Maca’s Limited Share Price Bounces Back by 8.70%

Maca’s Limited [ASX:MLD] share price has turned around today, after having a steady decline over the past eight months.

The company is a mining/civil construction company offering contract mining, civil earthworks, crushing and screening, and material haulage solutions to the mining industry throughout Australia.

The share price is up 8.70% for the day.

Contracts share benefiting price 

Maca has picked up a trio of contracts or extensions at Western Australian mining projects.

The company received a $12 million variation to a bulk earthworks contract with the Gruyere gold joint venture between Gold Fields and Gold Road Resources.

Maca’s contract at the Eastern Goldfields project has also been extended to October this year.

A great result for the company that has potentially got investors jumping to buy the stock.

The company was originally named as the contractor for the bulk earthworks package in April 2017.

Since then, the stock has declined quite significantly, but the company is hoping to turn things around with these latest contracts.

Further contracts signed

Maca was recently awarded a $6 million structural, mechanical and piping contract by AngloGold Ashanti.

The contract will employ 25 employees and is hoping to help grow the company’s position in the mining sector.

Kind regards,

Ryan Clarkson-Ledward
For Money Morning

PS: Our resource analyst, Jason Stevenson has compiled ‘The Top 10 Australian Mining Stocks’ trading on the ASX right now. What do find out which ones will benefit from the resurgence in commodity prices? Click here.

Ryan Clarkson-Ledward is an Editor at Money Morning.

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

Ryan is also the Editor of Australian Small-Cap Investigator, a stock tipping newsletter that hunts down promising small-cap stocks by dissecting the latest events affecting the world.

To find out more about the publications Ryan works on and how you can subscribe, please click on the corresponding link here:

Money Morning Australia