Further to its announcement of
These contracts will extend GBF's tenure at
Coronavirus impacts
In addition, Macmahon wishes to provide the following information to the market about the impact of the coronavirus on its business. Macmahon has implemented a number of measures to protect the health of its people, reduce the risk of an infection, and to assist its employees to continue working. These measures include social distancing and screening protocols, extending rosters to reduce the frequency of workforce changeover at sites, and accommodating FIFO workers within the States in which they work. In addition, government mandated coronavirus controls such as travel restrictions have now been imposed in all jurisdictions in which Macmahon operates.
At this stage, there has not been a material impact on the Company's overall financial performance or on the assumptions which underpin its FY20 guidance. As a result, the Company does not currently see a need to change its guidance for this financial year. If this position changes, Macmahon will update the market in line with its continuous disclosure obligations. Despite the limited financial impacts to date, Macmahon considers it prudent to adopt a cautious approach to expenditure in the current environment. The Company will therefore delay some of its previously planned capex spending and implement other cash preservation measures to ensure it retains an appropriate liquidity buffer for current conditions.
Macmahon has a strong balance sheet with cash and unutilised working capital facilities totalling
Contact:
Tel: +61 8 9232 1877
About Macmahon
Macmahon is an ASX listed company offering the complete package of mining services to miners throughout
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