Mastermyne Group Limited (ASX:MYE) Builds Its Contract Pipeline Around Tahmoor and Moranbah North

Aditi Sarkar

11 November 2026 04:33 PM AEDT

Mastermyne Group Limited (ASX:MYE) Builds Its Contract Pipeline Around Tahmoor and Moranbah North

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Highlights

• Mastermyne announced a Tahmoor Mining services contract valued at up to AUD 240 million in October.

• The group subsequently disclosed an Anglo American letter of intent relating to Moranbah North mine during October 2026.

• FY26 Revenue increased to approximately AUD 237.7 million from AUD 213.8 million a year earlier.

• The shares traded at 65 cents intraday on 11 November, with Volume below their recent daily average.

A major Tahmoor contract announcement and a separate letter of intent at Moranbah North put the contract pipeline at the centre of Mastermyne Group Limited (ASX:MYE). Both notices arrived in October, preceding a November Trading session in which the underground mining services provider gained ground.

Market Setting

Mastermyne Group Limited was higher on Wednesday, with the shares up 4.84% at 65 cents at around 2:40pm AEDT on 11 November 2026. About 111,000 shares had traded, well below the stock’s Average Daily Volume of roughly 483,000 on ASX data.

Contract news

Around 9 October 2026 the company lodged a price-sensitive announcement titled “Award of Tahmoor mining services contract valued up to AUD 240M”.

Around 15 October the company announced “Anglo American issues letter of intent for Moranbah Nth mine”. A letter of intent is generally a step toward a contract rather than a finalised award, and the announcement text was not available to verify its terms.

Business and Operations

The ASX describes Mastermyne as a provider of underground mining services to the Australian mining industry. It has been listed since May 2010, with about 308.9 million shares on issue and a Market Value of roughly AUD 191 million at the live price.

Financial Performance

ASX data for the year to 30 June 2026 show revenue of about AUD 237.7 million, up from about AUD 213.8 million a year earlier, and Net Income of about AUD 2.0 million, similar to about AUD 1.7 million in 2025. Revenue was higher in 2023 and 2024, at about AUD 326.8 million and AUD 294.1 million, and the company recorded a loss of about AUD 74.0 million in 2023. Total Assets were about AUD 124.5 million against liabilities of about AUD 47.8 million.

The shares have traded between 12 cents and 82.5 cents over 52 weeks, which shows how far the stock has moved over the year.

Key Operating Considerations

The company’s Earnings depend on a small number of mining customers and on coal markets. Profit margins are thin relative to revenue, and a letter of intent does not guarantee that a contract follows.

FAQs

Q: What was the announced Tahmoor contract value?

A: Up to AUD 240 million.

Q: Which mine featured in the letter of intent?

A: Moranbah North.

Q: What services does Mastermyne provide?

A: Underground mining services in Australia.

Q: What was FY26 revenue?

A: Approximately AUD 237.7 million.

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