Mastermyne Group (ASX:MYE) is a leading Australian underground coal contractor. The company has announced a new mining services contract with GM3 at the Dendrobium underground metallurgical coal mine in NSW, adding more than 140 new roles and estimated gross revenues of ~$85m over an initial two-year term (up to ~$255m over six years if both two-year extension options are exercised). This builds on Mastermyne's existing strata consolidation work at Dendrobium and its ~220-role contract at GM3’s nearby Appin mine, reinforcing the $432m order book and demonstrating its ability to convert the $1.5b opportunity pipeline. The win also illustrates the benefit of its strategic shareholder relationship with M Group, through which it has now secured mining services contracts at two separate GM3 sites. MYE represents a counter-cyclical opportunity with a strong balance sheet, with net cash of $46.5m at 30 June 2026.
