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times and throughput as part of continu- Bentley steps up with Macmahon the heir to the
ous improvement to operational perfor-
mance of the 2 mtpa processing facility at Seequent acquisition throne at King of the Hills
Pilgangoora began last month.
SIMPEC and IronMerge have been Infrastructure engineering software com- Macmahon Holdings Ltd is the frontrun-
contracted to perform all vertical instal- pany Bentley Systems has entered into a de- ner to develop the King of the Hills gold pro-
lation works, including earthworks, civils, finitive agreement with investors led by Accel- ject for Red 5 Ltd.
fabrication, structural, mechanical, pip- KKR to acquire Seequent for $US900 million Following a detailed tender process for
ing, tanks, electrical and instrumentations in cash. both the surface and underground mining
works for the project. The acquisition of Seequent – a leader activities, Red 5 issued a letter of intent to
Meanwhile, SIMPEC has been award- in software for geological and geophysical Macmahon last month for a proposal com-
ed a separate $7 million contract by modelling, geotechnical stability and cloud bining both scopes of work.
Central Systems to supply and install services for geodata management, visibility Under the letter of intent, the parties are
the electrical work at Fortescue Metals and collaboration – is expected to initially add working towards finalising the documenta-
Group Ltd’s Solomon hub central facilities about 10% to each of Bentley’s key financial tion by which Macmahon will provide all
workshop yard. metrics (ARR, annual revenue and EBITDA) surface and underground mining services
Like the arrangement with Pilbara, this and will be measurably accretive to its organic to the project over a five-year contract term,
contract is SIMPEC’s first with Central growth rate. beginning Q1 2022.
Systems and is expected to be delivered Most significantly, the combination will Macmahon expects this documentation
in Q3 2021. deepen the potential of infrastructure digital to be completed by June and the contract
twins to help understand and mitigate envi- will add over $650 million to the company’s
ronmental risks, advancing resilience and order book.
Castile united for Rover sustainability. “We have a strategy to expand our pres-
Upon closing, Seequent will operate as a
treasure hunt standalone Bentley subsidiary, with Seequent ence across the mining services value
chain and this project highlights the benefits
Castile Resources Ltd has re-engaged chief operating officer Graham Grant to suc- of being able to offer a combined surface
United Drilling Services to provide two ceed retiring chief executive Shaun Maloney and underground mining solution from the
drilling rigs for an expanded field season and report directly to Bentley’s chief product outset,” Macmahon managing director Mi-
in the Rover mineral field, Northern Ter- officer Nicholas Cumins. chael Finnegan said.
ritory. Founded and headquartered in Christch- Red 5 indicated last month that its King of
Work began in late March, with a dia- urch, New Zealand, Seequent has more than the Hills development was now fully funded
mond drilling campaign of up to 10,000m 430 employees – geologists, hydrogeolo- after securing $175 million in debt facilities
on numerous advanced prospects the gists, geophysicists, geotechnical engineers and launching a fully underwritten entitle-
first cab off the rank. and civil engineers – across 16 office loca- ment offer for $60 million.
“We are going to hammer these priority tions in over 100 countries.
targets with two rigs this season to give
shareholders some serious bang for their
buck,” Castille managing director Mark
Hepburn said.
“Gold is still a priority and remains at
high prices and now that copper is flying
we are very well positioned with our mul-
tiple copper-gold resources and targets.
This mineral field is still in its infancy and
our treasure map of coincident magnetic
and gravity anomalies lying undercover is
lighting up like a Christmas Tree.”
Macmahon is set to provide all surface and underground mining
services at Red 5’s King of the Hills gold project

+ 27 (0)11 028 1181 info@nucleusml.co.za www.nucleusml.co.za

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