0043 GMT - Perenti's decision not to pursue an extension to its contract at the Khoemacau Copper Mine could see it beat guidance for free cash flow, suggests Macquarie. Perenti's contract ends on June 30, and Macquarie notes it has underperformed internal performance hurdles. Macquarie expects the completion of the contract to support stronger margins in FY 2026. "We expect Perenti to be able to replace revenue and earnings from both new tenders and also scope expansion on current projects," the bank says. Perenti will sell all equipment to MMG with the final value not yet known. Perenti's FY 2025 free cash flow guidance is more than A$150 million and Macquarie thinks the equipment sale could generate proceeds of some A$60 million. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 22, 2025 20:43 ET (00:43 GMT)
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