MASTERMYNE GROUP LIMITED (MYE)
Share Price Analysis and Chart

14/10/2026

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Research as a Service (RaaS) raises its FY27 EBITDA forecast for Mastermyne Group by 5%, and EBIT, net profit and EPS forecasts by 7%, following a new mining services contract at GM3's Tahmoor underground metallurgical coal mine.

The labour-only contract requires no major capital expenditure and is expected to generate around $80m revenue over its initial two-year term, potentially rising to $240m over six years if extension options are exercised.

Work starts in the December quarter, establishing Mastermyne's presence at all three GM3 Illawarra mines.

RaaS forecasts FY27 revenue of $298.1m and underlying net profit of $14.5m. Net cash of $46.5m provides capacity for acquisitions and capital management, while further conversion of the $1.5bn opportunity pipeline offers upside.

Earlier updates mentioned a valuation of 41c, but there is no such inclusion in this update. The share price has surged well above that level.

Research as a Service (RaaS) research does not carry ratings or recommendations. Investors can draw conclusions from the valuation and commentary.

FORECAST
Research as a Service (RaaS) forecasts a full year FY27 dividend of 5.00 cents and EPS of 5.00 cents.