Macmahon (ASX:MAH) share price climbs higher on positive update

The Macmahon Holdings Limited (ASX: MAH) share price is climbing higher in early afternoon trade. This comes after the company announced it has won an underground mining contract.

The Macmahon share price rose to an intraday high of 27.5 cents in early trade. However, its shares have pulled back this afternoon to 25.5 cents at the time of writing, up 4.9%.

A closer look at the contract award

The Macmahon share price is on move today after reporting a positive update that has investors upbeat.

According to its release, Macmahon advised its subsidiary, GBF has secured a contract from Silver Lake Resources Limited (ASX: SLR) for mining works at the Deflector gold and copper mine in Western Australia.

Macmahon fully acquired…