| DLX | DuluxGroup announces that its relevant interest in Alesco as at 7pm on 17 December 2012 is 90.1% with a bid of $1.631 per share | Company report |
| CFE | Cape Lambert Resources wishes to advise that it intends to implement an on market share buy-back for up to 10% of the Company’s fully paid ordinary shares. | Company report |
| APZ | Aspen Group has executed a five year term facility with Westpac Banking Corporation to refinance the construction debt on the ATO Building in Adelaide. The Trust is jointly owned by Aspen Group and Telstra Super in a 50/50 joint venture. The $117.6 million term facility refinances the existing development facility provided by Telstra Super, following practical completion of the ATO Building which occurred at the end of October 2012. | Company report |
| LNC | Linc Energy has commenced mobilising the Kuukpik #5 drill rig and associated equipment and supplies to the Umiat oil field on Alaska’s North Slope in preparation for the winter drilling program. The Company is using both overland travel and C-130 Hercules aircraft to accomplish mobilisation. The drilling program is proceeding as planned and is on time and on budget. The winter drilling program includes the drilling and testing of shallow vertical and horizontal delineation wells in the Lower Grandstand Formation, as well as drilling and testing of a deep exploration target. The information gained from this program will help to validate the geological model, define the extent of the reservoirs, determine oil and rock properties for input into a reservoir simulation model, determine comparative production rates for horizontal and vertical completions and gather information on deeper reservoirs | Company report |
| SPN | SP AusNet is pleased to announce that it has entered into a 27 year licence agreement with the Victorian State Government for the right to operate and maintain the 87 kilometre high voltage alternating current underground transmission line supplying electricity to the Victorian Desalination Plant in Wonthaggi. Under the agreement, SP AusNet will pay the 27 annual licence charges to the Victorian State Government upfront in a single licence payment of $235 million by 21 December 2012. At the same time, SP AusNet has also entered into a 27 year agreement with the desalination plant operator, AquaSure, for SP AusNet to operate and maintain the transmission line in return for an annual revenue payment. This transaction continues SP AusNet’s strategy of pursuing unregulated transmission opportunities that are closely aligned to its core business. SP AusNet owns, operates and maintains the main Victorian Transmission Network, which consists of 12,800 high voltage towers and 6,800 kilometres of transmission line. | Company report |
| FUN | Stewart Downs, chief executive of Funtastic, expected to tell shareholders at the toy distributor has posted a $10.4 million full-year profit for 2011-12 and that it will pay its first dividend in six years | AFR |
| LNG | Liquefied Natural Gas Limited is pleased to advise that the estimated total cost of the Gladstone Fisherman’s Landing Project remains at US$1.1billion. This capital cost includes the engineering, procurement and construction (EPC) for the First LNG train of 1.9mtpa LNG production capacity, including a 22km connecting gas pipeline, gas treatment and liquefaction plant, 200,000m3 LNG tank, jetty and ship loading facility and supporting infrastructure. This cost also includes the Company’s share of dredging and dredge material disposal costs under contract with Gladstone Ports Corporation Limited, plus other project costs such as owner’s costs, project management, insurance and site lease payments during the construction period. | Company report |
| IGR | Integra Mining is pleased to announce that recent RC drilling at the Batavia prospect in the Aldiss Gold Project has returned encouraging 4-metre composite sample results including 4 metres at 5.36 g/t gold These 4-metre composite sample results have been resampled at 1-metre intervals and assay results are pending. The recent RC drilling was conducted to follow-up excellent results returned from the maiden RC drill program at the Batavia Prospect | Company report |
| SWR | Seymour Whyte has secured its fourth major project this financial year with the company being selected as the preferred tenderer for a $49 million contract for rehabilitation works on the Logan Motorway, west of Brisbane. Full project award is subject to successful execution of a formal contract which the company expects to complete by 14 January 2013. The contract was awarded by Queensland Motorways. Seymour Whyte will be the principal contractor for the project but undertake the works in a 50/50 joint venture with engineering and infrastructure management services group Downer EDI Limited (DOW). Work is expected to commence in early 2013 and be completed in early 2014. | Company report |
| CBA | Commonwealth Bank is taking control of John Symond’s Aussie Home Loans. Australia’s largest home lender, CBA already had a 33 per cent stake in the 20-year old mortgage broking business, and will increase its interest to 80 per cent. CBA will also have the right to take complete ownership of the business, it said. The financial terms of the deal were not released. | iress |
| ALZ | Australand notes the media speculation that Mirvac is considering a merger proposal with Australand. Australand advises that it is not in receipt of any such proposal. | Company report |
| BBG | Billabong International director Paul Naude is leading an offer of $527m for the struggling surfwear retailer, in partnership with New York-based buyout firm Sycamore Partners. It is believed the $1.10 per share offer was put to Billabong’s chairman Ian Polland after the sharemarket closed on Friday | AFR |
| QAN | the competition regulator will be coming back with its draft determination on Qantas’s 10-year alliance with Emirates this week, and the tea leaves are pointing to a positive finding | AFR |
| CLO | SA’s Murray & Roberts, which owns about 62% of Clough, looking at a range of options including buying out the minority interest it doesn’t already own | AFR |
| INQ | Wilson HTM and Investorfirst are pleased to announce entry into a non-binding Heads of Agreement whereby Investorfirst’s Stockbroking and Investment Advisory activities, including a number of Advisers and Analysts employed and engaged by Investorfirst in Sydney and Melbourne, will transfer to Wilson HTM; and Wilson HTM and Investorfirst commit to work towards developing a client portfolio management and reporting tool using Investorfirst‟s HUB24 platform to assist in the management of Wilson HTM’s private client portfolios. Subject to successful platform development and final agreement between the firms, Funds Under Management with Wilson HTM, representing $1.4 billion as at 31 October 2012, is expected to transition to the HUB24 platform over time. | Company report |
| PAN | Annual production – averaging 116,000oz Au pa. Initial project life – 7.25 years, aggregate production of 840,000oz Au. Average operating costs – approximately A$930/oz. Capital costs – estimated initial capital of approximately A$195M (including contingency). Robust project economics – cumulative pre-tax free cash flow of A$215M for the Base Case (A$1,500/oz), A$425M for Spot Case (A$1,750/oz), and $635M for the Alternative Case (A$2,000/oz). Current activities – drill program underway to convert Resources from Inferred to Indicated, test extensions at depth, and for geotechnical and metallurgical optimisation. | Company report |
| CTX | Speculation that Chevron may sell its 40% stake | AFR |
| FMG | Fortescue plans to sell up to 40% of its rail and port assets in a deal analysts think could be worth more than $2bn. The price FMG can get for its multi-billion-dollar rail and ports network could hinge on the Perth-based miner finally allowing greater third party access to the network | The Australian |
| BOQ | A leading international credit agency has warned Bank of Qld that its rating will be cut unless it can rein in its bad debt problem | AFR |
| NWS | News Limited said it was continuing to invest in its businesses after writedowns of its newspaper mastheads forced the company into the red for the 2012 financial year. The Australian subsidiary of News Corp, like most media companies in the country, is battling difficult conditions however said it remained confident about Australian consumers & media | The Australian |
| BHP | Cameco’s $US430m acquisition of BHP’s Yeelirrie uranium deposit in WA, a deal that stoked diplomatic tensions between Australia & Canada, has been cleared by the federal government and is close to completion | AFR |
| IPL | Net Profit After Tax, excluding Individually Material Items, was $404.7 million. This was a decrease of 24% on the 2011 Result. There was also a decrease in Earnings Before Interest and Tax which declined by 22%. Including Individually Material Items, Net Profit After Tax was $510.7 million. The split between Explosives and Fertilisers in Earnings Before Interest and Tax was 60% for the Dyno Nobel explosives business after an 8% earnings growth in 2012 and 40% for the Incitec Pivot Fertilisers business following a 40% earnings decline in 2012. This reflects our strategic emphasis on Explosives. Since the acquisition of Dyno Nobel in 2008, the explosives business has recorded year-on-year earnings growth. | Company report |
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