| APZ | Core Operating Profit After Tax as assessed by the directors, for the period was $10.415 million ($7.499 million for the six months ended 31 December 2011), reflecting a 39% increase from the pcp.. The Operating Profit as assessed by the directors, for the period was $10.872 million ($18.622 million for the six months ended 31 December 2011), reflecting a 42% decrease from the pcp. | Company report |
| AZH | During 2012 the Company continued exploration drilling at its West Omai project (Smarts and Hicks deposits) in Guyana, South America. The Company upgraded its mineral resource estimates at West Omai in February, 2013, announcing an inferred mineral resource of 16.7 million tonnes @ 3.1g/t Au for estimated contained gold of 1.65 million ounces. | Company report |
| BHP | Exiting BHP Billiton chief executive Marius Kloppers has rated his decision to invest billions of dollars into Perth’s Worsley alumina plant the biggest mistake of his tenure | The Australian |
| BPT | Beach Energy has signed documents with Chevro to farm-out a portion of their interests in the PEL 218 and ATP 855 joint ventures. Beach will transfer up to 60% of its interests in PEL 218 (Beach 100%) and ATP 855 (Beach 60%) to Chevron. It is envisaged that Beach will potentially receive US$349 million over two stages for both permits over several years | Company report |
| CDU | Potential exists for a material impact on estimated grades at Rocklands South, to be confirmed with follow-up diamond drilling that is currently targeting unexpectedly high-grade zones of sulphide mineralisation now being identified within areas previously untested by drilling. The average grade of the high-grade copper zones appear to be multiples of the averages indicated in the resource block model for their respective locations. The resource block model was based on drilling that did not intersect the areas now identified to host high-grade sulphide mineralisation. The new high-grade intersections are viewed as potential extensions of an identified plunging high-grade zone at Rocklands South, which mirrors a similarly plunging high-grade zone also identified at central Las Minerale. Both of these ore bodies share similar characteristics, including an extensive supergene zone that contains significant quantities of both coarse native copper and high-grade chalcocite enrichment | Company report |
| China | China February HSBC Flash Manufacturing PMI 50.4 (vs. 52.2 expected and 52.3 prior) | Market Watch |
| CNU | Chorus reports net profit after tax (NPAT) for the six months to 31 December 2012 of $84 million, revenues were $525 million and earnings before interest, tax and depreciation (EBITDA) were $331 million. While Chorus’ overall earnings performance was pleasing, particularly underlying growth in the number of fixed line connections and revenue, we face challenging headwinds in our efforts to build New Zealand’s fibre future. These headwinds are in the form of the regulatory framework and the capital costs of our Ultra-Fast Broadband (UFB) deployment. | Company report |
| COE | Sales revenue of $23.4 million, marginally down from $25.8 million in pcp. Total Profit Attributable to Members of $4.6 million up from $(4.1) million in pcp. Profit from Continuing Operations of $4.9 million, down from $8.3 million in pcp. Cash and Investments increased to $77.9 million from $74.7 million at 30 June 2012. Production of 213 kbbls oil down from 225 kbbls as Lycium to Moomba pipeline start-up in mid-December 2012 deferred some production. Second half production is expected to be at least 35% higher than first half with full year expectation being 500 kbbl to 550 kbbl. PEL 92 drilling program yields 4 successes from 5 wells. Reserve additions from drilling program to date expected to exceed first half production. Drilling activity increasing significantly with 8 wells in next 6 months | Company report |
| CTX | Caltex Australia has returned to profitability as its refining businesses showed the results of recent structural changes. The fuel marketer and refiner made a net profit of $149 million in the year to December 31, on a replacement cost basis, which excludes the effect of changes in the world oil price.That compares to a $852 million loss in the previous year, in which Caltex took more than $1 billion in writedowns on its Kurnell refinery in Sydney, which it is closing. Chief executive Julian Segal said the improved result reflected growth in Caltex’s marketing business and improved refinery production. Changes to the configuration of the company’s Lytton refinery in Brisbane delivered higher production and earnings, he said. The Kurnell facility just broke even, when excluding the costs of its planned closure. The plant’s poor competitive position restricts its ability to generate acceptable returns, and its closure remains on track to be completed towards the end of 2014, Caltex said. | iress |
| DCG | Decmil has agreed terms to acquire specialist engineering business, Eastcoast Development Engineering Pty Ltd (EDE). Brisbane-based EDE services the energy and resource industry throughout Australia and in Pacific island nations. The company specialises in the fabrication and installation of high pressure pipes, vessels and tanks which are used for a range of applications in the oil and gas, mining and minerals, heavy industrial, water and power generation industries. With current annual turnover in excess of $80 million, EDE is experiencing significant growth in servicing the coal seam gas industry in Queensland. Decmil anticipates the price negotiated with EDE’s shareholders will imply an acquisition multiple of less than 3 times FY13 EBITDA. | Company report |
| FKP | Sale of Chatswood and Browns Plains Assets for $119.0m | Company report |
| GNG | GR Engineering has been issued with a notice of contract award by Saracen in relation to the engineering, procurement and construction (EPC) contract for the Carosue Dam Tertiary Crushing Project near Kalgoorlie in WA. The contract price is approximately $16 million, with formal award being subject to the preparation and execution of formal contract documentation which is expected in the next 4 weeks. The contract price has been determined on a lump sum basis and GR Engineering will commence design work immediately with project completion scheduled in December quarter, 2013. The contract revenue split for FY13 and FY14 is estimated as 40/60. This project represents a key component of Saracen’s development plan to expand the Carosue Dam Process Plant throughput capacity to 3.2 Mtpa | Company report |
| HZN | The Group’s overall loss for the half-year was US$6.8 million, resulting from gross profit from operations of US$11.6 million offset by depreciation and amortisation of $2.1 million, income and royalty tax of $6.1 million, financing costs of US$2.8 million and an unfavourable movement in the mark-to-market valuation of the convertible bonds of US$4.7 million substantially caused by an increase in the Company’s share price. Cash on hand at 31 December 2012 of US$48.4 million (30 June 2012 – US$19.3 million). | Company report |
| IFL | IFL $33.2m statutory NPAT result $50.9m UNPAT pre-amortisation result $52.8 m pre-tax operating cash flow, 19.5 cents per share fully franked interim dividend. Total funds grew 8.5% to $116.4bn | Company report |
| KCN | EBITDA (before significant items) of $65.0 million (2011, $69.6 million). Net profit before tax and significant items of $27.2 million (2011, $38.3 million). Net profit after tax of $8.1 million (2011, $38.9 million). This was impacted by a noncash write down $14.9 million relating to the sale of greenfield exploration properties and a write back of the balance of capitalised borrowing fees of $1.8 million following the Akara re‐financing. An interim dividend of 5 cents per share, unfranked, was declared. The dividend record date is 15 March 2013 with payment on 12 April 2013. | Company report |
| LEI | The value of Leighton Contractors’ contract to deliver the civils and underground works package for Chevron-operated Gorgon Project has increased by $975 million to an estimated value of $1.789 billion. The new estimated value reflects an increased and amended scope of works to provide better flexibility to deliver the package in a more efficient and timely way. The contract scope includes earthworks, in-situ and precast concrete and underground services, including drainage, piping and electrical and instrumentation cabling which will be installed within the LNG plant site. | Company report |
| MND | Monadelphous announced it has received a notice of award for a major iron ore construction contract associated with Rio Tinto’s Western Turner Brockman Project in the Pilbara region of WA. The contract is for the supply and installation of structural, mechanical, piping, electrical and instrumentation works for the construction of the Western Turner Brockman iron ore plant. The contract is valued at approximately $260 million, and is scheduled to be completed in the fourth quarter of 2013. | Company report |
| MTU | MTU EBITDA up 99% to $55.1 million. NPAT increased 47% to $24.7 million. Underlying EPS up 32% to 20.2 cents. Declaration of interim dividend of 10 cents per share, fully franked | Company report |
| NAB | NAB’s push to offer its wealthy clients a broader and more integrated range of wealth management services beyond traditional brokerage is understood to be causing friction among its JBWere advisers | AFR |
| NAB | National Australia Bank has signed an agreement to forge stronger links with one of China’s biggest banks, China Development Bank, in yet another sign that Australia’s major banks are ramping up their activity in Asia. | AFR |
| NWT | NewSat, Australia’s satellite company, is pleased to announce the successful placement of the equity and mezzanine funding for the Jabiru-1 satellite, Australia’s first commercial Ka-band satellite. The placement completes the equity component of the funding package, as required by Ex-Im Bank of USA and COFACE of France to ensure the launch of Jabiru-1. In late November 2012, a trading halt was initiated and the Company embarked on a number of financial initiatives which resulted in a US$95 million reduction in the equity required, and culminated in the now finalised equity and mezzanine fundraising. The placement raised gross proceeds of A$105 million (US$108 million), The total project funding of US$611m comprises: ECA funds – US$399 million, Equity – US$108 million, Mezzanine debt – US$30 million, Reserve facility – US$25 million, Equity spent to date – US$49 million. | Company report |
| OGC | OceanaGold wishes to provide an update on its Didipio Mine located in Luzon, Philippines which is currently undergoing commissioning activities. Ramp up of the process plant continues to track well. To date, approximately 2,500 tonnes of coppergold concentrate has been delivered to port and in excess of an additional 2,500 tonnes has been produced and is awaiting transport from the minesite. The Company wishes to advise that it is currently in discussions with various government departments over interpretations of tax exemptions pertaining to OceanaGold’s Financial and Technical Assistance Agreement (FTAA). Didipio is the first project to be built and commence operations in the Philippines under the FTAA structure. Due to these clarifications on tax exemptions being sought, some of the trucks used for transporting concentrate are being held by local government agencies and thus transportation of copper-gold concentrate has been temporarily suspended. While these discussions take place, mining and processing operations continue. | Company report |
| PRR | PRR is pleased to report continued strong progress in the development of CVac for epithelial ovarian cancer. In the six months to December 31, 2012, the Company incurred a net loss of $8,030,406; the majority of these funds have been invested into the manufacturing and clinical development of CVac. During the past half-year, Prima has refined its strategy to capitalize on its leadership position in developing personalized immunocellular therapeutics for cancer. Key to the clinical and commercial success of products such as CVac, and what we consider the long-term driver of value in Prima, is the establishment of a robust global supply, logistics, and manufacturing platform. This platform, combined with robust clinical data from ongoing trials, would put Prima in a strong position to negotiate potential partnerships for commercializing CVac in the future. It also provides us multiple opportunities for value creation, including the ability to look at other immunocellular therapies to bring into our development pipeline. In October and November, 2012, Prima reported positive interim data from its ongoing CAN-003 clinical trial of CVac in ovarian cancer. There are encouraging trends of increased progression free survival for patients receiving CVac versus the control group in that study. Based on the analysis of seven patients from CAN-003, CVac demonstrates an ability to induce a mucin 1 specific T cell response in patients. During calendar year 2013, we expect two important data points from the CAN-003 trial. In the third quarter of calendar year 2013, we plan to release the full immune monitoring profile of all 63 patients over multiple time points during the trial. In the fourth quarter of calendar year 2013, we will have the final protocol analysis of progression free survival and the first evaluation of overall survival. | Company report |
| QAN | Qantas Airways is aiming to reduce its fuel costs by mixing biofuels with fossil fuels, a move which improved its fuel economy by 1% to 2% during 2012 | SMH |
| QBE | Documents leaked from QBE indicate the financial services company might shift up to 700 jobs from its Australian division to Manila by the end of the year. | AFR |
| RIO | Speculation that new CEO Sam Walsh could axe the non-core Canadian iron ore assets | The Australian |
| SKI | Spark Infrastructure has today released its results for the 12 months ended 31 December 2012 and is pleased to report an increase in net profit to $173.9 million based on solid financial and operational results from SA Power Networks and CitiPower and Powercor (Victoria Power Networks)1. The Directors have declared a final distribution for the year of 5.25 cents per security (cps) to be paid on 15 March 2013, bringing the total distribution for 2012 to 10.5cps, up 5% on 2011 and in line with previous guidance. The Directors have also provided distribution guidance for 2013 of 11.0cps, an increase of 4.8% on 2012. Total regulated revenue was up 12.8% to $1,630.6 million with aggregated Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA), excluding customer contributions, up 10.4% to $1,299.3 million. Whilst electricity volume performance has varied between businesses during the year, volumes have again demonstrated resilience in a challenging environment featuring difficult economic conditions, price rises and changing consumer patterns. Notwithstanding the volume performance, core regulated revenue has grown as a result of good reliability and service performance and higher distribution tariffs in accordance with the applicable regulatory decisions. | Company report |
| SXY | Senex upgrades net gas reserves & resources by 15% to 598PJ | Company report |
| TEN | Ten Network announced that the Board had given notice of termination to Mr James Warburton. He will no longer be performing the role of Chief Executive Officer and Managing Director of the Company, effective immediately. TEN Chairman, Mr Lachlan Murdoch, said: “The Board would like to thank James Warburton for his hard work and contribution during what has been a difficult period for the Company and for the broader media sector. He steps down with TEN’s best wishes.” TEN today also announced that the Board has appointed Mr Hamish McLennan as Chief Executive Officer and Managing Director of the Company. | Company report |
| TEN | New CEO Hamish McLennan buys $1m worth of shares | AFR |
| TXN | Texon has transferred all its non EFS assets into its current subsidiary company, Talon Petroleum Limited. The purpose of the Demerger Scheme is to separate Talon from the broader Texon group and to separately list it on the ASX as an independent entity. Talon will be an exploration and appraisal focused oil and gas company, with a portfolio that includes a mix of production, development, appraisal and exploration assets. Talon will continue to seek to participate in low risk oil prospects, located in mature, well serviced areas that can readily be commercialised. The current Texon Board and management will transfer to Talon. Under the Demerger Scheme, Texon Shareholders will not receive a cash payment but will receive two ordinary shares in Talon for every five Texon ordinary shares they hold on the Demerger Record Date which will be 6:00pm on Wednesday, 6 March 2013. | Company report |
| WPL | Chief executive of Woodside Petroleum, Peter Coleman, believes there is a twelve-month window of opportunity to reach a deal with Timor-Leste to develop the 5.1 trillion cubic feet Sunrise gas project. | AFR |
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