| AAX | Ausenco announced it had signed the Create phase contract to deliver engineering, procurement and quality assurance services (EP services) for a portion of the infrastructure works at Compañia Minera Teck Quebrada Blanca S.A.’s Quebrada Blanca Phase 2 copper project in Chile. | Company report |
| BHP | BHP and Exxon Mobil will this month launch the approval process for a $10 billion floating LNG project on the offshore Scarborough field in the Carnarvon Basin, WA | The Australian |
| CCV | Cash Converters International Limited is pleased to announce that a securitisation facility of $60 million has been established with Westpac Institutional Bank. The Company will use this funding facility to continue to grow the personal loan book. Under this facility, Westpac will provide up to $60 million of funding, through a securitisation programme, for the Cash Converters personal loan book, by providing up to 70% of the principal amount of each eligible loan. This facility has an initial term of two years with provisions for extensions beyond this period. | Company report |
| CLO | Clough to Sell 30.9 Million Forge Shares at A$6.05/Share Each | Iress |
| DLX | DuluxGroup took control of the Alesco businesses in December 2012. Managing Director Patrick Houlihan advised that the trading results for the Alesco businesses prior to acquisition were in line with expectations. | Company report |
| DLX | DLX has identified $9 million in cost synergies from its purchase of building products supplier Alesco late last year. | The Australian |
| DML | Discovery Metals Limited is pleased to advise that its existing lenders have formally consented to a series of amendments to the Company’s Project Finance and Corporate Revolver facilities, including extensions to repayment schedules and waivers on debt covenants. The amendment package agreed with the Company’s lenders cures all technical breaches of the Company’s financing facilities reported in the financial report for the half year ended 31 December 2012, and demonstrates the ongoing commitment of the Company’s lenders to the Boseto Copper Project. Specifically, the amendment package achieves a significant improvement in working capital by deferring the Project Loan principal repayments of approximately US$17.5m each which were previously due at the end of March and June 2013. The current Debt Service Reserve Account (DSRA) funding of US$19m will be applied toward principal payments on those dates. The DSRA is then planned to be re-funded in September 2013. The balance of the March and June 2013 principal payments has also been shifted to the maturity date of the loan (31 March 2015) as a balloon payment. | Company report |
| DRM | Doray Minerals is pleased to announce a maiden, high-grade JORC-compliant gold resource for the Judy Lode, adjacent to the current Wilber Lode mining operations within the Andy Well Gold Project in Western Australia. 106,000 ounce high-grade Judy Lode resource (Indicated & Inferred). Judy South (137,000t @ 19.3g/t Au for 85,000 ounces). Judy Lode resource remains open at depth and along strike. Potential for significant increase to Andy Well mine life. Increases Andy Well global resource to 444,000 ounces (Indicated & Inferred) | Company report |
| EVN | Evolution Mining is pleased to advise that a major milestone in the commissioning of the 800,000 tonne per annum processing plant at its 100% owned Mt Carlton gold-silver-copper mine in North Queensland was achieved with the first concentrate produced from the silver rich A-39 deposit. The site team will now focus on ramping-up the plant to full capacity which is expected to be achieved on a sustainable basis in the September 2013 quarter. | Company report |
| FGE | Clough to Sell 30.9 Million Forge Shares at A$6.05/Share Each | Iress |
| GGG | Greenland Minerals and Energy Ltd’s 100% owned Kvanefjeld multi‐element project contains one of the world’s largest undeveloped resources of rare earth metals and uranium (JORC‐code compliant), and is ideally located near the southern tip of Greenland. Feasibility studies are well advanced and demonstrate Kvanefjeld’s potential to be developed as a long term, low‐cost uranium supply, and a large low‐cost supplier of both heavy and light rare earth oxides (REOs). GMEL is now focussed on a staged development strategy with an initial mine‐throughput of 3Mtpa, expanding to 6Mtpa. There are two main steps in the processing of Kvanefjeld ores; a concentrator stage, and a refining stage. The Company has completed the testwork program for the concentrator stage with two successful pilot pant campaigns, and has now finalised a Mine and Concentrator Study. Key Outcomes of the Mine and Concentrator Study: The mine and concentrator (flotation circuit) will produce a high‐grade REE‐uranium mineral concentrate, along with zinc (6,180tpa) and fluorspar by‐products (8,865tpa). The REE‐uranium mineral concentrate containing 14% total REO and 0.24% U3O8 will then be treated in a dedicated refinery to produce 23,000tpa of high purity mixed rare earth hydroxide, and 1.1 Mlbs U3O8. Significantly reduced capital costs: Overall start‐up costs are now estimated at $810M. The mine and concentrator capable of treating 3Mtpa is anticipated to cost $450M. The refinery to produce marketable REE and U products is estimated to cost $360M. Unit costs of production are low; less than US$6.40/kg TREO (after by‐product credits) which will make Kvanefjeld one of the lowest cost REE producers worldwide. Upon mine expansion from 3.0 Mtpa to 6.0 Mtpa, the unit cost of TREO production drops to less than US$4.90/kg TREO (after by‐product credits) | Company report |
| IMF | The directors of IMF advise that appeals have been lodged by Standard & Poor’s, investment bank ABN Amro N.V. (now called the Royal Bank of Scotland and investment manager Local Government Financial Services Pty Limited in the matter IMF funded against these parties on behalf of 12 councils. 2. The Court has ordered S&P, ABN Amro and LGFS to pay a total amount of about $20.2 million to the Applicants plus costs. 3. IMF will provide funding for the defence of the appeal. | Company report |
| KMD | Kathmandu Holdings announces FY13 first half year results: Sales up 13.1% to NZ$165.9m, EBIT up 24.4% to NZ$15.8m, NPAT up NZ$4.3m (72%) to NZ$10.3m.Kathmandu Holdings Limited Chief Executive Officer, Mr Peter Halkett said “there was strong sales growth over the period; underpinned by successful new store openings and a solid increase in same store sales, despite a challenging market overall. Operating expenses were reduced as a % of sales relative to 1H FY12, and this also contributed to 1H earnings growth.” In the first half year of FY13 same store sales growth was 3.7% (6.1% at comparable exchange rates). Online sales growth (up over 50% on the same period last year) continued to be an important portion of this increase, but still represents less than 5% of total sales. The Company opened 9 new stores in the period, all in Australia, and relocated 3 stores. “Along with the continued growth in online sales, the new stores we opened in a variety of locations and formats have generally met or exceeded our sales expectations” said Peter Halkett. | Company report |
| LEI | Australia’s Leighton Holdings has been shaken at the foundations by concerns about corporate governance and the rights of minority shareholders. The company has moved quickly after its chairman and two directors quit last week citing a dispute over board independence with Germany’s Hochtief, the company’s majority owner. Leighton swiftly named long-serving director Bob Humphris as chairman. But the shake-up raises concerns. The departed directors said Hochtief no longer supports an independent board. The German company denies it acted inappropriately and says it’s sticking to a nonbinding agreement, in place for decades, where the majority of Leighton directors and management aren’t directly tied to Hochtief. Those assurances only go so far. The resigned directors are Australian corporate heavyweights whose experience and heft won’t be easy to replace. | WSJ |
| LNC | Linc Energy is pleased to announce as a further update to the successful start to its winter drilling program at Umiat, Alaska, that it has encountered 100 feet of net oil pay in the Lower Grandstand Formation in the Umiat #18 well. Umiat #18 is currently being cased in advance of deeper drilling the well to estimate the potential of a new gas target at depth. It is expected that Umiat #18 will encounter the deeper gas target within the next week. The commencement of flow testing of the Lower Grandstand in Umiat #18 will then follow and is expected to occur in the next two weeks. Linc Energy is also pleased to report that it has recovered 300 feet of core through the Lower Grandstand Formation in Umiat #18 which has been sent to laboratories for analysis | Company report |
| NAB | NAB is expecting an increase in the Australian domestic business lending market as the untapped borrowing capacity of firms reaches record highs. | The Australian |
| OCG | OceanaGold is pleased to announce the updated Resource & Reserve statement as at 31 December 2012. Total Company Proven and Probable gold reserves virtually offset 2012 mining depletion and stand at 3.64 Moz gold and 0.24 Mt copper. Macraes Goldfield Measured and Indicated resources are stable at 3.90 Moz of gold (net of mine depletion) for the third consecutive year. Reefton Goldfield mine life confirmed to 2017. Total Measured and Indicated resources for the Company stand at 6.73 Moz of gold and 0.29 Mt of copper with resource growth offsetting 2012 mining depletion. | Company report |
| PIR | Papillon Resources is pleased to announce that it has successfully completed its previously announced placement of 39,500,000 ordinary shares of the Company at an issue price of A$1.34 per share to institutional and sophisticated investors in Australia, Asia, Europe and North America to raise gross proceeds of A$52,930,000. The proceeds from the Placement, which have now been received by the Company, will be used to fast track the various planned development and exploration initiatives at the Company’s flagship Fekola Gold Project, including early site works and infrastructure construction. | Company report |
| POH | Phosphagenics advises that it has achieved all end points of its important Phase 1 trial of its oxymorphone patch by successfully delivering the powerful opioid into the bloodstream via its patented TPM transdermal skin patch. The single dose Phase 1 study, conducted at the CMAX independent clinical research facility based at the Royal Adelaide Hospital, established that a single dose application of the patch was able to successfully deliver oxymorphone into the bloodstream for the 72 hour duration of the study. Phosphagenics CEO, Dr Esra Ogru, said the “outstanding” Phase 1 results validated further clinical development of the Company’s oxymorphone patch. | Company report |
| QAN | The ACCC has granted authorisation to Qantas Airways Limited and Jetstar Airways Pty Ltd for coordination involving four Asian based Jetstar branded joint ventures: Jetstar Asia, Jetstar Pacific, Jetstar Japan and Jetstar Hong Kong until 31 March 2018 | Company report |
| SBM | St Barbara has priced a US$250 million senior secured note issue following a successful offering in the United States Rule 144A bond markets and to certain persons outside the United States in reliance on Regulation S of the Securities Act. The offering consists of US$250 million Senior Secured Notes (the “Notes”) due 15 April 2018 with a coupon rate of 8.875% and which were priced at 99.493% of the principal amount of the Notes. | Company report |
| SEA | Sundance Energy is pleased to announce a material uplift in its Reserve base following an independent evaluation by Netherland Sewell and Associates, a worldwide leader in independent oil and gas Reserve evaluations. The evaluation did not include an update on the Eagle Ford reserves recently acquired via scheme of arrangement from Texon Petroleum Limited. The Eagle Ford reserves included in this announcement are based on an independent evaluation by Netherland Sewell and Associates as of 1 August 2012. Since the reserve report date, 2 additional horizontal Eagle Ford wells have begun producing. PV10 of Proved Reserves increased to $159.5 million, up $47.9 million. Proved and Probable Reserves increased to 20.0 mmboe, up 4.1 mmboe. Proved, Probable and Possible Reserves increased to 57.8 mmboe, up 10.0 mmboe | Company report |
| TLS | TLS is scouting global centres of technology innovation for investment opportunities that take advantage of new and emerging applications in education, IT services, and digital media | AFR |
| TRY | Troy Resources is pleased to announce new drill results for the “Inca Gap” at its wholly owned Casposo gold and silver mine in Argentina. The best drill result was CA-13-543 and included 1.10m at 198.01g/t gold and 18,670g/t silver or 509.17g/t Au_Eq from 278.00m | Company report |
| TSE | Transfield Services has been awarded a $170 million contract with NBN Co comprising Passive Fibre Network design and construction and Build Drops (house pre-connections) in metropolitan Sydney and south east Sydney, as part of Australia’s National Broadband Network. The contract is for two years, with options for two extensions of one year each, with a potential value of up to $300 million. | Company report |
| UGL | UGL announces review to consider optimal corporate structure. “The Review will assess the optimal corporate structure under which UGL should operate to deliver the best outcomes for all stakeholders. Various alternatives from maintaining the current corporate structure, reviewing a potential structural separation or demerger of the Company, as well as UGL’s M&A strategy will be considered. Tax, debt and management issues that would be associated with a separation will also be examined as part of the Review process,” said UGL Chairman, Trevor Rowe. UGL Managing Director & CEO, Richard Leupen said: “Over the last decade, UGL’s Engineering businesses have become market leaders in engineering construction and maintenance services across key sectors in Australia, employing 8,000 people and generating annual revenue in excess of $2.5 billion. “Our Property business has grown significantly from the initial acquisition of KFPW in 2002 through to the acquisition of the trading operations of DTZ Holdings plc in 2011, to become a global leader in property services operating in 52 countries, employing 47,000 people worldwide and generating annual revenue of $2.0 billion. Organic growth has also been a key driver of the growth in our Property business. “Given the substantial scale both businesses have now reached, it is the right time to review UGL’s corporate structure to fully capitalise on the strong growth opportunities across the engineering and property services sectors,” Mr Leupen said. | Company report |
| VAH | Virgin Australia welcomed the sanction of the High Court of Singapore for the proposed acquisition of 100% of the issued share capital in Skywest Airlines, pursuant to a scheme of arrangement (the Scheme) under the laws of Singapore. The proposed acquisition still remains subject to certain conditions, however, the Scheme is expected to become effective on 11 April 2013. | Company report |
| WDC | Westfield Group is pleased to announce an agreement with O’Connor Capital Partners for a series of transactions which will result in a joint venture investment in a portfolio comprising six Westfield regional malls in Florida, US. O’Connor’s investment will represent a 49.9% interest in this portfolio, which has a gross value of US$1.283 billion. The price paid by O’Connor is equal to the Group’s book value. Westfield will remain as property, leasing and development manager on terms consistent with the Group’s other joint ventures. “This agreement carries on the Group’s strategy of introducing joint venture partners into our assets globally as well as disposing of non-core assets,” said Westfield Group Co- Chief Executive Officer Peter Lowy.Westfield will realize approximately US$700 million in net proceeds from the transactions. | Company report |
| WOW | WOW has sold more than 40,000 general insurance policies in less than two years and has exceeded sales targets by 10% as it seeks to win market share from IAG and SUN | AFR |
| WOW | WOW has announced milk processor Parmalat and a group of New South Wales farmers as partners in its drive to purchase milk directly from producers and allay criticism that its home brand milk products are undermining the dairy industry. | AFR |
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