| APZ | Aspen is pleased to advise that it has settled the sale of a non-core residential development property at Nettleton Road, Byford in Western Australia for $6.5m, with proceeds of sale to be applied to repayment of debt. The property formed part of the non-core assets, held on balance sheet, with the sale being in line with book value at 31 December 2012 | Company report |
| AQG | Alacer Gold is pleased to announce an update to its Mineral Resources and Reserves estimates. David Quinlivan, President and CEO of Alacer, stated: “Total resources increased by 20% or 2.8 million ounces during 2012. Reserves have largely remained unchanged at all three operations even though Alacer mined approximately 0.5 million ounces of contained gold during 2012. | Company report |
| AWE | AWE announced that it has increased its booked 2P Reserves for the Sugarloaf Area of Mutual Interest (“AMI”) in Texas, USA, by 67% following an independent reserves appraisal and report by DeGolyer and MacNaughton, a leading auditor of unconventional oil and gas assets in North America. | Company report |
| BBG | Revised bid estimated to be less than 80cps | AFR |
| BHP | BHP and ExxonMobil have put forward plans to launch a floating LNG platform to mine gas 220 kilometres off the coast of Exmouth in Western Australia | AFR |
| FXJ | FXJ will announce further cost cutting measures this week including a management restructure as it seeks to combat a prolonged down-turn in media advertising | SMH |
| GBG | Gindalbie Metals is pleased to provide an update on the progress of commissioning activities at the Karara Project in Western Australia, including the ramp-up of production at the Karara Concentrator and the achievement of another shipping milestone. Commissioning of primary and secondary crusher underway at Karara Concentrator; Only two of nine remaining areas await commissioning; Concentrator currently operating at approximately 70 per cent capacity: on track to achieve 8Mtpa by end of April 2013; 46 iron ore shipments completed with more than 2.7 million tonnes shipped since start-up in October 2012, of which 5 shipments were magnetite; Official opening of Karara Project to be held on 9 April 2013. | Company report |
| MML | Medusa Mining, through its Philippine’s operating company, Philsaga Mining Corporation, advises that a six hole sterilisation drilling programme completed southeast of the Bananghilig Gold Deposit to test a possible mill site has encountered significant gold mineralisation in the same host rocks as the adjacent Bananghilig Gold Deposit. All six drill holes have intersected numerous zones of gold mineralisation of ≥1 g/t gold over mineable widths. The tenor of mineralisation is, to date, similar to, if not better than, the Bananghilig Deposit, which contains in excess of one million ounces | Company report |
| ORG | Origin noted the announcement by Standard & Poor’s Ratings Services (S&P’s) that it has revised the criteria it uses to assign equity content to hybrid capital instruments. As a result of the change in the criteria by S&P’s, the $900 million Origin Energy Subordinated Notes due 2071 (Subordinated Notes) traded on the ASX, and the €500 million Capital Securities due 2071 (Capital Securities) traded on the LSE, will no longer qualify for high (100 per cent) equity content. The Capital Securities will also no longer have a mandatory deferral trigger. The change in the equity content is a Rating Event under the terms and conditions of the Capital Securities and a Capital Event under the terms and conditions of the Subordinated Notes. As a consequence, Origin has the right to redeem the Capital Securities and Subordinated Notes in accordance with the respective terms and conditions of the securities. Origin will consider whether it will exercise its early redemption rights and will provide an update after the equity content ascribed to the Subordinated Notes and the Capital Securities is confirmed by S&P’s. | Company report |
| REY | Rey Resources Limited has announced a deal involving the acquisition of an additional 15% of the EP 457 and EP 458 oil and gas permits in the Canning Superbasin – taking Rey’s total equity position in the Fitzroy Blocks to 25%. | Company report |
| RIO | Rio Tinto Seeks to Sell Stakes in Australia Coal Mines and may fetch over $1b | Dow Jones |
| SDL | SDL is expected to withdraw from takeover talks with Hanlong Mining as early as today after five days of good faith negotiations required by a scheme of arrangement for a $1.3 billion takeover | AFR |
| SDL | speculation that SDL may strike a new deal with a state-owned, Chinese buyer after the collapse of th Hanlong deal | AFR |
| SGP | Stockland is a step closer to launching its major, new residential community at East Leppington in Sydney’s South West, after submitting Development Applications (DAs) to Campbelltown Council and Camden Council. The move follows the New South Wales Government’s recent rezoning of land in Sydney’s South West growth corridor and is an important milestone for the project, which is set to become Stockland’s largest, new residential community in New South Wales. In addition to its proposal to develop approximately 3,000 new home sites, Stockland’s masterplan includes a primary school, neighbourhood shops, sports fields, open spaces, recreational areas. With an estimated end value of around $1 billion, the project will be Stockland’s first in Sydney’s south west growth corridor, with the first lots expected to be released in FY2014. | Company report |
| STO | Santos notes that Santos’ €1 billion hybrid issued in September 2010 will be reclassified as debt under revised S&P criteria. S&P previously classified the hybrid as equity. As a consequence, S&P has placed Santos’ BBB+ credit rating on CreditWatch with negative implications. “We are however very disappointed with S&P’s decision to reclassify the Santos hybrid instrument as debt. Retrospective application of the revised criteria is inconsistent with the detailed consultation and review undertaken with S&P in 2010 to ensure the terms and conditions of the hybrid met S&P’s criteria for 100% equity classification.” | Company report |
| SXY | Senex Energy is pleased to report that gas has flowed to surface at a rate of more than two million cubic feet per day at the Hornet-1 unconventional gas exploration well in southern Cooper Basin permit PEL 115 | Company report |
| TAH | Tabcorp Holdings notes the announcement by Standard & Poor’s Ratings Services that it has revised the criteria used to determine the equity content of certain corporate hybrid capital instruments. The change in policy by S&P will reduce the equity content of the Tabcorp Subordinated Notes for S&P credit rating purposes. S&P has stated Tabcorp’s corporate credit rating is BBB / negative outlook. | Company report |
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