| ABU | ABM Resources presents an update on extensional exploration work in the area around Old Pirate particularly the southern section of the Bandit Trend. Bandit South Area displays Widespread outcropping quartz veins. New rock chip sample results up to 108g/t gold being the highest grade result ever off the main Old Pirate trend. Other rock chip results in the area include 8.3g/t and 13.1g/t gold. Off-site modular pilot-plant construction for the Old Pirate staged development continues on schedule and budget. Digging scheduled to commence in June with processing scheduled to start in July 2013 | Company report |
| ALL | Potential for capital management program given deleveraged balance sheet | JB Were |
| AQA | Following two independent valuations, averaging A$108.8 million on a 100% basis, Sumitomo has elected not to acquire an interest in the Tenements. The MOU provided for the potential acquisition by Sumitomo of between a 20%–50% interest in Aquila’s portfolio of 100% owned Queensland-based coal exploration permits excluding the Washpool Hard Coking Coal Project and Talwood Coal Project | Company report |
| AZJ | AZJ releases its UT4 submission | Company report |
| AZJ | “the whole isue of capital management is squarely on the agenda. We’ve been thinking of a broad range of options” | AFR |
| BCI | 1.2Mt mined by Nullagine JV for the quarter. 1.1M wmt shipped by NJV for the quarter – BC Iron attributable tonnes (0.86M wmt). Mining and shipping exceeds ‘wet season’ forecast. Average CFR sales price of US$131/dmt up ~25% from US$105/dmt in the previous quarter. Ramp up to raise production levels to 6Mtpa during Q4 FY2013 on track. Project Inventory results confirm potential to increase Life of Mine | Company report |
| BHP | BHP Billiton has signed a definitive agreement to sell its Pinto Valley mining operation and the associated San Manuel Arizona Railroad Company (SMARRCO) to Capstone Mining Corp for an aggregate cash consideration of US$650 million. | Company report |
| BKL | Strong sales result, domestic margin pressures driven by strong promotional activity and revised lower guidance. | JB Were |
| BXB | rumour of a demerger of the Recall infromation management division | AFR |
| CDU | After a short break from drilling at Rocklands South whilst the diamond rigs were required elsewhere on the project, the drilling programme is once again defining high-grade zones of copper at grades significantly higher than those in the resource block model, and in places multiples of the averages indicated in the resource block model. High-grade copper mineralisation is also being intersected in areas not currently included in the current Rocklands South resource. The resource block model is based on drilling that did not intersect the areas now identified to host high-grade sulphide mineralisation. | Company report |
| COH | Neutron Biotech looking to break COH’s stranglehold on the Chinese market by selling significantly cheaper devices. | AFR |
| CWN | Packer receives approval to build a casino and resort complex in Columbo | The Australian |
| CWN | Manila project JV raises $368m | AFR |
| DLS | Drillsearch Energy is pleased to announce that it has launched an offering to raise a minimum of US$100 million, with US$25 million upsize option, of senior, unsecured, guaranteed convertible bonds (Convertible Bonds), due September 2018. The Convertible Bonds will be issued by Drillsearch (Finance) and will be convertible into fully paid ordinary shares in Drillsearch. The proceeds of the issue will be used to repay the A$100 million debt facility provided by the CBA to fund Drillsearchs’ acquisition of Acer Energy Limited and for general corporate purposes. | Company report |
| GNC | As part of the takeover of grain and related commodities storage and logistics specialist GrainCorp by United States grains leviathan Archer Daniels Midland, farmers are campaigning to ensure GrainCorp’s 280 storage sites remain open to third-party marketers | AFR |
| GRR | North Pit mining operations running ahead of schedule. Successful on time and on budget completion of the annual common equipment shutdown during March 2013. Focus on driving operating costs lower delivering results with quarterly C1 unit costs ~6% below budget and cash operating costs ~10% below budget. Strengthening product prices continued, averaging US$144.71 per tonne (FOB Port Latta) for the quarter – an increase of 17% from the December 2012 quarter. Cash, term deposits and trade receivables of A$164.3 million. No net debt and low gearing levels. Southdown Project team down-sizing complete. Search for an equity partner continues. | Company report |
| HGG | HGG gearing up to compete head-to-head with former parent AMP for a slice of Australia’s $1.4tr superannuation pool, targeting AUM of $10b by 2018 | AFR |
| IFL | Seeking to make its 4th boutique fund management business within the past year | AFR |
| IIN | IIN and MTU involved in serious merger talks last year but unable to come to an agreement | AFR |
| IRN | The Tampakan copper and gold deposit, discovered in 1992, is one of the largest-known undeveloped copper-gold deposits in the world. Tampakan is a 2.94 billion tonne mineral resource at 0.51% copper when measured at a 0.2% copper cut-off grade. It is estimated to contain 15 million tonnes of copper and almost 18 million ounces of gold, with potential for growth. The Tampakan Mine Project Feasibility Study outlines a proposed mining operation that involves:An initial 17 year life-of-mine, with potential for extension; A start-up mining and milling capacity of 66 million tonnes per annum; Annual copper production of 450,000 tonnes and annual gold production of 435,000 ounces over the first five years of operation; An average life-of-mine copper production rate of 375,000 tonnes per year; An average life-of-mine gold production rate of 360,000 ounces per year; and A development cost of US$5.9 billion, including the provision of US$900 million for a power station. Construction is targeted to begin in 2015, with first production now scheduled for 2019. Indophil holds a strategic 37.5% stake in SMI and hence in the Tampakan Project while Xstrata – soon to be Glencore – holds the balance. | Company report |
| KCN | Group quarterly gold production of 47,509 ounces at a total cash cost of US$1,051/oz. Chatree production in-line with December quarter while Challenger transitions from a bias towards capital development to the mining of stopes. Reviews of project expenditure and operating plans are underway following the recent volatility in metal prices. Significant exploration results from A Pit and Q Prospect at Chatree continue to highlight the strong resource upside. Column leach testing commenced on-site for the potential initial heap leach stage at Nueva Esperanza. | Company report |
| LLC | LLC preparing to sell its stake in UK Shopping Centre, Bluewater | AFR |
| MGR | MGR in exclusive due diligence on a portfolio of seven GE Capital Real Estate office properties after pitching a $590m bid | AFR |
| MIO | Majority Shareholders have indicated that they each hold 37.6% of the shares in the Company, resulting in a combined shareholding of 75.2%. | Company report |
| MQG | Following its acquisition of a 19.84% holding in Homeloans Ltd, MQG is planning to supply funding to Homeloans’ mortgage arm in replacement of some of the current arrangements, which include Bendigo and Adelaide Bank, ING Direct and Resimac | AFR |
| NST | Gold production up 16% on the previous quarter and above internal forecasts. 24,492oz sold at $1,569/oz for $38.4M revenue. 24,633oz mined and 23,817oz recovered. All-in sustaining costs of $935/oz. JORC Reserves at Paulsens Gold Project increased 81% to 204,000oz2, Grade up 23% to 5.3gpt. JORC Resources at Paulsens Gold Project increased by 38% to 555,000oz1, Grade up 14% to 5.7gpt. JORC Resources at Ashburton Gold Project increased by 66% to 1.7Moz. Northern Star’s total resource inventory now +2.2Moz. Acquisition of JV interest in key FMG tenements completed. Cash, Bullion and Investments of $66.5M at 31 March | Company report |
| NWS | As NWS splits into two companies with publishing assets to reside under the new News Corp and film and television assets going to 21st Century Fox, Rupert Murdoch’s pay will rise 15 percent | SMH |
| NWS | NWS reaches $139m settlement with a group of US shareholders | SMH |
| OGC | OGC gold production of 67,463 ounces and copper production of 3,663 tonnes in the first quarter of 2013. Cash costs for the first quarter from the New Zealand operations only were $687 per ounce on gold sales of 58,585 ounces. Didipio commissioning continues to advance well with steadily increasing throughputs and recovery rates. Since commencement of production in December 2012, Didipio has produced 7,251 ounces of gold and 3,866 tonnes of copper. Blackwater Project’s Inferred resource increased to 0.6 Moz ounces of gold at an average grade of 21.0 g/t. | Company report |
| OMH | OMM March quarterly production of 195,607 tonnes grading 33.38% Mn. Quarterly shipments of 204,190 wet tonnes (195,451 dry tonnes). Commencement of the development of the new Zulu pit – pre-stripping campaign fully expensed during the March quarter resulting in C1 unit cost of A$4.79/dmtu. 31 December 2012 Bootu Creek Mineral Resource of 29.5 million tonnes at 22.2% Mn – a net reduction of 0.4 million tonnes after allowing for ore processed during 2012. 31 December 2012 Bootu Creek Ore Reserve of 15.7 million tonnes at 20.6% Mn – a net increase of 0.6 million tonnes after allowing for ore processed in 2012 OMQ First quarter production of 22,269 tonnes of HCFeMn alloy and 59,716 tonnes of manganese sinter ore. First quarter sales of 16,694 tonnes of HCFeMn alloy and 31,077 tonnes of manganese sinter ore | Company report |
| QBE | QBE mortgage insurance arm experienced growing claims as a greater number of borrowers default on their home loans | SMH |
| RFE | RFE completed 10 wells during the quarter taking the total completed (operated) horizontal Mississippian wells to 20. Completion operations initiatives clear inventory of wells awaiting completion and post completion optimization work begins to deliver results. Three rigs operating with spud-to-spud cycle times averaging 26 days with nine (operated) horizontal Mississippian wells spudded during the quarter Receipts from sales for the quarter totaled US$4.05 million (15.4% increase on the previous quarter) Gross production for the quarter was 131.07Mboe (1,456Boe/day) (31.4% increase on the previous quarter) Mississippian reserve upgrade delivers 9.6Mmboe (3P) (49% increase in six months) and facilitates US$65 million revolving credit facility | Company report |
| RIO | RIO may soon sell $1b Diavik diamond mine in Canada | AFR |
| ROC | Sales volumes of 0.519 MMBOE; up 19% from 4Q12 (0.435 MMBOE) mainly due to inventory movements at Blane. Total sales revenue of US$57.3 million; compared to US$46.1 million in 4Q12 mainly due to higher sales volume from Blane and a higher realised oil price. Average realised oil price (excluding hedging) of US$110.43/BBL, a 2% discount to Brent (Brent oil price averaged US$112.60/BBL during 1Q); compared to US$106.04/BBL in 4Q12. At 31 March, ROC had net cash of US$51.3 million with cash of US$60.3 million, offset by debt of US$9.0 million. ROC had no hedge positions at 31 March 2013. | Company report |
| RXM | With 120Mt @ 0.53% copper, 0.14g/t gold and 12.8% iron (0.77% Cu eq), RXM’s Hillside Project has an eight year Ore Reserve base with 636,000 tonnes of contained copper (pending a further reserve upgrade by the end of 2013). Diamond drilling continues to intersect shallow copper mineralisation and Rex expects to detail a revised Mineral Resource Estimate for Hillside as part of the Bankable Feasibility Study, which commenced this quarter and is on track for completion in the second half of 2013. Four diamond drill rigs on the Yorke Peninsula and 11,400 metres drilled in quarter. Mining Lease documents submitted for Hillside. Further shallow and high-grade copper intersected at Hillside as part of the planned drilling program to further upgrade the Mineral Resource. Best results include: 11m @ 2.6% copper, 0.3 g/t gold and 16% iron (2.9% Cu eq) | Company report |
| SEA | Sundance Energy has active development programs targeting the Eagle Ford, Mississippian/Woodford, Wattenberg, and Bakken/Three Forks. Inclusive of the full quarter’s Eagle Ford production, in which the Company owned an economic interest, production averaged approximately 1,900 boepd net of royalties. Excluding Eagle Ford production prior to the implementation date of the merger with Texon, the Company averaged 1,227 boepd net of royalties. Production for the quarter was inline with the Company’s previously released guidance. | Company report |
| SGP | SGP possibly considering a partnership with FKP over its retirement operations | The Australian |
| SGT | SGT considering the sale of Optus’ $2b satellite business and also the potential of an Optus IPO | AFR |
| SWM | SWM remains in talks to renew its output deal with NBCUniversal in the midst of rumours that the US network is poised to strike a deal with Foxtel | AFR |
| TAH | Wagering and gaming firm Tabcorp has reported a 2.6% lift in third quarter revenue to $480.3m. Tabcorp chief executive David Attenborough says revenue growth in the three months to March was broadly in line with the first half. All four of Tabcorp’s businesses – wagering, media and international, gaming services and Keno – continued to yield positive revenue results, Mr Attenborough said. “Tabcorp has continued to deliver a steady trading performance”. “Our businesses are benefiting from the investments we have made in markets and products that can generate growth.” Tabcorp said total wagering revenue rose 7.2% in the third quarter. But, its share of revenue from wagering business, which generates the bulk of the company’s earnings, was down 4.7%, at $368.6m. The company said the decline reflected new arrangements in Victoria, with Tabcorp operating a 50/50 joint-venture with the Victorian Racing Industry, compared with 75/25 previously. | Company report |
| TEL | Telecom has today announced it has signed a conditional agreement to acquire privately-owned New Zealand IT infrastructure and data centre company Revera Limited for $96.5 million. The acquisition will add considerable momentum to the long-term growth strategies of Telecom and Revera, improving their capabilities, expanding their market reach and deepening the overall Telecom group offer. | Company report |
| TEN | TEN looks on the cusp of signing a $20m deal with Cricket Australia for broadcasting rights to Sheffield Shield and T20 Big bash. | AFR |
| TLS | TLS considering a float sale of its majority-owned Chinese car sales website Autohome for $1bn. | AFR |
| TPM | TPM could emerge as Australia’s fourth mobiel network amid rumours the company has registered for the Federal Government’s spectrum auction | SMH |
| TRS | To open as many as 80 stores over two years to take advantage of the collapse of rival Retail Adventures | AFR |
| UGL | UGL set to announce the spin-off of its DTZ Property business | The Australian |
| VAH | Domestic Available Seat Kilometres increased by 3.1%, Revenue Passenger Kilometres increased by 0.2% and Revenue Load Factor decreased by 2.1 points on the pcp. This reflects the strategic deployment of additional Airbus 330 aircraft on transcontinental routes, contributing to growth in Available Seat Kilometres and Revenue Passenger Kilometres. For the first time in six months the trend in yield growth has reversed with yields for the month of March 2013 higher than the pcp. International operations achieved passenger growth of 2.7% on Available Seat Kilometre growth of 3.1% for year-to-date March 2013 and Revenue Load Factor of 79.0% down from 79.3% on the pcp. | Company report |
| WPL | Increasing doubt over the development of Sunrise after East Timor suggested WPL was backing away from using a floating LNG platform to develop the resource | AFR |
Filed under: Company News
