| AQA | Aquila Resources is pleased to announce that the Commonwealth Minister for Sustainability, Environment, Water, Population and Communities has approved the Anketell Port proposal, in which the Company has a 50% interest.. All primary WA State and Federal environmental approvals have now been granted for the mine, rail and port elements of the West Pilbara Iron Ore Project. | Company report |
| AWE | AWE has been advised by the Operator, Origin Energy, that the Yolla-A platform has achieved significant production improvement as a result of successful well interventions and is currently producing gas at rates of approximately 57 Tj/day, up from 42 Tj/d that was achieved prior to the well intervention program. Following the successful completion of a workover at Yolla-3 and wireline logging at Yolla-4, the Yolla-A platform is producing increased quantities of gas, condensate and LPG within the overall limitations of the platform’s fluid handling capacity. | Company report |
| BCK | Aspiring iron ore miner Brockman Mining has formally applied through the West Australian government for access to Fortescue Metals Group’s railway lines in the Pilbara region. | AFR |
| BHP | BHP will reduce spending next financial year to US$18 billion, down from US$22 billion this year, said chief executive Andrew McKenzie | AFR |
| BND | Bandanna Energy is pleased to announce that it continues to meet key milestones in relation to its Springsure Creek Project approval process, with the submission of mining lease applications (MLAs) for the project’s infrastructure corridor and Triumph Creek rail loadout facility. Bandanna Energy Managing Director, Mr Michael Gray, said that the company was focused on meeting the rigorous regulatory approval processes in Queensland, and in turn setting a new benchmark for the co-existence of underground mining and farming. Bandanna has a current application for a mining lease (MLA70486) to cover the Springsure Creek mine area for the project. The two new applications (MLA 70501 and MLA 70502) have been submitted to the Queensland Government and provide direct transport and services corridor access to the nearby existing Bauhinia rail line and ensure that no coal haulage will occur along public roads. The infrastructure corridor and Triumph Creek rail loadout MLAs are key elements of the approvals process for Bandanna Energy’s Springsure Creek Project. The company’s plan to transport coal from its Springsure Creek mine via a purpose-built private haul road or overland conveyor to rail loadout infrastructure is aimed at minimising the environmental impact of the project. The rail loadout facility will connect to the Bauhinia Line, through the Blackwater-Gladstone rail corridor to Wiggins Island Coal Export Terminal (WICET) utilising infrastructure already in place and minimising the required capital expenditure for the project. | Company report |
| BOQ | Bank of Queensland has raised $900 million by issuing mortgage-backed bonds to investors, almost double the $500 million originally intended, due to strong demand | AFR |
| CDU | In-pit 300m deep dewatering boreholes drilled at Rocklands South towards the end of 2012, unexpectedly intersected high-grade zones of copper mineralisation both within the current resource model but more importantly, outside the extents of the current resource model in areas of limited or no deep drilling. Subsequent diamond drilling is delineating a significant zone of high-grade mineralisation with copper grades significantly higher than those indicated in the resource model, which was calculated based on drilling that did not intersect the areas in question. The current plan is to drill the entire geophysical anomaly to the North West to extend Rocklands South along strike. The latest hole DODH465 confirms that high grade copper mineralisation continues along strike to the north west with two high grade intersections at depths below 160m. | Company report |
| GNC | GrainCorp has reported strong first half earnings of $227 million EBITDA (HY12: $235 million) and net profit after tax (NPAT) of $109 million (HY12: $122 million). After significant items, the company recorded a statutory NPAT of $88 million. GrainCorp Managing Director and Chief Executive Officer Alison Watkins said the result reflected the eastern Australian harvest returning to a more typical size, an above-average carry-in and a solid performance from the company’s processing businesses, including GrainCorp Malt and the new GrainCorp Oils business. | Company report |
| GWA | GWA has successfully completed the refinance of its syndicated banking facility has put in place a new $275m syndicated facility. | Company report |
| HIL | Moving full steam ahead in the sale of its Fielders and Orrcon industrial steel businesses | AFR |
| IMF | IMF announces that it proposes to fund claims by former and current Brisconnections Unitholders against Arup Pty Ltd, who prepared the traffic forecasts for the Brisbane Airport Link toll road. The claims arise out of the purchase of Stapled Units (“Units”) in the Intial Public Offering in July 2008, pursuant to the Product Disclosure Statement issued by Brisconnections Management Company Ltd. Unitholders who purchased Units may be eligible to participate in the claim which IMF will fund subject to the specific factors set out in the funding documentation, including a level of participation acceptable to IMF. | Company report |
| LEI | Leighton Holdings Limited’s lawyers received a letter from Maurice Blackburn Lawyers, notifying of a proposal to commence a class action relating to the 11 April 2011 disclosure by the Company of a revision of its profit forecast for the 2011 financial year. As previously advised in September 2011, the Company denies there is a proper basis for the alleged claim. Leighton will vigorously defend any class action which may be lodged. | Company report |
| LNC | For the three months ended 31 March 2013, LNC daily sales averaged 5,141 gross (3,793 net) BOEPD (>99% oil). Operating margin increased to $81.16 per BOE from $52.83 per BOE in the previous Quarter (calculated as revenue, including the effect of hedges, less operating expenses and general and administrative expenses). The average sales price for the Quarter was $112.33 per BOE. Quarterly adjusted EBITDAX was $27.0 million. Mobilisation for Phase 2 of Umiat Drilling Program to commence late 2013. | Company report |
| MTS | Metcash Limited today announced that it has entered into an agreement to acquire the assets and operations of national wholesale car and truck parts business Australian Truck and Auto Parts Group (ATAP), which specialise in brake, steering and suspension products. The acquisition also includes Auto Brake Service (ABS), a national franchise network of 53 brake and steering and auto repairs specialists. The assets and operations being acquired currently generate annual sales of circa $90m. The acquisition by AAD is both synergistic and strategic as it strengthens the national footprint and distribution network of the enlarged automotive group, including adding warehouses in NSW and SA. The acquisition provides scope for expansion of the ABS franchise network and buying synergies. The purchase price is approximately $84 million including transaction costs. Metcash’s equity in the enlarged automotive parts distribution business will increase from 75.1 percent to approximately 83 percent. | Company report |
| NFK | Full financial year 2013 revenue of $938.5 million. Earnings Before Interest and Tax (EBIT) loss of $58.0 million. Net loss for the year of $42.6 million. Order book of $710 million as at 31 March 2013. 8% Reduction in Lost Time Injury Frequency Rate. Norfolk Group (Norfolk) and RCR Tomlinson (RCR) remain committed to completing the scheme of arrangement announced by Norfolk on 15 April 2013 (Scheme) | Company report |
| NST | Northern Star Resources is pleased to advise that drilling has returned high-grade gold intersections 100m below the previously known limits of mineralisation at the Paulsens mine in WA. The intersection of 9.8m at 17.3gpt, including 0.4m at 184gpt, was made 100m vertically below the deepest mineralisation previously recorded at Paulsens’ key Voyager 1 lode | Company report |
| NXT | NXT is pleased to announce that the Company has achieved practical completion of the base building for its Sydney (S1) data centre facility. Achieving practical completion for the S1 facility triggers the obligation for payment by APDC of the S1 Development Fee of $45.5 million to NEXTDC. Under previously announced arrangements, the S1 lease between NEXTDC and APDC commences on practical completion and is for an initial term of 15 years with options for up to another 25 years. | Company report |
| OGC | OceanaGold is pleased to announce the declaration of commercial production at the Didipio Mine located in Luzon, Philippines. | Company report |
| PDN | On the cusp of selling a stake in one of its African uranium mines | AFR |
| RIO | Federal Environment Minister Tony Burke has approved Rio Tinto Alcan’s South of Embley bauxite mine and port development project in western Cape York. Mr Burke approved the $1.3 billion mine under national environmental law subject to 76 conditions. | iress |
| SFR | Sandfire is pleased to report an increased Mineral Resource for the 1.5Mtpa DeGrussa Copper-Gold Mine in Western Australia. As at 31 December 2012, the total Mineral Resource at DeGrussa comprised 13.8 million tonnes grading 4.8% Cu and 1.8g/t Au for 664,000 tonnes of contained copper and 777,000oz of contained gold. An additional 64,000 tonnes of contained copper and 93,000oz gold has been added to DeGrussa’s mineral inventory following depletion to December 2012, with the additional Inferred Mineral Resource to now be incorporated into the DeGrussa mine plan. Depletion totalled 45,000 tonnes of contained copper and 37,000 ounces of gold to 31 December 2012. The previously published Mineral Resource (In Situ and stockpiles) stated as at 31 March 2012 was 13.5 million tonnes grading 4.8% Cu and 1.7g/t Au for 645,000 tonnes of contained copper and 721,000oz of contained gold. | Company report |
| SPN | State Grid International Development China will acquire a 19.9% stake in SP AusNet from Singapore Power Limited. SPI will continue to be the largest securityholder in SP AusNet, with a stake of 31.1% and the public continuing to own 49%. As a result. SP AusNet notes release by Standard & Poor’s lowering its long-term rating on SP AusNet Group and SP AusNet’s subsidiaries to ‘BBB+’, from ‘A-’. SP AusNet also notes today’s release by Moody’s Investor Service placing SP AusNet and SP AusNet’s subsidiaries ‘A1’ rating on review for downgrade. | Company report |
| STW | STW Group has launched a digital advertising agency network in South East Asia to grow revenues outside of the crowded local market | The Australian |
| TCL | Melbourne East West tollroad will progress despite the Federal Government’s budget denying the Victorian Government the $1.5bn needed to start the project | AFR |
| TEL | Telecom’s adjusted EBITDA guidance for FY13 remains $1,040 million to $1,060 million, albeit management expect that the result will be near the bottom end of this range, primarily due to a further increase in price competition in the fixed line market and continued margin pressure in Gen-i. This guidance excludes one-off restructuring costs associated with the FY13 cost reduction and strategic change programme. Telecom provided an estimate of the impacts of its change programme, as it seeks to build a leaner, more agile organisation with a competitive cost structure centred around the right portfolio of business activities. As a further update, Telecom now expects one-off restructuring costs in FY13 of $100 million to $130 million (an increase from $70 million to $80 million estimated on 28 March). The increase reflects the inclusion of estimated non-cash accounting adjustments associated with the cessation of business activities (such as onerous lease contracts and other asset write offs), which will be finalised at year end. Approximately half of the expected total restructuring costs are non-cash in nature. | Company report |
| VAH | Virgin Australia anticipates that capacity growth for the second half of FY13 will be around 4%, down from previous guidance of 5-7%. Virgin Australia also expects capacity growth to further moderate into FY14, with capacity growth for the first half of FY14 expected to be within the range of 4-5%. Virgin Australia continues to expect to record a positive Underlying Profit Before Tax for the fourth quarter, and it is currently anticipated that Underlying Profit Before Tax for FY13 will be below FY12. The adverse impact to revenue from the introduction of the Sabre system in the third quarter is not likely to be recovered by the end of FY13, given the slower than anticipated improvement in trading and economic conditions. Available Seat Kilometres increased by 3.7%, Revenue Passenger Kilometres decreased by 3.9% and Revenue Load Factor decreased by 5.6 points on the pcp. International operations achieved passenger growth of 4.0% on Available Seat Kilometre growth of 3.3% for year-to-date April 2013 and Revenue Load Factor was 76.6%, down from 77.2% on the pcp | Company report |
| VHP | The bookbuild for the A$449 million initial public offering of specialist fertility treatment network Virtus Health VHP was oversubscribed | AFR |
| WBC | Westpac is hoping to cash in on the $100 billion of superannuation funds that change hands each year by stack its 853 branches with financial advisers as it ramps up efforts to cross-sell its superannuation and wealth-management products to customers. | AFR |
| WES | Wesfarmers will boost its capital return by paying out between A$2.4 billion and A$3.6 billion of excess capital to shareholders by the end of fiscal 2014, equivalent to at least A$2 a share, say Bank of America Merrill Lynch analysts in a report. The analysts add that such a capital return could be discussed in depth at Wesfarmers’ briefing day on May 29. | iress |
| WES | Target’s earnings for the 2013 financial year to date have been affected by a number of factors including: sales performance during the second half of the year, exacerbated by a late start to the winter season impacting both sales and margin; higher levels of clearance activity resulting from excess inventory; higher than anticipated shrinkage rates; and increased costs mainly associated with restructuring activities. Accordingly, Target’s earnings before interest and tax (EBIT) for the 2013 financial year are now expected to be between $140 million and $160 million. | Company report |
| WES | Wesfarmers by the end of next year may possess A$3.6 billion in excess capital with pressure building to increase returns to investors. | The Australian |
| WOR | At the Company’s half year results announcement on 13 February 2013 WorleyParsons provided guidance for FY2013 of growth compared to FY2012 underlying earnings. The company now expects to report a net profit after tax in the range of $320 million to $340 million compared to FY2012 underlying earnings of $345.6 million. The WA business has been impacted by the softening of demand for resource infrastructure as clients defer major projects and implement cost management initiatives. This has particularly impacted the company’s Infrastructure & Environment and Minerals, Metals & Chemicals business. In addition, the company’s fabrication and construction business in Canada, WorleyParsonsCord, has been impacted by a softening in construction activity in the Canadian oil sands market and will not achieve the growth previously expected. Outperformance in a number of other markets will serve to largely offset the decline experienced in WA. The company continues to achieve outperformance in the Chemicals sector, particularly in China and Brazil, and growth in the Hydrocarbons sector has continued | Company report |
| WOW | WOW due to receive a further $50m from the sale of Dick Smiths | AFR |
| WOW | Woolworths will commence a tender offer to buy back up to US$630 million in aggregate principal amount of outstanding Notes. The offer is being made in order to reduce the amount of outstanding Notes and will be funded by surplus cash and drawings from existing credit facilities | Company report |
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