| ABP | Abacus is pleased to announce the acquisition of 33 Queen Street (including 199 George Street), Brisbane, for $34 million. This represents an initial yield of 9.4%, excluding transaction costs. The property comprises two buildings: 33 Queen Street, an historic seven level building with frontage to the Queen Street Mall and immediately adjoining and connected is 199 George Street, a recently constructed modern office and retail tower with frontage to George Street. | Company report |
| ALZ | ALZ’s Operating profit for the full year was $142.1 million which was an increase of 5% on the prior year. The increase in operating earnings for the full year, demonstrates the resilience of the Group’s business model and the quality of our operating platform and management team. The Group’s statutory result for the full year, which includes the revaluation of our investment portfolio, was a net profit after tax of $180 million, a 28% increase on 2011. Operating EPS for the full year was 24.6 cents per security and distributions for the year were 21.5 cents. In effect, we paid out 87% of the Group’s operating earnings to securityholders. Net tangible asset backing at year-end increased to $3.49 per security while recurrent earnings and gearing remained within the Group’s preferred strategic ranges. | Company report |
| AQA | Eagle Downs Hard Coking Coal Project contracts have been awarded for the box cut and portal arch installation. The first soil was moved to dig the initial box cut, establishing the starting point for the drifts.Total Mineral Resource Estimate for the West Pilbara Iron Ore Project and wider Pilbara tenements now totals 2,233Mt increasing 326Mt (17%) from the previous Mineral Resource Estimate. State environmental approval for the Anketell Port was received during the Quarter. Federal environmental approval for the Anketell Port is expected during the June Quarter 2013. Cash reserves and liquid investments total approximately $613.5 million at the end of the Quarter. | Company report |
| AWE | AWE advises that the Bulu PSC Joint Venture, in which AWE holds a 42.5% participating interest, has commenced drilling an appraisal well on the Lengo gas discovery in the East Java Sea, Indonesia. The Lengo-2 appraisal well is designed to confirm a commercial volume of gas in the Lengo discovery and to test an additional, secondary target in an overlying reservoir located within the greater Lengo closure. | Company report |
| BHP | The Mad Dog 2 petroleum project in the Gulf of Mexico, where BHP Billiton has taken a 23.9% share of the estimated $8 billion project, is under threat as lead developer BP has reported a review of options is necessary following cost increases | Company report |
| BPT | BPT reports that Rincon North-1, an exploration well in PEL 92 on the western flank of the Cooper Basin, has been cased for future oil production from the McKinlay Formation and Namur Sandstone. Elsewhere in PEL 92, Sharples-1 reached a total depth of 1,961 metres on 19 April. No significant hydrocarbon shows were encountered and the well will be plugged and abandoned. Joint Venture participants in PEL 92 are Cooper Energy Limited (25%) and Beach Energy Limited (Operator, 75%). | Company report |
| CGH | Calibre is pleased to announce that its wholly owned maintenance and engineering construction business, G&S Engineering Services Pty Ltd (G&S), has been awarded a new contract for approximately $140 million for the onshore upgrade of Hay Point Coal terminal for the BHP Billiton Mitsubishi Alliance (BMA) in central Queensland. The award is in line with Calibre’s recently revised FY2013 guidance (CGH ASX Announcement of 12 April 2013). However it increases Calibre’s forward Order Book by $140 million to $1.44 billion. The Company expects approximately 60% of the project revenue to contribute to Calibre’s FY2014 revenue and the remainder over the subsequent period | Company report |
| CLO | Clough announced that the Clough Curtain Joint Venture (CCJV) has received work orders worth approximately A$76 million associated with the PNG LNG Project’s upstream contract. The PNG LNG Project is an integrated development that includes natural gas production and processing facilities, onshore and offshore pipelines and liquefaction facilities. | Company report |
| COE | Cooper Energy reports that Rincon North-1, an exploration well in PEL 92 on the western flank of the Cooper Basin, has been cased for future oil production from the McKinlay Formation and Namur Sandstone. Elsewhere in PEL 92, Sharples-1 reached a total depth of 1,961 metres on 19 April. No significant hydrocarbon shows were encountered and the well will be plugged and abandoned. Joint Venture participants in PEL 92 are Cooper Energy Limited (25%) and Beach Energy Limited (Operator, 75%). | Company report |
| CSL | CSL chief executive Brian McNamee has been deposed in the US over allegations that the global healthcare group engaged in an international cartel to increase blood plasma prices | Company report |
| ENV | Gas distributor Envestra hopes to raise $240 million to expand infrastructure and deliver more gas. The company has launched a share offer at 99 cents per share, to be taken up between April 22 and May 15. Participation in the offer is open to all shareholders who were on the company’s register on April 8. The company expects to spend $240 million upgrading old cast iron and steel mains and enhancing the capability of its networks. Shareholders can place offers in bundles of between $1,000 and $15,000. | Iress |
| FNP | Up and coming Managed Fund LHC launches becomes a substantial shareholder in FNP | Company report |
| HGO | Re-structured and revised finance arrangements match cash flow in LOM plan. Flexibility provided for distributions from Kanmantoo Project to the Parent Company. Removal of the previous condition of the Completion Test. Mezzanine Facility of $10 million maturity extended for 2 years | Company report |
| HZN | Horizon Oil is pleased to advise that it has materially expanded its acreage holdings in PNG with notice of the award of a 50% interest in a new licence PPL 430 and the acquisition of 90% interests in PPLs 372 and 373. These additions, which are part of the Company’s strategy of selectively building up its exploration acreage portfolio in and around discovered hydrocarbon accumulations (as outlined at the 2012 Annual General Meeting), increase Horizon Oil’s gross acreage position in PNG from 3,900 sq km to approximately 7,900 sq km. Horizon Oil is the designated operator of the three new licences as well as existing licences PRLs 4 and 21. | Company report |
| LYC | Lynas Corporation is pleased to announce that the Federal Court, which is the highest Court in Malaysia, has upheld the earlier decisions of lower Courts to dismiss an application by persons associated with the Save Malaysia Stop Lynas group for an injunction against Lynas’ Temporary Operating Licence. The Applicants’ appeal was dismissed with costs. | Company report |
| MQA | Macquarie Atlas released its March 2013 quarter toll revenue and traffic statistics for each of its portfolio toll roads. Weighted average toll revenue for the March 2013 quarter increased by 3.6% on the prior corresponding period (pcp) reflecting revised toll schedules implemented over the past 12 months. Weighted average traffic for the period was 1.4% higher than pcp primarily as a result of higher M6 Toll traffic volumes which were positively impacted by roadwork on competing sections of the M6 motorway | Company report |
| MSB | Mesoblast’s Phase 2 trial of allogeneic, or “off-the-shelf”, Mesenchymal Precursor Cells (MPCs) injected into damaged intervertebral discs has now completed six- month follow-up for all 100 patients enrolled. A pre-specified interim analysis of Phase 2 trial results was performed when 50% of patients completed six months of follow-up. This analysis demonstrated that a single low-dose MPC injection resulted in significantly greater reduction in low back pain and improvement in function than was seen in patients receiving the hyaluronic acid carrier alone, with no cell-related safety issues. In the interim analysis, 71% of patients who received a low dose MPC injection met the pre-specified treatment success criteria at 6 months compared with only 20% and 30% of the patients in the two control arms who received hyaluronic acid and saline. Full trial results expected in Q3 2013. Confirmation of interim results would support progression to Phase 3 for MPC treatment of chronic discogenic low back pain. | Company report |
| OZL | Production from Prominent Hill during the quarter of 20,474 tonnes of copper and 31,790 ounces of gold was slightly above expectations for the quarter, with scheduled production weighted towards the second half of 2013. These production levels were achieved despite further slippage in the overburden material in the south wall of the Malu open pit at Prominent Hill. The slip has temporarily limited access to a section of the ‘Stage 3’ mining area and remedial work is underway to restore access to this area. This is planned to be completed in August. Production for 2013 is now expected to be in the range of 82,000 tonnes copper to 88,000 tonnes copper. Gold production guidance of 130,000 ounces to 150,000 ounces is unchanged. ‘C1’ costs were higher than the previous quarter at US185c/lb* mainly due to the lower metal produced, as previously foreshadowed. This also reflects the application of the revised interpretation of the IFRIC 20 accounting standard for deferred waste. The work to progress development of an underground mine beneath the Malu open pit continued with the decline accessing the resource for testing and results confirming the higher grade interpreted mineralisation positions. Good progress is being made on the Carrapateena project in the areas of exploration, permitting and studies, seeing the project remain firmly on track to reach a decision to mine in mid-2015. The pre-feasibility study for the project officially commenced and specific mine design contracts have been awarded to highly experienced block-caving and sub-level open stoping specialists. Drilling at the Khamsin prospect, a copper discovery announced in the previous quarter, returnedfurther significant widths of ‘Carrapateena-style’ mineralisation. | Company report |
| QAN | Qantas announced the issue of A$125 million in unsecured fixed rate notes, maturing in April 2020. The notes are priced at 295 basis points over the seven year swap rate. | Company report |
| SLR | Ore mined for the quarter totalled 491,880 tonnes resulting in contained gold in ore production of 38,825 ounces. Ore milled for the quarter totalled 601,318 tonnes at a blended grade of 2.4 g/t Au for 43,760 recovered ounces. Unprocessed ore stocks available for mill feed at the end of the quarter are ~2.2 million tonnes containing ~100,000 ounces. Gold bullion sold for the quarter was 42,200 ounces at an average realised price (post-hedging) of A$1,535 oz for A$64.8 million revenue. Bullion refined and not sold at the end of the quarter totalled 3,663 ounces. 10,229 ounces forward sold at $1,364 per ounce were delivered in the quarter to close out the hedge book that came with the Integra transaction. Silver Lake had no further hedging in place at the end of the quarter. | Company report |
| SXY | Net oil production for the nine months to 31 March 2013 of 959,690 barrels (bbls) was 60% up on the 2011/12 full year result. Full year production guidance revised to 1.2 million barrels. Quarterly oil production of 299,554 barrels, down 7% due to workovers on key western flank wells, localised rain and natural decline. Successful oil appraisal at Vintage Crop-2 in PEL 516 (Senex 100%). Appraisal success at Cuisinier oil field in ATP 752P (Senex 15%) with the first two of five wells to be completed as oil producers. Coal seam gas reserves and resources upgraded by 15% to 598 petajoules (PJ). Three unconventional gas exploration wells successfully fracture stimulated in the southern Cooper Basin. In PEL 115 (Senex 80% and Operator), gas flows at Kingston Rule-1 reached 1.4 million standard cubic feet per day (mmscfd) and gas flows at Hornet-1 increased to an average of 2.2 mmscfd. In PEL 90 (Senex 100%), drilling of Paning-2 confirmed material gas volumes in the Patchawarra Trough with fracture stimulation planned for the June quarter. Preparation work commenced on the 1,030 square kilometre Dundinna 3D seismic survey on the western flank oil fairway Financial. Oil sales delivered revenues of $32.2 million for the quarter. $150.4 million cash balance and zero debt as at 31 March. | Company report |
| TRY | Troy Resources is pleased to announce that it has signed a Mandate Letter and Term Sheet with Investec Bank (Australia) Limited (Investec) for the provision of A$40 million in loan facilities (Facilities). The Facilities have been approved by Investec’s Credit Committee. As part consideration for the provision of the Facilities, subject to receipt of the approval from the Toronto Stock Exchange, the Company has agreed to the granting of 1,362,398 call options over Troy ordinary shares to Investec to the value of A$5 million with an exercise price of A$3.67 and a three year term. | Company report |
| TSE | The poor performance of Transfield Services subsidiary Light-City Buses on its bus routes in Adelaide has caused the South Australian government to transfer some of Light-City’s contract to competitor Torrens Transit | Company report |
| WES | The ASIC will investigate claims from grocer Harris Farms Markets that major retailers WOW and WES are paying above market rates for sites and sustaining losses for significant periods. | Company report |
| WOW | The ASIC will investigate claims from grocer Harris Farms Markets that major retailers WOW and WES are paying above market rates for sites and sustaining losses for significant periods. | Company report |
| Aust | Wayne Swan announced that he sees a wider deficit as the higher currency and lower terms of trade have decreased tax revenues by $7.5Bn. | Citi |
| Japan | Japanese Prime Minster Shinzo Abe’s “third arrow” of a three-part economic policy aimed to boost growth included a promise for more free trade deals. Arrows one and two – super-easy monetary policy and a big boost in government spending – have Japanese markets and Abe riding high. Skepticism about part three runs high though, as few complain about printing money and boosting spending, but opening trade in Japan would require serious reform | Seeking Alpha |
| UK | Fitch Ratings downgraded the United Kingdom’s long-term issuer default rating to AA+ from AAA, citing slowing prospects for economic growth | WSJ |
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