| AAC | Australia’s largest beef cattle producer, the Australian Agricultural Company announced it would sell two non-strategic Queensland properties, Brighton Downs and Adelong. | Company report |
| AAC | The Australian Agricultural Company announced the completion of stage one civil works for its proposed $85 million Darwin Abattoir. AACo Managing Director David Farley said final design and tenders for the next stage of the build were nearing finalisation. He said AACo plans to fund the construction off its own balance sheet | Company report |
| AQA | Total JORC iron ore Resource Statements for the West Pilbara Iron Ore Project and wider Pilbara tenements now total 2,233Mt, increasing 326Mt (17%) from the previous Resource Statement | Company report |
| BKN | Bradken opened its new state-of-the-art low alloy steel foundry in Xuzhou, China. The new foundry adjoins the manufacturing workshop built in 2007 and has been specifically designed to manufacture the Company’s world class crawler shoe and other proprietary product lines “The Xuzhou foundry will enable Bradken to produce an additional 20,000 tonnes of cast products per year,” said Brian Hodges, Managing Director. “We are pleased with the high level of automation and our capabilities to produce these technically demanding products,” he added. | Company report |
| BOQ | Cash earnings after tax up 16% to $119.9 million. Statutory profit after tax up 37% to $100.5 million. Increase in fully franked dividend – up 2 cents to 28 cents per share. Basic earnings per share (EPS) of 37.9 cents, a 2% increase. Normalised cash net interest margin (NIM) of 1.66%, an increase of 2 basis points. Expenses tightly managed with normalised cost to income ratio down 1.7 percentage points to 44.7%. Continued focus on asset quality with impairment expenses down 19% to $59.5 million. Strong capital base – Common Equity Tier 1 capital of 8.7%. 11.6% return on tangible equity (excluding goodwill and other intangibles), up from 10.6%. | Company report |
| BPT | Beach Energy Ltd (operator) of the PEL 91 Joint Venture has advised that the commissioning of the Bauer-to-Lycium Crude Oil Pipeline is commencing next week. The PEL 91 Joint Venture is comprised of Drillsearch (60%) and Beach Energy as Operator (40%). | Company report |
| BRU | Exploration expenditure of $4,665,763 for the quarter (Dec 2012: $9,982,747), the majority of which are costs associated with drilling operations at the Yulleroo 4 and Cyrene 1 wells; and oil production from the Ungani, Blina and Sundown oilfields produced a net cash operating inflow of $187,877 for the quarter (Dec 2012: net cash operating inflow $377,836); and administration, corporate, technical and other operating costs of $3,385,958 (Dec 2012: $3,317,144), which is consistent with the previous quarter. The level of costs reflects the staff and organisational structure required for the development of the Ungani Field and the conduct of the 2013 Appraisal and Exploration Program. The Company recorded a net cash outflow of $8.7 million (before exchange rate adjustments) for the quarter (Dec 2012: net cash inflow of $4.1 million). At the end of the quarter the Company had net cash reserves of $32.6 million (Dec 2012: $41.6 million). The Company expects a net increase in its cash position to approximately $45 million during the June 2013 quarter, once the sale of interests in EP 457 and EP 458 for $21.058 million completes, and projected expenditures are incurred. The key operational activities during the quarter were: the completion of drilling operations at the Cyrene 1 well; the completion of drilling operations at the Yulleroo 4 well; continued oil production from the extended production test (EPT) phase of the Ungani Field prior to its finalisation; planning for the full field development of the Ungani Field; planning for the 2013 Appraisal and Exploration Program; and progressing the regulatory, Traditional Owner and joint venture approvals process for the 2013 Appraisal and Exploration Program. | Company report |
| BTU | Bathurst Resources wishes to advise that The Royal Forest and Bird Protection Society of New Zealand Incorporated has lodged an appeal on alleged points of law to the High Court against the interim legal decision of the Environment Court on 28 March 2013 over a) The amount of coal to be mined b) The biodiversity offset and compensation offered c) Conditions relating to the exclusion of mining in an area known as the Barren Valley | Company report |
| CFE | As a result of delays, Cape Lambert has executed a new agreement for the sale of the Leichhardt Copper Project in Queensland, Australia. Consideration is A$14.75 million, of which A$1million has been received by way of a non-refundable deposit. A further A$1million non-refundable deposit is payable on 25 April 2013. Completion of the transaction is expected to occur on or before 31 May 2013. In addition to the consideration from the sale, the Company will have A$5.6million in environmental and cash bonds returned. On completion of the transaction, Cape Lambert will have approximately A$40million in available cash | Company report |
| CGF | Challenger announced that its total assets and funds under management at 31 March 2013 was $40.9 billion, an increase of 30% for the 12 months and up 7% for the quarter. CEO Brian Benari said: “We are continuing to see strong growth in sales of our longer term annuity products. Lifetime sales, representing Liquid Lifetime and Care Annuity sales, comprised 18% of total retail annuity sales for the quarter, resulting in a growing proportion of sales from these relatively new products. As we approach the final and seasonally busiest sales quarter we are on track to deliver retail annuity net book growth of $500 million or 8% for the year to 30 June 2013. | Company report |
| CPL | Coalspur Mines is pleased to announce that it has entered into binding agreements with EIG Global Energy Partners to provide a senior secured debt facility of up to US$350m. Proceeds from the Facility are expected to fund the majority of development capital for Stage 1 of the Company’s Vista Coal Project, which has an estimated capital cost of C$445 million. Vista Stage 1 will produce approximately 3Mtpa of clean coal with production commencing in 2015. The Facility gives Coalspur access to funding which allows Vista to maintain its development schedule. Construction is expected to commence following regulatory approval, which is expected at approximately the same time as shareholder approval of the funding arrangements. | Company report |
| DLS | Beach Energy Ltd (operator) of the PEL 91 Joint Venture has advised that the commissioning of the Bauer-to-Lycium Crude Oil Pipeline is commencing next week. The PEL 91 Joint Venture is comprised of Drillsearch (60%) and Beach Energy as Operator (40%). | Company report |
| DML | Boseto projecy had a 53% increase in copper and 62% increase in silver production quarter on quarter. 4,183t Cu and 185,756oz Ag in concentrate produced during the quarter, the best quarterly metal production to date. Material movement from open pits reached the design rate in March. Mining ramp up to be completed in the June quarter. Significantly “in the money” hedge book (marked to market value of ~$56 million as at 15 April). Value enhancing projects, including the Zeta underground and coal fired power station, continued on schedule. | Company report |
| FMG | Significant reduction in C1 costs to US$43.61 per wet metric tonne (wmt) reflecting lower strip ratios and operational efficiency initiatives. Record 25.3wmt mined, 51% higher than the prior quarter, as Christmas Creek ramps up and Firetail mining operations commence. Quarterly shipments totalled 20.2 million tonnes, a 3% increase on the prior quarter and a 60% increase on the previous corresponding period (pcp). Average realised Cost and Freight (CFR) sales price of US$131 per dry metric tonne (dmt), up from US$111/dmt in the prior quarter reflecting the continued strength in the iron ore price. Commissioning of the 20mtpa Firetail ore processing facility (OPF) has commenced, allowing ramp up of Fortescue’s production capacity to 115 million tonnes per annum (mtpa). Expansion projects on budget and schedule to produce at a 155mtpa run rate by end December 2013. Rail and port infrastructure sale process well progressed, in line with expectations. and guidance. Strong operating cashflows maintaining March net cash balance at US$1.5bn | Company report |
| HIL | Revenue for the half year was $551.3 million. Earnings before interest and tax (also known as EBIT), and before cash generating unit (CGU) impairment, restructuring and closure costs and other associated impairments for the half was $15.7m. The corresponding net profit after tax (or NPAT) number was $8.2m. These EBIT and NPAT figures are non-IFRS numbers which the Company uses internally to assess the operating performance of the business. After CGU impairment, restructuring and closure costs of $110.3 million, we recorded an after tax loss of $73.6 million. This is in line with the guidance given to shareholders at the Annual General Meeting in November last year. | Company report |
| ILU | In line with Iluka’s previous announcements regarding production curtailment actions2, Iluka’s combined production of zircon, rutile and synthetic rutile (Z/R/SR) in the March quarter was 110.9 thousand tonnes, materially lower than the preceding December 2012 quarter (down 33.2 per cent) and the March 2012 quarter (down 48.9 per cent). Further measures to reduce production are being implemented in the June quarter, including idling of all synthetic rutile operations, with production expected to decline further as a result, before the restoration of more usual operating settings as demand recovers and a draw down of finished goods inventory occurs. Such a restoration can be achieved promptly as market conditions warrant. Mineral sands revenue for the three months to 31 March 2013 was $139.9 million. The lower revenue compared with the same period in 2012 ($177.1 million), notwithstanding higher sales volumes, mainly reflects lower received prices period-on-period. | Company report |
| KRM | Permission to undertake various development activities at Talang Santo was granted by the Indonesian Mines Department. Final submission of the updated Mine Development Plan to the Indonesian Mines Department. Geo‐technical infill drilling highlights high grade zones at Talang Santo; 4.2m@ 40.2g/t Au and 35g/t Ag from 302.4m including 1.0m @ 97.0g/t Au & 77g/t Ag from 302.4m.. Exploration winze and drive on the high silver vein at Way Linggo continues to demonstrate the existence of high grade silver mineralisation. | Company report |
| LYC | During the quarter, Lynas achieved first production of separated Rare Earths products for customers and commenced a process of customer product qualification. The Lynas Advanced Materials Plant (LAMP) has now produced the full suite of Rare Earths products and the plant is ramping up towards achieving targeted Phase 1 nominal capacity of 11,000 tonnes per annum REO by the end of Q2 2013. The Company remains well funded into the generation of sustainable operating cashflow. Following the capital raising in late 2012 the Company had $172m of unrestricted available cash on hand as at 31 March 2013. During the period, Lynas received a $15.2 million payment from the Australian Taxation Office for eligible research and development expenditure in the prior financial year, principally on the development of the Lynas Mt Weld Rare Earths Project. Construction of the Phase 2 expansion of the production capacity of the LAMP to 22,000 tonnes per annum REO was near completion at the end of the quarter | Company report |
| MDL | Tyssedal Operations remain steady with the plant operating at a rate of 200kt of titanium slag per annum, with production of 50.7kt of titanium slag (up 11% on 1Q 2012) and 28.6kt of high purity pig iron (up 13% on 1Q 2012). Tyssedal continued to produce at an annualised rate of around 200,000 tpa of titanium slag, producing 50.7kt of titanium slag and 28.6kt of high purity pig iron (HPPI) during the quarter. With subdued demand from pigment customers as they continue to run down their finished pigment inventories, lower prices for titanium slag are being encountered, down some 20% on 2012 average achieved price levels. Pricing for HPPI was also softer during the quarter. Grande Côte Construction 70% complete, with key highlights during the period being the launch of the completed dredge into the start‐up pond and completion and commencement of power plant commissioning. Grande Côte is now approximately 70% complete, with the final construction phase centring on the on‐site fabrication of the wet concentrator plant (WCP) and the mineral separation plant (MSP). Construction expenditure during the quarter was $92 million, taking total spent at March‐end to US$416 million. | Company report |
| NFE | Mine production record of 4mt up 12%, concentrate sales 482kt up 2% @ US$114/dmt. Quarterly EBITDA US$10m | Company report |
| NWH | NRW is pleased to announce it has secured a $67 million contract to undertake various earthworks, piping and associated works together with drill and blast operations at the at the Roy Hill project, located 115kms north of Newman. | Company report |
| PAN | Panoramic has farmed out the Lake Grace and Griffins Find exploration projects to Auzex Exploration. Auzex will sole fund A$2.4 million of expenditure over 18 months to earn a 60% interest in the tenement package. A Joint Venture will be established after Auzex has earned its interest | Company report |
| PRR | The Company had A$25.18 million in cash and term deposits as of the end of the quarter. The majority of funds spent during the quarter are related to development activities of Prima’s lead product Cvac | Company report |
| PRU | 57,179oz of gold were produced by PRU, setting a new quarterly production record and exceeding December 2012 Quarter production of 51,090oz by 12%; In March 2013, the average SAG mill throughput rate of 934 dry tonnes per hour, equated to an annual throughput of 7.5Mt at 91.7% plant availability, indicating that plans to achieve a throughput rate of 8.0Mtpa by mid-year are progressing well; The total site cash cost1 for the Quarter of US$1,132/oz, was 7% higher than in the December Quarter due to costs of crusher repairs plus several other one-off costs; Production and cost guidance for the six months ending 30 June 2013 of 105-125,000 ozs of gold at an all-in site production cost of US$1,100/oz remains unchanged; | Company report |
| RIO | RIO expects to cut as much as US$5 billion of costs out of the global miner over the next two years, said chief executive Sam Walsh | The Australian |
| RMS | Group quarterly production of 20,514 fine ounces of gold at a cash cost of A$1,076 per ounce. Mt Magnet production in WA increased to 14,553 fine ounces of gold at a cash cost of A$1,396 per ounce. Record production of 5,831 ounces in the month of March. Milling of Wattle Dam and remnant ore at Burbanks produced 5,961 fine ounces of gold at a cash cost of A$296 per ounce. Group cash flow from operations after all operating and mine development costs (including mine stripping costs) was $4.6M. Mining commenced at the high grade Western Queen project in WA with first ore to be delivered to Mt Magnet in the September quarter 2013. A Mining Proposal for the high grade Coogee deposit in WA was lodged with the DMP during the quarter after securing all other relevant licences. Completed a Resource estimate for the Water Tank Hill project and a Scoping Study for the Saturn Deeps project at Mt Magnet Continued working with Gold Fields to complete the Vivien acquisition in WA | Company report |
| SBM | SBM has completed the sale of the Southern Cross Operations to Hanking Gold Mining Pty Ltd, a subsidiary of China Hanking Holdings Limited. Southern Cross Operations ceased mining and processing operations during the December 2012 quarter, and had subsequently been placed onto care and maintenance. Final consideration for the sale is $18 million cash as well as the assumption by the Purchaser of rehabilitation obligations applying to the tenements being sold. | Company report |
| SGT | Optus Business has announced a five year, $60 million contract with Suretek, for the delivery of fixed network and high-speed mobile services. The deal will also support Suretek in the delivery of new capabilities and an improved customer experience in the Asia- Pacific region. Suretek is a specialist provider of security solutions including wireless alarm communications, remote video-monitoring and redundancy solutions | Company report |
| SPN | The Australian Energy Regulator has released a decision regarding SP AusNet’s ‘insurance pass through event’ framework. Under the regulatory framework, network businesses, in limited circumstances, are able to recover costs that were not accounted for when prices were approved. They can apply to the regulator to ‘pass through’ these additional costs. Costs in excess of those covered by insurance are an example of the type of costs that may be permitted. The AER has decided that the definition of an insurance event will be expanded to include the costs which exceed the insurance limits covered by pre-2011 insurance policies. The AER’s decision acknowledges SP AusNet’s previous rights to apply for recovery of costs from customers. | Company report |
| STO | Santos today announced first quarter production of 12.1 million barrels of oil equivalent (mmboe), 2% lower than the first quarter of 2012. Gas production of 52.8 PJ (9.1 mmboe) was in line with the corresponding period, with higher Otway Basin production offset by lower production from the Cooper Basin due to major planned shutdowns. The average gas price of $5.43/GJ for the March quarter was a record and 4% higher than the corresponding quarter, driven by higher Eastern Australian and Asian gas prices. Quarterly crude oil production of 2.0 mmbbl was 19% below the previous quarter, due to the planned dry docking of Mutineer-Exeter and lower oil production from Stag and the Cooper Basin. Sales revenue of $713 million for the March quarter was 5% lower than the corresponding quarter, primarily due to lower sales of third party gas. Production guidance for 2013 is maintained at 53 to 57 mmboe | Company report |
| SYD | Total passenger traffic for March is estimated to have increased 3.5% on the pcp, with domestic traffic estimated to be up 2.3% on the pcp and international traffic (excluding domestic oncarriage) up 6.0% on the pcp. The launch of the Qantas and Emirates partnership occurred on 31 March, marking the commencement of code share flights and the move to the new Dubai hub. Tiger Airways announced the launch of new services between Sydney and Cairns, with the fourweekly service set to increase to daily from June. The flights will deliver around 2,520 additional seats to the market each week. With the commencement of the service, Tiger will operate on 7 domestic routes from Sydney | Company report |
| SYR | SYR conducted 8,800m of aircore drilling at the Fungoni mineral sands prospect in Tanzania which has led to an Exploration Target of 5-10 million tonnes @ 4-6% Heavy Minerals (HM). Drill results included the following: 10m @ 12.7% HM in hole CSAC0007 | Company report |
| TGS | Tiger Resources is pleased to provide clarification of its sales arrangements from the Kipoi Copper Project following media reports of a government ban on exports of copper and cobalt concentrates from the Democratic Republic of Congo (DRC). Tiger believes there will be no material impact on its operations or the continued sale of copper concentrate from Kipoi. All copper concentrate produced at Kipoi is sold at the mine-gate under the terms of an off-take contract with Trafigura Beheer BV. The copper concentrate is currently sold either to domestic customers in the DRC or exported to the Chambishi smelter in Zambia. The percentage of copper concentrate sold by export in Q1 2013 was 17%. Under existing market conditions local sales and export sales achieve very similar net revenues. There is sufficient demand from local smelters in the DRC to accommodate all of the concentrate sales from Kipoi. Currently, export sales of Kipoi concentrate are made under valid export permits executed by the Governor of Katanga and the Regional Minister of Mines. The DRC Government is seeking to encourage miners to process and refine copper concentrates in- country to secure the value-add economic benefits of beneficiation and refining for the nation. The Minister of Mines is aware of Tiger’s current development of a solvent extraction electro winning (SXEW) plant at Kipoi, which will result in production of a high value-added LME-grade copper cathode product from mid-2014. | Company report |
| TLS | Defence has signed a $1.1 billion contract with Telstra for the provision of telecommunications services. The six-and-a-half year contract will enable Defence to transform its communications technology including better integrating fixed telecommunications with satellite and tactical networks | Company report |
| WES | Suppliers who do not reduce their prices will be dropped by supermarket giant Coles said | The Australian |
| WES | “Coles’ comparable food and liquor sales growth of 5.3 per cent for the quarter was strong, driven by good volume growth following further investments in price, particularly in grocery, and continued growth in fresh produce sales. Coles achieved its sixteenth consecutive quarter of growth in comparable sales and sales density.“Bunnings’ store sales increased 6.9 per cent for the quarter, with solid comparable store sales growth of 4.0 per cent. The Bunnings business continued to execute its strategic agenda, achieving good growth in all major trading regions and key product categories. “Target recorded total sales growth of 1.0 per cent during the quarter with comparable sales 1.9 per cent above last year. Following strong sales growth in January, trading at Target progressively softened during the balance of the quarter. Stronger apparel and toy sales offset continued difficult conditions in electrical and entertainment categories. “Kmart’s total sales increased 3.6 per cent for the quarter, with comparable sales growing 3.0 per cent. Kmart’s continued investment in lowering prices on everyday family items, together with a strong focus on availability and in store execution, continued to drive strong transaction and volume growth.” | Company report |
| WPL | WPL endured a significant setback after key talks on third-party gas supplies with global energy companies Exxon Mobil and Hess Corporation ended | AFR |
| WPL | Woodside achieved first quarter production volumes of 21.9 million barrels of oil equivalent (MMboe) in line with our 2013 production guidance. Sales revenue was US$1,445 million. Woodside recorded a 55% increase in production compared to the corresponding quarter in 2012, largely due to the continued high reliability of Pluto LNG, coupled with the ongoing strong performance of the North West Shelf business. | Company report |
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