A glimpse at Resources players - NST, WPL, AGG

  • Dec 30, 2019 AEDT
  • Team Kalkine
A glimpse at Resources players - NST, WPL, AGG

Resources Sector of Australia is one of the major contributors towards the development of economy. Aussies gained economic wealth, occupations, high incomes, investment and tax revenues from this sector. In the below article, we will be having a look at some of the resources’ players, listed with ASX.

Let’s now have a look at the resources sector stocks in detail:   

Northern Star Resources Ltd (ASX: NST)

Northern Star Resources Ltd (ASX: NST) is in the operation of Jundee gold prospect, which happens to be the top-tier gold prospect in Australia.

Opening of Share Purchase Plan

·         The company via a release dated 24th December 2019 announced that it has opened its share purchase plan under which Eligible Shareholders can apply for up to $30,000 of new fully paid ordinary shares in the company without spending any brokerage.

·         The company would be raising an amount of around $50 million.

·         In addition, the company would be using the proceeds form SPP and placement for paying the transaction costs and taxes that are associated with the proposed acquisition as well as for working capital requirements.

In another update, the company announced that a Writ of Summons has been served against EKJV Management Pty Ltd, Northern Star (Kanowna) Pty Ltd and Gilt-Edged Mining Pty Ltd, which happens to subsidiaries of the company by Tribune Resources Limited, Rand Mining Limited and Rand Exploration NL.

However, the company added that the proceedings are immaterial to the company, other than confirming that the proceedings would be defended by the company.

Currently, the stock of NST is trading flat at a price of $11.140 as on 30th December 2019 (at AEDT 1:08 PM). The market capitalisation of the stock stands at $8.18 billion while the total shares outstanding of the company stands at 733.94 million. The stock made a high and low of $7.850 and $14.055 during the last 52 weeks. The stock has generated return of 1.36% and -4.46% during the last three-month and six-month, respectively.

Woodside Petroleum Ltd (ASX: WPL)

Woodside Petroleum Ltd (ASX: WPL) is into exploration, evaluation, development and such related activities of hydrocarbon.

Agreement for Long-Term Supply

·         Recently, the company has inked a long-term sale and purchase agreement for the supply of LNG from the company’s global portfolio for a term of 13 years commencing in 2021 with Uniper Global Commodities SE.

·         Under the terms of agreement signed, LNG’s quantity to be delivered would initially be up to 0.5 Mtpa, growing to approximately 1 million tonnes per annum compared to 2025. However, the supply from the year 2025 is subject to an investment (final) verdict on the progress of the Scarborough.  Also, the company has appointed Ms Goh Swee Chen for the role of non-executive director, in the Board of the company, which would be effective form 1st January 2020.

Signing of Agreement

·         For the Q3 FY19, the company reported production of 24.9 MMboe with a rise of 44% as compared to the prior quarter, and posted sales revenue amounting to $1,164 million, indicating a rise of 58% over the previous quarter.

·         Also, the company has inked mid-term agreements for the supply of around 3.5 million tonnes of LNG in the period 2020 to 2026 and executed major integrated turnarounds at the North West Shelf Project.

·         During the third quarter of financial year 2019, favourable final investment decision has been achieved for the Pyxis Hub project.

Currently, the stock of WPL is trading at a price of $34.800 per share, reflecting a fall of 0.486% as on 30th December 2019 (at AEDT 1:14 PM). The market capitalisation of the stock stands at $32.95 billion while the total shares outstanding of the company stands at 942.29 million. The stock made a high and low of $37.700 and $29.330 during last 52 weeks. The stock has generated return of 9.18% and -5.87% during the last three-month and six-month, respectively.

AngloGold Ashanti Limited (ASX: AGG)

AngloGold Ashanti Limited (ASX: AGG) is in the production and exploration of gold. The company via a release dated 23rd December 2019, updated the market that in combination with its joint venture partner, IAMGOLD Corporation, has agreed to sell their interests to Allied Gold in Société d’Exploitation des Mines d’Or de Sadiola S.A for the cash consideration of US$105 million, which would be payable as:

US$50 million upon the fulfilment or waiver of all the conditions precedent, as well as closing of the transaction and US$5million, payable eight days after closing.

The company would be paying US$25 million upon the production of the first 250,000 ounces from the Sadiola Sulphides Project, and US$25 million upon the production of a further 250,000 ounces from the Sadiola Sulphides Project (SSP).

First Pour of Gold

·         As per the release dated 19th December 2019, the company stated that first pour of gold from the Obuasi Gold Mine has been achieved by AngloGold Ashanti (Ghana) Limited, which happens to be the wholly owned subsidiary of AngloGold Ashanti Limited.

·         This represents the successful redevelopment of the mine into a modern, mechanized mining operation since mining activities were suspended 5 years ago.

Strong Balance Sheet

The company recently updated the market with the results for Q3 FY19 and outlined the following:

·         At the end of Q3 FY19, the company possessed a strong balance sheet with robust liquidity as well as long-dated maturities, which are providing financial flexibility.

·         During the same period, the company reported a decline of 6% in net debt to $1.646 billion as compared to $1.749 billion in the Q3 FY18.

·         At the end of September 2019 quarter, AGG remains committed for maintaining a flexible balance sheet with an adjusted net debt to adjusted EBITDA ratio target of 1x via the cycle.

Currently, the stock of AGG is trading at a price of $6.420 per share, reflecting a rise of 0.156% as on 30th December 2019. The market capitalisation of the stock stands at $12.27 billion while the total shares outstanding of the company stands at 1.91 billion. The stock made a high and low of $3.220 and $7.280 during last 52 weeks. The stock has generated return of 4.74% and 28.20% during the last three-month and six-month, respectively.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.  

·         The company via a release dated 24th December 2019 announced that it has opened its share purchase plan under which Eligible Shareholders can apply for up to $30,000 of new fully paid ordinary shares in the company without spending any brokerage.

·         The company would be raising an amount of around $50 million.

·         In addition, the company would be using the proceeds form SPP and placement for paying the transaction costs and taxes that are associated with the proposed acquisition as well as for working capital requirements.

In another update, the company announced that a Writ of Summons has been served against EKJV Management Pty Ltd, Northern Star (Kanowna) Pty Ltd and Gilt-Edged Mining Pty Ltd, which happens to subsidiaries of the company by Tribune Resources Limited, Rand Mining Limited and Rand Exploration NL.

However, the company added that the proceedings are immaterial to the company, other than confirming that the proceedings would be defended by the company.

Currently, the stock of NST is trading flat at a price of $11.140 as on 30th December 2019 (at AEDT 1:08 PM). The market capitalisation of the stock stands at $8.18 billion while the total shares outstanding of the company stands at 733.94 million. The stock made a high and low of $7.850 and $14.055 during the last 52 weeks. The stock has generated return of 1.36% and -4.46% during the last three-month and six-month, respectively.

Woodside Petroleum Ltd (ASX: WPL)

Woodside Petroleum Ltd (ASX: WPL) is into exploration, evaluation, development and such related activities of hydrocarbon.

Agreement for Long-Term Supply

·         Recently, the company has inked a long-term sale and purchase agreement for the supply of LNG from the company’s global portfolio for a term of 13 years commencing in 2021 with Uniper Global Commodities SE.

·         Under the terms of agreement signed, LNG’s quantity to be delivered would initially be up to 0.5 Mtpa, growing to approximately 1 million tonnes per annum compared to 2025. However, the supply from the year 2025 is subject to an investment (final) verdict on the progress of the Scarborough.  Also, the company has appointed Ms Goh Swee Chen for the role of non-executive director, in the Board of the company, which would be effective form 1st January 2020.

Signing of Agreement

·         For the Q3 FY19, the company reported production of 24.9 MMboe with a rise of 44% as compared to the prior quarter, and posted sales revenue amounting to $1,164 million, indicating a rise of 58% over the previous quarter.

·         Also, the company has inked mid-term agreements for the supply of around 3.5 million tonnes of LNG in the period 2020 to 2026 and executed major integrated turnarounds at the North West Shelf Project.

·         During the third quarter of financial year 2019, favourable final investment decision has been achieved for the Pyxis Hub project.

Currently, the stock of WPL is trading at a price of $34.800 per share, reflecting a fall of 0.486% as on 30th December 2019 (at AEDT 1:14 PM). The market capitalisation of the stock stands at $32.95 billion while the total shares outstanding of the company stands at 942.29 million. The stock made a high and low of $37.700 and $29.330 during last 52 weeks. The stock has generated return of 9.18% and -5.87% during the last three-month and six-month, respectively.

AngloGold Ashanti Limited (ASX: AGG)

AngloGold Ashanti Limited (ASX: AGG) is in the production and exploration of gold. The company via a release dated 23rd December 2019, updated the market that in combination with its joint venture partner, IAMGOLD Corporation, has agreed to sell their interests to Allied Gold in Société d’Exploitation des Mines d’Or de Sadiola S.A for the cash consideration of US$105 million, which would be payable as:

US$50 million upon the fulfilment or waiver of all the conditions precedent, as well as closing of the transaction and US$5million, payable eight days after closing.

The company would be paying US$25 million upon the production of the first 250,000 ounces from the Sadiola Sulphides Project, and US$25 million upon the production of a further 250,000 ounces from the Sadiola Sulphides Project (SSP).

First Pour of Gold

·         As per the release dated 19th December 2019, the company stated that first pour of gold from the Obuasi Gold Mine has been achieved by AngloGold Ashanti (Ghana) Limited, which happens to be the wholly owned subsidiary of AngloGold Ashanti Limited.

·         This represents the successful redevelopment of the mine into a modern, mechanized mining operation since mining activities were suspended 5 years ago.

Strong Balance Sheet

The company recently updated the market with the results for Q3 FY19 and outlined the following:

·         At the end of Q3 FY19, the company possessed a strong balance sheet with robust liquidity as well as long-dated maturities, which are providing financial flexibility.

·         During the same period, the company reported a decline of 6% in net debt to $1.646 billion as compared to $1.749 billion in the Q3 FY18.

·         At the end of September 2019 quarter, AGG remains committed for maintaining a flexible balance sheet with an adjusted net debt to adjusted EBITDA ratio target of 1x via the cycle.

Currently, the stock of AGG is trading at a price of $6.420 per share, reflecting a rise of 0.156% as on 30th December 2019. The market capitalisation of the stock stands at $12.27 billion while the total shares outstanding of the company stands at 1.91 billion. The stock made a high and low of $3.220 and $7.280 during last 52 weeks. The stock has generated return of 4.74% and 28.20% during the last three-month and six-month, respectively.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.  

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