Live ASX News Today
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16th Aug 05:40 PM AEST
Plexure Group (ASX:PX1) and TASK to merge
Global mobile engagement software company Plexure Group Limited (ASX:PX1) announced on Monday that it has struck a binding, conditional deal to acquire leading transaction platform provider TASK for AU$120 million.
As per the announcement, this deal will convert Plexure into an end-to-end cloud engagement and transaction platform provider for major hospitality enterprises and grocery organisations.
TASK gives an integrated transaction management platform for Enterprise customers featuring point-of-sale, online ordering, loyalty, kiosk, and mobile apps on a globally deployed and scalable single technology stack. TASK has a customer base of 50 global brands in the restaurant, food service, entertainment and stadium venues sectors.
The strategic benefits feature the diversification of Plexure’s customer base, expanded product portfolio for both companies and cross-selling opportunities.
Upon the completion, TASK’s CEO, Daniel Houden, will be appointed CEO of the Plexure Group.
The stock PX1 closed 6.862% higher at AU$0.545 per share today.
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16th Aug 04:55 PM AEST
Empire Energy (ASX:EEG) completes Beetaloo acquisition
Empire Energy Group Limited (ASX:EEG) shared on Monday that it has completed the acquisition of Pangaea (NT) Pty Limited’s (Pangaea) and EMG Northern Territory Holdings Pty Limited’s (EMG NT) 100% interests in EP167, EP168, EP169, EP198 and EP305. All these tenements are located onshore in the Northern Territory’s Beetaloo Sub-basin.
The announcement about the acquisition of the tenements was done on 14 April 2021 on the ASX.
As per the release, the Company has paid AU$5,000,000 in cash for Pangaea acquisition along with 119,894,868 shares while, for the EMG acquisition, it has paid AU$1,060,606 in cash along with 29,696,970 shares.
The stock EEG closed at AU$0.275 per share today.
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16th Aug 04:53 PM AEST
Talon (ASX:TPD) acquires 60% shareholding in GreenFlame Energy
Talon Energy Ltd (ASX:TPD) shared on Monday that it has entered an agreement with Applied Vapor Solutions LLC (AVS) to gain 60% shareholding in GreenFlame Energy Pty Ltd.
As per the release, GreenFlame has an exclusive patent licence for the application of a zero CO2 emissions Superheated Steam Technology process. This enhances recovery of hydrocarbons (methane) from coal seams while sequestering CO2 and producing hydrogen.
GreenFlame has also struck a deal with Strike Energy Limited for the acquisition of Strike’s 67% participating interest in PEL96, located in the South Australian Cooper Basin. PEL96 holds the Strike operated Jaws deep coal seam gas project.
The release stated that the appraisal program at the starting will be funded from Talon’s existing cash reserves.
The stock TPD was trading 4.546% lower at AU$0.010 per share at 3:30 PM AEST.
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16th Aug 04:53 PM AEST
ASX falls 0.6% on COVID-19 woes; A2 Milk jumps 12% on takeover buzz
Australian shares ended lower on Monday as mixed corporate earnings and rising COVID-19 cases kept investors sidelined. Index heavyweights Beach Energy, Lendlease, Bendigo and Adelaide Bank witnessed sell-off after reporting earnings results.
The ASX200 fell 46.40 points or 0.61% to close at 7,582.50, led by decline in blue-chip energy and bank stocks.
The record rise in daily case tally in NSW and fear of lockdown extension in Melbourne spooked market sentiment. In the past 24 hours, NSW recorded 478 new locally acquired infections and seven deaths, while Victoria reported 22 cases. The persistent rise in daily cases and lockdown measures are likely to derail Australia’s economy recovery.
Among the individual stocks, infant formula company A2 Milk (ASX:A2M) emerged as top gainer, closing 12.6% higher on takeover buzz. As per report, global food giant Nestle is eying to acquire the specialty dairy firm.
Some of the other notable gainers were Carsales.com (ASX: CAR), property trust GPT Group (ASX:GPT) and electronics retailer JB Hi-Fi (ASX: JBH).
On the losing side, Bendigo and Adelaide Bank (ASX: BEN) topped the chart with 9.5% loss. Some of the other losers include oil producer Beach Energy (ASX: BPT), real estate firm Lendlease Group (ASX:LLC) and cloud-based wagering platform PointsBet Holdings (ASX:PBH).
The equity market witnessed mixed trading as six of 11 sectoral indices ended in green. The energy sector declined the most and settled with 3% loss, followed by financial, which fell over 1%. Among others, material and utilities also closed in negative terrain.
Bucking the trend, consumer staples sector emerged as top performer by rising 1.2%. Some of the other notable gainers were industrial, tech, A-REIT, telecom and health care.
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16th Aug 02:10 PM AEST
Firefinch (ASX:FFX) hits over three-year peak on progress for lithium JV
Shares of lithium explorer Firefinch Limited (ASX:FFX) rose as much as 9.7% to AU$0.625, their highest since 1 March 2018 on Monday. However, the stock moved bearish soon after.
The Company stated it has entered legal agreements to progress a joint venture with a unit of Jiangxi Ganfeng Lithium Co at the Goulamina lithium project in southern Mali.
FFX added first production from Goulamina will be accelerated and is now expected in 2023.
The stock has risen for the fifth consecutive session and the stock price has more than tripled this year, as of the last close.
FFX traded 3.509% down at AU$0.550 per share at 2:00 PM AEST.
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16th Aug 01:57 PM AEST
GPT Group (ASX:GPT) soars on strong half-year earnings
Shares of property trust GPT Group (ASX:GPT) jumped as much as 4.077% to trade at AU$4.850 per share at 1:30 PM AEST.
GPT said net profit after tax attributable for the half year rose 246.1% from a year earlier to AU$760.5 million.
The Company also posted HY total revenue of AU$989.1 million, up 179.6% from a year ago.
In a separate release, GPT confirmed that it is in exclusive due diligence to acquire a portfolio from residential property development business Ascot Capital for about AU$800 million.
GPT said portfolio comprises 26 logistics and industrial assets, along with four office assets.
The stock posted its biggest intraday percentage gain since 10 June 2021.
GPT stock is up 3.6% this year, as of the last close.
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16th Aug 01:50 PM AEST
LendLease Group (ASX:LLC) falls, expects restructuring charge in FY22
Shares of LendLease Group (ASX:LLC) fell as much as 7.387% to trade at AU$11.660 per share at 1:30 PM AEST.
The construction and property firm said it will book AU$130 million to AU$170 million pre-tax restructuring charge in H1 of FY22.
LLC said restructuring is expected to result in estimated impairment expense in first half statutory net profit of AU$230 million to AU$290 million pre-tax.
For the full year, the Company has reported profit after tax of AU$94.28 million, compared with AU$31.97 a year earlier.
The stock is down 3.9% this year, as of the last close.
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16th Aug 01:36 PM AEST
JB Hi-Fi (ASX:JBH) falls as virus curbs hurt sales since July
Shares of JB Hi-Fi Limited (ASX:JBH) fell as much as 1.3% to AU$48.350 at the morning hours. However, the stock corrected and started trading bullish towards the afternoon.
Australia's no.2 electronic retailer stated its domestic sales have fallen since July amid the ongoing COVID-19 lockdowns. The Company stated sales at its JB HI-FI Australia and The Good Guys units had fallen 14.6% and 8.1% respectively since 1 July.
The Company, however, says net profit after tax rose 67.4% to AU$506.1 million and online sales soared 78.1% to AU$1.1 billion.
The stock is down marginally this year, as of the last close but was trading 2.5% higher at AU$49.550 per share at 1:15 PM AEST.
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16th Aug 01:18 PM AEST
Australia's gold stocks climb as bullion prices rise
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Australian gold sub-index AXGD gained as much as 2.2%, marking its best day since 2 August 2021.
Gold stocks tracked bullion prices which hovered near a one-week high on Monday, as a plunge in U.S. consumer sentiment allayed some concerns of an early tapering by the Federal Reserve.
Gold miners Ora Banda Mining Limited (ASX:OBM) and Geopacific Resources Ltd (ASX:GPR) led gains on the sub-index, rising up 13.04% and 9.48%, respectively.
Index majors Northern Star Resources Limited (ASX:NST) and Newcrest Mining Limited (ASX:NCM) advanced as much as 2.5% and 3.1%, respectively.
AXGD is down 13.6% YTD, as of the last close.
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16th Aug 01:12 PM AEST
Austal (ASX:ASB) hits over three-month high on U.S. navy contract
Shares of Austal Limited (ASX:ASB) rose as much as 2.71% to AU$2.46 - highest since 29 April 2021.
The defence shipbuilder has got U.S. navy contract to repair and maintain all Littoral Combat Ships (LCS) in Mayport, Florida.
The largest defence exporter in Australia has received similar contract from the U.S. navy to work on LCS on West Coast, on 5 August.
With an existing service centre in Singapore, ASB will be support the U.S. navy LCS fleet globally.
The Contract is likely to last until August 2026.
The stock is down 10.11% YTD, as of the Friday's close.
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16th Aug 01:11 PM AEST
Bendigo and Adelaide Bank (ASX:BEN) to acquire Ferocia
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Bendigo and Adelaide Bank Limited (ASX:BEN) shared on Monday that it will acquire the Melbourne-based fintech, Ferocia Pty Ltd. This acquisition is aimed to improve BEN’s digital strategy and design the future of banking for the new generation of customers.
According to the announcement, the acquisition will bolster the partnership by merging the unified innovation, heritage and similar capabilities to further develop a digital banking proposition. This will give digital and technical support to the bank to enhance the user experience. It will also internalise Ferocia’s market-leading digital capability and consolidating ownership of Up – Australia’s highest rating banking app.
The Company shared that the acquisition will allow Bendigo and Adelaide Bank to develop its digital ecosystem, adding Up’s exciting product roadmap to the existing services provided by the Bank including the digital home loan capability of their partner, Tic:Toc. The acquisition will also strengthen the delivery and bring efficiencies in the way the Bendigo e-banking app and Internet banking platform are delivered to customers.
Meanwhile, BEN stock was spotted trading 9.550% down at AU$10.040 per share at 12:46 AM AEST.
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16th Aug 12:45 PM AEST
Genex (ASX:GNX) appoints new Chief Financial Officer, shares rise
Genex Power Limited (ASX:GNX) shared on Monday that the Company is all set to welcome the new Chief Financial Officer. Craig Francis, the General Manager of the Commercial Finance in GNX will be taking over the position of CFO effective from 1 October 2021.
Crag joined Genex in September 2017 and with more than 13 years of experience in finance, and investment banking in natural resources, energy, and renewables sectors in both Australia and the UK, Craig became the primary choice of GNX for the CFO position.
Craig also holds experience in working with boutique corporate finance advisers RFC Ambrian and Helmsec Global Capital in London and Sydney. At Genex, Craig has led the commercial development and financing of the flagship AU$775 million Kidston Pumped Storage Hydro project, which reached financial close in May 2021.
The GNX stock traded 1.086% up at AU$0.232 per share at 12:40 PM AEST.
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16th Aug 12:44 PM AEST
Metcash (ASX:MTS) announces completion of 200 million Off-Market Buy-Back
The share price of Metcash Limited (ASX:MTS) gained 2.933% to trade at AU$4.210 per share at 12:10 PM AEST as the food and staples retailer announced the successful completion of an off-market Buy-Back of AU$200 million of its ordinary shares. MTS has also elected to buy back AU$25 million more than the indicative AU$175 million announced on 28 June 2021.
The Buy-Back price, as per the release, was share AU$3.52 per share which is a 14% discount to the market price. Metcash bought back 56.8 million shares for total consideration of AU$200 million. All shares bought back by Metcash will be canceled.
There was a strong demand for the Buy-Back, a scale back of 83.1% in relation to successful tenders was required.
The strong shareholder support meant only shares tendered at a 14% Tender Discount or as Final Price Tenders were accepted. Shares tendered for discounts equal to or less than 13% were not bought back. For shareholders who successfully tendered their shares, AU$2.67 per share of the Buy-Back Price is expected to be treated as a fully franked dividend for taxation purposes.
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16th Aug 12:26 PM AEST
Strike Energy (ASX:STX) sells copper basin interest to achieve net zero targets
Oil and Gas explorer Strike Energy Limited (ASX:STX) has entered into a binding share sale and purchase agreement, for its interest in Cooper Basin permit PEL96 (Klebb & Jaws). The agreement is with Greenflame Energy Pty Ltd. for sale of 100% of issued share capital in STX subsidiary, Strike Energy 96 Pty Ltd, holder of the copper basin interest.
Settlement of the transaction is conditional on obtaining necessary third-party approvals.
With sale of these interests STX does not expect to register any loss after fully impairing the assets in June 2020. The sale will release STX from all ongoing operational commitments and planned rehabilitation at Klebb & Jaws.
Sale of these assets is consistent with STX’s strategy of focusing on the delivery of its vision to become Australia’s first Net Zero 2030 gas, renewables and fertiliser producer. STX is to continue reviewing other interest received in its remaining Cooper Basin positions as well.
STX shares traded 4.478% down at AU$0.320 at 12:20 PM AEST.
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16th Aug 12:25 PM AEST
BlueScope (ASX:BSL) shares rise on record financial performance in FY21
Steel manufacturer BlueScope Steel Limited (ASX:BSL) shared its FY21 results today. The Company has confirmed a record performance in FY21. The underlying EBIT for the year was AU$1.72 billion, three times more than FY20. BSL achieved a net profit after tax (NPAT) of AU$1.19 billion in FY21. It is an impressive AU$1.10 billion increase over FY20.
All of BSL’s operating segments have performed well on account of strong demand and steel spreads. Operating cash flow for the year was AU$898 million. It was achieved after considering Capex on the North Star expansion. The balance sheet reflected a strong position with AU$798 million net cash.
BSL also announced a final dividend of 25 cents per share, compared to 8 cents pcp. It also promised a special dividend of 19 cents per share and an on-market buy-back of up to AU$500 million.
BSL is now seeking to accelerate its strategic growth plans to position itself for a low carbon future. As reported, its near-term action plan includes a five-year climate investment program of up to AU$150 million.
BSL shares traded 1.647% up at AU$25.910 per share at 12:15 PM AEST.
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16th Aug 12:16 PM AEST
Energy, bank stocks drag ASX 0.5% lower; A2 Milk up 10%
Australian shares fell further by the afternoon, after making a negative start, amid sell-off in the big banks and energy stocks. The disappointing corporate earnings results coupled with correction in commodity prices dented market sentiments. Many companies remained cautious on their respective outlooks due to business disruption caused by the COVID-19 pandemic.
The benchmark index, ASX 200, was currently trading 31.50 points or 0.41% lower at 7,597 by lunchtime. During the day’s trade so far, the index declined as much as 0.5% to hit an intraday low of 7,593.80.
The equity market witnessed broad-based selling as eight of the eleven sectors were in red. The energy sector topped the chart with a 1.6% loss, followed by financials, which dropped over 1%. Consumer discretionary, information technology, utilities, health care, telecom and industrial were also among notable losers.
Meanwhile, material was the best performer with 0.7% gain, followed by A-REIT and consumer staples, which rose marginally higher.
The rise in COVID-19 cases also kept investors sidelined. In the past 24 hours, NSW recorded 478 new locally acquired infections and seven deaths, while Victoria registered 22 cases. Today's figures are the highest number of daily case tally and deaths recorded in a single day since the beginning of the pandemic. The Victorian government is considering extending lockdown beyond Thursday, with new clusters emerging in different parts of Melbourne.
Bendigo and Adelaide Bank (ASX: BEN) was the top percentage loser on the ASX, falling over 9% after reporting earnings results.
Some of the other notable losers include oil producer Beach Energy (ASX: BPT), real estate firm Lendlease Group (ASX:LLC), cloud-based wagering platform PointsBet Holdings (ASX:PBH) and financial firm HUB24 (ASX: HUB).
On the flip side, infant formula company A2 Milk (ASX:A2M) topped the gainers chart by rising 9.6%. Some of the other top performers were metal recycling firm Sims (ASX:SGM), real estate firm GPT Group (ASX:GPT), gold miner Silver Lake Resources (ASX:SLR) and agro business GrainCorp (ASX:GNC).
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16th Aug 11:49 AM AEST
Mining behemoth BHP is expected to exit the petroleum business
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The world’s biggest miner BHP Group (ASX:BHP) is expected to decide on the future of its petroleum business in the next week's results.
- The mining giant is facing intense pressure from activist investors to reduce its fossil fuel footprints. Activist investor Market Forces are filing a resolution for annual meetings scheduled in October and November of 2021.
- BHP was expected to approve US$802 million investment in the Gulf of Mexico's oil and gas projects but is facing pressure from some activist investors over environmental concerns.
- An exit from the petroleum business would constitute a major shift in the company's environmental, social, and governance (ESG) credentials.
- BHP’s petroleum business assets are located in Trinidad and Tobago, Australia, Algeria, and the Gulf of Mexico. The division contributed nearly 5% of the company’s underlying earnings of US$14.7 billion during the first half of the financial year, which ended in December 2021.
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16th Aug 11:47 AM AEST
Oil dips on rising coronavirus cases
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Crude oil prices tumbled on Monday after leading investment banks and the International Energy Agency weathered concerns regarding the rapid spread of coronavirus globally, slowing oil demand.
- October delivery Brent Crude oil futures traded 0.50% down at US$69.89 per barrel, whereas October delivery WTI crude oil futures traded 0.95% down at US$67.56 per barrel as of 16 August 2021 at 10:24 AM AEST.
- IEA stated that a slower demand for oil is expected in the remaining year because of the rising COVID-19 cases.
- However, improved demand for oil is expected from leading economies of the world including the US and other nations where the vaccination rate is relatively higher.
- However, leading investment banks including Goldman Sachs and JP Morgan are less bullish on crude oil.
- On the flipside, the Organization of the Petroleum Exporting Countries (OPEC) remains firm with its forecast and expects oil demand to rebound this year.
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16th Aug 11:27 AM AEST
Nexus Minerals (ASX:NXM) gains upto 30% on high-grade assay results at Crusader Prospect
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The share price of Nexus Minerals Limited (ASX:NXM) soared up 3.681% to trade at AU$0.115 per share at 11:15 AM AEST today as the Company has announced drilling at its Crusader Prospect has delivered 14 metres @8.8g/t Gold.
Key highlights:
- The announcement stated that the RC drilling has intersected further high-grade gold at Crusader.
- The drilling tested the depth and strike extensions beneath previously drilled mineralisation.
- Crusader mineralisation intersected over an extensive +600m of strike and down to +500m deep.
- Crusader / Templar mineralised corridor currently extends over 1.6km of strike.
- Mineralisation was hosted in a silicified quartz porphyry unit with extensive alteration and stockwork veining.
The Crusader Prospect is testing for the depth and strike extensions to mineralisation intersected in NXM’s diamond drilling in 2021.
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16th Aug 11:14 AM AEST
Boss Energy (ASX:BOE) starts trading on US OTCQB Market
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Uranium-focused explorer Boss Energy Limited (ASX:BOE) announced on the ASX that its shares have been upgraded to trade at the OTCQB Venture Market (OTCQB) in the US. It has been assigned the ticker symbol ‘BQSSF’.
Over 20% of BOE share capital is held by US-based MCAP Securities LLP. It had initiated proceedings to make a market for BOE securities on the US OTC Markets Group platform. Alongside this request, growing international demand for equity in BOE has led to this upgrade.
Upgrade to the OTCQB offers BOE an opportunity to build visibility, expand liquidity and diversify its shareholder base in the US. BOE continues to have its primary listing on the ASX. Streamlined market standards enable BOE to utilize its ASX reporting and make it available in the US.
BOE has also confirmed that admission to the OTCQB is non-dilutive i.e., no new shares will be issued on the OTCQB.
BOE shares traded 3.126% down at AU$0.155 per share at 11:10 AM AEST.
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16th Aug 11:01 AM AEST
Why are Dimerix (ASX:DXB) shares trading 45% higher today?
The share price of pharma firm Dimerix Limited (ASX:DXB) soared upto 45% to trade at AU$0.340 per share at 10:50 AM AEST, as the Company has successfully completed the placement of AU$20 million to fund its phase 3 trials.
The Company shared that it has got firm commitments from investors via a two-tranche placement of around 100 million new fully paid ordinary shares in the Company to raise a total of AU$20 million.
Key highlights:
- The placement was led by major investor Andrew Chapman's Merchant Fund Management (Merchant), which has subscribed for AU$6.0 million.
- Andrew Chapman's Merchant Fund Management was followed by investments of biotech Investment Manager, Merchant Funds Management, and shareholder Peter Meurs for a total of AU$9.5 million.
- Existing shareholders will be offered to invest in a Share Purchase Plan (SPP) to raise around AU$2 million on the same terms as the placement.
- The proceeds will be used to fund DMX-200 Phase 3 program in Focal Segmental Glomerulosclerosis (FSGS). The Company currently has two key Phase 3 COVID-19 trials underway.
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16th Aug 11:01 AM AEST
ASX 200 trades lower as market breadth deteriorates
The Australian share market has opened 0.16% lower on Monday as a correction in commodity prices is weighing on the domestic mining and energy shares, while investors look forward to the corporate earnings from heavyweight names this week.
As of 10:30 AM AEST, the ASX 200 has further fallen by 0.27% 20.5 points to 7,608.4. The ASX All Ordinaries Index has also seen a dip, falling 0.26% to 7,877.2, being dragged by Praemium Limited (ASX:PPS) and Bendigo Adelaide Bank Limited (ASX:BEN), falling 14.29% and 7.39%, respectively.
The top losers of the ASX 200 in the opening session were Bendigo Adelaide Bank and Lendlease Group (ASX:LLC) which has fallen over 6.4%. A few shares trying to keep index from falling were The a2 Milk Company (ASX:A2M) and Sims Limited (ASX:SGM), both gaining 5.7% and 4.62%, respectively.
GPT Group (ASX:GPT) has reported a profit jump of more than 200% during the first half. Total revenue also rose 179.6% to AU$989.1 million, with net tangible assets per security increasing to AU$5.86 per share. An interim dividend of 13.3 cents per share has also been announced.
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16th Aug 10:43 AM AEST
IMDEX (ASX:IMD) registers a record-breaking revenue of A$264.4 million, shares gain over 15%
Global mining technology firm, Imdex Limited (ASX:IMD), shared its full year results for FY21 ended 30 June 2021 that took up the stock’s price to trade at AU$2.590 per share, up 15.111% at 10:40 AM AEST.
Key Highlights-
- IMD registered a record-breaking revenue of AU$264.4 million, up 11.2%.
- It achieved an EBITDA growth of 38.8% of AU$75.5 million.
- IMD generated strong cash flow from operations showing an increase of 8.6%.
- Balance sheet reflected a strong net cash position of AU$47.4 million, up 47.7%.
- IMD also paid an interim fully franked dividend of one cent per share.
- It declared a final fully franked dividend of 1.4 cents per share and a special dividend of 0.4 cents per share.
- IMD acquired AusSpec and its aiSIRIS software to use AI technology for enhancing real-time rock knowledge.
- It signed three joint development agreements to support new product developments and delivery.
ASX Stocks Delta Drone, IMDEX, Nexion, Beach Energy in Action today
IMD claims to have had a positive start to FY22. The Company is seeking to focus on digital transformation and increased R&D developments alongside developing client relations.
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16th Aug 10:30 AM AEST
NEXION Group (ASX:NNG) finalises Blue Sky Telecom acquisition
NEXION Group Ltd (ASX:NNG) shared on 16 August 2021 that it is all set to complete the acquisition of Blue Sky Telecom Pty Ltd on revised terms.
The revised transaction is a single AU$2 million cash payment that will be formally settled as soon as practical in the coming weeks.
ASX Stocks Delta Drone, IMDEX, Nexion, Beach Energy in Action today
It was envisaged that Blue Sky would continue to operate as an independent business along-side NEXION Networks in Western Australia but on further analysis, both parties agreed that integrating the teams would deliver a stronger business better able to tackle larger projects across Western Australia and deliver higher EBITDA for the NEXION Group.
The founders and owners of Blue Sky, Daniel Fairbairn and Simon MacFarlane will remain in the business for at least six months.
As per the Company, Blue Sky is a perfect fit for the NEXION Group, specialising in telecommunications and satellite services that complement the Hybrid Cloud and SD-WAN capability of NEXION. Blue Sky currently has over 380 active clients with the majority located in Western Australia. Its revenue grew by 20% to AU$2.4 million in FY20 and growth accelerated materially, despite COVID to AU$3.93 million (unaudited) in FY21. Importantly, the Company stated, approximately 86% of this is long term recurring revenue and will materially increase the percentage of recurring revenue in NEXION’s mix.
Meanwhile., the stock traded last at AU$0.215 per share.
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16th Aug 10:28 AM AEST
Strike Resources (ASX:SRK) confirms loading of first direct shipment Iron ore
Mining company, Strike Resources Limited (ASX:SRK), on Monday, confirmed loading of the first shipment of iron ore from the Port of Pisco.
The MV Federal Nakagawa docked at the Port of Pisco is currently loading approximately 35,000 tonnes of direct shipping iron ore (DSO) sourced from SRK’s Apurimac Project in Peru.
Loading is due completion by Wednesday, 18 August (Peru local time). The MV Federal Nakagawa will then under the terms of SRK’s Offtake Agreement with Good Importing International (Good Importing) Pty Limited deliver its load to China.
SRK has received US$4.5 million in pre-payments for this first shipment so far, with the balance of sale proceeds to be received prior to ship arrival in China.
Meanwhile, SRK is focusing on building its local infrastructure in Peru. It will support an increased annualised production rate in the near term.
SRK shares traded last at AU$0.215 on ASX.
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16th Aug 10:07 AM AEST
Delta Drone (ASX:DLT) to acquire Arvista, to expand drone services
Global Drones-as-a-service provider Delta Drone International Limited (ASX:DLT) today announced that it has struck a deal to acquire 60% of Arvista Pty Ltd. Also, the Company has signed a Shareholders Agreement for a Call Option to acquire the remaining 40% of Arvista in the future.
Arvista is a Perth-based provider of aerial and terrestrial surveying services for the mining, engineering and construction industries.
ASX Stocks Delta Drone, IMDEX, Nexion, Beach Energy in Action today
As per the Company, the acquisition of a strategic stake in Arvista not only provides DLT with an immediate presence in Australia, but also with an experienced team of drone aerial survey operators which currently serves a contracted client base of mining and other engineering-related companies, to capture important survey data and other important information.
The acquisition of 60% of the shares in Arvista is expected to be completed within 30 days.
The last traded share price of the stock DLT was AU$0.023 per share.
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16th Aug 10:07 AM AEST
Beach Energy (ASX:BPT) ends year of mixed fortunes with good progress on gas growth
Beach Energy Limited (ASX:BPT) shared its FY21 full year results as well as FY22 guidance, announcing an underlying Net Profit After Tax of AU$363 million.
As per the release, Beach retained a strong balance sheet with net debt of AU$48 million, net gearing of 1.5% and liquidity of AU$402 million at year end.
The Company stated despite the recent downgrade to Western Flank production and reserves, the Board has maintained its 1 cent per share dividend for shareholders.
ASX Stocks Delta Drone, IMDEX, Nexion, Beach Energy in Action today
The Company’s underlying EBITDA of AU$953 million was towards the mid-point of original FY21 EBITDA guidance of AU$900 – AU$1,000 million provided in August 2020. This was supported by two favourable arbitration outcomes over a contract dispute relating to a Kupe GSA and the Otway Lattice gas price review.
The last traded share price of the stock BPT was AU$1.210 per share on the ASX.