Live ASX News Today
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13th Sep 07:57 PM AEST
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13th Sep 07:23 PM AEST
WOTSO (ASX:WOT) sets foot in WA buys the first property
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The ASX-listed real estate company WOTSO Property (ASX:WOT) shared that it has exchanged contracts concerning its first purchase in Western Australia. WOT purchased the property situated at 22 Ormsby Terrace, Mandurah, WA, as a sight unseen due to the ongoing lockdowns and border closures.
WOT defied the normal corporate process, the purchase was made through virtual tours and street view, but the group is confident the risk will be worthwhile and is excited to see what it can bring to Mandurah.
WOT has purchased for AU$2 million after it being listed for AU$2.95 million. The purchase was funded by recycling funds from the AU$3.5 million sales of a legacy asset in the Company's portfolio.
Meanwhile, on the ASX, the WOT stock closed at AU$1.400 today, up 0.358%.
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13th Sep 07:21 PM AEST
Gladiator Resources (ASX:GLA) closes strong on Tanzanian Exploration acquisition
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On Monday, ASX-listed Gladiator Resource Limited (ASX:GLA) announced that it has completed due diligence and exchanged contracts to acquire Zeus Resources which now holds over 1,764kmsquare of highly prospective exploration tenements located in Tanzania, East Africa (Tanzania Project).
Post this announcement, the share price of the stock GLA, Gladiator Resource rose 8.108% to close at AU$0.040 per share on the ASX.
The announcement said:
- Zeus Resources enhances exploration portfolio with two extra neighbouring tenements spread over an area of 594kmsquare.
- Project areas comprise Minjingu in Northern Tanzania and Mkuju & Liwale in Southern Tanzania.
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13th Sep 07:18 PM AEST
Red Sky (ASX:ROG) gets government approval for its slickline operations
The ASX-listed Oil and Gas exploration company Red Sky Energy (ASX:ROG) shared that it has got its slickline operations at the Killanoola Oil Project approved by the Government of South Australian (SA) Department for Energy and Mining.
Key highlights:
- ROG shared that activity would begin immediately to facilitate the commencement of wireline perforation works.
- ROG has also mentioned Killanoola SE-1 well will be re-entered for the first time in over ten years.
- Red Sky has mentioned that it will proceed directly to perforate and test the new pay zones if the wellbore is clear. A rig will be brought in if the well is not clear, followed by perforation and testing.
Meanwhile, on the ASX, the ROG stock closed at AU$0.008 per share today.
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13th Sep 07:16 PM AEST
Lucapa (ASX:LOM) posts strong HY21 half year results
The ASX-listed metals and mining company Lucapa Diamond Company Limited (ASX:LOM) has delivered a solid interim financial report for the six months ended 30 June 2021 on Monday.
Key highlights of the report:
- LOM has reported an attributable cash operating margin (EBITDA) of US$10.3 million or AU$13.5 million on the back of record revenues.
- Lucapa has recorded guidance towards the upper-end of its estimated attributable cash operating margin for HY2021 of AU$17 million - AU$21 million.
- LOM’s rough diamond prices were reported to have increased more than 20% over the period to reach seven-year highs.
- The Company has reported a margin growth with the help of unique polishing partnerships.
- Lucapa has also mentioned record volumes, processing rates and large diamond recoveries from both African operations.
- Additionally, LOM has signed a binding agreement to acquire the Merlin Diamond Project in the Northern Territory of Australia, followed by successful capital raising.
Meanwhile, on the ASX, LOM stock closed, trading 3.921% higher at AU$0.053 per share today.
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13th Sep 07:15 PM AEST
Bryah Resources (ASX:BYH) close 14% strong. Here’s why
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The ASX-listed metals and mining company Bryah Resources Limited (ASX:BYH) announced the commencement of drilling on the Bryah Basin Manganese Joint Venture project, located approximately 150 km north of the town of Meekatharra in central Western Australia.
Key highlights:
- BYH has shared that a 2,000 metre RC drilling program is underway.
- The Company would be conducting drilling programmes to test new manganese targets identified by the GAIP survey.
- BYH has revealed that all its activities are fully funded by Joint Venture partner OM (Manganese) Limited.
Meanwhile, on the ASX, the BYH stock closed 14.583% up at AU$0.055 per share.
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13th Sep 07:14 PM AEST
Here’s why Kingwest Resources (ASX:KWR) closed 24% up today
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The ASX-listed mining and exploration company Kingwest Resources Limited (ASX:KWR) shared the result of its latest exploration activity on Monday. The results of its exploration activity at Lake Goongarrie have suggested the discovery of a significant gold deposit.
Key highlights of the result:
- Results include 3m @ 6.5 g/t Au and 3m @ 4.1 g/t Au.
- Kingwest’s Kanowna Belle litho-structural model supported mineralisation open in all directions.
- A total of 233 aircore drill holes were completed by KWR for 5638m on 18 lines.
- Only 25% of KWR’s assays have been received to date.
- Numerous additional litho-structural targets are yet to be tested by KWR.
Meanwhile, on the ASX, the KWR stock closed 24.657% higher at AU$0.091 per share.
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13th Sep 06:53 PM AEST
Salt Lake Potash (ASX:SO4) appoints Isak Buitendag as the new CEO
On Monday, ASX-listed Salt Lake Potash (ASX:SO4) announced the appointment of Isak Buitendag as the new CEO of the Company, effective from 15 November 2021.
Today’s announcement said:
- Isak Buitendag will join from his position as GM of Transformation at Kazzinc (69.7% owned by Glencore).
- Before this, Buitendag served as the Vice President of Operations and Vice President of Development at Kazchrome, which is the largest ferrochrome producer in the entire world.
- Buitendag has considerable experience and played the role Executive within the mining industry in Africa, Australia and Kazakhstan, including BHP and Fortescue.
Isak Buitendag’s term of employment will continue for a period of 12 months (Initial Term) unless terminated by Salt Lake or Buitendag.
The stock SO4 closed at AU$0.310 per share today.
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13th Sep 06:02 PM AEST
Talga (ASX:TLG) expands mine electrification agreement with ABB
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The ASX-listed technology materials development company Talga Group Ltd (ASX:TLG) shared that it has completed its Detailed Feasibility Study. TLG has also revealed that the study has extended and expanded the Memorandum of Understanding (MoU) with global technology leader ABB.
As per the MoU, ABB will also extend its industrial automation and electrification expertise to include next-level production and process control solutions for Talga’s initial operation.
Moreover, ABB will also work with Talga on front-end engineering and design (FEED) to develop commercial 100,000tpa graphite concentrator operations at Vittangi. Vittangi is a 19,500tpa anode production plant at Luleå.
The announcement stated that the commercial FEED stages will be completed within June 2022, intended to execute binding agreements with ABB for subsequent construction and operations.
Meanwhile, on the ASX, the TLG stock closed 13.571% higher at AU$1.590 per share.
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13th Sep 05:59 PM AEST
Iconic’s (ASX:IXR) Retention Licence approved at Makuutu, stock closes higher
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The ASX-listed exploration company Ionic Rare Earths Limited (ASX:IXR) announced that the Ugandan Directorate of Geological Survey and Mines (DGSM) had approved its 51% owned Ugandan subsidiary Rwenzori Rare Metals Limited (RRM) to convert Exploration Licence 1766 to Retention Licence 00234.
Key highlights:
- IXR has informed that the decision to move directly from EL to RL aligned with the strategy to accelerate the development of Makuutu.
- The phase 4 drill program by IXR would go near completion with all three rigs progressing infill drilling on area I as part of an overall target to increase Measured and Indicated Resources at Makuutu to more than 250 million tonnes.
- IonicRE is awaiting formal advice on the award of Exploration Licence application TN03573.
Meanwhile, on the ASX, the IXR stock closed 3.125% higher at AU$0.033 per share.
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13th Sep 05:58 PM AEST
Bastion (ASX:BMO) completes A$2.2 million fundraising, shares close string on ASX
The ASX-listed mining company Bastion Minerals Limited (ASX:BMO) announced that it had completed a placement to raise AU$2.2 million from crucial strategic investors to accelerate the Company’s current exploration activities and drilling programs, including the entire Capote Gold Project and the newly optioned ground of Bastion.
Key highlights:
- According to the announcement, the exploration and drilling program will begin at the high-grade Capote Gold Project and include Bastion’s newly optioned ground, which hosts the San Juan vein system.
- BMO has announced that drilling is set to begin as soon as possible with a planned 2,400m campaign targeting the outcropping vein systems within the Capote Gold Project.
- BMO’s high-net-worth investors to the placement, Levi Mochkin and Simon O’Loughlin are credentialed and highly regarded mining and corporate professionals.
Meanwhile, on the ASX, the BMO stock closed 12.500% higher at AU$0.270 per share.
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13th Sep 05:57 PM AEST
Accelerate Resources (ASX:AX8) receives firm commitments for AU$3.1 million
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The ASX-listed mining company, Accelerate Resources Limited (ASX:AX8), announced that it had received firm commitments to raise AU$3.1 million through a placement of shares to a range of sophisticated and professional investors, including participation by Accelerate Board of Directors.
The announcement has also stated that funds were raised from the capital raising, together with the Company’s existing cash reserves. The fund will be used for due exploration drilling and exploration activities on the Braeside West Project and Ripon Hills East Manganese Projects, exploration activities on the Comet Gold Project and working capital purposes.
Meanwhile, on the ASX, the AX8 stock closed 2.380% higher at AU$0.043 per share.
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13th Sep 05:47 PM AEST
Cadence (ASX:CDB) announces the listing of TMC in the NASDAQ; shares shrink
The ASX-listed fund management company, Cadence Capital Limited (ASX:CDM) announced that on 10 September 2021 TMC began trading on the NASDAQ. Under the DeepGreen and SOAC merger, CDM’s investment in DeepGreen Metals was exchanged for TMC shares and warrants. The newly merged entity will be called TMC The Metals Company Inc.
At present, TMC represents 18% of the Net Asset Value of the Company. On the other hand, TMC closed trading at US$ 9.41 per share on its first day, giving it an indicative market capitalisation of approximately US$2.2 billion or AU$3 billion.
According to the closing price of TMC, CDM’s estimated pre-tax NTA is AU$1.38 and its post-tax NTA is AU$1.40.
Meanwhile, on the ASX, the CDM stock closed 9.9% down at AU$1.180 per share.
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13th Sep 05:43 PM AEST
HomeCo Daily Needs (ASX:HDN) to raise funds for six acquisitions
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HMC Funds Management Limited, a significant unit of HomeCo Daily Needs REIT (ASX:HDN), has signed deals to acquire a 100% interest in a portfolio of 6 assets. The transaction cost for the deal stands at AU$222.0 million, representing a weighted average acquisition capitalisation rate of 5.78%.
The Acquisition Portfolio consists of:
- Woodlea Town Centre, VIC (AU$55.4 million, 5.25% cap rate)
- Pakenham Lifestyle Centre, VIC (AU$98.5 million, 6.00% cap rate)
- HomeCo LFR assets ? HomeCo Coffs Harbour, NSW (AU$22.4 million, 6.50% cap rate); HomeCo Lismore, NSW (AU$17.2 million, 7.00% cap rate); HomeCo LFR assets are being acquired at a 16.8% discount to Sep-21 draft independent valuation.
- Strategic adjoining property acquisitions feature - Armstrong Creek Dan Murphy’s and Quick Service Restaurants in Victoria and Upper Coomera Hungry Jacks in Queensland.
As per the announcement, the acquisitions will be partially funded through a AU$88.3 million fully underwritten placement.
The issue price of AU$1.61 per New Unit represents a 3.3% discount to the last close price of AU$1.6650 on 10 September 2021.
The stock HDN closed AU$1.665 per share today.
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13th Sep 04:38 PM AEST
ASX ends higher in choppy trade; Pilbara, Lynas, Sydney Airport lead
The Australian share market ended higher in volatile trade on Monday, led by strong rally in mining and energy stocks. The market gains were capped by selling in tech, realty and financial stocks. The weak global cues as well as concerns about impact of the impact of Delta variant of COVID-19 on economic growth also kept investors sidelined.
The benchmark index, ASX 200, ended higher by 18.60 points or 0.25% at 7,425.20. During the day’s trade, the index swung between gain and losses as rally in material and energy stocks was capped by sell-off in tech and A-REIT companies.
The market width, indicating the overall strength, was mixed, with six of 11 sectors ending in green zone. The A-REIT was the worst performer with 0.62% loss. It was followed by information technology sector with 0.61% loss, which fell in line with US counterpart, NASDAQ Composite. Among others, A-REIT, financial, utilities and consumer staples also ended lower.
Meanwhile, energy sector was the biggest gainer of the day with 1% gain, extending rally for the second day on rising crude prices. The materials sector also continued gaining streak for the second day even as iron ore prices softened over the weekend.
The top gainer on the ASX pack was lithium miner Pilbara Minerals (ASX: PLS) with a 6.8% gain. Some of the other notable gainers were mining company Lynas Rare Earths (ASX: LYC), gold miner Silver Lake Resources (ASX: SLR), Sydney Airport (ASX:SYD) and health care firm Polynovo (ASX:PNV).
On the flip side, Australian law firm Omni Bridgeway (ASX: OBL) emerged as top loser for the third session by falling 4.8%. The litigation firm was followed by online retailer Redbubble (ASX: RBL), gold miner Chalice Mining (ASX:CHN), shopping centres operator Unibail-Rodamco-Westfield (ASX:URW), and investment management firm Magellan Financial (ASX: MFG).
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13th Sep 04:24 PM AEST
Sayona (ASX:SYA) identifies potential NAL resource increase
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The ASX-listed mining company Sayona Mining Limited (ASX:SYA) shared that it has planned a further boost to its Abitibi lithium hub, with the potential for a significant resource expansion at North American Lithium (NAL) mine in Québec, Canada that Sayona recently acquired.
Key highlights:
- The announcement stated that audited diamond drilling completed in 2019 has shown a potential to fast?track newly expanded resource estimates and planning for resumption of operations.
- SYA has revealed that consultants BBA commissioned to conduct an updated NI 43?101 and JORC study for a resource estimate and subsequent feasibility study.
Meanwhile, on the ASX, the SYA stock closed 1.6% higher at AU$0.157 today.
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13th Sep 04:23 PM AEST
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13th Sep 03:08 PM AEST
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13th Sep 03:01 PM AEST
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13th Sep 02:45 PM AEST
12-15 years old can now book slots to get COVID-19 jab in Australia
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In what may be called an important milestone in the inoculation drive in Australia, starting today, all those in the age group 12 to 15 years old can book a slot for Pfizer shot at a GP or a Commonwealth vaccination clinic.
It is to be noted that the Pfizer vaccine is already available to those falling in the said age group who have comorbidities, are Aboriginal/live in remote communities or are on the National Disability Insurance Scheme.
On 27 August 2021, the Federal government had said that all children 12-18 years of age are likely to have access to a vaccine during the course of 2021. The age group between 12 and 15 consists of around 1.2 million children.
Like Pfizer, Moderna will also be provided to Australian citizens falling in the age group of 12 and 59 years. After facing the wrath of civil society over the slow rollout COVID vaccine, the Morisson government now insists that it now has adequate supply to provide all those over 12 years of age the first jab by the end of next month.
So far, 22,669,372 COVID-19 vaccine doses have been administered to Australians. Besides, 67.4% of people aged 16 and above have got their first dose. According to the government data updated yesterday, a total of 73,605 cases of COVID-19 have been reported in Australia.
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13th Sep 01:55 PM AEST
Copper prices hit more than one-month high on strong demand
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Copper prices surged to more than one-month high level on Monday on the back of strong demand and tight supplies of base metals creating an inflationary storm. December delivery copper futures on COMEX traded at SU$4.43 per pound, down 0.1% as of Monday at 10:56 AM AEST.
A significant surge in the prices of shipping and power costs is fueling the prices of base metals. Additionally, major copper smelters in China have lifted August refined cathode output in China by 2.7% relative to the previous month. Chinese trade data released earlier in the week showed that the imports of unwrought copper tumbled by 7% in August at 394,017 tonnes relative to July.
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13th Sep 01:54 PM AEST
Oil rises on supply concerns from the US
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Crude oil prices inched up on Monday during initial trading sessions after tumbling significantly in the last week amid China's plan to release state oil reserves. November delivery Brent Crude oil futures last traded at US$73.45 per barrel up 0.78%, whereas October delivery WTI crude oil futures traded 0.72% up at US$70.22 per barrel as of 13 September 2021 at 10:30 AM AEST.
Oil prices touched the mark of US$73 per barrel on Friday due to tight supplies as a result of Hurricane Ida. Nearly 1.4Mbpd supply from US Gulf Coast has been suffering since late August. Additionally, the news of a call between the US and China also boosted oil and equity market.
Crude oil prices edged up on Monday on the back of tight supplies from the US Gulf Coast. The prices were additionally boosted by the news of a call between U.S. President Joe Biden and China’s Xi Jinping.
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13th Sep 01:49 PM AEST
American Pacific Borates (ASX:ABR) to explore options for by-product Lithium
Mining exploration company, American Pacific Borates Limited (ASX:ABR), shared on Monday that it has considered exploring partner options for potential lithium production from its Fort Cady Integrated Boron Facility in Southern California.
The Company mentioned that although the boron specialties business unit remains the Company's primary operation, the improved lithium economics and emerging Direct Lithium Extraction (DLE) technologies have made the Company consider partner options for its potential by-product lithium stream.
The announcement has also stated that ABR has a vital opportunity to utilise lithium in boron specialty applications targeting LiBor salts for lithium-ion batteries.
Meanwhile, on the ASX, the ABR stock was spotted trading 12.323% higher at AU$1.595 per share at 1:40 PM AEST.
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13th Sep 01:26 PM AEST
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13th Sep 01:17 PM AEST
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13th Sep 12:36 PM AEST
ASX up 0.3% on miners, energy boost; Sydney Airport leads gain
The Australian share market edge higher in volatile trade by afternoon, as gains in material and energy stocks offset losses in tech and A-REIT companies. The equity market shrugged off weak cues from Wall Street, which ended moderately lower on Friday. As many as ten companies are trading ex-dividend today, including some big player such as HUB24, Chorus, Regis Resources, Healius.
The benchmark index, the ASX 200, was trading higher by 22 points or 0.30% at 7,428, by lunch. The Aussie market opened higher today, but soon slipped in red and declined as much as 0.2%. The market, however, recovered quickly on the back of strong gains in index heavyweights such as Sydney Airport, Aristocrat Leisure, and Pilbara Minerals.
On the sectoral front, six of the 11 indices were trading in red, while material and energy indices extended rally for the second straight session. The energy sector was the best performer with 1.6% gain, followed by materials, which rose 1.2%. Among others, consumer discretionary, industrials and utilities also witnessed buying activity.
Meanwhile, information technology was the worst performing sector with over 1% loss, tracking negative cues from its US counterpart, NASDAQ. The A-REIT, financial and telecom sector also remained under selling stress.
The top gainer on the ASX pack was Sydney Airport (ASX:SYD) after it received revised takeover offer from a consortium of infrastructure funds, led by IFM Investors. The stock price of airport operator traded higher by over 5% by mid-session.
Some of the other notable gainers were gaming solution provider Aristocrat Leisure (ASX:ALL) and miners Lynas Rare Earths (ASX: LYC), Pilbara Minerals (ASX: PLS) and OZ Minerals (ASX: OZL).
Meanwhile, Australia-based gold miner Chalice Mining (ASX:CHN) topped the losers’ chart by falling 6.3%. Some of the other worst performers were tech firm Appen (ASX: APX), law firm Omni Bridgeway (ASX: OBL), shopping centres operator Unibail-Rodamco-Westfield (ASX:URW) and telecom service provider Chorus Limited (ASX: CNU).
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13th Sep 12:36 PM AEST
Acrux’s (ASX:ACR) new drug to be reviewed by the US FDA
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The ASX-listed company from the healthcare sector Acrux Limited (ASX:ACR), announced that Acrux’s Abbreviated New Drug Application (ANDA) was accepted by the US Food and Drug Administration (FDA) for review of its generic version of Dapsone Gel, 5%.
Key highlights:
- Acrux has shared that it has submitted an ANDA application to the FDA for Dapsone Gel. About 5% of it, has now been accepted for review.
- ACR has revealed annual sales for the product are worth US$30 million as measured by IQVIA.
- The announcement has revealed that the product can be used to treat acne.
- Additionally, the announcement also marks Acrux’s fifth ANDA accepted for review by the FDA.
Meanwhile, on the ASX, the ACR stock was spotted trading at AU$0.130 per share at 11:30 AM AEST.
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13th Sep 12:02 PM AEST
Hazer (ASX:HZR) completes A$7million placement & announces A$7million SPP
The ASX-listed technology development company Hazer Group (ASX:HZR) announced that it has got firm commitments from investors to raise AU$7,000,000.32 through placements.
Hazer has also shared that it has invited eligible shareholders to participate in a share purchase plan to subscribe for additional ordinary shares in Hazer up to a total of AU$7 million.
Hazer’s placement will issue 7,608,696 new fully paid ordinary shares at an issue price of AU$0.92.
The Company has also mentioned that the net proceeds from the placement will support and expand our business development activities and take advantage of the high global interest in technologies such as the Hazer Process. In addition, it will enhance the quality of its ongoing research and development programs, particularly concerning applications for our graphite advanced carbon material and general working capital.
Meanwhile, on the ASX, the HZR stock was trading 11.163% lower at AU$0.960 per share at 11:10 AM AEST.
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13th Sep 11:31 AM AEST
Global Data Centre (ASX:GDC) proposes funding through equity raise
The ASX-listed investment and data centre asset company, Global Data Centre Group (ASX:GDC), announced that it had received commitments to raise approximately AU$19 million through an unconditional placement. As a result, the Company will be offering 9.8 million fully paid stapled units in the Group at a price of AU$1.93 each to investors.
GDC has shared that these funds will be used primarily to support its M&A and strategic investment initiatives pipeline.
Moreover, GDC has also shared that all existing eligible shareholders will be proposed to participate in the capital raise under a security purchase plan (SPP). The SPP will not be underwritten. The target is to raise to a maximum of AU$5.0 million through SPP.
Meanwhile, on the ASX, the GDC stock was trading a tad lower at AU$1.990 per share at 11:20 AM AEST.
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13th Sep 11:26 AM AEST
Minbos (ASX:MNB) samples to produce high-grade fertilizers
The ASX-listed mining company Minbos Resources Limited (ASX:MNB) announced that it had completed a 14-tonne bulk sample. The samples targetted Phosphate Rock material from the high-grade zone (+29% P205).
Key highlights:
- MNB has shared that bulk sample is now being sent to the International Fertilizer Development Centre (IFDC) headquarters in Muscle Shoals, Alabama, for blend and granulation optimisation, field, and greenhouse trials.
- The field and greenhouse trials are significant for the Company as they will provide the technology and research for sustainable, profitable, and ethical food production.
- MNB’s new high-grade samples are expected to maximise the agronomic effect of planned IFDC field and greenhouse trials.
- MNB has also shared that it is excited by the opportunity to develop its high-grade phosphate fertilizer with several proprietary blends and organic yield-maximising recipes currently being accessed.
Meanwhile, on the ASX, the MNB stock was trading at AU$0.135 per share at 11:20 AM AEST.
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13th Sep 11:15 AM AEST
Why are Sydney Airport (ASX:SYD) shares trading higher today
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The share price of the stock SYD, Sydney Airport (ASX:SYD), was 5.125% higher at AU$8.410 per share as the firm announced it has obtained a revised takeover bid from the Sydney Aviation Alliance (the Consortium). The Alliance offers an acquisition, by way of a scheme of 100% of the stapled securities in Sydney Airport at an indicative cost of AU$8.75 cash per stapled security.
The announcement revealed that the Further Revised Indicative Proposal follows an initial indicative proposal from the Consortium for AU$8.25 cash per stapled security as announced on 5 July 2021, and a revised indicative proposal for AU$8.45 cash per stapled security as announced on 16 August 2021. The Further Revised Indicative Proposal was issued after the Board determined that both the initial indicative proposal and a revised indicative proposal were not to be in the best interests of Sydney Airport securityholders.
Today’s announcement said that having taken suggestions and taking into consideration all the relevant factors, Sydney Airport has decided to grant the Consortium an opportunity to conduct due diligence on a non-exclusive basis. This will enable the Consortium to suggest a binding proposal, subject to admission into a Non-Disclosure Agreement on agreeable terms. Adding that the due diligence by the Consortium is slated to take four weeks from entry into the Non-Disclosure Agreement.
The terms and conditions of the Further Revised Indicative Proposal are otherwise consistent with the proposal from the Consortium announced by Sydney Airport on 16 August 2021.
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13th Sep 10:51 AM AEST
ASX 200 recovers from the opening losses; SYD, EVN lead gains
On Monday, the Australian share market has opened with a slight downtick. At the opening, the ASX 200 was trading 12.4 points or 0.17% down at 7,394.2. The ASX All Ordinaries index was down 0.2% to 7,691.
As of 10:30 AM AEST, the ASX 200 had pared all of its losses made during the opening session. Amid a decent reversal from the lows, the ASX 200 is now trading in green, gaining 5.5 points to 7,412.1, reclaiming the 7400-mark. The All Ordinaries Index also turned green, gaining 8.5 points or 0.11% from Friday’s closing, to 7715.4.
Cooper Energy Limited (ASX:COE) has entered into an agreement with AGL Energy. Under the agreement, COE will supply all developed and uncontracted volumes from Casino, Henry and Netherby fields in the Otway Basin. The pricing under the contract for the gas supply is in the range of AU$6-8/GJ.
Waypoint REIT Limited (ASX:WPR) is in talks with investors and looking to issue a new AU$ bond for seven years to pay a margin of 155 basis points over swap. Westpac and National Australia Bank will jointly lead the offer.
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13th Sep 10:47 AM AEST
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13th Sep 10:40 AM AEST
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13th Sep 10:33 AM AEST
Qantas (ASX:QAN) & Japan Airlines alliance not in public interest: ACCC
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The Australian Competition & Consumer Commission (ACCC) has denied authorisation for Qantas (ASX:QAN) and Japan Airlines to coordinate flights between Australia and Japan under the terms of a joint business agreement.
The ACCC learned that the deal is anticipated to result in decreased rivalry when the overseas travel resumes.
Prior to the pandemic, Qantas and Japan Airlines collectively flew about 85% of passengers travelling between Australia and Japan. Both the airlines were in close competition with each other on the biggest route, Sydney-Tokyo. Theirs was the only airlines flying between the second largest route, Melbourne-Tokyo.
The ACCC has determined that granting the authorisation would not only remove competition between Qantas and Japan Airlines, it would make it very difficult for other airlines to operate on routes between Australia and Japan.
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13th Sep 09:21 AM AEST
ASX 200 to fall after US stocks close lower
The Australian share market is set to fall on Monday after US stocks closed lower on Friday following release of inflation data. The Australian benchmark index ASX 200 is expected to open the day 28 points or 0.4% lower. On Friday, the index rose 0.5% to 7,406.6 points.
Shares of a few companies including Chorus Ltd, Healius Ltd, and HUB24 Ltd are going ex-dividend on Monday.
On Wall Street, the Dow Jones fell 0.8%, the S&P 500 dropped 0.8%, and the NASDAQ tumbled 0.9%. The latest economic data showed that US inflation rose marginally in August.
According to the US Labour Department, it was the highest 12-month jump since November 2010. Federal Reserve chief Jerome Powell had earlier said the current inflation is transitory due to a bottleneck in supply chains.
The 30-year Treasury bond yields was up 1.83% to 1.934, while the 10-year bond yields rose 3.29% to 1.343.
Meanwhile, US Dollar Futures Index increased by 0.19% to US$92.655.