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The Federal Government has prevented Chinese company Yuxiao Fund from raising its stake in Northern Minerals on grounds of national interest. Yuxiao Fund wanted to increase its holding from 9.92% to 19.9% but needed approval from the Foreign Investment Review Board. Northern Minerals has been focused on fine-tuning its heavy rare earths processing system through …
Morning News Bites – September 1
In Today’s Morning News Bites for September 1. WA motorists face toughest penalties in Australia if caught using mobile phones while driving. Telstra profits slide 15% for FY20, sighting disruption from the pandemic and bush fire crisis. Lefroy report results from Hang Glider Hill and Lucky Strike Gold exploration hubs 50km South-East of Kalgoorlie. Lefroy …
Morning News Bites – August 31
In Today’s Morning News Bites for August 31. PM Support has slipped as states get behind their Premiers. The latest newspoll shows a 50-50 two party preferred, from August 5-8’s 52-48 TPP. Cadia Mine in NSW takes number one spot for 2019/20 production 843,338oz and IOOF set to grab NAB`s MLC. The FY20 results are out for Swick, with …
Morning News Bites – August 26
In Today’s Morning News Bites for August 26. Kalgoorlie-Boulder wakes to a 3.1 magnitude earthquake at around 3:15am local time this morning. Seven Group Holdings report Westrac’s FY20 revenue up 15 per cent. PM raises concerns about Victoria’s state of emergency extension with Daniel Andrews. Conglomerate Seven Group Holdings has reported a 12 per cent rise …
Morning News Bites – August 25
In Today’s Morning News Bites for August 25. Resolute confirms supply lines to the Syama Gold Mine continue, despite political tension in the south of Mali. Largest diamond unearthed this year discovered in Africa. Victoria report another 9 COVID-19 related deaths. SRG Global provided results for FY20, with revenue at AU$545 million. The impact of the …
Morning News Bites – August 24
In Today’s Morning News Bites for August 24. Fortescue Metals report 49% increase in net profit to a record $US4.7bn. QLD reports one new COVID-19 case overnight. Liberal call for branch clean-out. Fortescue Metals report strong results from FY20, exceeding production guidance with 178.2 million shipments of iron ore for the full year. Costs remain low: C1 …
Morning News Bites – August 20
In Today’s Morning News Bites for August 20. Qantas profits fall 91% as 6000 jobs are axed. Wesfarmers slashes the value of Target by $525 million. Pantoro reports Scotia Mining Centre has been expanded once again due to new zone discovery. The Scotia Mining Centre has once again been expanded with the discovery a new zone …
Morning News Bites – August 19
In the Morning News Bites – August 19 ANZ posts cash profits of $1.49 billion with around 84,000 home loan deferrals and around 22,000 business loans deferred. Dominoes Pizza has increazsed its sales in Australia and New Zealand by 4% to $1.2 billion. While The Reject Shop posts a net profit after tax of $1.1 million …
Morning News Bites – August 18
In Today’s Morning News Bites for August 18. KCGM release their reserves, resources and guidance update for FY21. KCGM have set an FY21 guidance of 440,000 – 480,000oz at AISC of A$1,470 – 1,570/oz3, growth capital budget at A$198m (A$12m on exploration), and an expectation of production to rise to +675,000ozpa. Further growth is supported by a large …
Morning News Bites – August 14
Morning News Bites as earnings season continues. Clive Palmer is set to head to the high court with his battle against the Western Australian government. NAB cash earnings for the third quarter drop 7% and Woolworths appoints a Chief Medical Officer. Middle Island Resources has announced it’s Two Mile Hill open pit Mineral Resources is …
