CEL
CGM
LCY weekly
LCY
BHP, Grange, Navitas, Legacy, Santos: Australian Stocks Preview
The following is a list of companies whose shares may have unusual moves in Australia. The preview includes news announced after markets closed. All prices are from yesterday’s close unless otherwise stated.
The S&P/ASX 200 Index futures contract due in September slipped 1.7 percent to 4,319 as of 6:59 a.m. in Sydney. The Bank of New YorkAustralia ADR Index dropped 3.7 percent. The S&P/ASX 200 Index declined 1.4 percent to 4,433.60.
Mining companies: Copper futures for September delivery declined 0.7 percent on the Comex in New York yesterday.
BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, fell 1.7 percent to A$41.57. Its American depositary receipts lost 3.5 percent in New York trading.
Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, slid 1.8 percent to A$80.05 in Sydney.
Oil stocks: Crude for September delivery fell 1.2 percent on the New York Mercantile Exchangeyesterday.
Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, dropped 1.7 percent to A$38.24. Santos Ltd. (STO) , Australia’s third-largest oil and gas producer, declined 1.8 percent to A$12.90.
Gold producers: Gold futures for December delivery climbed 1.4 percent on the Comex in New York yesterday.
Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, added 1.1 percent to A$40.03.
Grange Resources Ltd. (GRR) : The gold and iron-ore explorer may take on another joint venture partner to help fund its Southdown magnetite project, Chief Executive Officer Russell Clark said at a conference in Kalgoorlie, Western Australia. Grange’s shares were unchanged at 53.5 Australian cents.
Legacy Iron Ore Ltd. (LCY) : NMDC Ltd., an Indian iron- ore producer, expects to acquire a 50 percent stake in Australia’s Legacy Iron Ore, the chairman of the Indian state- run company said in New Delhi. Legacy Iron’s shares sank 3.5 percent to 14 Australian cents.
Navitas Ltd. (NVT) : The educational services provider was cut to “hold” from “buy” by analysts at Citigroup Inc., which said the company faces “too many headwinds” to be able to outperform in the “near term.” Navitas shares fell 2.6 percent to A$3.75.
News Corp. (NWSA) : London police arrested former News of the World managing editor Stuart Kuttner as part of the probe into phone hacking and bribery at News Corp. (NWS)’s now-defunct Sunday tabloid, two people familiar with the case said. News Corp.’s shares slipped 0.2 percent to A$15.04.
NEW DELHI, 2 AUG: Country's top iron ore miner NMDC today said it would clinch deals for two overseas mining assets within 100 days as talks are progressing fast.
The state-run giant, which has earmarked $500 million (about Rs 2,400 crore) for overseas acquisitions this fiscal, is targeting four assets, including two coal and two iron ore, in Australia, the USA, Russia and some countries in Africa.
“We are confident to acquire two mining properties overseas within next 100 days. We are looking at four-five assets in the USA, Russia, Australia and Mozambique,” NMDC chairman Mr Rana Som told reporters here today.
Sources said that the navratna firm, which has inked a memorandum of understanding to acquire up to 50 per cent stake in Australian mineral exploration company Legacy Iron Ore, is likely to finalise a sales purchase agreement by September.
Legacy has interests in gold and manganese besides iron ore, and the MoU gives access to NMDC to get into Australia. The pact, after formal completion, will give Legacy the opportunity to source and secure additional resource projects for development and financing with the backing of NMDC as the company's biggest shareholder.
NMDC intends to use Legacy as a vehicle to acquire large-scale Australian bulk commodity projects such as coal and iron ore.
While NMDC produces about 30 million tons of iron ore, Legacy holds highly prospective iron ore tenements in both the central Yilgarn and Pilbara areas of western Australia.
Besides the assets in Australia, the state-run firm is eyeing a coking coal mine in Mozambique.
The mining giant is eyeing acquisitions to expand its capacity and to ensure raw material security for its upcoming steel mills in Chandigarh and Karnataka.
NMDC has already forayed into steel making and is setting up a 3-million-ton steel plant in Chhattisgarh. It plans to build the Rs 15,500-crore mill by 2014 for which it requires raw material security.
Besides, it has a joint venture with Russia's Severstal to set up an initial two-million-ton-per-annum (MTPA) steel plant in Karnataka at a likely investment of Rs 25,000 crore, which can further be expanded to 5 MTPA. It aims to almost double the production to 50 MT by 2015 from 30 MT.
Meanwhile, the company said that it was likely to see a production of about 29 million tons this fiscal as against the earlier target of 31 million tons on account of delays in green nods and threats from extremists at its production sites. Its output last fiscal stood at 25 million tons.
NMDC chairman Mr Som said the company's exports this fiscal would also decline to about 1.4 MT from 2.56 MT last year due to a slowing demand in Japan and delays in formal note for exports.
NMDC to buy 2 overseas assets within 100 days
2 August 2011
press trust of indiaNEW DELHI, 2 AUG: Country's top iron ore miner NMDC today said it would clinch deals for two overseas mining assets within 100 days as talks are progressing fast.
The state-run giant, which has earmarked $500 million (about Rs 2,400 crore) for overseas acquisitions this fiscal, is targeting four assets, including two coal and two iron ore, in Australia, the USA, Russia and some countries in Africa.
“We are confident to acquire two mining properties overseas within next 100 days. We are looking at four-five assets in the USA, Russia, Australia and Mozambique,” NMDC chairman Mr Rana Som told reporters here today.
Sources said that the navratna firm, which has inked a memorandum of understanding to acquire up to 50 per cent stake in Australian mineral exploration company Legacy Iron Ore, is likely to finalise a sales purchase agreement by September.
Legacy has interests in gold and manganese besides iron ore, and the MoU gives access to NMDC to get into Australia. The pact, after formal completion, will give Legacy the opportunity to source and secure additional resource projects for development and financing with the backing of NMDC as the company's biggest shareholder.
NMDC intends to use Legacy as a vehicle to acquire large-scale Australian bulk commodity projects such as coal and iron ore.
While NMDC produces about 30 million tons of iron ore, Legacy holds highly prospective iron ore tenements in both the central Yilgarn and Pilbara areas of western Australia.
Besides the assets in Australia, the state-run firm is eyeing a coking coal mine in Mozambique.
The mining giant is eyeing acquisitions to expand its capacity and to ensure raw material security for its upcoming steel mills in Chandigarh and Karnataka.
NMDC has already forayed into steel making and is setting up a 3-million-ton steel plant in Chhattisgarh. It plans to build the Rs 15,500-crore mill by 2014 for which it requires raw material security.
Besides, it has a joint venture with Russia's Severstal to set up an initial two-million-ton-per-annum (MTPA) steel plant in Karnataka at a likely investment of Rs 25,000 crore, which can further be expanded to 5 MTPA. It aims to almost double the production to 50 MT by 2015 from 30 MT.
Meanwhile, the company said that it was likely to see a production of about 29 million tons this fiscal as against the earlier target of 31 million tons on account of delays in green nods and threats from extremists at its production sites. Its output last fiscal stood at 25 million tons.
NMDC chairman Mr Som said the company's exports this fiscal would also decline to about 1.4 MT from 2.56 MT last year due to a slowing demand in Japan and delays in formal note for exports.
MHM
XCD
Capital structure
XCD: 65,500,435
Cash at 30/6/2011: $10,601,000
Cash/share: $0.162
No comments:
Post a Comment