Angel Seafood Holdings Ltd (AS1):
ASX junior Angel Seafood Holdings is buying half a hectare of "prime water" for $300,000 in Coffin Bay. This is the company that listed in February at 20¢ a share only to be felled by an outbreak of Pacific Oyster Mortality Syndrome (POMS) detected in the Port River, Adelaide in March. At the time, Angel found no evidence of POMS and reaffirmed this in a subsequent update to the market. The newly acquired lease water adjoins Angel's current water holdings in the Beacon Zone in Coffin Bay, "Given the quality of the water, and Angel's experience in the zone, it is anticipated that the acquisition will increase overall oyster finishing production capacity for the company by 15-20 per cent," Angel said on Tuesday. Meanwhile, Clean Seas Seafood was awarded a $2.5 million federal grant upon its plan to return to farming at Fitzgerald Bay, in the upper Spencer Gulf region of South Australia.
Blue Sky Alternative Investments Ltd (BLA):
international contributions to Vinomofo’s bottom line are not material, despite Blue Sky managing director Rob Shand last week telling The Australian not to rely on Vinomofo’s Australian accounts because they did not include the company’s ¬offshore arms. Vinomofo was one of the investments attacked by US-based short-sellers Glaucus Research in a scathing report released more than a week ago that halved Blue Sky’s share price.Blue Sky director Nick Dignam, who is also on the Vinomofo board, told The Australian that of the $25m tipped into the wine company, “$10m was for expansion capital and $15m for secondary purchasers from existing shareholders”. The shareholders who sold down their stakes were private investors, not affiliated with Blue Sky, he said. “All of them sold some but retained some,” he said. In its report, Glaucus said ¬Vinomofo was “meant to be a rapidly growing flagship investment for Blue Sky”.“Instead, Vinomofo’s latest annual report reveals a floundering business.”
Commonwealth Bank of Australia (CBA):
New Commonwealth Bank chief executive Matt Comyn has begun his stint leading the banking giant by apologising to staff for CBA's "unacceptable" failures in recent years, vowing that "things will change" under his watch. Mr Comyn, who takes over from Ian Narev as CBA chief on Monday, said in an email that a key priority would be to "put things right" with customers who had been let down by the bank over recent years. CBA has been the most scandal-prone of the country's major banks in recent years. Last year it faced explosive allegations it breached anti-money laundering and terrorism financing laws, following previous revelations of misconduct in its financial advice business, and problems in its life insurance arm. “We have made mistakes. We have not done enough to protect our customers. That starts with me and our senior executives," Mr Comyn wrote in a message to the bank's 51,000 staff.
Godfreys Group Ltd (GFY):
Vacuum retailer Godfreys is being targeted for a takeover bid by its 99-year-old major shareholder, John Johnston. The board of ailing retailer Godfreys wants to get an independent valuation of the company and has urged shareholders to take no action on the takeover bid. A successful bid by Mr Johnston's Arcade Finance vehicle would mark an extraordinary second "Alan Bond" moment, although victory this time around is likely to be bittersweet given the destruction of value at Godfreys since 2014.
National Australia Bank Ltd (NAB):
NAB has sacked more than 20 bankers from its central credit risk department as part of the bank's first wave of a planned 6,000 job cuts. Sources contacting The Australian Financial Review say that the cuts have come off the back of the banking Royal Commission although the bank denied this was the case, saying that the job cuts were part of the company's move towards automation." Any suggestion that the changes in credit risk, including any loss of jobs, are linked to our introducer program case study covered by the royal commission are false," a NAB spokesman said.
Oklo Resources Ltd (OKU):
Gold explorer Oklo Resources was in the market on Tuesday, seeking to raise $15 via an institutional placement. Broker Canaccord Genuity has called for bids to be submitted by Wednesday at 5pm, with the offer price pegged at 38¢ a share. That represents an 8.4 per cent discount to the last close and a 5.7 per cent discount to the five-day volume weighted average price. Oklo is an ASX-listed gold exploration company focused on the exploration and development of eight gold projects located in Mali, west Africa. Funds raised from the placement will be used for continued drilling programs at the Seko prospect within the company's Dandoko project. Surging iron ore prices have boosted the amount of tax Rio Tinto paid to Australian governments, but the mining giant remains in talks with the Australian Taxation Office over its Singapore marketing hub.
Rio Tinto Limited (RIO):
Rio’s 2017 taxes paid report shows it paid $4.9 billion in taxes and royalties in Australia, well ahead of the $3.9 billion it paid in 2016. The federal government was the biggest recipient with $2.4 billion, while Western Australia, which hosts Rio's Pilbara iron ore mines, received $1.8 billion. Australia, which is home to about half Rio's global assets, has now received about $53 billion in taxes and royalties since 2010. Rio said it made further investments in its Singapore commercial centre, which provides, marketing, logistics and financial services to the group. Rio paid just $31 million in taxes in the city state under its arrangement there.
South32 Ltd (S32):
South32 plans to use solar energy to power key infrastructure at its Cannington lead-silver operation in Queensland. The miner has launched a remote off-grid renewable energy project to help it reduce greenhouse gas emissions at the site. A six-hectare, 3MW solar farm will be developed to generate electricity for the mine’s accommodation village and airport, with surplus power to support the mining and processing operations. Once developed, it will be the second largest solar installation at a remote, off-grid mining operation in Australia and the first to be integrated into a gasfired power station.
(Source: AIMS)
ASX junior Angel Seafood Holdings is buying half a hectare of "prime water" for $300,000 in Coffin Bay. This is the company that listed in February at 20¢ a share only to be felled by an outbreak of Pacific Oyster Mortality Syndrome (POMS) detected in the Port River, Adelaide in March. At the time, Angel found no evidence of POMS and reaffirmed this in a subsequent update to the market. The newly acquired lease water adjoins Angel's current water holdings in the Beacon Zone in Coffin Bay, "Given the quality of the water, and Angel's experience in the zone, it is anticipated that the acquisition will increase overall oyster finishing production capacity for the company by 15-20 per cent," Angel said on Tuesday. Meanwhile, Clean Seas Seafood was awarded a $2.5 million federal grant upon its plan to return to farming at Fitzgerald Bay, in the upper Spencer Gulf region of South Australia.
Blue Sky Alternative Investments Ltd (BLA):
international contributions to Vinomofo’s bottom line are not material, despite Blue Sky managing director Rob Shand last week telling The Australian not to rely on Vinomofo’s Australian accounts because they did not include the company’s ¬offshore arms. Vinomofo was one of the investments attacked by US-based short-sellers Glaucus Research in a scathing report released more than a week ago that halved Blue Sky’s share price.Blue Sky director Nick Dignam, who is also on the Vinomofo board, told The Australian that of the $25m tipped into the wine company, “$10m was for expansion capital and $15m for secondary purchasers from existing shareholders”. The shareholders who sold down their stakes were private investors, not affiliated with Blue Sky, he said. “All of them sold some but retained some,” he said. In its report, Glaucus said ¬Vinomofo was “meant to be a rapidly growing flagship investment for Blue Sky”.“Instead, Vinomofo’s latest annual report reveals a floundering business.”
Commonwealth Bank of Australia (CBA):
New Commonwealth Bank chief executive Matt Comyn has begun his stint leading the banking giant by apologising to staff for CBA's "unacceptable" failures in recent years, vowing that "things will change" under his watch. Mr Comyn, who takes over from Ian Narev as CBA chief on Monday, said in an email that a key priority would be to "put things right" with customers who had been let down by the bank over recent years. CBA has been the most scandal-prone of the country's major banks in recent years. Last year it faced explosive allegations it breached anti-money laundering and terrorism financing laws, following previous revelations of misconduct in its financial advice business, and problems in its life insurance arm. “We have made mistakes. We have not done enough to protect our customers. That starts with me and our senior executives," Mr Comyn wrote in a message to the bank's 51,000 staff.
Godfreys Group Ltd (GFY):
Vacuum retailer Godfreys is being targeted for a takeover bid by its 99-year-old major shareholder, John Johnston. The board of ailing retailer Godfreys wants to get an independent valuation of the company and has urged shareholders to take no action on the takeover bid. A successful bid by Mr Johnston's Arcade Finance vehicle would mark an extraordinary second "Alan Bond" moment, although victory this time around is likely to be bittersweet given the destruction of value at Godfreys since 2014.
National Australia Bank Ltd (NAB):
NAB has sacked more than 20 bankers from its central credit risk department as part of the bank's first wave of a planned 6,000 job cuts. Sources contacting The Australian Financial Review say that the cuts have come off the back of the banking Royal Commission although the bank denied this was the case, saying that the job cuts were part of the company's move towards automation." Any suggestion that the changes in credit risk, including any loss of jobs, are linked to our introducer program case study covered by the royal commission are false," a NAB spokesman said.
Oklo Resources Ltd (OKU):
Gold explorer Oklo Resources was in the market on Tuesday, seeking to raise $15 via an institutional placement. Broker Canaccord Genuity has called for bids to be submitted by Wednesday at 5pm, with the offer price pegged at 38¢ a share. That represents an 8.4 per cent discount to the last close and a 5.7 per cent discount to the five-day volume weighted average price. Oklo is an ASX-listed gold exploration company focused on the exploration and development of eight gold projects located in Mali, west Africa. Funds raised from the placement will be used for continued drilling programs at the Seko prospect within the company's Dandoko project. Surging iron ore prices have boosted the amount of tax Rio Tinto paid to Australian governments, but the mining giant remains in talks with the Australian Taxation Office over its Singapore marketing hub.
Rio Tinto Limited (RIO):
Rio’s 2017 taxes paid report shows it paid $4.9 billion in taxes and royalties in Australia, well ahead of the $3.9 billion it paid in 2016. The federal government was the biggest recipient with $2.4 billion, while Western Australia, which hosts Rio's Pilbara iron ore mines, received $1.8 billion. Australia, which is home to about half Rio's global assets, has now received about $53 billion in taxes and royalties since 2010. Rio said it made further investments in its Singapore commercial centre, which provides, marketing, logistics and financial services to the group. Rio paid just $31 million in taxes in the city state under its arrangement there.
South32 Ltd (S32):
South32 plans to use solar energy to power key infrastructure at its Cannington lead-silver operation in Queensland. The miner has launched a remote off-grid renewable energy project to help it reduce greenhouse gas emissions at the site. A six-hectare, 3MW solar farm will be developed to generate electricity for the mine’s accommodation village and airport, with surplus power to support the mining and processing operations. Once developed, it will be the second largest solar installation at a remote, off-grid mining operation in Australia and the first to be integrated into a gasfired power station.
(Source: AIMS)
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