Shares in Alkane Resources shot up almost 17 per cent to 66¢ after the minerals explorer announced it had been granted a mining lease for its Tomingley Gold Project near Dubbo. The company expects the first output later this year.
Hills books loss
Electronics and building materials supplier Hills Holdings said conditions remained challenging as it booked a loss of $73.6 million for the six months to December 31. The result included $81.8 million in impairment, restructure and closure costs. The shares fell 13.5¢ to 96.5¢.
Citrus production is likely to fall up to 15 per cent after the floods in Queensland, says Citrus Australia. Growers west of Bundaberg suffered heavy losses, with trees deluged.
Alacer Gold has pocketed $US171 million from the sale of its 49 per cent stake in the Frog's Leg gold mine at Kalgoorlie to Canadian joint venture partner and mine operator La Mancha Resources. Alacer will pay $US70 million to shareholders via a special dividend, and pay down debt.
Murray Bailey, the chief executive of China-backed, ASX-listed miner Yancoal, will leave the company when his contract expires on July 6. A search for his replacement is underway.
Emirates has introduced a new tier to its Skywards loyalty scheme to align it with partner Qantas. As promised to competition regulators, passengers will have access to a "platinum" tier.
Following Tiger Airways' resumption of flights to Alice Springs, Jetstar has announced four flights a week from Sydney to the red centre. The Jetstar flights will start on June 4.