BRIEFS
Alkane boost
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.
ELECTRONICS
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¢.
FLOODS
Citrus hit
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.
GOLD MINE
Alacer sale
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.
YANCOAL
CEO quits
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
Fly platinum
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.
ALICE SPRINGS
More flights
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.
Frequently Asked Questions about this Article…
Alkane Resources was granted a mining lease for its Tomingley Gold Project near Dubbo. The company expects first output later this year, and the news sent Alkane shares up almost 17% to 66¢.
Hills Holdings reported a loss of $73.6 million for the six months to December 31. That result included $81.8 million in impairment, restructure and closure costs, and the company's shares fell 13.5¢ to 96.5¢.
Citrus Australia said citrus production is likely to fall by up to 15% after the floods in Queensland. Growers west of Bundaberg suffered heavy losses, with trees deluged by floodwaters.
Alacer Gold sold its 49% stake in the Frog's Leg gold mine at Kalgoorlie to joint venture partner and operator La Mancha Resources for US$171 million. Alacer will return US$70 million to shareholders via a special dividend and use the remainder to pay down debt.
Murray Bailey, chief executive of ASX-listed Yancoal, will leave the company when his contract expires on July 6. The company has started a search for his replacement.
Emirates introduced a new 'platinum' tier to its Skywards loyalty scheme to better align the program with partner Qantas. The change was made as promised to competition regulators and gives passengers access to a platinum tier.
Following Tiger Airways' resumption of flights to Alice Springs, Jetstar announced it will operate four flights a week from Sydney to Alice Springs. The Jetstar services are due to start on June 4.
Investors can note a few clear takeaways from the article: Alkane's mining lease and expected output drove a strong share reaction; Hills' large impairment and restructuring led to a significant half-year loss and share decline; natural disasters such as the Queensland floods can materially reduce agricultural output (citrus down up to 15%); Alacer's asset sale funds a shareholder special dividend and debt reduction; and corporate changes (Yancoal CEO exit) or strategic moves (Emirates loyalty changes, Jetstar route additions) can affect company outlooks. These are factual developments reported by the companies and industry groups in the article.
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