Australian stocks closed almost flat today with the ASX200 up just 1.5 points to 5,625.9. The Shanghai Stock Exchange Composite Index is up .075% while in pre-open markets the Dow Mini is up 15 points to 17,092.
With a construction forward order book of $167 million and a further $110 million of new work currently tendering or being negotiated, Diploma Group has a pipeline for continued revenue growth. This could build on its revenue of $195.3 million in FY2014, up 20% from the previous year.
The Pivotal Clinical Trial for its OncoSil™ localised radiation therapy for the treatment of pancreatic cancer will be supported by OncoSil Medical’s cash and deposits of $7 million at financial year end. The trial has already received Ethics Approval for its Australian sites and validated its manufacturing process.
Mount Monger Operations near Kalgoorlie generated positive cashflow of $61 million on the back of full year gold sales of 172,838 ounces. Silver Lake Resources had $34.0 million of cash & bullion, no bank debt and investments in ASX-listed entities of $9.8 million at June 30, 2014 year end.
The 300.2% increase in net profit to $16.8 million and a 26.7% increase in revenue to $23.2 million marks an extremely positive reporting end to the 2014 financial year for Carnarvon Petroleum. In turn, the major oil discovery at Phoenix South-1 in the North West Shelf highlights the strong future ahead.
New rock chip channel sampling along road cuttings has identified high grade visible gold of up to 1 metre at 28.9g/t at White Cliff Minerals’ Aucu discovery in the Kyrgyz Republic. Reverse circulation drilling has started to test the highly prospective Copper-Gold Zone.
Despite mining depletion, Silver Lake Resources has increased Resources at its producing Mount Monger Operations near Kalgoorlie, Western Australia, to 3.7 million ounces from 3.6Moz due to increases at Daisy Complex and Cock-eyed Bob.
Proceeds from the $10 million capital raising will be used primarily by Sun Resources to drill, fracture stimulate and test the Jack Howe-1H lateral well at its Normangee Oil Project in Texas. Success will look to unlock the upside present in the 7,000 net acres in its Southern Woodbine area.
Tiger will become the ASX's largest listed copper cathode producer and fourth biggest attributable copper producer with the acquisition of the remaining 40% interest in the Kipoi Copper Project in the DRC. The acquisition is transformative and increases attributable earnings in FY14.
With the new $13.835 million facility from Commonwealth Bank, its $42.05 million share placement and existing cash, Yellow Brick Road is fully funded for the acquisitions of Vow Financial Holdings and Resi Mortgage Corporation.
Progressing its strategy of becoming an Australian gold producer by acquiring the advanced Leonora Gold Project in Western Australia will give Kin Mining managing director Trevor Dixon much to discuss at the "Sydney Investor Luncheon" on September 10. Register today.
Resource drilling at A-Cap Resources’ Letlhakane Uranium Deposit in Botswana has confirmed the presence and continuity of higher grade uranium mineralisation within the shallow areas proposed for early mining. It also provides valuable information required for the pit optimisation study.