A market spice for Aurizon Rail Group’s (ASX:AZJ) 2023-24 monetary report and outlook for the year ahead. Shares fell more than 8% in Monday’s session, despite a result that showed the company benefited from the lack of primary La Niña rains.
Shipments, earnings and earnings from Aurizon’s major coal transport operations in New South Wales and central Queensland increased for the year to the end of June. The company, like the coal industry, has had to deal with record rainfall, widespread flooding, railroad tracks. problems, port problems, the lingering effect of COVID-19, as well as the now-lifted bans on Australian coal from China.
China is now a beloved customer for many coal exporters, although it is buying thermal coal at record levels lately, due to a severe heat wave in eastern parts of the country. Coal costs have fallen for its consumers, but remain high enough. to allow coal to continue flowing on the rail networks of both states.
Improved weather and rail movement resulted in higher revenues, profits, dividends and a $150 million inventory buyback. Chief Executive Officer Andrew Harding said in the earnings release that “Aurizon delivered a strong result in the 2024 monetary year, with falsified earnings expansion and strong flexible cash flow. “”This provided an opportunity to increase the percentage return for shareholders, with overall dividends for fiscal 2024 expanding 13% through fiscal 2023. We are also pleased to announce a percentage buyback that could reach $150 million.
Revenue increased 9% to $3. 844 billion, profit increased 11% on a net after-tax basis to $406 million and 20% on an EBIT basis, and the overall dividend for the year increased 13% to 17 cents consistent with the percentage after a final close, 7. 3 cents per percent, below the final period of 2022-2023 and the interim period of 9. 7 cents per percentage.
Aurizon said its coal EBITDA (basically in NSW) was $528 million, up 16% from 2022-23, primarily due to higher volumes and generating higher revenues (customer/broker mix and indexing). . Carried volumes of 189. 0 million tons were 2% higher than fiscal 2023.
Total EBITDA of $229 million, an increase of 7% compared to 2022-2023. Transported volumes of 66. 6 million tonnes decreased by 2% compared to the previous corresponding period. This is basically due to visitor production issues, basically in Queensland, lower grain volumes and the Termination of a railway maintenance contract.
Network EBITDA of $930 million, up 14% from 2022-23. This is due to an accumulation of qualified revenue streams due to the initial reinstatement of the WACC (weighted average capital charge) and a higher asset base. The tonnes transported on the Central Queensland coal network were 209. 6 million, 1% more than in the 2023 financial year.
The company reported full-year 2023-2024 EBITDA of $1. 624 billion, up 14%, with management expecting a slight increase to a range of $1. 660 billion to $1. 740 billion.
But stocks did not definitely react to the monetary report or the outlook, which turns out to be a bit rosy.
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Increases across the board of Deep Leads’ resources: quality, tonnage and target area ABx Group has reported a 30% increase in its mineral resource estimate (MRE) at Deep Leads’ rare ion adsorption clay (IAC) earth deposit in northern Tasmania. The accumulation in MRE comes from 36 tested outlets, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding in the 10-day area. Ford Company (Ford) signed a memorandum of understanding for around 25,000 t/year and last week, Hanwa, a Japanese commodity trader, signed a memorandum of understanding for up to 25,000 t/yr. Subject to execution, this is a feat as Ford and Hanwa are poised to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing, but should, if Ford and Hanwa inject new capital into LKE, further reduce the risk of project financing and thus ensure that LKE and Kachi are fully funded.
Two recent gravity studies have particularly exceeded expectations and revealed prospects for extension of the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade SOP Tier 1 production center around Lake Throssell.
Lately, TMG is completing paints in preparation for the PFS planned for early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and authorization activities. The effects of these systems will affect the PFS and any long-term resource improvements.
SOP benchmarks have increased to approximately $940/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% increased value effects resulted in a +$144 million increase in task NPV of 364 million dollars. The approximately 70% increase compared to the scoping study implies an NPV of the allocation of approximately $1. 4 billion.
Despite the fall in oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to show an improvement in its main indicators.
WT Financial Group Limited (WTL) is a fast-growing diversified monetary company, founded in 2010 and indexed to the Australia Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors acting as legal advisors. Representatives. WTL in connection with its broker organization activities Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). He has approximately 275 advisers at over two hundred money advisory firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a full study report on ASX-listed biotech Immutep Ltd (ASX: IMM). It was so inspired by IMM that Corporate Connect found it imperative to publish a follow-up report valuing the company, as the market did not see the great prospects of eftilagimod alfa (efti).
This follow-up report was released today. Using comparables, after adding a reduction of money to its EV estimate and dividing by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at AU$2. 20.