ECT have, ‘concluded that NMDC will not be continuing and having formally withdrawn the offer to extend the MOU, ECT and NLCIL are now able to explore partnerships with other interested parties.’
Today, Evolution Mining announced its preliminary 2019 financial year operating results, as well as next year’s guidance.Gold production between the June 2019 quarter, sat around 194,886 ounces, with an All-in Sustaining Cost (ASIC) of $915 per ounce.Additionally, the company says cash generation of $109.4 million has thrust Evolution to a net cash position of $35.2 million as of 30 June.
Pilbara shares lifted 5% yesterday after the company announced that it had inked a deal with Chinese automaker Great Wall for early delivery of 20,000 tonnes of product a year over six years starting from next month. The miner also advised that shipped tonnes for the June quarter had come in at 43,214 tonnes, representing the higher end of previously revised guidance range of 23,000–45,000 tonnes.
The Phoslock Environmental Technologies Ltd [ASX:PET] share price spiked hard at the end of May after the company announced an initial order of approximately $1 million worth of Phoslock products to treat a heavily polluted lake in South West China.
Greenland Minerals’ Kvanefjeld project is the largest code-compliant rare earth resource in the world. The projects capital cost estimate was slashed by 40% from US$832 million in April 2016 to US$505 million.
The manufacturing licence is really a breakthrough for THC Global, positioning it in one of the biggest growth industries on the market.For investors interested in cannabis, this is exciting news. It is also potentially exciting news for THC’s share price outlook — more production, means more product and hopefully more revenue.
BHP’s fall could be partly due to a statement made by a Chinese official Friday afternoon, confirming plans of cracking down on the excessive costs of the steel-making ingredient.Given the fact that China is the world’s biggest steel producer, it was inevitable that there would be ripple effects from the inquiry, hitting not only BHP but also Rio Tinto, whose share price fell 0.50%. Both Aussie companies produce a lot of iron for the world market and China is one country with high demand for it.
According to the announcement, a substantial holder by the name of FMR LLC, otherwise known as Fidelity Investments — a privately owned investment manager based in Boston — sold a grand total of 3,005,279 HUB shares, ceasing their holdings in the company.This has presumably caused a degree of panic amongst existing shareholders, seeing as FMR had a pretty sizable influence on the company.
According to the Australian Financial Review (AFR), a top official on behalf of China’s steel industry said Beijing was getting ready to crackdown on soaring prices.Iron ore market has also been hit by supply disruptions, as weather plagues supply chains. Last month Rio Tinto cut production outlook after issues with its mine, adding further to supply shortages.
Following the release of its first half-year results, ECX set its sights on refocusing its core fleet leasing and novated business to a more stripped back outline by its simplification program.