Posts Tagged ‘Straits Resources’

Share Purchase Plan: Straits Resources

Tuesday, February 14th, 2012

Straits Resources (SRQ) announced on the 13/2/2012 that they would be conducting a Share Purchase Plan to raise additional capital. The record date was the 10/2/2012 on which shareholders must own the share to participate in the SPP. The closing date is 16/3/2012. Shares will be issued on 26/3/2012 and begin trading  on 27/3/2012.   A maximum of $15,000 can be purchased by each shareholder at $0.60.

Discount :  2.4% Liquidity : Ok Profitability : Ok  Stability : Poor

www.straits.com.au

*Note: Discount is based on the closing price on the 13 February 2012

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ASX Company News: Straits Resources To Sell Hillgrove Mine

Monday, August 29th, 2011

Straits Resources Ltd (SRQ) is pleased to report that it has reached an agreement with Ancoa for the sale of Hillgrove, subject to a successful capital raising and IPO by Ancoa, for $40m in cash and shares. Straits is to receive $20m of this consideration in cash and the balance of $20m in shares at the IPO price, upon the successful completion of Ancoa’s IPO. As part of the agreement, Straits shareholders registered at the record date will receive a priority entitlement to subscribe for shares in the Ancoa IPO. Ancoa has appointed Patersons Securities Limited as Lead Manager to their IPO and is well advanced in this process. Straits understands that Ancoa’s IPO prospectus will be lodged with ASIC on or about 3 October 2011, which would likely constitute the record date for the Straits shareholders to be eligible for the priority offer. The divestment of Hillgrove has been a published strategic objective for Straits and the consideration composition will not only ensure a significant cash injection into the company, but will provide leverage to future operational success through the shareholding in Ancoa.

Straits Resources Ltd (SRQ) is a mining and exploration company focused on copper and gold in Australia and Asia. Straits owns and operates the Tritton copper mine in NSW and the Mt Muro gold mine in Indonesia and has an exciting exploration portfolio focusing on projects in NSW and South Australia.

www.straits.com.au

http://www.traderdealer.com.au/fundamentals/srq

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ASX Company News: Straits Resources To Acquire Goldminco

Thursday, May 26th, 2011

Straits Resources Limited (SRQ) announced that it intends to make an offer to acquire all of the issued and outstanding common shares of Goldminco Corporation that it does not already own at an offer price of Cdn$0.10 in cash per share. Straits currently owns directly or indirectly, approximately 71.33% of the issued and outstanding common shares of Goldminco. The offer price represents a premium of approximately 82% over the closing price of the common shares on the Toronto Venture Exchange on May 24, 2011, the last trading day prior to this announcement. Straits has entered into a lock-up agreement with Anglo Pacific Group PLC, the second largest shareholder of Goldminco, pursuant to which Anglo, subject to certain limited exceptions, has irrevocably agreed to deposit and not withdraw its and its affiliates common shares under the offer. Anglo owns, directly or indirectly, approximately 17.01% of Goldminco. Straits has cash resources available to finance the offer. The offer will be subject to certain conditions including that the common shares held by Anglo shall have been validly deposited and not withdrawn under the offer.

Straits Resources is an ASX 200 diversified resources company focussed on generating strong and sustainable earnings for its shareholders from a balanced portfolio of resource projects and investments. Based in Perth, the company has a management team with an impressive track record of advancing resource projects through to full production. Straits controls and operates the Tritton Copper Operation and Hillgrove antimony/gold mines in NSW and the Mt Muro gold mine in Indonesia. Straits Resources also holds 40% of PTT Asia Pacific Mining Pty Ltd which holds 45.6% of Straits Asia Resources which is listed on the Singapore Exchange. Straits Asia controls and operates the Sebuku and Jembayan coal mines in Indonesia. In addition, Straits has an exposure to an outstanding portfolio of mining investments, development projects and exploration ground throughout Australia and Indonesia. Straits also owns GfE and Magontec, European based specialty metals businesses.

www.straits.com.au

http://www.traderdealer.com.au/fundamentals/srl

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Dividends: Straits Resources Ex Dividend On 21/9/2010

Wednesday, September 15th, 2010

Straits Resources (SRL) will go ex dividend on 21/9/2010. The current dividend payment is 5 cents and it is 0% franked. The record date is 27/9/2010 and the dividend will be paid on 8/10/2010. Based on the full year payment the dividend yield is 2.9%.

*Current Yield: 2.9% Franking: 0% DRP Discount: Not Available

Straits Resources

*Yield has been calculated on the closing price on the 13/9/2010. Current yield is based on the current dividend payment only.

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Straits Resources Completes Strategic Alliance

Thursday, April 30th, 2009

Straits Resources (SRL) is pleased to announce financial close of its strategic alliance with the PTT Group of Companies via the sale of a 60% interest in SRL’s wholly owned subsidiary, Straits Bulk & Industrial (SBI), for up to US$335 million as announced to the market on 23 March 2009. 

The strategic alliance between SRL and PTT will deliver the following benefits:

  • Achieves SRL s vision to establish a global coal vehicle with the financial capability to actively pursue opportunities in the thermal coal sector;
  • Introduces a motivated and financially capable major shareholder to support Straits Asia Resources Limited s future growth and development;
  • Realizes significant value for a portion of SRL s coal assets whilst providing SRL with continuing economic interest and management influence;
  • Re weights SRL s portfolio across bulk commodities, precious metals, base metals and other investments, diversifying SRL s exposure to commodity price, country and approval risks;
  • Strengthens SRL s financial position to pursue strategic acquisitions in the resources sector at a low point in the cycle;
  • Provides the opportunity for a return of capital to SRL shareholders; and
  • Facilitates a potential re-rating of the SRL share price as a result of unlocking the value disconnect between SRL s market capitalization and the implied value of the 47.1% stake in SAR. 

SRL has received the upfront cash completion payment of US$220 million from PTT. The remaining performance payment of up to US$115 million relates to certain matters in connection with reserve upgrades in relation to the mine located on Sebuku Island, South Kalimantan, Indonesia controlled and operated by SAR or as otherwise agreed between PTT and SRL. The performance payment is expected to be realized during 2009. Following receipt of the US$220 million cash proceeds, SRL has repaid the A$45 million Debt Facility provided by ANZ and Macquarie Bank Limited in full. The Board of SRL is currently reviewing the funding requirements of SRL going forward. As previously foreshadowed, SRL expects to return approximately one fifth of the total consideration received by SRL from the transaction to shareholders. 

www.straits.com.au

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