APA Group forecasts stronger growth after profit climbs 6.4pc
The distribution to shareholders should also climb another 1¢ per security in fiscal 2026 to 58¢ per security, the Sydney-based company said in guidance that met market expectations.
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Perth Now
8 hours ago
- Perth Now
Popular burger chain's next Perth location revealed
Hip-hop inspired burger chain Milky Lane has announced Willeton's Southlands precinct will be the home of its next west coast venue, confident the State's appetite for oversized snacks and decadent desserts is far from satisfied. Set to be unveiled on August 22, it will mark the brand's fifth active WA location since it launched nationally in 2016. Entering the State via Elizabeth Quay in 2022, the chain has since expanded to Curtin University, Currambine and Bunbury. 'Western Australia has embraced us in a way that's truly unmatched,' Milky Lane co-founder Christian Avant said. 'There's a genuine appetite here for what we do, weird big flavours, bold vibes, and unforgettable experiences. Southlands felt like the perfect next move. It's a growing precinct, and we see real potential to build something that serves the local community while keeping the party going.' Milky Lane burgers match those with large appetites. Credit: Milky Lane Milky Lane's only local regret has been its February 2025 venture up the coast into Karratha, with the brand and Pilbara-based Stardeck Group recently announcing their regional franchise agreement would be terminated later this month. Ray Stauss, WA Area Developer for Milky Lane, said its next local venture would not just benefit the community through the recruitment of dozens of workers, but by way of its cultural footprint. Milky Lane is known for its adventurous menu. Credit: Milky Lane 'The choice of Southlands Willetton is no accident. As one of Perth's rapidly evolving lifestyle hubs, Southlands brings together diverse demographics, families, students, and nightlife lovers alike, making it a prime destination for Milky Lane's signature blend of food, music, and culture,' Mr Strauss said. 'Guests can expect iconic street-art murals, tailored to the local scene, live DJ sets spinning hip-hop and R&B tracks into the night, insane burgers and next-level desserts, and signature cocktails made to impress and share. With Willeton locals to be treated to signature favourites, Milky Lane has promised a few exclusive menu items will also be unveiled.
News.com.au
9 hours ago
- News.com.au
ASX steadies as banks lead recovery after CSL shock
Australia's sharemarket edged higher on Wednesday, bouncing back slightly after a two-day slump driven by CSL's record one-day fall. The S&P/ASX 200 rose 21.8 points, or 0.25 per cent, to 8,918, while the broader All Ordinaries added 3.6 points to 9,177.4. The Australian dollar slipped slightly to 64.7 US cents. Over the past five days, the index has gained 1.03 per cent and sits just 0.5 per cent below its 52-week high. Banks continued to support the market, with all four major lenders climbing. Commonwealth Bank added 0.79 per cent to $172.40, Westpac jumped 2.47 per cent to $38.23, NAB surged 3.68 per cent to $42.03, and ANZ rose 1.95 per cent to $33.41. IG analyst Tony Sycamore said the ASX 200 had performed 'really well'. 'The ASX 200 is insulated because we don't have the concentration of tech stocks that hit the US markets,' Mr Sycamore said. 'One of the reasons why we're seen as a more defensive market is because we've got the banks, and the banks have done well again today.' Seven of the 11 sectors higher. After Tuesday's shock fall of 16.89 per cent in CSL shares, the healthcare giant continued to weigh on the sector, which slipped 1.28 per cent. Other sectors on the decline included information technology (-2.32 per cent), materials (-1.16 per cent), and energy (-1.23 per cent), while consumer discretionary (+1.93 per cent), real estate (+1.80 per cent), and financials (+1.43 per cent) led the winners. 'Elsewhere, we saw some fall in CSL extent today, so there is certainly an exodus which continues from that particular stock, and it does feel like the market's the wrong way around with regards to CSL,' Mr Sycamore said. 'It was certainly a shock yesterday, and in terms of early season bombshells, probably the biggest one I can recall in recent memory.' Top performers on Wednesday included HMC Capital, up 17.74 per cent to $3.85, and Centuria Capital Group, which gained 11.63 per cent to $2.40. Synlait Milk (+8.11 per cent), Service Stream (+7.92 per cent), and Strickland Metals (+7.69 per cent) also posted strong gains. However, some high-profile falls highlighted ongoing volatility. James Hardie plunged 27.83 per cent to $32, while Arafura Rare Earths (-13.64 per cent), Elsight (-13.53 per cent), and Electro Optic Systems (-13.09 per cent) were among the biggest decliners. Mr Sycamore said after recent market jitters and high-profile earnings shocks, investors were seeking safer options. 'The lure of the banks is proving to be appealing,' Mr Sycamore said. 'Given recent uncertainty, investors are moving towards stocks with cheaper valuations. For example, CBA trading at $172 now compared to $192 a couple of months ago makes it look more attractive. 'We're moving into a period where people are going to be more selective and favour cheaper, more defensively valued stocks.' Miners gave back some of Tuesday's gains. BHP, which rallied 1.57 per cent on Monday, retreated slightly in Wednesday's session, reflecting a broader pullback in the sector. 'Big mining stocks had a bad day today, but their valuations aren't expensive by any stretch of the imagination,' Mr Sycamore said. 'We're seeing more stock selection based on value rather than just momentum, which has been driving markets for a while.'
West Australian
9 hours ago
- West Australian
Viridis unveils 40-year mine reserve at giant Brazil rare earths play
Viridis Mining & Minerals has unleashed a milestone 200-million-tonne maiden ore reserve for its flagship Colossus project in Brazil, locking in a 40-year mine life at a titillating 740 parts per million (ppm) of the all-important magnetic rare earth oxides (MREO). The broader reserves clock in at 2640ppm total rare earth oxides (TREO). With a lean 0.45:1 strip ratio and a robust 61 per cent resource-to-reserve conversion, the maiden reserve locks in Colossus as a tier-one ionic clay rare earth project ready for mining. The reserves draw from the project's Northern Concessions, Southern Complex and Capão da Onça deposits, which were converted from a measured and indicated resource base of 329Mt grading 2680ppm TREO. The company says it taps into just 12 per cent of Viridis' sprawling 21,000-hectare landholding in Brazil's Poços de Caldas complex, leaving high-grade zones such as its Tamoyo and the Southern Concessions prospects untouched for significant upside and future growth. The reserve feeds into Viridis' recent blockbuster prefeasibility study for Colossus, which pegged the project at a pre-tax net present value of US$1.41 billion (A$2.14 billion), with a lowest-in-class operating cost of just US$6.20 per kilogram TREO. The pre-feasibility study was conducted at a highly conservative rare earths pricing and envisioned a 20-year mine life for the project based on 98.5Mt at 936ppm MREO, which has now been substantially expanded by the latest 200.6Mt at 740ppm reserve. The project now stretches that horizon to some 40 years of mining at the same 5Mtpa production rate. The project is set to churn out a considerable 9448t of TREO, including 3518t of MREO, to add a significant supply stream to the global rare earths landscape. The economics are improving daily as rare earth prices surge. Even in softer commodity markets, with a base-case neodymium-praseodymium price of US$90/kg, the shallow open-pit design keeps costs razor-thin and profitable at the potentially world-class operation. The Colossus project impressively features unrivalled access to a 100 per cent hydro and solar-powered grid and proximal infrastructure in Poços de Caldas. The project's cost advantages and its global strategic importance are near unrivalled in the rare earths space. As geopolitical tensions spotlight the need for non-Chinese rare earths, the project is quickly emerging as a potential cornerstone for Western supply chains. Its focus on magnet rare earths - neodymium, praseodymium, dysprosium and terbium - positions it to meet surging demand for electrification and decarbonisation. The United States Department of Defence's recent deal with California-based MP Materials included an impressive US$110/kg neodymium-praseodymium price floor for its rare earth product. It underscores the strategic urgency of securing a vertically integrated Western supply, with Viridis' low-cost, high-grade profile making it a prime target. Viridis is gearing up for a catalyst-rich financial year ahead, with environmental permitting, a MREC demonstration plant, definitive feasibility study and offtake negotiations all in the wind. Bolstered by a recent $11.5 million placement, the company's unmatched ionic clay economics position it to ride the recent wave of critical minerals demand. The company's share price has already quadrupled in the past three months as the no-longer junior explorer begins to throw its name up with the big boys of the rare earths space. With Brazilian government support secured, Viridis looks comfortably placed with Moreno at the helm to cash in on the surging demand for magnet rare earths. Viridis will now move on to its critical definitive feasibility study and final investment decision phases, where execution becomes paramount. The company says its targeted metallurgical test program to enhance recoveries will underpin the definitive feasibility study, which it will no doubt accelerate to strike while the iron is hot. Is your ASX-listed company doing something interesting? Contact:
