Sanjeev Gupta's Whyalla port row gives contractor a $113m headache
NRW shares plunged by more than 8 per cent in early trade on Thursday after the Western Australia-based company came out of a trading halt on the ASX.
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News.com.au
an hour ago
- News.com.au
Lunch Wrap: ASX smashes fresh record as earnings season runs hot
ASX hits fresh high as Origin powers up
 Westpac jumps on big quarter Bitcoin smashes record, Ethereum eyes personal best next The ASX was strutting into Thursday lunchtime in the east with a 0.7% lift, rewriting the record books yet again. Wall Street also rallied overnight, buoyed by the growing belief the Fed's about to hand out rate cuts like a spring clearance sale. Bitcoin burst into the party, too, clocking another all-time high and flexing at US$123,675 at the time of writing, while Ethereum is lurking just shy of its own record of US$4,878 (set four years ago). Back home, it was the utilities sector leading the charge, up on the back of Origin Energy's (ASX:ORG) blockbuster 5% surge. Origin's LNG cash machine kept humming in FY25, lifting profit, fattening franked dividends, and easily outshining softer energy retail as it handed shareholders a juicier 60c payout. Banks also staged a comeback after Wednesday's bruising. Westpac (ASX:WBC) was the headline act, rocketing 7% thanks to a 14% jump in third-quarter profit and a cool $10 billion lift in deposits. Suncorp Group (ASX:SUN) rose 3% on a 52% profit leap in its full-year results thanks to its ANZ bank sale gains. Elsewhere in earnings season madness, Telstra (ASX:TLS) was the lone sector buzzkill for telcos, down 3% despite a 31% jump in annual profit to $2.34 billion and a $1 billion share buyback. Pro Medicus (ASX:PME) impressed with a 40% profit jump in its full-year numbers and $520 million in fresh US contracts, lifting shares 5%. Temple & Webster (ASX:TPW) jumped 7% after full-year revenue grew 21%. Apparently we still can't resist a good online furniture binge. But not everyone was kicking goals. South32 (ASX:S32) slid 5% after slapping a US$372 million impairment on its Mozal aluminium smelter in Mozambique. Without a new power deal, the operation could shut in March, it said. ASX LEADERS Today's best performing stocks (including small caps) intraday: Security Description Last % Volume MktCap GGE Grand Gulf Energy 0.002 100% 800,584 $2,820,425 MRD Mount Ridley Mines 0.005 80% 30,230,623 $1,946,223 ATV Activeportgroupltd 0.016 68% 59,216,662 $6,526,282 MEL Metgasco Ltd 0.003 50% 100,000 $3,674,173 OD6 Od6Metalsltd 0.100 47% 19,995,087 $10,911,821 BPH BPH Energy Ltd 0.013 44% 19,133,068 $10,964,095 BPP Babylon Pump & Power 0.007 40% 7,930,629 $19,034,455 CR9 Corellares 0.004 33% 750,000 $3,021,809 TYX Tyranna Res Ltd 0.004 33% 250,000 $10,026,464 KNG Kingsland Minerals 0.185 28% 352,638 $10,521,332 BMM Bayanminingandmin 0.165 27% 5,500,122 $14,196,703 FRB Firebird Metals 0.175 25% 3,055,947 $19,930,596 ARV Artemis Resources 0.005 25% 3,261,000 $11,462,689 DTM Dart Mining NL 0.003 25% 10,091,666 $2,396,111 OSX Osteopore Limited 0.010 25% 933,405 $1,898,080 VRC Volt Resources Ltd 0.005 25% 25,681 $18,739,398 SLM Solismineralsltd 0.135 23% 1,380,384 $15,518,820 BM8 Battery Age Minerals 0.082 22% 11,644,677 $10,170,722 BMG BMG Resources Ltd 0.012 21% 10,315,111 $8,059,773 MMR Mec Resources 0.006 20% 6,840,475 $9,248,829 SPQ Superior Resources 0.006 20% 1,487,217 $11,854,914 TML Timah Resources Ltd 0.031 19% 164 $2,307,754 ActivePort Group (ASX:ATV) has switched on Australia's first private-cloud superhighway, landing DigiCo, Equinix and NextDC as early customers just weeks after launch. Its Private-Cloud Connect delivers wholesale, fibre-based, on-demand bandwidth between branch offices and private clouds in top Aussie data centres, built for the AI era where demand for local hosting is surging. Battery Age Minerals (ASX:BM8) has confirmed Falcon Lake is more than just a lithium play, with new assays showing high-grade rubidium, caesium, tantalum and gallium alongside its already strong spodumene hits. The latest drilling backs Falcon Lake as a multi-metal prize, with standout lithium intercepts including 54.1m at 1.74% Liâ‚‚O and 55.95m at 1.47% Liâ‚‚O. With only five of 30 high-priority targets drilled and lithium prices starting to recover, the company said the project has plenty of runway for more discoveries and market upside. ASX LAGGARDS Today's worst performing stocks (including small caps) intraday: Code Name Price % Change Volume Market Cap LNU Linius Tech Limited 0.001 -50% 7,546,000 $13,002,431 ECT Env Clean Tech Ltd. 0.003 -25% 553,610 $16,061,742 PKO Peako Limited 0.003 -25% 10,670,597 $5,950,968 RKB Rokeby Resources Ltd 0.010 -23% 3,031,200 $21,253,195 CAV Carnavale Resources 0.004 -20% 858,307 $20,451,092 ERA Energy Resources 0.002 -20% 1,929,673 $1,013,490,602 CTM Centaurus Metals Ltd 0.368 -18% 1,344,178 $223,515,546 BUY Bounty Oil & Gas NL 0.003 -17% 870,000 $4,684,416 EMT Emetals Limited 0.005 -17% 1,069,204 $5,100,000 SER Strategic Energy 0.005 -17% 3,354,304 $5,020,150 SHP South Harz Potash 0.003 -17% 1,400,675 $4,415,170 AVE Avecho Biotech Ltd 0.006 -14% 99,629 $22,214,246 CR1 Constellation Res 0.120 -14% 5,000 $10,088,556 CYQ Cycliq Group Ltd 0.006 -14% 93,818 $3,223,617 OVT Ovanti Limited 0.006 -14% 1,343,942 $29,920,265 TSL Titanium Sands Ltd 0.006 -14% 410,785 $16,413,230 BEL Bentley Capital Ltd 0.013 -13% 1,550,000 $1,141,919 ANR Anatara Ls Ltd 0.007 -13% 100,000 $1,708,723 AON Apollo Minerals Ltd 0.007 -13% 512,488 $7,427,655 IN CASE YOU MISSED IT RBA rate cut: Why the cost of doing nothing just got more expensive for property investors. Parental safety and privacy concerns are fuelling growth for ASX tech stocks in the booming 'anxiety economy'. White Cliff Minerals' (ASX:WCN) first round of drilling at Rae has identified a sediment-hosted copper system, underlain by semi-massive sulphide veining. Albion Resources (ASX:ALB) has completed the sale of Mongers Lake to Capricorn Metals (ASX:CMM) for $100,000 cash and 1.4 million in shares. LAST ORDERS Lumos Diagnostics (ASX:LDX) is looking to expand its marketing presence in the US, inking a partnering agreement with US-based market access consultancy, PRO-spectus. PRO-spectus will support the marketing, market access, and reimbursement of LDX's flagship point-of-care test, FebriDx®. New Age Exploration (ASX:NAE) has welcomed financial market veteran Daniel Eddington to the board as an independent non-executive director. Eddington also serves as a non-executive director for Osmond Resources (ASX:OSM) and Jade Gas (ASX:JGH) and as a director of Sparc Technologies (ASX:SPN). VHM (ASX:VHM) is moving into a new stage of development for its heavy minerals and rare earths Goschen project, welcoming new CEO Andrew King and CFO Benjamin McCormick to the board effective October 1. Current CEO Ron Douglas will subsequently resume his non-executive director position on the board as planned, after assisting in King's transition over the next few months. At Stockhead, we tell it like it is. While Lumos Diagnostics, VHM and New Age Exploration are Stockhead advertisers, they did not sponsor this article.
ABC News
an hour ago
- ABC News
Proposed expansion to Alcoa's bauxite mining in WA's jarrah forrests could produce 1.3 billion tonnes of emisions
US aluminium giant Alcoa's proposed expansions to its mining operations near Perth would release three years worth of Australia's greenhouse gas emissions over the projects' lifetimes. The Pennsylvania-based company has mined amongst the world's only jarrah forests in Western Australia for bauxite — used to create aluminium — since the 1960s. Alcoa has two proposals before the Environmental Protection Authority (EPA) to expand its mining operations in WA's state forests and increase its alumina production. The proposals are open for public comment and submissions. An analysis of the publicly available proposals shows the projects could emit more than 1.3 billion tonnes of green house gas emissions over their lifetime, including clearing, mining, and refining until 2045. This equates to about three times Australia's annual green house gas emissions from all sources, according to the Australian Bureau of Statistics. Greens WA MLC Jess Beckerling said, emissions-wise, it was equivalent to opening 17 to 18 coal-fired power stations. "You cannot imagine a situation in which either the WA state government or the federal government would be considering opening another 17 to 18 new coal-fired power stations as we're trying to reach net zero by 2050," she said. Alcoa's climate change policy states it "acknowledges the scientific evidence of global warming" and "supported the need for an urgent global response". The company has committed to reducing its carbon intensity in manufacturing its products, and leading research and development programs to reduce its greenhouse gas emissions. Alcoa has been contacted for comment. Local towns in the fray of Alcoa's proposed mining expansions have raised concerns and suggestions, including the Shire of Mundaring which has resolved to oppose bauxite exploration and mining. In a statement, Shire President Paige McNeil said the decision reflected the community's concerns for water security and environmental impacts. "Our community told us that the health of our water catchment and the unique environment of the Perth Hills must be protected for future generations. Our community is not willing to accept exploration drilling that could lead to the mining of our unique jarrah forest," she said. "Council's decision reflects our responsibility to safeguard our environment now and into the future and to advocate strongly on behalf of our residents." The shire has requested Alcoa to voluntarily excise the Mundaring Weir Catchment area from their exploration drilling program, and is opposed to any exploration and mining in the Northern Jarrah Forest. Alcoa is exempt from most of the state's environmental legislation and is instead governed under state agreement which allow it to mine about 7,000 square kilometres of forest. Once the public consultation period is over for Alcoa's proposals, the EPA will assess them and make a recommendation, and the proposals are ultimately approved or opposed by the Minister for State and Industry Development. Alcoa's director of regulatory approvals Kane Moyle said the company's proposed exploration "does not indicate an intention to mine in that area". "Any proposal to mine would involve rigorous consultation, assessment and in fact approval before we could do so," he told ABC Radio Perth. A review of Alcoa's forest rehabilitation efforts, published in the scientific journal Restoration Ecology, indicated the company's results were "substandard" and on a "poor to declining trajectory". Alcoa contested the claims and said it had started rehabilitating 75 per cent of the land it cleared. Alcoa has not completed rehabilitation in any of the 280 sq km of forest it has cleared in WA. The Shire of Waroona has made a submission to the EPA suggesting a "bond" from Alcoa to ensure the forests were restored. Shire President Mike Walmsley said Alcoa no longer mined in the shire but had fallen "behind" on their promise to rehabilitate the areas it had mined. "One of our submissions was very similar to what we do with an extractive industries license is that we bond the works of rehabilitation," he told ABC Radio South West. "So if someone was to walk away from the sandpit or something in our shire that there's still money available to make sure that sandpit or whatever is rehabilitated."
Perth Now
an hour ago
- Perth Now
Eagles bullish AFL's $2 million man will stay
West Coast coach Andrew McQualter is optimistic Harley Reid will stay at the club for the long term despite more Godfather-type offers rolling in for the star midfielder. Reid is contracted to West Coast until the end of 2026 but there is already a huge tug-of-war for the No.1 draft pick. St Kilda were the latest club to throw their hat into the ring, with the Saints reportedly contemplating an offer in the vicinity of $25 million over 12 years. The Eagles offer is rumoured to be about $24 million over 11 years - composing of an initial two-year deal with a trigger for the remaining nine. Hawthorn, Essendon and Geelong are others to have shown interest in Reid, with Melbourne-based clubs hoping the pull-home factor will convince the Victorian to leave West Coast. Reid's management say the 20-year-old is happy in Perth, and the Eagles are hopeful of being able to re-sign the midfield bull. "I'm really confident Harley will be here," McQualter said on Thursday. "Every day Harley turns up to work, he's incredibly invested in this team, this club. So yeah, I'm really optimistic that Harley will be here." When asked to clarify whether his optimism around Reid was merely for next year or for the long term, McQualter replied: "I'm talking for a long time." "The young man is really invested," McQualter added. "He's working hard to make us become better, to get himself better. "He cares about the group, cares about the club. So there's signs that point to me that he's really invested." Questions have been raised about whether it's in the best interests of a club to commit more than $2 million a season on one player. McQualter doesn't see any issues with it. "Money's different to what it used to be," the former Saints and Suns tagger said. "When I played, I got paid $48,000. So if you're asking me would I have taken $2 million - the answer is yes, I would have. "Was I worth it? No, I think that's pretty obvious. "But I think that's just where the game's trending. It's going up. It'll happen eventually - someone will be that player. "There was a time when no one was a million dollar player, and that broke a record. So that'll just be what happens, and it will keep moving like that in the future." McQualter was less bullish when it came to co-captain Oscar Allen, who as a restricted free agent is expected to sign with the Brisbane Lions. "We're working with Oscar's management. We're still not clear where it'll be, but we're working really hard to try and make Oscar a player here for a long time," McQualter said. The Eagles showed enormous fight in last week's nine-point loss to Adelaide, and they'll face another big task on Sunday against a star-studded Western Bulldogs attack featuring Sam Darcy and Aaron Naughton at Marvel Stadium.
