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Business Description: Aquila Resources Limited (AQA) is an ASX listed company with project interests in iron ore, coal and manganese in Australia and South Africa. The Company's primary focus is the development of the West Pilbara Iron Ore Project and Eagle Downs Hard Coking Coal Project.
Strategy Analysis: Aquila has a strong pipeline of projects at various stages of development. Advanced projects include the Eagle Downs coal project and the West Pilbara Iron Ore project. Aquila´s Iron ore projects are progressing with the establishment of the Australian Premium Iron Ore Joint Venture (API), with Vale (sold by AMCI to Vale). Vale will sole fund the first AUD 10 million of exploration expenditure, which will focus on the west Pilbara region in Western Australia. Aquila also has a number of other iron ore and coal joint ventures which it is earning interests in through exploration. These projects are spread across Botswana and Australia.
Aquila Resources reported negative cash flow of $20.53m for the quarter ended 31 December 2012. Operating cash flow for the period was $(20.05m). Payments for exploration and evaluation were $(19.44m). Investing cash flow was $(477,000). Financing cash flow was nil. Cash in hand at the end of the quarter was $440.89m. CSIRO compact sinter testing results were received during the quarter confirming that West Pilbara Fines is a product that is very compatible with certain sinter feeds. In addition, work continued on completing the requirements for the environmental approval for the Washpool Hard Coking Coal Project with discussions focussing on a groundwater monitoring program and biodiversity offsets which are expected to be undertaken over the next six months.
Handing over, what if you need someone else to make decisions for you? There are times in your life when you can't fulfil your financial obligations personally.
The Age 20/05/2013 |
It is getting virtually impossible to find an expert who believes global equity markets are a risky place to invest. As markets on all continents grind higher and higher, the bears are in danger of becoming extinct and the Winston Churchill "voice in the wilderness" warning us of the troubles ahead seems to have departed the scene. When everyone is in agreement, we should start to get a little worried.
The Age 20/05/2013 |
Tiger Australia has continued to narrow its losses due to stronger returns from fares and is operating without restrictions from air-safety authorities.
The Age 20/05/2013 |
When it comes to forecasting the economy - and thereby the budget balance - the econocrats of the Reserve Bank and Treasury are on a hiding to nothing.
The Age 20/05/2013 |
Markets ought to be about competition. To quote historian Niall Ferguson, they should ensure the survival of the fittest, not the fattest.
The Age 20/05/2013 |
Investment bank Morgan Stanley Smith Barney is being sued after losing more than $5 million from the super accounts of two private clients with a series of "aggressive, highly speculative and high-risk" trades using derivatives and share options.
Sydney Morning Herald 20/05/2013 |
It is getting virtually impossible to find an expert who believes global equity markets are a risky place to invest. As markets on all continents grind higher and higher, the bears are in danger of becoming extinct and the Winston Churchill "voice in the wilderness" warning us of the troubles ahead seems to have departed the scene. When everyone is in agreement, we should start to get a little worried.
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