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Queensland business briefs: Your daily Sunshine State update

Business

The latest news on Queensland companies including Alliance, Sayona, Austral Resources, Bowen, ASIC, Sunshine Loans, New Hope, Anglo, PeopleIn, Audeara, Star, Superior, Propell, QPM, QEM, Flight Centre, Aust Ag and Hawsons Iron

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Alliance signs up with CITIC

Jun 27: Alliance Aviation has struck a deal with CITIC to provide air charter services for another six years.

It will provide 22 services a week between Perth and Cape Preston in addition to any ad-hoc services requested.

Managing director Scott McMillan said the deal was testament to the strong working relationship with the company that started in 2009.

Sayona reveals discovery

Jun 27: Emerging lithium company Sayona said it had discovered multiple new mineralised lithium pegmatites at its Moblan joint venture in Quebec.

A 35-metre drill hole revealed grades of up to 2 per cent of lithium oxide.

“The drilling has shown that spodumene pegmatites are more significantly developed at depth than can be recognised at the surface, indicating the potential for the discovery of multiple pegmatite clusters,” the company said.

Managing director Brett Lynch said the results were another boost for the company and demonstrated the potential of Moblan to become a world-class deposit.

Austral loses CEO

June 27: Austral’s chief executive Steve Tambanis has parted ways with the company after the announcement that he and the company had reached a mutual decision to most renew the consulting contract that expired at the end of May.

Dan Jauncey remains as executive director and would take on the role of chief executive from August 1.

 

Bowen rails first coal

Jun 14: Bowen Coking Coal has sent its first shipment from its Bluff open cut PCI mine through the RG Tanna terminal.

The company said it was a significant milestone. The shipment was under a sales contract with the Formosa Plastics Group in Taiwan.

Managing director Gerhard Redelinghuys said it was just the start of a ramp up.

ASIC pursues Sunshine Loans

Jun 7: ASIC has commenced civil penalty proceedings in the Federal Court against Queensland based Sunshine loans Pty Ltd for collecting more than $320,000 in fees ASIC alleges it was prohibited from charging when providing Small Amount Credit Contracts (SACCs).

ASIC alleges Sunshine Loans charged these fees to consumers when they sought to reschedule or amend the payments of their contracts more than 9000 times, in circumstances where ASIC alleges the fees were prohibited under the National Credit Code.

New Hope enters top 200

Jun 6: Coal producer New Hope has entered the S&P 200 index.

The index is an important investment category because it means that the company would be included in any index investing.

The company’s shares are now trading above $4 and have almost doubled in six months on the back of strong coal prices.

Anglo appoints new coal boss

June 3: Daniel van der Westhuizen has been appointed as chief executive of Anglo American in Australia, and will lead the company’s coal business based in Brisbane.
Anglo American’s global bulk commodities chief executive Themba Mkhwanazi said van der Westhuizen would bring extensive cross-commodity mining experience in Australia and
a strong understanding of the role that premium quality steelmaking coal must play in the transition to a decarbonised world.
“Anglo American has a series of ambitious goals to transform the future of mining across the full range of sustainability areas, which all of our businesses around the world, including in Australia, are committed to achieving,” he said.

PeopleIn snaps up another company

June 3: Workforce solutions company PeopleIn has bought FIP Group, one of the biggest providers of staff to the food sector for $45 million.

FIP Group is a significant player in the PALM Scheme, which brings in workers from Timor Leste and Pacific Islanders to work in farming and food production.

PeopleIn said the deal would increase its position in the food sector and cemented its place as the largest ASX-listed recruitment and staffing company in Australia.

 

Audeara signs up with Specsavers

June 3: Hearing device manufacturer Audeara has signed a reseller deal with Specsaver.

Founder James Fielding said the deal would provide more exposure for Audeara and expand the company beyond audiology clinics.

He said it would mean a 20 per cent increase in the number of outlets selling Audeara products.

Star will front inquiry

June 2: Casino owner Star Entertainment said it would appear before the parliamentary committee inquiry on Casino legislation amendments.

The amendments were introduced in Parliament recently after a wave of allegations relating to Star’s operations at its Sydney casino.

The amendments include a fine of up to $50 million for serious breaches of the legislation.

Superior talks up Bottletree

June 2: Superior Resources said its Bottletree project near Greenvale in north Queensland was showing signs of being “a very large scale copper-gold system”.

Assays from one drill hole had shown grades and intersectional widths that were similar to or better than recent copper discoveries in South America, British Colombia and Australia.

Assays from a drillhole completed last year showed mineralisation over its entire 658 metre length. It adds to another drillhole 500 metres away which showed a copper zone of 224 metres.

The announcement sent the company’s shares up 40 per cent.

Tourism boost from cruises

June 2: P&O Cruises ship Pacific Explorer has docked in Brisbane after a gap of two years.

It is the first cruise ship to return to the city since the pandemic and the first to berth at the International Cruise Terminal, which was completed in 2020.

The Quantum of the Seas is scheduled to berth in Brisbane later this year and in Cairns in 2023 while the Queen Mary 2 is also planning a trip to Queensland.

Propell hits record month

June 2: SME finance platform Propell said it now had 2000 users after a 20 per cent jump in the third quarter.

Average loan size also increased.

It lent $1.2 million in new originations and was on track for a record fourth quarter.

Daitreme confirms talks

June 2: Diatreme Resources has confirmed that it is in discussion with a third party over a potential stake in the company.

In response to a query from the ASX over its share price, Diatreme said the talks were in an early stage and final terms had not been agreed.

It said an announcement would be made if and when a binding agreement was signed.

QPM signs ore deal

June 2: Queensland Pacific Metals has entered into a binding ore supply agreement with Societe des Mines de la Tontouta (SMT) for the planned Townsville nickel refinery, known as the TECH project.

It adds to another agreement with Societe Le Nickel previously struck which delivers ore supply for QPM.

The 10-year agreement with SMT starts from 2023 and is for 600,000 wet metric tonnes a year. It is conditional on QPM’s final investment decision on the TECH project.

ALS profit increases

May 25: ALS has reported a $21 million increase to net profit for the full year with a bottom line result of $190 million.

Its life sciences underlying EBIT margin was up 16.9 per cent and the commodities division rose almost 30 per cent.

A final dividend of 17 cents a share was declared, franked to 30 per cent.

Vanadium plant ready to go

May 25: QEM said its vanadium and oil shale pilot plant has been commissioned and was expected to be operational for six months.

The plant is designed to validate the company’s extraction process for its mine near Julia Creek in north west Queensland.

Elf takes over Flight Centre Corporate

May 25: Melissa Elf has been appointed managing director of Flight Centre’s corporate division for Australia and New Zealand.

A 25-year veteran of the travel sector, Elf said the change was not big step from how it had been running throughout the pandemic.

AustAg loses key executive

May 24: Australian Agriculture said its chief financial officer Nigel Simonsz had resigned, but would stay with the company until July 28.

Aust Ag said it would start a comprehensive search for a replacement and stressed it had strong internal financial capability and there would be an orderly transition.

It said Simonsz was moving to a role closer to his Melbourne home.

Hawsons picks a new leader

May 20: Iron ore junior Hawsons Iron has appointed David Woodall as non-executive chairman as the incumbent Bryan Granzien moves to managing director to focus on the bankable feasibility study on the Broken Hill project.

Woodall has previously been on the boards of Ergon, Energex, Tarong Energy, Terra Gas Traders, Starfish Windfarm, TN Power and Tarong Renewable. He was also an executive with MIM and Grainco.

Granzien said the expansion of the board had always been part of its strategy.

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