Author: roymorgansocial

Morgan talks up ‘unusual’ nickel find

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Original article by Tess Ingram
The Australian Financial Review – Page: 20 : 8-Sep-16

Comet Minerals, which is headed by mining industry veteran Hugh Morgan, has confirmed a significant nickel discovery in Nigeria. Morgan says the Titan discovery comprises metal balls that are comprised of nickel metal rather than lateritic or sulphite nickel. The extent of the Titan mineralisation has yet to be determined, although tests show that the nickel content of the metal balls exceeds 90 per cent. Morgan adds that Comet may consider an IPO in the future, and is in discussions regarding funding for the Titan project.

CORPORATES
COMET MINERALS, PATERSONS SECURITIES LIMITED, WESTERN MINING CORPORATION, NIGERIA. MINISTRY OF MINES AND STEEL DEVELOPMENT

ANZ-Roy Morgan Australian Consumer Confidence falls again – down 4.1pts to 114.3

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 7-Sep-16

ANZ-Roy Morgan Australian Consumer Confidence has fallen fell for the second week in a row, down 3.5 per cent to 114.3 in the week ending 4 September 2016. The sizeable decline more than offset the jump in confidence three weeks ago, which took the index to a 33-month high. The decline in confidence was largely driven by households’ views over the economic outlook. Households’ views of the economic outlook in the next 12 months fell by 7.6 per cent, while consumers’ views of their current and future finances fell by 2.7 per cent and 1.2 per cent respectively.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Bullion and coins seized as police spread the net wider

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Original article by Neil Chenoweth
The Australian Financial Review – Page: 3 : 7-Sep-16

Australia’s Justice Minister Michael Keenan has confirmed that a joint operation has carried out a series of raids in Queensland against clients of Panama-based law firm Mossack Fonseca. The Australian Federal Police, the Australian Criminal Intelligence Commission and Australian Taxation Office operation resulted in the seizure of 170kg of silver bullion and coins as part of the investigation into the use of offshore tax havens by high net worth individuals.

CORPORATES
AUSTRALIAN FEDERAL POLICE, AUSTRALIAN CRIMINAL INTELLIGENCE COMMISSION, AUSTRALIAN TAXATION OFFICE, MOSSACK FONSECA, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, INTERNATIONAL CONSORTIUM OF INVESTIGATIVE JOURNALISTS

Morrison ‘to launch super law in stages’

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Original article by Phillip Hudson
The Australian – Page: 4 : 7-Sep-16

The draft legislation for some elements of the Australian Government’s proposed superannuation tax reforms will be release on 7 September 2016. However, Treasurer Scott Morrison is still negotiating with backbenchers regarding some aspects of the reforms, including the $A500,000 lifetime cap on non-concessional contributions. Further aspects of the super reforms will be released in coming weeks. Morrison has stressed that the reforms are necessary to rein in the Budget deficit.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

China land ownership tiny

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Original article by Simone Fox Koob
The Australian – Page: 5 : 7-Sep-16

New data shows that Chinese interests have bought only 1.4 million hectares of the 385 million hectares of agricultural land in Australia, which equates to less than 0.5 per cent. The Treasury report notes that foreign investors own 53 million hectares of the nation’s farmland, with British interests accounting for 27.5 million hectares. Treasurer Scott Morrison has stressed the importance of foreign investment to the domestic economy.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, S KIDMAN AND COMPANY PTY LTD, DAKANG AUSTRALIA HOLDINGS PTY LTD

Free kick for RBA’s new chief

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Original article by Michael Bennet
The Australian – Page: 19 & 27 : 7-Sep-16

Financial markets estimate that there is a 42 per cent chance that the Reserve Bank of Australia will reduce the cash rate by the end of 2016. The general consensus of economists is that rates will remain on hold until 2017, after the central bank opted against easing monetary policy on 6 September. Expectations of a strong rise in GDP growth in the June quarter will strengthen the case for leaving rates on hold. Philip Lowe will shortly succeed Glenn Stevens as Reserve Bank governor.

CORPORATES
RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UBS HOLDINGS PTY LTD, CLSA AUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, STANDARD AND POOR’S ASX 200 INDEX, MORTGAGE CHOICE LIMITED – ASX MOC, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

APLNG to sell gas on local market

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Original article by Matt Chambers
The Australian – Page: 24 : 7-Sep-16

Surplus gas from the Origin Energy and ConocoPhillips-led Australia Pacific LNG project will be made available to domestic users rather than exported. APA Group will operate a 50km pipeline on behalf of APLNG that will be used to supply the eastern states with coal-seam gas that is surplus to export requirements. The Shell-owned Queensland Curtis LNG project also supplies surplus gas to the domestic market, as prices are higher than in the spot market.

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, CONOCO (UK) LIMITED, AUSTRALIA PACIFIC LNG LIMITED, APA GROUP – ASX APA, ROYAL DUTCH SHELL PLC, QUEENSLAND CURTIS LNG PTY LTD, SANTOS LIMITED – ASX STO, GLADSTONE LNG PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Extended Play for streaming Foxtel

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Original article by Darren Davidson
The Australian – Page: 21 : 7-Sep-16

Foxtel has revealed plans to launch a lower-cost version of its Play streaming service in December 2016. The new product is expected to be offered at a similar price to rival subscription video-on-demand services such as Netflix and Stan, and Foxtel CEO Peter Tonagh is confident that it will primarily be taken up by non-Foxtel households rather than current customers. Meanwhile, Foxtel has commissioned a new TV version of "Picnic At Hanging Rock" and secured a new content deal with HBO.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, FREMANTLEMEDIA AUSTRALIA PTY LTD, HBO, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS

Bullish Toro plans $250m IPO

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Original article by Paul Garvey
The Australian – Page: 19 & 24 : 7-Sep-16

Resource Capital Funds, Taurus Funds Management and Tembo Capital are among the groups that have provided funding for Toro Gold, which is slated to commence production at its Mako mine in Senegal in 2018. Toro’s Mark Connelly says a decision will be made shortly on a potential sharemarket float for the gold hopeful. He estimates that Toro would boast a market capitalisation of more than $A250m, based on the valuations of listed gold producers.

CORPORATES
TORO GOLD PTY LTD, RESOURCE CAPITAL FUNDS, TAURUS FUNDS MANAGEMENT PTY LTD, TEMBO CAPITAL LLP, PAPILLON RESOURCES LIMITED, ADAMUS RESOURCES LIMITED, DACIAN GOLD LIMITED – ASX DCN, ROXGOLD INCORPORATED, MINERAL DEPOSITS LIMITED – ASX MDL, B2GOLD CORPORATION, ENDEAVOUR MINING CORPORATION

Anti-siphoning rules ‘rob sport’

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Original article by Darren Davidson
The Australian – Page: 21 : 7-Sep-16

Fox Sports CEO Patrick Delany says the pay-TV channel and Foxtel have invested $A1.2bn in sports over the last four years, and he argues that many sports would not be viable without this contribution. Delany has criticised the anti-siphoning list, noting that Foxtel cannot buy the exclusive rights to 1,800 sports events yet telcos and streaming video providers have no such restrictions. He also notes that the Seven Network bought the rights to the 2016 Rio de Janeiro Olympic Games and proceeded to charge for premium content that was streamed online.

CORPORATES
FOX SPORTS AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, NATIONAL RUGBY LEAGUE, SUPER RUGBY, THE A LEAGUE PTY LTD, V8 SUPERCARS AUSTRALIA PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS