AusGroup    Last:0.009   -

AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m

wonders what boiling this time round.

got an announcement of dissolution to e subsidiary yesterday...

 

good what...can get free blood donation and recover.

 

This one can vomit blood.

 

Look like warming up now ???.

 

 

Orderbook very small. The KML issue draggy. No investor interest. RTO no news no sound. Suddenly will come when

 

this is getting worse by e day...

 

no much action leh. maybe next year engine up? lol

raymaster      ( Date: 07-Aug-2013 15:14) Posted: no sound no picture. fishy counter, beware might sudden engine power up late. good luck.

 

no sound no picture.

fishy counter, beware might sudden engine power up late.

good luck.

 

AusGroup Managing Director and CEO Laurie Barlow said: " AGC is pleased that KML has agreed to make payment on an outstanding invoice and believe that a successful outcome is achievable."

 
Very encouraging results will bring the confidents of the Investors back.....Cheers!

 

He's trying to say: BUY!

happyharvest      ( Date: 03-Aug-2013 22:16) Posted: So what does this mean? Peter_Pan      ( Date: 03-Aug-2013 12:11) Posted: Cash call for Karara ramp-up Gindalbie Metals says its half-owned Karara project has produced its first premium-grade concentrate, but the magnetite mine could need millions more from China's Ansteel before it is fully operational. Managing director Tim Netscher said yesterday Karara had produced its first 68 per cent magnetite concentrate. But commissioning delays had forced Karara to again push back a deadline for sustainable production at its target 8 million tonne a year production rate, which will now not occur for at least another two months. Karara costs an estimated $60 million a month to run. It will almost certainly need to call on Ansteel for additional support before it becomes cash-flow positive. Mr Netscher would not be drawn on how much extra cash would be needed to carry Karara through to full production, saying the vagaries of the ramp-up process and difficulties in predicting iron ore prices made it impossible to judge Karara's revenue over coming months. "It's difficult to speculate on any shortfall," he said. "But Ansteel is committed to funding that shortfall, which will be in the form of project loans, which in due course will get converted to bank loans." Delays have already forced its owners to inject more than $200 million in working capital so far this year, the bulk in loans from Ansteel. In June, Gindalbie gave up the right to buy out loans extended to Karara on its behalf by Ansteel and allowed the Chinese steelmaker the right to move to majority ownership of the project by converting some of its debt to equity. Karara is also fighting with a number of its contractors. That includes a $55 million claim from Singapore-listed AusGroup, which claimed in the Supreme Court in June that Karara had been withholding payments since March. Mr Netscher said Karara was still in dispute with about four other contractors but said the figures involved were "significantly lower" than the AusGroup claim. "We've finished a $3.2 billion project," he said. "We have as a result of that - and this is quite normal - about 10 different disputes going with different contractors. About half of those are resolved already - perhaps one will wind up getting resolved in court, the others I'm confident will get resolved out of court. "There's nothing abnormal in that. We've perhaps taken a slightly harder line than others would take - we have insisted on getting performance and where it hasn't happened we've raised a dispute."

 

Peter pan is telling his peter pan story......no one understand la..........

happyharvest      ( Date: 03-Aug-2013 22:16) Posted: So what does this mean? Peter_Pan      ( Date: 03-Aug-2013 12:11) Posted: Cash call for Karara ramp-up Gindalbie Metals says its half-owned Karara project has produced its first premium-grade concentrate, but the magnetite mine could need millions more from China's Ansteel before it is fully operational. Managing director Tim Netscher said yesterday Karara had produced its first 68 per cent magnetite concentrate. But commissioning delays had forced Karara to again push back a deadline for sustainable production at its target 8 million tonne a year production rate, which will now not occur for at least another two months. Karara costs an estimated $60 million a month to run. It will almost certainly need to call on Ansteel for additional support before it becomes cash-flow positive. Mr Netscher would not be drawn on how much extra cash would be needed to carry Karara through to full production, saying the vagaries of the ramp-up process and difficulties in predicting iron ore prices made it impossible to judge Karara's revenue over coming months. "It's difficult to speculate on any shortfall," he said. "But Ansteel is committed to funding that shortfall, which will be in the form of project loans, which in due course will get converted to bank loans." Delays have already forced its owners to inject more than $200 million in working capital so far this year, the bulk in loans from Ansteel. In June, Gindalbie gave up the right to buy out loans extended to Karara on its behalf by Ansteel and allowed the Chinese steelmaker the right to move to majority ownership of the project by converting some of its debt to equity. Karara is also fighting with a number of its contractors. That includes a $55 million claim from Singapore-listed AusGroup, which claimed in the Supreme Court in June that Karara had been withholding payments since March. Mr Netscher said Karara was still in dispute with about four other contractors but said the figures involved were "significantly lower" than the AusGroup claim. "We've finished a $3.2 billion project," he said. "We have as a result of that - and this is quite normal - about 10 different disputes going with different contractors. About half of those are resolved already - perhaps one will wind up getting resolved in court, the others I'm confident will get resolved out of court. "There's nothing abnormal in that. We've perhaps taken a slightly harder line than others would take - we have insisted on getting performance and where it hasn't happened we've raised a dispute."

 

So what does this mean?

Peter_Pan      ( Date: 03-Aug-2013 12:11) Posted: Cash call for Karara ramp-up Gindalbie Metals says its half-owned Karara project has produced its first premium-grade concentrate, but the magnetite mine could need millions more from China's Ansteel before it is fully operational. Managing director Tim Netscher said yesterday Karara had produced its first 68 per cent magnetite concentrate. But commissioning delays had forced Karara to again push back a deadline for sustainable production at its target 8 million tonne a year production rate, which will now not occur for at least another two months. Karara costs an estimated $60 million a month to run. It will almost certainly need to call on Ansteel for additional support before it becomes cash-flow positive. Mr Netscher would not be drawn on how much extra cash would be needed to carry Karara through to full production, saying the vagaries of the ramp-up process and difficulties in predicting iron ore prices made it impossible to judge Karara's revenue over coming months. "It's difficult to speculate on any shortfall," he said. "But Ansteel is committed to funding that shortfall, which will be in the form of project loans, which in due course will get converted to bank loans." Delays have already forced its owners to inject more than $200 million in working capital so far this year, the bulk in loans from Ansteel. In June, Gindalbie gave up the right to buy out loans extended to Karara on its behalf by Ansteel and allowed the Chinese steelmaker the right to move to majority ownership of the project by converting some of its debt to equity. Karara is also fighting with a number of its contractors. That includes a $55 million claim from Singapore-listed AusGroup, which claimed in the Supreme Court in June that Karara had been withholding payments since March. Mr Netscher said Karara was still in dispute with about four other contractors but said the figures involved were "significantly lower" than the AusGroup claim. "We've finished a $3.2 billion project," he said. "We have as a result of that - and this is quite normal - about 10 different disputes going with different contractors. About half of those are resolved already - perhaps one will wind up getting resolved in court, the others I'm confident will get resolved out of court. "There's nothing abnormal in that. We've perhaps taken a slightly harder line than others would take - we have insisted on getting performance and where it hasn't happened we've raised a dispute."

 

Cash call for Karara ramp-up

Gindalbie Metals says its half-owned Karara project has produced its first premium-grade concentrate, but the magnetite mine could need millions more from China's Ansteel before it is fully operational.

Managing director Tim Netscher said yesterday Karara had produced its first 68 per cent magnetite concentrate. But commissioning delays had forced Karara to again push back a deadline for sustainable production at its target 8 million tonne a year production rate, which will now not occur for at least another two months.

Karara costs an estimated $60 million a month to run. It will almost certainly need to call on Ansteel for additional support before it becomes cash-flow positive.

Mr Netscher would not be drawn on how much extra cash would be needed to carry Karara through to full production, saying the vagaries of the ramp-up process and difficulties in predicting iron ore prices made it impossible to judge Karara's revenue over coming months.

"It's difficult to speculate on any shortfall," he said. "But Ansteel is committed to funding that shortfall, which will be in the form of project loans, which in due course will get converted to bank loans."

Delays have already forced its owners to inject more than $200 million in working capital so far this year, the bulk in loans from Ansteel.

In June, Gindalbie gave up the right to buy out loans extended to Karara on its behalf by Ansteel and allowed the Chinese steelmaker the right to move to majority ownership of the project by converting some of its debt to equity.

Karara is also fighting with a number of its contractors. That includes a $55 million claim from Singapore-listed AusGroup, which claimed in the Supreme Court in June that Karara had been withholding payments since March.

Mr Netscher said Karara was still in dispute with about four other contractors but said the figures involved were "significantly lower" than the AusGroup claim.

"We've finished a $3.2 billion project," he said.

"We have as a result of that - and this is quite normal - about 10 different disputes going with different contractors. About half of those are resolved already - perhaps one will wind up getting resolved in court, the others I'm confident will get resolved out of court.

"There's nothing abnormal in that. We've perhaps taken a slightly harder line than others would take - we have insisted on getting performance and where it hasn't happened we've raised a dispute."

 

Certainly hope it will rebound.. For a stock to show so much promise only for it to be wack down.. Pity indeed

 

Reaching OSK-DMG's TP: SGD0.33

Will this latest announcement bring a rebound to Ausgroup's shares? Will shortists run to cover? 5 Aug 2013, zhun zhun 1 month after this analyst's report, trading begins on a new note!

Peter_Pan      ( Date: 05-Jul-2013 16:39) Posted: AusGroup: A Few Little Fish, Where's The Big Tuna? (SELL, SGD0.37,  TP: SGD0.33) Lee Yue Jer (+65 6232 3898, yuejer.lee@sg.oskgroup.com)  Jason Saw (+65 6232 3871, jason.saw@sg.oskgroup.com)  AusGroup announced that it has won an AUD36m contract extension for  a calciner overhaul and maintenance project with Alcoa of Australia for  the next 39 months. While the recent series of small order wins is  encouraging, the orderbook still suffers from a lack of visibility. After  taking the recent plunge in the AUD and 4QFY13F earnings risks into  account, our TP drops further to SGD0.33. Maintain SELL.  Another in a series of small contracts. AusGroup has won a number of  small contracts recently (all under AUD50m) but so far we have not seen the  large (> AUD100m) contracts that will really give the orderbook the necessary  boost to strengthen the outlook. The orderbook now stands at AUD252m, up  from the AUD215m reported at the end of 3QFY13. However, this is still less  than half a year of revenue visibility.  AUD sinks to 4-year low. The AUD has collapsed to a level not seen since  July 2009 (See Figure 1), pressured by weak commodity demand from a  slowing China. This looks like a structural issue, and is unlikely to see a major  reversal in the near term. Investors are buying into weaker earnings  denominated in a weakening currency.  Potential risks to 4QFY13F earnings. The Karara Mining client nonpayment issue is a key concern because AusGroup may have to take  provisions on the receivables. With revenues having slid for four consecutive  quarters, this might be the last straw that breaks the camel’s back, sending  AusGroup into the red for the quarter. In any case, the full-year figure will be a  sharp drop from FY12’s strong AUD23.3m profit, which may catalyse another  retreat in the share price.  Fundamentals eroding. Maintain SELL, with lower SGD0.33 TP. Low  visibility, structural pressures on the functional currency, and a clear risk to  earnings are strong reasons against attempting to bottom-fish at this price.  Technical analysis may also fail given that the prices of the last four years  were all based on a much-stronger AUD. Our TP is lowered to SGD0.33  based on 0.8x P/B (-1SD from its 5-year average See Figure 2). Maintain  SELL.       (OSK-DMG)

 

 

The Supreme Court of Western Australia has today ordered AGC and KML to submit the dispute on a confidential basis to a Court supervised mediation. This follows the recent receipt of a progress payment against an outstanding invoice for AU$13 million and the return of a bank guarantee in the amount of AU$10.9 million. Notwithstanding the legal action, both AGC and KML continue to work through outstanding issues.

AusGroup Managing Director and CEO Laurie Barlow said: " AGC is pleased that KML has agreed to make payment on an outstanding invoice and believe that a successful outcome is achievable."

 

The Company will make the necessary announcements when there are any material updates on the above matter

 

still zero movement... Lousy!

 

Civmec woke up Liao. Shld be AusGroup turn soon

 

Then u never buy? =D

 

DMG say sell, sure must buy

Octavia      ( Date: 12-Jul-2013 10:11) Posted: On its sale and leaseback of it Tuas waterfront property to Boustead Singapore, OSK DMG estimate that Ausgroup could recognize a profit of A$5m for FY14F, but would also incur A$2m in net rental cost over the next 12 years. In other words, the deal boosted the company’s near-term earnings, but at the expense of its long-term profitability. On the OMV of the property, Boustead estimated the value at $44.6m based on income capitalization and DCF, while Ausgroup valued the property at $22.8m based on vacant possession excluding PP& E. The disparity brings about the question as to which figure investors should employ. DMG see Ausgroup's rationale of " realizing the property at a good value" as weak and that the sale reflects a price below the property’s actual fair valuation and a leaseback at high yields. OSK DMG has a SELL rating on Ausgroup and TP of $0.33 Octavia      ( Date: 11-Jul-2013 10:33) Posted: Cld be a sign of cashflow  problem having to sell off facility.  Expectation of  weak earnings??