-- Minerals 260 (ASX:MI6) reported about AU$250 million in cash and term deposits at March 31, according to a Tuesday Australian bourse filing.
The company said its pre-feasibility study and maiden ore reserve for the Bullabulling gold project remain on track for release in July, with seven drill rigs currently on site, and a mineral resource estimate update planned for release in August.
The company's shares fell 1% in recent Tuesday trade.
China Hongqiao Group (HKG:1378) plans to raise 10.2 billion yuan via an offshore convertible bond issue, according to a Hong Kong bourse filing Tuesday.The zero-coupon bonds will convert into shares of the company at an initial rate of HK$43.90 per share, representing a premium of about 25.3% to the company's closing price on Monday.Assuming full conversion, the shares to be issued would amount to 266.6 million and represent 2.7% of the company's existing share capital and 2.6% on an enlarged basis.Proceeds to be raised will be used for refinancing existing debt and the purchase of raw materials.The firm simultaneously plans to purchase 11.3 million shares in a concurrent share buyback at HK$33.99 apiece.
The ANZ-Roy Morgan Australian consumer confidence rose 3.5 points to 67.8 in the week of April 20 to April 26, ANZ reported Tuesday.The four-week moving average rose 2.3 points to 64.7 points.Australian consumer confidence improved in the reported week, reaching its highest level since mid-March, with gains across all sub-indices led by stronger views on economic conditions, although it remains near historic lows, according to ANZ economist Sophia Angala.Headline inflation is forecast to have risen 1.4% quarter-on-quarter, partly due to higher fuel prices in March, and the Reserve Bank of Australia is still expected to lift the cash rate by 25 basis points at its May meeting, Angala added.Weekly inflation expectations fell to 6.6% from 7.1%, while the current financial condition indicator for 12 months rose 4.6 points to 63. The future financial conditions for the next 12 months inched up to 75.4 points from 75.3.Short-term economic confidence for the next year rose 4.7 points to 56, while medium-term economic confidence for the next five years increased to 78.3 points from 72.9.The "time to buy a major household item" subcategory rose 2.4 points to 66.1.
Dalipal (HKG:1921) plans to raise about HK$385.2 million in net proceeds through a share placing and top-up subscription, according to a Tuesday Hong Kong bourse filing.Controlling shareholder Rosy Astral Limited will place up to 74.3 million shares at HK$5.28 each to not fewer than six investors on a best-efforts basis.Rosy Astral is 80.6% owned by Dalipal Chairman Meng Fanyong and 19.4% by his son YX Meng, an executive director of the company.The placing represents about 4.93% of the company's existing issued share capital.Dalipal will issue the same number of new shares to the seller under a top-up subscription at the same price.Net proceeds will be used for general working capital and corporate purposes.Shares of the smart and green manufacturing firm were down over 7% in Tuesday morning trade.