FINWIRES · TerminalLIVE
FINWIRES

Rox Resources Secures Additional Fuel Capacity at Western Australia Gold Project

By

Rox Resources (ASX:RXL) said additional fuel storage capacity at its Youanmi gold project in Western Australia has been secured, increasing to over 430,000 liters in mid-April from 190,000 liters in March, and an additional fuel supply contract has been entered into, in the wake of the conflict in the Middle East, according to a Friday Australian bourse filing.

Fuel saving initiatives were identified, which will be implemented should there be any impact on fuel supply, it added.

Underground development rates at the United North pit at the project are on schedule, with around 726 meters of advance completed in the quarter to March 31, bringing the total advance to 1,013 meters.

Related Articles

Asia

Yageo's Profit Soars 45% in Q1

Yageo's (TPE:2327) net profit attributable to the parent jumped 44.7% year on year to NT$8.0 billion, or NT$3.90 per share, for the first quarter, according to a Wednesday Taiwan Exchange filing.Revenue for the period also increased 22.7% to NT$38.2 billion.Margins improved during the quarter, with gross margin at 38.1% and operating margin at 25.2%, both higher on a quarterly and annual basis.The electronic component manufacturer attributed growth to continued momentum in AI-related demand and steady gains across standard and specialty products.Yageo said it remains cautious amid geopolitical uncertainties, adding it will monitor tariffs, exchange rates and rising raw material costs in future.

TPE:2327
Asia

China Gas Industry Investment to Transfer Loans Worth 118 Million Yuan to Controlling Shareholder

China Gas Industry Investment (HKG:1940) agreed to assign three loans totaling 118 million yuan to its controlling shareholder, according to a Wednesday Hong Kong bourse filing.Shares of the gas company were down nearly 2% in late-morning trade on Thursday.The loans, along with accrued interest, will be transferred to Tangde Gas for a consideration equal to the outstanding principal.The receivables, extended in 2020, have been overdue since maturity and were fully provided for in the company's accounts.The transaction will generate cash proceeds and support the group's financial position, with net proceeds to be used for general working capital.

HKG:1940
Asia

Virgin Australia Remains in Strong Financial, Strategic Position Due to Conservative Approach to Fuel Hedging, Jarden Says

Virgin Australia Holdings (ASX:VGN) remains in a strong financial and strategic position due to its conservative approach to fuel hedging over fiscal 2026, Jarden said in a note on Wednesday.The airline flagged an increase of fuel costs for the fiscal 2026 second half of around AU$30 million to AU$40 million. Revenue-per-available-seat-kilometer growth is expected to be around 5% in the second half, and 6% in the fourth quarter of fiscal 2026, compared with previous second half guidance of 3% to 4%. Total domestic capacity is now expected to increase 1% in the second half and fall 1% in the fourth quarter.Jarden forecast a higher fuel cost burden in fiscal 2027 than fiscal 2026, especially the first half of fiscal 2027. It modeled a net earnings before interest and taxes (EBIT) impact, after revenue management, of around AU$14 million per quarter in fiscal 2027 from fuel costs exceeding revenue capture.It lowered its fiscal 2026 EBIT forecasts to AU$751 million, and its fiscal 2027 group EBIT forecast to AU$790 million from AU$817 million.The investment firm retained its buy rating on Virgin Australia and reduced the price target to AU$3.80 from AU$4.Virgin Australia's shares soared almost 5% in recent Thursday trade.

ASX:VGN