FINWIRES · TerminalLIVE
FINWIRES

Saturn Metals Secures Native Title Mining Agreement for Western Australia Project

By

Saturn Metals (ASX:STN) secured a native title mining agreement with the Wangkatja Tjungula Aboriginal Corporation RNTBC for the development of the Apollo Hill project in Western Australia, according to a Friday filing with the Australian bourse.

Wangkatja Tjungula Aboriginal Corporation is the Registered Native Title Body Corporate for the Nyalpa Pirniku Native Title Holders, recognized as holding the native title rights and interests on the land on which the project is located, the filing said.

The agreement supports the grant of Apollo Hill mining lease 31/496, and other future tenements, and paves the way for completion of permitting for the project, per the filing.

Shares fell 1% in morning trade on Friday.

Related Articles

Asia

Hon Hai's Profit Rises 19% in Q1 on Strong AI Demand

Hon Hai Precision Industry (TPE:2317), also known as Foxconn, reported a 19% annual growth in net profit for the first quarter to NT$49.9 billion, supported by strong demand for artificial intelligence products, according to a Thursday press release.Shares gained over 2% in Friday's late morning trade.Earnings per share rose to NT$3.56 from NT$3.03 a year earlier.The Taiwanese electronics manufacturer's operating profit surged 63% year-on-year to NT$75.6 billion, while revenue climbed 29% to a record NT$2.12 trillion.Gross profit margin improved to 6.18% from 6.11% a year ago, while operating profit margin rose to 3.57% from 2.83%.Foxconn said its cloud and networking business, driven by AI server demand, now contributes nearly half of total revenue, helping reduce the seasonal impact typically seen in the ICT sector.The company expects strong AI demand to continue lifting second-quarter performance, forecasting significant quarter-on-quarter growth and strong year-on-year expansion despite the industry's traditional slow season.Foxconn maintained its full-year outlook for strong growth and said capital expenditure is expected to rise more than 30% this year as it expands manufacturing capacity, automation and AI-related investments.

$TPE:2317
Asia

Metaspacex's Controlling Shareholder Share Sale Deal Terminated; Shares Up 12%

Metaspacex (HKG:1796) said a proposed sale of a controlling stake by China Sports Asset Management to Shenzhen Haoyi Investment was terminated after certain conditions were unlikely to be fulfilled before the June 30 long-stop date, according to a Thursday Hong Kong bourse filing.Shares of the fitting-out services firm were up over 12% in late morning trade on Friday.China Sports had agreed to sell 255.9 million shares to Shenzhen Haoyi for HK$64 million under an agreement signed April 14.The proposed sale followed the disposal of 102.3 million Metaspacex shares held by China Sports by lender Tse's Finance between April 2 and April 9 under a lending arrangement.Metaspacex said completion required China Sports to repay liabilities owed to Tse's Finance and release the charges over the sale shares.The company said Shenzhen Haoyi informed China Sports that the condition was unlikely to be fulfilled and would not be waived, leading both parties to terminate the agreement.

$HKG:1796
Asia

Youngone Holdings to Retire KRW111.81 Billion in Treasury Shares

Youngone Holdings (KRX:009970) announced on Friday that it will retire 545,420 treasury shares, valued at 111.81 billion won.The shares will be retired on May 20 at a par value of 500 won apiece, according to a Friday filing from the apparel manufacturer on the Korea Exchange.

$KRX:009970