Efforts on cost improvement: On 11 August 2017, the Board of Australian Agricultural Company Limited

Efforts on cost improvement: On 11 August 2017, the Board of Australian Agricultural Company Limited (ASX: AAC) announced about the resignation of Managing Director and Chief Executive Officer, Jason Strong. The Board has engaged Egon Zehnder to lead an executive search for a new Managing Director, with a plan to fill the appointment before the end of calendar year 2017 and anticipates the search will include both external and internal candidates.    

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Graincorp Ltd.’s On track for strong FY17

On track for strong FY17: Graincorp Ltd.’s (ASX: GNC) stock moved up 5.6% on August 30, 2017 driven by market sentiments. The group had earlier reported an EBITDA of $236 million in the first half of 2017 as compared to $134 million in the prior corresponding period (pcp), and consequently the underlying NPAT rose to $100 million from $32 million of pcp. The group expects to reach their full year EBITDA estimate of $385 million-$425 million and underlying NPAT of $130 million-$160 million. Growing Australian grain harvest and better export volumes, coupled with the group’s network efficiency efforts and managing costs have contributed to the robust result during the period. The group’s average receivals per site increased to 70,000 tons from 40,000 tons of last harvest, driven by a modern and efficient network through Project Regeneration. GNC is also enhancing their sales mix with a better focus on higher margin products. Better canola supply drove their oil supply with lower procurement costs. However, the company has highlighted that continuous pressure on its margins and unfavourable foreign exchange movements have been posing challenges.

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2016 ALL ORDINARIES ASX Mid Cap Stocks ASX100 ASX200 Australian Mid-Cap Dividend Stocks S&P/ASX 200 S&P/ASX 200 Consumer Staples S&P/ASX 300 S&P/ASX All Australian 200 S&P/ASX MIDCAP 50 Uncategorized

3 Food stocks – Graincorp, Australian Agricultural Company and Costa Group Holdings

On track for strong FY17: Graincorp Ltd.’s (ASX: GNC) stock moved up 5.6% on August 30, 2017 driven by market sentiments. The group had earlier reported an EBITDA of $236 million in the first half of 2017 as compared to $134 million in the prior corresponding period (pcp), and consequently the underlying NPAT rose to $100 million from $32 million of pcp. The group expects to reach their full year EBITDA estimate of $385 million-$425 million and underlying NPAT of $130 million-$160 million. Growing Australian grain harvest and better export volumes, coupled with the group’s network efficiency efforts and managing costs have contributed to the robust result during the period. The group’s average receivals per site increased to 70,000 tons from 40,000 tons of last harvest, driven by a modern and efficient network through Project Regeneration. GNC is also enhancing their sales mix with a better focus on higher margin products. Better canola supply drove their oil supply with lower procurement costs. However, the company has highlighted that continuous pressure on its margins and unfavourable foreign exchange movements have been posing challenges.

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2016 ALL ORDINARIES ASX Mid Cap Stocks ASX100 ASX200 Australian Mid-Cap Dividend Stocks S&P/ASX 200 S&P/ASX 200 Consumer Staples S&P/ASX 300 S&P/ASX All Australian 200 S&P/ASX MIDCAP 50 Uncategorized

For FY17, Sandfire Resources NL Boost from commodity price

Boost from commodity price: For FY17, Sandfire Resources NL (ASX: SFR) reported a 62% increase in net profit after tax at $77.5 million (FY16: $48.0 million). As a result, SFR stock moved up 3.5% on August 30, 2017. Strong sales and positive copper price adjustment gains resulted in sales revenue of $532.5 million (FY16: $485.8 million), and payable metal sales totalled 62,663 tonnes of payable copper and 34,333 ounces of payable gold (65,832 tonnes of payable copper and 33,302 ounces of payable gold for FY16). The robust financial result was supported by consistent operational performance, lower costs and a significantly improved copper price, which together allowed the company to retire all its debt and almost double its year-end cash position to $126.7 million. The result equates to earnings per share of 49.16c (FY16: 30.54c). The DeGrussa Copper-Gold Mine posted another strong production performance for FY2017 with copper production of 67,088 tonnes and gold production of 38,623 ounces, at a reduced C1 cash operating cost of US$0.93/lb.   

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Syrah Resources Ltd Mining agreement approved by government of Mozambique

Mining agreement approved by government of Mozambique: Syrah Resources Ltd (ASX: SYR), up over 9% on August 30, 2017, announced that its wholly owned subsidiary, Twigg Exploration and Mining, Limitada (Twigg), holder of the Balama Project, has finalised the negotiation of a Mining Agreement with the Ministry of Mineral Resources and Energy of the Republic of Mozambique. Accordingly, it was approved by the Government of the Republic of Mozambique on 29 August 2017. The Mining Agreement consolidates all prior project documents and approvals. Further, it also provides the Company with clarity around the governing laws and contractualises the mining rights and other obligations for the Balama Project in Mozambique. In accordance with ordinary administrative procedures, the main legal terms of the Mining Agreement will now be gazetted and the Agreement signed by Twigg and the Minister of Mineral Resources and Energy (on behalf of Government of the Republic of Mozambique) in the coming weeks. It will then be presented to the Administrative Court in Mozambique for sanctioning after which it will be binding and enforceable. The Company will announce the key commercial terms of the Mining Agreement once the agreement is signed and becomes binding and enforceable.

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