Healthscope Ltd Sale of standalone medical centres operations

Sale of standalone medical centres operations: Healthscope Ltd (ASX: HSO) has entered into an agreement to sell its standalone medical centres operations for A$55 million to Fullerton Primary Care Pty Ltd (subsidiary of Fullerton Australia). The transaction is expected to be complete by the end of September 2017. Healthscope’s standalone medical centres operations consist of 43 medical centres, four specialist skin clinics and one specialist breast diagnostic clinic located across Victoria, New South Wales, the Australian Capital Territory, Queensland and Western Australia. In the first half of FY17, the standalone medical centres operations contributed approximately 2% of Group Operating EBITDA. Further, HSO expects to book a non-cash impairment loss of $54.7 million in relation to the sale to be recorded in the FY17 financial results. Divestment of the Medical Centres operations is part of its strategic review and it will allow the company to focus on core hospitals and international pathology operations. As part of the transaction, all existing medical centres employees will be offered continued employment with the business going forward.

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What is the latest with these 2 healthcare stocks – Healthscope and Primary Health Care

Sale of standalone medical centres operations: Healthscope Ltd (ASX: HSO) has entered into an agreement to sell its standalone medical centres operations for A$55 million to Fullerton Primary Care Pty Ltd (subsidiary of Fullerton Australia). The transaction is expected to be complete by the end of September 2017. Healthscope’s standalone medical centres operations consist of 43 medical centres, four specialist skin clinics and one specialist breast diagnostic clinic located across Victoria, New South Wales, the Australian Capital Territory, Queensland and Western Australia. In the first half of FY17, the standalone medical centres operations contributed approximately 2% of Group Operating EBITDA. Further, HSO expects to book a non-cash impairment loss of $54.7 million in relation to the sale to be recorded in the FY17 financial results. Divestment of the Medical Centres operations is part of its strategic review and it will allow the company to focus on core hospitals and international pathology operations. As part of the transaction, all existing medical centres employees will be offered continued employment with the business going forward.

 

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Total zircon/rutile/synthetic rutile Quarterly production update

Quarterly production update: Total zircon/rutile/synthetic rutile (Z/R/SR) production in the second quarter was 221 thousand tons inclusive of Sierra Rutile, with 177 thousand tonnes from Iluka’s Australian and US operations. The Tutunup South mine in south-west Western Australia continued to be Iluka’s only Australian mine in operation. During the quarter, 160 thousand tons of heavy mineral concentrate (HMC) was produced and 348 thousand tons processed globally. This reflected the continued draw down of HMC from the Jacinth- Ambrosia mine (currently idle) and the Woornack, Rownack, and Pirro mine (mining completed 2015). The company has announced in June the planned restart of mining at Jacinth-Ambrosia from December 2017, following the substantial draw down of HMC inventory. 

 

 

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2 Growth companies in the resources sector – Iluka Resources Ltd and Altura Mining Ltd.

Quarterly production update: Total zircon/rutile/synthetic rutile (Z/R/SR) production in the second quarter was 221 thousand tons inclusive of Sierra Rutile, with 177 thousand tonnes from Iluka’s Australian and US operations. The Tutunup South mine in south-west Western Australia continued to be Iluka’s only Australian mine in operation. During the quarter, 160 thousand tons of heavy mineral concentrate (HMC) was produced and 348 thousand tons processed globally. This reflected the continued draw down of HMC from the Jacinth- Ambrosia mine (currently idle) and the Woornack, Rownack, and Pirro mine (mining completed 2015). The company has announced in June the planned restart of mining at Jacinth-Ambrosia from December 2017, following the substantial draw down of HMC inventory.   

 

 

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Newcrest Mining remains confident about Cadia

Gold production in the June 2017 quarter stood at 7.8% lower than the prior quarter driven by a decrease in production from Cadia, following the seismic event on 14 April 2017, while production from Lihir increased significantly, achieving record quarterly gold production of 276koz due to a record mill throughput rate result of 14.5mtpa. Production at Telfer was also higher than the prior quarter following the rainfall events experienced in the March 2017 quarter. The Group AISC per ounce for the June quarter of $902 per ounce, after normalization for the Cadia seismic event, was 26.5% higher than the prior quarter. This was driven by higher AISC at Cadia, Gosowong and Bonikro, partially offset by lower AISC at Lihir and Telfer. The reported Group AISC for the full year has been normalized (i.e. reduced) by $28 per ounce for the seismic event at Cadia, in line with World Gold Council guidelines.   

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Origin Energy Limited Reducing debt and improving returns

Reducing debt and improving returns: Recently, Origin Energy Limited (Origin) had entered into an agreement with Jemena Gas Pipelines Holdings Pty Ltd (Jemena) for the sale of Darling Downs Pipeline Network for $392 million. The transaction lifts sales from Origin’s asset divestment program announced in September 2015 to $1 billion, considerably higher than the original $800 million target and the net proceeds of which will be used to reduce debt.The company continues to make timely progress on the divestment of Origin’s conventional upstream business, Lattice Energy, during calendar 2017.   

 

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