Ampol Total to Build $800 Million Lucas Heights Refinery
Ampol Petroleum and Total Oil plan an $800 million refinery at Lucas Heights, 20 miles south of Sydney, with a 50 percent equity share for Ampol. The project aims to start within three years, targeting a minimum 50,000 barrels per day output and boosting NSW petroleum supply. The state government will provide no direct funding. Local MP Rex Jackson criticized the plan as harmful to ordinary people, while authorities assured minimal local pollution impact.
MENTIONED IN THIS ARTICLE
Ampol Petroleum Ltd
The
Total Oil Company
Lucas Heights
Sydney
Botany Bay
Nsw
Fuller
Heathcote
Wenal
Harris
Australia
Kuroell
Kwinana
Western Australia
Ampol
Equity
Joan
Great Boulder lifts profit amid nickel surge
Great Boulder Mines Ltd WA nickel miner lifted half year profit 77.5 percent from 298 314 to 529 493 as nickel concentrate sales rose 379 percent from Scotia Mine near Kalgoorlie. Directors cite higher ore head grade better mine prediction and nickel price. currency revaluations damped Australian dollar revenue and US dollar devaluation also trimmed proceeds. They urge currency reductions to aid exporters.
MENTIONED IN THIS ARTICLE
Great Boulder Mines Ltd
Scotia
Kalgoorlie
Australia
Jennings to raise 10.2 million for expansion
A. V. Jennings Industries (Australia) Ltd, a leading home builder, will raise 10.2 million for expansion. It offers shareholders one convertible note per 10 shares on May 7, with notes at 4.30 dollars each, convertible 1 for 1 into ordinary shares. Underwritten by Ian Potter and Co and Ord-BT Co Ltd. Additional 4.235 million will be raised via 1.1 million ordinary shares at 3.85 to local institutions.
MENTIONED IN THIS ARTICLE
A. V. Jennings Industries (Australia) Ltd
Ian Potter and Co
Ord- BT Co Ltd
Sydney
Jennings
David Jones Sales Rise Despite Profit Pressure
David Jones Ltd reports a strong 13.37 percent sales rise for the seven months to February 28, with consolidated net trading profit up 7.78 percent but margins still tight. Interim results show net trading profit increasing from 3,974,000 to 4,283,000 alongside a 612,000 abnormal gain from exchange on a Euro-dollar loan repayment. Interim dividends remain unchanged at 7.4 percent ordinary, 2.4 percent redeemable, and 3.9 percent second preference, with no dividend change to the first preference.
MENTIONED IN THIS ARTICLE
David Jones Ltd
Wih
Orddinary
Kaiser Steel to Sell 15 Million Hamersley Shares in Axis Deal
Kaiser Steel Corp of Oakland announced an in principle sale of 15 million Hamersley Holdings Ltd shares at 3.90 dollars each. The transaction, subject to conditions, would be to two Japanese trading firms and six Japanese steel mills, raising about 558.5 million dollars.
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Kaiser Steel Corporation
Oakland
California
Hamersley Holdings Ltd
Travelodge Australia profits fall 33 in half year
Travelodge Australia Ltd reports a 33 percent drop in consolidated net profit for the six months to December 31, despite a 2 percent revenue gain to 39.4 million. Extraordinary currency realignments added 168,000 to income, not in profit. Most revenue came from the building subsidiary while motel operations were slightly up. The directors expect the full year to equal last year and defer final dividend until year results are available.
MENTIONED IN THIS ARTICLE
Travelodge Australia Ltd
Australia
Com
Big Lake Gas Flows From Santos Drill Tests
Santos Ltd reported drill stem tests in Big Lake No 6 well showing gas flow from 7.634 to 7.750 feet at 8.55 million cu ft per day through a 7/16 inch choke. A second test from 4.13 to 8.348 feet in the epsilon formation flowed 8.1 million cu ft daily via a 27/16 inch choke.
Assurance record for Friends Provident and Century Life Office Australia
The Friends Provident and Century Life Office reported record new business in Australia for the year ending December 31, 1972. New sums assured totaled 50,700,000 dollars, up 20 percent from 1971, with total new business production including term assurance at 113,415.00 dollars and new business premium income reaching 1,530,000 dollars.
MENTIONED IN THIS ARTICLE
Friends’ Provident
Century Life Office
Australia
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