Daily Roundup

Wednesday, 18th December 2024
Last updated: 20:00

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Austco Healthcare is kicking off the new year with a bang, forecasting impressive growth for the first half of FY25. The company expects revenue to surge by about 59% to $35.8-36.9 million, while EBITDA is set to more than double to $4.5-5.1 million. This stellar performance stems from a combination of organic growth and strategic acquisitions, with recent additions Teknocorp and Amentco contributing significantly to the bottom line.

Meanwhile, Mineral Resources has sealed a lucrative deal with Hancock Prospecting, pocketing a cool $780 million for the sale of two exploration permits. But that's not all – the companies are joining forces in two 50/50 exploration joint ventures, with Hancock also snagging half of MinRes' Explorer drill rig. It's a partnership that could yield exciting results in the Perth and Carnarvon Basins.

In the world of sustainable business, Close the Loop is keeping investors on their toes. The company has extended its exclusivity period with Adamantem Capital, giving the potential buyer more time to dot the i's and cross the t's on a proposed $0.27 per share acquisition. While the deal isn't set in stone, it's certainly one to watch as we head into the new year.

Fenix Resources is expanding its iron ore empire, snapping up two new tenements in the Weld Range. The acquisition includes the historic Beebynganna Hills Iron Ore Project, which has shown promising high-grade deposits in the past. With these additions, Fenix is positioning itself for growth, aiming to boost annual production from 1.3 million tonnes to a whopping 4 million tonnes in 2025.

Lastly, Centrepoint Alliance has wrapped up the earnout period for its acquisition of Financial Advice Matters Group. While the acquired company fell short of its $1.5 million EBIT target, Centrepoint won't be shelling out any additional cash. Instead, they'll be releasing previously reported provisions, resulting in a tidy $1.3 million boost to their pre-tax profit for the first half of 2025.