This week's Bulls N' Bears Runner of the Week is … Wellard Limited. The company is quitting the livestock transport business and spiked on news it has sold a ship for US$50 million. Condor Energy increased its gas resource by 147 per cent, Western Gold Resources revealed a preferred contractor for its Gold Duke operation and Terrain Minerals kicked-off drilling at its Lort River nickel-copper project.
Fremantle-based livestock vessel operator Wellard will sell its last remaining ship and consider delisting from the ASX, in a $80m windfall for shareholders.
This week's Bulls N' Bears Runner of the Week is … Infini Resources. Its share price jumped nearly 226 per cent on the back of a slew of lab-busting soil-sampling uranium results that showed grades so high that they have been dispatched back to the lab for another round of analysis. Other movers and shakers this week were Waratah Minerals, AML3D and Wellard.
Wellard shares closed up 118 per cent on Monday, following news that it will sell its oldest livestock vessel, the M/V Ocean Ute, to Bassem Dabbah for $US12 million, or $18.1 million.
Shares in Fremantle-based agribusiness Wellard were up as much as 37 per cent on news it could receive up to $16.5 million following a three-year contract dispute.
Financially strapped live exporter Wellard is cutting its fleet size from four to three with the sale of the world's largest purpose-built livestock carrier for $US53 million ($A77 million).
Wellard's full-year loss has widened by 33 per cent to $48.4 million after the cattle exporter was hit by Turkey's halt on live feeder imports and large impairments.
Our daily board moves wrap includes Michael Pivac, Aidan Flynn, Simon Amos, Sally-Anne Layman, Mark Le Messurier, Michael Ball, Tanugula Rao, Geoffrey Clifford, Joe Graziano, and Mauro Balzarini.
Wellard has sold its Wongan Hills feed mill, and Baldivis Pre-Export Quarantine lease in Western Australia, as well as its Condah Pre-Export Quarantine facility in Victoria, to Ausvision Rural Services.
Wellard has posted a $2.9 million profit for the six months to December, up from a $7.4 million loss in the previous corresponding period, and its first profit since listing on the ASX over three years ago.
Wellard shareholders have given the cattle exporter's remuneration report a strike for the second time in three years at today's annual meeting in Fremantle.
SPECIAL REPORT: The state's agriculture sector has been ruffled by falling exports and revenues, coupled with growing animal welfare concerns and international competition.
John Klepec, current chair of Wellard, has been appointed interim executive chair and will take over the management of the company's day-to-day operations.
Livestock exporter Wellard has appointed current chairman John Klepec as interim executive chairman, after executive director of operations Fred Troncone resigned.
Mark Connelly has resigned as non-executive director at Ausdrill. Mr Connelly has held various senior management positions for other resource companies including Adamus Resources and New
An animal welfare group has been granted access to Fremantle harbour to observe livestock loading in a move that has been criticized by industry groups.
Federal Labor has effectively committed to end live sheep exports with its agriculture spokesman, Joel Fitzgibbon, telling an Adelaide radio station the party does not believe there is a future for the sector.
SPECIAL REPORT: Western Australia's five biggest agribusinesses are earning about $5.5 billion in revenue annually, according to the latest BNiQ Search Engine data, down from $5.8 billion when the list was last published 18 months ago.
Automotive Holdings Group has selected current director Rob McEniry to replace outgoing chairman David Griffiths, while England-based Sebstian Coe will become a non-executive director at Fortescue Metals Group.
Improved margins on live cattle voyages have helped agribusiness Wellard reduce its net loss after tax for the first half of the financial year to $7.5 million, nearly 60 per cent lower than the previous corresponding period.
A Cottesloe-based agribusiness is hoping to improve operational productivity by increasing its use of data across the life cycle of its livestock and in its supply chain management.
Local agribusiness Wellard has promoted non-executive director Fred Troncone to an executive position on the board, as its founder and chief executive committed to remaining with the company until at least the end of the year.
Profit at pastoral and winery business Heytesbury Holdings fell more than 57 per cent in the year to December 2016, to $11.7 million, on the back of lower revenue.
Live cattle exporter Wellard has announced the sale of one of its mid-sized ships to Israeli company Dabbah Slaughterhouse for $US26 million ($A35 million).
Fremantle-based livestock exporter Wellard has appointed Chinese businessman Kanda Lu as an executive director in an effort to boost the company's expansion into China's beef cattle market.
The major shareholders in Wellard, including China's Fulida Group Holdings and local agribusiness Heytesbury, are expected to lift their stake in the livestock exporter after a big shortfall from its rights issue.
Loss-making livestock exporter Wellard is undertaking a share placement and entitlement offer as part of a $52 million capital raising it hopes will allow it to exploit a predicted improvement in trading conditions.
Fortescue Metals Group has risen into the ranks of the top 50 most valuable companies on the Australian share market thanks to soaring iron ore prices which have nearly quadrupled the miner's half-year profit and stoked investor demand.
A Hong Kong-based company has joined the share register of live export business Wellard International just days after Holmes a Court family entity Heytesbury Holdings took a stake.
The investment vehicle of Pakistani meat producer Tariq Butt has sold its remaining 9.5 per cent stake in Wellard to private company Heytesbury, at a premium to the listed agribusiness's recent trading price.
