Search

In Brief: Wavenet joins coal rush

FORMER technology company, Wavenet International Ltd, has joined the rush by local investors seeking to exploit booming coal prices, agreeing to buy a stake in four coal tenements in Queensland. The company has entered into an agreement to acquire a 50 per cent interest in the projects, which consist of one granted exploration permit and four applications. The most advanced tenement is the Monto project, located south of Macarthur Coal Ltd’s Monto thermal coal project, a joint venture with Hong Kong-based commodity trading house Noble Group. Wavenet will equally own and jointly explore the tenements with Terence Byrt and his company, Ansett Resources and Industries Pty Ltd. Wavenet will pay a $3 million purchase consideration fee and chip in $1 million to exploration costs. The expenses will be funded from Wavenet’s existing cash reserves, which, along with liquid assets, is currently at $4 million. The purchase is subject to shareholder approval.

Login

(existing subscribers)

The password field is case sensitive.
Request new password

Add your comment

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/01/18

1 year TSR5 year TSR
3rdAusCann Holdings13483%218%
545thHazer Group-15%0%
692ndWavenet International-40%-45%
804thAurora Labs-73%0%
709 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

13/03/15
$382k Issued
24/08/12
$19k Bought
25/07/12
$240 Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

169th↑Hazer Group$281k
170th↑AusCann Holdings$260k
171st↓Wavenet International$239k
172nd↑Aurora Labs$238k
173rd↓NetLinkz$226k
234 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Wavenet International

347thMick Stroud$371k
1614thGregg Freemantle$7k
1631stStuart Becker$2k
Ranked by total remuneration from all listed WA companies

BNiQ Disclaimer