Iluka Resources Limited

ILU Details

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. First half zircon/rutile/synthetic rutile (Z/R/SR) production volumes were 36% (119 thousand tons) higher than the same period in 2016 at 453 thousand tons. Sierra Rutile contributed 82 thousand tons of Z/R production in the first half of 2017. Given the ongoing mining developments, we give a “Hold” recommendation at the current market price of $9.11


ILU Daily chart; (Source: Thomson Reuters) 

Flight Centre Travel Group Ltd

FLT Details

THE Flight Centre Travel Group (FLT) has strengthened its North America presence, which is set to report strong profit and sales for the 2017 fiscal year has further bolstered its Americas division by acquiring leading Quebec City based travel company Les Voyages Laurier du Vallon (LDV). LDV generates about $C100million in total transaction value (TTV) and about $C9.4million in revenue from its network of leisure, corporate and Meetings, Incentives, Conferences and Events (MICE) businesses. The acquisition will significantly strengthen FLT's presence in Quebec, which is Canada's second largest province and a market where FLT was previously under-represented, partly as a result of challenges posed by complying with local guidelines relating to use of the French language. The Olympus acquisition, which was announced on July 7, also formally completed today and has strengthened FLT's rapidly expanding in-destination travel experiences network.  We maintain a “Hold” recommendation at the current market price of $45.94
 

FLT Daily chart; (Source: Thomson Reuters)

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