PMM portman limited

not so popular now

  1. 7,397 Posts.
    Change in substantial holding from ANZ

    PORTMAN LIMITED 2003-03-26 ASX-SIGNAL-G
    PMM


    Keep your eye on this one ,progress is held up by a little weed that only grows in iron rich soil ,

    maybe tissue culture and grow it elsewhere??

    p.s The chart says wait for a pullback _______________________________________________

    HOMEX - Perth

    +++++++++++++++++++++++++
    Australia and New Zealand Banking Group Limited (ANZ) increased its
    relevant interest in Portman Limited on 04/02/2003, from 8,779,318
    ordinary shares (5.08%) to 14,485,241 ordinary shares (8.37%).

    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++


    Becoming a substantial holder from ANZ

    PORTMAN LIMITED 2003-03-26 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Australia and New Zealand Banking Group Limited became a substantial
    shareholder in Portman Limited on 20/08/2002 with a relevant interest
    in the issued share capital of 8,779,318 ordinary fully paid shares
    (5.08%).


    +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++


    Company Announcement


    Preliminary Final Report

    PORTMAN LIMITED 2003-03-10 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    ATTACHMENT 1 TO APPENDIX 4B

    Portman Limited

    Preliminary Final Report 31 December 2002

    Segment Information

    2002
    IRON ORE SILICON CORPORATE CONSOL-
    & NET IDATED
    INTEREST
    $

    REVENUE

    Sales to customers
    outside the
    consolidated entity 128,519 274 0 128,793

    Other revenues from
    customers outside
    the consolidated
    entity 3,054 0 3,436 6,490

    Intersegment
    revenues 0 0 0 0

    Share of net profit
    of equity 0 0 0 0

    accounted investments 0 0 0 0

    Total Segment Revenue 131,573 274 3,436 135,283

    RESULT

    Segment result 24,547 (15,590) (3,135) 5,822

    Unallocated expenses

    Consolidated entity profit
    from ordinary activities
    before income tax expense 24,547 (15,590) (3,135) 5,822

    Income tax expense (6,459)

    Consolidated entity profit
    from ordinary activities after
    income tax expense (637)


    ASSETS

    Segment assets 122,768 230 71,211 194,209
    Unallocated assets

    Total assets 122,768 230 71,211 194,209

    LIABILITLES

    Segment liabilities 46,462 624 6,846 53,932
    Unallocated assets

    Total liabilities 46,462 624 6,846 53,932


    OTHER SEGMENT INFORMATION

    Acquisition of PPE,
    intangible
    assets & other
    nca

    Depreciation 2,782 0 91 2,873
    Amortisation 2,383 2,383

    Segment Total 5,165 0 91 5,256


    ATTACHMENT 2 TO THE APPENDIX 4B

    Inherent Uncertainty Regarding Carrying Value of Assets due to the
    Approval to Access and Mine the Northern Tenements

    On 6 December 2002, the company received notification from the
    Environmental Protection Authority ("EPA") that they had recommended
    to the Minister the following in connection with Portman's
    application to expand the existing Koolyanobbing iron ore mine by
    commencing new mining at Windarling Range and Mount Jackson ("the
    Northern Tenements") and linking the new mine sites to Koolyanobbing
    by a haul road or railway:

    (i) That there should be no mining at Windarling Range unless,
    through an appropriate and comprehensive research program, it can be
    demonstrated that other measures can be adopted to ensure protection
    of Tetratheca paynterae and the vegetation communities in the wild.

    (ii) That mining, as proposed at Mount Jackson, could take place
    provided conditions were introduced pursuant to the Environmental
    Protection Act 1986 to ensure "best practice" in environmental
    outcomes, including protecting biodiversity values.

    The EPA recommendations, together with appeals from a number of
    parties are currently being considered by the Minister for the
    Environment as part of the process in determining whether Portman
    should be granted access to mine the Northern Tenements.

    At the date of signing this Appendix 4B the Ministerial decision on
    whether Portman will be granted access to mine the Northern tenements
    in accordance with the proposed mining plan has not been made.
    Accordingly, the recoverability of the assets capitalised in
    connection with and incidental to Portman mining the Northern
    Tenements is uncertain.

    Should Portman not be granted access to mine the Northern Tenements
    in accordance with the proposed mining plan the economic entity will
    be required to write off some or all of the assets capitalised in
    connection with and incidental to Portman mining the Northern
    Tenements and the Koolyanobbing project. The amount of write off is
    currently being determined and will be included in the Annual Report.



 
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