Andromeda Metals Ltd (ASX: AND), Liquefied Natural Gas Ltd (ASX: LNG) Delta Offshore Energy (DeltaOE) Ink Strategic Deals

Sector Reports > Latest News > ASX > Andromeda Metals Ltd (ASX: AND), Liquefied Natural Gas Ltd (ASX: LNG) Delta Offshore Energy (DeltaOE) Ink Strategic Deals

Sector Reports are pleased to announce our coverage on the below stocks.

For daily updates, news, trade ideas and complimentary research reports please insert your email in one of the options below.

Enter Your Email for Instant Access to the Best Free ASX Research on the Markets

Andromeda Metals Ltd (ASX: AND), Liquefied Natural Gas Ltd (ASX: LNG) and Bellamy’s Australia Limited (ASX:BAL) are on the move on a flurry of positive developments that underscore long-term prospects.

Delta Offshore- Liquefied Natural Gas Vietnam Deal

 Delta Offshore and liquefied are on the spotlight on the announcement of a strategic alliance with Bac Lieu Provincial government in Vietnam. The two have struck an agreement to supply the provincial government with Liquefied natural gas. As part of a 20-year term. Liquefied Natural Gas subsidiary Magnolia LNG LLC is to supply Delta Offshore Energy with up to 2 million tonnes of liquefied natural gas a year.

Pursuant to the agreement, the duo is also tasked with the responsibility of constructing an LNG import terminal as well as a 3,200 megawatt combined cycle power plant. The plant should be up and running by 2023. Delta Offshore is to deliver gas to the power plant to be used to generate electricity that is to be sold to the province.

“Delta Offshore Energy’s Bac Lieu project addresses Vietnam’s need for an LNG import terminal to provide access to growing the LNG industry as a feedstock for electricity generation. Our alliance with LNG Limited will allow the Government of Vietnam to have a stronger relationship with the U.S. market,” said Bobby Quintos, Engineering Managing Director for Delta Offshore Energy.

A deal with Delta Offshore marks an important milestone for the Magnolia LNG Project as the parent company sets sights on commercial and marketing push. The agreements also affirm a strong relationship with Delta Offshore as well as the provincial and Vietnamese leadership.

Enter Your Email for Instant Access to the Best Free ASX Research on the Markets


Andromeda- Evolution Mining Joint Venture

As Delta Offshore and Liquefied natural Gas strengthen their operations in Vietnam, Andromeda on its part is set to lose control of an upcoming gold project. The company’s joint Venture partner Evolution Mining has decided to move forth with Stage 2 of the Drummond Gold Project.

After spending $2 million as part of stage 1 exploration activities, Evolution Mining can now proceed into Stage 2, where it is poised to spend $4 million. Conversely, the company will be entitled to 80% of the upcoming gold project with Andromeda stakes in the project diminishing to 20%. As Andromeda sees its stakes in the gold project diminish to 20%, it is entitled to $200,000 in cash payment within 10-business day’s notification of the Stage 2 election.

Enter Your Email for Instant Access to the Best Free ASX Research on the Markets


Bellamy’s Australia Limited-China Mengniu Merger

Bellamy Australia is the subject of investor attention on Chinese company, China Mengniu Dairy Company, tabling a $1.5 billion takeover bid. If approved shareholders will receive a total of $13.25 per share. The takeover price is made up of $12.65 for each share held and an additional $0.60 as special dividend per share.

The share price offer represents a 59% premium to Bellamy’s closing price as of 13 September 2019. The Board of Directors has approved the takeover bid, which the chair John Ho says underscores the company’s strong brand.

The takeover comes hot on the heels of Bellamy Australia, reporting disappointing quarterly results as annual profit almost halved. Sales were down by 19% as the company felt the full force of China’s crackdown on imports. The infant formula maker has seen its prospects turn sour in the wake of new Chinese customs rules for e-commerce.

Enter Your Email for Instant Access to the Best Free ASX Research on the Markets

Leave a Reply

Your email address will not be published.