KiwiRail, the state-owned railway company, posted a 7.6 percent gain in first half operating earnings as it benefited from a pickup in freight revenue and a continued drive to cut costs. The operating surplus was $46.9 million in the six months ended Dec. 31, from $42.6 million a year earlier, the Wellington-based company said in a statement. Operating revenue rose …

New Zealand Oil & Gas has asked to be placed in a trading halt for around four hours on both the New Zealand and Australian stock exchanges, pending “a material announcement regarding how NZOF progresses with a material asset.” The company is making no further comment. However, information on the company’s website suggests the announcement is likely to be regarding …

MOD Resources, the ASX-listed gold, copper and silver explorer with permits in the South Island’s Golden Bay region, has raised A$2.5 million in a placement to Hong Kong-based Meriton Capital. The placement was for 50 million MOD shares at 5 Australian cents apiece, compared to their last trading price on the ASX of 4.8 cents. Meriton now owns 9.6 percent …