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ASX Market Wrap - 17th May 2013
Australian shares rose on Friday as firms exposed to the US market benefited from further weakness in the Australian dollar, while big-cap miners like BHP Billiton rebounded on short-covering.
The S&P/ASX 200 index closed up 15.1 points at 5,180.8. The index fell 0.5 percent on Thursday, and posted a similar loss for the week.
Resources came under pressure as the price of gold sank for the sixth straight session, but the miners clawed back some gains today.
The Australian dollar continued to decline below parity with the US dollar and again hit fresh 11-month lows.
The S&P/ASX 200 index added 15 points today, narrowing the weekly loss of 25 points to end the week at 5,181.
The value of trades was $4.7 billion on volume of 829 million shares at the close of trade.
On the futures market the SPI is 10 points higher.
In company Wesfarmers Limited’s chief has warned investors to expect disappointing earnings from Target this year. The conglomerate’s retailing brand has flagged an annual earnings drop of up to 43 per cent following a late start to the winter season, excess inventory and higher costs. Shares in Wesfarmers fell 2.87 per cent today, ending the week at $42.93.
WorleyParsons Limited has cut its annual earnings guidance on the back of weakening demand for resource infrastructure in Western Australia. The mining services contractor now expects its full year net profit to slide from $353 million to between $320 and $340 million this year. Shares in WorleyParsons sank 12.52 per cent today, finishing the week at $19.50.
Shares in Aquila Resources Limited rose 2.8 per cent after receiving federal environmental approval for its proposed development of the Anketell Port. The coal mining company has a 50 per cent stake in the port which is intended to facilitate its iron ore ambitions in Western Australia's Pilbara region.
Shares in SP AusNet gained 1.6 per cent after the world’s biggest utilities company bought a stake in the Australian electricity distributor for a reported $3.2 billion. China's State Grid Corporation has acquired a 19.9 per cent interest from Singapore Power International, who will remain SP AusNet’s largest shareholder with a 31.1 per cent holding.
Virgin Australia Holdings Limited rose 10.53 per cent to close at $0.42 following yesterday steep fall and this week’s profit downgrade.
Gold is trading at $US1,383 an ounce, down $75.60 over the week.
Light crude is $0.09 higher at $US95.25 a barrel.
The Australian dollar is buying 97.48 US cents, down $0.031 over the week.
Morning Market Mood: May 17th, 2013
Australian shares are likely to have a subdued opening today after the winning streak on Wall Street came to a slight halt last night and the AUD faced further volatility in the offshore market. On the ASX this morning, the SPI 20 futures contract was trading 3 points higher, or less than 0.1%, at 5, 177 while the AUD was buying 98.33 US cents after dipping into the 97’s during trading hours.
In the US, stocks fell after a disappointing earnings report from retail heavyweight Walmart added salt to wound following some poor economic data and concerning speculation. Claims for jobless benefits jumped by 32,000 last week, a figure greater than what economists predicted. Additional plunges in housing starts and manufacturing in Philadelphia also played a role in the downturn in the market. The S&P 500 dropped 0.53% to sit at 1,650 after Federal Bank Reserve of San Francisco John Williams discussed cutbacks in bond buying and stimulus measures within the nation. The Dow fell 43 points, or 0.28%, to settle at 15, 223 after a mixed night in commodities and a decline from Walmart on the back of a poor earnings report. The Nasdaq surrendered 7 points, or 0.19%.
National benchmarks slipped in 12 of the 18 countries that make up the euro zone following some poor corporate earnings and negativity from the US being taken on board by investors. The Stoxx 600 hit an early record high during intraday trading however was cut back later in the session to sit virtually unchanged at 308 in the afternoon. London’s FTSE succumbed to late pressure bolstered by the looming recession to close the day in the red by 6 points, or less than 0.1%, at 6, 688. Germany’s DAX edged up 0.09% while in France, the CAC 40 fell by 0.08%.
London’s copper led the way for base metals which edged up despite the soft economic data that hit the market. US copper for July delivery was recently up 0.7% or two cents at US$3.29 a pound. In London, copper put on 1.1% while nickel, aluminium, zinc and lead were all hovering around the mark by the end of trade.
Gold futures extended its record slump as the US dollar maintained its steady position against foreign currencies. Gold for June delivery was lately down $11.20 or 0.8% at US$1,385 an ounce while Silver futures for July delivery rose less than 0.1 percent to $22.659 an ounce after touching a one month-low during trading hours.
Consumers shrugged off the weak economic data and ignored reports of a cutback in bond-buying programs and speculated further stimulus in the economy following a decline in unemployment. This pushed the price of crude oil up overnight in a session that was trading 28% above the 100-day average. WTI oil for June delivery advanced 86 cents to settle at $95.16 a barrel on the New York Mercantile Exchange at the final siren.
There is no domestic data on the agenda today. The US will release a leading index tonight, as well as preliminary readings on consumer sentiment and inflationary expectations. With such a little amount of data to hit the market today it is unlikely that there will be any major shifts in momentum from what we are seeing this morning. The US is at some sort of a crossroads whereby the benchmark index’s are all hovering around record highs, spurring the Fed’s to want to cut back in stimulus, while economic data is suggesting just the opposite. The data was weak enough to offset the surge in the greenback overnight, swaying back a bit of momentum in the commodity market, however the Australian market will need more than a glimpse of hope in that sector to reciprocate the dull finish that we encountered yesterday afternoon.
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Company Environmental Sector Rating (CESR) Reports
ASX Company Analysis Reports
NSX Company Analysis Reports
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Alchemia Sets a High Standard for Junior Biopharmaceuticals
Alchemia Limited (ASX: ACL) is a biopharmaceutical company based in Queensland with an advanced pipeline of drug discovery technology and products. After a recent collaboration with AstraZeneca, the Company is on track for big things this year and looks forward to a prosperous future ahead.
(Updated: 10-5-2013)
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Exciting Times Ahead for Phosphagenics
Phosphagenics Limited (ASX:POH) is a Melbourne-based biotechnology company which has developed a unique delivery technology known as TPM which is able to deliver actives and drugs into or through the skin. These drugs can be used for the combat of issues relating to pain relief, dermatology, supplements, skin care and animal health. After enduring the hardships that came with the research and development stages of this platform drug, the Company has hit the ground running in 2013 with nothing but blue skies ahead.
(Updated: 3-5-2013)
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Morphic on Stockpicking, Investment Philosophy and Performance
Global equities manager, Morphic Asset Management launched its first product Morphic Global Equities Fund (MGOF), a global equity long/short manager with a long bias and a macro-economic overlay to its stock selection process, eight months ago.
(Updated: 3-5-2013)
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Benitec Biopharma lead the fight against Hepatitis C and Lung Cancer
Benitec Biopharma Limited (ASX:BLT) is an Australia-based publicly listed company formed in 1997 that developed a unique platform technology called ddRNAi which can be used to silence unwanted or disease-causing genes. The Company is primarily focused on developing its technology on prolonged treatments of both Hepatitis C and Lung Cancer.
(Updated: 23-4-2013)
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Persistence Paying Off for Orocobre
Orocobre Limited (ASX: ORE, TSX: ORL) is an industrial minerals company that specialises in the exploration and the development of large–scale brine based lithium projects in Argentina. After commencing exploration in 2007, the Company is currently in the construction phase and heading down the home stretch of developing stage one of an extremely promising lithium resource called ‘Olaroz’ in North West Argentina.
(Updated: 23-4-2013)
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Geodynamics Hit the Ground Running in 2013
Geodynamics Limited (ASX:GDY) is Australia’s leading geothermal exploration and development company, targeting Enhanced Geothermal Systems. It has reached a key milestone in its Habanero Project in South Australia and recently releases promising results from a resource assessment of its Solomon Islands project.
(Updated: 15-4-2013)
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Aspen Group Resurrect Success Through Core Fundamentals
Aspen Group (ASX:APZ) is a property investment and management company based in Western Australia and has been successfully building its management portfolio since its formation in 2001.
(Updated: 11-4-2013)
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Inca Minerals: A healthy balance of conservativeness and aggression
Inca Minerals Limited (ASX:ICG) is a Perth-based junior resource company established in 2011 and is currently exploring for porphyries in Peru. Inca is built upon and discerns itself from other juniors by its ‘projects’, ‘people’ and performance’. Its purpose is to provide shareholder value by conducting sustainable exploration activities leading to discovery, mineral production and long-lasting social and community uplift.
(Updated: 5-4-2013)
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Shaw River Manganese Targets Quality Project for Company Advancement
Shaw River Manganese Limited (ASX:SRR) is a mineral exploration and development company exploring a number of manganese projects both in Australia and Internationally. Two projects are located in Africa and several projects in Australia. Shaw River is currently focused on exploration, defining and increasing the mineral resource base and completing project studies, leading to the development of an open cut mining operation at its 75.5% owned Otjozondu project, in Namibia.
(Updated: 28-3-2013)
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Algae Tec Builds Strong Platforms in Development Stage
Algae.Tec (ASX:AEB) is an advanced biofuels company focused on commercializing technology that produces algae to manufacture sustainable fuels such as bio diesel and green jet fuel.
(Updated: 25-3-2013)
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Cadence Capital – Setting the Standard in Australian LICs
Cadence Capital (ASX: CDM) is extending a second tranche of its current share offering to satisfy a seemingly insatiable demand and interest in the company.
(Updated: 22-3-2013)
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Incremental Oil and Gas Uncover Gems from the Past
Incremental Oil and Gas (ASX:IOG) is an oil and gas company with producing oilfields throughout the US. The team behind the company aims to identify and acquire underperforming oil fields and increase production and recoveries. IOG’s primary focus is production rather than high risk exploration, with a strong emphasis on positive cash flow.
(Updated: 20-3-2013)
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Target Energy discover the best of the US
Target Energy Ltd (ASX:TEX) is an Australian Securities Exchange-listed petroleum exploration and production company which originated in Perth but has since expanded to Texas to pursue more promising projects to further its financial growth and oil and gas exploration and production portfolio.
(Updated: 19-3-2013)
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Bionomics Advancing on Multiple Fronts for a Big Year Ahead
Based in Adelaide, Bionomics (ASX:BNO) is a productive drug discovery and development engine room focused on new treatments for cancer and serious disorders of the central nervous system. Recent testing undertaken by the company have sought to produce treatments for diseases such as renal and ovarian cancer, Alzheimer’s disease, depression and anxiety, and solid tumours.
(Updated: 15-3-2013)
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Sub Zero keeping it cool
Sub Zero Holdings, a mining services company located in NSW’s Hunter valley, had developed into an increasingly attractive take-over target. A recent acquisition by SVC Group, announced late last year, appears set to secure Sub Zero’s long term future.
(Updated: 13-3-2013)
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Fodder King - A closer look
Australian agribusiness company, Fodder King Ltd offers investors with a rare opportunity to gain a balanced exposure to primary industries in Australia, as well as to capitalise on the emergence of a powerful middle class in Asia.
(Updated: 4-3-2013)
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Centrex Metals’ Successful Joint Ventures lead to Special Dividend
Centrex Metals Ltd (ASX:CXM) is a South Australia based company that was incorporated in 2001 for the purpose of extensive exploration and development or iron ore mining on Eyre Peninsula.
(Updated: 18-2-2013)
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East Coles 2012 corporate wrap-up: favourites, roughies and underdogs
East Coles is the leading Financial Research firm in the Equities, Investment Banking & Corporate Performance Markets in Australia and aim to assist financial markets’ service providers to better evaluate their level of client satisfaction, and to assist corporate in effectively assessing investment sentiment to their company. Their recent report is based on the feedback of Australian Fund Managers and brokers based around over 20 categories related to corporate investment.
(Updated: 15-2-2013)
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Marengo Mining Advance Copper Project in Papua New Guinea
Marengo Mining Ltd are a Perth based company which, with the assistance of a new and experienced Board of Directors, have expanded their management to Canada where they have taken on various exciting new mining projects.
(Updated: 15-2-2013)
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Torque Mining Gaining Serious Traction
The listing of Torque Mining on the ASX will bring to fruition a decade of exploration and development by parent company, Frontier Resources. With dominating control over the Moina district of Northern Tasmania, Torque Mining are on track to bring gold assets there to production by as early as the middle of this year.
(Updated: 15-2-2013)
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Cellmid Signs Important Midkine Diagnostic Agreement in Japan
Cellmid Limited (ASX:CDY) is a biotechnology company listed on the Australian Stock Exchange
(Updated: 14-2-2013)
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Jacka Resources enters International Big Leagues
Late last year Australian company Jacka Resources (ASX:JKA) celebrated a major agreement with Anglo-Turkish company Genel Energy, headed by ex-BP CEO, Tony Hayward. In just a few years, Jacka Resources has quickly become a force to be reckoned with on the international stage.
(Updated: 30-1-2013)
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Ashburton moves forward and Keeps the Gears Turning.
Ashburton Minerals (ASX:ATN) is turning experience and expertise gained overseas back to focus on some key projects in Australia.
(Updated: 29-1-2013)
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Austin Exploration on track for Success
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Indoor Skydiving set to land in Australia
Indoor skydiving, a proven business concept overseas, has landed in Australia. With an established, high-traffic site already marked out, iFly Downunder will begin trading as early as Christmas next year.
(Updated: 13-12-2012)
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Bank of Queensland’s aims to raise $250 million
The Bank of Queensland (BOQ) is looking to issue 2.5 million Convertible Preference Shares (CPS) and raise $250 million.
(Updated: 3-12-2012)
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With High Demands and High Returns, is the time ripe for this property management venture?
Rental Management Investment Trust (RMIT) has been established as a “feeder investment trust” for the Rental Management Australia Fund (RMA Fund) offering investors the opportunity of participating in a stapled security comprising of the Rental Management Australia Group Limited (RMA Group) and the Rental Management Australia Trust (RMA Trust).
(Updated: 3-12-2012)
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Contango a game-changer in listed investment companies
Contango MidCap Income Limited (CMIL), with an IPO closing in early December, aims to set a new benchmark in the management of listed investment companies.
(Updated: 22-11-2012)
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Victory Mines (VIC) having launched on the ASX on the 9th of October 2012 are already taking poignant commercial steps
Managing Director Mr. Danny Costik stated that ‘the significant milestone of successfully raising the funds in an IPO was in itself a tribute to the quality of the company, projects and all those involved.’ He added “furthermore we’ve hit the ground running,” causing the company to already release three price sensitive announcements since listing.
(Updated: 20-11-2012)
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The Etherstack name is derived from the words ether meaning air and stack being the protocol stack software. I suggest that it should also be synonymous with engineering ingenuity and business excellence.
Etherstack has grown to over 60 employees in the last 10 years and has revenues in excess of $50 million from the last five years. It possesses contracts with the likes of Cisco Systems Inc., Raytheon Company, Rockwell Collins Inc., General Dynamics C4 Systems, Thales Communications Inc. and Lockheed Martin from across the globe and is now focusing on further growth opportunities. This primarily export driven company to date will take advantage of local economies of scale to develop a burgeoning new Australian revenue stream from within the government sector.
(Updated: 12-10-2012)
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Silver Swan changes colour and continent to explore Spain for Gold
Silver Swan Group Limited is a polymetallic explorer with tenements in the Murchison Province of Western Australia and also in the Extremadura region of Spain.
(Updated: 12-10-2012)
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Boadicea Resources Ltd was incorporated on the 28th of February 2011 to acquire and explore highly prospective tenements in Western Australia and to identify commercially viable gold and mineral deposits.
An interview with experienced, Managing Director, Mr. Clarke Dudley revealed the strength of the key fundamentals that underpin the Company as well as detailing the rationale behind an attractive share option offer that protects and adds value for investors.
(Updated: 12-9-2012)
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A victory for your portfolio in more than just name
Victory Mines Limited is offering 20,000,000 shares at $0.20 per share to raise $4,000,000, with up to an additional 10,000,000 shares at $0.20 per share in oversubscriptions being made available. Mr Danny Costick, Managing Director, explained “an investment in Victory represents an exciting opportunity for investors seeking participation in exploration for rare earth elements, copper, base metals, uranium, platinum group elements and gold.”
(Updated: 26-7-2012)
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A Significant alliance between Cardia Bioplastics and Alto Packaging provides opportunity for your portfolio
Cardia Bioplastics Limited (ASX: CNN) is an Australian developer and manufacturer of both sustainable resins and finished products derived from renewable resources. It operates within the global packaging and plastic products industries and only a couple of days ago announced a new partnership with Alto Packaging, a leading Australasian packaging supplier. This was the latest positive announcement for the company and led to a dramatic rise in the company share price.
(Updated: 17-7-2012)
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Predictive Discovery is living up to its name
Predictive Discovery is a gold and uranium exploration company with its main projects in Burkina Faso, West Africa. The company is targeting the discovery of gold ore resources exceeding 2 million ounces and upon completion of the current fundraising further exploration of promising tenements will proceed. The company was named after its groundbreaking PredictoreTM technology that better positions the company to be able to discover ores from its tenements by offering greater targeting efficiency relative to current available search protocols used within the industry.
(Updated: 17-6-2012)
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Is the timing right for a revaluation of the Sumatra Copper and Gold stock?
Sumatra Copper and Gold is a Sumatran based emerging gold producer. Production is targeted for 2013 and the company strategy involves a two stage development plan that requires relatively small initial capital expenditure.
(Updated: 3-5-2012)
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New gold company Crest Minerals announce an underwriter that reveals the true strength of the company management, fundamentals and their tenements
Chairman Mr. Angus Middleton explained that
“We have an underwriter for AUD$ 2 million of the AUD$3½ million minimum subscripition. The underwriter is a Financial Planning Group from Adelaide which combined with the Barrington Corporates Lead Management means we should be assured of the minimum subscription of AUD$3.5 million. Broker interest allows us to target full subscription including over-subscriptions. We are on the home run with regard to the fundraisings close on May 4th and the excitement of the operational side is soon to begin. Broker interest has been substantial and that is testimony to our strong fundamentals which led to the underwriting success and the opportunity for investors.”
(Updated: 20-4-2012)
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Gossan Hill Gold Limited was incorporated in November 2010 to provide a gold-focused entity to fund and develop several gold exploration prospects.
Executive Chairman Dr. Andrew White explained “The primary focus for the company is gold. We have four project areas in New South Wales where we have over 20 individual targets already prepared to drill.”
(Updated: 20-4-2012)
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Chile offers Estrella the very finest mining ores and laws
Estrella Resources Limited (Estrella) will raise AUD $6million for an Initial Public Offering (IPO) listing on the ASX with an offer of 30,000,000 shares at an issue price of $0.20 each.
(Updated: 19-4-2012)
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An interview with Director Mr Nick Castleden quickly revealed the exciting upside for both investors and the company with a mining interest in the Côte d’Ivoire, West Africa underpinned by a more advanced play here in Western Australia.
Mr. Castleden explained “We’re going to West Africa because of the open spaces and the big potential for new gold discoveries. When you are the first team on the ground in this sort of terrain you can get the most cost effective success. We are probably the cheapest entry to this market for investors and we offer great upside on exploration success.”
(Updated: 19-4-2012)
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Breaker Resources NL was incorporated in 2010 to pursue new opportunities for gold discovery in the emerging Yamarna and Burtville Terranes located in Western Australia.
Managing Director Mr. Tom Sanders explained “The strategic plan is to achieve capital gain by making discoveries.”
(Updated: 30-3-2012)
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Zeta Petroleum is an oil and gas based company incorporated in the UK with operations in Romania and listing on the local ASX and now offering investors an opportunity to invest within a European oil and gas play.
Managing Director Mr. Stephen West explained both the current and future plans for an aggressive business plan designed to maximise upon the strong fundamentals at its disposal.
(Updated: 28-3-2012)
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Austrasia International Mining Limited (Austrasia)’s is a company soon to be listed on the ASX, who have a strategy to effectively define and develop the company's copper-gold mineralised targets.
The Initial Public Offering (IPO) is for 10,000,000 Shares at an offer price of 20 cents per Share to raise $2,000,000 to fund the Company’s exploration and development activities in Western Australia.
(Updated: 28-3-2012)
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Tabora Limited offers investors an exciting opportunity to invest in a focused explorer of Rare Earth Elements (
The company is currently raising AUD $5million through an IPO of shares on the ASX which will enable them to take commercial advantage of an alliance with Resolute (RSG) on key projects that offer access to tenements on a combined ground holding that covers over 753 km2 which is considered highly prospective for economic REE mineralisation.
(Updated: 23-3-2012)
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Cuesta Coal is to scale up its operation as significant investment, proven JORC resources and an established management enables the company to take advantage of the stable economic situation.
Cuesta Coal Limited was formed in September 2011 in order to prepare the private Queensland focused Australian coal exploration company, Blackwood Coal Pty Ltd., for a public listing, due on the 5th of April 2012.
(Updated: 22-3-2012)
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Both Dynamic and Modern in their approach, proven and experienced in management, Crest Minerals, a Kalgoorlie Gold Exploration Company will soon list on the ASX and has a current IPO of 17,500,000 Shares at an issue price of $0.20 per Share to raise $3,500,000. Over Subscriptions of up to a further 7,500,000 Shares at an issue price of $0.20 per Share
Crest Minerals offers a strategically acquired investment opportunity into one of the world's leading low-risk gold mining provinces around Kalgoorlie in Western Australia.
(Updated: 29-2-2012)
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Australian Oil explorer Pura Vida Energy is set to join mining leaders as its African play moves forward at pace.
Pura Vida Energy is an African oil explorer that has successfully completed an IPO. Managing Director Mr. Damon Neaves explained that “the success was a testimony to the quality of the asset that the company holds.” He further explained that “the asset had been independently certified to have the potential to contain over 1 billion barrels of oil.”
(Updated: 15-2-2012)
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PepinNini Minerals identify specific resources on their tenements
Why? As a response to the positive fundamentals that underpin their exploration that are as yet are to be reflected in the company share price.
(Updated: 13-2-2012)
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Pragmatism followed by Profit. The Actinogen Bioethanol discovery moves towards commercialisation
The next steps for Actinogen revealed by Director Mr. David Zohar will ensure both legal compliance and the maximization of profit for the company’s exciting new discovery that potentially allows the manufacture of Bioethanol in a significantly cheaper way
(Updated: 7-2-2012)
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Bimini Resources Limited (ASX: BIM) is an Australian based exploration company incorporated on 31 March 2010 for the purpose of acquiring and developing exploration projects.
Currently the company is raising funds via an IPO involving the sale of 17.5Million shares @ $0.20 each to raise AUD$3.5Million. The company can take oversubscriptions of up to 2.5Million shares to raise an additional AUD$500,000.
(Updated: 23-12-2011)
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Two years ago the company decided to literally ditch the toys and are now an emerging Iron ore explorer in the resource rich Nigeria.
The company has entered into agreements to acquire a package of prospective exploration licences covering iron ore prospects in the Kogi State, Nigeria. The Kogi State is an iron ore rich region in Nigeria that is yet to be fully explored.
(Updated: 23-12-2011)
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Just rewards for their Innovative Approach – Iqnovate Ltd to start trading on Thursday the 15th of December.
Iqnovate Ltd have successfully raised AUD$ 1.2 million dollars through the sale of 6 million and 48,000 shares with impressive spread and support at a level that equates to approximately 3 times more than required by the NSX.
(Updated: 14-12-2011)
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The resource is certified, the project is developed, the operation is in a stable western liberal democracy and the upside is vast. Take a closer look at Cady Energy Limited.
Cady Energy Limited is an emerging Coalbed Methane producer focused on the Hanging Woman Project in the Powder River Basin, Sheridan County, Wyoming, USA, The company is applying for quotation on the Australian Securities Exchange (proposed ASX: CGY).
(Updated: 7-12-2011)
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Transpacific Industries Group Limited Institutional Entitlement Offer for AUD $309 million is fully underwritten and that is no mean feat in the current market.
The accelerated renounceable entitlement offer will be underwritten by the Joint Lead Managers in addition to the Institutional Entitlement Offer. The underwriting provides a greater degree of certainty for the Company and ensures approximately AUD $309 million will be raised.
(Updated: 6-12-2011)
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A camping opportunity with a differing nature
Titan Energy Services Limited offers investors the opportunity to access shares via its prospectus with an issue of 5,000,000 Shares to be offered for subscription at AUD$1.00 each.
(Updated: 6-12-2011)
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A global scale unconventional gas resource with global scale potential
Ambassador Oil & Gas Limited was established to participate in the exploration and development of oil and gas projects in South Australia and Queensland and they are raising funds up to AUD$20 million via the issue of up to 100 million Shares at $0.20 cents in order to take advantage of the current opportunity.
(Updated: 6-12-2011)
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Frontier Solar IPO offers investors a slice of the booming Chinese and Indian renewable energy sectors
Frontier Solar Limited (SIM: FSO) has announced a $6m Initial Public Offering (IPO).
(Updated: 22-11-2011)
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Spencer Resources are raising AUD$3.2 million through the offer of 16,000,000 ordinary Shares at 20 cents each. The company has a minimum subscription requirement of AUD$2,500,000 million.
Spencer Resources are a mining exploration company and Mr. David Paterson the Chairman explains “the company will use the funds to become actively involved in exploration, development and investment in resource opportunities that cover a suite of minerals.”
(Updated: 22-11-2011)
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Good news for the Australian market, it is more sophisticated, more competitive and more attractive to overseas investors as a result of solid start and opening for Chi-X Australia.
Chi-X Australia provides a new and exciting alternative to trading shares on the ASX. It offers investors cost savings and reliability with a platform that has been tested worldwide and has a significant global reputation. Its sister company now accounts for nearly 40% of all trades on the London Stock Exchange and the platforms operate in 6 major economies including North America, UK, Japan, Singapore and now Australia.
(Updated: 22-11-2011)
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Ezenet to restructure and relist as Oro Verde
Ezenet (EZN) is in the process of changing from a technology based company to a mineral company due to the quality of exciting tenements that have been acquired in Chile and the new direction of the core business.
(Updated: 22-11-2011)
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Actinogen Limited to produce new cheaper biofuel
Actinogen Limited has made an exciting new discovery that relates to the production of Biofuels.
(Updated: 16-11-2011)
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VOLTA MINING LIMITED (“Volta Mining”) listed on the 19th of October 2011 on the ASX at a 7.5% premium.
This is your chance to still acquire script close to the IPO price and follow the likes of Indian Ocean Capital and other Institutions in acquiring a piece of African action.
(Updated: 28-10-2011)
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Aperio Resources Limited is a gold-focused explorer with strategically located tenements in Burkina Faso, targeting low cost and highly profitable gold resources.
The Company is offering shares to investors via an IPO at an issue price of $0.20, plus one free attaching option for every two shares subscribed for to raise a minimum of $4m. Oversubscriptions of $1m may also be accepted.
(Updated: 24-10-2011)
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SVC Group Limited will raise up to AUD$2 million for the purposes of facilitating the re-quotation of the company’s shares on the ASX and a recommencement of trading within the property and sector withi a new venture and with new management.
In addition SVC has made a strategic early investment in an opportunity to possibly develop resource projects in Africa.
(Updated: 24-10-2011)
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New South Resources Part 2 – A look at the Board through an earthy description of how all the pieces of the jigsaw fit together so well
New South Resources is seeking to raise $8,500,000 through the issue of 42,500,000 Shares at $0.20 per Share, which will be used to develop and extensively explore the Company’s highly prospective gold and base metals projects as well as to provide working capital. For every three shares purchased there is also an attached listed option to purchase one share at a $0.20 exercise price.
(Updated: 21-10-2011)
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New South Resources to raise $8,500,000
New South Resources is seeking to raise $8,500,000 through the issue of 42,500,000 Shares at $0.20 per Share, which will be used to develop and extensively explore the Company’s highly prospective gold and base metals projects as well as to provide working capital. For every three shares purchased there is also an attached listed option to purchase one share at a $0.20 exercise price.
(Updated: 20-10-2011)
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With its IPO Offer financing completed and oversubscribed, we take a closer look at what is driving gold-bauxite explorer Aziana Limited, from Institutional investment to strong fundamentals.
Gold and Bauxite explorer Aziana Limited (AZK) has closed its AUD12.5M Offer oversubscribed. The explorer, well experienced in Madagascar operations is financing for the acceleration of its existing programs. Investors are backing the professional mining management team to prove resources on their highly prospective licenses. Its project portfolio, corporate structure, ethical approach and loyal staff mean that the company is well placed to implement its business plan.
(Updated: 18-10-2011)
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Mr. Ross Fielding was friendly, intelligent and professional in his description of the business and the invitation to become a shareholder of RXP Services Limited (RXP).
RXP is offering 15 million Shares at $0.50 per Share to raise $7.5 million under their current Prospectus. This will generate a market capitalisation immediately prior to listing of $21.48 million. In addition, RXP will accept oversubscriptions of up to a further 2 million Shares. The funds raised will be used to fund initial cash payments for the acquisitions of Vanguard and Indigo Pacific in both Australia and Hong Kong, and to fund the growth of the RXP business organically.
(Updated: 17-10-2011)
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Cadence Capital Limited (ASX code: CDM) reveal how it has weathered the equity market storm and like all strong companies in less than ideal conditions has risen to the top of the tree.
The interview was not as I had imagined and seemed more like a pleasant invitation to understand how the Cadence Capital Limited business has produced above market returns for its investors since its 2003 inception.
(Updated: 19-9-2011)
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A world first initiative by an Australian company. The result, a realisation of proven opportunity within one of the most profitable market sectors.
During an interview with Mr. George Syrmalis CEO, it does not take long for his enthusiasm and explanation of the business model to get the mind racing. The offer has already been underwritten by Centre capital
(Updated: 21-8-2011)
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The 2011 Australian Petroleum Show
Australia’s largest indoor/outdoor energy exhibition will this year be held from August 23 – 23 2011 at the University of Southern Queensland, Toowoomba.
The University of Southern Queensland will become a networking hub of hundreds of delegates and trade visitors from Australia and the world.
(Updated: 27-7-2011)
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Target Energy to Earn 60% Interest in Fairway Project in Permian Basin
Target Energy Limited (ASX: TEX) is an Australian petroleum exploration and production company that has just agreed to take a 60% interest in the Fairway project in the Permian Basin in West Texas. The project covers 1500 acres in the highly prospective Wolfberry Oil Resource Play.
(Updated: 27-7-2011)
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Reed Resources Ramps Up Exploration, Receiving High Grade Copper Gold at Meekatharra and Commencing Resource Drilling at Mount Marion
Reed Resources Ltd (ASX: RDR) is an exploration company with interests in projects for steel, lithium, gold and nickel. Reed Resources has recently advanced their exploration programs substantially, by both announcing high grade copper gold intercepts from the Meekatharra gold project, and commencing resource drilling at the Mount Marion lithium project.
(Updated: 27-7-2011)
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Rum Jungle Commence Expansion Drilling at Barrow Creek 1 to Delineate a JORC Resource
Rum Jungle Resources Limited (ASX: RUM) is a junior explorer that specialises in uranium, phosphate, potash and base metals, with a focus on land in the Northern Territory and Queensland. Rum Jungle has commenced a comprehensive exploration program at the Barrow Creek 1 prospect within the Ammaroo Phosphate Project in order to define a JORC compliant resource.
(Updated: 27-7-2011)
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Predictive Discovery Uncovers 3km Gold Anomaly at Laterite Hill
Predictive Discovery Limited (ASX: PDI) is a gold and uranium exploration company with a focus in Burkina Faso, in West Africa and two additional projects in Australia. Predictive Discovery has recently discovered an extensive bedrock gold anomaly under shallow cover on the Laterite Hill grid at the Bonsiega Project in Burkina Faso.
(Updated: 27-7-2011)
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Bassari Resources Receives Further Strong Gold Intercepts from Resource Drilling at Makabingui
Bassari Resources Limited (ASX: BSR) is a gold exploration company with a focus on discovering multi-million ounce gold deposits in the Birimian greenstone belt of West Africa. Bassari has recently received further strong gold intercepts from diamond drilling at its Makabingui Gold Project in West Africa.
(Updated: 21-7-2011)
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Gold One International Limited on Track to Exceed First Quarter Production Target
During the first quarter of 2011, production rates at Gold One’s Modder East mine have continued to build off the solid base that was established during the latter half of 2010. During January and February 2011, Gold One produced 18,154 ounces of gold. On an annualised basis, production rates have increased from approximately 85,000 ounces per annum (based on the 2010 December quarter’s production) to 109,000 ounces per annum (based on production from the first two months of 2011).
(Updated: 21-7-2011)
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Porter Capital ASX200 Prime Momentum Fund (MTM)
Porter Capital’s Prime Momentum Fund (MTM) is unique in its ability to protect investors capital by moving to 100% cash if a sustained market downturn such as the GFC occurs.
(Updated: 21-7-2011)
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Marmota Energy Receives Further Significant Iron and Manganese Assays from Western Spur
Marmota Energy Limited (ASX: MEU) is a precious metal and uranium exploration and development company with tenements covering 10,000km². Marmota has recently received significant assays from follow-up rock chip sampling at the company’s Western Spur project in South Australia which is considered to be prospective for uranium and base metals.
(Updated: 21-7-2011)
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exterra will cash in on current gold deposits and realise value for investors. The price of gold is at an all time high, does this fit into your portfolio?
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Test
test
(Updated: 29-1-2013)
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COMMISSIONERS GOLD EXTENDS IPO BY TWO WEEKS
Sydney-based Commissioners Gold Limited has extended by two weeks until Tuesday, June 14, its A$4.5 million Initial Public Offer (IPO).
(Updated: 15-6-2011)
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Gold Float Closing Soon
A blend of traditional values, experience and approach combined with foresight and current technology make Commissioner’s gold an exciting NSW gold play worthy of closer look. Importantly the company already has an established JORC deposit at Cooma an old BHP mine, 37,000 ounces of high grade gold worth in excess of A$50 million
(Updated: 8-6-2011)
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