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ASX Afternoon Market Wrap – 8th February 2012
Australian shares rose today, but gains were capped by a drop in BHP, after the miner reported a lower than expected first-half profit.
The benchmark S&P/ASX200 gained 16.5 points, or 0.4 per cent, to 4290.7, while the broader All Ords rose 18.7 points, or 0.4 per cent, to 4363.6.
All sectors bar utilities (down 0.2 per cent) closed in the black. Energy stocks led the gains, jumping 1.6 per cent. Materials rose 0.3 per cent and financials edged 0.2 per cent higher.
A slightly disappointing first-half profit result from BHP Billiton was the main drag on the market, while three of the big four banks were also lower.
In company news, BHP Billiton has reported a rare fall in earnings, hurt by labour battles and weaker commodity prices, but the result shows it is still in a different league from its would-be rival: Glencore-Xstrata.
Despite the 6 per cent drop in half-year profit to $US9.94 billion ($9.2 billion), BHP made more cash profits in six months than the $US90 billion marriage of commodities trader Glencore and miner Xstrata would have made in all of 2011 - and from far fewer revenues.
That was largely due to BHP's hugely profitable iron ore business, a strength it shares with its main rival, Rio Tinto, which separately unveiled a $3.4 billion expansion in the Pilbara.
The result is one of the biggest in Australian corporate history, but fell short of the record $US10.52 billion set by BHP last year and the expected $US10 billion level analysts had predicted.
It's the first time in two years the world's biggest miner posted a profit fall, as numbers were hurt by lower commodity prices and higher costs.
Billionaire investor Richard Chandler will inject $150 million into revamping forestry company Gunns, as part of a $280 million capital raising.
The New Zealander's private Richard Chandler Corporation confirmed today it was taking a stake in Gunns, and would seek to "catalyse" the long-planned $2 billion plus Bell Bay pulp mill.
Gunns shares skyrocketed by as much as 60 per cent on the news, before closing up 36 per cent at 17 cents.
RCC will become Gunns' major shareholder, with 39 per cent of the company.
Gunns also plans to raise about $130 million in a 1.3 for one share rights issue at 12 cents a share.
Individual stock performances
BHP Billiton was at $37.75 down 15 cents. Rio Tinto was at $71.76 up 75 cents.
Banks
Westpac was at $20.90 down 2 cents. NAB was at $22.93 down 28 cents. ANZ was at $21.61 up 25 cents. Commonwealth Bank was at $50.32 down 19 cents.
Media
News Corp was at $18.74 down 10 cents. John Fairfax was at 77 cents up 10 cents.
Retail
Woolworths was at $24.30 up 2 cents. Harvey Norman was at $2.07 down 2 cents. David Jones was at $2.54 up 3 cents.
Toll Holdings was at $4.96 down 14 cents. Qantas was at $1.63 up 1 cent.
Food
Coca Cola was at $11.55 down 2 cents. Goodman Fielder was at 53 cents up 3 cents.
Insurance
AMP was at $4.33 up 1 cent. QBE was at $12.15 down 12 cents. IAG was at $2.91 up 4 cents.
Gold
Gold was unchanged and was trading at $1,748 an ounce.
Oil
Oil was up by 54 cents, or .55 per cent to trade at $98.95 a barrel.
Dollar
At 1600 AEST the Australia dollar was:
AUD/USD 1.08
AUD/EUR .815
AUD/GBP .679
AUD/JPY 83.24
AUD/NZD 1.29
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Company Environmental Sector Rating (CESR) Reports
ASX Company Analysis Reports
NSX Company Analysis Reports
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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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Investors ought to consider PepinNini Minerals Limited over the holiday break with a view to putting them in their investment portfolio.
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: 23-12-2011)
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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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GOLD BAUXITE EXPLORER AZIANA LIMITED (ASX: AZK) MAKES SUCCESSFUL TRANSITION TO A PUBLIC COMPANY
Now the real business can begin for Aziana Limited after a successful listing on the ASX.
(Updated: 10-11-2011)
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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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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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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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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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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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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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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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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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