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oj/pr/r
Millrock Resources and Inmet Mining seal option agreement for San Jose and Dry Mountain copper proje: Millrock Resources (TSX-V: MRO) has signed an option agreement, finalising it its partnership with Inmet Mining Corporation (TSX: IMN) for the exploration of the San Jose and Dry Mountain porphyry-copper prospects in Arizona. The initial deal was reported on 8 January and now, with the signing complete, the partners are preparing to begin work. Geophysical surveys to refine drill targets are planned for spring 2010, with drilling scheduled to follow.The San Jose claim sits on the intersection of the exceptionally prolific Safford and Morenci porphyry trends, which combined have accounted for over 10 billion tons of copper production, Millrock said. Freeport McMoran (NYSE: FCX) currently mines from the Safford trend. Millrock also noted that a porphyry cell was discovered by Noranda Inc in the 1990s on the San Jose claim. “Geochemical, geophysical and geological vectors indicate that a large porphyry deposit may exist just to the northeast of the area previously drilled.”Meanwhile, the Dry Mountain claim, situated 20 kilometres south-east of San Jose, is located on the Morenci Trend, hosting a 10 kilometer (diameter) geochemical anomaly strong in copper and molybdenum. “The area is completely covered in overburden, but depth to bedrock is thought to be less than 200 m,” Millrock reported in January. “No drilling has previously been done”.The agreement will see Inmet Mining earn a 70% interest in the two claims by spending US$4 million and making option payments of US$0.3 million. The 2010 commitment consists of an initial payment of US$50,000 to Millrock and an exploration budget of US$0.5 million for 2010. The 2010 program will include ZTEM airborne surveys and induced polarization surveys on both claims to define drill targets.Since the initial agreement in January, Millrock has expanded its exploration efforts further in North America, with several new early-stage projects in Alaska. On 22 January Millrock reported that it had staked a block of 36 claims (2,331 hectares) west of the company’s Estelle property. The claims are all situated on the Kahiltna Terrane, Alaska, which also hosts Northern Dynasty’s world class copper-gold porphyry deposit.On 17 February, Millrock announced it had also staked two claim blocks in the Kahiltna Terrane of Alaska, which will form the basis of two separate joint ventures with Altius Minerals Corporation (TSX: ALS). The claim blocks are named the Monte Cristo project and the St Eugene Project; in total the 55 claims span a combined 3,561 hectares. The two 50%:50% joint ventures represent the first properties to be explored through the strategic alliance between Millrock and Altius, agreed in June 2009.
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at/ d/ss
FTSE 100 slips as Dow Jones, S&P 500 and NASDAQ decline on US jobless data: Overview: the FTSE 100 turned negative today, shedding 0.6% to wipe out yesterday’s gains, which was in line with pre-trade projections. Miners and energy stocks were weak as oil and metal prices edged lower on Chinese demand concerns and a stronger US dollar. Oil and gas engineering firm Petrofac (LSE: PFC) emerged atop the leaderboard with a gain of nearly 4%. Telecom BT (LSE: BT.A) followed, climbing 3%. Tour operator Thomas Cook (LSE: TCG) and retailer Kingfisher (LSE: KGF) gained slightly more than 2.5%, while temporary power provider Aggreko (LSE: AGK) advanced 2%. Quality and safety services provider Intertek (LSE: ITRK), another tour company TUI Travel (LSE: TT) and clothing retailer Next (LSE: NXT) were up 1.8%. Copper miner Kazakhmys (LSE: KAZ) was the heaviest faller with a 3.5% loss. Sector peers Fresnillo (LSE: FRES), Rio Tinto (LSE: RIO) and Randgold Resources (LSE: RRS) declined 3%, as did medical devices manufacturer Smith & Nephew (LSE: SN). US stocks were slight lower in early trade as a weekly jobless claims update from the Labor Department showed a lesser than expected decline of 6,000 to 462,000. The Dow Jones Industrial Average declined 0.2%, while the broader S&P 500 index was down 0.15% and the technology heavy NASDAQ composite was flat. Commodities Crude prices recouped their early losses in mid afternoon today, supported by an inventories update from the US Energy Information Administration (EIA), which reported a surprisingly low increase of 1.4 mmbbls (million barrels) in oil inventories a day after API (American Petroleum Institute) said crude stockpiles in the US added 6.5 million barrels, while a smaller increase was expected. The data also signalled a sixth straight week of expansion in oil inventories. At the same time, EIA said that gasoline stockpiles and distillates, which include heating oil, were down fell 2.9 million barrels and 2.2 million barrels respectively to signal higher demand. Meanwhile, OPEC (Organization of Petroleum Exporting Countries) upped its demand forecast for the current year yesterday, projecting the global consumption to grow by an additional 0.9 mmbbls/d (million barrels per day) to 85.24 mmbbls/d provided that the ongoing economic recovery firms. April Brent Crude recaptured the US$80/barrel mark, while US light, sweet crude was at US$81.74/barrel. Blue chip oil and gas producers were mixed. Cairn Energy (LSE: CNE) led the pack with a 1% gain. Shell (LSE: RDSB) was flat, while fellow supermajor BP (LSE: BP) rose marginally. BG Group (LSE: BG) and Tullow Oil (LSE: TLW) lost nearly 1%. Oil and gas engineering firms did well as Petrofac (LSE: PFC) added 3%, while peer Amec (LSE: AMEC) tacked on less than 1%. Premier Oil (LSE: PMO) was the top performer among the midcaps, climbing 2% after reporting an oil discovery in the North Sea. Salamander Energy (LSE: SMDR) and Soco International (LSE: SIA) also did well with gains of 1.3%. Dana Petroleum (LSE: DNX) was flat, while Heritage Oil (LSE: HOIL) rose marginally and Dragon Oil (LSE: DGO), JKX Oil & Gas (LSE: JKX) and Melrose Resources (LSE: MRS) slipped 1.5%, 2% and 3% respectively. Wood Group (LSE: WG) rose marginally, while fellow services company Wellstream Holdings (LSE: WSM) added 2.7%. Energy investor Xtract Energy PLC (AIM: XTR) and EU operating Rome-based oil junior Mediterranean Oil & Gas (AIM: MOG) led the juniors, advancing 9% and 5% respectively. Gold falls to $1,105 as US dollar firms Gold fell sharply today as the US dollar gained against other major currencies on fears of further tightening of monetary policy in China after the country’s consumer price index increased to an annualised rate of 2.7% in February to signal higher inflation, which, however, was still within the government’s 3% target for 2010. Back in January, China moved to implement a series of measures to curb credit growth after it reached record levels in the first weeks of the year, pushing lending down to 700 billion yuan in February compared to 1.39 trillion yuan in the previous month. The American currency is seen as a safe haven asset, while gold is considered to be a riskier alternative and usually moves inversely to the US dollar. The euro performed well last week after debt laden Greece introduced a new round of economic austerity measures and conducted a successful €5 billion bond issue to meet its near term commitments to ease concerns over its ability to avoid a default. This week, however, Europe’s single currency fell under pressure after Fitch threatened to cut Portugal’s rating from the current AA if the ongoing fiscal consolidation continues at a slow pace and proves insufficient. The euro edged higher later in the week after Portugal raised US$1.35 billion via a bond issue to prop up precious metals, though it fell back today ahead of the Swiss National Bank’s interest rate decision, which will be released at 13:30 GMT. Gold stabilised at about US$1,105/oz, climbing on technical buying, which intensified once the yellow metal moved closer to the psychological level of US$1,100/oz. Silver and platinum followed, dropped to US$16.92/oz and US$1,581/oz respectively. Most major mining stocks were in decline today. Silver producer Frensillo (LSE: FRES) led the retreat with a 2.6% loss. Randgold Resources (LSE: RRS) and platinum producer Lonmin (LSE: LMI) declined 2.2% and 1.7% respectively. Specialty chemicals firm Johnson Matthey (LSE: JMAT) was flat. Midcap gold miner Petropavlovsk (LSE: POG) posted a small gain to defy the trend, however, fellow FTSE 250 constituents Aquarius Platinum (LSE: AQP) and silver producer Hochschild Mining (LSE: HOC) slipped 2.8% and 2.6% respectively. Africa operating gold and platinum miner Goldplat (AIM: GDP), Uzbekistan focused gold miner Oxus Gold (AIM: OXS) and Brazil focused gold miner Horizonte Minerals (AIM: HZM) climbed 10%, 7% and 6% respectively. Kyrgyzstan focused gold explorer and developer Chaarat Gold Holdings (AIM: CGH) and Turkey and Ethiopia operating gold miner Stratex International (AIM: STI) headed in the opposite direction, slipping 6% and 3.5% respectively. Copper and nickel slide to weaken miners Base metals followed as copper and nickel slid to US$3.33/lb and US$9.59/lb respectively, while zinc dropped to US$1.03/lb. Base metals turned negative with the exception of Chilean copper miner Antofagasta (LSE: ANTO), which posted a small gain. Kazakhmys (LSE: KAZ) led the retreat, shedding 3%. Rio Tinto (LSE: RIO) followed with a 2.6% loss, while Xstrata (LSE: XTA) and BHP Billiton (LSE: BLT) lost 2.3% and Eurasian Natural Resources (LSE: ENRC) was down 2%, as was Vedanta Resources (LSE: VED). Anglo American (LSE: AAL) slid 1.7%. London's only listed pure iron ore producer and FTSE 250 constituent, Ferrexpo (LSE: FXPO) moved with the sector, shedding 1.5%. Australia focused coking coal producer Caledon Resources (AIM: CDN) was one of the top performers among the juniors with a 4.5% gain. Bank, insurance, private equity Banking stocks were in decline today with the sole exception of Lloyds (LSE: LLOY), which gained 1.3%. Barclays (LSE: BARC) lost 1.9%, while HSBC (LSE: HSBA) and Standard Chartered (LSE: STAN) slid 1.4% and 1.1% respectively. Royal Bank of Scotland (LSE: RBS) declined marginally. Insurance stocks were mixed. Old Mutual (LSE: OML) was at the bottom of the pile with a loss of 2.6%. Legal & General (LSE: LGEN) declined marginally, while Aviva (LSE: AV) was flat and Admiral Group (LSE: ADM), Prudential (LSE: PRU) and RSA Insurance Group (LSE: RSA) added less than 1%. Standard Life (LSE: SL) was in the lead, climbing 1.9%. Private equity group 3i (LSE: III) posted a small gain. Small Cap Movers Other notable movers among the small caps included developer of CAD and image analysis software Medicsight (AIM: MDST) and Zimbabwe focused investor LonZim (AIM: LZM), which declined 13% and 5% respectively. Mobile email and data synchronisation group Synchronica (AIM: SYNC) rallied 16%. Large and Mid Cap News BP (LSE: BP) said it is paying Devon Energy Corp (NYSE: DVN) US$7.0 billion in cash for assets in Brazil, Azerbaijan and the US deepwater Gulf of Mexico, giving the UK oil major a material exploration position in the deepwater offshore Brazil and significantly enhance its position in core strategic areas. AstraZeneca (LSE: AZN) has agreed a license and supply deal with India's Torrent Pharmaceuticals, whereby Torrent will supply a portfolio of generic medicines to AstraZeneca. The generic medicines are already licensed in a range of countries, and the partnership intends to brand and market them in many where AstraZeneca already has a strong commercial footprint. Supermarket chain Morrisons (LSE: MRW) said in its results statement for the year ended 31 January 2010 that it added a further 43 new stores in the period, increased turnover by 6% to £15.4bn and reported underlying profits by 21% to £767m from the previous year. In it full-year results statement, Computacenter (LSE: CCC) said it made good progress in 2009 and it has entered 2010 with a lower cost base, having secured large services contracts. For the twelve months ended 31st December2009, the company reported a 25.8% increase adjusted pre-tax profit to £54.2m compared with £43.1m in the previous year, earnings per share (EPS) increased 31.9% to 27.7p. Midcap oil and gas producer Premier Oil (LSE: PMO) achieved the primary exploration target of the 34/5-1 S wildcat well at production license 374 S in the Norwegian portion of the North Sea by making a petroleum discovery in the Cook formation, while the other formation Statfjord came up dry. Small Cap News Australia operating exploration company Thor Mining (AIM, ASX: THR) has appointed Trevor Ireland as a non-executive director. The appointment is the second major initiative for the company this year under its new growth strategy, the group said. Ireland is a geologist with more than 40 years experience in minerals exploration and corporate management. Ethanol and biorefining group Lignol Energy Corporation (TSX-V: LEC) announced an agreement with UK construction prodocts supplier Kingspan Group PLC (LSE: KGP) for the joint development of commercial applications incorporating Lignol's class of High-Purity Lignin and lignin derivatives (HP-L lignin) into various products. BPC (AIM: BPC) has placed 69.8 million new shares to raise £2.4 million to meet its working capital requirements and reiterated its intention to re-domicile from the Falkland islands to the Isle of Man. Europa Oil & Gas (AIM: EOG) has updated investors on the testing of the Hykeham-1Z well, which was drilled on the PEDL150 license, a short distance from the Whisby Field in the UK. After conducting a casing pressure test yesterday, the company has confirmed that the original perforation charges failed to penetrate the well casing, and therefore there is currently no connection to the reservoir. Altona Energy (AIM: ANR) has appointed Peter Fagiano as senior executive in charge of project technology to join the Arckaringa Joint Venture (JV) management committee, which is responsible for the JV’s operations and decision making on all key matters. Mobile gambling specialist Probability (AIM: PBTY) said it has partnered with Mobenga, a Swedish provider of betting software. Probability will integrate into Mobenga's software platform and the groups will cooperate in marketing its games capability to Mobenga customers. Navigation equipment maker Raymarine (AIM: RAY) noted the recent hike in its share price and confirmed it has received a further approach from a third party, which may or may not lead to an offer being made for the entire issued share capital of Raymarine at approximately 3.6 pence per share.
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we/lo/0
Kazakhmys, Fresnillo and Randgold Resources push FTSE 100 lower: Overview: the FTSE 100 turned negative today, shedding 0.6% to wipe out yesterday’s gains, which was in line with pre-trade projections. Miners and energy stocks were weak as oil and metal prices edged lower on Chinese demand concerns and a stronger US dollar. Oil and gas engineering firm Petrofac (LSE: PFC) emerged atop the leaderboard with a gain of nearly 4%. Telecom BT (LSE: BT.A) followed, climbing 3%. Tour operator Thomas Cook (LSE: TCG) and retailer Kingfisher (LSE: KGF) gained slightly more than 2.5%, while temporary power provider Aggreko (LSE: AGK) advanced 2%. Quality and safety services provider Intertek (LSE: ITRK), another tour company TUI Travel (LSE: TT) and clothing retailer Next (LSE: NXT) were up 1.8%. Copper miner Kazakhmys (LSE: KAZ) was the heaviest faller with a 3.5% loss. Sector peers Fresnillo (LSE: FRES), Rio Tinto (LSE: RIO) and Randgold Resources (LSE: RRS) declined 3%, as did medical devices manufacturer Smith & Nephew (LSE: SN). US stocks were slight lower in early trade as a weekly jobless claims update from the Labor Department showed a lesser than expected decline of 6,000 to 462,000. The Dow Jones Industrial Average declined 0.2%, while the broader S&P 500 index was down 0.15% and the technology heavy NASDAQ composite was flat. Commodities Crude prices recouped their early losses in mid afternoon today, supported by an inventories update from the US Energy Information Administration (EIA), which reported a surprisingly low increase of 1.4 mmbbls (million barrels) in oil inventories a day after API (American Petroleum Institute) said crude stockpiles in the US added 6.5 million barrels, while a smaller increase was expected. The data also signalled a sixth straight week of expansion in oil inventories. At the same time, EIA said that gasoline stockpiles and distillates, which include heating oil, were down fell 2.9 million barrels and 2.2 million barrels respectively to signal higher demand. Meanwhile, OPEC (Organization of Petroleum Exporting Countries) upped its demand forecast for the current year yesterday, projecting the global consumption to grow by an additional 0.9 mmbbls/d (million barrels per day) to 85.24 mmbbls/d provided that the ongoing economic recovery firms. April Brent Crude recaptured the US$80/barrel mark, while US light, sweet crude was at US$81.74/barrel. Blue chip oil and gas producers were mixed. Cairn Energy (LSE: CNE) led the pack with a 1% gain. Shell (LSE: RDSB) was flat, while fellow supermajor BP (LSE: BP) rose marginally. BG Group (LSE: BG) and Tullow Oil (LSE: TLW) lost nearly 1%. Oil and gas engineering firms did well as Petrofac (LSE: PFC) added 3%, while peer Amec (LSE: AMEC) tacked on less than 1%. Premier Oil (LSE: PMO) was the top performer among the midcaps, climbing 2% after reporting an oil discovery in the North Sea. Salamander Energy (LSE: SMDR) and Soco International (LSE: SIA) also did well with gains of 1.3%. Dana Petroleum (LSE: DNX) was flat, while Heritage Oil (LSE: HOIL) rose marginally and Dragon Oil (LSE: DGO), JKX Oil & Gas (LSE: JKX) and Melrose Resources (LSE: MRS) slipped 1.5%, 2% and 3% respectively. Wood Group (LSE: WG) rose marginally, while fellow services company Wellstream Holdings (LSE: WSM) added 2.7%. Energy investor Xtract Energy PLC (AIM: XTR) and EU operating Rome-based oil junior Mediterranean Oil & Gas (AIM: MOG) led the juniors, advancing 9% and 5% respectively. Gold falls to $1,105 as US dollar firms Gold fell sharply today as the US dollar gained against other major currencies on fears of further tightening of monetary policy in China after the country’s consumer price index increased to an annualised rate of 2.7% in February to signal higher inflation, which, however, was still within the government’s 3% target for 2010. Back in January, China moved to implement a series of measures to curb credit growth after it reached record levels in the first weeks of the year, pushing lending down to 700 billion yuan in February compared to 1.39 trillion yuan in the previous month. The American currency is seen as a safe haven asset, while gold is considered to be a riskier alternative and usually moves inversely to the US dollar. The euro performed well last week after debt laden Greece introduced a new round of economic austerity measures and conducted a successful €5 billion bond issue to meet its near term commitments to ease concerns over its ability to avoid a default. This week, however, Europe’s single currency fell under pressure after Fitch threatened to cut Portugal’s rating from the current AA if the ongoing fiscal consolidation continues at a slow pace and proves insufficient. The euro edged higher later in the week after Portugal raised US$1.35 billion via a bond issue to prop up precious metals, though it fell back today ahead of the Swiss National Bank’s interest rate decision, which will be released at 13:30 GMT. Gold stabilised at about US$1,105/oz, climbing on technical buying, which intensified once the yellow metal moved closer to the psychological level of US$1,100/oz. Silver and platinum followed, dropped to US$16.92/oz and US$1,581/oz respectively. Most major mining stocks were in decline today. Silver producer Frensillo (LSE: FRES) led the retreat with a 2.6% loss. Randgold Resources (LSE: RRS) and platinum producer Lonmin (LSE: LMI) declined 2.2% and 1.7% respectively. Specialty chemicals firm Johnson Matthey (LSE: JMAT) was flat. Midcap gold miner Petropavlovsk (LSE: POG) posted a small gain to defy the trend, however, fellow FTSE 250 constituents Aquarius Platinum (LSE: AQP) and silver producer Hochschild Mining (LSE: HOC) slipped 2.8% and 2.6% respectively. Africa operating gold and platinum miner Goldplat (AIM: GDP), Uzbekistan focused gold miner Oxus Gold (AIM: OXS) and Brazil focused gold miner Horizonte Minerals (AIM: HZM) climbed 10%, 7% and 6% respectively. Kyrgyzstan focused gold explorer and developer Chaarat Gold Holdings (AIM: CGH) and Turkey and Ethiopia operating gold miner Stratex International (AIM: STI) headed in the opposite direction, slipping 6% and 3.5% respectively. Copper and nickel slide to weaken miners Base metals followed as copper and nickel slid to US$3.33/lb and US$9.59/lb respectively, while zinc dropped to US$1.03/lb. Base metals turned negative with the exception of Chilean copper miner Antofagasta (LSE: ANTO), which posted a small gain. Kazakhmys (LSE: KAZ) led the retreat, shedding 3%. Rio Tinto (LSE: RIO) followed with a 2.6% loss, while Xstrata (LSE: XTA) and BHP Billiton (LSE: BLT) lost 2.3% and Eurasian Natural Resources (LSE: ENRC) was down 2%, as was Vedanta Resources (LSE: VED). Anglo American (LSE: AAL) slid 1.7%. London's only listed pure iron ore producer and FTSE 250 constituent, Ferrexpo (LSE: FXPO) moved with the sector, shedding 1.5%. Australia focused coking coal producer Caledon Resources (AIM: CDN) was one of the top performers among the juniors with a 4.5% gain. Bank, insurance, private equity Banking stocks were in decline today with the sole exception of Lloyds (LSE: LLOY), which gained 1.3%. Barclays (LSE: BARC) lost 1.9%, while HSBC (LSE: HSBA) and Standard Chartered (LSE: STAN) slid 1.4% and 1.1% respectively. Royal Bank of Scotland (LSE: RBS) declined marginally. Insurance stocks were mixed. Old Mutual (LSE: OML) was at the bottom of the pile with a loss of 2.6%. Legal & General (LSE: LGEN) declined marginally, while Aviva (LSE: AV) was flat and Admiral Group (LSE: ADM), Prudential (LSE: PRU) and RSA Insurance Group (LSE: RSA) added less than 1%. Standard Life (LSE: SL) was in the lead, climbing 1.9%. Private equity group 3i (LSE: III) posted a small gain. Small Cap Movers Other notable movers among the small caps included developer of CAD and image analysis software Medicsight (AIM: MDST) and Zimbabwe focused investor LonZim (AIM: LZM), which declined 13% and 5% respectively. Mobile email and data synchronisation group Synchronica (AIM: SYNC) rallied 16%. Large and Mid Cap News BP (LSE: BP) said it is paying Devon Energy Corp (NYSE: DVN) US$7.0 billion in cash for assets in Brazil, Azerbaijan and the US deepwater Gulf of Mexico, giving the UK oil major a material exploration position in the deepwater offshore Brazil and significantly enhance its position in core strategic areas. AstraZeneca (LSE: AZN) has agreed a license and supply deal with India's Torrent Pharmaceuticals, whereby Torrent will supply a portfolio of generic medicines to AstraZeneca. The generic medicines are already licensed in a range of countries, and the partnership intends to brand and market them in many where AstraZeneca already has a strong commercial footprint. Supermarket chain Morrisons (LSE: MRW) said in its results statement for the year ended 31 January 2010 that it added a further 43 new stores in the period, increased turnover by 6% to £15.4bn and reported underlying profits by 21% to £767m from the previous year. In it full-year results statement, Computacenter (LSE: CCC) said it made good progress in 2009 and it has entered 2010 with a lower cost base, having secured large services contracts. For the twelve months ended 31st December2009, the company reported a 25.8% increase adjusted pre-tax profit to £54.2m compared with £43.1m in the previous year, earnings per share (EPS) increased 31.9% to 27.7p. Midcap oil and gas producer Premier Oil (LSE: PMO) achieved the primary exploration target of the 34/5-1 S wildcat well at production license 374 S in the Norwegian portion of the North Sea by making a petroleum discovery in the Cook formation, while the other formation Statfjord came up dry. Small Cap News Australia operating exploration company Thor Mining (AIM, ASX: THR) has appointed Trevor Ireland as a non-executive director. The appointment is the second major initiative for the company this year under its new growth strategy, the group said. Ireland is a geologist with more than 40 years experience in minerals exploration and corporate management. Ethanol and biorefining group Lignol Energy Corporation (TSX-V: LEC) announced an agreement with UK construction prodocts supplier Kingspan Group PLC (LSE: KGP) for the joint development of commercial applications incorporating Lignol's class of High-Purity Lignin and lignin derivatives (HP-L lignin) into various products. BPC (AIM: BPC) has placed 69.8 million new shares to raise £2.4 million to meet its working capital requirements and reiterated its intention to re-domicile from the Falkland islands to the Isle of Man. Europa Oil & Gas (AIM: EOG) has updated investors on the testing of the Hykeham-1Z well, which was drilled on the PEDL150 license, a short distance from the Whisby Field in the UK. After conducting a casing pressure test yesterday, the company has confirmed that the original perforation charges failed to penetrate the well casing, and therefore there is currently no connection to the reservoir. Altona Energy (AIM: ANR) has appointed Peter Fagiano as senior executive in charge of project technology to join the Arckaringa Joint Venture (JV) management committee, which is responsible for the JV’s operations and decision making on all key matters. Mobile gambling specialist Probability (AIM: PBTY) said it has partnered with Mobenga, a Swedish provider of betting software. Probability will integrate into Mobenga's software platform and the groups will cooperate in marketing its games capability to Mobenga customers. Navigation equipment maker Raymarine (AIM: RAY) noted the recent hike in its share price and confirmed it has received a further approach from a third party, which may or may not lead to an offer being made for the entire issued share capital of Raymarine at approximately 3.6 pence per share.
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pc/8 /5.
African Diamonds notified of De Beers reducing stake to 4.5 pct from 5.8 pct: African Diamonds PLC (AIM: AFD) said it has today received notification sent by letter, dated 8 March 2010, to its Dublin office that on 4 March 2010, De Beers SA reduced its holding in the company resulting in the crossing of a threshold of greater than 1 percent.Its holding in African Diamonds is now reduced to 4.5 percent from 5.8 percent.African Diamond’s AK6 project in Orapa, Botswana, is being developed through a joint venture between African Diamonds and Lucara Diamond Corp (TSX-V: LUC), an associate of Lundin Group. African Diamonds currently has a 30% interest in the project and Lucara owns the remaining 70%.Last month, African Diamonds received the latest valuation of diamonds from its AK6 mine in Botswana, and at US$162 a carat, the valuation exceeded the company’s previous projections. Furthermore the valuation is US$23 per carat higher than prices used in the current AK6 development studies. The new valuation also indicates the possibility of a US$200 per carat value at production.
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bl/um/ t
Petrofac, Next, Thomas Cook, BT and Aggreko climb, but FTSE 100 falls as commodities tumble: Overview: the FTSE 100 turned negative today, shedding 0.6% to wipe out yesterday’s gains, which was in line with pre-trade projections. Miners and energy stocks were weak as oil and metal prices edged lower on Chinese demand concerns and a stronger US dollar. Oil and gas engineering firm Petrofac (LSE: PFC) emerged atop the leaderboard with a gain of nearly 4%. Telecom BT (LSE: BT.A) followed, climbing 3%. Tour operator Thomas Cook (LSE: TCG) and retailer Kingfisher (LSE: KGF) gained slightly more than 2.5%, while temporary power provider Aggreko (LSE: AGK) advanced 2%. Quality and safety services provider Intertek (LSE: ITRK), another tour company TUI Travel (LSE: TT) and clothing retailer Next (LSE: NXT) were up 1.8%. Copper miner Kazakhmys (LSE: KAZ) was the heaviest faller with a 3.5% loss. Sector peers Fresnillo (LSE: FRES), Rio Tinto (LSE: RIO) and Randgold Resources (LSE: RRS) declined 3%, as did medical devices manufacturer Smith & Nephew (LSE: SN). US stocks were slight lower in early trade as a weekly jobless claims update from the Labor Department showed a lesser than expected decline of 6,000 to 462,000. The Dow Jones Industrial Average declined 0.2%, while the broader S&P 500 index was down 0.15% and the technology heavy NASDAQ composite was flat. Commodities Crude prices recouped their early losses in mid afternoon today, supported by an inventories update from the US Energy Information Administration (EIA), which reported a surprisingly low increase of 1.4 mmbbls (million barrels) in oil inventories a day after API (American Petroleum Institute) said crude stockpiles in the US added 6.5 million barrels, while a smaller increase was expected. The data also signalled a sixth straight week of expansion in oil inventories. At the same time, EIA said that gasoline stockpiles and distillates, which include heating oil, were down fell 2.9 million barrels and 2.2 million barrels respectively to signal higher demand. Meanwhile, OPEC (Organization of Petroleum Exporting Countries) upped its demand forecast for the current year yesterday, projecting the global consumption to grow by an additional 0.9 mmbbls/d (million barrels per day) to 85.24 mmbbls/d provided that the ongoing economic recovery firms. April Brent Crude recaptured the US$80/barrel mark, while US light, sweet crude was at US$81.74/barrel. Blue chip oil and gas producers were mixed. Cairn Energy (LSE: CNE) led the pack with a 1% gain. Shell (LSE: RDSB) was flat, while fellow supermajor BP (LSE: BP) rose marginally. BG Group (LSE: BG) and Tullow Oil (LSE: TLW) lost nearly 1%. Oil and gas engineering firms did well as Petrofac (LSE: PFC) added 3%, while peer Amec (LSE: AMEC) tacked on less than 1%. Premier Oil (LSE: PMO) was the top performer among the midcaps, climbing 2% after reporting an oil discovery in the North Sea. Salamander Energy (LSE: SMDR) and Soco International (LSE: SIA) also did well with gains of 1.3%. Dana Petroleum (LSE: DNX) was flat, while Heritage Oil (LSE: HOIL) rose marginally and Dragon Oil (LSE: DGO), JKX Oil & Gas (LSE: JKX) and Melrose Resources (LSE: MRS) slipped 1.5%, 2% and 3% respectively. Wood Group (LSE: WG) rose marginally, while fellow services company Wellstream Holdings (LSE: WSM) added 2.7%. Energy investor Xtract Energy PLC (AIM: XTR) and EU operating Rome-based oil junior Mediterranean Oil & Gas (AIM: MOG) led the juniors, advancing 9% and 5% respectively. Gold falls to $1,105 as US dollar firms Gold fell sharply today as the US dollar gained against other major currencies on fears of further tightening of monetary policy in China after the country’s consumer price index increased to an annualised rate of 2.7% in February to signal higher inflation, which, however, was still within the government’s 3% target for 2010. Back in January, China moved to implement a series of measures to curb credit growth after it reached record levels in the first weeks of the year, pushing lending down to 700 billion yuan in February compared to 1.39 trillion yuan in the previous month. The American currency is seen as a safe haven asset, while gold is considered to be a riskier alternative and usually moves inversely to the US dollar. The euro performed well last week after debt laden Greece introduced a new round of economic austerity measures and conducted a successful €5 billion bond issue to meet its near term commitments to ease concerns over its ability to avoid a default. This week, however, Europe’s single currency fell under pressure after Fitch threatened to cut Portugal’s rating from the current AA if the ongoing fiscal consolidation continues at a slow pace and proves insufficient. The euro edged higher later in the week after Portugal raised US$1.35 billion via a bond issue to prop up precious metals, though it fell back today ahead of the Swiss National Bank’s interest rate decision, which will be released at 13:30 GMT. Gold stabilised at about US$1,105/oz, climbing on technical buying, which intensified once the yellow metal moved closer to the psychological level of US$1,100/oz. Silver and platinum followed, dropped to US$16.92/oz and US$1,581/oz respectively. Most major mining stocks were in decline today. Silver producer Frensillo (LSE: FRES) led the retreat with a 2.6% loss. Randgold Resources (LSE: RRS) and platinum producer Lonmin (LSE: LMI) declined 2.2% and 1.7% respectively. Specialty chemicals firm Johnson Matthey (LSE: JMAT) was flat. Midcap gold miner Petropavlovsk (LSE: POG) posted a small gain to defy the trend, however, fellow FTSE 250 constituents Aquarius Platinum (LSE: AQP) and silver producer Hochschild Mining (LSE: HOC) slipped 2.8% and 2.6% respectively. Africa operating gold and platinum miner Goldplat (AIM: GDP), Uzbekistan focused gold miner Oxus Gold (AIM: OXS) and Brazil focused gold miner Horizonte Minerals (AIM: HZM) climbed 10%, 7% and 6% respectively. Kyrgyzstan focused gold explorer and developer Chaarat Gold Holdings (AIM: CGH) and Turkey and Ethiopia operating gold miner Stratex International (AIM: STI) headed in the opposite direction, slipping 6% and 3.5% respectively. Copper and nickel slide to weaken miners Base metals followed as copper and nickel slid to US$3.33/lb and US$9.59/lb respectively, while zinc dropped to US$1.03/lb. Base metals turned negative with the exception of Chilean copper miner Antofagasta (LSE: ANTO), which posted a small gain. Kazakhmys (LSE: KAZ) led the retreat, shedding 3%. Rio Tinto (LSE: RIO) followed with a 2.6% loss, while Xstrata (LSE: XTA) and BHP Billiton (LSE: BLT) lost 2.3% and Eurasian Natural Resources (LSE: ENRC) was down 2%, as was Vedanta Resources (LSE: VED). Anglo American (LSE: AAL) slid 1.7%. London's only listed pure iron ore producer and FTSE 250 constituent, Ferrexpo (LSE: FXPO) moved with the sector, shedding 1.5%. Australia focused coking coal producer Caledon Resources (AIM: CDN) was one of the top performers among the juniors with a 4.5% gain. Bank, insurance, private equity Banking stocks were in decline today with the sole exception of Lloyds (LSE: LLOY), which gained 1.3%. Barclays (LSE: BARC) lost 1.9%, while HSBC (LSE: HSBA) and Standard Chartered (LSE: STAN) slid 1.4% and 1.1% respectively. Royal Bank of Scotland (LSE: RBS) declined marginally. Insurance stocks were mixed. Old Mutual (LSE: OML) was at the bottom of the pile with a loss of 2.6%. Legal & General (LSE: LGEN) declined marginally, while Aviva (LSE: AV) was flat and Admiral Group (LSE: ADM), Prudential (LSE: PRU) and RSA Insurance Group (LSE: RSA) added less than 1%. Standard Life (LSE: SL) was in the lead, climbing 1.9%. Private equity group 3i (LSE: III) posted a small gain. Small Cap Movers Other notable movers among the small caps included developer of CAD and image analysis software Medicsight (AIM: MDST) and Zimbabwe focused investor LonZim (AIM: LZM), which declined 13% and 5% respectively. Mobile email and data synchronisation group Synchronica (AIM: SYNC) rallied 16%. Large and Mid Cap News BP (LSE: BP) said it is paying Devon Energy Corp (NYSE: DVN) US$7.0 billion in cash for assets in Brazil, Azerbaijan and the US deepwater Gulf of Mexico, giving the UK oil major a material exploration position in the deepwater offshore Brazil and significantly enhance its position in core strategic areas. AstraZeneca (LSE: AZN) has agreed a license and supply deal with India's Torrent Pharmaceuticals, whereby Torrent will supply a portfolio of generic medicines to AstraZeneca. The generic medicines are already licensed in a range of countries, and the partnership intends to brand and market them in many where AstraZeneca already has a strong commercial footprint. Supermarket chain Morrisons (LSE: MRW) said in its results statement for the year ended 31 January 2010 that it added a further 43 new stores in the period, increased turnover by 6% to £15.4bn and reported underlying profits by 21% to £767m from the previous year. In it full-year results statement, Computacenter (LSE: CCC) said it made good progress in 2009 and it has entered 2010 with a lower cost base, having secured large services contracts. For the twelve months ended 31st December2009, the company reported a 25.8% increase adjusted pre-tax profit to £54.2m compared with £43.1m in the previous year, earnings per share (EPS) increased 31.9% to 27.7p. Midcap oil and gas producer Premier Oil (LSE: PMO) achieved the primary exploration target of the 34/5-1 S wildcat well at production license 374 S in the Norwegian portion of the North Sea by making a petroleum discovery in the Cook formation, while the other formation Statfjord came up dry. Small Cap News Australia operating exploration company Thor Mining (AIM, ASX: THR) has appointed Trevor Ireland as a non-executive director. The appointment is the second major initiative for the company this year under its new growth strategy, the group said. Ireland is a geologist with more than 40 years experience in minerals exploration and corporate management. Ethanol and biorefining group Lignol Energy Corporation (TSX-V: LEC) announced an agreement with UK construction prodocts supplier Kingspan Group PLC (LSE: KGP) for the joint development of commercial applications incorporating Lignol's class of High-Purity Lignin and lignin derivatives (HP-L lignin) into various products. BPC (AIM: BPC) has placed 69.8 million new shares to raise £2.4 million to meet its working capital requirements and reiterated its intention to re-domicile from the Falkland islands to the Isle of Man. Europa Oil & Gas (AIM: EOG) has updated investors on the testing of the Hykeham-1Z well, which was drilled on the PEDL150 license, a short distance from the Whisby Field in the UK. After conducting a casing pressure test yesterday, the company has confirmed that the original perforation charges failed to penetrate the well casing, and therefore there is currently no connection to the reservoir. Altona Energy (AIM: ANR) has appointed Peter Fagiano as senior executive in charge of project technology to join the Arckaringa Joint Venture (JV) management committee, which is responsible for the JV’s operations and decision making on all key matters. Mobile gambling specialist Probability (AIM: PBTY) said it has partnered with Mobenga, a Swedish provider of betting software. Probability will integrate into Mobenga's software platform and the groups will cooperate in marketing its games capability to Mobenga customers. Navigation equipment maker Raymarine (AIM: RAY) noted the recent hike in its share price and confirmed it has received a further approach from a third party, which may or may not lead to an offer being made for the entire issued share capital of Raymarine at approximately 3.6 pence per share.
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im/cl/l
Oil slips on Chinese demand concern, BP, Cairn Energy, Petrofac, Amec and Premier Oil climb: Crude prices recouped their early losses in mid afternoon today, supported by an inventories update from the US Energy Information Administration (EIA), which reported a surprisingly low increase of 1.4 mmbbls (million barrels) in oil inventories a day after API (American Petroleum Institute) said crude stockpiles in the US added 6.5 million barrels, while a smaller increase was expected. The data also signalled a sixth straight week of expansion in oil inventories. At the same time, EIA said that gasoline stockpiles and distillates, which include heating oil, were down fell 2.9 million barrels and 2.2 million barrels respectively to signal higher demand. Oil prices were pressured by an update from China, which showed an increase in the world’s largest energy consumer’s inflation rate to an annualised 2.7% in February, raised concerns about the possibility of further monetary policy tightening that has already led to significant reductions in lending, curbing economic growth. Meanwhile, OPEC (Organization of Petroleum Exporting Countries) upped its demand forecast for the current year yesterday, projecting the global consumption to grow by an additional 0.9 mmbbls/d (million barrels per day) to 85.24 mmbbls/d provided that the ongoing economic recovery firms. April Brent Crude recaptured the US$80/barrel mark, while US light, sweet crude was at US$81.74/barrel. Blue chip oil and gas producers were mixed. Cairn Energy (LSE: CNE) led the pack with a 1% gain. Shell (LSE: RDSB) was flat, while fellow supermajor BP (LSE: BP) rose marginally. BG Group (LSE: BG) and Tullow Oil (LSE: TLW) lost nearly 1%. Oil and gas engineering firms did well as Petrofac (LSE: PFC) added 3%, while peer Amec (LSE: AMEC) tacked on less than 1%. Premier Oil (LSE: PMO) was the top performer among the midcaps, climbing 2% after reporting an oil discovery in the North Sea. Salamander Energy (LSE: SMDR) and Soco International (LSE: SIA) also did well with gains of 1.3%. Dana Petroleum (LSE: DNX) was flat, while Heritage Oil (LSE: HOIL) rose marginally and Dragon Oil (LSE: DGO), JKX Oil & Gas (LSE: JKX) and Melrose Resources (LSE: MRS) slipped 1.5%, 2% and 3% respectively. Wood Group (LSE: WG) rose marginally, while fellow services company Wellstream Holdings (LSE: WSM) added 2.7%. Energy investor Xtract Energy PLC (AIM: XTR) and EU operating Rome-based oil junior Mediterranean Oil & Gas (AIM: MOG) led the juniors, advancing 9% and 5% respectively.
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do/on/ L
Oil recovers on bullish EIA inventories report, energy stocks mixed in London: Crude prices recouped their early losses in mid afternoon today, supported by an inventories update from the US Energy Information Administration (EIA), which reported a surprisingly low increase of 1.4 mmbbls (million barrels) in oil inventories a day after API (American Petroleum Institute) said crude stockpiles in the US added 6.5 million barrels, while a smaller increase was expected. The data also signalled a sixth straight week of expansion in oil inventories. At the same time, EIA said that gasoline stockpiles and distillates, which include heating oil, were down fell 2.9 million barrels and 2.2 million barrels respectively to signal higher demand. Oil prices were pressured by an update from China, which showed an increase in the world’s largest energy consumer’s inflation rate to an annualised 2.7% in February, raised concerns about the possibility of further monetary policy tightening that has already led to significant reductions in lending, curbing economic growth. Meanwhile, OPEC (Organization of Petroleum Exporting Countries) upped its demand forecast for the current year yesterday, projecting the global consumption to grow by an additional 0.9 mmbbls/d (million barrels per day) to 85.24 mmbbls/d provided that the ongoing economic recovery firms. April Brent Crude recaptured the US$80/barrel mark, while US light, sweet crude was at US$81.74/barrel. Blue chip oil and gas producers were mixed. Cairn Energy (LSE: CNE) led the pack with a 1% gain. Shell (LSE: RDSB) was flat, while fellow supermajor BP (LSE: BP) rose marginally. BG Group (LSE: BG) and Tullow Oil (LSE: TLW) lost nearly 1%. Oil and gas engineering firms did well as Petrofac (LSE: PFC) added 3%, while peer Amec (LSE: AMEC) tacked on less than 1%. Premier Oil (LSE: PMO) was the top performer among the midcaps, climbing 2% after reporting an oil discovery in the North Sea. Salamander Energy (LSE: SMDR) and Soco International (LSE: SIA) also did well with gains of 1.3%. Dana Petroleum (LSE: DNX) was flat, while Heritage Oil (LSE: HOIL) rose marginally and Dragon Oil (LSE: DGO), JKX Oil & Gas (LSE: JKX) and Melrose Resources (LSE: MRS) slipped 1.5%, 2% and 3% respectively. Wood Group (LSE: WG) rose marginally, while fellow services company Wellstream Holdings (LSE: WSM) added 2.7%. Energy investor Xtract Energy PLC (AIM: XTR) and EU operating Rome-based oil junior Mediterranean Oil & Gas (AIM: MOG) led the juniors, advancing 9% and 5% respectively.
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al/de/t
Lignol Energy and UK’s Kingspan in joint product development deal : Ethanol and biorefining group Lignol Energy Corporation (TSX-V: LEC) announced an agreement with UK construction prodocts supplier Kingspan Group PLC (LSE: KGP) for the joint development of commercial applications incorporating Lignol's class of High-Purity Lignin and lignin derivatives (HP-L lignin) into various products. The agreement establishes a program to incorporate Lignol's renewable HP-L lignin into Kingspan's products, utilizing HP-L lignin as a replacement for some of the raw materials presently used in Kingspan's products. Kinsgspan director Peter Wilson commented: “We are interested in exploring potential applications for renewable sustainable materials such as Lignol's HP-L lignin within our business for several key reasons, including reducing the business' carbon footprint." In converting non-food cellulosic biomass feedstocks, such as agricultural residues and forestry waste, into ethanol, the Lignol biorefining process fractionates the biomass and extracts lignin, which naturally occurs in all cellulosic biomass, to produce a range of unique HP-L lignin materials. These compounds have been shown to have application in a wide range of industrial products, with a consequent reduction of greenhouse gas emissions.
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in/cl/de
Randgold Resources, Lonmin and Fresnillo slip as gold, silver and platinum decline: Gold fell sharply today as the US dollar gained against other major currencies on fears of further tightening of monetary policy in China after the country’s consumer price index increased to an annualised rate of 2.7% in February to signal higher inflation, which, however, was still within the government’s 3% target for 2010. Back in January, China moved to implement a series of measures to curb credit growth after it reached record levels in the first weeks of the year, pushing lending down to 700 billion yuan in February compared to 1.39 trillion yuan in the previous month. The American currency is seen as a safe haven asset, while gold is considered to be a riskier alternative and usually moves inversely to the US dollar. The euro performed well last week after debt laden Greece introduced a new round of economic austerity measures and conducted a successful €5 billion bond issue to meet its near term commitments to ease concerns over its ability to avoid a default. This week, however, Europe’s single currency fell under pressure after Fitch threatened to cut Portugal’s rating from the current AA if the ongoing fiscal consolidation continues at a slow pace and proves insufficient. The euro edged higher later in the week after Portugal raised US$1.35 billion via a bond issue to prop up precious metals, though it fell back today ahead of the Swiss National Bank’s interest rate decision, which will be released at 13:30 GMT. Gold stabilised at about US$1,105/oz, climbing on technical buying, which intensified once the yellow metal moved closer to the psychological level of US$1,100/oz. Silver and platinum followed, dropped to US$16.92/oz and US$1,581/oz respectively. Most major mining stocks were in decline today. Silver producer Frensillo (LSE: FRES) led the retreat with a 2.6% loss. Randgold Resources (LSE: RRS) and platinum producer Lonmin (LSE: LMI) declined 2.2% and 1.7% respectively. Specialty chemicals firm Johnson Matthey (LSE: JMAT) was flat. Midcap gold miner Petropavlovsk (LSE: POG) posted a small gain to defy the trend, however, fellow FTSE 250 constituents Aquarius Platinum (LSE: AQP) and silver producer Hochschild Mining (LSE: HOC) slipped 2.8% and 2.6% respectively. Africa operating gold and platinum miner Goldplat (AIM: GDP), Uzbekistan focused gold miner Oxus Gold (AIM: OXS) and Brazil focused gold miner Horizonte Minerals (AIM: HZM) climbed 10%, 7% and 6% respectively. Kyrgyzstan focused gold explorer and developer Chaarat Gold Holdings (AIM: CGH) and Turkey and Ethiopia operating gold miner Stratex International (AIM: STI) headed in the opposite direction, slipping 6% and 3.5% respectively.
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xi/he/rc
Rexahn Pharma secures Japanese patent for anti-cancer drug Archexin: Rexahn Pharmaceuticals, Inc. (NYSE Amex: RNN) has been issued a Japanese patent for its novel anti-cancer compound Archexin, which is currently undergoing Phase II clinical trial for the treatment of pancreatic cancer.Patient enrolment continues at multiple sites in the US and abroad as part of the ongoing trial with preliminary results expected in the fourth quarter of 2010.“The Japanese patent award is another step forward in the development of one of our lead clinical drug candidates, Archexin...in addition to strengthening our intellectual property portfolio, we are pleased with the progress of Archexin’s ongoing Phase II clinical trial,” said chairman and chief executive Chang Ahn.Archexin is a potent inhibitor of Akt protein kinase in the treatment of cancer. The drug is being developed to treat solid tumors and has US FDA Orphan Drug designation for RCC, pancreatic, stomach, glioblastoma, and ovarian cancers.Rexahn currently has three drug candidates in Phase II clinical trials, Archexin, Serdaxin and Zoraxel, which the company said were all potentially best in class therapeutics, and a pipeline of preclinical compounds to treat multiple cancers and CNS (central nervous system) disorders.Serdaxin, which is used for the treatment of depression and Parkinson’s disease, and Zoraxel, which treats sexual dysfunction, are the company’s most advanced drugs, currently approaching the conclusion of their respective Phase II trials. The company states that its drugs have the potential to “change the paradigm of how some cancers and CNS disorders are treated, not only providing patients with new cures, but also hope for a better quality of life,” with its Phase II drugs targeting diseases where “meaningful cures” are overdue.The preclinical compounds include RX-3117, jointly developed with Teva Pharmaceutical Industries for the treatment of cancer cells and tumors focusing on lung cancer, RX-1792 that suppresses protein kinase Akt and c-Fos, critical components of tumor growth and metastasis, RX-8243, whose trials have shown that it blocks tumor growth in xenograft models at low nanomolar concentrations and RX-0047, a potent inhibitor for HIF-1α, a key transcription factor involved in cancer cell survival, metastasis, and angiogenesis.Rexahn also operates R&D (research and development) programs of nano-medicines, 3D-GOLD, and TIMES drug discovery platforms.The company pursues a strategy of establishing partnerships with pharmaceutical companies to develop and commercialise its drug candidates, aiming to retain significant co-promotion or co-commercialization rights in certain worldwide markets to capture long-term value from its innovations.The company’s partner companies include ImmuDyne (OTCBB: IMMD), Japan-based Sciome Bioscience, Cevec, Texas-based Oncolix, Medgenics (LON: MEDU), Pacific Biometrics (OTCBB: PBME), Compendia Bioscience and Mumbai-headquartered Piramal Healthcare. The company is also developing HPMA-gemcitabine and HPMA-docetaxel, anticancer drugs that can overcome the downside of cytotoxic compounds, such as poor solubility, stability, and severe adverse reactions.Shares in Rexahn have performed very well over the past three months with the stock value more than doubling from US$0.6 to the current US$1.35 per share.
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Proactive Investors United Kingdom
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11/03/10
Millrock Resources and Inmet Mining seal option agreement for San Jose and Dry Mountain copper proje
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11/03/10
FTSE 100 slips as Dow Jones, S&P 500 and NASDAQ decline on US jobless data
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11/03/10
Kazakhmys, Fresnillo and Randgold Resources push FTSE 100 lower
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11/03/10
African Diamonds notified of De Beers reducing stake to 4.5 pct from 5.8 pct
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11/03/10
Petrofac, Next, Thomas Cook, BT and Aggreko climb, but FTSE 100 falls as commodities tumble
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11/03/10
Oil slips on Chinese demand concern, BP, Cairn Energy, Petrofac, Amec and Premier Oil climb
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11/03/10
Oil recovers on bullish EIA inventories report, energy stocks mixed in London
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11/03/10
Lignol Energy and UK’s Kingspan in joint product development deal
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11/03/10
Randgold Resources, Lonmin and Fresnillo slip as gold, silver and platinum decline
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11/03/10
Rexahn Pharma secures Japanese patent for anti-cancer drug Archexin
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Proactive Investors Australia
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11/03/10
Greenpower Energy awarded two geothermal permits in the Esperance area, WA
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11/03/10
Citigold Corporation extends SPP
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11/03/10
Discovery Metals latest drilling results bullish for Boseto Copper Project
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11/03/10
Bass Metals announces first-half operating profit of A$3.1 million on ore sales
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11/03/10
Cape Lambert Resources sells Lady Annie for A$135m
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11/03/10
Global Nickel Investment to commence drilling at Emmaville Bauxite project, NSW
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11/03/10
Lithium and rare earths markets poised for growth
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11/03/10
Tanami Gold encouraged by high grade gold potential at Sandpiper, WA
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11/03/10
Millrock Resources and Inmet Mining seal option agreement for San Jose and Dry Mountain copper proje
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11/03/10
African Diamonds notified of De Beers reducing stake to 4.5 pct from 5.8 pct