The Northern Territory news Thu 13 May 2010
The Northern Territory news; NewspaperNT
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Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin
Nationwide News Pty. Limited
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Nationwide News Pty. Limited
6 NT BUSINESS REVIEW, May, 2010 P U B : N T N E W S D A T E : 1 3 -M A Y -2 0 1 0 P A G E : 1 0 6 C O L O R : C M Y K INVESTMENT06 SIM Scimitar Resources 0.27 -0.06 SNU Southern Uranium 0.14 -0.07 STO Santos Ltd 12.95 -1.9 TAM Tanami Gold NL 0.05 0 TEU Top End Uranium Ltd 0.11 -0.01 THR Thor Mining PLC 0.018 0 THX Thundelarra Explor. 0.58 0.03 TNG TNG Limited 0.064 0.01 TOE Toro Energy Limited 0.099 -0.03 TRM Truscott Mining Corp 0.08 -0.02 TTY Territory Resources 0.2 -0.04 TUC Territory Uranium 0.09 -0.02 UEQ Uranium Equities 0.09 -0.05 UOG Uranium Oil and Gas 0.031 -0.01 URM Uramet Minerals 0.054 0.01 UTO U308 Limited 0.105 -0.01 UUL United Uranium 0.105 -0.12 UXA Uranium Exploration 0.046 -0.01 WDR Western Desert Res. 0.45 -0.04 WGR Westgold Resources 0.38 0.02 WPL Woodside Petroleum 43.43 -4.17 WRL Washington Resources 0.2 0.02 YRR Yellow Rock 0.027 -0.02 ASX CODE COMPANY NAME LAST PRICE CHANGE AAF Austral Africa Res 0.002 0 AAG Aragon Resources 0.235 0.07 AAR Anglo Australian 0.025 0 ADN Adelaide Resources 0.165 -0.03 ADY Admiralty Resources. 0.009 0 AIX Australian Infrastr. 1.79 -0.21 AJL AJ Lucas Group 2.3 -0.54 AMM Amcom Telecomm. 0.325 0.02 ARO Astro Diamond Mines 0.008 0 ARU Arafura Resource Ltd 0.51 -0.12 ATR Astron Limited 1.75 -0.05 AXY Atom Energy Limited 0.042 -0.02 BMY Brumby Resources 0.16 -0.06 BNT Bounty Industries 0.025 0 BOM Bondi Mining Limited 0.09 0.01 CMR Compass Resources NL 0.15 0 CRE Crescent Gold 0.14 -0.04 CSV CSG Limited 2.01 0.01 CTP Central Petroleum 0.067 -0.01 CUX Crossland Uranium 0.1 -0.04 DLS Drillsearch Energy 0.058 -0.02 DMA Dynasty Metals 0.185 -0.09 DYL Deep Yellow Limited 0.185 -0.06 EME Energy Metals Ltd 0.54 -0.16 EPE Enterprise Energy 0.725 -0.13 ERA Energy Resources 14.79 -4.72 ERM Emmerson Resources 0.22 -0.04 ASX CODE COMPANY NAME LAST PRICE CHANGE ERO Eromanga Uranium 0.028 -0.01 EXM Excalibur Mining 0.008 0 FSE Firestone Energy Ltd 0.021 -0.01 GBA Grandbridge Limited 0.17 -0.02 GGY Glengarry Resources 0.074 -0.01 GLM Gulf Mines Limited 0.028 0 GPN Greater Pacific Gold 0.015 -0.01 GSE Goldsearch Limited 0.03 0 GTP Great Southern Ltd 0.12 0 HDN Haddington Resources 0.23 -0.03 HTM Heritage Gold NZ 0.02 0 IDO Indo Mines Limited 0.32 -0.1 IGO Independence Group 4.39 -0.53 IRC Intermin Resources 0.16 -0.04 JMS Jupiter Mines 0.29 0.02 KGL Kentor Gold Limited 0.09 -0.03 KOR Korab Resources 0.36 -0.06 LAS Lasseters Corp. 0.01 0 LMG Latrobe Magnesium 0.018 0 MAK Minemakers Limited 0.31 -0.09 MEI Meteoric Resources 0.09 -0.02 MEO MEO Australia Ltd 0.34 -0.02 MMR Mec Resources 0.415 0.02 MNM Mantle Mining Corp. 0.026 -0.01 MRO Monaro Mining NL 0.06 -0.02 MTH Mithril Resources 0.15 0.01 MTN Marathon Resources 0.49 0 ASX CODE COMPANY NAME LAST PRICE CHANGE NAD North Australian Ltd 0.041 0 NMI Northern Mining 0.14 -0.03 NRU Newera Uranium 0.028 0 NTR NT Resources Ltd 0.22 0 NTU Northern Uranium 0.095 -0.05 NUP Nupower Resources 0.052 -0.02 NXS Nexus Energy Limited 0.245 -0.04 OKU Oklo Uranium Limited 0.043 -0.04 OLY Olympia Resources 0.026 0.01 OMH OM Holdings Limited 1.84 -0.04 ORD ORD River Resources 0.036 -0.01 PEV Pacific Enviromin 0.02 0 PGS Planet Gas Ltd 0.11 -0.04 POZ Phosphate Aus Ltd 0.15 -0.04 PPD Pan Palladium Ltd 0 0 PRW Proto Resource & Inv 0.024 -0.01 PSP Prosperity Resources 0.11 0.01 QTM Quantum Energy. 0.105 -0.01 RAW Rawson Resources 0.135 0.01 RBM Redbank Mines 0.05 -0.01 RDM Red Metal Limited 0.12 -0.01 RIO RIO Tinto Limited 66.93 -13.93 RUM RUM Jungle Uranium 0.061 -0.01 RWD Reward Minerals Ltd 0.38 -0.08 RXL Rox Resources 0.016 0 SEG Segue Resources 0.025 -0.01 SFR Sandfire Resources 3.6 -0.42 ASX CODE COMPANY NAME LAST PRICE CHANGE N O R T H E R N E X P O S U R E Your guide to ASX-listed companies operating in the Northern Territory * Prices were correct at time of going to press Batavia Mining Limited Batavia Mining Limited (BTV) has appointed Engenium Pty Ltd (Engenium) for the scoping study phase of the Roper River Iron Project (the Project). Engenium has started work on the scoping study which will be completed in two stages: 1. A financial analysis of engineering outcomes for a DSO operation including transportation and ship loading solutions; and 2. A Scoping study report on the Project. This will include mining and transportation solutions. Western Desert Resources Limited Western Desert Resources Limited (WDR) has today entered into a binding agreement with Roper Bar Farm-in partner IMEA Exploration and Development of Australia Pty Ltd (IEDA), a wholly owned subsidiary of Itochu, to buy back IEDAs 20 per cent interest in the Roper Bar project. The agreement means WDR will, subject to obtaining ministerial approval to the acquisition, regain 100 per cent ownership of this emerging iron ore region in the Northern Territory. The Roper Bar iron ore project comprises six granted exploration licences containing extensive hematitic iron ore horizons within the Sherwin Ironstone Member. To date Inferred Mineral Resources of 116Mt @ 39 per cent Fe including a DSO component have been established from a limited drilling program last year over a small part of the outcropping Sherwin Ironstone Member. Thundelarra Thundelarra reported on six holes, that have been drilled in the inaugural 15-hole program at the companys Ngalia Basin Project. Results to date have exceeded expectations with two of the six holes intersecting uranium mineralisation. The initial program is a very broadly spaced traverse designed to aid interpretation of the geology below the Tertiary cover in a previously untested area of the basin. Positive results have been returned from within both the Mt Eclipse Sandstone and the overlying Tertiary sequence. Also Thundelarra reported that the Company has secured the right to acquire a 60 per cent interest in granted Mining Lease M52/597 at Doolgunna, known as Red Bore, and an 80 per cent interest in six Exploration License applications at Yerrida, south of Doolgunna. Red Bore is located 500m east of Sandfire Resources NLs DeGrussa discovery (initial resource 7.13 million tonnes at 5.2 per cent copper and 1.9 g/t gold). Territory TURF iizen Equities Pty Ltd offers its monthly report on Australian Stock Exchange listed companies with particular interests in the Northern Territory. By EMILY PEARSE, iizen Equities adviser APRIL has been a month of highs and lows. The Australian market traded at highs not seen for 18 months, while the eruption of Icelandic volcano Eyjafjallajokall saw the airspace over Europe closed for about a week as volcanic ash moved across the region stopping all flights in and out of the area eerily mirroring the standstill state of the economies in the region. We have now seen Greece downgraded to 'junk' bond status as it struggles to keep its head above the tide of debt and the worrying thing is that Greece could be the tip of the ice-berg in the Euro region, as the credit rating of Spain was also downgraded on the same day. Spain is the Euro zones fourth largest economy, and like Greece, is grappling double-digit budget deficit. Following the collapse of the decade-long construction boom, Greece now faces years of weak growth and was recently described as the "800 pound gorilla in the room". Greece and Portugal are small countries, but Spain is about five times their size with regards to GDP. AFR 29 April, Win Thin Senior Currency Strategist, Brown Brothers Harruman & Co. Domestically, the resource sector has been both hot and cold in the last couple of weeks. There was a rush of merger and acquisition offers earlier in the month, starting with the tussle for MacArthur Coal which heated up the coal sector. This was then followed by a bid for Australias second largest gold producer, Lihir, by Newcrest Mining to form Australias largest gold producer. There are signs that gold is heading for a new assault on the record price reached back in December 2009. This is driving talk of take-over interest coming from overseas resource giants which might result in further activity for the precious metal companies. However, the big news this month has been the release of the long-awaited Henry Tax Review. Since the release of the new proposals, the resource stocks have taken a battering. While we remain apolitical, the idea behind the proposal is to try and capture some of the monopoly rents for taxpayers a 'Robin Hood' phenomenon of taking from the 'rich', the likes of BHP Billiton, Rio Tinto and Newcrest, and redistributing. However, the real issue with the proposal as it remains is the rate at which these companies will be taxed: 40 per cent on top of company tax, which in the first year will equal an estimated $A9 billion. Basically the issue boils down to whether this high tax rate for successful mining companies is internationally competitive and whether it will force them to postpone/shutdown operations in Australia and look for other opportunities elsewhere. There is then an argument that this will have a flow-on effect to the Australian economy as mining companies move jobs elsewhere. Away from the resources sector, domestic economic data continues to improve and this has prompted the decision by the Reserve Bank of Australia to lift interest rates yet again, bringing the cash rate to 4.5 per cent. Inflation is now firmly in sight, as house and commodity prices proved stronger than expected and prompted the sixth interest rate rise since October 2009 when rates were at emergency lows of 3 per cent. Australia continues to perform well comparatively against other developed nations and remains one of the few western countries to be tightening monetary policies at this time. On overseas markets, China has stumped up its deposit requirements for those buying homes as it tries to contain strong credit growth and lingering concerns the property market is a bubble waiting to burst. Then there are the fraud charges that have been laid again Goldman Sachs for betting against the US property market as they continued to sell investments to clients igniting concerns over other US investment banks. While this all seems to be doom and gloom, one bright spark among the rubble is that the US economy seems to be slowly healing itself. Corporate earnings from those companies to report have bounced back healthily; there has been a slight, although slow improvement in the labour market and a cheap US dollar is even helping exports. The oil price has continued to rise after a record bailout for debt stricken Greece was reached which lifted investors appetite for risk. There are also supply concerns surrounding the US Gulf oil slick disaster which have helped to prop up the oil price. The first signs that the disaster was interrupting production from the region came when two platforms in the area where shut down due to safety concerns. There are also concerns that shipping restrictions in the area could be imposed and slow tanker traffic which would mean a draw down on crude inventories, increasing the price. Another issue Australian investors face is the upcoming end of financial year. We are now just one month shy of June and for many the thought of capital gains comes after it is too late to do anything about it. Unlike the past few years, investors will be surprised that they will most likely have made a few capital gains along the way as the markets recovered from its lows in March last year. With that in mind it might be time to have a look at your current position in preparation for the looming June 30. A month of turbulence in the markets All Ords Index 4603 -4.8% -5.7% 20.7% 45.3% -33.0% Dow Jones 10868 -1.3% 4.2% 28.7% 52.2% -23.5% Australian Dollar (Cents US) 90.5 -2.1% 0.9% 12.2% 50.8% -8.1% Gold (US$/Oz) 1175 2.4% -0.3% 26.9% 83.6% 14.1% Gold (A$/Oz) 1249 2.6% 4.4% 7.6% 64.3% -13.3% Oil (US$/Barrel) 80 -7.6% -0.2% 13.9% 172.3% -46.3% Copper (US$/Tonne) 6800 -7.7% -7.4% 33.1% 145.5% -24.3% Todays Value Last Mth Percentage Change Since Jan 10 Jul 09 Mkt Low* Mkt High* * post GFC
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