Archive for February, 2009

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    • ACR Contraception Can Be Applied Like Perfume

    Monday, February 23rd, 2009

    Acrux (ACR) today announced positive results from the latest clinical trials of Nestorone® MDTS®, its unique contraceptive skin spray.  The spray is designed to be a better choice for women using hormonal contraceptive pills or patches.  

    Acrux’s trials in Australia with 40 women tested a number of its skin spray formulations, applied to the forearm once a day over 14 days. The amount of hormones in the blood was measured once a day and every 4 hours on day 14.  

    Formulations containing Nestorone® and ethinyl estradiol successfully delivered therapeutic amounts of both hormones across the skin into the blood. All spray formulations were well tolerated, with no serious adverse events recorded. 

    The next step in the development of the contraceptive spray is expected to be a Phase 2 dose-ranging clinical trial before conducting Phase 3 global registration trials. Through its alliance with Orion Corporation, Acrux will have the capability to provide commercial manufacture and supply of Nestorone® MDTS®. 

    “These multi-dose, steady-state results are very exciting and represent the first extended trial of our unique combination contraceptive sprays”, commented Acrux CEO Richard Treagus. “The results with Nestorone®, together with our formulation work on other contraceptive progestins, now place Acrux in a strong position to make commercial progress in this very large market” he added. 

    http://www.acrux.com.au/IRM/content/default.html

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    Our banks are the world s most profitable. Hooray..?

    Friday, February 20th, 2009

    Westpac is the world s most profitable bank, according to a survey by Boston Consulting Group. This is terrific news for shareholders, but may make Westpac s customers wonder who is paying for these record profits.

    The survey also found the Australian banking sector to be the most lucrative in the world. With recent news about escalating ATM fees and job layoffs, this may come as no surprise to consumers.

    Meanwhile, if you ve stashed your covert monies in a Swiss bank account, now might be a good time to reassess your options. UBS has agreed to divulge details of American account holders to US authorities investigating tax evasion, thus ending a centuries-old tradition of secret accounts management, and no doubt creating disappointment for espionage screenwriters everywhere.

    Stocks for your watchlist:

    • Westpac: WBC.AX (ASX); WBC.NZ (NZX); WBK.N (NYSE)
    • Commonwealth Bank: CBA.AX (CBA)
    • National Australia Bank: NAB.AX (ASX); NAB.NZ (NZX)
    • Bank of Queensland: BOQ.AX (ASX)
    • Australia and New Zealand Banking Group: ANZ.AX (ASX); ANZ.NZ (NZX)

    Further Information:

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    Friday 20th February 2009 MDS Morning Wrap

    Friday, February 20th, 2009

    Presented by Michael Hevern
    MDS Financial

    Click here to watch the presentation.

    or

    Click here to download the mp3 audio recording (935Kb).

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    Dow Closes At Six Year Lows, Oil Up 14% on 19/2/2009

    Friday, February 20th, 2009

    The Dow closed at a six year low last night, with concerns regarding the economic crisis persisting.  The Dow closed down by 89 points or 1.2% at 7465, the  S&P500 was down by 9 points or 1.2% at 778 and the Nasdaq was down 25 points or 1.7% at 1442.  

    Gold was stable dwon by $1.70/oz to $976/oz and oil climbed a massive 14% on news of a drop in supply up by $4.86  to $39.48/bbl at settlement.  Oil did fall back after settlement to just under $39 at the close.  

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    Industrea wins US$6.2m China contract

    Friday, February 20th, 2009

    Global mining products and services provider Industrea Limited (IDL) announced the award of a US$6.2 million contract by Chinese coal miner Inner Mongolia Yitai Coal, Ltd demonstrating the continued demand growth from China for Industrea’s market-leading mining safety and productivity equipment. 

    Industrea Managing Director and CEO, Robin Levison, said the company would provide four 55 tonne long wall roof support Chock Carriers to the company based in the northern Chinese region of Inner Mongolia, for delivery in the 2009/10 financial year. “Inner Mongolia Yitai Coal is targeting a major boost in production capacity over the next six years, from 38 million tonnes in 2007 to 50 million tonnes in 2010 and over 100 million tonnes by 2015,” Mr Levison said. China as a whole is targeting growth in coal production of 30 per cent by 2015 to meet energy needs.  

    Mr Levison said the latest contract win continued the strong recent surge of business activity for Industrea, with over A$75 million of new contracts awarded since July 2008, predominantly for the Chinese coal industry. 

    http://www.industrea.com.au/

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    Picks And Shovels Still In Demand for IDL

    Friday, February 20th, 2009

    Industrea (IDL) is the modern day equivalent of the picks and shovel suppliers from the early days of mining and business is booming.  

    Industrea is expecting to report an adjusted net profit after tax for the half of $24.65 million, up 106% on the prior comparative period. The increase in adjusted net profit after tax reflects improved financial results across Industrea’s businesses and the inclusion of trading results from the Huddy’s Mining Services business for the full period.  

    Reported net profit after tax for the period, of $3.7 million, is inclusive of a non-cash impairment charge on customer contract intangible assets, of $17.18 million. The impairment has arisen from the termination of the Handlebar Hill Open Cut contract.  

    The first half result is in line with directors expectations and the company reaffirms its full year guidance for FY2009 of adjusted net profit after tax in a range of $42 – $47 million.

    http://www.industrea.com.au/

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    Methoxyflurane approved for Veterinary use by the US FDA

    Friday, February 20th, 2009

    Medical Developments International (MVP) today announced that the company’s Methoxyflurane has been approved by the United States Food and Drug Administration (FDA) for use as a Veterinary anaesthetic supplied under the tradename ANAFANE. 

    Chief Executive Officer, Mr Chris Rossidis said, “the completion of the FDA Veterinary registration marks the culmination of significant work by the company to support the launch of Methoxyflurane for veterinary use in the US. The Company now has a gateway to the US veterinary market.” 

    The company has been supplying Methoxyflurane in the US on special access for veterinary use in research institutions for some time but has been unable to actively promote this product. MVP now intends to actively promote ANAFANE following FDA approval. Methoxyflurane has considerable potential for veterinary use and it is expected that this approval will open another significant market. The drug has some distinct advantages for veterinary medicine including the slowness with which animals emerge from anaesthesia and therefore the ability to manage animal welfare post-anaesthesia. 

    http://www.medicaldev.com/asx_announcements.php

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    Jackgreen Continues Robust Growth

    Friday, February 20th, 2009

    Leading Australian green electricity retailer Jackgreen (JGL) has experienced robust growth in its preliminary half-year results, with forecasts also remaining strong for the coming period. 

    Consolidated revenue for the half increased to $34 million, up 70 per cent on the corresponding period last year.  The revenue increase has been largely from its GreenPower electricity business, while its energy efficiency business, Easy Being Green, is expected to rapidly grow from this half. An EBIT loss of $900,000 before non recurring charges for the half year was within its budget, keeping the company in line for its first annual operational profit. Non-recurring charges of $1 million were provided through increased write-offs of doubtful debts and provisions as the company works through earlier debtor issues. 

    The company is forecast to continue it’s near 100% annual growth record for this year and return significant profit from next year as previously stated.  This growth will capitalise on favourable policy conditions including the increase in the government’s solar hot water rebate and its focus on building Australia’s renewable energy sector. 

    Full year revenue for this year is forecast to be $80 million up from $44 million last year. Next year is forecast to achieve $150 million with an EBIT of at least $10 million.   

    http://www.jackgreen.com.au/investor.php

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    Xenophobia reigns supreme

    Thursday, February 19th, 2009

    Calls for the Brisbane Line to be re-established have reached Canberra with Australians demanding action to defend ourselves from the Chinese invasion.

    First Rio, then Oz and now even the proudest of entrepreneurial Australians Twiggy, have succumbed to the Northern onslaught.

    What is the Government doing about it? cried diggers whose only super salvation is demanding that the FIRB allow these acquisitions to occur.

    We ll beat them by stealth just like we did the Japanese said another. We ll let them invest, then collapse the market and get the country back for next to nothing. It worked in the 80s with property and we can do it again in resources , the wily old timer declared.

    As a last resort, it was suggested we reinstate the Brisbane Line and let the Chinese dig up anything north.

    So Wayne Swann is now feeling the Peter Garrett s , an Australian expression for dammed if you do and dammed if you don t. He either allows the Chinese to invest and control some of Australia s largest resources companies and deposits, boosting the local stock market and investors returns, or denies them and Australia gets the hurts by the Chinese turning their attention to other parts of the world, the markets collapse and our old diggers have a pittance to live on.

    Oh to be a fly on the wall in cabinet.

    TrikiRicky

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    Australia is well positioned to ride out global recession: RBA

    Thursday, February 19th, 2009

    The RBA continues to offer encouraging words about how well the Australian economy is positioned for the global recession.

    RBA assistant governor Malcolm Edey was in reassuring mode yesterday, arguing Australia s monetary and fiscal policy was likely to be more effective than similar measures overseas.

    • interest rate reductions are being passed on to mortgage holders
    • the weakening of the Australian dollar is making exports more attractive to trading partners
    • retail sales for December were boosted by the government s first stimulus package
    • China and India would grow strongly again once the financial crisis passes

    Dire December figures from around the world may be reflect a brief spasm of turmoil, he suggested, brought about by one-off cuts to spending, production and inventories, combined with tighter credit restrictions, falling demand and confidence.

    More coverage on this subject can be expected tomorrow, when the RBA chief will be appearing before the House of Representatives economics committee.

    Further information:

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