Archive for March, 2009

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    • Light at the end of the Fortescue tunnel

    Tuesday, March 31st, 2009

    The West Australian has it on good authority that Treasure Wayne Swan will approve Andrew Forrest s bid to sell a significant portion of his Fortescue Metals Group to Chinese Government-controlled Hunan Valin Iron and Steel.

    Although the Foreign Investment Review Board (FIRB) is yet to announce its decision, the West Australian believes it will not object to the deal in its current form, but that if Valin were to seek to increase its stake from 17.4% the government would be provoked into considerable concern .

    Presumably this deal does not trigger any national security warning signals, which blocked the Oz Minerals / Minmetals takeover bid last week.

    Click here to read the full article.

    Stocks for your watchlist:
    OZ Minerals: OZL.AX (ASX)
    Fortescue Metals Group: FMG.AX (ASX)
    BHP Billiton: BHP.AX (ASX); BLT.L (London Stock Exchange); BHP.N (New York Stock Exchange)
    Rio Tinto: RIO (ASX and LSE)

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    Tuesday 31st March 2009 MDS Morning Wrap

    Tuesday, March 31st, 2009

    Presented by Michael Hevern
    MDS Financial

    Click here to watch the presentation.

    or

    Click here to download the mp3 audio recording (870Kb).

    General Advice Only

    *************************************************
    In this morning s wrap

    DOW: down 1.9% – Resistance!
    Autos Trigger Sell-off; Restructure or Else!
    US Banks Need More Bailout

    NASDAQ: down 2.8%
    Uptrend Broken;

    FTSE: down 3.5% – Resistance!
    Miners and Financials Weigh;
    DAX down 1.4% & CAC down 4.3%

    NIKKEI: down 4.5%- Most in 2 Months
    Fears of Corporate Failures
    Hang Seng down 4.7%

    Oil: down 7.1% – At $48
    US Weakening Demand

    Gold: down 0.9% ($915) Big Picture
    Commodities Lower;
    USD Higher

    SPI: Critical Levels: 3540 & 3440
    SPI down 57 (-1.6%);
    ASX200 Expect Pullback

    ASX News
    * OZL Minmetals revises bid Ex Prominent Hill; $1.1bn Debt to re-finance
    * Big miners to weigh
    * Energy, Gold & Materials to weigh
    * Financials to see continued profit taking ASX to open lower US lower; G20

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    US Markets Down Heavily on 30/3/2009

    Tuesday, March 31st, 2009

    The US markets fell heavily on Monday as the automaker bailout deadline was extended and their restructuring plans were rejected.  The Dow was down 254 points or 3.2% at 7522, the  S&P500 was down 28 points or 3.4% at 787 and the Nasdaq was down 43 points or 2.8%  at 1501.

    Gold continued to fall down $7.60 to $917/oz and crude oil fell sharply down $3.97 to $50.40/bbl.

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    Everyday Mine Services Share Purchase Plan

    Tuesday, March 31st, 2009

    Everyday Mine Services (EDS) announced on the 26/03/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date is 9/04/2009 on which shareholders must own the share to participate in the SPP and the closing date is 1/5/2009. Shares are expected to be issued on 6/5/2009 and commence trading on 7/5/2009. A maximum of $5,000 can be purchased by each shareholder at $0.04.

    http://www.everydaymineservices.com.au

    Discount : -14.3% Liquidity : Poor Profitability : Ok Stability : Poor

    * Note: Discount is based on the closing price on the 30 March 2009.

    For More Share Purchase Plans go to http://blog.mdsfinancial.com.au/category/share-purchase-plans/

    To Buy Shares And Participate in Share Purchase Plans use Trader Dealer http://www.traderdealer.com.au/

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    Every Day Mine Services Share Purchase Plan

    Tuesday, March 31st, 2009

    Everyday Mine Services (EDS)  announced on the 26/03/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date is 9/04/2009 on which shareholders must own the share to participate in the SPP and the closing date is 1/5/2009. Shares are expected to be issued on 6/5/2009 and commence trading on 7/5/2009. A maximum of $5,000 can be purchased by each shareholder at $0.04.

    http://www.everydaymineservices.com.au

    Discount : -14.3% Liquidity : Poor Profitability : Ok Stability : Poor

    * Note: Discount is based on the closing price on the 30 March 2009.

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    Neptune Marine Services Secures $45 million New Contracts

    Tuesday, March 31st, 2009

    Neptune Marine Services (NMS) announces that it has recently secured new and extended contracts worth approximately $45 million. Involving five of Neptune’s business units, the projects span Australia, Indonesia, India, Brunei, Hong Kong, the Gulf of Mexico and Russia. Neptune’s Managing Director and CEO, Christian Lange, said the contracts demonstrated an increased awareness of the Group’s integrated service capabilities within the global oil and gas industry and the fact that Neptune continues to partner with some of the world’s leading blue chip energy companies and EPIC contractors. 

    “Our recently awarded contracts in India, Indonesia, Hong Kong, Brunei and Russia emphasise our successful identification and execution of growth opportunities in new markets and our focus on migrating our integrated services model internationally.” 

    www.neptunems.com

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    Nanosonics Limited Commences Sale of Ultrasound Disinfector

    Tuesday, March 31st, 2009

    Nanosonics Limited (NAN) announces that it has commenced production and commercial sale of its breakthrough TrophonTM EPR ultrasound probe disinfector system, through distribution partners in New Zealand and Australia. Shipments, comprising Trophon EPR systems and NanoNebulantTM consumables, have been allocated to fulfil purchase orders already placed on the distribution partners by their customers, clinical end-users of the products. 

    The Company has undertaken a full sales launch to ultrasound professionals, including trade advertising and sales presentations to key opinion leaders and clinics throughout Australasia. Sales demand is being driven by the unique value proposition provided by the Trophon EPR system in the medical ultrasound market. A contributing factor to this demand is the greater awareness and vigilance of mandated legislation, regulatory requirements and the significant OH&S issues facing hospital and clinic staff. 

    http://www.nanosonics.com.au

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    Viralytics Secures Cancer Treatment Patent

    Tuesday, March 31st, 2009

    Viralytics Limited (VLA) has been granted a key patent by US authorities covering the use of Echoviruses for the treatment of all cancers expressing the integrin a2b1 molecule. EVATAK™ is the trade name for Viralytics’ proprietary formulation of the Echovirus Type 1. EV1 attach to the outside of cells, using a specific ‘receptor’ on the cell’s surface (like a key fitting a lock). EV1 uses the receptor, integrin a2b1 to bind and infect target cells. Types of cancer cells that express high levels of the integrin a2b1 molecule on their surface include ovarian, prostate and gastric cancers. Professor Darren Shafren (Chief Scientific Officer and inventor of the technology) said, “The granting of this US patent significantly increases Viralytics’ intellectual property portfolio, which already includes both US and European patents for a subset of Coxsackie A group viruses including CAVATAKTM, our lead product.” 

    http://www.viralytics.com/

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    Babcock & Brown Power Sells Kwinana Power Station

    Tuesday, March 31st, 2009

    Babcock & Brown Power (BBP) announces financial close of the sale of its remaining interest in the Kwinana Power Station to an entity related to ERM Power Pty Limited. Proceeds of $50 million have been received today and an amount of up to $13.2 million has been deferred until the third quarter of 2009. The amount of the deferred payment is subject to the performance of Kwinana through to 30 June 2009. Ross Rolfe, BBP CEO said  “We are pleased to announce financial close on the sale of Kwinana, which has enabled full repayment of the BBPH debt facility. BBP continues to make progress with the wider sales process and will provide an update to security holders in the fourth quarter of FY2009.” 

    http://www.bbpower.com

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    Stephen Mayne looks at upcoming AGMs

    Monday, March 30th, 2009

    There are some noteworthy AGMs coming up in April and May, and that means opportunity for Stephen Mayne to shine a torch at executive salaries and boardroom behaviour.

    In this opinion piece for Fairfax papers, Mayne predicts the excessive salaries being paid to key Lowy family executives will trigger shareholder revolt at the Westfield AGM. Protest votes are also expected to increase due to the heavy weighting of the board in favour of either people called Lowy or their buddies.

    Mayne also questions the eligibility of AMP board candidates, and speculates that Sir Rod Eddington will be re-elected to the Rio board only due to Chinalco s voting power.

    Click here to read the full article.

    Stocks for your watchlist:

    Westfield Holdings: WSF.AX (ASX)
    AMP Ltd: AMP.AX (ASX); AMP.NZ (NZX)
    Rio Tinto: RIO.AX (ASX); RIO.L (LSE)

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