Archive for April, 2009

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    • Thursday, 30th April 2009 MDS Morning Wrap

    Thursday, April 30th, 2009

    Presented by Michael Hevern
    MDSFinancial

    Click here to watch the presentation.

    or

    Click here to download the mp3 audio recording (1112Kb).

    General Advice Only

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

    DOW: up 2.1%
    100 Days of Obama (and the DOW up 3%);
    Chrylser Chapter 11 Tomorrow; 1Q GDP down 6.1%

    NASDAQ: up 2.3%
    SP500 Companies 68% Beating Profit Forecasts;
    Geithner: Proposed Planned Purchase of $1 Trn Toxic Assest to Help Sure up Banks

    FTSE: up 2.3%
    3 Month High ;
    DAX up 2.1% & CAC up 2.3%

    NIKKEI: CLOSED
    YEN up; Earnings Concerns; Honda Expects 71% Profit Drop;
    Hang Seng up 2.8%

    Oil: down 0.7% – At $50
    US Inventories Down;
    Recession Easing?

    Gold: down 0.3% ($897)
    Commodities Higher;
    USD Lower

    SPI up 30 (0.9%)
    SPI: Critical Levels: 3800 & 3600

    ASX News
    LGL Controlling Costs; Average price >$900/oz
    MAP 1Q09 Earning down 19%; Traffic falls
    MQG set to hand down 1st annual profit decline in 17 years
    FMG – $644m Hunan Valin; Cuts Productionn 15%
    BrisCon D-day installment payment
    Materials and Energy to recover
    Financials to mixed ANZ disappointed
    Golds to recover
    ASX to open higher; US Up on Beating Earnings

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    US Markets Higher on 29/4/2009

    Thursday, April 30th, 2009
    The US markets closed higher as signs of economic improvement were seen in the latest economic news.   The Dow was up by 168 points or 2.1% at 8185, the  S&P500 was up 18 points or 2.1% at 873 and the Nasdaq was up 38 points or 2.2%  at 1711. 

    Gold and oil both were higher as the US dollar weakened.  Gold was up by $6.90 at $900.50/oz and crude oil was up $1.05  at $50.73/bbl.

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    UXC Limited Share Purchase Plan

    Thursday, April 30th, 2009

    UXC Limited (UXC) announced on the 29/4/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date is 6/5/2009 on which shareholders must own the share to participate in the SPP and the closing date is 26/5/2009.  Shares are expected to be issued on 5/6/2009 and begin trading on 10/6/2009.   A maximum of $10,000 can be purchased by each shareholder at $0.42.  The offer is underwritten up to $4 million.  

    Discount : 11.6% Liquidity : Ok Profitability : Good Stability : Ok

    www.uxc.com.au

    * Note: Discount is based on the closing price on the 29 April 2009.

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    UXC Limited Share Purchase Plan

    Thursday, April 30th, 2009

    UXC Limited (UXC) announced on the 29/4/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date is 6/5/2009 on which shareholders must own the share to participate in the SPP and the closing date is 26/5/2009. Shares are expected to be issued on 5/6/2009 and begin trading on 10/6/2009. A maximum of $10,000 can be purchased by each shareholder at $0.42. The offer is underwritten up to $4 million.

    Discount : 11.6% Liquidity : Ok Profitability : Good Stability : Ok

    www.uxc.com.au

    * Note: Discount is based on the closing price on the 29 April 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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    RIM Capital Share Purchase Plan

    Thursday, April 30th, 2009

    RIM Capital (RMC) announced on the 29/4/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date was 29/4/2009 on which shareholders must own the share to participate in the SPP and the closing date is 5/6/2009.  Shares are expected to be issued on 19/5/2009 and begin trading soon after.   A maximum of $5,000 can be purchased by each shareholder at $0.05 or a discount of 20% to the Volume Weighted Average Price (VWAP) prior to the issue date.

    Discount : 9.1% Liquidity : Poor Profitability : Ok Stability : Poor

    www.rimcapital.com.au

    * Note: Discount is based on the closing price on the 29 April 2009.

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    RIM Capital Share Purchase Plan

    Thursday, April 30th, 2009

    RIM Capital (RMC) announced on the 29/4/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date was 29/4/2009 on which shareholders must own the share to participate in the SPP and the closing date is 5/6/2009. Shares are expected to be issued on 19/5/2009 and begin trading soon after. A maximum of $5,000 can be purchased by each shareholder at $0.05 or a discount of 20% to the Volume Weighted Average Price (VWAP) prior to the issue date.

    Discount : 9.1% Liquidity : Poor Profitability : Ok Stability : Poor

    www.rimcapital.com.au

    * Note: Discount is based on the closing price on the 29 April 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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    Regal Resources Signs Access Agreement

    Thursday, April 30th, 2009

    Regal Resources  Limited  (RER) is pleased to  announce,  its subsidiary Magma, has  signed an  agreement  with the  landowners  who  hold  title  over  the Oak  Park  location  who  have  agreed  to  grant  Magma  exclusive  and  unimpeded  access  to  the  site  where  the  Pilot  Test  for  the Underground Coal To Liquids (UCTL) is planned to occur.  

    The agreement is for a 12 month period and gives Magma sufficient time to complete construction works and the active operation phase to undertake the UCTL Pilot Test, which is anticipated to begin in  the fourth quarter of  2009.   The UCTL Pilot Test will be aiming  to determine the commercial applications  of  converting  low  rank  coals  (brown  coal/lignite)  into  long  chain  hydrocarbons  (crude  oil)  in  an  “in  situ” location. This avoids traditional methods of mining or removing coal from the coal seam environment and treating such coals at surface within capital and energy intensive plants. The UCTL process intends to extract the crude oil products from within the coal seam utilizing conventional and widely accessible oil extraction techniques.

    The  Oak Park  location has five existing wells that are  in  good condition  for testing of  the  UCTL process and were drilled and  completed during 2002 as  part of a coal  seam methane test at this site.  The  wells  have  been  well  maintained  and  will  require  little  or  no  modification  for  use  in  the  UCTL  Pilot  Test. Regal is  currently  a  20%  shareholder  in  Magma  however  shareholder  approval  is  currently  being  sought  (late  May 2009) for Magma to become a 100% fully owned subsidiary of Regal. 

    www.regalresources.com.au

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    CathRX TO Commence Clinical Trials in Asutralia

    Thursday, April 30th, 2009

    Cardiac catheter manufacturer CathRx Limited (CXD) today announced the John Hunter Hospital had joined its Australian clinical trial to gather data for Australian Therapeutic Goods Administration (TGA) approval for its quadrapolar and decapolar diagnostic catheters. John Hunter Hospital is a leading teaching hospital and major cardiology and cardiac surgery centre. CathRx’s Australian approval trial began at Westmead Hospital in Sydney in November 2008. 

    CathRx Chief Executive Officer Neil Anderson said that while the catheters had already been on sale in Europe, the Australian trial was being conducted to enable CathRx to file for Australian approvals. The protocol at John Hunter Hospital calls for use of CathRx’s diagnostic catheters undergoing electrophysiology procedures that require the use of diagnostic catheters. There will be an equal number of CathRx and control patients. The primary end-point is a confirmation of diagnostic capability. 

    CathRx is a medical device company which manufactures and sells advanced cardiac catheter systems for the treatment of cardiac arrhythmias. CathRx’s proprietary diagnostic and therapeutic catheters are designed to give physicians the tools to successfully treat patients with speed, safety and precision. CathRx’s first diagnostic products are now on sale in Europe. 

    www.cathrx.com.au

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    Straits Resources Completes Strategic Alliance

    Thursday, April 30th, 2009

    Straits Resources (SRL) is pleased to announce financial close of its strategic alliance with the PTT Group of Companies via the sale of a 60% interest in SRL’s wholly owned subsidiary, Straits Bulk & Industrial (SBI), for up to US$335 million as announced to the market on 23 March 2009. 

    The strategic alliance between SRL and PTT will deliver the following benefits:

    • Achieves SRL s vision to establish a global coal vehicle with the financial capability to actively pursue opportunities in the thermal coal sector;
    • Introduces a motivated and financially capable major shareholder to support Straits Asia Resources Limited s future growth and development;
    • Realizes significant value for a portion of SRL s coal assets whilst providing SRL with continuing economic interest and management influence;
    • Re weights SRL s portfolio across bulk commodities, precious metals, base metals and other investments, diversifying SRL s exposure to commodity price, country and approval risks;
    • Strengthens SRL s financial position to pursue strategic acquisitions in the resources sector at a low point in the cycle;
    • Provides the opportunity for a return of capital to SRL shareholders; and
    • Facilitates a potential re-rating of the SRL share price as a result of unlocking the value disconnect between SRL s market capitalization and the implied value of the 47.1% stake in SAR. 

    SRL has received the upfront cash completion payment of US$220 million from PTT. The remaining performance payment of up to US$115 million relates to certain matters in connection with reserve upgrades in relation to the mine located on Sebuku Island, South Kalimantan, Indonesia controlled and operated by SAR or as otherwise agreed between PTT and SRL. The performance payment is expected to be realized during 2009. Following receipt of the US$220 million cash proceeds, SRL has repaid the A$45 million Debt Facility provided by ANZ and Macquarie Bank Limited in full. The Board of SRL is currently reviewing the funding requirements of SRL going forward. As previously foreshadowed, SRL expects to return approximately one fifth of the total consideration received by SRL from the transaction to shareholders. 

    www.straits.com.au

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    Wednesday, 29th April 2009 MDS Morning Wrap

    Wednesday, April 29th, 2009

    Presented by Michael Hevern
    MDSFinancial

    Click here to watch the presentation.

    or

    Click here to download the mp3 audio recording (942Kb).

    General Advice Only

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

    DOW: flat -0.1%
    Consumer Confidence at 5 Month High;
    BoA & Citi May Need $60bn to 70bn according to the Stress Test

    NASDAQ: down 0.3%
    SUN 3Q Loss Widens ($210m Loss);
    IBM Raises Dividend;

    FTSE: down 1.7%
    Resource Stocks Weigh ;
    DAX down 1.9% & CAC down 1.7%

    NIKKEI: down 2.7%
    YEN up; Earnings Concerns; Honda Expects 71% Profit Drop;
    Hang Seng down 1.9%

    Oil: down 1.1% – At $49
    Swine Flu Concerns

    Gold: down 1.5% ($890)
    Commodities Lower;
    USD Higher

    SPI up 29 (0.8%)
    SPI: Critical Levels: 3800 & 3600
    ANZ CEO Smith [March] rude shock

    ASX News
    ANZ 1H09 net profit -28%; cash profit -43% (incl one offs); bad debt provisions $1.4bn
    QAN Merrill says pullback buying opportunity
    BrisCon D-day installment payment
    Materials and Energy to weigh
    Financials to weigh on earnings updates
    Golds to weigh
    ASX to open higher; US Flat on Flu

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