Archive for April, 2010

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  • Australian Foundation Investment Share Purchase Plan

    Thursday, April 22nd, 2010

    Australian Foundation Investments  (AFI) announced on the 21/4/2010 that they would be conducting a Share Purchase Plan to raise additional capital. The record date was the 23/4/2010 on which shareholders must own the share to participate in the SPP. The closing date is 26/5/2010.  Shares will be issued soon after.   A maximum of  $15,000 can be purchased by each shareholder at $4.90 or a 2.5% discount to the volume weighted average price (VWAP).

    Discount : 5.4%  Liquidity : Good Profitability : Good  Stability : Good

    www.afi.com.au

    * Note: Discount is based on the closing price on the 21 April 2010.

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    Noble Mineral Resources Share Purchase Plan

    Thursday, April 22nd, 2010

    Noble Mineral Resources (NMG) announced on the 21/4/2010 that they would be conducting a Share Purchase Plan to raise additional capital. The record date is the 11/5/2010 on which shareholders must own the share to participate in the SPP. The closing date is 4/6/2010.  Shares will be issued on 15/6/2010 and begin trading soon after.   A maximum of  $15,000 can be purchased by each shareholder at $0.30.  The offer is underwritten up to $2 million.

    Discount : 29.4%  Liquidity : Poor Profitability : Ok  Stability : Poor

    www.nobleminres.com.au

    * Note: Discount is based on the closing price on the 21 April 2010.

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    AtCor Medical Signs New Contract For Blood Pressure Monitor

    Thursday, April 22nd, 2010

    AtCor Medical (ACG), the developer and marketer of the SphygmoCor® system which measures central blood pressures and arterial stiffness non-invasively announced that it has signed a new US$265,000 contract with a major international pharmaceutical company. This is an extension to an existing contract to supply SphygmoCor systems and clinical trials support services. A large portion of the contract value will be recognised in the current financial year.

    During the past 120 days, AtCor has signed US$1.53m in new pharmaceutical contracts. The company has an ongoing pipeline of new business opportunities and anticipates additional pharmaceutical contracts in the current financial year.

    “This contract extension has been awarded well in advance of contract expiration,” said Duncan Ross, CEO of AtCor Medical. “The new agreement demonstrates that AtCor’s growing reputation for high levels of customer satisfaction is being recognised through expanded business with long-term clients, and reinforces AtCor’s strong market position as the leading provider of non-invasive central blood pressure measurement in clinical trials.

    With the US Healthcare Reform legislation now having been signed into law, the uncertainty as to key provisions and how they may affect the pharmaceutical industry has been clarified. AtCor expects this to translate into improved deal flow from this sector.

    www.atcormedical.com

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    DoloMatrix Enters JV With McGill University To Create Carbon NanoTubes

    Thursday, April 22nd, 2010

    DoloMatrix (DMX) through its wholly owned subsidiary, SRL Plasma today announced the signing of a technological agreement with Montreal-based McGill University to produce carbon nanostructures and nanotubes using thermal plasma.

    The agreement is an option to license and develop technology to adapt the Plascon® process using McGill’s expertise and patented technology for producing nanotubes. It is expected to result in the production of commercially viable quantities of high quality carbon nanotubes.

    McGill University was selected by SRL Plasma after an extensive appraisal of the experience of numerous research facilities and technologies in producing carbon nanotubes in gaseous phase conditions, such as those that occur during the Plascon® process and in McGill’s patented technology.

    Carbon nanotubes are the lightest and strongest fibres known. They are increasingly used in applications where materials having light weight and high strength are essential. Those include aircraft components, Formula 1 cars and high-end sporting equipment.  Carbon nanotubes are typically produced by growing the nanotubes on an expensive substrate. They can also be produced, however, in a gaseous phase without the need for a substrate. Production of carbon nanotubes in a gaseous phase could result in nanotubes that are purer and cheaper than those produced by conventional methods.

    www.dolomatrix.com

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    Commonwealth Bank In JV With Vietnam International Bank

    Thursday, April 22nd, 2010

    Vietnam International Bank (VIB) and the Commonwealth Bank of Australia (CBA) have entered into agreements to form a strategic partnership, which at end of completion, will see the Commonwealth Bank take a 20% stake in VIB (subject to regulatory approval).   This investment represents a significant step-up in an association which began in 2009, when VIB and Commonwealth Bank were engaged in a  “Technical Assistance Program‟. This involved a team of banking experts from Commonwealth Bank working with VIB to identify skills gaps and opportunities in critical business areas including retail banking, risk management, human resources, IT, treasury and finance.

    As part of the strategic partnership, a longer-term “Capability Transfer Program‟ will be established to further enhance the operational and commercial capabilities of VIB. The two banks will also engage in an ongoing working partnership to investigate other business opportunities moving forward.  The Commonwealth Bank has extensive experience in Capability Transfer Programs (CTP) with a strong track record of commitments in China. Most notably its five year CTP with Bank of Hangzhou has seen that business grow to become China‟s number one City Commercial Bank (CCB) ahead of more than 120 CCB peers. Commonwealth Bank has also lifted the business performance of Qilu Bank in Jinan where it holds a 20% stake and where it provides substantial capability transfer.

    Mr Han Ngoc Vu, Chairman of VIB said, “The Commonwealth Bank‟s track record in China is a great indication of how it works with its strategic partners in Asia to create long-term sustainable value to a business. “For VIB, a Strategic Partnership and CTP with such a strong and trusted financial institution as the Commonwealth Bank, will help us improve our competitiveness in what is a fast growing financial services industry in Vietnam.”

    www.commbank.com.au

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    Macro and Technical Analysis of the Dow Jones, XJO and ASX Top 50.

    Wednesday, April 21st, 2010

    Dear Members,

    I have updated MDS Radio with a new recording covering the Dow, XJO and the ASX Top 50.

    Click here to view.

    Best Regards,

    Leon Hinde.

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    Wednesday, 21st April 2010 Morning Wrap

    Wednesday, April 21st, 2010

    Presented by Michael Hevern
    MDSFinancial

    Click here to watch the presentation.

    or

    Click here to download the mp3 audio recording (819Kb).

    General Advice Only
    ***********************************************
    In this morning’s wrap…

    SP500 up 1.3% – above 1200
    Financials & Miners Recover;
    Goldmans Net Rev up 30%, EPS up 50%

    NASDAQ flat
    Apple Profits up 90% – Income/Sales Beat

    Dollar Index: Just Above Pivot at 81
    US$ Lower;
    A$ up 93.25

    FTSE: up 0.7% – Towards 22 month highs again
    European Airlines Begin to Fly
    DAX & CAC up 1.2%

    CHINA: Steady
    China: Banks Tightening Concerns Ease;
    Hang Seng up 1%;

    Oil: up 0.2% ($82)
    Airline Demand Concerns

    Gold: up 0.5% ($1140)
    Commodities Higher;
    Dollar Lower

    SPI Futures up 44 (up 0.5%)
    Overseas Markets Rebound

    ASX News
    NAB – to fight for AXA (may sell Aviva assets)
    BHP – record iron ore production up 11%
    NCM – seeks LGL “new data”
    SEV – gets go-ahead for $3.3bn Westrac merger

    US Reporting continues this week: McDonalds
    ASX – to open higher
    US & UK/Europe – rebound

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    BHP digs up possible corruption

    Wednesday, April 21st, 2010

    In between production figures and progress updates, today’s BHP Billiton Exploration and Development Report also casually mentions the company’s participation in a possible corruption investigation by the US Securities and Exchange Commission.

    The report states BHP has “disclosed to relevant authorities evidence that it has uncovered regarding possible violations of applicable anti-corruption laws involving interactions with government officials”.

    The investigation pertains to “certain terminated minerals exploration projects”, which The Age reports has nothing to do with activity in China, or BHP’s marketing activities and sale of products.

    BHP Share Price

    BHP Billiton
    ASX Code: BHP

    Chart source: Rapid Trader. Free live ASX data through Rapid Trader until December 2010!

    For more on this business news story:

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    Progen Pharmaceuticals Secures Manufacturing Contract

    Wednesday, April 21st, 2010

    Progen Pharmaceuticals Ltd (PGL) are pleased to announce that the company’s wholly owned subsidiary PharmaSynth Pty Ltd, a contract biopharmaceuticals manufacturing organisation, has secured a new contract with Hunter Immunology Limited. While the details of this agreement are confidential this new contract further validates PharmaSynth Pty Ltd as an important Australian based contract manufacturer with expertise in recombinant proteins, bacterial and viral vaccines, whole cell therapeutics and small molecule synthesis.

    Hunter Immunology Ltd is a late stage biopharmaceutical company focused on respiratory markets. Its lead product, HI-164OV is an orally-administered immunotherapeutic aimed at reducing the number and severity of acute bronchitis in moderate to severe COPD (Chronic Obstructive Pulmonary Disease).  “This new contract continues our good relationship with PharmaSynth which successfully produced material for our Phase IIa trial and will provide the active ingredient for our forthcoming Phase IIb trial” said Dr Kevin Healey, Managing Director of Hunter Immunology Ltd.

    “”We are pleased that our team at PharmaSynth Pty Ltd has been able to secure this important contract. We look forward to further collaborations with other Australian biopharmaceutical companies and with the recent changes to the R&D Tax credit there are now even more incentives in place for PharmaSynth to work with other companies ” said Sue MacLeman, Chief Executive Officer, Progen Pharmaceuticals Ltd and Managing Director PharmaSynth Pty Ltd.

    PharmaSynth has also been engaged to assist in the manufacture of Progen’s new clinical candidate PG545 for a Phase 1 trial expected to start later this year. As part of this, PharmaSynth is expanding its small molecule synthesis capabilities with the purchase of a pilot scale glass reactor train and the installation of a small fill and finish suite to manufacture sterile lyophilised vials.

    Les Tillack, PharmaSynth’s CEO said that “This increase in our small molecule synthesis capabilities allows us to actively pursue the early phase synthetic molecule market which we see as an actively growing sector of the Biotech industry. This combined with over 15 years of experience in biopharmaceuticals allows us to potentially service most of the biotech projects in Australia and increasingly overseas.”

    www.progen-pharma.com

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    Metal Storm Wins US Non Lethal Weapons Contract

    Wednesday, April 21st, 2010

    Further to the Company’s announcement earlier today, Metal Storm Limited (MST) advises that it was in the process of confirming additional details and completing its usual approval protocol to announce the material that had been received overnight, when it was informed that details of the contract award were available on a US website which the Company does not control. In that circumstance the Company immediately released the facts available.

    The Company now provides further detail on the US$1,477,860 contract awarded today to Metal Storm Inc (MSI) by the United States Marine Corps for the Mission Payload Module – Non Lethal Weapon System program.  The Mission Payload Module – Non Lethal Weapon System (MPM-NLWS) is a new weapon system that is to provide the Marine Corps with improved counter-personnel, non-lethal capabilities.

    The weapon is to launch a new non-lethal munition that will incapacitate personnel through light, sound and pressure stimuli. It will provide a longer range, greater area coverage, extended duration, and better scalability of effects than current non-lethal weapon systems. It is to be mounted onto the Marine Corps Transparent Armor Gun Shield (MCTAGS), on the HMMWV “Humvee” vehicle.

    MSI will be taking advantage of the configurability of its FireStorm™ architecture and Metal Storm’s unique, patented stacked projectile technology to deliver a lightweight, multi-barrel weapon and munition system to meet the unique needs of the program.  The MPM-NLWS will be used for controlling crowds, denying/defending areas, controlling access and engaging threats. It will incapacitate its targets and provide increased standoff distance for the protection of friendly forces.

    The initial award is a Cost Plus Fixed Fee Contract for Technology Development Phase, which will evaluate demonstrated payload effectiveness, munitions fusing/functioning and weapon platform compatibility.  Metal Storm Limited CEO Dr Lee Finniear noted how important this contract was to the Company as it forms part of a funded US DOD weapon procurement program.

    “We congratulate MSI on winning this contract against full and open competition”, Dr Finniear said.  “Metal Storm technology is ideally suited to the delivery of a high volume of munitions from lightweight vehicle mounted launchers, and we believe MSI can deliver a highly differentiated solution to meet MPM-NLWS requirements”

    “We understand that if successful the Technology Development Phase will be followed by future phases including the production of MPM-NLWS systems for deployment to warfighters” he said.

    The contract will be delivered over 12 months.

    www.metalstorm.com

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