Archive for April, 2011

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    • ASX Company News: Go Connect To Launch Asian Language Internet TV

    Wednesday, April 20th, 2011

    GoConnect (GCN) is pleased to announce it has joined forces with Netbay Internet, an Australian based Broadband Service provider, to launch a number of Asian language IPTV channels on GoConnect’s IPTV network of properties.

    GoConnect’s network of IPTV properties have expanded rapidly since July 2010 when the Company’s uctv.fm music IPTV channel went live on the Sony Bravia Internet Video Service. Since then the network has expanded in both distribution platforms as well as content channels.  The GoConnect IPTV network includes web TV on www.uctv.fm, the LG Netcast IPTV platform, and the mobile version of uctv.fm on most major smartphone brands accessible through their mobile browsers and via the uctv.fm app on Windows Phone 7.  A recent addition to the network is The Business Show channel hosted by Walkley award winning journalist Adam Shand and is now live on www.thebusinessshow.tv on the web as well as on smart phones.

    Netbay Internet is a Victoria based broadband ISP that provides IPTV service through its subsidiary company MyiTV. MyiTV is currently providing Triple-Play Services: ADSL2+ Broadband, VOIP and IPTV subscription service of Cantonese and Mandarin Speaking television channels through its multi-casting IPTV network under its agreement with Television Broadcasting Australia (“TVBA”).   TVBA is the Australian subsidiary of TVB, the dominant free to air TV network in Hong Kong.

    www.goconnect.com.au

    http://www.traderdealer.com.au/Fundamentals/gcn

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    ASX Company News: Avenue Resources To Acquire Magdalena Coal

    Wednesday, April 20th, 2011

    Avenue Resources Limited (AVY) is  pleased to announce that it has signed a conditional agreement to acquire Magdalena Coal Inc (“Magdalena”), a private company associated with the Forbes & Manhattan Group. Magdalena Coal has agreements to acquire the El Contento and El Carmen coal exploration properties (“The Projects”) in northern Colombia.

    The commercial terms of the acquisition, which is subject to Avenue shareholder approval, includes the issue of 10 million shares on completion, following a minimum $7.5 million capital raising at 25 cents, then three further tranches of shares on completion of milestones involving drilling success and independent delineation, classification and reporting of JORC compliant mineral resources.

    In addition, Avenue has a three year exclusivity agreement with the Vendors, whereby if the Vendors, its existing shareholders, any associates or related corporations obtain an interest in or a right to obtain an interest in a coal project wholly or partially within Colombia and within 100km of the Projects it must be offered to Avenue at the cost incurred by the party acquiring the interest.

    The Board is also pleased to announce that Mr Marcelo Albuquerque is to be appointed General Manager  – Coal on completion of the transaction. Mr Albuquerque is a geologist with 20+ years experience, including four years as Exploration Manager for Vale Colombia with a focus on coal exploration.

    www.avenueresources.com.au

    http://www.traderdealer.com.au/Fundamentals/avy

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    Share Purchase Plan: Adelaide Energy

    Wednesday, April 20th, 2011

    Adelaide Energy (ADE) announced on the 18/4/2011 that they would be conducting a Share Purchase Plan to raise additional capital. The record date was the 12/4/2011 on which shareholders must own the share to participate in the SPP. The closing date is  3/5/2011.  Shares will be issued on 17/5/2011 and begin trading on 19/5/2011.   A maximum of $15,000 can be purchased by each shareholder at $0.14.

    Discount :  6.7% Liquidity : Poor Profitability : Ok  Stability : Poor

    adelaideenergy.com.au

    *Note: Discount is based on the closing price on the 19 April 2011.

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    Share Purchase Plan: Indochine Mining

    Wednesday, April 20th, 2011

    Indochine Mining (IDC) announced on the 7/4/2011 that they would be conducting a Share Purchase Plan to raise additional capital. The record date was the 6/4/2011 on which shareholders must own the share to participate in the SPP. The closing date is  12/5/2011.  Shares will be issued on 18/5/2011 and begin trading soon after.   A maximum of $15,000 can be purchased by each shareholder at $0.30.

    Discount :  -1.7% Liquidity : Poor Profitability : Ok  Stability : Poor

    www.indichinemining.com

    *Note: Discount is based on the closing price on the 19 April 2011.

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    ASX Company News: MDS Financial Group Acquires MINC Financial Services

    Wednesday, April 20th, 2011

    MDS Financial Group Limited (MWS) announces that an agreement has been reached between MINC Financial Services Pty Ltd and MDS Financial for the acquisition of certain assets of MINC.  The agreement provides for the acquisition of the online trading business of MINC in its entirety including its current national client lists, the private client business and advisors in Townsville, Bunbury, Gold Coast and Melbourne. The acquisition does not include MINC’s debts, liabilities and infrastructure.

    This acquisition will ensure continuity for MINC clients, all trades in place will be able to be settled and open positions will be closed with clients able to resume trading as normal.

    This acquisition marks another exciting step forward for MDS Financial following the recent purchase of stockbroker D2MX, cementing its role as a genuine competitor in both the wholesale stock broking and online trading spaces. D2MX recently entered into a 5 year exclusive agreement with Penson to provide clearing services for equities and exchange traded options with Penson and this relationship has enabled all stakeholders to work together to provide the best solution in what was a critical environment.

    “This acquisition continues MDS’s push into the share broking industry and introduces some very capable people to the MDS business,” said Mr. Damian Isbisiter, CEO Corporate and Trading.  “We have the experience to handle the integration of this purchase with our existing broking business to provide the existing clients of MINC with a similar or even better trading experience.”

    MDS Financial Group Ltd is one of Australia’s premier suppliers of online trading, charting and analysis software, share market data, wholesale trading and corporate advisory services. MINC Financial Services was a full service financial advisory and stock broking firm offering personal financial advice, online trading and wealth management solutions.

    www.mdsfinancial.com.au

    http://www.traderdealer.com.au/fundamentals/mws

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    ASX Company News: Austbrokers Holdings Acquires Interest In Country Wide Insurance Brokers

    Wednesday, April 20th, 2011

    Austbrokers Holdings Limited (AUB) advises that it has acquired a 50% interest in Northlake Holdings Pty Ltd trading as Country Wide Insurance Brokers. The initial payment is $3.0 million with further payments in 2012 and 2013 based on the performance of the business. The initial payment was funded from existing cash reserves. Country Wide has its head office in Perth and operations in Mandurah, Bunbury,  Moora, Geraldton, Narrogin, Northam, Katanning and Cunderdin.

    Mr Ray Ball, Managing Director stated “We are delighted to welcome Austbrokers as a shareholder.  Their  involvement  as  our  new  partners  will  enable  the  business  to  continue  along  its  already successful course. Apart from the business benefits that Austbrokers will provide, Country Wide becomes part of a large like-minded equity group which will give further impetus to our current growth plans. We chose the Austbrokers  model  because  it  gave  our  remaining  shareholders,  our  staff  and clients future certainty and continuity of the business in its current form” Mr  Lach  McKeough,  Austbrokers’  CEO,  commented  that  “The  addition  of  Country  Wide  will  increase  the Austbrokers’  network  of  broking  businesses  to  42  and  provide  a  greater  regional  reach  in  rural  Western Australia. We look forward to working with Ray and his team to focus on income growth and help drive bottom line improvements in the future.”

    www.austbrokers.com.au

    http://www.traderdealer.com.au/fundamentals/aub

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    ASX Company News: Leighton Secures Large Mining Contract In Botswana

    Wednesday, April 20th, 2011

    A mining joint venture, consisting of Leighton International Limited (LEI), Basil Read Mining and Bothakga Burrow of Botswana, has secured a 66 month US$586 million mining service contract with Debswana in Botswana. The contract is for the Cut 8 Phase 2 services at the Debswana diamond mine in Jwaneng, Botswana. The JV will provide mining services to deliver the Cut 8 Phase 2 contract, including mine scheduling, drill and blast, truck and shovel waste removal and limited ore mining. Over the full term of the contract, the JV will move 156 million cubic meters of material.

    Leighton Holdings CEO, David Steward, said this contract is Leighton’s first mining project in Africa and a major step in the establishment of a business providing services to the mining and the resource sector in selected countries in Southern Africa.

    Debswana is the world’s largest diamond producer by value, with mining operations at Jwaneng, Orapa, Letlhakane and Damtshaa. Jwaneng is one of the richest diamond mines in the world, while the Orapa pipe is the world’s second largest diamond producing kimberlite pipe.  Leighton Holdings Limited (LEI) is the parent company of one of the world’s major project development and contracting organizations. It provides development, construction, contract mining and operation and maintenance services to the infrastructure, resources and property markets.

    www.leighton.com.au

    http://www.traderdealer.com.au/fundamentals/lei

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    Share Purchase Plan: Agri Energy

    Tuesday, April 19th, 2011

    Agri Energy (AAE) announced on the 18/4/2011 that they would be conducting a Share Purchase Plan to raise additional capital. The record date was the 15/4/2011 on which shareholders must own the share to participate in the SPP. The closing date is 19/5/2011. Shares will be issued on 23/5/2011 and begin trading on 23/5/2011.    A maximum of $14,950 can be purchased by each shareholder at $0.013.

    Discount :  18.8% Liquidity : Poor  Profitability : Ok  Stability : Poor

    www.agrienergy.com.au

    *Note: Discount is based on the closing price on the 18 April 2011.

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    Share Purchase Plan: Southern Cross Electrical Engineering

    Tuesday, April 19th, 2011

    Southern Cross Electrical Engineering (SXE) announced on the 18/4/2011 that they would be conducting a Share Purchase Plan to raise additional capital. The record date was the 15/4/2011 on which shareholders must own the share to participate in the SPP. The closing date is 23/5/2011.  Shares will be issued on 31/5/11 and begin trading on 1/6/2011.   A maximum of $15,000 can be purchased by each shareholder at $0.90.

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

    www.scee.com.au

    *Note: Discount is based on the closing price on the 18 April 2011.

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    ASX Company News: Alara Resources To Acquire 50% Of Marjan Project

    Tuesday, April 19th, 2011

    Alara Saudi Marjan Operations Pty Limited (a wholly owned subsidiary of Alara Resources Limited)  (AUQ) has entered into a Shareholders Agreement with United Arabian Mining (“Manajem” in Arabic) Company (Manajem) for Alara to acquire a 50% interest in the Marjan Project licences via the formation of a new joint venture company (JVCo), which will receive transfer of the licences from Manajem and in which Alara will have a 50% shareholding.

    Alara will fund (as loan capital to JVCo repayable out of JVCo’s  net profits) all exploration, evaluation and development costs up to a “decision to mine” (supported by a BFS).  Thereafter, the parties will contribute to all cash calls in proportion to their respective interests in JVCo or be diluted in accordance with an industry standard dilution formula whereby the initial base value shall be set at the capital costs defined under the DFS.

    The Marjan Project exploration licences will  be transferred from Manajem into JVCo upon Alara completing a minimum US$1 million funding into JVCo (within a 2 year term).   A ‘Resource Bonus’ is also payable to Manajem calculated at the rate of US$0.50 per ounce of contained gold (or gold equivalent of copper, zinc and silver) within a JORC Code compliant Indicated Resource determined at a cut-off grade of 0.5g/t gold (or equivalent) and with a minimum average grade of 3g/t gold (or equivalent) delineated within the Project area.

    JVCo will be managed by a Board of Directors with 2 nominees from each of Alara and Manajem and with a Saudi Arabian independent Director to be appointed by agreement of the parties.  A condition precedent to the Shareholders Agreement is the incorporation and registration of JVCO, which is expected to be completed within the next one to two months, and the execution of ancillary agreements arising therein.

    www.alararesources.com

    http://www.traderdealer.com.au/fundamentals/auq

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