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ABN Newswire Stocks to Watch: February 25, 2010
ABN Newswire Stocks to Watch: February 25, 2010
Sydney, Feb 25, 2010 AEST (ABN Newswire) - Pike River Coal Limited (NZE:PRC) (PINK:PKRRF) Wednesday announced an intention to make an equity issue of ordinary shares to raise approximately NZ$50 million. Pike River Coal reported a NZ$14.1 million loss for the six month period ended 31 December 2009. Included is a NZ$4.3 million unrealised exchange gain relating to currency movements on the USD denominated convertible bond, NZ$3.8 million depreciation and amortisation charge and NZ$2.6 million of interest expense. The results for this period reflect the fact that the mine was in development phase.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has posted a robust first half underlying profit of A$25.5 million, down 50 per cent from the previous corresponding period earnings of A$50.7 million. Its dividend policy will be maintained, with an interim dividend of 0.75 cents per share, with the added benefit to shareholders of its being partially franked to 0.10 cents per share.

FerrAus Limited (ASX:FRS) (PINK:FRRAF) has outlined a robust development evaluation for its iron ore project in the Pilbara Region, located some 35km east of BHP Billiton's Jimblebar Mine in Western Australia, with the completion of a positive Scoping Study that indicates a potential A$1.1 billion Net Present Value (NPV) for a project ramping up to 15Mtpa.

Republic Gold Limited (ASX:RAU) said it is now considering a treatment plant throughput rate of 2.7M tonnes per annum and a possible mine life of up to 10 years at this rate, after the recent resources upgrade at the Company's Amayapampa Project in Bolivia. The company also said the appointment of local politician from near-by Llallagua, Senor Jose Pimentel as the new Minister for Mining and Metallurgy is very positive for the Project.

Galaxy Resources Limited (ASX:GXY) (PINK:GALXF) Wednesday announced positive results from a detailed Pre Feasibility Study (PFS) into downstream processing of battery grade electrolytic manganese dioxide (EMD) at its Jiangsu site in the in the Zhangjiagang Yangtze River International Chemical Industrial Park.

Mission NewEnergy Limited (ASX:MBT) (PINK:MIBFF), a biodiesel refiner and one of the world's largest Jatropha plantation companies, sadi it has completed a placement of A$9 million. The placement of 30mn shares, conducted under the company's 15% placement capacity, was completed at a 14% discount to the last traded price or A$0.30 per share (US$0.265).

Contact

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net


Related Companies

Republic Gold Limited        
Pike River Coal Limited          
Mission NewEnergy Limited              
Galaxy Resources Limited        
Ferraus Limited        
Beach Energy Limited             

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