Yesterday, the Australian share market closed in the red for a second consecutive day with the broader All Ordinaries index ending 38.2 points lower, or 1%, at 3,883.6. The benchmark S&P/ASX200 share index yesterday lost 33.6 points, or 0.9%, to close at 3927.3. The industrial, materials, energy and consumer discretionary sectors sent the market lower.
Overnight US stocks slumped more than 5% as investors worried about the global financial crisis and a US recession, wiping out the gains from the Election Day rally as the problems facing US President-elect Barack Obama dimmed optimism on Wall Street.
The Australian share market had its best day in two weeks yesterday, with the market closing firmly in the black after ovecoming a negative lead from Wall Street.
Legend Mining Limited ("Legend") (ASX:LEG))(PINK: LGDMF) is pleased to advise that it has signed a letter agreement for the lease of its accommodation facilities and airstrip at the Mt Gibson Project in Western Australia to Extension Hill Pty Ltd for a period of 3 years. The lease period commences on 1 July 2008 and Legend will receive rental income of A$500,000 per annum.
Minotaur Exploration Limited (ASX: MEP) is pleased to announce that drilling at the Cormorant Prospect, on EPM 8608 Bendigo Park 50 km north of Cloncurry has intersected broad intervals of copper-cobalt mineralization.
Mineral Sands Limited ("Minsands") (ASX: MSN) has discovered a second prominent zone of significant soil geochemical gold anomalism on the Plumridge Project.
The Directors of U3O8 Limited ("U3O8")(ASX:UTO) wish to announce that the final results from a detailed high-resolution, state-of-the-art aeromagnetic and radiometric survey completed over the Company's 100% owned Clever Mary project, located about 300 km east of Carnarvon in Western Australia have been received.
