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"Correlations among stock price movements remained lower than in 2012 as company
specific events played a greater role in price formation.

The three stocks that made the largest positive contributions to investment performance
were 3D Oil, Pluton Resources and Sundance Resources. In each case, the company was in the latter stages of putting longer term financial or strategic partnerships in place.

Pluton Resources announced details of an agreement that will see an investor take 30%
of the company and fund the major part of its Cockatoo Island iron ore development.
Sundance Resources announced important steps toward finalisation of government
permitting applications that are preconditions to a bid by Hanlong Mining for all the
shares in Sundance Resources"

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