around the traps ... with the ferret

Around the Traps ... with THE FERRET
08:19, Tuesday, 26 September 2006

Sydney - Tuesday - Sep 26: (RWE Australian Business News) -
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NULLARBOR HOLDINGS (NLB) is jumping about again, up 15c to $1.25
yesterday, on higher turnover, for no apparent reason.

About a month ago the shares mysteriously soared from 98c to
$1.50 and the company told the ASX it knew of no reason.

A few days later it linked with a Singaporean company whose
expertise could speed up a feasibility study on a biodiesel project.

However, the shares then went on to fall as low as $1.09.

*****

What was behind the rush for OXIANA (OXR) yesterday that pushed
the price up from an opening $2.58 to a day-high close at $3, up 44c?

Must have been the rise in world gold price.

Surely it wasn't Ferret's write-up in yesterday's column on the
company's Open Briefing with Corporatefile?

The market had a couple of hours to react to that on Friday
afternoon.

Just to recap, managing director Owen Hegarty said the company
had its "Prominent Hill to other existing and potential new copper/gold
mines in terms of volumes, grade, recoveries, concentrate quality,
capital costs, operating costs and fiscal conditions - and Prominent
Hill came out a very competitive project on all measures".

Oxiana has a 12-month high of $3.82.

*****

The punters appreciated the strong adjectival comment from
SHANNON RESOURCES (SHA) yesterday.

It said drilling at the Brilliant Prospect had produced
"exceptional" gold intersections - including 54m at 2.88 g/t gold.

It was likely to develop quickly into a producing goldmine, it
said.

The shares rose 15c to 55c and closed at 48c.

Shannon joined the lists on July 11 at 30c and climbed straight
to 65c seven days later.

*****

Talking of new listings, Friday's debutant BLUGLASS (BLG) is
starting to make some serious paper profits for shareholders.

The producer of a key material used in semiconductors saw its
20c shares open at 28.5c on Friday and close at 31.5c.

They opened at 35c yesterday and closed at 39c.

*****

Seems we're going have to keep an eye on Toronto Stock Exchange
(TSX) as well.

INDO MINES (IDO) yesterday reported to the the ASX that Northern
Peru Copper had advised the TSX of further significant gold drill
results from the latest 13 diamond holes drilled over the Hilorico gold
prospect, 1km from its large Galeno copper-gold-molybdenum porphyry
deposit in northern Peru.

Indo advised shareholders to refer to Northern Peru's
announcement, which is dated September 14.

Some shareholders may already have been on to the case because
Indo has risen from 17c to 22c since then.

It was untraded yesterday.

Indo Mines, through its subsidiary Terrace Gold, has a 0.5 per
cent Net Smelter Return over the El Molino concession, which contains
all of the Hilorico gold target and a portion of the Galeno Cu-Au-Mo
deposit.

*****

Last Tuesday we suggested that if the old sharetrading saying
was buy straw hats in winter, then why not buy wine stocks in a grape
glut ... and pondered if this had been behind a rise in McGUIGAN SIMEON
WINES (MGW).

The shares had just risen 27c in two days to $2.22.

They immediately fell to $2.16 to blast our new theory into
little pieces.

But, wait, it might be right after all.

McGuigan resumed climbing the next day and yesterday rose 33c to
$2.83 before closing at $2.80.

The ASX even queried it but the company could advance no reason
for the rush.

ENDS

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