daytrades april 16 afternoon, page-2

Thanks HLL

Following mixed leads from offshore markets overnight Aussie stocks are down at midday dragged into the red by declines in the miners on weaker base metals prices.

The government says it will support new laws aimed at claiming back bonuses paid to directors and execs in the event of a misstatement in a companys financial statements. Treasurer Wayne Swan says the new laws are to promote transparent, accountable and responsible remuneration practices.

All Ordinaries index had lost 22 points, or 0.44 per cent, to 5,002 points.

Base metals explorer Liontown Resources Ltd (LTR) and gold miner Ramelius Resources Ltd (RMS) have formed a joint venture to accelerate exploration of Liontowns highly prospective Mt Windsor Gold Project in North Queensland. Ramelius has the opportunity to earn a 60% interest in the gold project by spending $7 million in stages over four years, with a minimum commitment of $1.25 million in the first year. The Mt Windsor Project is located in the same geological province that hosts the multi-million ounce Charters Towers, Ravenswood, Mt Wright and Mt Carlton gold deposits. Shares in Liontown Resources gained 2.94% to $0.07 and shares in Ramelius Resources are steady at $0.515.

The best performing sector at midday is the Health Care index, up 34 points to 9,114.

The worst performing sector is the Energy index, down 238 points to 15,939. Shares in AWE fell 6.45% to $2.61.

Gold is trading at US$1,155.50 an ounce and the Aussie dollar is trading at 93.08 US cents.

MORNING TRADES

PVE: .775c/.805 and .795c/.81c

http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/