Ferret's MARKET REACTORS - what's hot and what's not Unit Price: Bid: Ask:
01 Jul 2011 12:01:00
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Sydney - Friday - July 1: (RWE Australian Business News) -
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Some share price moves to keep an eye on in the market:
LYNAS CORP (LYC) down 18.5c to $1.795: Says it will implement recommendations from the International Atomic Energy Agency at the Lynas Advanced Materials Plant in Kuantan, Malaysia. Considerable work must be completed before the pre-operating licence is granted.
CARDNO (CDD) up 22c to $5.60: Acquired BEC Engineering, a 100-person electrical engineering firm based in Perth with additional offices in Brisbane and Tanzania, for $45m including a $1m earn-out.
CAZALY RESOURCES (CAZ) up 7.5c to 30.5c: Rebounding from a two-year low. Last major announcement from the company was on May 12.
DOWNER EDI (DOW) up 5c to $3.75: Touched $3.79 after its first Waratah train received a certificate of Practical Completion from RailCorp.
AUSTAL (ASB) up 2c to $2.80: The US Navy exercised contract options funding the construction of the sixth and seventh Joint High Speed Vessels, as part of a 10-vessel program potentially worth more than $US1.6bn. The contract for both vessels is valued at $US313m.
AUSTRALIAN PACIFIC COAL (AQC) up 0.8c to 4.8c: Touched 5.6c. Subsidiary Area Coal has signed a non-binding letter of intent with Rio Tinto (RIO) that sets out terms in respect of a potential acquisition or JV at the Mt Hillalong project in Queensland.
PACIFIC ENERGY (PEA) up 1c to 44c: Signed an agreement with Regis Resources (RRL) to retrofit power stations that supply electricity to the Regis gold processing operations with its Waste Heat Recovery fuel-saving system. Regis is down 2c to $2.46.
DRAGON MINING (DRA) up 10c to $1.31: Preliminary results from the top 133.5m of drillhole KS/JS-128 in the northern portion of the Juomasuo deposit in Finland yielded intercepts of 8.95m at 11.42g/t and 8.4m at 10.06g/t gold.
