Ferret's MARKET REACTORS - what's hot and what's not
17 Jun 2011 12:27:00
39 Views 0 comments
Sydney - Friday - June 17: (RWE Australian Business News) -
**************************
Some share price moves to keep an eye on in the market:
WOODSIDE PETROLEUM (WPL) down $1.70 to $40.71: Warned that schedule changes for the Pluto and NWS Oil Redevelopment projects would affect its 2011 production target, now 62-64m barrels of oil-equivalent. The Pluto LNG Project cost was expected to blow out $900m to $14.9bn.
FORTIS MINING (FMJ) down 10.5c to $1.455: Reinstated after responding to a news article this week. Fortis said it had not reached any agreements for further investments or acquisitions in Kazakhstan.
GALAXY RESOURCES (GXY) up 1.5c to 78.5c: Opened at 80.5c. Will upgrade its budgeted lithium price forecasts after Rockwood Holdings' (NYSE:ROC) Chemetall announced a price rise of up to 20pc for lithium salts and increases on lithium metal battery grade.
ARDENT LEISURE GROUP (AAD) up 3c to $1.365: Announced an estimated distribution of 5c for the June half, bringing total payout for the year to 11.5c.
NIDO PETROLEUM (NDO) down 3.5c to 6c: Plumbed 5.6c after reporting that while indications were that the good-quality limestone reservoir section in the Gindara-1 well was water-bearing, it had not been possible to determine if the fluids were hydrocarbons or water. Kairiki (KIK), also involved in SC 54B, is down 2c to 1c.
NAVITAS (NVT) up 8c to $3.94: Sold its SAE Dubai business to Media Zone Investments, a company in the twofour54 group and wholly owned by the Media Zone Authority - Abu Dhabi, for $US7m. Navitas also entered into a trademark and curricula licence agreement with twofour54.
HASTIE GROUP (HST) down 2.5c to 14c: The $40.8m institutional component of its 2.85-for-1 offer and $42.8m placement to institutions will result in the issue of 596.9m new shares at 14c. About 71.4m new shares were subscribed for under the bookbuild, priced at 14c.
TRANSIT HOLDINGS (TRH) down 7c to 62.5c: Raised $9.5m through a placement of 17m shares at 56c to institutional and sophisticated investors. Some of the funds raised would go towards the drilling of four wells at the Paradox Basin Potash Project in SE Utah.
