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moscowman

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  1. moscowman

    CXS

    A lot more action there today, closed up 8% but was up more than 10 for much of the day. Something is brewing.
  2. http://www.stbarbara.com.au/uploads/tx_rls...tion_to_MMC.pdf presentation up.........
  3. Well, one wakes up in downtown Moscba to discover that gold has broken (for the time being) the $965 resistance and that everything which shines is up. But there aint much up like 'The Saint'
  4. Upside for Lynas one would think...............From todays Telegraph in the UK. http://www.telegraph.co.uk/finance/comment...al-exports.html World faces hi-tech crunch as China eyes ban on rare metal exports Beijing is drawing up plans to prohibit or restrict exports of rare earth metals that are produced only in China and play a vital role in cutting edge technology, from hybrid cars and catalytic converters, to superconductors, and precision-guided weapons. By Ambrose Evans-Pritchard Published: 5:58PM BST 24 Aug 2009 Comments 2 | Comment on this article Grind to a halt: China mines over 95pc of the world?s rare earth minerals, mostly in Inner Mongolia, pictured, which Beijing is drawing up plans to prohibit or restrict exports of A draft report by China’s Ministry of Industry and Information Technology has called for a total ban on foreign shipments of terbium, dysprosium, yttrium, thulium, and lutetium. Other metals such as neodymium, europium, cerium, and lanthanum will be restricted to a combined export quota of 35,000 tonnes a year, far below global needs. China mines over 95pc of the world’s rare earth minerals, mostly in Inner Mongolia. The move to horde reserves is the clearest sign to date that the global struggle for diminishing resources is shifting into a new phase. Countries may find it hard to obtain key materials at any price. Alistair Stephens, from Australia’s rare metals group Arafura, said his contacts in China had been shown a copy of the draft -- `Rare Earths Industry Devlopment Plan 2009-2015’. Any decision will be made by China’s State Council. “This isn’t about the China holding the world to ransom. They are saying we need these resources to develop our own economy and achieve energy efficiency, so go find your own supplies”, he said. Mr Stephens said China had put global competitors out of business in the early 1990s by flooding the market, leading to the closure of the biggest US rare earth mine at Mountain Pass in California - now being revived by Molycorp Minerals. New technologies have since increased the value and strategic importance of these metals, but it will take years for fresh supply to come on stream from deposits in Australia, North America, and South Africa. The rare earth family are hard to find, and harder to extract. Mr Stephens said Arafura’s project in Western Australia will produce terbium, which sells for $800,000 a tonne. It is a key ingredient in low-energy light-bulbs. China needs all the terbium it produces as the country switches wholesale from tungsten bulbs to the latest low-wattage bulbs that cut power costs by 40pc. No replacement has been found for neodymium that enhances the power of magnets at high heat and is crucial for hard-disk drives, wind turbines, and the electric motors of hybrid cars. Each Toyota Prius uses 25 pounds of rare earth elements. Cerium and lanthanum are used in catalytic converters for diesel engines. Europium is used in lasers. Blackberries, iPods, mobile phones, plams TVs, navigation systems, and air defence missiles all use a sprinkling of rare earth metals. They are used to filter viruses and bacteria from water, and cleaning up Sarin gas and VX nerve agents. Arafura, Mountain Pass, and Lynas Corp in Australia, will be able to produce some 50,000 tonnes of rare earth metals by the mid-decade but that is not enough to meet surging world demand. New uses are emerging all the time, and some promise quantum leaps in efficiency. The Tokyo Institute of Technology has made a breakthrough in superconductivity using rare earth metals that lower the friction on power lines and could slash electricity leakage. The Japanese government has drawn up a “Strategy for Ensuring Stable Supplies of Rare Metals”. It calls for `stockpiling’ and plans for “securing overseas resources’. The West has yet to stir.
  5. moscowman

    CXS

    For those who havent seen it yet.  Things are just about on the move. ChemGenex Appoints Mr. Thomas DeZao as Senior Vice President and Chief Commercial Officer Key Appointment in Preparation for U.S. Commercial Launch of Omacetaxine in 2010 MELBOURNE, Australia, and MENLO PARK, California U.S.A. (July 20th, 2009) – ChemGenex Pharmaceuticals Limited (ASX:CXS) announced today that it has appointed Mr. Thomas DeZao to the position of Senior Vice President and Chief Commercial Officer. Mr. DeZao will commence his position immediately and will lead the company’s commercial efforts including sales, marketing and the coordination of manufacturing activities for the launch of omacetaxine in the USA. "Tom is a highly respected executive in the pharmaceuticals industry and we are delighted that he will be joining ChemGenex as he brings the crucial experience and expertise to lead a successful launch of omacetaxine in the U.S. next year,” said Dr. Greg Collier, Chief Executive Officer and Managing Director. “This is an exciting stage in the company’s development; we are on track to complete the submission of our NDA to the U.S. FDA in Q3, 2009 with the European submission to the EMEA due Q4, 2009.” Mr. DeZao has more than 25 years of drug sales and marketing experience and a significant track record of achievement with several pharmaceutical companies who have launched innovative products in the U.S. oncology market. Most recently, Mr. DeZao spent six years at Genitope Corporation as Vice President of Strategic Marketing and Sales, where he created a solid foundation for the commercialization of the MyVax® Personalized Immunotherapy for the treatment of follicular non-Hodgkin's lymphoma (f-NHL). Prior to joining Genitope, Mr. DeZao was the Vice President of Marketing and Medical Affairs at Corixa/Coulter Pharmaceuticals Inc, where he played a pivotal role in the highly successful collaboration with GlaxoSmithKline to develop and launch BEXXAR®. Previously Mr. DeZao held commercial positions of increasing responsibility with Asta Medica Inc. and Chiron Corporation. “I am thrilled to join the ChemGenex team at this pivotal period in the company’s development and look forward to this unique opportunity to plan and implement the launch of a new and important oncology product that has the potential to positively impact the lives of leukemia patients,” added Thomas DeZao.
  6. http://www.stbarbara.com.au/uploads/tx_rls...gic_Review.pdf and http://www.stbarbara.com.au/uploads/tx_rls...ation_Final.pdf Essentially, they are ditching open cut at Southern Cross, but more disturbingly the following........................ Finance As at 30 June 2009, the Company had A$78 million cash at bank, which included A$24 million of restricted cash to secure a bank guarantee facility used predominantly for environmental bonds lodged with the Western Australian government. In February 2009 St Barbara raised A$75 million to provide the Company with a strengthened balance sheet and funds to enable it to partially buy back Convertible Notes at an appropriate discount and/or fund their later potential redemption on 4 June 2010. However, the price of the Convertible Notes materially strengthened following the equity raising and the Company was not able to buy back the large quantity of notes it had intended to, at the originally contemplated discount to the face value. The Company was able to buy back notes with a total face value of A$22.5 million, leaving notes with a face value of A$77.1 million outstanding. At the time of the 31 March 2009 Quarterly Report, which was released prior to the completion of the strategic review, cash flow forecasts indicated adequate cash at bank at June 2010 to cover the potential full redemption of outstanding Notes. However, the Company’s fiscal year 2010 outlook for its financial position in June 2010 has been impacted by proposed Gwalia development work, and reductions in forecast gold production from Gwalia and Southern Cross Operations. At Southern Cross, several projects have been removed from forecasts pending completion of technical review, and at the Gwalia Mine, delays in the progress of mine development work have deferred 30,000 ounces of planned production beyond fiscal year 2010. The current difficult economic climate has precluded the Company from being able to obtain normal working capital and environmental bond guarantee facilities from the traditional banking sector. The financial impact of the strategic review and Three Year Plan described above, the forecast reduced gold production, and planned capital expenditure program for the Gwalia Mine in fiscal year 2010 means that St Barbara is now forecast to have a net cash outflow for fiscal year 2010. Accordingly the Company may not be in a position to finance both its fiscal year 2010 plan and a potential full redemption of the convertible notes on issue (currently A$77.1m) on 4 June 2010. A range of funding options to cover the potential shortfall are currently being considered. These include a full or partial restructure of the outstanding Convertible Notes to remove the 4 June 2010 Note holder option to redeem, refinancing the Company’s bank guarantee facility, divestment of noncore assets and establishing a working capital facility. Discretionary expenditures previously forecast for fiscal year 2010 have been deferred where practicable. Discussions have recently been held with a number of key Convertible Note holders regarding a possible solution to the issue of the outstanding June 2010 option to redeem. The issue remains unresolved as the Company has not yet been able to reach a negotiated position acceptable to some of those Note holders and which has a satisfactory value outcome for St Barbara shareholders. Possible outcomes remain under review. Implementation of the Three Year Plan assumes that any required additional funding is obtained by June 2010.
  7. http://www.mineweb.co.za/mineweb/view/mine...3&sn=Detail Lihir Gold closes its gold hedge book Australian based Tier One gold miner, Lihir Gold, closed out its gold hedge book in the June quarter - yet another major gold miner thereby expressing its confidence in gold's future. Author: Lawrence Williams Posted: Wednesday , 08 Jul 2009 LONDON - One of Australia's two tier one gold miners, Lihir Gold Ltd. (ASX: LGL, NASDAQ: LIHR, TSX: LGG) - the other is Newcrest - , announced today that it has closed out its gold hedge book, albeit only a relatively small amount of gold was involved. The hedge had been put in place by Equigold NL which was acquired by Lihir in the middle of 2008. At the end of March this year, the company had forward sales contracts in place covering 96,000 ounces of gold, to be delivered over the period to September 2010 at a price of A$600 (US$471.46 at today's exchange rate) per ounce. Through the Equigold merger last year, Lihir now has operations at Mount Rawdon in Queensland and in Côte d'Ivoire in West Africa in addition to its primary operation on Lihir Island in Papua New Guinea and its Ballarat operation in Victoria. Combining figures from its four operations, Lihir has approximately 25 million ounces in reserves. In 2008 Lihir produced 882,000 ounces of gold, with production in 2009 expected to be in the range of 1 million to 1.2 million ounces, including 770,000 - 840,000 ounces from Lihir Island, 130,000 - 160,000 ounces from Bonikro in Côte d'Ivoire, 90,000 - 100,000 ounces from Mount Rawdon, and had originally planned to produce up to 50,000 ounces from Ballarat, although there have been substantial operational difficulties experienced at the latter and the production target for the current financial year may be as little now as 20,000 ounces leading to speculation that the company will close down the operation after huge expenditures on this historic gold mining field (see Speculation rife that Lihir Gold may give Ballarat to the morticians) . However despite the Ballarat problems Lihir is on track to make its gold production target in calendar 2009 with gold output of 510,000 ounces reported in the first five months of the year. The hedge result will be charged against earnings at the original designation dates. Details of amounts and timing will be provided when the half-year results for the six months to 30 June 2009 are released on August 26th. "Our shareholders have given us a clear message over recent years that they do not want LGL to hedge its gold production" said CFO Phil Baker. "These transactions leave us ideally placed to capture the full benefits of strong global gold prices as we grow our gold production to more than one million ounces this year," he said.
  8. moscowman

    PLA

    the boys came out with a shareholder update this morning All looks positive(ish) http://www.gtp.com.au/platinumaus/inews_fi...olderUpdate.pdf
  9. moscowman

    AWE

    AWE to spud Tui development wells with Kan Tan-IV Offshore staff SYDNEY, Australia -- Australian Worldwide Exploration (AWE) is considering drilling three or four types of exploration plays using the rig Kan Tan-IV during its summer exploration in the Taranaki basin. AWE says its first well, Hoki-1, will be a Cretaceous North Cape formation play in PEP 38401. The Hoki-1 structure is 70 sq km (27 sq mi) in size with 100 m (328 ft) relief giving a large potential. Water depth over the structure drops from 150 m (492 ft) to 900 m (2,953 ft). Two wells, Tui northeast (NE) and Tui southwest (SW), are planned as extensions to the Tui oil field pool in the Kapuni Group “F10†sands. The Tui NE target is estimated to contain 10 MMbbl recoverable and Tui SW may contain 5 MMbbl recoverable, the company says. AWE has also outlined two other possible targets adjoining the Tui pool - Tui southeast (estimated reserves of 10 MMbbl) and Kahu channel play (estimated 30 MMbbl reserves). A fourth well proposed Tuatara-1, off the South Island’s D’Urville Island, is a Moki sands play similar to OMV’s Maari oil field. The top Moki sands at Tuatara contain a 10 sq km (3.8 sq mi) structure containing 90 m (295 ft) of relief. The company is considering a fourth play type, the Bahamas Pleistocene biogenic gas play, in PEP 38483, west of Taranaki. The semisubmersible rig Kan Tan-IV is scheduled to arrive in New Zealand in November. 06/30/2009
  10. moscowman

    Gold

    Thanks Flower, I have been engaged in a discussion with some Russian gold types who were of the view that Australia wasnt producing gold at less than about 550-600!  I flipped them the last LGL production but they then noted this was from PNG, with the other low costs producers being largely producing outside Oz.  I knew there had to be someone producing cheaper and doing it inside Oz but had no idea who that was - the Avoca and Silver Lake sites sorted the matter. Cheers.
  11. moscowman

    Gold

    Hey Guys, does anyone happen to have a list of the lowest cost Australian gold producers floating around at the moment?
  12. So much for that idea............. 29 June 2009 Suzanna Dabski Companies Announcement Office Australian Stock Exchange Termination of Takeover Bid Implementation Agreement with Polartechnics Limited On 17 April 2009, Fermiscan and Polartechnics Limited (Polartechnics) announced that they had entered into a Takeover Bid Implementation Agreement relating to the proposed merger of Fermiscan and Polartechnics (Takeover Bid Implementation Agreement). The terms of the Takeover Bid Implementation Agreement provide that Fermiscan is entitled to terminate the Takeover Bid Implementation Agreement where the Fermiscan Board changes its recommendation in respect of the takeover offer made by Polartechnics (Offer) as a result of the Independent Expert concluding that the offer is neither fair nor or reasonable. As the independent expert has confirmed in the Independent Expert’s Report (annexed to Fermiscan’s Target’s Statement released to the market earlier today) that the Offer is “neither fair nor reasonable to Fermiscan Shareholders and option holdersâ€ÂÂÂÂÂ, and the Fermiscan Directors have recommended that Fermiscan Shareholders do not accept the Offer, Fermiscan has terminated the Takeover Bid Implementation Agreement in accordance with its terms.
  13. moscowman

    AWE

    Nothing like announcing to the punters that you have drilled and found nothing to get a 7% SP boost on the day..... ASX Announcement June 26, 2009 AWE’s Vietnam Tuong Vi -1 drilling update Australian Worldwide Exploration Limited (“AWE”) reports that the well has been drilled to its total depth of 2,762 m measured depth. Wireline logs acquired to date indicate that no significant hydrocarbons are present in good quality sands in the objective section. Upon completion of these operations, the well will be plugged and abandoned. The well is located in the 06/94 block in the Nam Con Son Basin, approximately 400 kilometres from the coastline of Vietnam. The primary target of the well was the oil potential of the Dua Formation sandstones with secondary targets in the Nam Con Son Carbonate and Cau sandstones.
  14. moscowman

    Gold

    may have a nice side effect for a lot of gold companies From reuters http://www.reuters.com/article/innovationN...dChannel=0Small Australia gold miners eye mergers to woo funds Thu Jun 25, 2009 4:26am EDT By Denny Thomas and James Regan SYDNEY (Reuters) - Australia's smaller gold miners are showing an urge to merge in an effort to bulk up and court investment funds that are being drawn to the sector due to the soaring bullion prices. At least two sub-A$500 million mining deals have been tabled in the past few weeks and investment bankers and analysts are counting on more to come. The bankers, who had direct knowledge of some potential deals, did not wish to be identified as the negotiations were confidential. "There's movement afoot in the smaller end of town and a recognition that now is the time to act," said DJ Carmichael & Co mining analyst James Wilson. U.S. dollar-denominated gold has capitalized on uncertainties caused by the financial crisis, rising as much as 24 percent since January. In Australian dollars, gold's ascent is even more impressive, leaping as much as 34 percent. The jump in prices of the metal and strong growth prospects of the miners are inviting growing attention from investors. A survey this month by accountants Deloitte showed a handful of minnow-sized miners are gaining momentum on the back of their prospects. It singled out Centamin Egypt (CNT.AX) whose capitalization ballooned A$608.7 million, or 56.7 percent, in May. The problem, however, is the vast majority of the 25 gold miners in Australia are small and have a market value of less than A$1 billion, making it near impossible for most fund managers to invest in them because of liquidity concerns. 'CONSTRAINT' Companies want investment funds as shareholders as they tend to be long-term investors and their involvement boosts the profile of the business. "For large investors, there is a bit of a constraint in the Australian market," said Steve Robinson, a fund manager with Alleron Investment Management. "Size does become an issue." Alleron manages about A$1 billion in Australian shares, including Lihir Gold Ltd (LGL.AX), the second-biggest listed gold miner in the nation. For institutions in Australia without mandates to invest in global shares, Newcrest Mining Ltd (NCM.AX) and Lihir are the only routes to gain exposure to big gold stocks. Newcrest, the biggest listed gold firm, has a market value of about A$14 billion and Lihir A$7 billion. Centamin and Sino Gold Mining Ltd (SGX.AX) -- each about one-tenth the size of Newcrest -- are distant thirds. The rest of the stocks are valued under A$1 billion, with an average capitalization of around A$200 million. There used to be more choices, including Normandy Mining, Gold Fields and Delta Gold, but these were acquired earlier this decade by international companies with overseas stock listings. Companies eager to fill that void want to gobble up smaller mines to create size. In April, Avoca Resources Ltd (AVO.AX) launched an unsolicited scrip bid for Dioro Exploration NL (DIO.AX) in hopes of immediately taking annual gold output to a quarter-million ounces from 180,000. "The institutions can buy what they want but if there was a larger Australian gold company that would bridge the gap, then they would be a lot more attracted to that," Rohan Williams, CEO of Avoca Resources, told Reuters. "If we succeed, we would be expecting a re-rating," Williams said. Other deals have followed. Catalpa Resources (CAH.AX) this week agreed to a merger with smaller peer Lion Selection's (LST.AX) gold assets. The combination, which would create a gold producer with output of about 130,000 ounces a year, sent the shares in both companies sharply higher and immediately achieved one objective of the union: a revaluation of Lion Selection's gold assets. But size alone may not cut it. "Putting mines together to create a bigger company does not necessarily solve all problems," said Neil Boyd-Clark, a fund manager at Fortis Investment Partners. "What you want to do is put assets together that can do a better job than they could separately," said Boyd-Clark, who helps manage A$4 billion in Australian shares, but doesn't own gold mining stocks. ($1=A$1.25) (Editing by Muralikumar Anantharaman)
  15. http://www.clinuvel.com/en/ top right of page, the video doesnt add much new, but its worth going throughif just to remind us why we are in!
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