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ASX shareprice RISES today http://www.sharescene.com/html/emoticons/wub.gif

16:35, Monday, 2 April 2007


Sydney - Monday - April 2 (RWE Australian Business News):


Company name ASX Code % Move Change Price


EMERALD OIL & GAS NL EMR + 51.61 + 0.080 0.235

LIBERTY GOLD NL LBY + 50.00 + 0.090 0.270

ATHENA RESOURCES LTD AHN + 28.00 + 0.105 0.480

ADELAIDE RESOURCES LTD ADN + 17.89 + 0.085 0.560

IMPACT MINERALS LTD IPT + 16.98 + 0.045 0.310

SWICK MINING SERVICES LTD SWK + 16.67 + 0.140 0.980

CO2 GROUP LTD COZ + 16.67 + 0.055 0.385

ENERGY VENTURES LTD EVE + 16.13 + 0.050 0.360

CYCLOPHARM LTD CYC + 14.71 + 0.050 0.390

DEEP YELLOW LTD DYL + 14.46 + 0.060 0.475

3Q HOLDINGS LTD TQH + 14.29 + 0.050 0.400

TRIBUNE RESOURCES NL TBR + 14.29 + 0.100 0.800

REDSTONE RESOURCES LTD RDS + 13.74 + 0.145 1.200

IINET LTD IIN + 13.30 + 0.155 1.320

COLLECTION HOUSE LTD CLH + 12.82 + 0.125 1.100


Note: Excludes stocks with share price less than 20 cents



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Recent 3Y indicates Director (Edwards) has bought options on market. They have over 20 mill of options listed (20c on 30/11/09). Top 20 hold close to 50% of options with the Directors and associated interests heavily involved. The Top 20 of ordinary shares are similar. They have a seemingly very committed and confident register and have been richly rewarded through the entitlements issue this year.


AHN is a miniscule company and only raised $2.8m on listing on the 22/1 - they only have 19m ords on issue. They have not commenced drilling in Ravensthorpe, but will be very close to completing and reporting upon the aeromagnetic and radiometric surveys for further mapping of the possible nickel-copper sulphide mineralisation. I believe Ranvensthorpe to be their initial primary project.


The acquisition from Ucabs makes sure they have exploartion rights over 1600km2. BHP is very close to them.


They were cheap on issue and I imagine that they could run into the 70s without any real harm on the register although tomorrow will show more.


A very cheap play - with perhaps more volatility than most. They will do well IMO. http://www.sharescene.com/html/emoticons/wink.gif


By the way, have you noticed the BMN and TRF connection:


Important to note that one of the Directors, Mr Sadleir, brings significant technical experience in the Ravensthorpe project to Athena through his association with Morning Star Resources , the company that, upon recognising the mineral potential of the main project area, undertook the initial phase of prospecting and geophysical and geochemical surveys in 1997-98.


Sadleir was involved in the float of nickel and uranium explorer Bannerman Resources Limited in 2005 where he was Managing Director until his resignation in early 2006. During 2006 he assisted in the project acquisition and float of Trafford Resources Limited where he remains a non-executive director today.


Proven management that creates vast shareholder wealth? You betcha. http://www.sharescene.com/html/emoticons/wink.gif


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By the way, 30% of issued shares are owned directly by Directors. Indirect? Who knows? http://www.sharescene.com/html/emoticons/wink.gif


The Chairman of AHN founded Fox:


Athena Resources Raising $2,400,000 to Fund Exploration


Athena Resources is raising $2.4 million to fund exploration for nickel sulphides and copper-gold in Western Australia


The company describes itself as a highly focused exploration company offering the following distinguishing features:


1) Entry to exploration programmes in the 1600 KM 2 Ravensthorpe Project in the South East and the 970 KM 2 Ashburton Project in the Pilbara, both targeting nickel, gold mineralization in Proterozoic orogenic belts that have been previously overlooked as exploration targets in Western Australia.


2) Geological models and corresponding approaches to exploration which have not not previously been applied to mineral exploration in these areas of Western Australia.


3) A three man board of directors combining 86 years of successful professional experience encompassing the disciplines of geology, land management, development, finance and administration in the mining industry.


The Chairman of the company Mr Ed Edwards described the companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s initial activities as putting together an impressive range of assests.


ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“My expertise is in putting companies together. I really enjoy the challenge of putting the ground together and finding new deposits.


We have very good geologists and geo physical people and we have been putting this project together for over 12 months,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ Mr Edwards said.


Shane Sadleir and Donald Thomson are both experienced geologists with a history of successful mineral exploration, discovery, mine development and production.


As Chairman and Company Secretary, Mr Edwards is a Chartered Accountant with an impressive record as a financial director or managing director responsible for positioning a number of exploration companies to become mineral producers.


Mr Edwards said that in addition to utilizing the considerable expertise of its directors, Athena will also optimize opportunities by engaging specialist personnel, and by applying advanced technologies and the latest exploration methods.


Mr Edwards has previously successfully established Fox Resources Ltd and Acclaim Uranium (now Aztec Resources).


Mr Edwards believes the international demand for Australian production will continue to grow.


ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“I do not see any serious correction before the Beijing Olympics which will only cool demand in the short term.


China, India and Brazil are growing rapidly and taking enormous volumes.


There is still little or no grass roots exploration in this country, and exploration generally is not keeping up with production. To get the company started we approached a number of large investors for seed capital,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ Mr Edwards added.


ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“The large private individuals have faith in us and I have no doubt that these projects will enter the production phase.


This is a very tiring industry and the stock markets get the story right eventually. I further believe the government should introduce flow/through tax deductibility.


More money needs to be invested in mineral exploration in Australia and it is becoming increasingly hard to find good field staff with the necessary range of skills,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ Mr Edward said.


Athena believes that its geological model will be the key to successful exploration.


ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“We have a good, large 100% strategic land holding. We are not obviously going to make any guarantees and we are also not making any silly promises.


We are not drilling old ore bodies, weÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢re looking for large new deposits. Mining off shore requires too much capital and many companies do not go past the exploration phase because they are operating in countries which are not politically stable.


Commodity prices will have to fall from the current unsustainable levels. However, unless somebody finds a lot more nickel, prices will remain high along with copper and zinc,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ Mr. Edwards explained.


In his spare time Mr Edwards enjoys going into the bush and camping and spending time in the field as he says there is not much chance to do this once a mine becomes operational.


Mr Edwards describes the mining industry as exciting and challenging and readily admits that it is a drug which keeps him continuously stimulating.



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