PNGIndustryNews.net - Cutting through the fear

Wednesday
19 June 2013

Make PNG my HomePage

Cutting through the fear

Friday, 4 May 2012

Blair Price

ALLIED Gold, Indochine Mining and Bougainville Copper were some of the better performers in another week hit by economic uncertainties from overseas.

POMSoX-listed companies	Code	Last week's close (Kina)	Last trade today (Kina)	Variance (Kina)	Variance %
Oil Search Limited	OSH	14.00	15.00	1.00	7.14%
Marengo Mining Limited	MGO	0.55	0.55	0.00	0.00%
New Britain Palm Oil	NBO	26.00	26.00	0.00	0.00%
InterOil Limited	IOC	90.00	90.00	0.00	0.00%
Steamships Trading Companies Limited	SST	5.00	5.00	0.00	0.00%
New Guinea Energy	NGE	0.10	0.10	0.00	0.00%
Highlands Pacific Limited	HIG	0.40	0.40	0.00	0.00%
Kina Asset Management Limited	KAM	0.96	0.95	-0.01	-1.04%

AIM-listed companies	AIM code	Last week's close (pence)	Last trade today (pence)	Variance (pence)	Variance %
Regency Mines	RGM	2.18	2.25	0.08	3.45%
Triple Plate Junction	TPJ	2.33	2.4	0.07	3.23%

TSX-listed companies	TSX code	Last week's close ($C)	Last trade today ($C)	Variance ($C)	Variance %
LNG Energy	LNG-V	0.07	0.08	0.01	14.29%
Nautilus Minerals	NUS.TO	2.32	2.32	0.00	0.09%
Vangold Resources	VAN-V	0.04	0.04	0.00	0.00%
Eaglewood Energy	EWD.TO	0.29	0.28	-0.02	-5.17%
Marengo Mining	MRN.TO	0.22	0.21	-0.02	-6.82%
Papuan Precious Metals	PAU-V	0.07	0.06	-0.01	-7.69%
Talisman Energy	TLM.TO	13.08	11.75	-1.33	-10.17%
Madison Minerals	MMR-V	0.11	0.10	-0.02	-13.64%
New Guinea Gold	NGG-V	0.02	0.01	-0.01	-33.33%

NYSE	Code	Last week's close ($US)	Last trade today ($US)	Variance ($US)	Variance %
InterOil	IOC	58.35	57.48	-0.87	-1.49%
Exxon Mobil Corporation	XOM	86.08	85.65	-0.43	-0.50%

ASX-listed companies	ASX code	Last week's close ($A)	Last trade today ($A)	Variance ($A)	Variance %
Allied Gold	ALD	1.67	2.06	0.39	23.35%
Indochine Mining	IDC	0.15	0.17	0.02	13.33%
Bougainville Copper	BOC	0.72	0.80	0.09	11.89%
Bright Star Res Ltd (Tasman Goldfields)	BUT	0.09	0.10	0.01	5.56%
CopperMoly Limited	COY	0.05	0.06	0.00	3.77%
New Guinea Energy	NGE	0.06	0.06	0.00	3.23%
Kina Petroleum Ltd	KPL	0.39	0.40	0.01	2.60%
Horizon Oil	HZN	0.32	0.33	0.01	1.56%
Mincor Resources NL	MCR	0.69	0.7	0.01	1.45%
Newcrest Mining	NCM	25.71	25.83	0.12	0.47%
Resource Mining	RMI	0.00	0.00	0.00	0.00%
Goldminex	GMX	0.09	0.09	0.00	0.00%
Niuminco Group Ltd	NIU	0.058	0.058	0.00	0.00%
Oil Search	OSH	7.39	7.34	-0.05	-0.74%
Kula Gold	KGD	0.855	0.84	-0.02	-1.75%
Liquefied Natural Gas Limited	LNG	0.46	0.45	-0.01	-1.10%
Santos	STO	13.98	13.65	-0.33	-2.36%
Highlands Pacific	HIG	0.16	0.16	-0.01	-3.13%
Cue Energy	CUE	0.28	0.27	-0.02	-5.36%
Gold Anomaly	GOA	0.02	0.01	0.00	-6.67%
Marengo Mining	MGO	0.22	0.20	-0.02	-9.09%
Pacific Niugini Ltd	PNR	0.385	0.35	-0.04	-9.09%
MIL Resources	MGK	0.01	0.01	0.00	-10.00%
Orchid Capital Ltd/Fund	ORC	0.1	0.088	-0.01	-12.00%
Frontier Resources	FNT	0.11	0.09	-0.01	-13.33%
Quintessential Resources Ltd	QRL	0.22	0.19	-0.03	-13.64%

More fears over the seemingly endless European sovereign debt crisis and over the state of the US economy took their toll on key commodities.

London Metal Exchange cash copper closed at $US8284 a tonne overnight, down 3% from last Friday.

LME cash nickel was back into shakier ground again at $17,211/t – a fall of 4.5% from the end of last week.

Spot gold did not escape any pain this week either. It is trading around $1637.15 an ounce in early afternoon trading – about 1.5% down from last Friday’s closing price.

In what provides relief outside of the oil industry, Singapore Tapis crude is continuing to fall and closed at $126.38 a barrel overnight. This price was a little short of a 2% drop since last Friday.

But there were some good results on our watchlists. Allied Gold’s expansion efforts were well received and Indochine Mining released more stellar drilling results.

Bougainville Copper shares are also rising again due to progress with its vision of re-opening the once mighty Panguna mine.

Click here to read the rest of today's news stories.