Wpg Resources Ltd
In this issue: Asian demand for gold is still determining gold price, while the US$ gold testing 2011 downtrend, and the latest Martin Place Securities (MPS) portfolio and gold sector universe. Read this latest Dawes Points to better understand investing in the resources sector.
In this issue: key stocks are providing outperformance, gold demand remains robust, and we talk about the mixed results in the gold sector. Read this latest Dawes Points to better understand the global forces that drive resources sector investment.
Asian Activities Report for June 10, 2011 includes: Integra Mining Limited's (ASX:IGR) Randalls Gold Project in Western Australia achieved record monthly gold production in May; Hastings Rare Metals Limited (ASX:HAS) has commenced a drilling program at the Hastings Rare Metal and Rare Earth Project in Western Australia; WPG Resources Limited (ASX:WPG) and Evergreen Energy Inc. (NYSE:EEE) have signed joint venture agreements to develop and produce K-Fuel(R) throughout Australia; Golden Rim Resources Limited (ASX:GMR) has commenced the second phase of gold-copper drilling on its Balogo Project in Burkina Faso.
Asian Activities Report for April 6, 2011 includes: Motopia Limited's (ASX:MOT) subsidiary cBox Pty Ltd has been appointed as Business Wire's Australasian media distribution partner; MACA Limited (ASX:MLD) is to provide iron ore crushing and screening services for WPG Resources Limited (ASX:WPG); Rey Resources Limited (ASX:REY) announced an upgraded thermal coal Measured Resources at Duchess Paradise Project; Circadian Technologies Limited (ASX:CIR) said that VGX-100 significantly inhibits the growth and spread of various types of human tumour.
Australian Market Report of March 16, 2011 includes: WPG Resources Limited (ASX:WPG) has commenced a drilling program at the Company's Penrhyn Coal Project in South Australia; Forge Resources Limited (ASX:FRG) has entered into an agreement with Lynas Corporation (ASX:LYC) to sub-lease rare metals and phosphate deposits; Alara Resources Limited (ASX:AUQ) has commenced a phase 2 drilling programme at its Daris East Copper Project in Oman; Northern Star Resources Limited (ASX:NST) reported significant high-grade drilling results at its Paulsens Gold Mine in Western Australia.
Australian Market Report of February 3, 2011 includes: Crusader Resources Limited (ASX:CAS) continue to extend the known mineralisation at the Borborema gold project in Brazil; WPG Resources Limited (ASX:WPG) is to establish a joint venture with Evergreen Energy Inc. (NYSE:EEE) to develop and commercialise K-Fuel technology throughout Australia; Xanadu Mines Limited (ASX:XAM) and Noble Group (SIN:N21) form a strategic alliance in Mongolia; Octanex N.L. (ASX:OXX) is to commence drilling operations offshore Western Australia.
The Australian market delivered a strong opening on Monday as investors were inspired by the US Federal Reserve Chairman Ben Bernanke's comments. Wall Street rallied on Friday after Mr. Bernanke said the central bank will do whatever it takes in to support an economic recovery. This morning the local market saw a 1.6 per cent rise in S&P/ASX200 index, and the All Ordinaries gained 1.5 per cent.
Shares in Western Plains Resources Ltd (ASX:WPG) defied the massive falls of the Australian market and surged more than 10 per cent on Monday, while the local shares wiped off nearly A$40 billion of the market value. The company said it had reached agreements to sell 9 million tonnes iron ore over five year from its Peculiar Knob project in South Australia.
Wall Street Monday rebounded from a three-day losing streak as investors were optimistic about the merger and acquisition market after Xerox agreed to buy business services provider Affiliated Computer Services in a US$6.4 billion deal. Analysts' upgrades also boosted Cisco, Citigroup and other firms in both the technology and financial sectors.
After a modest setback on Monday, US shares climbed overnight to a fresh high as investors returned to the market on upbeat outlook on the economy. Meanwhile, positive company earnings reports also helped to lift the market sentiment.