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ABN Newswire Stocks to Watch: January 20, 2010
ABN Newswire Stocks to Watch: January 20, 2010
Sydney, Jan 20, 2010 AEST (ABN Newswire) - AuDAX Resources Limited (ASX:ADX) (PINK:ADXRF) said it has signed a contract with Atwood Oceanics Inc (NYSE:ATW) to provide Drilling Rig Services for the deep water Sambuca prospect in the Kerkouane permit offshore Tunisia. Atwood will be providing the ATWOOD SOUTHERN CROSS semi-submersible offshore drilling unit to conduct the work programme.

Pan Asia Corporation Ltd (ASX:PZC) said while continuing to undertake due diligence on the extensive Innovation West Pty Ltd (Innovation West) acquisition, the Company has been actively exploring the two underground coal targets at Roda Niaga and TCM in South Kalimantan, Indonesia. The consideration for the acquisition of Innovation West has been increased by an additional 25 million performance shares. As such, the share consideration is to be 630 million fully paid ordinary shares and 25 million performance shares.

Multi-commodity explorer Golden Cross (ASX:GCR) has signed an MOU with China National Automation Control System Corp (CACS), a subsidiary of Chinese state-owned Sinomach Group, to conduct a feasibility study at Copper Hill. A positive feasibility study will allow the capital from China, and CACS could source all necessary plant and equipment from China and within Australia. China United Mining Investment Corporation (CUMIC) will provide financial support for the feasibility study holding firm to the view that Copper Hill represents a solid mining investment given China's future copper requirements, Golden Cross said.


Michelle Liang
Asia Business News Asia Bureau
TEL: +61-2-9247-4344

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