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ABN Newswire Stocks to Watch: January 25, 2010
ABN Newswire Stocks to Watch: January 25, 2010
Sydney, Jan 25, 2010 AEST (ABN Newswire) - Atlas Iron Limited (ASX:AGO) has taken another significant step towards achieving its key growth targets, with the Company striking two long-term off-take agreements with medium-sized Chinese steel mills covering a total of 1.1 million tonnes per annum of Atlas DSO product. The two off-take agreements represent approximately 30% of the increased production that will occur as a result of the start of operations at the Company's 100%-owned Wodgina DSO Project.

Emergent Resources Limited (ASX:EMG) has received subscriptions from sophisticated and professional investors to raise A$3.0 million. The placement will be completed shortly and the Company will inform the market when the placement has been finalised. The placement has been made to clients of Casimir Capital LP and its Australian operations Casimir Capital AP (together "Casimir"). The placement of 5,000,000 shares will be made at a price of A$0.60 per share. The placement also includes the issue of one free attaching listed option (EMGO) for every two shares placed, exercisable by the payment of 20 cents each on or before 30 September 2010.

Carbon Energy Limited (ASX:CNX) (PINK:CNXAF) has appointed a new General Manager Technical Services, Mr Andrew Mifflin to evaluate and develop coal resources suitable for underground coal gasification both in Australia and overseas.

Magnetic Resources NL (ASX:MAU) has significantly expanded its search for iron ore close to existing infrastructure in the south west of Western Australia. Magnetic recently announced additional tenement applications, tripling its landholding in the Jubuk area near Corrigin, following the success of an aeromagnetic survey in identifying iron ore targets in an area of poor existing aeromagnetic coverage (ASX release 13 January 2010).

Pike River Coal Limited (NZE:PRC) (PINK:PKRRF) said its first export shipment of 20,000 tonnes of premium hard coking coal is due to depart Lyttelton in February 2010. One of Pike River's Indian customers will be the recipient of this inaugural cargo which has a value of approximately NZ$3.4 million. Pike River's second export shipment, scheduled for the April - June 2010 quarter, will be around 40,000 tonnes.


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

Related Companies

Pike River Coal Limited          
Magnetic Resources Nl       
Emergent Resources Limited       
Carbon Energy Limited         
Atlas Iron Limited          

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