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ABN Newswire Stocks to Watch: April 8, 2010
ABN Newswire Stocks to Watch: April 8, 2010
Sydney, April 8, 2010 AEST (ABN Newswire) - Atlas Iron Limited (ASX:AGO) has provided an operational update on recent progress towards achieving iron ore exports at a combined rate of 6 million tonnes per annum (Mtpa) from its Wodgina and Pardoo DSO operations in Western Australia by December 2010. All major operating contracts are either in place, or contract award is imminent to enable a Q2 2010 mining start at Wodgina and the facilities upgrade of its 100% owned Pardoo DSO Project is now complete.

Marion Energy Limited (ASX:MAE) (PINK:MAEJF) said that it has restructured its senior secured debt facility to give the company greater flexibility to manage the ongoing development of its Clear Creek well rehabilitation program. The company says the restructure represents an important improvement to the Company's balance sheet.

Exco Resources Limited (ASX:EXS) (PINK:EXRSF) said the E1 Camp, one of the key deposits in its Cloncurry Copper Project ('CCP') located in North West Queensland, has been the main focus of recent drilling campaigns and resource modelling. The E1 Camp now contains approximately 75% of the contained copper within the CCP. The Indicated and Measured resources at the E1 Camp now total 34Mt containing 257,000t of copper.

WestSide Corporation Limited (ASX:WCL) has attracted two new cornerstone investors to underpin a A$64.4(1) million funding package which will cover the acquisition and development of Anglo American's (LON:AAL) 51 per cent interest in the producing Dawson CSG fields in Queensland's Bowen Basin. New Hope Corporation Ltd (ASX:NHC) (through its wholly owned subsidiary, Uniford Pty Ltd) and the Infrastructure Capital Group Limited (ICG)-managed Energy Infrastructure Trust (EIT) have both agreed to take share placements of new ordinary WestSide shares, which will raise A$8.1 million and together to underwrite a A$56.31 million 1-for-1 Entitlement Offer of new ordinary shares to existing shareholders.

AuDAX Resources Limited (ASX:ADX) (PINK:ADXRF) has signed a farmin agreement with Bombora Energy Pty Ltd for participation in exploration of the two contiguous offshore Exploration Permits, G.R15.PU and Kerkouane (the "Permits"). Bombora is a private energy company based in Perth, Western Australia. Under the terms of the agreement, Bombora will earn a 10% interest in the Permits by paying 15% of the seismic cost and its share of the Lambouka exploration well.

Magnetic Resources Limited (ASX:MAU) has reached agreement with a combination of sophisticated and professional investors to place 3,960,230 fully paid shares at an issue price of A$0.40 per fully paid share.
Following the placement, Magnetic will have 58,746,483 fully paid shares, 18,945,572 contributing shares and 2,100,000 options on issue with cash and liquid investments of A$3.6 million.

iSOFT Group Limited (ASX:ISF), Australia's largest listed health information technology company, Wednesday launched its new corporate Web site featuring an advanced investor section. The new iSOFT Web site reflects the company's global rebranding programme, as well as iSOFT's solution-based approach to reaching out to customers and stakeholders.

Victory West Moly Limited (ASX:VWM) has completed a thorough assessment of all available geological data sets from the Anomaly B prospect, part of the Company's highly prospective Malala Molybdenum Project in Sulawesi, Indonesia. As a result, a robust geological model has been developed which illustrates that significant upside exists at Anomaly B.

The Otway Petroleum Project is Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF) 100% owned suite of integrated production, development and exploration oil and gas assets, which are located in the South Australian section of the onshore Otway Basin. Given the current drilling and other ongoing activity currently being undertaken by ADE in the Otway Petroleum Project, the Company intends in this quarter to issue weekly drilling reports and regular project updates to investors on the progress being made in the various drilling and other project areas.

Pan Asia Corporation Limited (ASX:PZC) has been carrying out a thorough legal due diligence of the assets with the assistance of the respected Indonesian law firm, Christian Teo & Associates. Based on the preliminary results of this process and active negotiation with the Indonesian parties, the Company has reconfirmed its intention to acquire IW with the signing of an updated Binding Heads of Agreement.

Contact

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net


Related Companies

WestSide Corporation Limited       
Victory West Metals Limited        
Pan Asia Corporation Limited          
New Hope Corporation Limited          
Marion Energy Limited       
Magnetic Resources Nl       
iSOFT Group Limited             
Exco Resources Limited       
Atlas Iron Limited          
Anglo American plc          
ADX Energy Limited       
Adelaide Energy Limited        

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