STOCKS TO WATCH ON THE AUSTRALIAN STOCK EXCHANGE ON TUESDAY, SEPTEMBER 6
AQA – AQUILA RESOURCES LTD – down 31 cents at $5.75
Aquila Resources will spend $368 million on its Washpool coking coal project in Queensland and has taken part in a deal with QR Network to construct the first stage of a new export terminal near Gladstone
LLC – LEND LEASE GROUP – down 42 cents at $7.89
Lend Lease’s subsidiary Baulderstone has been awarded a Queensland government contract to design and build the Mains Road Kessels Roads intersection upgrade in Brisbane.
MCC – MACARTHUR COAL LTD – up four cents at $15.99
The Macarthur Coal board has told shareholders to accept a takeover bid by ArcelorMittal and Peabody Energy (PEAMCoal), but says a better alternative bid might still emerge.
OZL – 0Z MINERALS LTD – down 28 cents at $11.60
OZ Minerals is targeting mid-2015 to start construction of its newly acquired Carrapateena copper and gold project in South Australia.
QRN – QR NATIONAL LTD – steady at $3.26
QR National has taken advantage of booming global demand for Australian coal by striking a deal with eight mining companies to build a $900 million rail line to a new export terminal in Queensland.
RIO – RIO TINTO LTD – down $2.26 at $69.79
Rio Tinto is to sell its 57.7 per cent shareholdering in South African-based copper producer Palabora Mining because it is no longer of sufficient scale for the parent company.
SGP – STOCKLAND – down six cents at $2.97
Property manager Stockland has borrowed a further $US60 million ($A56 million) in 10-year debt because of strong investor demand.
VMS – VENTURE MINERALS LTD – up 0.5 cents at 42.5 cents
GRR – GRANGE RESOURCES LTD – down two cents at 54 cents
Magnetite iron ore pellet producer Grange Resources has agreed to purchase by-product from Venture Minerals’s Mt Lindsay tin and tungsten project in Tasmania.
