Stocks to watch on the Australian stock exchange on Thursday:
AQA – AQUILA RESOURCES LTD – up 22 cents at $6.48
Coal miner Aquila Resources has received conditional approval from the federal government for its first iron ore mine.
BCD – BCD RESOURCES NL – down 0.3 cents at 0.8 cents
The Beaconsfield gold mine where a rock fall killed one miner and trapped two others in 2006 is expected to close next year because the remaining ore is not viable to mine – despite current high prices.
BHP – BHP BILLITON – down six cents at $34.92
BHP Billiton is reviewing the sale of its Canadian diamond assets, days after the resources giant promoted the president of the Vancouver-based division as its chief financial officer.
CER – CENTRO RETAIL GROUP – down 0.5 cents at 30.5 cents
CNP – CENTRO PROPERTIES – untraded at four cents
The future of shopping centre owner Centro remains uncertain, with no sign of when a court will deliver its verdict on the company’s restructure plans.
GCL – GLOUCESTER COAL LTD – up 30 cents at $7.69
Gloucester Coal says it expects annual coal production to rise six fold to 12 million tonnes in less than 10 years, as it moves to four distinct operations from just one.
IIN – IINET LTD – up five cents at $2.69
A consortium of film studio giants has begun a High Court appeal against internet service provider (ISP) iiNet over illegal downloads.
LYC – LYNAS CORPORATION LTD – up 3.5 cents at $1.215
Australia’s largest rare earths miner Lynas Corporation says prices for rare earths have fallen in recent months, which is a healthy development for the industry.
MTS – METCASH LTD – up six cents at $4.03
Grocery wholesaler Metcash has finally cleared the legal hurdles to its acquisition of Franklins, as it upgrades its financial forecast for its current fiscal year.
NHC – NEW HOPE CORPORATION – down five cents at $5.90
New Hope Coal says it has received a number of take-over proposals from third parties, and talks are continuing.
ORL – OROTON GROUP LTD – down 12 cents at $8.11
Fashion accessories and apparel company Oroton Group is focused on expanding in Asia and online as it continues to assess acquisition opportunities in Australia.
RIO – RIO TINTO LTD – down 55 cents at $62.95
Rio Tinto is poised to take a foothold in the rich Canadian uranium market as its proposed acquisition of a largely untapped mine looks likely to go ahead, a UK newspaper reports.
