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Some share price moves to keep an eye on in the market:
Fortescue Metals Group (FMGDA) up 71c to $7.91: Touched a record $8.10. Was queried yesterday over a rise of 54c but the company said it could not explain the rise. On December 19 announced its Solomon iron ore resources had been increased to more than 1.7 billion tonnes.
Haoma Mining (HAO) up 2.8c to 7.8c: Has reported encouraging results from rock chip sampling within the North Pole region of the Pilbara at its North Pole Project, 150km southeast of Port Hedland, with samples returning maximum values of 46.1pc manganese, 54.8pc iron and 1150 ppm vanadium.
IMX Resources (IXR) up 15c to 75c: Went as high as 79.5c: Today announced a detailed heads of agreement with Jilin Tonghua Iron & Steel for the offtake of Cairn Hill ROM magnetite/copper ore in South Australia, as well as a placement at 85c a share to raise $13.93m.
RAMS Home Loans Group (ASXRHG) up 1c to 31: Rose to 32.5c in initial reaction to news that two of its warehouse facilities which were scheduled to mature on 31 December had been extended to 31 January and 2 May.
Carnegie Corp (CNM) down 1c to 40.5c: Touched 43c. Had an unexplained and unqueried rise of 11c yesterday. Has already been queried twice this month over share price moves. The company said then it was involved in a number of opportunities regarding its wave technogy.
WestSide Corporation (WCL) up 10.5c to 56.5c: No news from the company since December 17 announcement that it had completed the workover of the pilot appraisal wells at its coal seam gas (CSG) pilot site at Tilbrook (ATP 688P) in central Queensland’s Bowen Basin, in preparation for planned production testing.
RAMS HOME LOANS facility extended
(RWE Australian Business News) – RAMS Home Loans Group previously announced that two of its warehouse facilities were scheduled to mature on 31 December.
RHG advises the $500 million warehouse facility (fully drawn) which was scheduled to mature on the 31 December has been extended to the 2 May 2008 and has been consolidated into an existing facility, with the same financial institution, which is also due to mature on 2 May 2008.
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RHG advises the $250 millionwarehouse facility (fully drawn)) which was scheduled to mature on the 31 December has been extended to the 31 January 2008 and has been consolidated into an existing facility, with the same financial institution, which is also due to mature on the 31 January.
RHG previously announced that it had received $4.25 billion of preliminary credit approvals for facilities to refinance its extendible commercial paper facilities.RHG advises that, on 27 December, the documentation for two of these facilities was executed. These facilities were:
* the $1.5 billion dollar warehouse facility with Westpac Banking Corporation; and
* a $2 billion dollar facility with another financial institution.
Both facilities have been documented on terms which are broadly consistent with RHG’s existing warehouse facilities, including that both facilities are 364 day facilities subject to any extension. Differences in pricing and other terms from RHG’s existing warehouse facilities reflect movements in the market since those facilities were documented.
RHG notes that both facilities are subject to various conditions precedent which must be satisfied prior to drawdown. RHG hopes to satisfy these conditions precedent as soon as possible to facilitate progressive refinancing of the relevant extendible commercial paper in January and February.
RHG will update the market if and when these conditions precedent are satisfied.
RHG is in advanced stages of documentation for a $750 million dollar funding facility and continues to work to find funding solutions for the remaining extendible commercial paper. RHG will update the market if and when these facilities are progressed
Clough wins $US23m coal terminal contract in Indonesia
(RWE Australian Business News) – Clough Ltd’s Indonesian subsidiary, PT Petrosea Tbk, and its partner, Laing O’Rourke, have signed a further contract with PT Indominco Mandiri valued at $US46m with Petrosea’s share being $US23m.
The Clough Group is one of Australia’s largest multidisciplinary engineering, construction and asset management group’s active in the international oil …
The contract with PT Indominco Mandiri (PT IMM) – a wholly-owned subsidiary of PT Indo Tambangraya Megah, a member of the Banpu Group of Companies, Thailand – is for engineering, procurement, construction and installation works for PT IMM’s Bontang Coal Export terminal expansion project (Phase II).
This contract follows on from the phase 1 work of the same project with PT IMM, which was commenced in early 2006.