Finishing before returning home, market report last week that is a long-distance gaze, and may have to be a little shorter than usual. Before reaching the market, then perhaps a final word on Indaba, and how to read the mood of the mining industry. Sana is the one-word answer, but not yet robust. It seemed that the conference itself was dominated by suppliers and service providers seeking to sell its various products. Original miners and bankers were perhaps a bit thin on the ground, which was expected after such a difficult time in the last 18 months. Australian miners were well represented, and the multitude of banking in London was here at about 75 per cent of the workforce. There were plenty of bow ties and striped dresses in the display, a look that is so totally out of place in the port of Cape Town, but at least Baobab Resources Jeremy Dowler had the good sense to go much more relaxed, with a taste of fruit long drink, when you organized a very nice farewell lunch in Camps Bay on Friday.
And with his binoculars on the Camps Bay, how the stock market out of Australia last week.
If you ignore selling on Friday, not bad. The last day of the week was bad, with the all ordinaries index diving ASX by 2.4 percent and the mining of metals and immersed in 3.9 per cent after a sharp fall on Wall Street . But if you take a broader view, the image was so bad. He had two days until last week and three below. That averages a modest decline in the metals index of only 0.7 percent. The gold index fell two percent, and all ordinaries 1.4 percent. BHP Billiton, the local market leader, in fact ended the week up A15 cents, a good sign that even in a liquidation buyers are hunting out quality stocks.
The time prices, and since you’re going to start in South Africa gold.
Falls across the sector, as expected, but most in small quantities. If you look hard you can even find a couple of stocks that rose. Ramelius (RMS), which issued a statement on the probability of getting good gains on Friday, added A2.5 cents to A56 cents. And Emmerson Resources (ERM), one of the crowd Tennant Creek, slipped half a cent more to A20 cents. After that’s all. The biggest decline was a drop of A22 cents A77.5 cents suffered by Carrick Gold (CRK). Other engines Kingsgate (KCN), down A67 cents to $ 8.51, Resolute (RSG), below A4 cents to A94.5 cents, Gryphon (GRY) below A3.5 cents to A40 cents, Chalice ( CHN), by A7 5 cents to A35.5 cents, and Troy (TRY) below A6 cents and $ 2.10.
We have the image, we will pass through areas with iron ore coming, please.
The same story, one above and many below. The man who got out was FerrAus (FRS), a small emerging players in the Pilbara region, likely to be an agreement with a leading, over time. He added A3 to A76 cents cents during the week. Now comes the list of the fallen. First, Fortescue Metals (FMG), yielded only A2 cents to A $ 4.51, despite the corporate police have announced they will appeal the verdict in the case he lost against FMG chief executive, Andrew Forrest. Other engines included in the atlas (AGO), down A9 cents to $ 1.85, Gindalbie (GBG) to A4.5 cents to A90.5 cents, Giralia Resources (GIR), pennies, A2 A A4 1.52 dollars, Brockman (BRM) until cents, to $ 2.71, and Iron Ore Holdings (IOH), up A5 cents to $ 2.13, however, that fall to be considered in the context of falling A16 cents a Fridays only.
In other words, Iron Ore Holdings was well ahead before shake out on Friday?
Precisely. It makes the point that it was more a case of a bad day ending with a rather positive trend.
Let’s pass over the twin fuel, uranium and coal, please.
All down in the stocks of uranium, but it was a week surprisingly strong for coal. Extract (E) led through the reserves of uranium, despite a lot of advertising linked Indaba and a good story to tell about the Rossing South project. It fell A60 cents to $ 7.30. Manhattan (MHC) lost A16 cents to $ 1.37. Mantra (MRU) fell A43 cents to $ 5.30. Forte (EDP) lost A1.5 cents to A17.5 cents, and Paladin (PDN), which had been the favorite of the pack of uranium in Australia, fell another A12 cents to $ 3.52, a price that is exactly or 2.00 dollars from the tip of A $ 5.52 reached last June.
Coal was the sector that performed best during the week despite losing ground Friday. Coal of Africa (CZA) was the star attraction, adding A19 cents to $ 2.34, despite some heavy selling on Friday. Macarthur Coal (MCC), added A8 cents to $ 9.53, a result even more impressive because he fell A56 cents on Friday. Whitehaven (CPM) increased by A15 cents to A $ 4.58, while Riversdale (RIV) had a tough week than most, lost A49 cents over the week to close at a $ 6.96, with the A43 cents fall on Friday.
Basic metals, please.
Not much joy here. The most notable performance by Saber resources (SBR), which seems to have been the only base metal to gain ground play, this time courtesy of our mid-week report on its exploration activities near the historic copper mine in Tsumeb Namibia. Saber added A3 cents to A40 cents. The only other stock to avoid sector-wide sell out was the hope of millions of tonnes of zinc Burgess Mining (MTB), which managed to stand still at A1.4 cents, not a bad effort in a sea of red ink. Other engines included TERRAMIN Zinc (TZN), down A70 cents to cents A6, Perilya (PEM) to A7 cents to A54 cents, and CBH (CBH) to A1.5 cents to A12.5 cents.
Other engines include copper OZ Minerals (OZL) to A9.5 cents to A97.5 cents, Sandfire (SFR) by A28 cents to $ 3.42, Equinox (EQN), down A13 cents to $ A3.60, and Marengo (MGO), A1 percent down to A12.5 cents.
Nickel stocks were led by Mincor (MCR), which slipped A4 cents to $ 1.42, and, like many others, had its worst day of the week on Friday. Other engines Independence nickel (OIG) provides A39 cents to $ 3.75, and the panoramic (PAN), down A12 cents to $ 1.72.
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