POMSoX UPDATE

LOCAL STOCKS

POMSoX opened the month of April high, with the largest PNG listed mining company, LGL adding 80t’s to close at K8.00. The price increase followed an almost 33% jump on ASX after news reported that Newcrest mining Ltd had offered to acquire 100% of LGL's issued ordinary shares through a scheme of arrangement. The reports also stated that LGL had rejected the offer.

OSH gained 50t while NBO lost 45t to land on a negative territory. Other stocks closed unchanged.

In the last week's markets releases:
•LGL appointed a former senior executive of BHP, Mr Graeme Hunt as the Managing Director

The pre open phase of the market, has offers for LGL queued at K8.00 while bids for NBO are lined at K19.05. KSI added 347.4 points closing high at 6,494.34 points.

Gainers and Looser on the bourse yesterday 2/04/10:
LGL: 11.11%
NBO: -2.30%
OSH: 3.78%
KSI: 5.65%