COMPLETION OF SALE OF UNMARKETABLE PARCELS
Highlands Pacific Limited (“the Company”) refers to its announcement of 17 December 2008 and the letter mailed to shareholders of unmarketable parcels on 19 December 2008.
The Company wishes to advise that the sale of 8,606,078 shares were sold off market today. The proceeds from the sale of these unmarketable parcels will be paid to shareholders with cheques anticipated to be mailed out today.
The process resulted in 4,444 shareholders being eliminated from the Company’s register and this will represent significant cost savings going forward.
Friday, February 20, 2009
Wednesday, February 18, 2009
POMSoX UPDATE
LOCAL STOCKS
Tuesday, the local bourse finished active with reasonable volumes changing hands. LGL gained some territory to end at K5.20 while CCP closed with a high selling pressure pushing down the price to K2.43 with CPL finishing steady at K2.48. IOC last night fell 9 percent to end at US$17.61 in the US.
Trading should pick up slowly as the day progresses, with BSP bidders at K0.98 and sellers for NBO selling at a low of K12.00.
PNG NEWS
In company news, IOC reported yesterday that they will be giving a presentation at the ENERCOM Oil & Services Conference in San Francisco. Also Kina Asset Management released its Net Tangible Asset (NTA( as 31st January 2009 is at K0.90.
MOVERS
Yesterday’s movers on the bourse 17/02/09:
BSP: 1.02%
CCP: -2.01%
CPL: -0.80%
LGL: 8.10%
MGO: -5.88%
NBO: 0.10%
Tuesday, the local bourse finished active with reasonable volumes changing hands. LGL gained some territory to end at K5.20 while CCP closed with a high selling pressure pushing down the price to K2.43 with CPL finishing steady at K2.48. IOC last night fell 9 percent to end at US$17.61 in the US.
Trading should pick up slowly as the day progresses, with BSP bidders at K0.98 and sellers for NBO selling at a low of K12.00.
PNG NEWS
In company news, IOC reported yesterday that they will be giving a presentation at the ENERCOM Oil & Services Conference in San Francisco. Also Kina Asset Management released its Net Tangible Asset (NTA( as 31st January 2009 is at K0.90.
MOVERS
Yesterday’s movers on the bourse 17/02/09:
BSP: 1.02%
CCP: -2.01%
CPL: -0.80%
LGL: 8.10%
MGO: -5.88%
NBO: 0.10%
Monday, February 16, 2009
POMSoX Weekly Update
Last week saw the local market closed steady with most of the listed stocks experiencing small changes in their share prices; BSP traded at an average price of K0.99 with reasonable volumes; and LGL on the local market reached a high of K5.00 while on the ASX it surged 5 percent on the back of a strong gold price to end the week at A$3.35.
Overseas, IOL concluded the week at US$19.63 with a high of US$20.00 on the AMEX while in London NBPO ended stronger at GBP2.63.
Overseas, IOL concluded the week at US$19.63 with a high of US$20.00 on the AMEX while in London NBPO ended stronger at GBP2.63.
Company research: Rift Oil
Rift Oil Plc (Rift) is a UK-based company engaged in oil and gas exploration. The Company operates within the UK and Papua New Guinea.
BSP Capital has just released the latest research report on Rift. Email gminia.bspcapital@bsp.com.pg to receive a copy.
BSP Capital has just released the latest research report on Rift. Email gminia.bspcapital@bsp.com.pg to receive a copy.
PNG Stock Update
LOCAL STOCKS
The local market concluded the week flat, with only a small volume changing hands for BSP and NBO at K0.98 and K9.50 respectively. While in London saw NBPO closed at GBP2.63 as IOL rallied nearly 2 percent reaching a high of US$20.00.
This morning has offers for CGA as low as K0.96 and NBO buyers are lined up at K9.60.
RESEARCH
New report released on Rift Oil today. Email gminia.bspcapital@bsp.com.pg to be sent a copy.
The local market concluded the week flat, with only a small volume changing hands for BSP and NBO at K0.98 and K9.50 respectively. While in London saw NBPO closed at GBP2.63 as IOL rallied nearly 2 percent reaching a high of US$20.00.
This morning has offers for CGA as low as K0.96 and NBO buyers are lined up at K9.60.
RESEARCH
New report released on Rift Oil today. Email gminia.bspcapital@bsp.com.pg to be sent a copy.
Friday, February 13, 2009
POMSoX UPDATE
LOCAL STOCKS
Trading was not as active yesterday with light volumes changing hands. LGL saw trades go through at K5.00 while the offers for NBO closed at K10.00. Last night in London had NBPO finished up 12 percent registering trades at GBP2.60, while IOC ended at US$19.00 in the US.
The market today will be off to a sluggish start but should settle stronger on the back of more positive news from the trading companies. With offers for CPL are at a low of K2.50 in the pre-open stages of the market.
MOVERS
Yesterday’s mover on POMSoX 12/02/09:
BSP:-1.01%
Trading was not as active yesterday with light volumes changing hands. LGL saw trades go through at K5.00 while the offers for NBO closed at K10.00. Last night in London had NBPO finished up 12 percent registering trades at GBP2.60, while IOC ended at US$19.00 in the US.
The market today will be off to a sluggish start but should settle stronger on the back of more positive news from the trading companies. With offers for CPL are at a low of K2.50 in the pre-open stages of the market.
MOVERS
Yesterday’s mover on POMSoX 12/02/09:
BSP:-1.01%
Wednesday, February 11, 2009
Gold Technical Analysis
Gold’s recent stall around the $900 level has locked the market into a range of around $890 to $920. Longer term technical signals remain bullish here, but some signs of the trend slowing down are starting to emerge. We’d remain bullish while market holds above recent range low $890, but consider reversing to bearish on a break below this level.
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