Pan Australian Resources (PNA): Winner

Submitted by Craig Strzelecki on 20 October, 2007 - 15:56

Pan Australian Resources (PNA) was the overall best performing stock taking in a 13.09 percent increase. Among the best performing companies for the week 42 of 2007 on the Australian sharemarket were a mixture of energy, metal & mining, drilling services and agribusiness: Paladin Energy (PDN), Newcrest (NCM), Boart Longyear (BLY), Pan Australian Resources (PNA), AWB (AWB), Mt. Gibson Iron (MGX). All the above best performing stocks for week 42 managed more than 5 percent gain by the end of the trading week. The week’s highlight was the majority of metal and mining companies.

Paladin Energy, Australia’s second biggest sole uranium mining company behind Energy Resources, which is majority owned by mining giant Rio Tinto, was the best performing stock securing the first place in the ASX 100 index seeing 11.52 percent rise or 78 cents and closing at $7.55. Newcrest, a leading international gold company and one of the world's lowest cost gold producers, was the next in the line adding $1.84, increasing 6.55 percent and closing at $29.93. Newcrest was followed by Boart Longyear, a trusted partner and global leader in providing world-class drilling services and products to the customers, seeing 5 percent rise or 12 cents and closing at $2.52. On the ASX 200 index, Pan Australian Resources secured the first place seeing 13.09 percent rise or 11 cents and closing at 95 cents. Pan Australian Resources was followed by AWB, Australia's leading agribusiness and employs more than 2,200 people across more than 500 points of presence, adding 31 cents, increasing 12.65 percent and closing at $2.76. Mt. Gibson Iron, who leads the consolidation of the junior iron ore industry, with the successful takeover of Aztec Resources which has built a sustainable platform for future shareholder growth, secured the third position for the best performing stocks for the ASX 200 index adding 30 cents (+12.24%) and closing at $2.75.