Sino Gold (SGX): Winner

Submitted by Craig Strzelecki on 22 September, 2007 - 12:56

Sino Gold (SGX) was the overall best performing stock taking in a 20.67 percent increase. Among the best performing companies for the past week (week 38 of 2007) on the Australian sharemarket were a mixture of oil & gas, metal and mining: Newcrest (NCM), Lihir Gold (LHG), Oil Search (OSH), Sino Gold (SGX), Sally Malay (SMY), Western Areas (WSA). All the above best performing stocks for week 38 managed more than 13.5 percent gain by the end of the trading week. The majority of companies in this list were mining companies.

Newcrest, a leading international gold company and one of the world's lowest cost gold producers, was the best performing stock securing the first place in the ASX 100 index seeing 15.16 percent rise or $3.76 and closing at $28.56. Lihir Gold, the owner and developer of the Lihir Island, Papua New Guinea open pit mine and processing facility gold operation, came in the second position adding 46 cents, closing at $3.84 and increasing 13.6%. Lihir Gold was followed by Oil Search, an oil and gas exploration and development company that has been operating in Papua New Guinea since 1929, adding 2 cents, closing at $4.37 and increasing 13.5 percent. On the ASX 200 index, Sino Gold, a Sydney-based company producing from the 5.3 million ounce Jinfeng gold resource in southern China and determined to increase company's gold production to optimal levels as quickly as possible, secured the first place adding $1.22, increasing 20.67 percent and closing at $7.12 at the end of the trading week. Sally Malay came next in the line seeing 19.49 percent rise or 77 cents and closing at $4.72. Sally Malay was followed by Western Areas, which is on track to become a significant, low cost nickel producer operating long life underground mines at Forrestania with first production in October 2006, closing at $4.95 (+$0.68, +15.92%).