MMX
Murchison Metals (MMX) is a mineral exploration and mining Company with a core focus on iron ore exploration in Western Australia. The Company supplies premium quality iron ore to the global markets. Murchison Metals is a part of the S&P/ASX 200 Index and it listed on the Australian Stock Exchange on 1st April, 2005. MMX has a 50% shareholding in Crosslands Resources Ltd, the owner of the Jack Hills iron ore project, with the rest 50% of Crosslands owned by Mitsubishi Development Pty Ltd. Mitsubishi is a controlled entity of Japan's largest general trading company Mitsubishi Corporation.
Murchison Metals (MMX), a company that operates in the mineral exploration and mining industry with core concentration on iron exploration in Western Australia has reported sharp fall in its yearly profit despite a higher level of output. The result is seen as the reflection of a market that is declining for the bulk of commodity after the Chinese steel makers reduced their production.
WorleyParsons (WOR), a company that is engaged in the business of providing engineering project and design related services along with maintenance and reliability support services for diversified industrial segments was the worst performer in the ASX100 index losing 8.9 percent or $2.05 in its stock price and was closed for the week at $20.80.
Murchison Metals (MMX) - one of the leading iron ore exploration companies in Australia was the worst performing stock in ASX 200 on week 25. The company lost 23.4 percent or 51 cents on the share market. Some other worst performing stocks of this list were Gloucester Coal (GCL), Kagara Zinc (KZL), Paper Linx (PPX), ING Industrial Fund (IIF) and Paladin Energy (PDN).
Primary Healthcare (PRY), a leading company in the Australian healthcare industry that offers medical and healthcare based services in different parts of the country was the top performing company in the ASX100 which had an increase of 37 cents or 8 percent in its stocks.
It was officially revealed today that Rudd government has officially prohibited any move by China's state owned Sinosteel to acquire stakes in Murchison Metal. The Foreign Investment Review Board would delay its decision for 90 days about Chinese take over bid on West Australia's mining company. Rudd government is planning for new regime that would limit foreign stakes in Australian companies or their take over.
Chinese steelmaking giant Sinosteel Corporation is finally edging nearer to takeover management of control of Midwest Corporation (MIS). Sinosteel has made significant changes in a notice to its shareholders stating that it now has voting stake of 33.82 percent in Midwest Corporation which means it owns nearly one-third voting power in Midwest. It raised its stake in Midwest to 28.37 percent which is about 20 percent higher than its previous bid.
Sinosteel claimed today that it has got a nod on the Midwest deal and it shall not have to get a re-endorsement from Foreign Investment Review Board on combined take over of Midwest-Murchison Metal group. It also distanced itself from last weeks comment from one of its senior executives regarding improvement of its $6.38 a-share bid.
Paladin Energy (PDN) was the overall worst performing stock taking in 18.33 percent decrease. Among the worst performing stocks for the week 46 of 2007 of the Australian sharemarket were a mixture of energy, petroleum, mining and oil exploration: Paladin Energy (PDN), Woodside Petroleum (WPL), Lihir Gold (LHG), AED Oil (AED). These worst performing stocks for week 46 of 2007 recorded losses above 10.77 percent by the end of the trading week.
Lynas Corporation (LYS) was the overall best performing stock taking in a 20.09 percent increase. Among the best performing companies for the past week (week 39 of 2007) on the Australian sharemarket were a mixture of financial services, aviation, metal and mining: Allco Finance (AFG), Babcock & Brown Air (BNB), Fortescue (FMG), Lynas Corporation (LYC), Mt. Gibson Iron (MGX), Murchison Metals (MMX). The majority of the best performing companies were metal & mining companies.
Search
Must Read Articles
- Australian Electronics Retailer Companies
- Australian Fashion Companies
- 8 Steps to Scalp the Forex Market
- Australian Media Companies
- Australian Television Companies
- Australian Newspaper Companies
- Australian Publishing Companies
- Australian Internet Companies
- Australian Radio Companies
- Australian Telecommunications Companies
- Australian Automobile Industry Companies
- Australian Capital Goods Companies
- Australian Commercial Services Companies
- Australian Consumer Durables Companies
- Australian Consumer Services Companies
- Australian Online Share Trading
- List of Trading Books
- Interesting Thoughts about the Australian Dollar
- What's the Meaning of Hawkish?
- Do You Know How To Use the P/E Ratio
- Trading, Religion and Politics - Do They Have Anything in Common?
- Shares that are Volatile that Double and Half in the Short Term
- Telstra (TLS) T3
- Margin Call by E-mail
- The Cost of Holding a Position
- Lack of Disclosure: Compensation from ASX Listed Company
- Unrealistic Returns and Benchmarks
- CMC Markets Down
- Quality versus Quantity Forex Trading
- Trading Risk and Leverage Case Study
- China Exonerates Rio Tinto on Merger
Date added 14-03-2010 - The Losing Companies of the 10th Week
Date added 13-03-2010 - The Winning Companies of the 10th Week
Date added 13-03-2010 - Oroton Profitable
Date added 11-03-2010 - Myer Sales Warning
Date added 11-03-2010 - Orica's Tax Bill
Date added 10-03-2010 - Qantas Yields Turnaround
Date added 10-03-2010 - Qantas Troubles
Date added 09-03-2010 - Top 3 Winners of the ASX for This Week
Date added 09-03-2010 - Top 3 Losers of the ASX for This Week
Date added 09-03-2010 - Arrow Energy Takeover Bid
Date added 08-03-2010 - Australian Gold Mines 2010
Date added 07-03-2010 - Dai-Ichi Mutual Life Insurance APRA Approval
Date added 04-03-2010 - Coking Coal Prices Jump
Date added 03-03-2010 - Tatts Group Buys NSW Lotteries
Date added 01-03-2010
Top 150 Public Companies Listed on the Australian Stockmarket as at 29/05/2009
- BHP Billiton
- Westpac Banking Corporation (WBC)
- Commonwealth Bank of Australia (CBA)
- National Australia Bank (NAB)
- Telstra (TLS)
- ANZ
- News Corporation (NWS)
- Woolworths Limited(WOW)
- Woodside Petroleum Limited (WPL)
- Rio Tinto
- Westfield Group (WDC)
- Westfarmers Limited (WES)
- QBE Insurance
- CSL
- Newcrest Mining Limited (NCM)
- Origin Energy Limited (ORG)
- Santos Limited (STO)
- AMP Limited (AMP)
- Maquarie Group (MQG)
- Foster’s Group Limited (FGL)




