Winners & Losers

Angus & Coote (ANC) was the best performing company of the week (Week 47 of 2006) on the Australian sharemarket. (Winner of the week) The ANC share price closed the week 36 percent higher after accepting a bid from a rival jeweller. James Pascoe, a New Zealand jeweler offered ANC $6.40 per share, valuing the Australian jeweller at $76 million. James Pascoe already owned 15 percent. The move makes James Pascoe Australasia's largest jeweller. Angus & Coote's major shareholder is the Coote family who hold 60 percent.

Centennial Coal (CEY) is the Loser of the week (week 46 of 2006) – the worst performing company on the Australian stock market this week. The coal mining company closed the week 29 percent lower after a disappointing strategic review. Centennial Coal reported that full year profit may drop as much as 36 percent because it will write down the value of its Newstan mine. Newstan will complete longwall mining in mid-2008 and then be put on care and maintenance, the company said.

Globe Uranium (GBE) is the winner of the week (week 46 of 2006) – the best performing company on the Australian stock market this week. The uranium mining company closed the week 32 percent higher on news of a uranium discovery in Malawi which the company released on the ASX on the 14th November. They reported that there was a greenfields uranium discovery at Kanyika in central Malawi. Globe Uranium is planning a follow-up exploration which will include trenching, detailed mapping and sampling and then drilling of high grade zones.

PowerTel (PWT) was the best performing company on the Australian sharemarket this week (Winner of the week for week 45 of 2006). This telecommunications company closed the week 17 percent higher after news of their share buyback. As part of the company's capitalmanagement initiative, PowerTel have launched a share buy-back program for the purchase of 10 percent of its share base which is 13.9 million shares.

Gale Pacific (GAP) was the worst performing company on the Australian sharemarket this week (Loser of the week for week 45 of 2006). The advanced polymer producing company closed the week 19 percent lower. Annual profit expectations had been cut after poor sales in Europe. Gale Pacific now expects a net profit of about $2 million in 2006/07, more than $5 million less than its previous forecast, and a net profit in 2007/08, of around $7 million.

Rinker (RIN) was the best performing stock on the Australian sharemarket this week. (Winner of the week for week 43 of 2006) Rinker closed the trading week27 percent higher after a bid for the company at $17. However stock analyst and stock broker Credit Suisse have said that Cemex (the Mexican company bidding for Rinker) could pay up to US$15 a share (around $19.50) and still create value. Stock analysts in Australia have commented that the offer as it stands is too low and Cemex will have to increase the bid to between $17 to $21 a share.

Geodynamics was the worst performing stock on the Australian sharemarket this week. (Loser of the week for week 43 of 2006) Geodynamics (GDY) closed the trading week 19 percent lower. The GDY share price has slumped on news that the federal government’s decision not to offer a grant to support its proposed Stage Three 40 megawatt demonstration power station. Geodynamics was hoping for a slice of the government’s $500 million Low Emission Technology Demonstration Fund.

Flight Centre (FLT) is the best performing stock on the Australian sharemarket this week (Winner of the week for week 43 of 2006). The FLT stock closed the week 24 percent higher after a bid for the company. There is a bid by its founders to delist the travel company in a $1.6 billion private equity bid. Founding shareholders led by executive director Graham Turner own 57 per cent of the company, and are offering $17.20 a share to buy out minorities in conjunction with Pacific Equity Partners.

Chemeq (CMQ) was the worst performing stock on the Australian sharemarket this week (Loser of the week for week 43 of 2006). The CMQ stock closed the week 33 percent lower after one of its major bondholders claimed an event of default. Chemeq had been thrown a financial lifeline 18 months ago from Stark Trading, a US investment fund. They demanded immediate payment of a $50 million debt by the Perth based animal drug company which only had $19 million at the end of last month.

Mincor Resources (MCR) was the best performing company on the Australian sharemarket for week 42 of 2006 (Winner of the week). Mincor Resources closed the week higher by 23 percent from a continued squeeze on the supply side for nickel as well as a WA nickel conference.