exploration

Brisbane-based coal explorer Bandanna Energy (BND) is seeking for partnerships to help in funding the development of its mines in Queensland's Bowen Basin. Bandanna is currently pursuing discussions with a number of third parties interested for partnerships.

BHP Billiton (BHP) has decided to buy five tenements nearby its Olympic Dam mine from Archer Exploration (AXE) for $3 million. The deal between the companies will bring BHP to an 80 per cent interest in the five tenements at West Roxby.

Shares of Indonesian focused gold explorer Arc Exploration (ARX) fell by 20 percent or 0.2 cents at 0.8 cents this morning as it halts some of its operations after the deaths of two people in a gold exploration protest in Bima, East Sumbawa. Gold exploration protesters blockaded the local port of Sape and clashed with the police as the latter tries to reopen the port on Christmas Eve, resulting to the two fatalities.

Mining company Santos (STO) have agreed with the farmers and state government to delay its coal-seam gas exploration at its Georges Island site where 90 farmers staged a blockade for 20 days.

Eastern Star Gas (ESG), a company that concentrates on conventional and coalbed methane gas exploration and production was the best performer of the week in ASX200 with a gain of 22.7 percent closing the week at 87 cents (market capitalisation $754.5 million). The company traded its stocks for 71 cents last week.

The Western Australia based iron exploration and mining company BC Iron (BCI) has declared that it is going to move forward with its multimillion dollar worth of Nullagine iron ore join venture project by following the schedule. The declaration came in at a time when the entire mining industry of Australia is engaged into a debate with the federal Government regarding the effects the tax would have in this sector. BC Iron too has expressed its concerns regarding the tax.

Nufarm (NUF), a company that concentrates in the production and distribution of agricultural chemicals to farmers was the worst performer in the ASX100 list for the week. The company lost 5.9 percent or 52 cents to its stock price and was closed for the week at $8.19.

Lihir Gold Limited (LGL), an Australia based company with concentration on gold mining, exploration and processing in the Australasian region was the best performer for this week in ASX100 with a gain of 33.7 percent or $1.02 to its stock price closing the week at $4.04.

Aristocrat Leisure (ALL), a gaming company that develops gaming machines, software systems and other related equipment and runs business in Americas, Asia Pacific and Europe was the number one winning company of the 12th week in ASX100 with a gain of 7.3 percent or 32 cents to its stock price closing the week at $4.65 (market capitalisation $2480.2 million).

BlueScope Steel (BSL), a renowned investor in the steel industry that concentrates in Europe, North America and Asia Pacific was the best performer of the 8th week in ASX100 with a gain of 10.3 percent or 25 cents closing the week at $2.67.