Maximus Resources Limited

• Coal

Afternoon resources round-up

Industrea, Perseus Mining, Central Asia Resources, Flinders Mines, Canyon Resources, Cokal, Orpheus Energy, Midas Resources, King Island Scheelite, Maximus Resources, NRW Holdings,

• Nov 11, 2011

• Market Wrap

Taking Stock

PANAUST China buys into goldminer Chinese interests have stepped up to the plate again, announcing a $180 million cornerstone investment in gold and copper miner PanAust

• May 29, 2009
• Peter Wells, Brian Corrigan, David Ciampa, Luke Forrestal and Justin Bailey

Maximus Resources (MXR)

Cash-strapped junior explorer Maximus Resources has put a suite of assets up for sale as it fights for survival

• May 28, 2009
• Luke Forrestal

Metallica wins control of Queensland Ores

Metallica Minerals (MLM) Nickel mining hopeful Metallica Minerals has taken control of metals explorer Queensland Ores after the target's major shareholder, Outback Metals, accepted its bid

• May 27, 2009
• David Ciampa

• Market Wrap

Taking Stock

HUNTLEY INVESTMENT

• Sep 22, 2008
• Peter Wells

Maximus Resources (MXR)

Adelaide-based minerals explorer Maximus is down about 55 per cent for the year and is now trading just above all-time lows.

• Sep 19, 2008
• David Ciampa

Uranium shareholders approve merger

Uranium King (UKL) Shareholders of Uranium King, based in Western Australia, voted to approve a scheme of arrangement to merge with Monaro Mining (MRO), the companies announced on Thursday. The merged company would control eleven projects in the United States, Kyrgyz, Estonia and Australia, aiming to have two 100 per cent-owned US projects producing within two to four years. The company is also working with China's largest resource trading house, Sinosteel, to explore deposits in Kyrgyz under a heads of agreement signed in January 2008. Monaro says its Kyrgyz tenements in central Asia hold potential for gold as well. Uranium King raised $6.5 million in September 2006 when it first listed on the Australian Securities Exchange, and its market capitalisation has nearly doubled to $11 million. The company is also in the process of listing on the American Stock Exchange and the Frankfurt Stock Exchange. Its shares closed up 2¢ at 35¢ on Friday. Extract Resources (EXT) Perth-based uranium explorer Extract Resources completed a $30.5 million raising priced at $1.10 a share, pulling its shares back on Friday. The stock closed down 2¢ at $1.15 on Friday. The new funds - raised through Patersons Securities, BBY and Haywood Securities - will be directed towards its Rossing South and Ida Dome projects in Namibia. At Rossing, South Extract believes it has found an extension to Rio Tinto's Rossing uranium deposit, which has been mined for more than 30 years. Initial resource estimates are expected for both prospects this year and definitive feasibility work will also be started. Extract shares have trended sideways in the past month as the uranium price has failed to recover from its recent weakness. The quoted spot price is now at $US59 a pound, well down from the $US90 a pound it was fetching at the start of 2008. Maximus Resources (MXR) South Australian-headquartered polymetallic exploration company Maximus Resources announced the results of further drilling intersects at its Canegrass Iron Ore prospect in Western Australia's Midwest region. The best zones revealed magnetite grading between 30 and 40 per cent iron, although further work is required to identify which zones could be commercially exploited. The release was issued to ensure disclosure as the company predicts a long wait for full assay results. Drilling work last December revealed assays grading 55 to 59 per cent iron, as well as titanium and vanadium. The company hopes to have defined an initial inferred resource by the end of the September 2008 quarter. Its shares closed down 1¢ at 20¢ on Friday.

• Jun 13, 2008
• Ayesha de Kretser

Investors take a shine to iron ore hopeful

Giralia Resources (GIR) Fortescue Metals' rally beyond the $10-a-share mark this week dragged up the shares of a range of iron ore hopefuls, Giralia among them. Investors are clearly keen on the blue-sky potential of Giralia's suite of iron ore, nickel, gold and uranium prospects - some held in allotments adjacent to major projects including Midwest Corp's Weld Range iron ore project. But buying interest was also helped by a roadshow presentation in Europe this week, which outlined bullish forecasts on predicted levels of iron ore contained at its Earaheedy project. Based on old drilling records from the site dating back to the 1970s, the company forecasts the site contains between 750 million and 1.25 billion tonnes of high-grade iron ore. Investors keen to buy into the next scalable iron ore producer clearly liked the news, and Giralia stock was bid to a record high of $2.52 on Thursday before closing at $2.48, up 20¢, or 8.8 per cent. The company listed on the Australian Stock Exchange in April 2006 at 40¢ a share, and the stock has gained consistently since. Importantly for a mining junior, the company has institutional backing on its registry. Perpetual is the third-largest shareholder, with just over 5 per cent of the company. Maximus Resources (MXR) The iron ore explorer burst onto screens only in the past month when shares more than doubled in one session after it stunned the market with huge resource estimates at its Windimurra vanadium mine in Western Australia. Earlier estimates were based on modelling and no drilling, but on Thursday Maximus said drilling work completed since suggests the site contains at least 55 per cent iron ore. The market clearly liked the news and the stock was bid another 12.2 per cent higher to 23¢. Maximus has said the resource could contain up to 3 billion tonnes of magnetite, which is a lower grade of iron ore and is generally more costly and energy-consuming to mine than the traditional Pilbara hematite mined by Rio Tinto, BHP Billiton and Fortescue. Maximus Resources is a spin-off from Flinders Resources and has three Flinders directors on its board of four. Tutt Bryant (TBG) Crane hire, distribution and equipment hire group Tutt Bryant had its strongest session in three months on Thursday, thanks to a solid full-year profit result. Shares rose 14¢, or 9.3 per cent, to $1.65 a share after it declared net profit rose 107 per cent to $26.6 million in the year ended March 31. Revenue rose 31.3 per cent to $302.8 million on a combination of both acquisition-led and organic growth. A final dividend of 4.5¢, fully franked, will be paid on July 18. Meanwhile, investors should expect the company to continue its acquisitive phase. Management said at its first-half result late last year that it had as many as five different takeover targets in mind and wouldn't necessarily shy away from a larger acquisition. The group has since made two acquisitions, one in December with the purchase of Bradshaw Ultra Heavy Haulage and another earlier this month, when it paid $5.2 million for Caradel Hire. Acquisitions completed in fiscal 2007 were cited by management as being a strong contributor to profit in the full year.

• May 29, 2008
• Emily Parkinson