Mining market steadies but trading erratic

Press, Volume CXI, Issue 32588, 23 April 1971, Page 16

Mining market steadies but trading erratic

Mining stocks finished below their best prices in a mixed market on Australian stock exchanges yesterday. Oils were unsettled and industrials remained firm in quiet trading.

Allied Minerals rose to 98c but closed 21c down at 80c, while Western Titanium rose 24c to 560 c. Metals Ex, traded as high as 650 c and closed 20c up at 620 c. A.C.M. clvosed 8c down at 38c after selling at 52c. North B. H. put on 20c to 1410 c on the resumption of mining operations. B. H. South gained 15c to 330 c. Kathleen Investments rose 30c to 920 c, and Queensland Mines put on 100 c to 2400 c. Among the oils, Ampol Ex shed 5c to 115 c, while Clarence and Timor dropped 1c each. Woodside, Beaver and Harbourside were marginally firmer.

Industrials were steady, and moves were small. Cheney dropped 35c to 105 c and Phillip Morris was marginally easier. Lindeman firmed 5c to 400 c. B.H.P. firmed 10c to 1440 c and E.Z.1., Myers and Austim also gained. C.S.R., Comalco and Ansett eased.

SYDNEY Sales.—Ampol, 66; Ansett, 62; A.W.A., 120; A.N.Z., 600; A.G.C., 195; A.N.1., 90; 8.N.9.W., 598; Bl Mtl, 145; Borg, 210; Bramble, 181; Brit. Tob., 190; 8.H.P., 450; P. Burns, 275; Carp, 178; C’maine. 725; C’reach, 15; Clyde, 85; Coal Al, 155; C.S.R., 598; C.A.G.A., 358; Comalco, 415; Com. of Syd., 202; Cone. Ind., 75; Custom, 185; ■E.Z.I., 320; Elders, 145; Fairfax, 200; Fairymead, 227; F. and T., 96; Hardie, 360; Hooker, 118; iI.A.C., 158; 1.R.H., 60; D. Jones, 153; L.N.C., 118; L. Lease, 300; Lifesavers, 167; Lindeman, 400; M. 520; Mainline, 225; Mar-, rick, 65; Mauri. 91; Miller, 132; N. Forest, 352; Newbold. 85; N-Z. News, 340; Olims, 30; Paynter, 170; Penfold, 165; P.G.H., 85; Pioneer C., Ill; Pioneer S., 200; Qld Ins., 285; Rothmans, 205;

Sims, 105; Austim, 107; Sleigh, 57; Sth Brit., 570; Taubmans, 72; Thiess, 382; Tooheys, 168; Tooth, 504; T.N.T., 145; Travelodge, 87; Waltons, 112; W/wths, 75.

Mining, oil.—Allstate, 39; Assoc. Min., 550; B.H. Sth, 330; Carr. Boyd, 84; Cleveland, 95: Com. Min., 23; Con. Gold, 780; Con. Rut, 315; C.R.A., 1110; Eastmet, 49; G.M. Kalg., 40; Hamersley, 500; Hill 50, 38; Kambalda, 8; Kath. Inv., 920; Laverton, 40; Malllna, 75; M.K.U., 185; M.1.M., 358; New 8.H., 1400; Nth Deb., 58; Nthn Min., 62; Parlnga, 14; Peko, 1100; Planet Met., 41; Project Mining, 15; Poseidon, 4000; Qld Mines, 2450; Scamander, 40; Tasminex, 101; Westrallan, 40; Woodreef, 17; Allodev, 21; Ampol Ex., 118; A.A.0., 120; A.0.G., 38; Bounty, 4J; Clarence, 90; Exoil. 30; Genoa, 14; Longreach, 14; Oil Search, 32; Pexa 3J; Planet OU, 20; Timor, 37; Westmoreland, 27; Woodside, 37.

MELBOURNE Sales.—Ampol, 65; Ansett, 62; A.R.C., 112; Assoc. Pulp, 148; A.C.1., 162; A.K. Cement, 95; A.P.M., 177; 8.N.5.W., 598; Boral, 155; 8.H.P., 1440; CAriton, 385, and Z, 370: Comalco, 430; Carrier, 94; Coles, 81; C.S.R., 594; C.8.A., 208: Com. Union, 160; Containers, 195; Cyclone, 104; Dunlop, 118: Email, 65; E.Z.1., 325; F. and T., 98; G. and Gotch, 135; Gud., 300; Hardie, 120; Herald, 370; Hooker. 119; Humes, 165; 1.C.1.A.N.Z., 153; Jennings, 120; M. B: John, 120; H. Jones, 227; Kauri, 13; Kelvinator, 88;

Mayne Nick., 131; McUwralth, 78; McPhersons, 55; Minster, 134; Myer, 246; Nat Bank, 292; Nat. Consol., 155; N.Z. News, 340; Nylex, 105; Olympic, 75; Overseas, 169; Petersville, 19; Repco, 187; Sleigh, 58; H.-Smith, 265; Swan, 235; T.N.T., 145. Minina, oil—A.AiO., 118; Aberfoyle, 125; Aust. Dev., 115; Basin, 94; Beach, 40; Bounty, 5, and opts 1J B.H. Sth, 330; Norseman, 195; Con. Gold, 780; C.R.A., 1110; Gt Boulder, 290; Hamersley, 498; Interstate, 23; Loloma, 160; Magellan, 140; Met. Ex., 620; M.1.M.. 360; New 8.H., 1410; Nth 8.H., 105; OU Search, 32; Petro. Mln., 17; Sthland, 225; West Mln., 508; West Titan, 560.

Shell, Esso find more oil

(N.Z.PA.-Reuter—Copyright) LONDON, April 22. Shell and Esso have struck oil in the North Sea—for the second time this year. The exploring company, Shell U.K. Exploration and Production, made the announcement. The “Evening News” said that it was clearly an important strike for the company’s policy was to keep very quiet until it was fairly sure of success. The find is 160 miles due east of Dundee . . . about 21 miles from the strike in January. The company said that although the new well was being tested at encouraging rates, similar to those of the first well, it was still too early to make “any definite assessment of the oil reserves present.”

Unit Trusts

Amalg. Batteries. Interim dividend 5 per cent (last year 5 and 5 per cent, plus 2 per cent bonus) and 2.5 per cent on the new shares from last year’s issue; payable May 14, ex May 10.

Buy Sell First N.Z. Unit 77 88 N.Z. Incom. • .. 59 65 N.Z. Accum. .. .. 109 123 Investors .. 64 69 Sec. First .. 122 127 United 48 55