AUSTRALIA Gold stocks discounted

Press, 20 February 1988, Page 29

AUSTRALIA Gold stocks discounted

NZPA-AAP Sydney The national sharemarket closed barely steady, recovering most of the losses sustained in early trade in response to falls on offshore markets and softer bullion prices overnight, brokers said.

"The market held up remarkably well considering Wall Street's Dow Jones was off 14 points overnight,” one broker said. At the close the all ordinaries was down .8 of a point at 1243.0, recovering from an early low of 1236.3. The gold index closed 13.5 points lower at 1543.3 after being down 30 points at one stage. The all resources fell 3.4 points to 675.5 while the all industrials gained 3.5 to 1993.4. National turnover was a light 103.46 million shares worth sAustl26.2sM and falls narrowly outnumbered rises.

Gold stocks were discounted after bullion prices slumped 5U53.25 to 5U5442.75 an ounce, with 10c falls taking Pan Australian to

225 c, Nuigini Mining to 385 c and Metana to 680 c. Kidston was steady at 390 c and Emperor lost 5c to 235 c, while Peko-Wallsend gained 30c to 710 c as its, merger partner North BH shed 2c to 238 c. Elsewhere Westfield Holdings was up 7c to 480 c, Pioneer 6c at 234, Woolworths 5c at 225 c and BHP 2c at 676 c. Those to lose included Lend Lease, down 10c to 1100 c, News Corp 5c to 1165 c, Brambles 4c to 816 c and FAI 5c to 410 c, despite news the National Companies and Securities Commission would not take legal action over its Cumberland share trading. Cumberland gained 4c to 86c, above the 85c offered by suitor TNT, on heavy turnover of 4.18 M shares.

TNT, which lost 4c to 394 c, released its Part A yesterday but Cumberland directors advised against selling.

March SPI futures closed one point firmer at 1232.

Closing quotes Dividends P/E Year’s Buy Sell Sale Cents Yld% ratio high low 392 395 395 ACI 17.00 4.30 15.9 415 365 88 90 88 AFPInvst —— — 41.9 90 72 370 385 370 AGC 11.00 2.97 11.3 370 240 160 162 160 ANI 9.33 5.83 8.6 175 144 420 580 — 91nts 34.10 8.12 — 425 380 305 315 315 96nts 30.50 9.68 — 340 302 350 — 350 ANZ 21.00 6.00 6.4 370 332 200 — 205 AWA 10.50 5.12 — 230 185 110 115 —— Acmex 10.00 8.70 8.3 130 100 440 — 440 AdelStm 36.00 8.18 3.3 445 400 880 — 880 Ad'tiser 12.00 1.36 36.2 880 850 150 — 150 Alcon 4.00 2.67 21.4 150 130 42 — — Alkair — — 8.2 45 35 18 19 18 Alpha — — 9.5 19 12 18 — — delx — —— — — — 754 770 770 Amatil 24.40 3.17 12.0 774 650 700 — B 24.40 3.49 10.9 704 700 362 364 364 Amcor 21.00 5.77 10.3 420 354 357 362 360 Ampol 7.50 2.08 10.0 370 320 98 —— ApexPac 6.00 6.12 24.5 100 100 — 220 220 Argo 11.00 5.00 23.4 220 205 41 42 41 Ariadne 10.00 4.39 1.3 52 41 450 460 Arnotts 15.50 3.44 18.3 470 400 285 Arrowfeld 10.00 3.64 11.9 300 260 140 opt — — . — 140 140 110 110 AFound 5.50 5.00 20.0 112 102 33 34 — AustOvrs 1.00 3.03 37.9 34 31 674 680 676 BHP 31.25 4.62 12.8 734 628 31 32 — BTGlobal 2.00 6.45 4.5 32 30 666 676 670 BTRNylex 12.00 1.79 24.3 700 600 270 — — BankQld 15.00 5.56 11.9 270 260 17 — — Barwon 1.00 5.88 7.6 22 15 142 143 142 BellG 10.00 7.04 1.9 190 138 — 1100 — pref 39.00 3.55 — — — 132 134 133 BellRes 12.50 9.40 — 165 120 1 2 — Bisleyopt — —. — 3 1 165 166 165 BondCorp 12.00 7.27 6.7 185 149 50 51 50 BondMed — — 29.4 60 45 9 10 opt — — —— 12 8 362 365 362 Boral 18.00 4.97 10.9 380 325 122 130 122 Botena — — 4.2 123 120 820 830' 820 Brambles 26.00 3.17 13.5 844 740 820 — — 90nts 30.75 3.75 — 830 750 350 355 350 BrickP 9.00 2.57 17.9 352 310 106 110 108 Brierley 9.40 8.70 4.4 190 108 250 260 260 Bundaberg 6.50 2.50 24.1 290 220 385 390 390 BurnsP 10.00 2.56 10.7 406 360 38 42 — C.R.P.Tr — — — 40 32 420 425 420 CIG 17.00 4.05 14.1 430 400 340 350 340 CSR 20.00 5.88 13.9 360 305 235 238 235 Cadbury 7.00 2.98 19.4 250 225 60 65 65 ChaseCrp 11.87 8.26 1.7 98 65 35 — Claradeen —— — 8.8 72 35 122 125 126 ClytnRob 5.00 4.00 7.1 155 70 160 165 165 Clyde 11.25 6.82 11.8 165 140 335 — — CoalAll 20.00 5.97 6.7 350 320 600 606 600 ColesM 24.00 4.00 12.4 630 570 263 265 265 Comalco 6.00 2.26 37.3 280 220 7 10 10 Cortaus — — 2.5 10 10 240 250 240 Costain 10.00 4.17 12.3 250 185 25 40 — DeakMorg 5.00 2.50 2.8 60 50 235 — — EDunlop 8.00 3.33 14.9 250 225 28 30 ■—— Eastcourt — — 4.1 32 30 308 310 310 Elders 19.00 6.13 5.5 330 270 277 280 280 Email 12.70 4.54 11.4 285 230 75 76 75 Equitcorp 2.50 3.33 3.1 85 75 46 — 46 EuroNat — — 1.8 55 40 408 410 410 FAI 8.00 1.95 8.0 590 405 220 — — Feltex 13.16 5.26 5.1 250 250 90 95 85 FineMet — — 6.9 106 80 370 378 — Fletcher 22.09 5.97 8.1 405 362 90 100 90 Fortuna 12.69 4.10 4.0 120 90 275' 277 275 GPT 23.20 8.44 11.9 290 270 216 218 218 Goodman 11.00 5.05 9.8 292 185 — 70 55 HDFI 10.00 8.18 2.5 80 55 150 160 — Hanimex 5.00 3.33 9.4 150 125 265 266 266 HardieJ 18.00 6.77 9.9 285 245 165 170 166 HelmCorp 1.00 .60 41.5 185 160 35 40 —— Hitek — — 31.8 45 35 178 180 179 Hooker 15.00 8.38 4.8 190 168 251 255 251 Humes 13.00 5.18 12.8 260 200 — 1800 — HProp — — —- 1800 1650 436 440 440 ICI 20.00 4.55 11.7 450 400 — 101 — lELGrwth 5.76 — — — — 72 — — lELIncme 11.52 6.00 6.3 — — 75 — 75 ImaginT 3.00 4.00 7.5 80 70 150 152 150 IndEquit 10.00 6.67 4.4 170 130 70 80 70 InterPac 7.75 1.07 — 101 60 75 77 — Intrchase — — — 80 70 170 180 — Jasco 5.00 2.94 10.5 175 170 210 212 210 Jennings 10.00 4.76 11.9 215 175 520 530 530 JonesDav 36.00 6.79 2.6 550 520 80 — — JonesRbt 4.50 5.49 6.5 115 76 90 90 Jonray 4.00 4.44 6.6 90 80 190 260 —— Kern 5.50 2.89 6.1 190 150 — 100 — Kimberley — — — 100 100 — 60 — Lrchhill 16.00 3.33 0.4 70 55

30 — Lrchh opt — — — 10 10 37 42 — Leda — —- 33.9 50 37 60 61 61 Leighton — — 9.8 62 44 1090 1105 1100 LLease 45.00 4.09 13.9 1175 1010 245 250 247 Linter 20.00 8.10 6.7 280 225 460 465 460 MayneN 18.50 4.02 10.6 465 435 114 — 115 McPh’son 7.50 6.52 9.8 125 110 200 210 200 Memtec 1.00 .50 4.9 250 200 275 — — NZFor 12.22 4.44 11.0 300 260 145 150 148 NZICorp 9.87 6.67 6.7 185 145 440 442 442 NatAust 24.75 5.60 6.6 450 400 230 235 — NatCons 18.00 7.69 4.5 240 215 1165 1180 1165 NewsCorp 7.00 .60 9.1 1310 1040 275 280 275 OPSM 11.50 4.18 15.4 280 255 22 24 24 Oakbridge —— — — 28 17 375 380 375 PacDunlp 14.00 3.73 11.6 388 352 60 70 60 Parbury — — — 60 50 250 254 250 PetersSl 17.00 6.80 9.1 255 213 227 230 230 PioneerC 12.50 5.43 7.7 270 210 395 400 — QBE 14.00 3.54 9.8 395 380 440 450 445 Qintex 12.00 23.70 12.3 450 410 — 225 — ReilCorp 3.00 1.33 12.0 245 200 10 12 — Reil opt — — — 15 10 — — — Renouf —_ — 20.0 190 180 — 238 235 Rheem .9.50 4.04 15.3 240 175 25 — Rocadoln —- — — — — — 100 — ’ int 12.50 2.50 — 100 100 — 20 — opt — —— —— —— — 722 724 Rothmans 24.00 3.31 11.7 726 640 65 70 65 Rothwells 24.00 6.92 1.2 78 60 307 312 310 SmithHwd 20.00 6.45 16.0 310 270 450 506 500 SthnFarm 10.00 2.00 10.6 510 400 20 25 20 Stockbge — — — 40 15 — — — opt — — — 5 5 16 17 — TAGPac — — 4.2 25 15 394 395 394 TNT 15.00 3.81 9.8 420 370 145 180 — Taylor 10.00 6.67 2.7 175 140 — — — USMaster — — 80.0 60 55 450 — — UnionC 22.00 4.89 9.4 510 450 59 60 60 UnityCrp 5.00 8.33 — 65 58 26 30 — Vapocure — — — 30 . 25 25 26 26 Vestcorp 4.50 7.31 1.2 50 25 11 12 — Viking — — 11.0 16 10 26 27 26 Walton — — — 31 24 350 353 353 Wattyl 10.50 2.97 13.1 365 335 165 200 — WestCptl 2.00 1.00 20.7 200 170 480 482 480 WfieldHl 5.62 1.17 19.6 540 470 168 170 170 WfieldTr 16.92 9.95 10.0 190 163 67 68 68 Westmex 5.00 7.35 6.0 72 60 475 478 478 Westpac 28.50 5.96 6.5 506 450 48 50 50 WfldCap 3.00 6.00 4.0 60 45 220 225 225 Woolworth — — — 225 200 150 155 150 Wormaid 20.0 3.33 5.6 150 105 35 38 38 AUR 2.00 5.26 5.2 56 33 310 315 310 ACMins — — 20.0 465 265 350 365 360 Aberfoyle 5.00 1.39 24.0 470 340 123 125 123 Ashton — — 8.4 155 100 160 — — AustDevl — — — 210 135 76 78 78 BHPGold — — — 105 70 35 40 40 Bendigo — — ■ — 70 40 — 30 — Bendi ctg — — — 28 28 15' 20 — Bendi opt -— — — 70 19 — 10 — Bendi opt — — — 45. 10 322 326 326 Bougainvl 36.34 1.15 9.0 415 " 270 95 100 96 CNGold 4.00 4.17 9.2 140 80 550 — 554 CRA 15.00 2.71 8.9 680 447 75 80 80 CarrBoyd 6.00 7.50 11.4 105 70 39 40 40 CityRes 8.00 —— — 50 28 2 3 — ConsRes — —— — 4 2 ' 580 — — ConsRtle 45.00 7.76 7.4 640 580 105 106 106 Dominion — — — 130 80 225 230 225 ERA 5.00 2.22 17.9 260 220 235 236 235 EldersRs 7.00 • 2.98 13.2 237 205 230 235 235 Emperor 22.00 9.36 4.7 370 215 170 175 170 Forsayth 10.00 5.88 7.1 217 140 298 — 295 GMKalg 24.00 8.05 10.4 340 240 93 — 95 GiantRes — — — 140 86 4 — opt — — — 16 4 165 — Mil 150 — — 30.0 240 165 195 200 195 JasonMin — — — 315 190 12 20 — Jlana — — — 25 14 37 38 38 KiaOra 4.00 0.53 19.0 46 35 385 390 390 Kidston 28.00 7.18 8.1 480 340 50 55 — Kitchener — — — 60 55 — 26 — KiwiGold — — — 30 25 146 147 146 MIM 4.00 2.74 29.2 208 128 192 195 — MetalsEx — — 14.7 200 190 680 690 680 Metana 20.00 2.94 18.9 1000 580 35 — 35 Moruya — — — 38 28 380 390 385 Niugini — — 1.0 600 340 92 93 92 Noranda — — — 200 83 238 239 239 NorthBH 9.00 3.77 18.1 270 215 58 59 59 NthKalg 1.99 3.37 9.0 82 52 — 600 — NthFlndr 40.00 6.78 11.6 700 560 23 25 — Otter — — . — 39 22 180 185 180 PancontM 2.50 1.39 13.4 210 158 72 75' 72 Paragon — — — 78 65 46 50 50 opt — — — 58 45 100 109 102 Paringa 39.60 8.82 0.8 210 100 710 — 710 Peko 22.00 3.10 12.0 752 660 139 140 140 PlacrPac 3.00 2.14 20.0 240 123 235 240 240 Poseidon 10.00 4.17 16.0 275 185 108 110 0109 QldCoal 15.00 3.76 7.3 118 105 700 710 700 RGC 15.00 2.14 16.3 980 630 580 590 580 SnsGwlia 50.00 8.62 7.8 760 500 28 —- 28 Spargos — — — 38 24 26 29 29 SthnPac — — — 35 26 15 22 — Technomin —— — — 23 20 — 15 — TitanRes — — 20 14 2 5 — opt — —— 5 2 443 444 443 WMC 20.00 4.51 34.3 620 386 — 135 122 WalMin —. — —— 150 110 160 — 165 WestSand 8.00 4.85 8.7 165 125 — 64 63 AOG — —— 8.3 77 55 284 285 287 AmpolExp — — 23.0 310 265 28 29 28 Beach 1.50 5.36 10.4 33 28 62 64 64 Bridge — — — 82 55 22 23 22 Brid opt — — — 40 18 26 27 27 Claremont 3.50 2.96 9.0 38 25 105 115 105 Crusader ■ 2.50 2.38 18.1 131 100 12 22 — Cultus —— —— — 22 16 41 47 — Expo dd 6.00 4.63 4.0 47 38 145 150 150 Hartogen — — 17.4 180 140 4 15 — L’reachO — . — — — 285 300 — Magellan — — 78.5 320 240 5 6 —- Magnet — —— — 10 5 81 85 82 OilSch — — — 100 65 95 98 98 PekoOil — — 49.0 100 80 2 3 — Petroz — — — 3 2 390 395 390 Santos 18.00 4.62 10.5 420 360 270 — 270 Vamgas 6.00 2.22 25.7 275 210 1075 — WeeksPet . — — 46.0 — — 131 133 133 Woodside — — — 135 115