All Ords falls but which resource companies sped ahead 10% or more?

Australian stocks continued to fall with resource stocks pulling the All Ords down 33.6 points or 0.7% to 5131.

While BHP Billiton (ASX:BHP) fell 3.2% to a fresh five-year low of $27.42 these junior resource companies recorded gains of more than 10% today.

Shares in Argonaut Resources (ASX:ARE) rose 25% to $0.015.

The company is developing its flagship Lumwana West Copper Project in Zambia with Antofagasta as partner.

Antofagasta (LON:ANTO) is a 700000 tonne per annum Chilean copper and gold producer that is listed on the London Stock Exchange and is capitalised at A$12.7 billion.

If the project is feasible Argonaut is either carried into production or bought-out prior to construction.

The two companies have to date completed 5220m of diamond core drilling for 22 holes at Argonaut’s flagship Lumwana West copper project in Zambia.

Lumwana West is located in the Central African Copperbelt North-Western Province Zambia and is prospective for large tonnage low to medium grade copper deposits. There are several major mines nearby which are hosted in similar geological settings.

Aziana (ASX:AZK) rose 25% to $0.02. Earlier this month it reached an agreement to sell its Louisiana Oil and Gas Project in the Gulf of Mexico to local operator Triumph Energy I for US$12.5 million ($14.8 million).

This consists of a US$250000 cash consideration upon closing on or before 4 December 2014 and a 3.5% Over Riding Royalty Interest (ORRI) from production capped at US$12.25 million.

Triumph Energy is a financially capable local operator with production facilities on the nearby Main Pass Block 35 field.

It has secured a funding package to develop the Louisiana Oil and Gas Project and expects to commence development drilling during February 2015.

Latin Resources (ASX:LRS) is up 13.3% to $0.017. It recently entered into a funding agreement of up to $3.125 million with The Lind Partners.

The proceeds will primarily be used to fund Latin’s strategy of developing its Ilo Copper projects and the Guadalupito Andalusite project.

Ongoing drilling at Ilo Este has seen the first hole intersect 200 metres of continuous copper and gold mineralisation from surface.

Highest grades intersected are 0.34% copper 1.4 grams per tonne gold 251ppm molybdenum and 5.4g/t silver.

Shares in Tiaro Coal (ASX:TCM) rose 16.7% to $0.007.

In November the company raised $1.3 million through the rights issue to progress its exploration and project assessment activities and retire an intercompany loan with subsidiary Paragon Coal Pty Ltd.

Tiaro holds interests in various Queensland projects covering coal prospects in the Maryborough and Galilee Coal Basins.

The company has been progressing plans to develop a coking-PCI coal mine in Queensland with its T9 West Project Pre-Feasibility Study now at the mine planning and economic analysis stage.

The Mesozoic Maryborough Basin is located between Gympie and Bundaberg in the in the Wide Bay - Burnett region of southeast Queensland.

The region is well serviced by nearby infrastructure including manpower mining support services road rail and port facilities.

The rail line between Brisbane and Gladstone bisects the basin.


And now for the blue chips.

Major Miners
 
Fortescue Metals Group (ASX:FMG) down 3.6% to $2.39
Newcrest (ASX:NCM) down 2.7% to $10.38
Rio Tinto (ASX:RIO) down 1.6% to $52.65


Oil and Gas

Oil Search (ASX:OSH) down 2.8% to $7.06
Santos (ASX:STO) down 2.5% to $7.27
Woodside Petroleum (ASX:WPL) down 2.6% to $34.46


Big 4 Banks

ANZ Bank (ASX:ANZ) down 0.1% to $30.74
Commonwealth Bank (ASX:CBA) down 0.4% to $80.95
National Australia Bank (ASX:NAB) up 0.1% to $31.50
Westpac (ASX:WBC) down 0.8% to $31.57


Other banks financials and industrials

AMP (ASX:AMP) down 0.7% to $5.30
Bank of Queensland (ASX:BOQ) down 0.2% to $11.70
Bendigo and Adelaide Bank (ASX:BEN) down 0.7% to $12.22
Macquarie Group (ASX:MQG) down 2.1% to $56.41
Suncorp (ASX:SUN) down 0.8% to $13.51
Telstra (ASX:TLS) down 0.3% to $5.72


Retailers

JB Hi-FI (ASX:JBH) down 0.9% to $15.20
Wesfarmers (ASX:WES) down 0.4% to $40.37
Woolworths (ASX:WOW) flat at $29.20

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