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Author, Andrew Sheldon

Global Mining Investing is a reference eBook to teach investors how to think and act as investors with a underlying theme of managing risk. The book touches on a huge amount of content which heavily relies on knowledge that can only be obtained through experience...The text was engaging, as I knew the valuable outcome was to be a better thinker and investor.

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Click here for the Book Review Visit Mining Stocks

Download Table of Contents and Foreword

Tuesday, August 21, 2007

Tentative trading in MRX - Aug'07

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Hi all, I am trading aggressively just two stocks at the moment and keeping a sizeable amount of cash on the side. Why? Because I believe this market is going lower. I believe there is a lot more bad news to come, and fears might escalate if the credit rating agencies are called into question.
Most of the stock I am retaining is Matrix Metals (MRX.ASX), plus an explorer Alloy Resources (AYR.ASX). The reason being is that both companies were oversold and are expecting drilling results. Matrix is a low cost copper producer aggressively expanding output. It is ripe for a takeover by Xstrata if they find anything big. They recently entered production at are probably trading at a PER of 3x, and they have alot of upside besides. More importantly the chart is signalling to me a technical breakout.

The other stock Alloy Resources (AYR) is drilling a copper-gold target along the same geological trend as Pan Australian Resources (PNA.ASX). For this reason I am holding out for some excellent results which might just be the basis for a company-making mine. PNA have had some impressive results on this trend, so I'm hopeful for AYR despite the long development lead time.

- Andrew Sheldon www.sheldonthinks.com

Monday, August 13, 2007

Are you ready for the forthcoming gold boom?

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The global resources sector has had a bonanza period over the last 3 years, though the bulk of the fortunes made to date have been in the bulk materials (bauxite, manganese & iron ore), energy (uranium, oil, conventional gas, coal seam methane) and base metals (Copper, nickel, zinc, lead) sectors. The lagged has been the gold industry – particularly in the major commodity producing countries like Australia, South Africa and Canada.
Metal price Comparison
Looking at the returns of base metals, copper price was $0.80/lb in 1999 and now its around $US3.50/lb. Copper producers have never had it so good. Now consider the situation in the Australian gold mining sector. Despite a 70% increase in the gold price from $390 to $665 an ounce in the last 3 years in US terms, the 22% rise in the $AUD over the same period meant that the gold price in Australian dollar terms increased by just 40% from $555 to $775 an ounce.

Japanese gold producers have done far better given that the 7% depreciation in the yen over the same period means gold prices over the same period increased by 82%.
The fortunes of the gold industry
Currently the bulk of Australia's gold producers are facing difficult operating conditions, whether its staff or material shortages, rapid increases in mining costs or poor grade reconciliation. While their base metals peers have been raking in the profits, several gold miners have gone into administration, including BMA Gold, Croesus Mining and Gleneagle Gold. Others such as Batavia Mining and A1 Minerals have been forced to delay their projects rather than undermine the viability of their projects.
Consider that Barrick Gold's cash production costs rose 38% between 2005 to 2006 for its Australian and Papua New Guinean operations, whilst Newmont's costs rose 18% in Australia and NZ over a later 1 year period. More broadly, global gold cash costs have nearly doubled since 2001. Some producers have faired better than others, eg. Barrick has hedged much of its exposure to the Australian dollar at lower rates.
Gold outlook
Whilst the global economy becomes de-leveraged by falling asset prices and rising inflation, the gold sector is likely to benefit on both fronts because:
1. The value of gold to the total size of the global economy still has gold under-priced. Gold as we have already indicated has not risen like other commodities
2. Divestiture of other assets leads people into the safety of bonds, but gold for high returns. But gold is a very small market so expect volatility and significant price advances .

The paradox is that gold miners will benefit from the next leg of the gold boom for several reasons:
1. Gold was the laggard in the 2nd stage of the commodities cycle - but not this time - it will rise greatly whilst other metals fall off.
2. Gold (and other metals) will benefit from a weaker $AUD

Gold investment strategy

There is no question that gold miners offer superior exposure to rising gold prices than gold metal (coins or exchange traded funds), but you need to be selective. Consider the following:
1. Location: Seek gold miners located in non-resource based economies, or economies in which mining represents a small portion of the global economy (China, USA), as these countries will not experience stronger currencies as gold prices increase. There are a number of miners in Africa (Resolute Gold, Sub-Sahara Resources), Thailand (Kingsgate Cons), as well as explorers. Eg. Azumah Res, Castle Minerals in Africa.
2. Gold resources: Look for gold stocks that have a large inventory of gold resources because they offer a longer mine life. We are looking for a life of 15+ years. We are more impressed by miners that have large gold inventories because they are more likely to be taken over.
3. Low cost production: Look for miners with lower cash production costs, whether because they have higher grades than normal, significant credits for associated metals, or very favourable ore characteristics, eg. Large, tabular, shallow ore bodies suitable to cheap bulk extraction.
4. Low capital costs: Look for miners with low capital costs, whether because it’s a simple gravity separation process only, a cheap heap leach operation, or they have conscripted a third party plant for toll treatment.
5. No hedging: We don’t want to see gold price hedging, or if they have hedging, it should be for a small proportion of production or will be paid out soon. We should reflect favourably on producers that hedged their currency at lower rates, but any fresh currency hedging now would be a negative factor. We want maximum exposure to the gold price increase.
6. Scalability: We should look favourably upon gold producers who have the capacity to scale up production from existing plant through minor modifications or resource upside.
7. Discounts: We would prefer stocks trading at a discount to market parities. Particularly projects which have low gold grades, so they have the greatest upside from higher prices.
8. Options: We are particularly interested in stocks that have low-priced options because they offer low-cost entry into promising stocks.

A lot of Australian companies are looking outside Australia to find larger ore bodies, as well as to reduce mine costs. Sino Gold's open pit mining costs are one-third the Australian costs, while the salary of a skilled mining operator is about one-fifth of the equivalent Australian labour. This shift in exploration overseas and lost prospectivity has taken its toll on Australian gold production, since it has fallen to its lowest level in 15 years, whilst China had overtaken Australia as the world's third-largest producer. But the other reason gold exploration has floundered is because gold prices have lagged, so more money has gone into uranium, iron ore and base metals. The number of new IPOs for these metals has way surpassed new gold floats. But the major miners still like Australia and see it as part of a global portfolio with lower political risks helping to offset the higher costs.

- Andrew Sheldon www.sheldonthinks.com

Wednesday, August 08, 2007

Universal Resources (ASX.URL)

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In the process of doing some research for the copper stocks listed in my previous posting, I came across a comparison of copper stocks in a Exco Resources presentation. It is a table which computes the value of insitu (in-ground) copper resources in terms of stock market capitalisation (ie. $A market cap /tonnes of insitu copper). You might wonder why the discrepancy in values. For the most part its because of:
1. Stage of development - the stocks ranking over $1000 are in production, the stocks in the $300-500 range are still developing resources. They have not prepared a feasibility study so the project sponsor can't give you an accurate picture of realistic cashflows from the mine scheduling for ore block extraction. Without that info there is greater risk attached to the project.
2. Recoverable grade - Its apparent that most of the projects have a recoverable grade of around 1% copper. The exception is URL - with a grade of 0.73% Cu. That has to impact on mine profitability...but there are other issues - the big ones being economies of scale, strategic objectives and our forward-looking price assumptions.


So why is URL so low?
Before we get excited there are several things we need to know about URL. The company controls alot of copper - 933,000 tonnes of it, worth billions. These resources are spread among 10 pits, so there is even more upside in exploration potential around the mine planned pit margins and even underground potential below the pits.
The marginal grade of the ore has a big impact on mine value. The forecast cash cost of the mine is $1.10/lb compared to likely $0.60-0.80/lb for the other projects, which have higher grades and less onerous capital expenditure demands. URL need to raise $340mil compared to their much lower market capitalisation of just $25mil. Consider that if we assume an unreasonably high (current) copper price of $3.50/lb, the project has a NPV of $960mil. But if we assume a capital cost of $2/lb, the project has a NPV of $140mil. Thats a huge difference.
But consider the strategic value of a centrally located copper processing facility in one of the most important copper provinces in the world. Xstrata has recognised the potential of these resources since it has contracted to earn a 51% stake in the underground potential (below 200m depth) by spending $15mil. Really $15mil figures means nothing since they can withdrawal after a lesser commitment. In fact the company has screwed up because Xstrata - one of the world's largest copper miners, gets a strategic stake in a huge mine for little outlay, and effectively locks out the competition from dealing with URL. Companies like Teck Corp of Canada. Clearly these copper deposits and and any centrally-located processing plant associated with these deposits has a strategic value. The value its greatest for Xstrata since it already has significant capital invested at Mt Isa Mines (having taken over MIM several years ago). Clearly the deal is sweeter for Xstrata if it can:
1. Find higher grade copper ore through exploration
2. Take over other explorers with higher grade ores in the area

The URL clearly did not see the strategic importance of this project. I would argue that they should have got a firmer commitment on capital expenditures for the testing of the UG potential (the SEET project), or raised more capital to test the UG potential themselves...if only with a few deep holes.
Going forward, URL is a company with a $25mil market capitalisation (292mil shares at 8.8c) and $7mil in cash. Aside from some uranium exposure, the attributed value of their project is $18mil. That seems very low considering the exploration potential of its ground, the outlook for copper prices and established resources. For this reason I bought a stake, in the hope that:
1. Xstrata will make a takeover offer for URL after it has:
a) Proven that higher grade ore exists below the existing pits
b) Found higher grade ores in the area through its only exploration efforts
c) Taken over other companies in the area, or negotiated control over additional high grade ore

Any of these steps would justify Xstrata taking over URL. Given the lack of competition that URL management have effectively excluded, its likely that Xstrata will be able to purchase the company for about double its current value.
So this is a hard stock to pick because Xstrata need not be in a hurry...they have until 2010 to expend $15mil to earn their 51% stake. But in case you are thinking that copper prices might sink to $0.8/lb like they did in the late 1990s, think again...we are in the midst of a commodities boom driven by China, India and other countries. We are not likely to see copper prices under $2.00/lb for some time, and I think $2.50-2.80/lb is a more likely average price. So I see the URL project NPV around $300-500mil. But I dont expect shareholders to see much of that. Xstrata will play hard ball, just as they did over the Windimurra Vanadium project. It seems Xstrata is very good at extracting value from small company managers that under-value the value of their assets. The problem is a lack of commercial/strategic skills in our small mining companies. Take a look at the URL and you see geologists (scientists) and mining engineers (operations). You dont see commericial/strategic thinkers. Thats a problem...because thats a huge source of revenue/value.

I'm sure you are familar with the notion of Australia 'selling the farm' at extraordinarily low prices. Well its not just us, its foreigners as well, as its a global phenomena. Its a lack of capacity for conceptual thinking and the general knowledge required to support it.
Anyway I bought some URL because it offers value from:
1. Further exploration success - by URL or Xstrata
2. Prospect of a URL or neighbour takeover (Exco Res, Copperco)
3. Xstrata (SEET project) drilling success

Haven't decided if it will be a short term trade or a longer term investment. Lets see how the drilling results unfold. At 8.8c its unclear to me whether they will fall to 8c support or even lower.


- Andrew Sheldon www.sheldonthinks.com

Tuesday, August 07, 2007

Copper stocks - Aug'07

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You could be forgiven for thinking that the world is about to end, that the continents are about to slide into the sea...given the recent equity market slide. This is not totally unwarranted that stocks took a slide over recent weaks, but the rationale seems somewhat dubious. Personally I think its more about profit-taking than fundamentals. Or is the market worried about inflation? Well in any respect there seems little justification for the recent slide in small copper mining stocks in recent weeks - an average fall of 30% according to the Sydney Morning Herald. Gold stocks didnt fair as badly, perhaps suggesting that gold is deemed to have more upside.

Well we should be accustomed to mining stocks falling with the general malaise of the stock market, and we are accustomed to the spec-end of the market being punished more than the blue chips, despite some very favourable fundamentals. As www.basemetals.com/Copper has suggested copper prices have risen 22% this year to $US8,0000/tonne on the basis of tight stockpiles. London Metals Exchange (LME) stockpiles have fallen 42% this year, and more tightness is expected. Interestingly copper prices are still short of their previous high of $4.04/pound reachd in May 2006, but the market seems to be pricing in a fall based on the calamity in th sub-prime market. Might equity investors be seeing a fall before the metals market?

As we can see from the attached charts, copper stocks have fallen on average 30% to their support levels on the basis of a 4.8% fall in copper prices in recent days related to the sub-prime loan issue. Despite the uncertainties in the stock market, the downgrading of copper stocks appears excessive, and the attached stocks offer some good buying opportunities. My apologies this is not a very clear chart - the stocks are:
1. Matrix Metals (ASX.MRX) -at 13.5c
2. Exco Resources (ASX.EXS) - at 30c
3. Copperco Ltd (ASX.CUO) - at 87c
4. Redbank Mines (ASX.RBM) at 12c
Some pundits are expecting the Federal Reserve Board to respond to the weakness in the US housing market with an interest rate cut. I however dont expect as much....I think the Fed will hold the current line. I dont believe the Fed would want to signal easier monetary policy at times of higher commodity prices and tight labour markets, even if 'junk loan' end of the property market and a few funs managers and investors are feeling the pinch. There has been no collapse in earnings, and no significant reduction in credit outstanding....so there remains alot of money sloshing around the global economy, so expect markets to resume their climb. I am expecting copper prices to recover to their previous high of $4.04/pound reachd in May 2006.
It can be said that I have a suspicious nature, but when you consider that one of the reasons that copper prices are strong (supply is tight) is that workers at several very large mines in Mexico and Chile are on strike. That being the case, you'd have to wonder whether price manipulation is going on. Given that the market is driven by such short term factors....it would seem to 'profitable' for several senior mining executives at the major producers to conspire to hold off on pay rises in conditions of very high inflation in the mining districts to push metal prices higher. Why would they do that? Well - because its easy and profitable. Consider what it takes:
1. Several senior mining executives at a metals conference to get together for dinner and talk about metal markets....understand producers are largely price takers....with many producers and few refiners.
2. Only a few executives need to conspire to hold the status quo on wages, to cause strikes, to prompt a temporary supply shortage
3. After copper prices have risen by a significant degree, producers lock in the higher prices in the derivatives market
4. The executives then seek a deal with the miners which results in a concessional increase in wages, and they commence the resumed delivery of copper concentrates into the market by selling into those derivative (futures, options) contractual commitments

This is not an outlandish proposition.....its a small community among the major mining companies. They are constantly talking about prices given the dominance of these players and the benefits of holding the line. They are not really competitors since on prices but volumes. And when there are tight volumes, it makes sense to hold back some for higher prices. I am reminded of Amcor, a paper producer that was involved in price fixing years ago. I think that was a rare occasion that a groups of executives were discovered to be engaging in price fixing. I think its more prevalent than we know. Makes you wonder whether Osama Bin Laden is playing the futures market from some bunker as he blows up US Iraqis?
The only way we can determine if this is happening is:
1. Correlating price movements with strikes and derivative contractual commitments
2. Correlate spot and derivative copper prices to see if the derivatives market is questioning the soundness of copper prices

Disclosure: The author holds Metrix Metal stock.
- Andrew Sheldon www.sheldonthinks.com

Sunday, August 05, 2007

Gold stocks - Aug 2007

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Gold stocks are one of the most compelling sectors of the equities market for several reasons.
1. Inflation is emerging
2. Gold is technically close to a breakout. You might be thinking that gold has already risen a great deal, but it has not kept up with the other commodities. See my posting on my Commodities blog.
The next question then is how do we position ourselves for this phenomena. We already have the major stocks trading at huge multiples, so its worth looking at some of the smaller stocks.
Listed on the Australian Stock Exchange (ASX) we have:
1. Bendigo Mining: This company has recently fallen off considerably after it revised its gold resource estimation model that culminated in a significant downgrading of its resource inventory. Since the downgrade the company has found new ore resources in new vein systems.
2. Resolute Gold:
Resolute has an operating gold mine in Ghana, Africa and is developing several others.

Stay tuned for more info.
- Andrew Sheldon www.sheldonthinks.com

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List of ASX Listed Mining Stocks

3D RESOURCES LTDDDDMetalswww.3dresources.com.au/
A-CAP RESOURCES LTDACBMetalswww.acap.com.au
A1 MINERALS LTDAAMMetalsAuEmergingWAwww.a1minerals.com.au/
ABM RESOURCES NLABUMetalswww.abmresources.com.au
ABRA MINING LTDAIIMetalsAuEmergingAfricawww.abramining.com.au/
ACCENT RESOURCES NLACSMetalswww.accentresources.com.au/
ACCLAIM EXPLORATION NLAEXMetalsNiEmergingWAwww.acclaimexploration.com.au/
ACONCAGUA RESOURCES LTDANUMetalswww.aconcagua.com.au/
ACTIVEX LIMITEDAIV??www.activex.com.au/
ADAMUS RESOURCES LTDADUMetalsAuProducerAfricawww.adamusresources.com.au/
ADELAIDE BRIGHTON LIMITEDABCBuildingCementProducerSAwww.adbri.com.au/
ADELAIDE RESOURCES LTDADNMetalsSAwww.adelaideresources.com.au/
ADITYA BIRLA MINERALS LIMITEDABYEnergyCoalExplorerAustraliawww.adityabirlaminerals.com.au/
ADMIRALTY RESOURCES NL.ADYMetalsAlkalisEmergingChilewww.ady.com.au/
ADVANCED MAGNESIUM LTDANMMetalsMgwww.am-technologies.com.au
AIM RESOURCES LTDAIMMetalsCuEmergingAfricawww.aimresources.com.au/
ALBIDON LTDALBMetalsNiEmergingZambiawww.albidon.com
ALKANE RESOURCES LTDALKMetalsAu, Zr, rare earthsEmergingNSWwww.alkane.com.au/
ALLEGIANCE MINING NLAGMMetalsNiEmergingTAS???
ALLIANCE RESOURCES LTDAGSMetalsAuwww.allianceresources.com.au/
ALLIED GOLD LTDALDMetalsAuwww.alliedgold.com.au/
ALLOY RESOURCES LTDAYRMetalsAu, CuExplorerLaoswww.alloyres.com/
ALLSTATE EXPLORATIONS NLALXMetalswww.beaconsfieldgold.com.au
ALTERA RESOURCES LTDAEAMetalsCu, Pb, ZnExplorerWAwww.alteraresources.com.au/
ALUMINA LTDAWCMetalsAlProducerWorldwidewww.aluminaltd.com/
AMCOR LIMITEDAMCPackagingPlastic. PaperProducerWorldwidewww.amcor.com
AMEX RESOURCES LIMITEDAXZwww.amex.net.au/
AMMTEC LIMITEDAECServicesLabOperatingAustraliawww.ammtec.com.au
AMPELLA MINING LTDAMXMetalsZn, AuEmergingGhanawww.ampella.com.au/
ANCHOR RESOURCES LIMITEDAHRwww.anchorresources.com/
ANDEAN RESOURCES LTDANDMetalsAuEmergingArgentinawww.andean.com.au/
ANEKA TAMBANG (PERSERO) PTATMMetalsAuProducerIndonesia
ANGLO AUSTRALIAN RESOURCES NLAARwww.anglo.com.au/
ANGLOGOLD ASHANTI LTDAGGMetalsAuProducerWorldwidewww.anglogold.com/
ANVIL MINING LTDAVMMetalsCu, AgProducerAfricawww.anvilmining.com
APEX MINERALS NLAXMMetalsAuEmergingChinawww.apexminerals.com/
APOLLO MINERALS LTDAONMetalsU, Fe, Cu, Pb, ZnExplorerAustraliawww.apollominerals.com.au/
AQUARIUS PLATINUM LTDAQPMetalsPt, PdProducerAfricawww.aquariusplatinum.com
ARAGON RESOURCESAAGMetalsAu, U, NiExplorerWAaragonresources.com.au/
ARAFURA RESOURCES LTDARUMetalsU, REEs, PExplorerWAwww.arafuraresources.com.au/
ARCHER EXPLORATION LTDAXEMetalsU, Au, CuExplorerSAwww.archerexploration.com.au
ARGENT MINERALS LTDARDMetalsAg, Pb, ZnExplorerNSWwww.argentminerals.com.au/
ARGO EXPLORATION LTDAXTMetalsAu, Cu, UExplorerSAwww.argoexploration.com.au/
ARGONAUT RESOURCES NLAREMetalsAu, Cu, Ag, ZnExplorerLaos, SAwww.argonautresources.com/
ARGOSY MINERALS INCAGYMetalsNi, Pb, Cu, Zn, PtEmergingBurundi, Canadawww.argosyminerals.com
ARTEMIS RESOURCES LTDARVMetalsAuExplorerWAwww.artemisresources.com.au/
ASHBURTON MINERALS LTDATNMetalsAuEmergingBrazilwww.ashburton-minerals.com.au/
ASTRO DIAMOND MINES N.L.AROGemstonesDiamondsExplorerWAwww.aro.com.au/
ASTRON LTDATRMetalsZrProcessingChinaNA
ATHENA RESOURCES LTDAHNMetalsAuExplorerWAwww.athenaresources.com.au
ATLANTIC GOLD NLATVMetalsAu, diamondsExplorerCanadawww.atlanticgold.com.au/
ATLAS IRON LTDAGOMetalsFeEmergingAustraliawww.atlasiron.com.au/
ATTICUS RESOURCES LTDACZMetalsAuExplorerWAwww.atticusres.com.au
AUDAX RESOURCES LTDADXMetalsAu, Zn, Cu, PbExplorerWAwww.audax.com.au/
AUGUR RESOURCES LTDAUKMetalsCu, Au, Ni, CoExplorerNSWwww.augur.com.au
AUGUSTUS MINERALS LTDAUJMetalsAuExplorerWA, East Europewww.augustusminerals.com.au
AURIUM RESOURCES LTDAGUMetalsU, AuExplorerWAwww.aurium.com.au/
AURORA MINERALS LTDARMMetalsAuProducerAustraliawww.auroraminerals.com/
AUROX RESOURCES LTDAXOMetalsFe, VEmergingWAwww.aurox.com.au
AUSDRILL LIMITEDASLServicesDrillingOperatingWorldwidewww.ausdrill.com.au/
AUSQUEST LTDAQDMetalsFe, NiExplorerWAwww.ausquest.com.au/
AUSSIE Q RESOURCES LTDAQRMetalsMo, CuExplorerQldwww.aussieqresources.com/
AUSTINDO RESOURCES CORP. NLARXMetalsAuProducerIndonesiawww.austindoresources.com.au/
AUSTPAC RESOURCES NLAPGMetalsTechnology, TiExplorerAustraliawww.austpacresources.com
AUSTRAL AFRICA RESOURCES LTDAAFMetalsUExplorerNTwww.newworldalloys.com
AUSTRAL GOLD LTDAGDMetalsAu, Pb, Zn, diamondsExplorerChile, WAwww.australgold.com.au/
AUSTRALASIA GOLD LTDAAOMetalsAuExplorerSA, NSW, NZwww.australasiagold.com.au/
AUSTRALASIAN RESOURCES LTDARHMetalsFeEmergingAustraliawww.austresources.com.au/
AUSTRALIA ORIENTAL MINERALS NLAOMMetalsAu, Sn, Pb, ZnExplorerNSWwww.aominerals.com.au/
AUSTRALIAN GOLD INVESTMENTS LTDAGVMetalsAuExplorerWAwww.agil.com.au
AUSTRALIAN MINES LTDAUZMetalsNi, AuMothballedWAwww.australianmines.com.au
AUSTRALIAN MOTOR FINANCE GROUP LTDAGQMetalsPt, Ni, PdExplorerRSAwww.bushveld-platinum.com/
AUSTRALIAN ZIRCON NLAZCMetalsZrProducerVictoriawww.auzircon.com.au
AUSTRALIS MINING CORPORATION LIMITEDAUV??
AUZEX RESOURCES LTDAZXMetalsMo, W, SnExplorerNSW, NZ, Qldwww.auzex.com
AVALON MINERALS LTDAVIMetalsCu, Pb, ZnExplorerWAwww.avalonminerals.com.au
AVANCO RESOURCES LTDAVBMetalsCu, AuExplorerBrazilwww.avancoresources.com/
AVIVA CORPORATION LIMITEDAVAEnergyCoalEmergingBotswanawww.avivacorp.com.au
AVOCA RESOURCES LTDAVOMetalsAuProducerWAwww.avocaresources.com.au/
AVONLEA MINERALS LTDAVZMetalsAu, Pb, Cu, ZnExplorerQldwww.avonleaminerals.com/
AXG MINING LTDAXCMetalsUExplorerWAwww.axgmining.com.au/
AXIOM MINING LTDAVQMetalsAu, Cu, Zn, PbExplorerLaos, Vietnam, Qldwww.axiom-mining.com/
AZUMAH RESOURCES LTDAZMMetalsAuEmergingAfricawww.azumahresources.com.au/
AZURE MINERALS LTDAZSMetalsAu, Mo, CuEmergingMexicowww.azureminerals.com.au/
BALKANS GOLD LTDBNLMetalsAuEmergingEast Europewww.balkansgold.com.au/
BANNERMAN RESOURCES LIMITEDBMNEnergyUEmergingNamibia, Botswanawww.bannermanresources.com.au
BARRA RESOURCES LTDBARMetalsCuEmergingSAwww.barraresources.com.au/
BASS METALS LTDBSMMetalsAu, Pb, ZnExplorerTAS, Qldwww.bassmetals.com.au/
BASSARI RESOURCES LTDBSRMetalsAuExplorerSenegalwww.bassari.com.au
BATAVIA MINING LTDBTVMetalsAuEmergingNTwww.bataviamining.com.au/
BATHURST RESOURCES LTDBTUMetalsNi, Au, Pb, Cu, ZnExplorerWAwww.bathurstresources.com.au
BAUXITE RESOURCES LTDBAUMetalsAlExplorerWAwww.bauxiteresources.com.au
BC IRON LTDBCIMetalsFeEmergingWAwww.bciron.com.au/
BEACON MINERALS LTDBCNMetalsAu, Cu, Mo, NiExplorerWA, Qldwww.beaconminerals.com/
BEACONSFIELD GOLD NLBCDMetalsAuProducerTASwww.beaconsfieldgold.com.au/
BEADELL RESOURCES LTDBDRMetalsAuExplorerAustralia, Brazilwww.beadellresources.com.au/
BELLAMEL MINING LTDBMMMetalsAuEmergingWAwww.bellamelmining.com/
BELLEVUE RESOURCES LIMITEDBVEDiversifiedETFOperatingAustraliawww.bellevueresources.com.au
BEMAX RESOURCES LTDBMXMetalsSandsProducerVictoriawww.bemax.com.au/
BENDIGO MINING LTDBDGMetalsAuEmergingVictoriawww.bmnl.com.au/
BHP BILLITON LTDBHPMetalsDiversifiedProducerWorldwidewww.bhpbilliton.com
BLACK RANGE MINERALS LTDBLRMetalsU, Cu, ExplorerUSA, Australiawww.blackrangeminerals.com/
BLACKHAM RESOURCES LTDBLKMetalsAuExplorerWAwww.blackhamresources.com.au
BLINA DIAMONDS NLBDIGemstonesDiamondsEmergingWAwww.blinadiamonds.com.au
BLUESCOPE STEEL LIMITEDBSLBuildingSteelProducerWorldwidewww.bluescopesteel.com/
BMA GOLD LTDBMOMetalsAuEmergingQldwww.bmagold.com.au/
BOLNISI GOLDBSGMetalswww.bolnisigold.com.au/
BONAPARTE DIAMOND MINES NLBONGemstonesDiamondsEmergingAfricawww.bonaparte.com.au/
BONDI MINING LTDBOMMetalsCu, Au, NiExplorerNSWwww.bondimining.com.au/
BORAL LIMITED.BLDBuildingCementProducerAustraliawww.boral.com.au/
BOTSWANA METALS LTDBMLMetalsNi, AuExplorerBotswanawww.botswanametals.com.au/
BOUGAINVILLE COPPER LTDBOCMetalsCu, AuMothballedPNGwww.bougainvillecopper.com.pg/
BOULDER STEEL LTDBGDMetalsCr, steelOperatingWorldwidewww.bouldersteel.com.au
BREAKAWAY RESOURCES LTDBRWMetalsAu, Ni, CuExplorer??www.breakawayresources.com.au/
BRICKWORKS LIMITEDBKWBuildingBricksProducerAustraliawww.brickworks.com.au/
BROCKMAN RESOURCES LTDBRMMetalsNi, CuExplorerWAwww.brockman.com.au
BRUMBY RESOURCES LTDBMYMetalsAu, Pb, Zn, CuExplorerWAwww.brumbyresources.com.au/
BUKA GOLD LTDBKGMetalsAuEmergingGympiewww.bukagold.com.au/
BUREY GOLD LTDBYRMetalsAu, UExplorerFiji, Africawww.bureygold.com/
BUXTON RESOURCES LTDBUXMetalsAuExplorerWAwww.buxtonresources.com.au
CAPE LAMBERT IRON ORE LTDCFEMetalsFeEmergingAustraliawww.capelam.com.au
CAPITAL MINING LTDCMYMetalsDiversifiedExplorerAustraliawww.capitalmining.com.au/
CAPRAL LTDCAAMetalsAlProducerVictoriawww.capral.com.au
CARBINE RESOURCES LTDCRBMetalsAuRe-emergentWAwww.carbineresources.com.au/
CARNAVALE RESOURCES LTDCAVMetalsCu, AuExplorerBrazilwww.carnavaleresources.de/
CARPENTARIA EXPLORATION LTDCAPMetalsCu, AuExplorerQld, NSWwww.carpentariaex.com.au
CARRICK GOLD LTDCRKMetalsAuEmergingwww.carrickgold.com/
CASTLE MINERALS LTDCDTMetalsAu, CuExplorerAfricawww.castleminerals.com.au/
CASTLEMAINE GOLDFIELDS LTDCGTMetalsAuExplorerVictoriawww.axd.com.au
CATALYST METALS LTDCYLMetalsCu, Au, UExplorerWAwww.catalystmetals.com.au/
CAZALY RESOURCES LTDCAZMetalsFe, AuExplorerWAwww.cazalyresources.com.au/
CBH RESOURCES LTDCBHMetalsCu, Pb, Zn, AuProducerAustraliawww.cbhresources.com.au/
CENTAMIN EGYPT LTDCNTMetalsAuProducerEgyptwww.centamin.com/
CENTAURUS RESOURCES LTDCURMetalsAu, Cu, Pb, ZnExplorerNSWwww.centaurus.com.au/
CENTRAL ASIA RESOURCES LTD.CVRMetalsAu, CuEmergingCentral Asiawww.centralasia.com.au/
CENTRAL WEST GOLD NLCWGMetalsAu, Ag, Cu, Pb, ZnExplorerNSW??
CENTREX METALS LTDCXMMetalsFeExplorerSAwww.centrexmetals.com.au/
CGA MINING LTDCGXMetalsAu, CuEmergingPhilippineswww.cgamining.com/
CHALICE GOLD MINES LTDCHNMetalsAuExplorerWAwww.chalicegold.com/
CHAMELEON MINING NLCHMMetals????Australia??
CHESSER RESOURCES LTDCHZMetalsU, Cu, Au, NiExplorerAustraliawww.chesserresources.com.au/
CHINA STEEL AUSTRALIA LIMITEDCNHBuildingSteelOperatingChinawww.cnsteel.com.au
CHINA WEST INTERNATIONAL HOLDINGS LIMITEDCWHBuildingVariousOperatingAsiawww.cwestinternational.com/
CHINA YUNNAN COPPER AUSTRALIA LTDCYUMetalsCu, Au, UExplorerQldwww.cycal.com.au
CHONGHERR INVESTMENTS LTDCDHBuildingStoneProducerQldwww.chongherr.com.au/
CHROME CORPORATION LTDCCIMetalsCr, steelProducerRSAwww.chromecorp.com
CITIGOLD CORPORATION LTDCTOMetalsAuProducerQldwww.citigold.com/
CITROFRESH INTERNATIONAL LIMITEDCTFTechnologyFoodOperatingWorldwidewww.citrofresh.com
CLANCY EXPLORATION LTDCLYMetalsCu, AuExplorerNSWwww.clancyexploration.com
CLONCURRY METALS LTDCLUMetalsAu, Pb, Cu, ZnExplorerQldwww.cloncurrymetals.com.au/
CLUFF RESOURCES PACIFIC NLCFRGemstonesSn, diamond, sapphiresProducingQld, NSWwww.cluff.com.au/
COAL OF AFRICA LIMITEDCZAEnergy, alloysCoal, Ni-alloysEmergingRSAwww.coalofafrica.com/
COBAR CONSOLIDATED RESOURCES LTDCCUMetalsAu, Zn, Pb, Ag, CuExplorerCobar, NSWwww.ccrltd.com.au/
COEUR D'ALENE MINES CORPORATION.CXC??www.coeur.com/
COLONIAL RESOURCES LTDCLNMetalsAuExplorerWAwww.colonialresources.com.au/
COLORPAK LIMITEDCKLPackagingVariousOperatingAustraliawww.colorpak.com.au
COMET RESOURCES LTDCRLMetalsCu, Au, FeExplorerNSW, WAwww.cometres.com.au
COMPASS RESOURCES NLCMRMetalsU, Pb, Zn, Ag, AuEmergingNTwww.compassnl.com.au
CONQUEST MINING LTDCQTMetalsCu, Au, AgExplorerQldwww.conquestmining.com.au/
CONSOLIDATED GLOBAL INVESTMENTS LTDCGIMetalsAuExplorerWA???
CONSOLIDATED RUTILE LTDCRTMetalsSandsProducerAustraliawww.consrutile.com.au
CONSOLIDATED TIN MINES LTDCSDMetalsTinExplorerQldwww.consolidatedtinmines.com.au/
CONTACT URANIUM LIMITEDCTSEnergyUraniumEmergingPeru, Kyrgyzstanwww.contactresources.com.au
CONTINENTAL CAPITAL LTDCNFMetalsDiversifiedHolding CoWA, Philippineswww.continentalgoldfields.com.au/
CONVERGENT MINERALS LTDCVGMetalsAuExplorerQldwww.convergentminerals.com.au/
COPPER RANGE LTDCRJMetalsAu, Cu, Pb, ZnExplorerSAwww.copperrange.com.au/
COPPER STRIKE LTDCSEMetalsCuEmergingQldwww.copperstrike.com.au/
COPPERCO LTDCUOMetalsCuEmergingQldwww.copperco.com.au/
COPPERMOLY LTDCOYMetalsAu, Mo, CuEmergingPNGwww.coppermoly.com.au/
CORTONA RESOURCES LTDCRCMetalsAuExplorerWAwww.cortonaresources.com.au/
COUGAR METALS NLCGMMetalsAu, NiExplorerBrazil, WAwww.cougarmetals.com.au/
COZIRON RESOURCES LTDCZRMetalsCoal, Pb, Zn, FeExplorerIndonesiawww.coziron.com/
CPI GROUP LIMITEDCPIPackagingPaperOperatingAustraliawww.cpigroup.com.au
CRESCENT GOLD LTDCREMetalsAuProducerWAwww.crescentgold.com/
CUDECO LTDCDUMetalsCuEmergingQldwww.cudeco.com.au/
CULLEN RESOURCES LTDCULMetalsAu, Cu, NiExplorerWAwww.cullenresources.com.au/
D'AGUILAR GOLD LTDDGRMetalsAuEmergingAustraliawww.daguilar.com.au/
DART MINING NLDTMMetalsAu, Pb, ZnExplorerVictoriawww.dartmining.com.au/
DE GREY MINING LTDDEGMetalsPb, Zn, CuExplorerWAwww.degreymining.com.au/
DIAMONEX LIMITEDDONGemstonesDiamondsEmergingBotswanawww.diamonex.com.au
DIATREME RESOURCES LIMITEDDRXMineral SandsBase Metals, AuExplorerAustraliawww.diatreme.com.au/
DIORO EXPLORATION NLDIOMetalsAuProducerWAwww.dioro.com.au/
DISCOVERY METALS LTDDMLMetalsAu, NiEmergingBotswana, WAwww.discoverymetals.com.au
DMC MINING LTDDMMMetalsPb, Zn, CuExplorerNSWwww.dmcmining.com.au
DOMINION MINING LTDDOMMetalsAu, CuProducerWorldwidewww.dml.com.au/
DRAGON MINING LTDDRAMetalsAuProducerSwedenwww.dragon-mining.com.au/
DRAGON MOUNTAIN GOLD LTDDMGMetalsAuwww.dragonmountain.com.au/
DRAKE RESOURCES LTDDRKMetalsAu, Ag, CuExplorerNSWwww.drakeresources.com.au/
DRUMMOND GOLD LTDDGOMetalsAuExplorerQldwww.drummondgold.com.au/
DWYKA RESOURCES LIMITEDDWYGemstonesDiamondsProducerSwazilandwww.dwykadiamonds.com
DYNASTY METALS AUSTRALIA LIMITEDDMAEnergyCSM, UExplorerBotswana, WAwww.dynastymetals.com.au/
DYNO NOBEL LIMITEDDXLBuildingExplosivesProducerWorldwidewww.dynonobel.com
EAGLE EYE METALS LTDEYEMetalsNi, Au, Pb, ZnExplorerWAwww.eagleeyemetals.com/
EAGLE NICKEL LTDENLMetals, EnergyNi, Mo, UExplorerWAwww.empiregoldcorp.com/
EAST COAST MINERALS NLECMMetalsNiExplorerWA??
EASTERN CORPORATION LIMITEDECUEnergyCoal, CSMExplorerQldwww.easterncorp.com.au
ECHO RESOURCES LTDEARMetalsAu, Ni, CuExplorerQld, WAwww.echoresources.com.au/
ELDORE MINING CORPORATION LTDEDMMetalsAuExplorerFijiwww.eldore.com/
ELECKRA MINES LTDEKMMetalsAu, UExplorerWAwww.electramines.com.au/
ELEMENTAL MINERALS LTDELMMetalsAu, Pb, Zn, CuExplorerWAwww.elementalminerals.com.au/
ELLENDALE RESOURCES NLELLEnergy, GemstonesU, DiamondsExplorerWAwww.ellendaleresources.com/
EMERGENT RESOURCES LTDEMGMetals, EnergyU, Au, Cu, Zn, PtExplorerSA, NSWwww.emergentresources.com.au
EMMERSON RESOURCES LTDERMMetalsCu, AuExplorerNTwww.emmersonresources.com.au
EMPIRE RESOURCES LTDERLMetalsU, Cu, AuExplorerSA, WAwww.resourcesempire.com.au/
EMU NICKEL NLEMUMetalsNiExplorerWAwww.emunickel.com.au
ENVIROGOLD LTDEVGMetalsAu, Pb, Cu, ZnProducerDominican Rep, Peru, Chinawww.envirogold.com
EQUIGOLD NLEQIMetalsAuProducerAusr, West Africawww.equigold.com.au/
EQUINOX MINERALS LTDEQNMetalsAu, CuEmergingZambiawww.equinoxminerals.com
EROMANGA HYDROCARBONS NLERHEnergyOil & GasProducerQldwww.erohydro.com
EUREKA ENERGY LIMITEDEKAEnergyOil & GasExplorerTexaswww.eurekaenergy.com.au
EUROGOLD LTDEUGMetalsAuEmergingUkrainewww.eurogold.com.au/
EXCALIBUR MINING CORPORATION LTDEXMMetalsAu, CuEmergingQldwww.excaliburmining.com.au
EXCO RESOURCES LTDEXSMetalsCuEmergingQldwww.excoresources.com.au/
EXTRACT RESOURCESEXTMetalsUEmergingNamibiawww.extractresources.com
FAIRSTAR RESOURCES LTDFASMetalsAu, U, Ni, Pb, ZnExplorerWAwww.fairstarresources.com/
FALCON MINERALS LTDFCNMetalsAu, U, Ni, Pb, ZnExplorerWAwww.falconminerals.com.au/
FERRAUS LTDFRSMetalsFe, Ni, MgExplorerWAwww.ferraus.com
FERROWEST LTDFWLMetalsFeExplorerWAwww.ferrowest.com.au/
FINDERS RESOURCES LTDFNDMetalsAu, Ag??Indonesiawww.findersresources.com
FIRESTONE ENERGY LTDFSEMetals??ExplorerAfrica??
FLETCHER BUILDING LIMITEDFBUBuildingSteelOperatingNZwww.fletcherbuilding.com
FLINDERS DIAMONDS LIMITEDFDLGemstonesDiamondsExplorerSAwww.flindersdiamonds.com
FOCUS MINERALS LTDFMLMetalsAuExplorerWAwww.focusminerals.com.au/
FOREST ENTERPRISES AUSTRALIA LIMITEDFEAAgricultureTimberOperatingTASwww.forestenterprise.com
FORTESCUE METALS GROUP LTDFMGMetalsFeEmergingWAwww.fmgl.com.au
FOX RESOURCES LTDFXRMetalsNi, CuProducerWAwww.foxresources.com.au/
FRONTIER RESOURCES LTDFNTMetalsVariousExplorerPNGwww.frontierresources.com.au/
FUSION RESOURCES LIMITEDFSNEnergyUEmergingQldwww.fusionresources.com.au
GALAXY RESOURCES LTDGXYMetalsAuExplorerWAwww.galaxyresources.com.au/
GATEWAY MINING LTDGMLMetalsAuExplorerWAwww.gatewaymining.com.au/
GBM RESOURCES LTDGBZMetalsAuExplorerQldwww.gbmr.com.au
GENESIS MINERALS LTDGMDMetalsNi, Au, U, Pb, ZnExplorerWAwww.genesisminerals.com.au/
GEOPACIFIC RESOURCES NLGPRMetalsAuExplorerFijiwww.geopacific.com.au/
GINDALBIE METALS LTDGBGMetalsFeEmergingWAwww.gindalbie.com.au
GIPPSLAND LTDGIPMetalsTaEmergingEgyptwww.gippslandltd.com.au
GIRALIA RESOURCES NLGIRMetalsAuExplorerAustraliawww.giraliaresources.com.au/
GLADIATOR RESOURCES LIMITEDGLAEnergyUExplorerWAwww.gladiatorresources.com.au/
GLENEAGLE GOLD LTDGLNMetalsAuMothballedAustraliawww.gleneaglegold.com.au
GLENGARRY RESOURCES LTDGGYMetalsCuEmergingQldwww.glengarrynl.com.au/
GLOBAL GEOSCIENCE LTDGSCMetalsAu, CuExplorerPeruwww.globalgeo.com.au
GLOBAL GOLD HOLDINGS LTDGGHMetalsAuTraderMalaysiawww.globalgold.com.au
GLOBAL IRON LTDGFEMetalsFeExplorerWAwww.globaliron.com.au
GLOBAL NICKEL INVESTMENTS LTDGNIMetalsNiExplorerWAwww.globalnickel.com.au/
GME RESOURCES LTDGMEMetalsNiEmergingWAwww.gmeresources.com.au
GOLD AURA LTDGOAMetalsAu, Cu, Zn, PbExplorerQld, PNGwww.goldaura.com.au/
GOLD BULLION SECURITIES LTDGOLMetalsAuETFAustraliawww.goldbullion.com.au/
GOLDEN CROSS RESOURCES LTDGCRMetalsCu, AuEmergingNSWwww.goldencross.com.au/
GOLDEN DEEPS LTD.GEDMetalsAuExplorerMadagascarwww.goldendeeps.com
GOLDEN RIM RESOURCES LTDGMRMetalsAu, Cu, UExplorerFijiwww.goldenrim.com.au
GOLDEN STATE RESOURCES LTDGDNMetalsNiEmergingWAwww.goldenstate.com.au/
GOLDEN TIGER MINING NLGTXMetalsAuExplorerChinawww.goldentiger.com.au/
GOLDEN WEST RESOURCES LTDGWRMetalsFeExplorerWAwww.goldenwestresources.com/
GOLDMINEX RESOURCES LTDGMXMetalsNi, Au, CuExplorerPNG, WAwww.goldminex.com.au
GOLDSEARCH LTDGSEMetalsAu, CuExplorerNSW, Qldwww.goldsearch.com.au/
GOLDSTAR RESOURCES NLGDRMetalsAuExplorerVictoria, WAwww.goldstarnl.com.au/
GOLDSTREAM MINING LTDGDMwww.goldstreammining.com.au/
GONDWANA RESOURCES LIMITEDGDAMetalsAuExplorerWA
GOSFORD QUARRY HOLDINGS LIMITEDGQHBuildingQuarryProducerNSW
GRAND GULF ENERGY LIMITEDGGE
GRANGE RESOURCES LTD.GRRMetalsFeEmergingWAwww.grangeresources.com.au
GRAYNIC METALS LTDGYNMetalsPb, Zn, CuExplorerWA, NSWwww.graynicmetals.com.au
GREAT AUSTRALIAN RESOURCES LTDGAUMetalsPt, Pd, Ni, CrExplorerRSAwww.greataustralian.com.au/
GREAT GOLD MINESGNLwww.greatgoldmines.com.au/
GREAT SOUTHERN LIMITEDGTPAgricultureTimberOperatingAustraliawww.great-southern.com.au
GREAT WESTERN EXPLORATION LIMITED.GTE
GREATER BENDIGO GOLD MINES LTDGBMMetalsAuExplorerVictoriawww.gbgm.com.au/
GREATER PACIFIC GOLD LTDGPNMetalsV, Ti, U, AuExplorerNT, WAwww.gpgold.com.au/
GREEN ROCK ENERGY LIMITEDGRKEnergyGeothermalEmergingSAwww.greenrock.com.au
GREENLAND MINERALS AND ENERGY LTDGGGMetalsAuEmergingGreenlandwww.ggg.gl
GRYPHON MINERALS LTDGRYMetalsAu, NiEmergingAfrica, WAwww.gryphonminerals.com.au/
GTI RESOURCES LIMITEDGTRwww.gtiresources.com.au/
GULF MINES LIMITEDGLMwww.gulfmines.com.au/
GULF RESOURCES LIMITEDGLFwww.gulfresources.com.au/
GULLEWA LTDGULMetalsETFAustraliawww.gullewa.com
GUNNS LIMITEDGNSAgricultureTimberProducerTASwww.gunns.com.au
GUNSON RESOURCES LTDGUNMetalsCu, AuProducerAustraliawww.gunson.com.au/
HADDINGTON RESOURCES LTDHDNMetals, EnergyTa, U, Sands, coalProducerWAwww.haddington.com.au/
HAMPTON HILL MINING NLHHMMetalsAu, U, Pb, Zn, CuExplorerWAwww.hamptonhill.com.au/
HANNANS REWARD LTDHNRMetals, EnergyAu, Ni, Fe, UExplorerWAwww.hannansreward.com/
HAOMA MINING NLHAOMetalsAuEmergingWA, Qldwww.haoma.com.au/
HAVILAH RESOURCES NLHAVMetals. EnergyAu, GeothermalExplorerSAwww.havilah-resources.com.au/
HAWK RESOURCES LTDHFCMetalsWExplorerVictoriawww.hawkresources.com.au
HAWTHORN RESOURCES LTDHAWMetalsAuExplorerWAwww.greatgoldmines.com.au
HAZELWOOD RESOURCES LTDHAZMetalsNi, WExplorerWAwww.hazelwood.com.au/
HEEMSKIRK CONSOLIDATED LTDHSKMetals??ProducerCanada, Spainwww.heemskirk.com/
HELIX RESOURCES LTDHLXMetalsAu, Fe, U, Zn, PbExplorerWA, SAwww.helix.net.au/
HEMISPHERE RESOURCES LTDHEMMetalsAu, Ni, UExplorerWAwww.hemisphereresources.com.au/
HERALD RESOURCES LTDHERMetalsAu, Pb, ZnProducerSA, Indonesiawww.herald.net.au
HERITAGE GOLD NZ LTDHTMMetalsAuExplorerNZwww.heritagegold.co.nz/
HERON RESOURCES LTDHRRMetalsNiEmergingWAwww.heronresources.com.au/
HIGHLANDS PACIFIC LTDHIGMetalsNi, AuProducerPNGwww.highlandspacific.com/
HILL END GOLD LTDHEGMetalsAuEmergingNSWwww.hillendgold.com.au/
HILLGROVE RESOURCES LTDHGOMetalsAu, Cu, Zn, PbProducerSAwww.hillgroveresources.com.au/
HITEC ENERGY LTDHTEMetalsMgOxideEmergingIndiawww.hitec-energy.com.au/
HODGES RESOURCES LTDHDGMetalsMoExplorerVictoriawww.hodgesresources.com.au
HUDSON RESOURCES LIMITEDHRSGemstonesDiamondsExplorerGreenlandwww.hudsonresources.ca/
ICON RESOURCES LTDIIIMetalsAu, Zn, Ni, FeExplorerNSWwww.iconresources.com.au/
IGDX HOLDINGS LTDIGXMetalsAuTraderMalaysia, HKwww.igdx.com.au/
ILUKA RESOURCES LTDILUMetalsSandsProducerWA, Victoriawww.iluka.com
IMAGE RESOURCES NLIMAMetalsAu, Sands, Ni, UWAwww.imageres.com.au/
IMDEX LTDIMDMetals, EnergyCSM, metalsServicesAustraliawww.imdex.com.au
IMPACT MINERALS LTDIPTMetals, EnergyU, Au, Pb, Zn, Ni, Pt, PdExplorerAustralia, Botswanawww.impactminerals.com.au/
IMPERIAL CORPORATION LIMITEDIMPEnergyGasProducerUSAwww.imperialone.com.au
IMX RESOURCES NLIXRMetalsNi, Pt, AuEmergingAustralia, Tanzaniawww.goldstreammining.com.au
INCITEC PIVOT LIMITEDIPLAgricultureFertiliserProducerAustraliawww.incitecpivot.com.au
INDEPENDENCE GROUP NLIGOMetalsNi, AuProducerWAwww.independencegroup.com.au/
INDIA RESOURCES LTDIRLMetalsCu, Zn, PbEmergingIndiawww.indiaresources.com.au
INDO MINES LTDIDOMetalsAuExplorerIndonesia, Peru, Australiawww.indomines.com.au/
INDOPHIL RESOURCES NLIRNMetalsAu, Cu, Zn, PbEmergingPhilippineswww.indophil.com/
INDUSTRIAL MINERALS CORPORATION LTDIDMMetalsSandsEmergingUSAwww.industrialmineralscorp.com.au/
INTEC LTDINLMetalsCu, Zn, PbProducerTASwww.intec.com.au/
INTEGRA MINING LTDIGRMetalsAuProducerWAwww.integramining.com.au/
INTERMET RESOURCES LTDITTMetalsAu. Cu, U, Pb, ZnExplorerSAwww.intermetresources.com.au
INTERMIN RESOURCES LTDIRCMetalsAuOperatingWA
INTERNATIONAL GOLDFIELDS LTD..IGCMetalsPd, PtExplorerRSAwww.internationalgoldfields.com/
INTREPID MINES LTDIAUMetalsAuProducerAustralia, Canada, Mexico, Argentinawww.intrepidmines.com
INVESTIKA LTDIVKMetalsNi, Cu, Pb, ZnExplorerIndonesia, Chilewww.investika.com
IRON MOUNTAIN MINING LTDIRMMetalsFeExplorerWAwww.ironmountainmining.com.au/
IRON ORE HOLDINGS LTDIOHMetalsFeExplorerWAwww.ironoreholdings.com/
IRONBARK GOLD LTDIBGMetalsZn, Pb, AuExplorerGreenlandwww.ironbarkgold.com.au/
IRONCLAD MINING LTDIFEMetalsFeExplorerSAwww.ironcladmining.com/
JABIRU METALS LTDJMLMetalsCu, Pb, ZnProducerWA
JACKSON MINERALS LTDJAKMetalsU, Cu, Ni, Ag, AuEmergingArgentina, Australiawww.jacksongold.com.au/
JAGUAR MINERALS LTDJAGMetals??????www.jaguarminerals.com.au/
JAMES HARDIE INDUSTRIES N.V.JHXBuildingFibre CementProducerWorldwidewww.jameshardie.com
JAMESON RESOURCES LTDJALMetals??Explorer??www.jamesonresources.com.au
JERVOIS MINING LTDJRVMetalsAu, Ni, CoExplorerWA, NSWwww.jervois.com.au/
JINDALEE RESOURCES LTDJRLMetalsNi, UExplorerWA, NTwww.jindalee.net/
JUBILEE MINES NLJBMMetalsNiProducerWAwww.jubileemines.com.au
JUPITER ENERGY LIMITEDJPREnergyBiodiesel, Oil & GasEmergingMalaysia, Australiawww.jupiterenergy.com.au
JUPITER MINES LTDJMSMetalsFe, Zn, Ni, Pb, AuExplorerWAwww.jupitermines.com/
JUTT HOLDINGS LTDJUTMetalsAu, Zn, Pb, NiExplorerWAwww.juttholdings.com
KAGARA LTDKZLMetalsZn, PbProducerQldwww.kagara.com.au
KAIRIKI ENERGY LIMITEDKIKEnergyOil & GasExplorerPhilippineswww.kairikienergy.com/
KALGOORLIE-BOULDER RESOURCES LTDKALMetalsAu, Ni, Pb, ZnExplorerAustraliawww.kalgoorlieboulderres.com.au/
KANGAROO METALS LTDKMLMetalsCu, Ag, AuExplorerQldwww.kangaroometals.com.au
KASBAH RESOURCES LTDKASMetalsTinExplorerMoroccowww.kasbahresources.com
KENTOR GOLD LTDKGLMetalsAu????www.kentorgold.com/
KING ISLAND SCHEELITE LTDKISMetalsWMothballedTASwww.kingislandscheelite.com.au/
KING SOLOMON MINES LTDKSOMetalsAu, Pb, Cu, ZnExplorerChinawww.kingsolomonmines.com
KINGS MINERALS NLKMNMetalsAu, Cu, Zn, Pb, MoExplorerAustralia, Mexicowww.kingsminerals.com/
KINGSGATE CONSOLIDATED LTD.KCNMetalsAuProducerThailandwww.kingsgate.com.au/
KINGSROSE MINING LTDKRMMetalsAuExplorerWAkingsrosemining.com.au
KORAB RESOURCES LIMITEDKOREnergyUExplorerNTwww.korabresources.com.au/
KRUCIBLE METALS LTDKRBMetalsCu, Pb, Zn, Au, Ag, UExplorerQldwww.kruciblemetals.com.au/
LACHLAN STAR LIMITEDLSA????????
LAFAYETTE MINING LTDLAFMetalsAu, Cu, Zn, AgProducerPhilippineswww.lafayettemining.com/
LAKE RESOURCES N.L.LKEMetalsAu, CuExplorerPakistan, Argentinawww.lakeresources.com.au/
LATIN GOLD LTDLATMetalsAuExplorerPeru, Chilewww.latingold.com.au/
LATROBE MAGNESIUM LTDLMGMetalsMgEmergingVictoriawww.latrobemagnesium.com/
LEFROY RESOURCES LTDLEFMetalsLi, KExplorerChile, Peruwww.lefroyresources.com.au/
LEGEND MINING LTDLEGMetalsAu, Zn, Pb, Ni, CuExplorerWAwww.legmin.com.au/
LEYSHON RESOURCES LTDLRLMetalsAu, CuEmergingChinawww.leyshonresources.com/
LIBERTY RESOURCES LTDLBYMetalsAuExplorerWAwww.libertygold.com.au/
LIHIR GOLD LTD.LGLMetalsAuProducerPNGwww.lihir.com.pg/
LINCOLN MINERALS LTDLMLMetalsU, Pb, Zn, Cu, Ni, FeExplorerSAwww.lincolnminerals.com.au/
LINDIAN RESOURCES LTDLINMetalsFe, Au, PtExplorerAustraliawww.lindianresources.de/
LINQ RESOURCES FUNDLRFMetalsSmall stockETFWorldwidewww.linqresources.com/
LION SELECTION LTDLSTMetalsAu, CuETFAustralia, Africawww.lionselection.com.au/
LIONTOWN RESOURCES LTDLTRMetalsAu, NiExplorerWA, Qldwww.ltresources.com.au/
LODESTAR MINERALS LTDLSRMetalsAu, NiExplorerWAwww.lodestarminerals.com.au/
LODESTONE EXPLORATION LTDLODMetalsAuExplorerQldwww.lodestonex.com/
LONRHO MINING LIMITEDLOMGemstonesDiamondsExplorerRSAwww.narediamonds.com/
LYNAS CORPORATION LTDLYCMetalsREEsEmergingChina, WAwww.lynascorp.com
MACARTHUR COAL LIMITEDMCCEnergyCoalProducerQldwww.macarthurcoal.com.au/
MACMIN SILVER LTDMMNMetalsAgProducerQldwww.macmin.com.au/
MACQUARIE HARBOUR MINING LTDMHMMetalsAu, Sn, Cu, Pb, ZnExplorerTASwww.mhml.com.au/
MAGMA METALS LTDMMBMetalsNi, CuExplorerCanada, Australiawww.magmametals.com.au/
MAGNA MINING NLMANMetalsDiversifiedExplorerNamibiawww.magnamining.com.au/
MAGNETIC RESOURCES NLMAUMetals, EnergyAu, Ni, UExplorerWAwww.magres.com.au/
MAGNUM MINING AND EXPLORATION LTDMGUMetalsTiExplorerPhilippines, Namibiawww.mmel.com.au/
MALACHITE RESOURCES NLMARMetalsAu, Cu, Ag, Pb, ZnExplorerNSWwww.malachite.com.au/
MAMBA MINERALS LIMITEDMAB????????www.mamba.com.au/
MANTLE MINING CORPORATION LTDMNMMetalsAu, Cu, UExplorerQld, Victoriawww.mantlemining.com/
MARATHON RESOURCES LTDMTNMetalsAu, Cu, Pb, Zn, UExplorerSAwww.marathonresources.com.au/
MARENGO MINING LTDMGOMetalsCu, MoEmergingPNGwww.marengomining.com/
MATILDA MINERALS LTDMALMetalsSandsProducerNT, Qldwww.matildaminerals.com/
MATRIX METALS LTDMRXMetalsCuProducerQldwww.matrixmetals.com.au/
MAVUZI RESOURCESMAVMetalswww.mavuziresources.com.au/
MAWSON WEST LTDMWEMetalsCu, AuExplorerWA, Zambia, Congowww.mawsonwest.com.au/
MAXIMUS RESOURCES LTDMXRMetalsU, Au, Pt, Ni, FeExplorerSA, WAwww.maximusresources.com/
MEDUSA MINING LTDMMLMetalsAuEmergingPhilippineswww.medusamining.com.au/
METALLICA MINERALS LTDMLMMetalsNiProducerQldwww.metallicaminerals.com.au/
METALS AUSTRALIA LTDMLSMetalsZn, UExplorerNamibiawww.metalsaustralia.com.au/
METALS FINANCE CORPMFCMetalsVariousFinancierWorldwidewww.metalsfinance.com/
METALS X LTDMLXMetalsSn, NiProducerTAS, WAwww.metalsx.com.au/
METEORIC RESOURCES NLMEIwww.meteoric.com.au/
METEX RESOURCES LTDMEEMetalsAuWAwww.metex.com.au/
METMINCO LTDMNCMetals, EnergyAu, UExplorerWAwww.metminco.com.au/
MIDAS RESOURCES LTDMDSMetalsAu, CuEmergingChinawww.midasresources.com.au/
MIDWEST CORPORATION LTDMISMetalsFe finesProducerWAwww.midwestcorp.com.au/
MIDWINTER RESOURCES NLMWNMetalsAuExplorerWAwww.midwinterresources.com.au/
MIL RESOURCES LTDMGKMetalsFeExplorerPNGwww.mgil.com.au/
MILLENNIUM MINERALS LTDMOYMetalsMo, AuExplorerWAwww.wedgetail.net.au/
MILLEPEDE INTERNATIONAL LIMITEDMPD
MINARA RESOURCES LTDMREMetalsNi, CoProducerWAwww.minara.com.au/
MINCOR RESOURCES NLMCRMetalsNi, CoProducerWAwww.mincor.com.au/
MINDAX LIMITEDMDXwww.mindax.com.au/
MINEMAKERS LTDMAKMetalsP, salt, W, Fl, Fe, Ni, AuExplorerWAwww.minemakers.com.au/
MINERAL COMMODITIES LTDMRCMetalsSandsEmergingRSAwww.mineralcommodities.com.au/
MINERAL DEPOSITS LTDMDLMetalsSandsEmergingSenegalwww.mineraldeposits.com.au/
MINERAL SANDS LTDMSNMetalsSandsExplorerNSW, Qld, Victoriawww.minsands.com.au/
MINERAL SECURITIESMXXDiversifiedVariousHolding CoWorldwidewww.mineralsecurities.com.au/
MINERALS CORPORATION LIMITEDMSCBuildingKaolinProducerQld, WAwww.mineralscorp.com.au/
MINING PROJECTS GROUP LTDMPJMetalsAu, Pb, Zn, CuEmergingWAwww.miningprojectsgroup.com.au/
MINOTAUR EXPLORATION LTDMEPMetalsAu, Cu, U, Pb, ZnExplorerSAwww.minotaurexploration.com.au/
MINTAILS LIMITEDMLIEnergyCoalProducerAustraliawww.mintails.com.au/
MIRABELA NICKEL LTDMBNMetalsNiEmergingBrazilwww.mirabelanickel.com.au/
MITHRIL RESOURCES LTDMTHMetalsNi, SandsEmergingWAwww.mithrilresources.com.au/
MOLY MINES LTDMOLMetalsMoEmergingAustraliawww1.molymines.com/
MONARCH GOLD MINING COMPANY LTDMONMetalsAuProducerAustraliawww.monarchgold.com.au/
MONARO MINING NLMROMetalsAu, U, Pb, Zn, CuExplorerKyrgyz, Australiawww.monaromining.com/
MONAX MINING LTDMOXMetalsAu, Cu, Zn, PbExplorerSAwww.monaxmining.com.au/
MONTEZUMA MINING COMPANY LTDMZMMetalswww.montezumamining.com.au/
MONTO MINERALS LTDMOOMetalsTiEmergingQldwww.montominerals.com/
MORNING STAR GOLD N.L.MCOMetalsAuExplorerVictoriawww.morningstargold.com.au/
MOUNT BURGESS MINING NLMTBMetalsCu, Pb, ZnExplorerAfricawww.mountburgess.com/
MOUNT GIBSON IRON LTDMGXMetalsFeProducerWAwww.mtgibsoniron.com.au/
MOUNT MAGNET SOUTH NLMUMMetalsAu, Pb, Zn, CuExplorerWAwww.mountmagnet.com.au/
MUNDO MINERALS LTDMUNMetalsAuExplorerBrazil, Peruwww.mundominerals.com/
MURCHISON METALS LTDMMXMetalsFeProducerWAwww.mml.net.au/
MURCHISON UNITED NLMURMetalsUExplorerGuinea, Mauritaniawww.munl.com.au/
MUTINY GOLD LTDMYGMetalsAuExplorerVictoriawww.mutinygold.com.au/
NATIONAL CAN INDUSTRIES LIMITEDNCIPackagingCansOperatingAustraliawww.natcan.com.au/
NAVIGATOR RESOURCES LTDNAVMetalsAuProducerWAwww.navigatorresources.com.au/
NEWCREST MINING LTDNCMMetalsAu, CuProducerNSW, WAwww.newcrest.com.au/
NEWLAND RESOURCES LTDNRLMetalsCoal, AuHolding CoQldwww.newlandresources.com/
NEWMONT MINING CORPORATION.NEMMetalsAuProducerWorldwidewww.newmont.com/
NEWPORT MINING LTDNMNMetalsAu, Cu, U, Pb, ZnExplorerSAwww.newport-mining.com.au/
NEX METALS EXPLORATION LTDNMEMetalsAu, Ni, Pt, CuExplorerWAwww.nexmetals.com/
NGM RESOURCES LTDNGMMetalswww.ngmresources.com.au/
NICKELORE LTDNIOMetalsAu, Cu, Ni, PtExplorerWAwww.halcyongroup.com.au/
NIMRODEL RESOURCES LTDNMRMetalsCu, AuExplorerNSWwww.nimrodel.com.au/
NKWE PLATINUM LTDNKPMetalsPtExplorerRSAwww.nkweplatinum.com/
NOAH RESOURCES NLNOAMetalsSn, W, Mo, AuExplorerAustralia??
NORTH AUSTRALIAN DIAMONDS LTDNADGemstonesDiamondsExplorerWA, NTwww.nadl.com.au/
NORTH QUEENSLAND METALS LTDNQMMetalsAuEmergingQldwww.nqm.com.au/
NORTHERN IRON LTDNFEMetalsFeEmergingNorwaywww.northerniron.com.au/
NORTHERN MINING LTDNMIMetalsAu, Ni, Zn, PbExplorerWA, NT, Polandwww.northernmining.com.au/
NORTHERN STAR RESOURCES LTDNSTMetalsAu, Pt, Pb, Cu, ZnExplorerWAwww.nsrltd.com/
NORTHWEST RESOURCES LTDNWRMetalsAuEmergingWAwww.nw-resources.com.au/
NORTON GOLD FIELDS LTDNGFMetalsAuRe-emergingWAwww.nortongoldfields.com.au/
NUENERGY CAPITAL LIMITEDNGYEnergyOil & GasExplorerAustralia??
NUFARM LIMITEDNUFAgriculturePesticidesOperatingAustraliawww.nufarm.com/
NULLARBOR HOLDINGS LTDNLBMetalsVariousExplorerWorldwide??
NUPLEX INDUSTRIES LIMITED.NPXPackagingResinsOperatingNZwww.nuplex.co.nz/
OCEANAGOLD CORPORATIONOGCMetalsAuProducerAustralia, Philippineswww.oceanagold.com.au/
OLYMPIA RESOURCES LTDOLYMetals, EnergySands, UExplorerAustralia, Indonesiawww.olympiaresources.com/
OM HOLDINGS LTDOMHMetalsMnProducerNTwww.omholdingsltd.com/
ONESTEEL LIMITEDOSTBuildingSteelProducerWorldwidewww.onesteel.com/
ORD RIVER RESOURCES LTDORDMetalsFewww.ord.com.au/
ORICA LIMITEDORIBuildingExplosivesProducerWorldwidewww.orica.com/
ORIENT RESOURCE HOLDINGS LIMITEDORHBuildingSteelOperatingAsia Pacificwww.orientresources.com.au/
OROCOBRE LTDOREMetalsLi, Au, Cu, AgExplorerArgentinawww.orocobre.com.au/
OROPA LTDORPMetalsAuEmergingIndonesia, Indiawww.oropa.com.au/
OROYA MINING LTDOROMetalsAi, Pb, ZnExplorerNSW, Victoriawww.oroya.com.au/
OVERLAND RESOURCES LTDOVRMetalsNi, Cu, Pt, Pb, Zn, AuExplorerNSW, NZwww.overlandresources.com/
OVERSEAS & GENERAL LIMITEDOGLAgricultureTimberOperatingFiji, Malaysiawww.overseas-general.com/
OXIANA LTDOXRMetalsCu, AuProducerLaoswww.oxiana.com.au/
PACIFIC MINING LTDPFMMetalsVariousHolding CoAustralia??
PACIFIC ORE LTDPSFMetalsAu, CuExplorerNT, Mongoliawww.trajanminerals.com.au/
PACRIM ENERGYPREMetals, EnergyAu, oil & gasExplorerUSA, PNG, Australiawww.pacrimenergy.com.au/
PACMAG METALS LTDPMHMetalsMg, ??ExplorerWorldwidewww.pacmag.com.au/
PAN AUSTRALIAN RESOURCES LTDPNAMetalsCu, AuExplorerLaoswww.panaustralian.com.au/
PAN PALLADIUM LTDPPDMetals???
PANAEGIS GOLD MINES LTDPAUMetalsAuExplorerVictoriawww.panaegisgold.com.au/
PAPERLINX LIMITEDPPXPackagingPaperOperatingAustraliawww.paperlinx.com.au/
PAPYRUS AUSTRALIA LIMITEDPPYPackagingPaperProducerAustraliawww.papyrusaustralia.com.au
PARADIGM METALS LTDPDMMetals????????
PARAMOUNT MINING CORPORATION LTDPCPGemstonesDiamondsExplorerGhana, RSA, WAwww.paramountmining.com/
PEAK RESOURCES LTDPEKMetals, EnergyAu, Ni, , Zn, PbExplorerWAwww.peakresources.com.au/
PEEL EXPLORATION LTDPEXMetalsAu, Ni, Pt, CuExplorerNSWwww.peelex.com.au/
PEGASUS METALS LTDPUNMetals, EnergyAu, U, Pb, Zn, CuExplorerWAwww.pegasusmetals.com.au/
PELICAN RESOURCES LTDPELMetalsAu, Ni, FeExplorerWA, Philippineswww.pelicanresources.com.au/
PELSART RESOURCES NLPRN
PENINSULA MINERALS LTDPENMetalsAu, U, NiExplorerFiji, Tanzania, Australiawww.peninsulaminerals.com.au/
PENRICE SODA HOLDINGS LIMITEDPSHChemicalsSoda AshOperatingAustraliawww.penrice.com.au/
PEPINNINI MINERALS LTDPNNMetalsU, Ni, Au, Cu, Pb, ZnSA, Qldwww.pepinnini.com.au/
PERILYA LTDPEMMetalsCu, Zn, PbProducerNSWwww.perilya.com.au/
PERSEVERENCE MININGPSVMetalsAuVictoriawww.perseverance.com.au/
PERSEUS MINING LTDPRUMetalsAuEmergingAfricawww.perseusmining.com.au/
PHOENIX COPPER LTDPNXMetalsCu, AuExplorerSAwww.phoenixcopper.com.au/
PIKE RIVER COAL LIMITEDPRCEnergyCoalEmergingNZwww.pike.co.nz/
PIONEER NICKEL LTDPIOMetalsCu, Au, NiExplorerWAwww.pioneernickel.com.au/
PLATINA RESOURCES LTDPGMMetalsPt, Pd, AuEmergingNSW, WAwww.platinaresources.com.au/
PLATINUM AUSTRALIA LTDPLAMetalsPt, Pd, AuEmergingWA, RSAwww.platinumaus.com.au/
PLATSEARCH NLPTSMetalsAu, Pt, Pb, Cu, ZnExplorerSA, Qld, NSWwww.platsearch.com.au/
PLENTEX LTDPRMMetalsMo, U, FlExplorerQldwww.plentex.com.au/
PLUTON RESOURCES LIMITEDPLV
POLARIS METALS NLPOLMetalsFeEmergingWAwww.polarismetals.com.au/
PORTMAN LTDPMMMetalsFeProducerWAwww.portman.com.au/
POSEIDON NICKEL LTDPOSMetalsNi, AuExplorerWA, Ghanawww.poseidon-nickel.com.au/
PRAIRIE DOWNS METALS LTDPDZMetalsCu, Pb, ZnEmergingWAwww.prairiedownsmetals.com.au/
PRIMARY RESOURCES LTDPRZMetalsAu, CuExplorerNSWwww.primaryresources.com.au
PRIME MINERALS LTDPIMMetalsU, Au, Ti, VExplorerWAwww.primeminerals.com.au/
PRO-PAC PACKAGING LIMITEDPPGPackagingVariousOperatingAustraliawww.pro-pac.com.au/
PROSPERITY RESOURCES LTDPSPMetalsAuExplorerWA, Indonesiawww.prosperity.net.au/
PROTO RESOURCES & INVESTMENTS LTDPRWMetalsAu, Pb, Zn, CuExplorerWA, TASwww.protoresources.com.au/
QUANTUM RESOURCES LTDQURMetalsU, Au, Zn, Pb, CuExplorerWA, NTwww.qur.com.au/
QUAY MAGNESIUM LTDQMGMetalsMg-alloyOperatingChinawww.quaymagnesium.com/
QUEENSLAND GOLD AND MINERALS LTDQGMMetalsCu, Au, Pb, Zn, NiExplorerAustraliawww.qgm.com.au/
QUEENSLAND MINING CORPORATION LTDQMNMetalsCuProducerQldqueenslandminingcorporation.com.au/
QUEENSLAND ORES LTDQOLMetalsSn, WEmergingQldwww.qol.com.au/
RAMELIUS RESOURCES LTDRMSMetalsTa, Cu, AuExplorerWAwww.rameliusresources.com.au/
RAND MINING NLRNDMetalsAuRe-emergingWAwww.randmining.com.au/
RANGE RESOURCES LTDRRSMetals, EnergyVariousExplorerSomaliawww.rangeresources.com.au/
RANGE RIVER GOLD LTDRNGMetalsAuMothballedWAwww.rangeriver.com.au/
RED 5 LTDREDMetalsAuEmergingPhilippineswww.red5ltd.com/
RED EMPEROR RESOURCES NLRMPMetalsCuExplorerWAwww.red-emperor.com/
RED HILL IRON LTDRHIMetalsFeExplorerWAwww.redhilliron.com.au/
RED METAL LTDRDMMetalsCu, U, b, Zn, AuExplorerSAwww.redmetal.com.au/
RED RIVER RESOURCES LTDRVRMetalsFeExplorerWAwww.redriverresources.com.au/
REDBANK MINES LTDRBMMetalsCu, AuExplorerFiji, WAwww.redbankmines.com.au/
REDSTONE RESOURCES LTDRDSMetalsCu, U, b, Zn, AuExplorerWAwww.redstone.com.au/
REED RESOURCES LTDRDRMetalsVEmergingWAwww.reedresources.com/
REEDY LAGOON CORPORATION LTDRLCMetals???ExplorerAustraliawww.reedylagoon.com.au/
REGAL RESOURCES LTDRERMetalsAuProducerWAwww.regalresources.com.au/
REGIS RESOURCES LTDRRLMetalsAu, NiExplorerWAwww.regisresources.com/
RENISON CONSOLIDATED MINES NLRSNMetalsAuRe-direction??www.rcm.com.au/
REPUBLIC GOLD LTDRAUMetalsAu, WExplorerQldwww.republicgold.com.au/
RESOLUTE MINING LTDRSGMetalsAuProducerAfricawww.resolute-ltd.com.au/
RESOURCE AND INVESTMENT NLRNIGemstonesDiamondsExplorerRSA, WA, Angola, Brazilwww.rninl.com.au/
RESOURCE BASE LTDRBXMetalsAuExplorerNSWwww.resourcebase.com.au/
RESOURCE MINING CORPORATION LTDRMIMetalsFeExplorerPNG, WAwww.resmin.com.au/
REVERE MINING LTDRVMMetalsAuExplorerWAwww.reveremining.com.au/
REWARD MINERALS LTDRWDMetalsPotashEmergingWAwww.rewardminerals.com/
REX MINERALS LTDRXMMetalsAuExplorerNSW, Victoriawww.rexminerals.com.au/
RIMFIRE PACIFIC MINING NLRIMGemstones, MetalsPt, diamonds, AuExplorerNSWwww.rimfire.com.au/
RIO TINTO LIMITEDRIODiversifiedVariousProducerWorldwidewww.riotinto.com/
RMA ENERGY LTDRMTMetalsCoal, U, SnExplorerQld, NSWwww.rmaenergyltd.com/
ROBUST RESOURCES LTDROLMetalsVariousExplorerNSWwww.robustresources.com.au/
ROX RESOURCES LTDRXLMetalsPb, ZnExplorerLaoswww.roxresources.com.au/
ROYAL RESOURCES LTDROYMetals, EnergyU, V, Fe, Pd, AuExplorerUSA, WAwww.royalresources.com.au/
ROYALCO RESOURCES LTDRCOMetalsAuRoyaltiesPhilippineswww.royalco.com.au/
RUBICON RESOURCES LTDRBRMetalsAu, Pb, Zn, CuExplorerWAwww.rubiconresources.com.au/
RURALAUS INVESTMENTS LIMITEDRURAgricultureTimberOperatingWAwww.ruralaus.com.au/
RUSINA MINING NLRMLMetalsNi, CrEmergingPhilippineswww.rusina.com.au/
SABRE RESOURCES LTDSBRMetals, EnergyNi, UExplorerWA, Tanzaniawww.sabresources.com/
SALLY MALAY MINING LTDSMYMetalsNiProducerWAwww.sallymalay.com/
SANDFIRE RESOURCES NLSFRMetalsCu, Pb, Zn, AuExplorerWA, NTwww.sandfire.com.au/
SARACEN MINERAL HOLDINGS LTDSARMetalsAuEmergingWAwww.saracen.com.au/
SCIMITAR RESOURCES LIMITEDSIMEnergyUExplorerSAwww.scimitarresources.com.au/
SCOTGOLD RESOURCES LTDSGZMetalsAu, AgExplorerScotlandwww.scotgoldresources.com/
SEGUE RESOURCES LTDSEGMetalsNi, Cu, AuExplorerWA, NTwww.segueresources.com/
SHAW RIVER RESOURCES LTDSRRMetalsNi, Cu, AuExplorerWAwww.shawriver.com.au/
SHIELD MINING LTDSHXMetalsU, Cu, Au, Pb, ZnExplorerMadagascar, Mauritaniawww.shieldmining.com/
SIERRA MINING LTDSRMMetalsCu, AuExplorerPNG, Philippineswww.sierramining.com.au/
SIGNATURE BRANDS LTDSBLMetals??RedirectionAustralia
SILVER LAKE RESOURCES LTDSLRMetalsAuExplorerWAwww.silverlakeresources.com.au/
SILVER MINES LTDSVLMetalsAgExplorerNSWwww.silverminesltd.com.au/
SILVER SWAN GROUP LTDSWNMetalsAgExplorerSAwww.silverswangroup.com.au/
SIMS GROUP LTD.SGMMetalsScrapOperatingWorldwidewww.sims-group.com/
SINO GOLD MINING LTDSGXMetalsAuProducerChinawww.sinogold.com.au/
SINOVUS MINING LTDSNVMetalsAu, Ag, MnExplorerChinawww.sinovusmining.com/
SIPA RESOURCES LTDSRIMetalsExplorerAustraliawww.sipa.com.au/
SOUTH BOULDER MINES LTDSTBMetalswww.southbouldermines.com.au/
SOUTHERN CROSS EXPLORATION N.L.SXXMetals Au, MnExplorerNT, Victoria, Philippines, Iranwww.scxnl.com/
SOUTHERN CROSS GOLDFIELDS LTDSXGMetalsAu, NiExplorerWAwww.scross.com.au/
SOUTHERN GOLD LTDSAUMetalsAuExplorerSA, Cambodiawww.southerngold.com.au/
SOVEREIGN METALS LTDSVMMetals, EnergyCu, Au, UExplorerWA, Qldwww.sovereignmetals.com.au/
SPHERE INVESTMENTS LTDSPHMetalsFeEmergingAfricawww.sphereinvestments.com.au/
SPITFIRE RESOURCES LTDSPIMetalsMnEmergingWAwww.spitfireresources.com/
ST BARBARA LTDSBMMetalsAuProducerWAwww.stbarbara.com.au/
STELLAR RESOURCES LTDSRZMetals, EnergyU, Au, Pb, Cu, ZnExplorerNSW, TAS, SAwww.stellarresources.com.au/
STIRLING MINERALS LTDSMZMetalsAu, Pb, Cu, ZnExplorerNSWwww.stirlingminerals.com.au/
STONEHENGE METALS LTDSHEMetalsPb, Zn, Ag, Ni, Cu, SnExplorerTAS, Indonesiawww.stonehengemetals.com.au/
STRAITS RESOURCES LTDSRLMetals, EnergyCoal, Cu, AuProducerNSW, WA, Indonesiawww.straits.com.au/
STRATEGIC MINERALS CORPORATION NLSMCMetalsAuEmergingQldwww.stratmin.com.au/
STRIKE RESOURCES LTDSRKMetalsFeExplorerAustralia, Peru, Indonesiawww.strikeresources.com.au/
SUB-SAHARA RESOURCES NLSBSMetalsAuEmergingAfricawww.subsahara.com.au/
SUMMIT RESOURCES LTDSMMMetals, EnergyU, VEmergingQldwww.summitresources.com.au/
SUNDANCE RESOURCES LTDSDLMetalsFe, Cu, Au, Pb, ZnExplorerWest Africawww.sundanceresources.com.au/
SUPERIOR RESOURCES LTDSPQMetalsCu, Pb, ZnExplorerQld
SYLVANIA RESOURCES LTDSLVMetalsPt, PdExplorerRSAwww.sylvaniaresources.com/
SYMEX HOLDINGS LIMITEDSYMChemicalsSoapOperatingAustraliawww.symex.com.au/
SYNDICATED METALS LTDSMDMetalsCu, Au, Mo, Pb, Zn, UExplorerQld, WAwww.syndicatedmetals.com
SYNERGY METALS LTDSMLMetalsAuExplorerVictoriawww.synergymetals.com.au/
SYRAH RESOURCES LTDSYRMetalsCuExplorerQldwww.syrahresources.com.au/
TAKORADI LTDTKGMetalsCu, AuExplorerWorldwide
TALISMAN MINING LTDTLMMetalsFe, Au, Pb, Zn, CuExplorerWAwww.talismanmining.com.au/
TAMAYA RESOURCES LTDTMRMetalsCu, AuProducerChilewww.tamayaresources.com/
TANAMI GOLD NLTAMMetalsCu, AuEmergingNT, Victoria, Philippines, Iranwww.tanami.com.au/
TASMAN GOLDFIELDS LTDTGXMetalsAuExplorerNZ, NSWwww.tasmangoldfields.com.au/
TASMAN RESOURCES NLTASMetalsAu, Cu, Pb, Zn, AgExplorerSAwww.tasmanresources.com.au/
TASMANIA MINES LTDTMMMetalsFeProducerTAS
TAWANA RESOURCES NLTAWMetalsGemstonesDiamondsWAwww.tawana.com.au/
TECTONIC RESOURCES NLTTRMetalsCu, Au, NiExplorerWAwww.tectonicres.com.au/
TERRAIN MINERALS LTDTMXMetalsAuExplorerWAwww.terrainminerals.com.au/
TERRAMIN AUSTRALIA LTD.TZNMetalsPb, ZnEmergingSpainwww.terramin.com.au/
TERRITORY RESOURCES LTDTTYMetalsFeEmergingNTwww.territoryiron.com.au/
TERRITORY URANIUM COMPANY LIMITEDTUCEnergyU, Au, Pb, ZnExplorerNTwww.territoryuranium.com.au/
TFS CORPORATION LIMITEDTFCAgricultureTimberOperatingWAwww.tfsltd.com.au/
THOR MINING PLCTHRMetalsMo. W, UEmergingNTwww.thormining.com/
THUNDELARRA EXPLORATION LTDTHXMetalsCu, Pb, ZnProducerQldwww.thundelarra.com/
TIANSHAN GOLDFIELDS LTDTGFMetalsAuEmergingChinawww.tianshangoldfields.com.au/
TIARO COAL LIMITEDTCMEnergyCoalEmergingQldwww.tiarocoal.com.au/
TIGER RESOURCES LTDTGSMetalsCu, Co, Au#ExplorerCongo, Brazilwww.tigerresources.de/
TIMBERCORP LIMITEDTIMAgricultureTimberOperatingNSW, Victoriawww.timbercorp.com.au/
TNG LTDTNGMetalsAu, CuExplorerNTwww.tngltd.com.au/
TRAFFORD RESOURCES LTDTRFMetalsAuExplorerSA, WAwww.traffordresources.com/
TRAKA RESOURCES LIMITEDTKL????????www.trakaresources.com.au/
TRANSIT HOLDINGS LTDTRHMetalsFe, Au, Pb, Zn, CuExplorerWAwww.transitholdings.com.au/
TRI ORIGIN MINERALS LTDTRO????????www.trioriginminerals.com.au/
TRIBUNE RESOURCES NLTBRMetalsAuRe-emergingAustraliawww.tribune.com.au
TROY RESOURCES NLTRYMetalsAuProducerAustraliawww.try.com.au/
TRUSCOTT MINING CORPORATION LTDTRMMetalsAuExplorerNT, WAwww.truscottmining.com.au/
UNION RESOURCES LTDUCLMetalsZn, PbEmergingIranwww.unionresources.com.au/
UNITED MINERALS CORPORATION NLUMC??????????
UNIVERSAL RESOURCES LTDURLMetalsCuEmergingQldwww.universalresources.com.au/
URAMET MINERALS LTDURMMetalsU, Pb, ZnExplorerNTwww.uramet.com.au/
URAN LIMITEDURA??????????
VECTOR RESOURCES LTDVECMetals??ExplorerWAwww.vectorresources.com.au/
VENTURE MINERALS LIMITEDVMSEnergyUExplorerAustraliawww.ventureminerals.com.au/
VENUS RESOURCES LIMITEDVNSGemstonesDiamondsExplorerWAwww.venusresources.com.au/
VIETNAM INDUSTRIAL INVESTMENTS LIMITEDVIIBuildingSteelOperatingVietnamwww.vii.net.au/
VIEW RESOURCES LTDVREMetalsNi, AuEmergingWAwww.viewresources.com.au/
VITAL METALS LTDVMLMetalsW, MoEmergingQldwww.vitalmetals.com.au/
VULCAN RESOURCES LTDVCNMetalsNi, Cu, Pb, Zn, AuEmergingWA, Finlandwww.vulcanresources.com.au/
WARWICK RESOURCES LTDWRKMetalsCu, Au, U, Cr, Pb, ZnExplorerWAwww.warwickresources.com.au/
WASHINGTON RESOURCES LTDWRLMetalsU, WExplorerNT, WAwww.washingtonresources.com.au/
WATTYL LIMITEDWYLBuildingPaintOperatingAustraliawww.wattyl.com.au/
WCP RESOURCES LTDWCPMetalsCu, Au, Pt, U, Pb, ZnExplorerSAwww.wcpd.com.au/
WARALIAN METALS LTDWMEEnergyUExplorerNamibiawww.wametals.com.au/
WEST WITS MINING LTDWWIMetalsAuExplorerRSAwww.westwitsmining.com/
WESTERN AREAS NLWSAMetalsNiProducerWAwww.westernareas.com.au/
WESTERN DESERT RESOURCES LTDWDRMetalsU, Au, Pb, Zn, CuExplorerNTwww.westerndesertresources.com.au/
WESTERN METALS LTDWMTMetalsCu, Pb, ZnExplorerAustralia, Tanzania, USA, Peruwww.westernmetals.com.au/
WESTERN PLAINS RESOURCES LTDWPGMetalsFeExplorerSAwww.westernplainsgold.com.au/
WESTGOLD RESOURCES LTDWGRMetalsCu, Au, Pt, U, Pb, ZnExplorerSAwww.westgold.com.au/
WESTONIA MINES LTDWEZMetalsAuExplorerWAwww.westoniamines.com.au/
WHITE CLIFF NICKEL LTDWCNMetalsNi, AuExplorerWAwww.wcnickel.com.au/
WHITE ENERGY COMPANY LTDWECMetals, EnergyNi, clean coalTechAustraliawww.whiteenergyco.com.au/
WILLMOTT FORESTS LIMITEDWFLAgricultureTimberOperatingVictoriawww.willmottforests.com.au/
WINDIMURRA VANADIUM LTDWVLMetalsVEmergingWAwww.pmal.com.au/
WINDY KNOB RESOURCES LTDWKRMetalsAu, NiExplorerWAwww.windyknobresources.com.au/
WOLF MINERALS LTDWLFMetalsSn, WExplorerNSWwww.wolfminerals.com.au/
XENOLITH RESOURCES LIMITEDXENEnergyUExplorerAustralia, Canada
YTC RESOURCES LTDYTCMetalsCu, Au, SnExplorerNSWwww.ytcresources.com/
ZAMBEZI RESOURCES LTDZRLMetals, EnergyCu, Au, UExplorerZambiawww.zambeziresources.com/
ZAMIA GOLD MINES LTDZGMMetalsAuExplorerQldwww.zamiagold.com.au/
ZEDEX MINERALS LTDZDXMetalsAuExplorerAsia Pacificwww.zedex.com.au/
ZIMPLATS HOLDINGS LTDZIMMetalsPt, PdProducerZimbabwewww.zimplats.com/
ZINC CO AUSTRALIA LTDZNCMetalsZn, W, MoExplorerMalaysia, Australiawww.zincco.com.au/
ZINIFEX LTDZFXMetalsZn, PbSmelter, ProducerNSWwww.zincco.com.au/