Prima BioMed (PRR) is a biotechnology company focused on cancer immunotherapy, which stimulates the body’s own immune system to attack tumours.

Its lead product is the CVac ovarian cancer immune therapeutic or known as therapeutic cancer vaccine.

CVac has completed two successful clinical trials and is progressing toward eventual commercialisation in the US, Australia, Europe, and globally.

This product is a maintenance therapy for patients with ovarian cancer administered post surgery and post chemotherapy to delay relapse and control metastases.

The company’s strategy is to commercialise CVac into the multi-billion dollar global oncology therapeutic market.

PRR has other products in the development pipeline like the Oral HPV vaccine created using dense gas technology.

PRR plans to list on the Nasdaq Global Market in the United States. Subject to approval, the company will have a dual listing of its securities on both the ASX and Nasdaq.

PRR has also been one of the hot stocks recently, with its share price surging more than 50% in the past few weeks.

Projects progressing

CVac results from phase I and phase IIa trials have been very promising. It has also been evaluated for a registration study in breast cancer.

The global market size for ovarian cancer is estimated to grow to US$3.6 billion in the near future.

CVac would be the first of its type in the market and would and would initially aim to take a conservative 10%-25% of the ovarian cancer treatment market.

A conservative 10% market share equates to approximately US$360 million per annum.

CVac also has potential indications in several additional cancers.

Trial for ovarian cancer patients in remission is planned to commence by third quarter 2011.

Financials

Being in infancy, PRR’s financial record is yet to gain traction. The company recently announced the appointment of Ian Bangs as its new CFO to bolster its financial affairs.

For the half ended 31 December, PRR reported a marked increase in revenue to $0.51 million.

The company also saw its net loss narrow to $6.9 million (from $7.9 million) on year.

With PRR progressing rapidly to commercialisation of world’s first ovarian cancer vaccine, we feel this result will be turned around soon.

PRR is well funded with $40 million committed for current work.

Looking ahead

PRR’s CVac addresses a major global unmet medical need. The company has top tier scientific advisors and project managers with a track record of successful commercialisation.

Its long term goal is to develop commercial cancer treatment technologies and programs for global markets.

Successful results will see Prima BioMed capture a significant share of the multibillion dollar cancer vaccine market.

Trials indicate CVac is a strong candidate for treatment of ovarian cancer patients in remission.

Success will provide considerable investment return over the next 2 to 3 years therefore PRR will be one of the stocks to watch.

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Northern Star Resources (NST) explores and develops mineral resources in the highly prospective Kimberley region.

NST is an emerging gold producer and explorer with a market capitalisation of around $120 million.  Its main project is the Paulsens gold mine which it purchased for $40 million.

NST has been one of the hot shares in recent months, more than doubling its share price since last August.

The miner expects to release a resource upgrade later this month and a new mine plan for Paulsens this year.

NST recently acquired the 668,000 ounce (oz) Ashburton Gold Project which is close to the Paulsens mine.

Ashburton acquisition

NST agreed to purchase the Ashburton Gold Project from Sipa Resources which will be paid for via a royalty on future production.

The deal includes 668,000oz resource and the Mt Olympus Gold Mine, which has previously produced 340,000oz.

This puts NST in a prime position to increase production rates, project life and create shareholder wealth through exploration.

Ashburton is a strategic asset for NST as it provides an immediate resource boost to the miner’s resource base.

Bright future

The miner is debt free after paying a final $2.5 million production royalty on the Paulsens gold mine acquisition.

Paulsens produced a record 48,559 oz in the December half, generating revenue of $65.4 million.

Cash costs for the half were $510 per oz which is low when compared to other Australian gold miners.

Northern Star Resources repaid the $40 million acquisition of Paulsens in just seven months.

Resources at Paulsens currently stand at 128,700 oz. Added to the Ashburton resource, the total resource from the two is 796,700oz.

Current production is 6,000oz per month which brings in revenue of approximately $8 million per month.

Being unhedged, NST has maximum exposure to the surging gold prices.

Its exploration program at Ashburton is well underway and could deliver a significant resource upgrade as early as this month.

With strong cashflow and a robust balance sheet, NST is in a good position to grow.

Outlook

Gold has gained over 30% this year, reaching fresh record highs this week as tension in North Africa and the Middle East pushes investors towards the safety of the shiny metal.

The metal printed highs of around US$1440 this week and continues to hold its ground well above US$1400.

NST’s strong financial position leaves it well placed for further acquisitions in line with its objective of building a major mining house.

The miner is likely to announce a resource upgrade this month which would give it further upside.

With the potential for further acquisitions and strong gold prices backing the unhedged miner, it will be one of the stocks to watch in coming months.

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Liquefied Natural Gas (LNG), as the name suggests, is focused on liquefied natural gas (colloquially known as LNG) prospects locally and internationally.

The group is renowned for its Gladstone LNG Project at Fisherman’s Landing. The project boasts 18,000 PJ of uncontracted gas resources and is the lowest capital cost liquefied natural gas project in Gladstone (at around US$300/tonnes per annum).

The Gladstone LNG Project will remain the company’s major focus until achievement of targeted commercial operations in 2012.

As liquefied natural gas is in hot demand, Australian companies with exposure to the resource have drawn international interest.

LNG was one of the hot stocks in mid 2010, with its share price more than doubling in the month of July.

In a show of confidence, in late January China Huanqiu Contracting & Engineering Corp. agreed to acquire a 19.9% stake in the company.

Gladstone project

At present, the company is in the development progress on the planned three million tonne per annum (mtpa) LNG project at Fisherman’s Landing in the Port of Gladstone, Queensland.

The Gladstone Project will be the first coal seam gas (CSG) to LNG export project in the world and the first east coast of Australia LNG export project.

Located at Fisherman’s Landing, the Gladstone Project will benefit from local infrastructure, whilst the site area can potentially accommodate four trains at a guaranteed 6 million tonnes per annum (mtpa).

Stage 1 dredging and disposal approvals have been received, FEED is completed and a low-cost fixed price EPC proposal has been submitted.

The group has stated that LNG buyers are available, and it is focused on three partners.

China takeover

In late January, China Huanqiu Contracting & Engineering Corp. (HQCEC), an engineering unit of China National Petroleum Corp. (CNPC), agreed to acquire a 19.9% stake in LNG, the company.

CNPC is China’s largest producer and supplier of crude oil and natural gas.

The acquisition will make the CNPC unit the largest shareholder of the Australian firm. The parties would not disclose the value of the deal.

CNPC was eager to involve itself owing to the OSMR natural gas liquefaction technology offered by our Perth-based company.

The deal is a reflection of Chinese interest in Australian resource companies. CSG continues to be an in-demand part of the resource sector, and Australia in particular boasts a number of lucrative CSG regions.

December update

Though the company has yet to produce results, its December quarter report highlighted its focus on the deal with HQCEC, which constitutes a favourable turn for the group.

In the quarter the group continued to hold a 5% shareholding in Metgasco, and remains its largest shareholder.

The company also holds a 7.51 % shareholding in Oil Basins Limited (OBL). OBL has prospective oil and gas permit interests in the offshore Gippsland Basin of south-eastern Australia, the onshore Canning Basin of Western Australia and the offshore waters of the Carnarvon Basin.

The quarter also involved consideration by HQCEC and CNPC, or an affiliate of CNPC, as to their involvement in the Gladstone LNG Project, including direct investment in the project.

Outlook

As liquefied natural gas and coal seam gas continue to be a hot part of the resource sector, the company (LNG) stands to benefit from future production as well as international interest in its Gladstone LNG Project at Fisherman’s Landing, so it will be one of the stocks to watch in coming months.

China Huanqiu Contracting & Engineering Corp. agreed to acquire a 19.9% stake in the company last month. A major draw card was the Gladstone LNG Project, which is targeting commercial operation in 2012.

The company’s flagship project boasts 18,000 PJ of uncontracted gas resources and is the lowest capital cost liquefied natural gas project in Gladstone (at around US$300/tonnes per annum).

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Resource Generation (RES) is invested in coal and energy resource projects in the Waterberg coalfields (South Africa) Tasmania and Cameroon. RES’s primary focus is on the South African Waterberg project, which consists of 12 coal tenements. These are held via two joint ventures.

The group’s portfolio of resources already accumulated includes low overburden, inexpensive-to-mine coal deposits in South Africa and Australia, as well as potentially very low-cost uranium deposits in Cameroon.

RES has been one of the hot stocks recently, surging around 50% since mid-December 2010.

With cash on hand of $37 million, RES is well placed to take advantage of forecast demand for coal, particularly via its Waterberg project.

South African story

RES is on track for the development of a massive coal mine in South Africa, having recently lodged the mining rights application for the Boikarabelo mine in the Waterberg region.

RES is looking at the June quarter for approval of the application. The mine construction is slated to be completed in 2012, which will mark the year of the delivery mine fleet.

Waterberg constitutes 40% of South Africa’s remaining coal source. The Boikarabelo mine is a major 6.4 billion tonne resource, with current probable reserves of 745 million tonnes.

Infrastructure and transport solutions were completed in 2010.

Coal power

Over the next 18 months, continued demand from emerging economies such as China and India is expected to drive growth in consumption of energy and minerals commodities.

Treasury official David Gruen noted that strong demand for Australia’s coal and iron ore from Asian heavyweights is expected to continue for at least the next 15 years.

Even though China and India have been growing rapidly for the past few decades, they remain at the early stages of economic development.

As such, it looks likely that Australia’s terms of trade will be significantly higher on average over the next couple of decades than before the current mining boom.

Resource Generation, with its dominant exposure to South African coal, is poised to meet coal supply shortages as global demand increases.

In the interim…

For RES’s December 2010 half, the group recorded a loss of $3.5 million.

Resource Generation attributed the result to the loss of interest income, share-based compensation costs, Tasmanian resource assessment expenses, listing fees (on the Johannesburg Stock Exchange) and net operating expenses.

In addition to listing on the JSE over the half (providing South African investors with easier access to participate in the project), in September RES secured its first coal off-take contract with Indian-based Integrated Coal Mining.

The deal involves RES selling coal for 20 years from Boikarabelo. December also saw RES signing a second coal off-take contract with Bhushan Steel to purchase coal for 20 years.

In November, RES issued an equity placement to raise $30 million in cash to use for rail link acquisitions. This was completed in December 2010 via a share purchase plan.

Outlook

Though it is still in the development stages, RES’s Waterberg operation is looking highly prospective for coal production so it will be one of the stocks to watch in the coming months.

Resource and reserve upgrades for Waterberg were announced in October and December. Boikarabelo’s gross in-site resource base is 6.4 billion tonnes and 1.5 billion tonnes of inferred resource.

With probable reserves of 745 million tonnes, Boikarabelo (and RES’s other prospective projects) will see RES producing coal over the coming years to help meet the strong demand from Asian countries.

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White Canyon Uranium (WCU) is a Perth-based company focused on the exploration, recovery and production of uranium. The company operates in North America as White Canyon Uranium, North America and holds multiple mining claims in the uranium rich area of Southern Utah.

WCU has been in production since 2009, one of only a few companies in the United States who have moved beyond exploration and permitting and into actual production.

The company has just announced the results of the first milling of ore from its Daneros mine, which was in line with expectations.

WCU stands to benefit from recent strength in uranium prices, which have gained 12% this year so far alone.

A milestone year

The past year has been a busy one for WCU, with the group scoring many significant achievements.

Final approvals for WCU’s mine permit for the development of the Daneros Mine came in May, 2009; development of the twin decline mine commenced in June 2009 and the ore was reached in December 2009.

First ore was delivered to the White Mesa Mill at the end of 2009. In January last year the company entered a three year ore treatment agreement with Denison Mines Corp.

Mining has continued on budget and ahead of schedule: by the end of last June, around 20,000 dry tonnes of ore had been stockpiled at Denison’s White Mesa Uranium Mill in preparation for milling of up to 45,000 tonnes in 2010.

WCU has continued the process of securing future expansion through the acquisition of additional tenements within the group’s project areas. New acquisitions include the Radium King, Spook and Maybe in the Red Canyon area and the Hide Out in the Deer Flat area.

On 24 January, WCU announced the results of the first milling of ore from the Daneros mine: a total of 35,635 tonnes of ore was milled over the period November 1, 2010 through December 10, 2010.

The grade was in line with WCU’s expectations and the expense to recover the uranium was less than budgeted.

Production is continuing at the Daneros Mine and WCU have already stockpiled 9,000 tonnes of ore for the next mill run in 2011.

Upbeat on uranium

Uranium, whilst controversial, is a lucrative source of energy in a time when fears have grown about the finite resources of oil, the current weapon of choice for energy.

The outlook for nuclear power worldwide therefore remains extremely positive. Uranium price has soared over the last few months, flying from around US$42 in June last year to present prices flirting around US$70.

Uranium prices are breaking out and are already up 12% for the year so far. Increasing demand and tight supplies are pushing price higher, which is a boon for White Canyon Uranium and its uranium-focused peers.

By 2014, annual global demand of uranium is projected to approach 96 million kilograms.

This is expected to leave a 36 million kilogram deficit, which is likely to result in higher prices both for the metal and for those companies bringing uranium to the market.

Outlook

WCU has been one of the hot stocks in recent weeks, surging from around 16 cents to 20 cents.

The group is well-placed owing to strength for uranium price, which is forecast for continued growth into the future.

The group this year will receive proceeds from its first processed ore. Production is continuing at the Daneros Mine and WCU have already stockpiled 9,000 tonnes of ore for the next mill run in 2011.

Going forward, WCU will continue to seek expansion opportunities via acquisitions whilst simultaneously increasing its resource estimates as drilling and exploration continues.

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Saracen Mineral Holdings (SAR) is an Australian mid-tier gold producer. The company became a producer when production began in April from the Carosue Dam gold project, 120km north-east of Kalgoorlie in Western Australia. Current gold production is from the Porphyry and Whirling Dervish open pit mines.

SAR has only just made the leap to producer, but as its quarterly results demonstrate, the company is already delivering increasing gold production from its flagship Carosue Dam operations.

Carosue cruising along

Carosue Dam’s 2.4 million tonne per annum (mtpa) processing plant is forecast to produce approximately 100,000 to 120,000 ounces of gold in FY11.

SAR is targeting an increase in production to around 160,000 ozpa by 2015. Gold resources at Carosue stand at around 3.3 million oz while reserves stand at around 0.9 million oz.

Saracen’s Carosue Dam operations area contains a large number of known gold deposits within four separate districts (the Carosue Dam, Porphyry, Safari Bore and Red October districts).

SAR is forecasting future production from open pit mines at Karari, Enterprise, Wallbrook and Deep South, and, subject to positive feasibility study results, underground operations at Porphyry, Red October and Deep South.

Project development for a trial underground mining operation at Red October is presently underway.

Looking golden

SAR’s tenement holdings and gold deposits are located in one of the world’s most prospective gold provinces.

In excess of 23 million ounces of gold in resources have been found and/or brought into production in this province, where SAR is building a long-term strategic infrastructure and resource position.

As at 30 June 2010, SAR’s gold hedging position stood at put options bought over 154,347 oz, and call options sold over 90,810 oz, all at an exercise price of $1,250 per ounce and expiring in monthly amounts through to December 2011.

SAR is fortunate in that its commodity of choice – gold – is experiencing a “golden” run over the months, and currently sits at around US$1,400 per ounce.

As a result, Australian gold miners have been among the hot stocks this year as investors look to gain exposure surging bullion prices.

The precious metal has repeatedly hit record highs on demand from China. Even though China is currently in the midst of battling inflation, the country is buying large amounts of gold and creating demand for SAR’s services.

Pumping production

In its first full production quarter, being the quarter ended 30 June 2010, Carosue Dam operations produced 25,036 ounces of gold, from the processing of 520,214 tonnes of ore grading 1.62g/t.

Most of the ore was sourced from the Porphyry open pit mine.

Saracen’s second open pit mine, at Whirling Dervish, supplied first ore to the plant in June 2010.

For its more recent (September) quarter, gold production totalled 27,233 ounces at a cash cost of $705 per ounce.

The quarter saw gold resources increase by 8% to 3.3 million ounces and gold reserves increase to 0.9 million ounces.

SAR clocked mine operating profit (excluding hedging losses) of $11.3 million for the September quarter.

Impressively, over the quarter Saracen Mineral Holdings saw its Million Dollar operation gold resources increasing 55% to 327,000 ounces.

Drilling at Million Dollar is continuing whilst SAR is focused on an exciting broader $12 million drilling campaign, targeting numerous brownfields and greenfields targets.

Outlook

Saracen Mineral Holdings has only just made the leap to producer, but as its quarterly results demonstrate, the company is already delivering increasing gold production from its flagship Carosue Dam operations.

The company is looking at a successful future as a mid-tier gold producer, which will be boosted by the development of its various operations in the lucrative West Australian gold districts.

This bullish outlook means SAR will be one of the stocks to watch in coming months.

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Tiger Resources (TGS) is a minerals exploration company prospective for copper, cobalt, gold, platinum, palladium and uranium.

The group’s projects are located in the Democratic Republic of Congo. TGS also has a majority interest in gold exploration in the state of Amazonas in Brazil.

The company is in early stages of exploration at most of these projects, though TGS is on schedule for the start of copper production from its Kipoi project in 1Q11.

The outlook for copper is positive on a recovering global economy and demand from China.

Copper + China = Success

Though TGS explores for a number of minerals, its major interest is copper.

Last week copper prices weakened amid tensions on the Korea Peninsula and concerns over China’s monetary policy tightening measures.

The short, medium and long term outlook for copper demand from Asia is positive. China in particular is showing increased demand for metals, especially copper, of which Australia boasts bountiful resources.

Chinese copper demand is slated to continue as the region’s economy continues to grow. China’s economy expanded 9.6% in the third quarter alone.

Lucrative project placement

TGS’s operations include the Kipoi project in the central part of the Katangan Copperbelt.

The project hosts five known copper deposits, Kipoi Central, Kipoi North, Kileba, Judeira and Kaminafitwe.

TGS’s 100%-owned Sase project (part of the Lupoto permit) is just 10kms south of the Kipoi Project and the Sase Copper Project can be accessed by a road that leads directly to Kipoi.

There is potential for the high grade mineralisation to extend the life of the Stage 1 development at Kipoi Central.

Another project, Sakania, which is close to the Zambian border, occupies an area with known gold and copper occurrences.

On 25 November, TGS released significant copper results from recent soil sampling programmes. Two extensive geochemical anomalies were identified, and results indicate copper mineralisation is widespread within Lupoto.

As such, TGS has outlined new drill targets within Lupoto. The group has the cash to continue drilling, confirming cash on hand at the end of the September quarter of $26.1 million.

Conclusion

As an explorer, TGS has yet to release any meaningful financial results. However, the company is looking highly prospective owing to its exposure to copper, which is seeing increasing demand from China.

Going ahead, TGS is on schedule for the start of copper production from Kipoi in 1Q11, and given the positive outlook for copper, it will be one of the stocks to watch in coming months.

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Once simply a painting services company, Programmed Maintenance Services (PRG) has expanded into a full-scale property maintenance group.

PRG directly employs more than 11,000 staff and tradespeople across a broad range of government and private sector industries in the resources, infrastructure, education, manufacturing & logistics, commercial/retail and tourism and recreation markets.

It has also been one of the shares to sell over the past year, with its stock price tumbling from around $4.60 in October 2009, to close yesterday at $1.38.

Highlighting its woes, PRG announced yesterday that it will restructure its property services business to reverse recent under-performance.

The group cited reduced demand for its services and lower indexation revenue as the key reasons behind the restructure.

PRG advised that restructuring costs are expected to total $15.8 million.

The news saw PRG plummet over 20% on the day, putting it among the worst performers in the Australian share market. Learn more with a free trial.

Arafura Resources (ARU) is an emerging rare earths producer with its sights set on bringing its world-class Nolans Project into production in 2013.

Rare earths are essential to products in markets associated with the electronics and technology industries, energy efficiency and greenhouse gas reduction.

Nolans Bore is one of the few truly world‐class near‐term supply sources, providing ARU with the means to possess a piece of the rare earths pie.

Rare earths are creating a lot of stir at present on expectations of significant future demand. China currently produces about 97% of the world’s rare earths, and has restricted world supply over the past few years – driving up rare earth prices 310% over the first half of 2010.

ARU is in the enviable position of being an Aussie rare earths contender and the group intends to become the pre-eminent supplier of rare earths to the world.  Its fortunes have seen it become one of the stock picks of many investors.

In the background ARU is exploring for other metals, including uranium, copper and gold.

Commodities have strengthened of late on global economic recovery signs, which is a positive for ARU going forward.

Rare earthly treasure

Over the last year, there has been growing market awareness that rare earths are essential components in a range of everyday products.

These products include high-demand technological equipment such as iPods, mobile phones and LCD TV screens.

Rare-earth based new technologies are being rapidly adopted across the globe as electronic media becomes an essential part of the personal apparel and business environments

Rare earths are also used in clean energy applications, such as wind farms and hybrid cars; and in energy efficiency products, such as new generation light globes.

It is now widely recognised that there will be a significant supply shortfall for rare earths in the near term.

ARU is in the enviable position of possessing one of the few major rare earth deposits in the world: the Nolans Bore deposit in central Australia.

Nothing Boring about Nolans

The Nolans Bore deposit is a very valuable, long-life and easy to exploit resource – one which any major resources company would be proud to have.

In the last four years, ARU has made a significant investment in developing a patented chemical process to extract and recover rare earths from the Nolans Bore Mine in the Northern Territory.

In September 2010, ARU announced the selection of Whyalla in South Australia as the site for its Rare Earths Complex.

This is a major milestone in the company’s history and will allow ARU to value add to resources from its Nolans Bore deposit.

The scale of the proposed plant and associated infrastructure was recognised by the South Australian Government, which has granted Major Project status for the complex.

The project is underpinned by a world-class rare earths deposit which has sufficient resources to support mining and chemical processing operations for at least 20 years.

Annual production of 20,000 tonnes of rare earth oxides from the Whyalla Rare Earths Complex, equivalent to about 10% of the world’s supply, is on schedule to commence in 2013.

The Nolans Project means ARU will in the next few years become a long-term supplier of rare earth oxides, phosphoric acid, uranium oxide and gypsum.

The Nolans Bore deposit is currently at 30.3 million tonnes of measured, indicated and inferred resources.

Exploration focus

ARU carefully balances its priority to develop the Nolans Project with the need to deliver future growth through exploration success, as well as assessing new development opportunities.

Regions ARU are currently exploring include The Reynolds Range, which is highly prospective for the discovery of base metals and uranium.

Another focus is the Hammer Hill Project, with ARU focused on the discovery and development of copper-nickel sulphide resources.

ARU’s Kurinelli project is another region of interest. Kurinelli has not been explored before using modern exploration techniques, and it represents an outstanding opportunity to discover a new gold district.

ARU also boasts gold exposure through the Mt Porter gold project, which has a Native Title mining agreement and environmental approval from the NT and Australian governments.

ARU’s exposure to these commodities provides for an extra feather in its cap at a time when commodities are making massive gains.

Gold price has repeatedly hit record highs of late, and copper is also performing strongly with a 2% gain in price last week.

Cash position

ARU has a market capitalisation of around $284 million as of 22 September 2010.

The company has cash of $23.5 million at the end of its 30 June quarter.

In its recent annual report, ARU admitted to a loss after tax for the year of $10.1 million and a net cash outflow from operating activities of $6.5 million.

Despite the yearly profit loss, ARU has sufficient cash and assets to meet its ongoing development and exploration commitments.

ARU will raise additional funds to meet working capital requirements into the future.

Outlook

ARU specialises in a lucrative commodity: rare earths. Rare earths provide environmentally friendly solutions through an array of applications aimed at achieving energy efficiency, and in developing green technologies.

Rare earths are also in increasing demand worldwide for use in devices that are central to our modern lifestyle.

As a result, ARU has been one of the hot stocks in recent months, alongside other rare earths miners such as Lynas Corporation.

ARU’s vision is to be the pre-eminent supplier of rare earths to the world, and once Nolan production is online the company will be in the lucrative position of possessing a “green” commodity that is increasing use in modern technology.

In the background ARU is exploring for other metals, including uranium, copper and gold. Commodities have strengthened of late on global economic recovery signs, which is a positive for ARU going forward.

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Galaxy Resources (GXY) is an emerging mining and chemical company, focusing on lithium and tantalum production.

GXY has been one of the hot stocks in recent weeks, surging over 25% since its results announcement on 13 September.

On 4 October, GXY advised it was seeking to raise $30 million via a convertible note issue to a Chinese investor.

GXY stated that it intends to use the funds to invest in additional capital expenditure, and working capital requirements.

Although the Australian stock market advanced 1% that day, GXY slumped 3.5% on its capital raising plans.

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