Felix Resources Limited

The Australian sharemarket closed marginally lower in light trading yesterday as banks were down on concerns that bad debts could increase after interest rate rise. The benchmark S&P/ASX 200 index gave up 5.9 points, or 0.13 per cent, at 4670.60, while the broader All Ordinaries lost 0.19 per cent to 4686.40 points.

Dow index hit a fresh 2009 high on Friday after the earnings season kicked off. Upbeat forecasts on IT giants IBM and Intel fueled the market's growing expectations over a profit recovery. S&P's 500 and Nasdaq both gained more than 4.5 per cent for the week.

Overnight the US stocks slid over disappointing data in regional economy, as well as worries on the crucial data ahead including personal income, consumer spending, weekly jobless claims, manufacturing and home sales.

Felix Resources Ltd. (ASX:FLX) said Wednesday it plans to demerge South Australian Coal Ltd (SAC), which owns the Lake Phillipson deposit with a thermal coal resource of about 515 million metric tons, from Felix through an in specie distribution of shares in SAC.

Wall Street closed in negative territory on Friday despite a survey showed that US consumer sentiment rose to its strongest level in three months. But the Dow still surged 164 points, or 1.74 per cent, with four days rally in the week.

US stocks were lower Friday over consumer data. Commerce Department said that consumer spending rose mildly in July, while personal income was unchanged. The downbeat data of US consumer sentiment also weighed on the market.

Wall Street finished higher in choppy trade as the upbeat economic data in Europe offset the news of disappointing retail sales in US. Wal-Mart's second-quarter earnings, above analyst's expectations, also helped to lift the market.

Wall Street finished slightly lower overnight after the US stocks hit a fresh high on Friday. Investors locked in profits ahead of economic data due to release this week, including monthly retail sales figures and the Federal Reserve's statement on interest rates and the economy.

Bandanna Energy Limited (ASX:BND) is pleased to announce that it has engaged an independent consulting group to undertake a Concept Study for the development of its Arcturus Project as a potential open cut thermal mine. EPC 1221 is 100% held by Springsure Creek Coal Pty Ltd, a wholly-owned subsidiary of Bandanna.

Bandanna Energy Limited (ASX:BND) is pleased to announce that it has engaged an independent consulting group to undertake a Concept Study for the development of its Arcturus Project as a potential open cut thermal mine. EPC 1221 is 100% held by Springsure Creek Coal Pty Ltd, a wholly-owned subsidiary of Bandanna.