Midwest Corporation Limited

FerrAus Limited (ASX:FRS) (PINK:FRRAF) today announced that it has appointed Mr Bryan Oliver as an Executive Director.

Murchison Metals Limited (ASX:MMX)(PINK:MUMTF) is pleased to present its financial statements for the 2009 financial year. 2009 was a year of great progress on the development of Murchison's assets, including its 50% interest in each of Crosslands Resources Ltd (Crosslands), owner of the Jack Hills iron ore project, and Oakajee Port and Rail (OPR), developer of new port and rail infrastructure to serve the mid-west mining industry.

Share markets around the world rebounded strongly on Friday as regulators took steps to shore up the financial system. The Australia sharemarket regained much of its losses last Friday, closing 4.3% higher, but still down 2% for the week.

The share market dropped almost 2% yesterday after Wall Street dropped 4% to its lowest close since the September 2001 terrorist attacks. A late rally among major banks and gains in resources stocks kept the local damage from the fall out from the Lehman Brothers collapse to a minimum. The losses were not as bad as expected but the combined losses of the past two days were significant.

Wall St closed down over 4% overnight as the US investment bank Lehman Brothers filing for bankruptcy. Yesterday, with rumours surrounding Lehman Brothers yet to be confirmed, the Australian share market finished down over 1.5 per cent. Analysts expect the Australian dollar may fall even further today with negative lead from Lehman Brothers demise and the fire sale of Merrill Lynch.

Yesterday the Australian sharemarket closed lower for the third consecutive day on concerns that Wall Street's latest banking woes would hit Australia. The four major banks deducted the most from the index with their major losses of more than 3% following Lehman Brothers' announcement overnight in New York of asset sales.
Yesterday, the benchmark S&P/ASX200 fell 91.2 points, or 1.85 per cent, to 4,814.3, while the broader All Ordinaries shed 89.9 points, or 1.81 per cent, to 4,871.5.

The Australian market has received a mixed lead, with Wall Street up while oil, gold and silver were down again. Yesterday local banks finished mixed despite heavy losses on Wall Street as the US investment bank Lehman was thought facing difficulties. Analysts said the market was volatile, heavy and irrational.

Last night Wall Street led on easing concerns about a credit crisis, but gains are likely to be tempered by declines in mining and oil companies after oil, gold and base metals prices fell.

Midwest Corporation Limited has announced an $11 million accelerated drilling program for the Weld Range Direct Shipping Iron Ore Project which will include substantial initial drilling within tenements contained in Hampton Hill Mining's Joint Venture with Midwest (Hampton JV tenements).

Midwest Corporation Limited (ASX: MIS) - Weld Range Iron Ore Project - Mr Bryan Oliver, MD; Boardroomradio is pleased to announce that Midwest Corporation Limited (ASX: MIS) has published an audio file.