Meridian Minerals Ltd

Australian Market Report of February 18, 2011 includes: YTC Resources Limited (ASX:YTC) announced further strong drill results from the northern section of the Nymagee Copper Deposit; Meridian Minerals Limited (ASX:MII) has signed a non-binding Heads of Agreement to acquire a 75% interest in the non-alluvial assets of Russian gold company ZAO ZRK Omchak; Peninsula Energy Limited (ASX:PEN) confirmed high grade uranium resource in South Africa; Hot Rock Limited (ASX:HRL) commences its first major exploration program at two geothermal projects in Chile.

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.