Modena Resources Limited

Australian Market Report of September 15, 2010 includes: A second production target for immediate development identified by Modena Resources Limited (ASX:MDA), Blaze International Limited (ASX:BLZ) has expanded its strategic footprint around BHP Billiton's (ASX:BHP) giant Yeelirrie Uranium Deposit, Pike River Coal Limited (NZE:PRC) (PINK:PKRRF) announced the appointment of Peter Whittall as Chief Executive Officer and Vital Metals (ASX:VML) has identified new gold targets at its Doulnia Gold Project, through a high resolution aeromagnetic survey.

The Australian share market declined on Wednesday as miners were lowered on China's move to tighten monetary policy, which hit commodities prices. At the close, the benchmark S&P/ASX200 index fell 31.4 points, or 0.6 per cent, at 4868.1, while the broader All Ordinaries index retreated 31.5 points, or 0.6 per cent, to 4900.1.

Australian market continued its gains on Tuesday as energy stocks had another strong day. The global markets rallied in the first trading day of this year while the upbeat manufacturing data from the United States, China and India boosted investor confidence over a global recovery in 2010. At the close, the benchmark S&P/ASX200 index surged 48 points, or 1 per cent, at 4924.3, while the broader All Ordinaries index increased 49.7 points, or 1 per cent, to 4939.5.