ABN Newswire Stocks to Watch: December 18, 2009

Sydney, Dec 18, 2009 AEST (ABN Newswire) - Image Resources (ASX:IMA)(PINK:IMREF) said a revised interpretation has more clearly defined drilling targets along strike from existing defined resources, following additional detailed ground magnetic surveys in the south eastern part of the Cooljarloo heavy mineral project (Image 70%). The potential to increase these resources is substantial because the total length of the targets strand lines is now 6.8km compared to the 1.1km strike length of the known mineralisation within the existing resources.

Carbon Energy Limited (ASX:CNX)(PINK:CNXAF) advised the successful close of the initial public offering for shares in Energia Minerals Limited (ASX:EMX), the vehicle established to hold Carbon Energy's uranium exploration assets. The offer, which was heavily oversubscribed, raised the maximum target of A$7.5 million through the issue of 37.5 million shares at 20c per share. Energia will have a market capitalisation of A$13.9 million at the offer price. The offer included a priority offer to Carbon Energy shareholders.

Kingsrose Mining Limited (ASX:KRM) said it will begin pre-feasibility work on a potentially very large scale Tailings Retreatment Project in one of the largest historic mining districts in Europe. Kingsrose has reached in principle agreement with the regional government of Sardinia, Italy, to commence work on multiple Zinc-Lead tailings deposits containing a target of between 70-90 million tonnes of material accumulated from over 200+ years of mining.

Bandanna Energy Limited (ASX:BND) advised that Wiggins Island Coal Export Terminal ("WICET") has announced the go-ahead for the next phase of development of the terminal at the Port of Gladstone. This follows the execution of a Framework Deed with the Queensland Government and Gladstone Ports Corporation.

Contact

Michelle Liang Asia Business News Asia Bureau Tel: +61-2-9247-4344 Email: michelle.liang@abnnewswire.net