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Monday, August 22, 2011

Investorideas.com - Friday's Iron Ore Stocks Trading; (TSXV: ADI), (ASX:FMG), (OTCBB:TRKP), (NYSE:NEM)

Investorideas.com - Friday's Iron Ore Stocks Trading; (TSXV: ADI), (ASX:FMG), (OTCBB:TRKP), (NYSE:NEM)

Friday’s Iron Ore Stocks Trading ; (TSXV: ADI ),(ASX:FMG), (OTCBB:TRKP), (NYSE:NEM)

Fortescue (ASX:FMG) Reports Revenues of US$5,442 million; + 69%

Point Roberts WA- Aug 22, 2011 (Investorideas.com Mining Newswire) – www.Investorideas.com, a leader in sector research for investors including mining and resource stocks, issues a trading snapshot for iron ore stocks for trading August 19th.

Fortescue Metals Group Limited (ASX:FMG) reported its 2011 year results Friday with net profit surging 76 percent to $1.02 billion as a result of higher iron ore prices. The financial hi-lights included, operating revenues of US$5,442 million; + 69% and record underlying EBITDA1of US$2,815m; +119%.

TurkPower Corporation (OTCBB:TRKP) shares gained 0.030 (13.64%) to $0.25 on larger than normal volume for the stock . The stock has climbed over 8.50% in the past week. The company owns 50.09% working interest in Maksor Madencilik Sanayi Ve Ticaret Anonim Sirketi, the 100% private owner of the Kuluncak iron ore project in Turkey.

Adriana Resources Inc. (TSX. V:ADI) jumped 0.05 (5.05%) to $1.04.

GRANDE PORTAGE RESOURCES LTD. (TSX. V:GPG) ended the day with a gain of 0.010 (3.77%) at $0.275.

Newmont Mining Corporation (NYSE:NEM) gained 1.66 (2.84%) to $60.08.

Gindalbie Metals Ltd. (ASX:GBG) fell 0.020 (-3.01%) to $0.645 with more than 10.14 million shares traded hands. Last week, the company advised that the second stage of its accelerated non-renounceable entitlement offer, the Retail Entitlement Offer, has closed with a very satisfactory take-up by Eligible Retail Shareholders despite the current volatility in global financial markets.

Atlas Iron Limited (ASX:AGO) fell 0.01 (-0.42%) to $3.53. Recently, the company announced a 50% increase in DSO Reserves, to 79.3Mt at 57.8% Fe, for its North Pilbara Projects. The increase is inclusive of depletion from mining in the past 12 months.

Showcase Iron Ore Stock:
TurkPower Corporation (OTCBB:TRKP) is a Turkish-American junior mining company that is acquiring controlling ownership in an operational iron ore mine and several mining projects under development in Turkey. TurkPower's sole focus is on the booming Turkish mining industry, where it aims to become a leader in developing, operating and owning base metal mines by acquiring and consolidating operational mines with proven reserves, utilizing economies of scale to increase returns as well as developing new mining assets. TurkPower's board of directors, management team and employees have extensive experience and relations in the Turkish mining industry, as well as ongoing relations with the relevant government agencies, allowing TurkPower to participate in the major opportunities currently developing in Turkey.

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