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Lincoln Minerals Concludes Joint Agreement
December 31st. 2007 - Australasian Investment Review – (AIR)

Lincoln Minerals (LML) said on Monday it had concluded a joint venture agreement with Mineral Enterprises (ME) in respect to LML’s 100% owned tenement near Port Lincoln.

The tenement, Gun Flat, is located on the southern Gawler Craton, South Australia.

The agreement follows a heads of agreement signed between Mineral Enterprises and LML in August 2007.

ME has contributed $500,000 of funding in respect of the initial drilling programs at Gum Flat to reach the first ‘minimum expenditure’ milestone. The company said this was achieved following the completion of a diamond core drilling program in December 2007.

“This is an exciting development for Lincoln Minerals and will enable the Company to continue to maximise the iron ore potential of the Gum Flat Project for its investors,” managing director of Lincoln Minerals, John Parker said.The joint venture agreement provides that Mineral Enterprises will earn a 20% interest in the Gum Flag Project by contributing a further $500,000 of exploration expenditure by 31 December 2008.

Shares in LML fell 5.26% to 27 cents at 11:13AM AEST.

Agenix Receives Final Instalment Of The $10 Million Sale.

Brisbane-based biotechnology company, Agenix (AGX) has received the final instalment of the $10 million sale of its animal health business, AGEN Animal Health.

Agenix said on Monday it had received the final $1 million from IDEXX Laboratories, Inc of the United States, after receiving progressive payments following the signing of the deal in April 2006.

IDEXX paid the sum in consideration for the assignment of the patents and other intangible assets of its AGEN Animal Health business and the granting to IDEXX of an exclusive distributorship for AGEN’s animal health diagnostic products.

“Agenix has today announced that the remaining $1.0 millio has now been received, resulting from completion of final operational business transfer milestones,” the company said.

The biotech company has recently appointed a new chief executive officer, Singapore-based Stephen Phua.

Agenix plans to sell hepatitis drugs in China and develop a blood clot detector.

Shares in AGX rose 6.25% or 1 cent to 17 cents at 11:53AM AEST.

Allco Finance Launches Infrastructure Fund.

Asset manager, Allco Finance Group (AFG) rose as much as 6% to $6.11 in early morning trade on Monday after the company said it had raised $200 million for its globally diversified transport and infrastructure fund ahead of schedule.

The fund, Allco Global Transport and Infrastructure Fund, (Allco GTI) received the funding from an unnamed ‘large Australian institutional investor’.

“Allco GTI is an unlisted, wholesale fund that will invest in aviation, shipping, rail and specialised infrastructure assets that will seek to provide reliable absolute returns with a long term cash flow component,” Allco said in a statement.

“Allco is targeting total capital commitments of $350 - $450 million from a limited number of investors,” it added.

Assets include a share of five European wind farms, direct investments in three aircraft, and a share in a portfolio of 27 ships, which were originally on Allco’s balance sheet.

The Sydney based business hopes the fund will appeal investors considering Allco’s experience in transportation origination, financing and asset management. Allco says it will offer investors access to Allco’s proven and proprietary deal flow in its core asset classes.

It said the first close is expected to occur in January 2008 with a subsequent and final close expected to occur later in 2008.

The company was founded in 1979 and listed on the Australian Stock Exchange in 2001. Earlier in the year stock in AFG hit an all time high of $13.24 only to slowly fall to the current level trading around $6 mark.

Shares were trading 34 cents up at $6.10 as at 11.17AM AEST.

Copyright Australasian Investment Review.
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