Weekly Market Outlook

U.S. stocks closed sharply higher Friday to finish their best week almost two years following a stronger-than-expected manufacturing report that helped calm some doubts over the slowing recovery.

The Dow Jones Industrial Average rose 168.43 points on Friday, or 1.36 percent, to close at 12,582.77. The S&P500 gained 19.03 points, or 1.44 percent, to end at 1,339.67 and the tech-heavy Nasdaq climbed 42.51 points, or 1.53 percent, to finish at 2,816.03.

Currency markets decided to take a breather after a tumultuous week of Greek-related action. The euro was steady and the US dollar index slipped slightly to 74.30, although the Aussie Battler still posted another 0.4% gain to US$1.0769 on Australia's solid PMI.

Gold is currently bouncing around the US$1500 mark looking for direction after the easing of European fears with a lack of physical demand out of Asia threatening further downside. Gold fell US$13.10 to US$1486.50/oz on Friday and silver dropped 2.5% to US$33.80.

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Niuminco Ltd has extensive gold exploration areas at Edie Creek, which lies in the well-known Bulolo Gold Province in Papua New Guinea and adjoins the Hidden Valley gold mine operated as a joint venture between Harmony Gold Mining Co. Limited and Newcrest Mining Limited.

The Company has signed a number of farmin and joint venture agreements with Mincor Resources NL (ASX:MCR), an established ASX listed Company based in Perth.

Niuminco is raising up to $15,000,000 by the issue of up to 75,000,000 shares at 20 cents per share together with one option issued with every two new shares subscribed, exercisable at 20 cents at any time up to and including the 30 September 2012.

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