The S&P ASX 200 Index (ASX: XJO) was down 1.7% last week. But there were a number of companies that made great gains. Here's the top four.
Resolute Mining (ASX: RSG) +24%, $0.535:
The gold miner and explorer signed a deed of agreement with Noble Mineral Resources (ASX: NMG), which was approved on 2 December by Noble Mineral Resources' creditors. The agreement will give Resolute 100% ownership of the Bibiani Gold Project in Ghana. Between January-March 2013, the mine produced 10,283 oz. of gold.
TPG Telecom (ASX: TPG) +16%, $4.76:
TPG acquired AAPT internet service provider from Telecom Corporation of New Zealand (ASX: TEL) for $450 million, purchasing both the business and wholesale divisions. AAPT has extensive fibre-optic cable networks across six states and territories, connecting large capital cities. This will complement and facilitate TPG's further network expansion, with it currently planning the rollout of about 500,000 apartment connections with fibre-optic cable.
Medusa Mining (ASX: MML) +13%, $1.84:
The gold miner announced the start-up of its SAG mill in Mindanao, The Philippines. Production was delayed due to delayed delivery of a power cell for the mill in October. About 15,864 oz. of gold is expected to be produced monthly, but actual production levels will tell the real story.
Boart Longyear (ASX: BLY) +11%, $0.305:
Down from $1.46 a share one year ago, the mining services company will be removed from the S&P ASX 200 Index after 20 December. Its book value is $2.40 per share, giving it a price-to-book value of 0.13. It is now below its March 2009 low of $0.54. The recent weekly rise may be a sign that it is so beaten down by the market that it may become an asset play while the mining services industry plods on?
Foolish takeaway
I am particularly interested in the TPG acquisition of AAPT. As all the major ISPs are growing their networks to build up stronger customer bases, those that can deliver service and speeds that begin to approach those forecast for the NBN will have a competitive advantage. People are hungry for faster internet speeds, and with more and more content and mobile usage, large bandwidth and high speed are the two criteria that competitors will be judged by.
