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South Australian

Stock Exchange Index


An analysis of South Australian companies listed
on the Australian Securities Exchange
Macrh 2011 Edition 19: released April 2011


1 South Australia Stock Exchange Index Issue 18


South Australian Stock
Exchange Index
The Deloitte SA Index increased by 17.3% during the three
months to 31 March 2011, compared to an increase of 5.5%
for the previous quarter.
Santos Limited, Ramelius Resources Limited and Beach
Energy Limited provided the greatest positive contributions
to the Deloitte SA Index for the three months to 31 March
2011.
Quarterly movements
The Deloitte SA Index increased by 17.3% during the three
months to 31 March 2011 compared to the S&P/ASX 200,
which increased by 1.9% over the same period.
Six month movements
The Deloitte SA Index increased by 23.8% during the six
months to 31 March 2011 compared to the S&P/ASX 200,
which increased by 5.5% over the same period.
Twelve month movements
The Deloitte SA Index increased by 20.7% over the twelve
months to 31 March 2011 compared to the S&P/ASX 200,
which decreased by 0.8% over the same period.

David Hill
Partner
Corporate Finance

March 2011, No. 19
South Australia Stock Exchange Index
Published quarterly by Deloitte.

Brought to you by:
David Hill
Deloitte Partner
Corporate Finance
Tel. +61 (0) 8 8407 7181
e-mail: dhill@deloitte.com.au

For information regarding the Deloitte SA
Index, please contact:
Stephen Adams
Deloitte Director
Corporate Finance
Tel. +61 (0) 8 8407 7025
e-mail: stadams@deloitte.com.au

Matthew Harm
Deloitte Senior Analyst
Corporate Finance
Tel. +61 (0) 8 8407 7692
e-mail: mharm@deloitte.com.au

Adelaide office
Tel. +61 (0) 8 8407 7000
Fax. +61 (0) 8 8407 7003
www.deloitte.com.au


2 South Australia Stock Exchange Index Issue 18

Executive Summary
Welcome to the Deloitte South Australian
Stock Exchange Quarterly Index for 31
March 2011.
The Deloitte SA Index (the Index) is compiled from publicly
available information provided by the Australian Securities
Exchange Limited (ASX). The Index is based on the market
capitalisation weighted share price performance of each South
Australian listed company. The impact of dividends and capital
returns is excluded from the Index. Eighty companies are currently
included in the Index.
The Index increased by 17.3% in the 2011 March quarter,
outperforming the S&P/ASX 200, which increased by 1.9% over
the same period.
Increases
A number of companies enjoyed market capitalisation weighted
increases in their share price during the 2011 March quarter,
namely, Santos Limited (Santos), Ramelius Resources Limited
(Ramelius Resources) and Beach Energy Limited (Beach
Energy).
Santos share price increased by 18.3% in the three months to 31
March 2011. The share price increase primarily reflected positive
market sentiment following the announcement of a Final
Investment Decision being reached by the partners to the GLNG
Project on 13 January 2011.
Ramelius Resources share price increased by 36.6% during the
three months to 31 March 2011 reflecting positive market
sentiment for the company following its announcement on 17
January 2011 of an expected net profit after tax of approximately
$47 million for the six months to 31 December 2010.
Beach Energy was the third highest contributor to the increase in
the Index for the three months to 31 March 2011. The increase in
Beach Energys share price reflects positive market sentiment
following Beach Energys successful takeover of Impress Energy
Limited and the subsequent upgrade to the reserves associated
with this acquisition.
On an absolute share price performance basis, energy and
materials companies recorded the largest percentage share price
increases for the three months to 31 March 2011. The best
individual performers were Bionomics Limited, which increased
by 67.7%, Adelaide Energy Limited (60.0%) and Archer
Exploration Limited (38.2%).


3 South Australia Stock Exchange Index Issue 18

Decreases
The largest negative contributions to the Deloitte SA Index for the
2011 March quarter came from Argo Investments Limited, Hills
Industries Limited and Adelaide Brighton Limited.
The companies that recorded the largest percentage share price
decreases for the 2011 March quarter were Renaissance
Uranium Limited (-70.6%), UraniumSA Limited (-42.6%) and
Curnamona Energy Limited (-42.0%).
Industry Movements
The best performing industry sector over the three months to 31
March 2011 on a total market capitalisation basis was the energy
sector.
Initial Public Offerings, Additions and Removals
Two companies were added to the Deloitte SA Index following the
successful Initial Public Offering of MY ATM Holdings Limited
and Core Exploration Limited. MY ATM Holdings Limited
closed on 31 March 2011 17.5% below its original list price of
$0.20 per share on 13 January 2011. Core Exploration Limited
closed on 31 March 2011 2.5% below its original list price of $0.20
per share on 11 February 2011.
In addition, Austin Exploration Limited and Kibaran Nickel
Limited (formerly Kagera Nickel Limited), were removed from the
Deloitte SA Index in the 2011 March quarter as a result of the
companies changing their registered office addresses from South
Australia on 31 January 2011 and 25 February 2011, respectively.
1



























Note 1. We note that although we have only cited two new additions to the Deloitte SA Index in the three months to 31 March 2011, we have adjusted the number
and data of the companies in the Deloitte SA Index to reflect the addition of Renaissance Uranium Limited, which would otherwise have been included since
December 2010.
Table 1: Largest positive contributions to the
Deloitte SA Index in the 2011 March quarter
Company Performance
Santos Limited 9.0%
Ramelius Resources Limited 0.5%
Beach Energy Limited 0.5%
Envestra Limited 0.4%
Bionomics Limited 0.4%
Sundance Energy Australia
Limited 0.3%
Flinders Mines Limited 0.3%
Boart Longyear Limited 0.2%
Table 2: Biggest negative contributions to the
Deloitte SA Index in the 2011 March quarter
Company Performance
Argo Investments Limited (0.5%)
Hills Industries Limited (0.2%)
Adelaide Brighton Limited (0.2%)
Toro Energy Limited (0.1%)
Elders Limited (0.1%)
K & S Corporation Limited (0.1%)
UraniumSA Limited (0.1%)
Terramin Australia Limited (0.1%)
Table 3: Largest share price increases in the
2011 March quarter
Company Performance
Bionomics Limited 67.7%
Adelaide Energy Limited 60.0%
Archer Exploration Limited 38.2%
Clean Seas Tuna Limited 38.1%
Ramelius Resources Limited 33.6%
Petratherm Ltd 33.3%
Sundance Energy Australia
Limited 31.1%
Strzelecki Metals Limited 30.4%
Table 4: Biggest share price decreases in the
2011 March quarter
Company Performance
Renaissance Uranium Limited (70.6%)
UraniumSA Limited (42.6%)
Curnamona Energy Limited (42.0%)
Uranium Equities Limited (41.2%)
Lincoln Minerals Limited (40.4%)
Havilah Resources NL (39.3%)
Penrice Soda Holdings Limited (39.2%)
Toro Energy Limited (37.5%)
Note: Tables subject to rounding
Source: Deloitte analysis, ASX, Thomson
Reuters


4 South Australia Stock Exchange Index Issue 18

Market Wrap 31 March 2011
Companies listed in the Deloitte SA Index have been divided into
the categories listed in the table below for the purposes of the
quarterly market wrap.

Market capitalisation
Nano cap Less than $ 50 million
Micro cap $50 million to $300 million
Small cap $300 million to $2 billion
Mid cap $2 billion to $10 billion
Large cap $10 billion to $200 billion
Mega cap Market capitalisation of $200 billion and greater

Table 5: Major movements of market capitalisation in each category
Increases Mar-11 Dec-10 Company Name Mkt Cap % change % change
Ranking Ranking Mar-11 share market
$ million price capitalisation
Large cap 1 1 Santos Limited 13,595 18.3% 18.3%
Mid cap 3 3 Boart Longyear Limited 2,158 2.6% 2.6%
Small cap 7 8 Ramelius Resources Limited 417 33.6% 33.6%
9 9 Flinders Mines Limited 337 23.3% 23.4%
6 6 Envestra Limited 858 14.3% 14.3%
5 5 Beach Energy Limited 1,066 12.1% 12.1%
Micro cap 15 17 Bionomics Limited 166 67.7% 67.8%
24 30 Adelaide Energy Limited 55 60.0% 60.0%
20 26 Clean Seas Tuna Limited
1
70 38.1% 58.8%
10 12 Sundance Energy Australia Limited 268 31.1% 32.8%
23 25 Western Desert Resources Limited 57 29.8% 29.8%
Nano cap 25 38 Mithril Resources Limited
1
46 16.7% 86.9%
59 65 ERO Mining Limited
1
10 (23.7%) 46.9%
39 47 Renaissance Uranium Limited
1
24 (70.6%) 40.0%
51 55 Archer Exploration Limited 15 38.2% 38.2%
48 52 Petratherm Ltd 18 33.3% 33.3%

Decreases Mar-11 Dec-10 Company Name Mkt Cap % change % change
Ranking Ranking Dec-10 share market
$ million price capitalisation
Mid cap 2 2 Argo Investments Limited 3,723 (3.6%) (3.1%)
4 4 Adelaide Brighton Limited 2,045 (2.4%) (2.4%)
Small cap 8 7 Hills Industries Limited 380 (18.0%) (18.0%)
Micro cap 18 14 Toro Energy Limited 96 (37.5%) (37.5%)
21 19 Terramin Australia Limited 62 (27.1%) (22.7%)
12 10 Elders Limited 227 (13.7%) (13.7%)
14 13 K & S Corporation Limited 167 (13.2%) (13.2%)
16 16 Centrex Metals Limited 119 (4.9%) (4.9%)
Nano cap 58 48 Curnamona Energy Limited 10 (42.0%) (42.0%)
42 29 Uranium Equities Limited 21 (41.2%) (41.2%)
43 31 Penrice Soda Holdings Limited 21 (39.2%) (39.2%)
29 22 Havilah Resources NL 36 (39.3%) (39.0%)
26 21 UraniumSA Limited 42 (42.6%) (36.2%)
Source: Deloitte analysis, ASX, Thomson Reuters
Note 1: Reflects the inclusion of an equity capital raising


5 South Australia Stock Exchange Index Issue 18

Table 6: Major movements in market capitalisation for the three months ended 31 March 2011
$ million
Market Capitalisation of Deloitte SA Index as at 31 December 2010 25,090
Net new SA additions/removals 2011 March quarter 12

Major increases Santos Limited 2,100
( > +$20 million) Beach Energy Limited 115
Envestra Limited 107
Ramelius Resources Limited 105
Bionomics Limited 67
Sundance Energy Australia Limited 66
Flinders Mines Limited 64
Boart Longyear Limited 55
Clean Seas Tuna Limited 26
Novarise Renewable Resources International Limited 22
Mithril Resources Limited 21
Adelaide Energy Limited 20

Major decreases Argo Investments Limited (120)
( < -$20 million) Hills Industries Limited (83)
Toro Energy Limited (58)
Adelaide Brighton Limited (51)
Elders Limited (36)
K & S Corporation Limited (25)
UraniumSA Limited (24)
Havilah Resources NL (23)

Other movements (net) (36)
Total increase/(decrease) 2,326
Market Capitalisation of Deloitte SA Index as at 31 March 2011 27,416
Source: Deloitte analysis, ASX
Table 7: Market capitalisation by industry as at 31 March 2011
Industry Number of 31-Mar-11 31-Dec-10
$ Mvt
Quarter
% of
index % change % change % change
companies $ million $ million $ million last quarter 6 months 12 months
Automobile & Components - - - - - - - -
Banks - - - - - - - -
Capital Goods 9 2,817 2,819 (2) 10.3% (0.1%) 23.9% 21.9%
Consumer Durables & Apparel 3 37 31 6 0.1% 19.4% 43.7% (15.5%)
Diversified Financials 2 3,746 3,866 (120) 13.7% (3.1%) 4.8% (6.9%)
Energy 15 15,295 13,083 2,212 55.8% 16.9% 29.6% 14.3%
Food & Staples Retailing - - - - - - - -
Food Beverage & Tobacco 6 345 362 (17) 1.3% (4.8%) (4.1%) (49.5%)
Health Care Equipment & Services 4 57 61 (4) 0.2% (6.2%) (12.9%) 49.3%
Materials 29 3,566 3,454 111 13.0% 3.2% 6.6% 29.5%
Pharmaceuticals, Biotechnology &
Life Sciences 2 169 102 67 0.6% 65.8% 86.2% 53.9%
Real Estate 2 19 19 (0) 0.1% (2.6%) 36.5% 34.5%
Retailing - - - - - - (100.0%) (100.0%)
Semiconductors & Semiconductor
Equipment 1 73 74 (1) 0.3% (1.5%) 39.7% 86.6%
Software & Services 2 13 14 (1) 0.0% (6.5%) (17.6%) (48.6%)
Technology Hardware &
Equipment 3 254 260 (7) 0.9% (2.6%) (18.2%) 5.4%
Transportation 1 167 193 (25) 0.6% (13.2%) (18.7%) (19.9%)
Utilities 1 858 751 107 3.1% 14.3% 21.3% 24.9%
TOTAL 80 27,416 25,090 2,326 100.0% 9.3% 19.5% 11.2%


6 South Australia Stock Exchange Index Issue 18

South Australias share
price performance
Figure 1: Monthly performance to 31 March 2011, top eight
gains

Figure 2: Quarterly performance to 31 March 2011, top eight
gains

Figure 3: Yearly performance to 31 March 2011, top eight
gains
Source: Deloitte analysis, ASX
0% 10% 20% 30% 40% 50% 60% 70%
Archer Exploration Limited
Agricultural Land Trust
Petratherm Ltd
Western Desert Resources
Limited
Ramelius Resources Limited
Scantech Limited
Bionomics Limited
Thor Mining PLC
0% 10% 20% 30% 40% 50% 60% 70% 80%
Strzelecki Metals Limited
Sundance Energy Australia
Limited
Petratherm Ltd
Ramelius Resources Limited
Clean Seas Tuna Limited
Archer Exploration Limited
Adelaide Energy Limited
Bionomics Limited
0% 100% 200% 300% 400% 500% 600% 700%
Phoenix Copper Limited
Stuart Petroleum Limited
Legend Corporation Limited
Mesbon China Nylon Limited
Earth Heat Resources Ltd
Ramelius Resources Limited
Thor Mining PLC
Sundance Energy Australia
Limited


7 South Australia Stock Exchange Index Issue 18

Figure 4: Monthly performance to 31 March 2011, bottom eight

Figure 5: Quarterly performance to 31 March 2011, bottom
eight

Figure 6: Yearly performance to 31 March 2011, bottom eight

Source: Deloitte analysis, ASX

(50%) (45%) (40%) (35%) (30%) (25%) (20%) (15%) (10%) (5%) 0%
Renaissance Uranium Limited
UraniumSA Limited
Uranium Equities Limited
Marathon Resources Limited
Uranium Exploration Australia Limited
Toro Energy Limited
Curnamona Energy Limited
MY ATM Holdings Limited
(80%) (70%) (60%) (50%) (40%) (30%) (20%) (10%) 0%
Renaissance Uranium Limited
UraniumSA Limited
Curnamona Energy Limited
Uranium Equities Limited
Lincoln Minerals Limited
Havilah Resources NL
Penrice Soda Holdings Limited
Toro Energy Limited
(90%) (80%) (70%) (60%) (50%) (40%) (30%) (20%) (10%) 0%
Adelaide Managed Funds Asset Backed Yield Trust
Island Sky Australia Limited
Penrice Soda Holdings Limited
Thomas Bryson International Limited
Papyrus Limited
Geothermal Resources Limited
Elders Limited
Lincoln Minerals Limited


8 South Australia Stock Exchange Index Issue 18

Comparison of the Deloitte SA Index
and the S&P/ASX 200 Index
The Deloitte SA Index outperformed the S&P/ASX 200 Index during the three months to 31 March
2011, the latter increasing by 1.9% compared to the Deloitte SA Index, which increased by 17.3% over
this period.
The largest positive contributions to the Deloitte SA Index for the three months to 31 March 2011
came from Santos (9.0%), Ramelius Resources (0.5%) and Beach Energy (0.5%). The largest
negative contributions to the Deloitte SA Index for the same three month period came from Argo
Investments Limited (-0.5%), Hills Industries Limited (-0.2%) and Adelaide Brighton Limited
(-0.2%).
For the six months to 31 March 2011, the Deloitte SA Index outperformed the S&P/ASX 200, recording
an increase of 23.8% compared to an increase of 5.5% for the S&P/ASX 200.
For the twelve months to 31 March 2011, the Deloitte SA Index outperformed the S&P/ASX 200,
recording an increase of 20.7% compared with a decrease of 0.8% for the S&P/ASX 200.
Table 8: Percentage change in major indices
Last 12 Last Six Last Two Three Four Five
Index Name months months month months months months months
Deloitte SA Index 20.7% 23.8% 9.4% 14.4% 17.3% 26.8% 25.0%
S&P/ASX 200 (0.8%) 5.5% 0.1% 1.7% 1.9% 5.5% 3.8%
Source: Deloitte analysis, ASX, Thomson Reuters
Figure 7: Percentage change to 31 March 2011: Deloitte SA Index vs S&P/ASX 200 index

Source: Deloitte analysis, ASX, Thomson Reuters
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Deloitte SA Index S&P/ASX 200
Base=1 as at 30 June 2005


9 South Australia Stock Exchange Index Issue 18

Companies included in the Deloitte SA
Index as at 31 March 2011
Table 9: Constituents of the Deloitte SA Index ranked by share price performance during the 2011 March
quarter
Rank Code Company
Share
price
Share
price Change Change High Low
31-Mar-11 31-Dec-10 $ price $ price
$ $ $ % Year Year
1 BNO Bionomics Limited 0.52 0.31 0.21 67.7% 0.54 0.24
2 ADE Adelaide Energy Limited 0.16 0.10 0.06 60.0% 0.18 0.06
3 AXE Archer Exploration Limited 0.24 0.17 0.07 38.2% 0.32 0.09
4 CSS Clean Seas Tuna Limited 0.15 0.11 0.04 38.1% 0.19 0.08
5 RMS Ramelius Resources Limited 1.43 1.07 0.36 33.6% 1.46 0.36
6 PTR Petratherm Ltd 0.14 0.11 0.04 33.3% 0.26 0.10
7 SEA Sundance Energy Australia Limited 0.97 0.74 0.23 31.1% 1.10 0.12
8 STZ Strzelecki Metals Limited 0.03 0.02 0.01 30.4% 0.05 0.01
9 WDR Western Desert Resources Limited 0.37 0.29 0.09 29.8% 0.61 0.26
10 MES Mesbon China Nylon Limited 0.20 0.16 0.05 29.0% 0.24 0.09
11 SAU Southern Gold Limited 0.09 0.07 0.02 27.9% 0.13 0.07
12 AJJ
Asian Centre For Liver Diseases And
Transplantation Limited 0.14 0.11 0.03 27.3% 0.16 0.04
13 ISK Island Sky Australia Limited 0.01 0.01 0.00 27.3% 0.10 0.01
14 NOE
Novarise Renewable Resources
International Limited 0.28 0.23 0.06 24.4% 0.33 0.15
15 FMS Flinders Mines Limited 0.19 0.15 0.04 23.3% 0.23 0.08
16 THR Thor Mining PLC 0.07 0.05 0.01 20.4% 0.08 0.01
17 STO Santos Limited 15.55 13.15 2.40 18.3% 15.70 11.24
18 STU Stuart Petroleum Limited 0.91 0.78 0.13 16.7% 1.04 0.36
19 MTH Mithril Resources Limited 0.21 0.18 0.03 16.7% 0.23 0.11
20 EHR Earth Heat Resources Ltd 0.06 0.05 0.01 14.6% 0.10 0.01
21 MOX Monax Mining Limited 0.07 0.06 0.01 14.5% 0.13 0.05
22 ENV Envestra Limited 0.60 0.53 0.08 14.3% 0.64 0.48
23 BPT Beach Energy Limited 0.97 0.87 0.11 12.1% 0.98 0.60
24 GLG Gerard Lighting Group Limited 0.95 0.87 0.08 9.2% 1.00 0.80
25 CNR Coonawarra Australia Property Trust 0.07 0.06 0.01 8.3% 0.09 0.06
26 CYS Chrysalis Resources Limited 0.20 0.19 0.02 8.1% 0.38 0.12
27 BLY Boart Longyear Limited 4.68 4.56 0.12 2.6% 4.93 2.43
28 EAL E & A Limited 0.21 0.20 0.00 2.5% 0.34 0.17
29 MEU Marmota Energy Limited 0.09 0.09 - - 0.12 0.06
30 TBI Thomas Bryson International Limited 0.10 0.10 - - 0.42 0.10
31 TWT TWT Group Limited 0.06 0.06 - - 0.14 0.05
32 ARR Arasor International 0.02 0.02 - - 0.02 0.02
33 MWR MGM Wireless Limited 0.01 0.01 - - 0.01 0.01
34 CKP
Cheviot Kirribilly Vineyard Property
Group 0.13 0.13 - - 0.24 0.13
35 LGD Legend Corporation Limited 0.34 0.34 (0.01) (1.5%) 0.39 0.16
36 CDA Codan Limited 1.46 1.48 (0.02) (1.7%) 1.83 1.15
37 MEP Minotaur Exploration Ltd 0.27 0.28 (0.01) (1.8%) 0.38 0.17
38 SHR John Shearer (Holdings) Limited 2.50 2.55 (0.05) (2.0%) 3.00 2.50
39 AYT
Adelaide Managed Funds Asset
Backed Yield Trust 0.25 0.25 (0.01) (2.0%) 0.30 0.15
40 ABC Adelaide Brighton Limited 3.22 3.30 (0.08) (2.4%) 3.69 2.47



10 South Australia Stock Exchange Index Issue 18



Table 9: Constituents of the Deloitte SA Index ranked by share price performance during the 2011 March
quarter (continued)
Rank Code Company
Share
price
Share
price Change Change High Low
31-Mar-11 31-Dec-10 $ price $ price
$ $ $ % Year Year
41 AYX Austofix Group Limited 0.58 0.60 (0.02) (3.3%) 1.05 0.58
42 OUM Outback Metals Ltd 0.03 0.03 (0.00) (3.6%) 0.04 0.02
43 ARG Argo Investments Limited 6.09 6.32 (0.23) (3.6%) 6.60 5.51
44 CXM Centrex Metals Limited 0.39 0.41 (0.02) (4.9%) 0.52 0.35
45 AGJ Agricultural Land Trust 0.18 0.19 (0.01) (5.3%) 0.19 0.13
46 LBT LBT Innovations Limited 0.06 0.07 (0.00) (6.2%) 0.11 0.06
47 SCD Scantech Limited 0.38 0.41 (0.03) (7.3%) 0.41 0.20
48 PRO Prophecy International Holdings Limited 0.25 0.27 (0.02) (7.4%) 0.48 0.23
49 GHT Geothermal Resources Limited 0.09 0.10 (0.01) (8.0%) 0.29 0.09
50 MXR Maximus Resources Limited 0.02 0.02 (0.00) (9.5%) 0.03 0.01
51 AVG Australian Vintage Limited 0.31 0.35 (0.04) (11.4%) 0.46 0.20
52 ADN Adelaide Resources Limited 0.17 0.19 (0.03) (13.2%) 0.27 0.13
53 KSC K & S Corporation Limited 1.95 2.24 (0.30) (13.2%) 2.84 1.95
54 ELD Elders Limited 0.51 0.59 (0.08) (13.7%) 1.41 0.32
55 PHW Prince Hill Wines Limited 0.01 0.01 (0.00) (14.3%) 0.01 0.01
56 KOV Korvest Limited 3.96 4.65 (0.69) (14.8%) 5.52 3.92
57 BNV Brand New Vintage Limited 0.02 0.02 (0.00) (15.0%) 0.04 0.01
58 SNE Somerton Energy Limited 0.14 0.16 (0.03) (15.6%) 0.31 0.11
59 UXA Uranium Exploration Australia Limited 0.03 0.04 (0.01) (15.8%) 0.07 0.03
60 MTN Marathon Resources Limited 0.40 0.48 (0.08) (16.7%) 0.79 0.26
61 HIL Hills Industries Limited 1.53 1.87 (0.34) (18.0%) 2.93 1.37
62 SYS Syngas Limited 0.02 0.02 (0.00) (19.0%) 0.06 0.01
63 ERO ERO Mining Limited 0.03 0.04 (0.01) (23.7%) 0.07 0.02
64 PNX Phoenix Copper Limited 0.28 0.38 (0.10) (26.3%) 0.40 0.13
65 TZN Terramin Australia Limited 0.35 0.48 (0.13) (27.1%) 0.84 0.34
66 RCM Reclaim Industries Limited 0.04 0.06 (0.02) (27.3%) 0.06 0.02
67 DGI Digislide Holdings Limited 0.14 0.20 (0.06) (28.2%) 0.25 0.07
68 LSN Lawson Gold Limited 0.18 0.25 (0.08) (30.0%) 0.30 0.18
69 PPY Papyrus Limited 0.10 0.15 (0.05) (33.3%) 0.43 0.10
70 ELX Ellex Medical Lasers Limited 0.20 0.31 (0.11) (34.4%) 0.37 0.11
71 TOE Toro Energy Limited 0.10 0.16 (0.06) (37.5%) 0.18 0.06
72 PSH Penrice Soda Holdings Limited 0.23 0.37 (0.15) (39.2%) 0.80 0.21
73 HAV Havilah Resources NL 0.44 0.73 (0.29) (39.3%) 0.85 0.33
74 LML Lincoln Minerals Limited 0.14 0.24 (0.10) (40.4%) 0.41 0.13
75 UEQ Uranium Equities Limited 0.10 0.17 (0.07) (41.2%) 0.20 0.07
76 CUY Curnamona Energy Limited 0.15 0.25 (0.11) (42.0%) 0.29 0.13
77 USA UraniumSA Limited 0.29 0.51 (0.22) (42.6%) 0.70 0.14
78 RNU Renaissance Uranium Limited 0.10 0.34 (0.24) (70.6%) 0.21 0.10
79 MYA MY ATM Holdings Limited 0.17 - 0.17 n/a 0.35 0.14
80 CXO Core Exploration Ltd 0.20 - 0.20 n/a 0.25 0.16
Source: Deloitte analysis, ASX, Thomson Reuters



11 South Australia Stock Exchange Index Issue 18

Table 10: Constituents of the Deloitte SA Index ranked by market capitalisation as at 31 March 2011
This
Quarter
Last
Quarter Code Company
Market
cap
Market
cap Change Change Last High Low
31-Mar-11 31-Dec-10 $ price $ price $ price
$ million $ million $ million % Month Year Year
1 1 STO Santos Limited 13,594.5 11,494.3 2,100.2 18.3% 15.55 15.70 11.24
2 2 ARG Argo Investments Limited 3,722.5 3,842.1 (119.6) (3.1%) 6.09 6.60 5.51
3 3 BLY Boart Longyear Limited 2,158.2 2,102.9 55.3 2.6% 4.68 4.93 2.43
4 4 ABC Adelaide Brighton Limited 2,045.1 2,095.9 (50.8) (2.4%) 3.22 3.69 2.47
5 5 BPT Beach Energy Limited 1,066.1 950.7 115.4 12.1% 0.97 0.98 0.60
6 6 ENV Envestra Limited 858.2 751.0 107.3 14.3% 0.60 0.64 0.48
7 8 RMS Ramelius Resources Limited 416.6 311.7 104.9 33.6% 1.43 1.46 0.36
8 7 HIL Hills Industries Limited 380.5 463.8 (83.3) (18.0%) 1.53 2.93 1.37
9 9 FMS Flinders Mines Limited 336.8 273.0 63.8 23.4% 0.19 0.23 0.08
10 12 SEA
Sundance Energy Australia
Limited 268.4 202.1 66.4 32.8% 0.97 1.10 0.12
11 11 CDA Codan Limited 238.8 242.9 (4.1) (1.7%) 1.46 1.83 1.15
12 10 ELD Elders Limited 226.5 262.4 (35.9) (13.7%) 0.51 1.41 0.32
13 15 GLG Gerard Lighting Group Limited 168.2 154.0 14.2 9.2% 0.95 1.00 0.80
14 13 KSC K & S Corporation Limited 167.4 192.8 (25.4) (13.2%) 1.95 2.84 1.95
15 17 BNO Bionomics Limited 165.7 98.7 67.0 67.8% 0.52 0.54 0.24
16 16 CXM Centrex Metals Limited 119.5 125.7 (6.2) (4.9%) 0.39 0.52 0.35
17 18 NOE
Novarise Renewable Resources
International Limited 111.8 89.8 22.0 24.4% 0.28 0.33 0.15
18 14 TOE Toro Energy Limited 96.5 154.4 (57.9) (37.5%) 0.10 0.18 0.06
19 20 LGD Legend Corporation Limited 72.7 73.8 (1.1) (1.5%) 0.34 0.39 0.16
20 26 CSS Clean Seas Tuna Limited 69.7 43.9 25.8 58.8% 0.15 0.19 0.08
21 19 TZN Terramin Australia Limited 62.1 80.3 (18.3) (22.7%) 0.35 0.84 0.34
22 23 STU Stuart Petroleum Limited 61.2 52.3 8.9 17.0% 0.91 1.04 0.36
23 25 WDR
Western Desert Resources
Limited 57.2 44.1 13.1 29.8% 0.37 0.61 0.26
24 30 ADE Adelaide Energy Limited 54.6 34.1 20.5 60.0% 0.16 0.18 0.06
25 38 MTH Mithril Resources Limited 46.1 24.7 21.4 86.9% 0.21 0.23 0.11
26 21 USA UraniumSA Limited 42.4 66.4 (24.0) (36.2%) 0.29 0.70 0.14
27 24 AVG Australian Vintage Limited 39.1 45.0 (5.9) (13.1%) 0.31 0.46 0.20
28 28 MTN Marathon Resources Limited 36.9 37.0 (0.1) (0.3%) 0.40 0.79 0.26
29 22 HAV Havilah Resources NL 36.3 59.4 (23.2) (39.0%) 0.44 0.85 0.33
30 27 KOV Korvest Limited 34.6 40.4 (5.7) (14.2%) 3.96 5.52 3.92
31 35 EHR Earth Heat Resources Ltd 31.1 26.1 5.0 19.2% 0.06 0.10 0.01
32 33 SHR John Shearer (Holdings) Limited 30.8 31.5 (0.6) (2.0%) 2.50 3.00 2.50
33 40 THR Thor Mining PLC 28.6 23.7 4.9 20.9% 0.07 0.08 0.01
34 43 MES Mesbon China Nylon Limited 27.0 21.0 6.1 29.0% 0.20 0.24 0.09
35 44 AJJ
Asian Centre For Liver Diseases
And Transplantation Limited 26.4 20.7 5.7 27.3% 0.14 0.16 0.04
36 32 PNX Phoenix Copper Limited 26.0 32.6 (6.6) (20.2%) 0.28 0.40 0.13
37 37 MEP Minotaur Exploration Ltd 25.0 25.5 (0.5) (1.8%) 0.27 0.38 0.17
38 39 ADN Adelaide Resources Limited 23.9 24.3 (0.4) (1.7%) 0.17 0.27 0.13
39 47 RNU Renaissance Uranium Limited 23.7 16.9 6.8 40.0% 0.10 0.21 0.10
40 41 AYT
Adelaide Managed Funds Asset
Backed Yield Trust 23.1 23.5 (0.5) (2.0%) 0.25 0.30 0.15
41 49 SAU Southern Gold Limited 21.1 16.5 4.6 27.9% 0.09 0.13 0.07
42 29 UEQ Uranium Equities Limited 21.0 35.7 (14.7) (41.2%) 0.10 0.20 0.07
43 31 PSH Penrice Soda Holdings Limited 20.6 33.8 (13.2) (39.2%) 0.23 0.80 0.21
44 45 EAL E & A Limited 19.8 19.3 0.5 2.5% 0.21 0.34 0.17
45 42 SNE Somerton Energy Limited 19.1 23.3 (4.2) (18.0%) 0.14 0.31 0.11
46 34 LML Lincoln Minerals Limited 18.7 27.5 (8.8) (31.9%) 0.14 0.41 0.13
47 - MYA MY ATM Holdings Limited 18.7 - 18.7 - 0.17 0.35 0.14
48 52 PTR Petratherm Ltd 17.7 13.3 4.4 33.3% 0.14 0.26 0.10



12 South Australia Stock Exchange Index Issue 18

Table 10: Constituents of the Deloitte SA Index ranked by market capitalisation as at 31 March 2011
(continued)
This
Quarter
Last
Quarter Code Company
Market
cap
Market
cap Change Change Last High Low
31-Mar-11 31-Dec-10 $ price $ price $ price
$ million $ million $ million % Month Year Year
49 46 AGJ Agricultural Land Trust 17.0 17.5 (0.5) (2.8%) 0.18 0.19 0.13
50 36 ELX Ellex Medical Lasers Limited 17.0 25.9 (8.9) (34.4%) 0.20 0.37 0.11
51 55 AXE Archer Exploration Limited 15.1 11.0 4.2 38.2% 0.24 0.32 0.09
52 51 MEU Marmota Energy Limited 14.0 14.0 0.0 0.0% 0.09 0.12 0.06
53 53 PRO
Prophecy International Holdings
Limited 11.8 12.7 (0.9) (7.4%) 0.25 0.48 0.23
54 50 PPY Papyrus Limited 11.0 14.5 (3.5) (24.4%) 0.10 0.43 0.10
55 59 STZ Strzelecki Metals Limited 10.8 8.3 2.5 30.4% 0.03 0.05 0.01
56 57 MOX Monax Mining Limited 10.5 9.2 1.3 14.5% 0.07 0.13 0.05
57 54 UXA
Uranium Exploration Australia
Limited 10.0 11.9 (1.9) (15.8%) 0.03 0.07 0.03
58 48 CUY Curnamona Energy Limited 9.6 16.5 (6.9) (42.0%) 0.15 0.29 0.13
59 65 ERO ERO Mining Limited 9.6 6.5 3.1 46.9% 0.03 0.07 0.02
60 58 CYS Chrysalis Resources Limited 9.0 8.3 0.7 8.1% 0.20 0.38 0.12
61 56 DGI Digislide Holdings Limited 8.2 10.3 (2.1) (20.6%) 0.14 0.25 0.07
62 - CXO Core Exploration Ltd 8.1 - 8.1 - 0.20 0.25 0.16
63 61 AYX Austofix Group Limited 7.6 7.7 (0.1) (1.7%) 0.58 1.05 0.58
64 64 TBI
Thomas Bryson International
Limited 6.9 6.9 - - 0.10 0.42 0.10
65 62 SCD Scantech Limited 6.7 7.2 (0.5) (7.3%) 0.38 0.41 0.20
66 67 OUM Outback Metals Ltd 6.3 6.5 (0.2) (3.6%) 0.03 0.04 0.02
67 68 LBT LBT Innovations Limited 6.1 6.5 (0.4) (6.2%) 0.06 0.11 0.06
68 63 BNV Brand New Vintage Limited 6.0 7.0 (1.1) (15.0%) 0.02 0.04 0.01
69 69 MXR Maximus Resources Limited 5.7 6.3 (0.6) (9.5%) 0.02 0.03 0.01
70 72 SYS Syngas Limited 4.8 5.2 (0.4) (6.9%) 0.02 0.06 0.01
71 71 RCM Reclaim Industries Limited 4.5 5.6 (1.0) (18.4%) 0.04 0.06 0.02
72 70 LSN Lawson Gold Limited 4.4 6.2 (1.9) (30.0%) 0.18 0.30 0.18
73 74 TWT TWT Group Limited 3.5 3.5 - - 0.06 0.14 0.05
74 73 GHT Geothermal Resources Limited 3.3 3.6 (0.3) (8.0%) 0.09 0.29 0.09
75 75 ARR Arasor International 3.1 3.1 - - 0.02 0.02 0.02
76 76 PHW Prince Hill Wines Limited 2.1 2.5 (0.4) (14.3%) 0.01 0.01 0.01
77 79 ISK Island Sky Australia Limited 2.0 1.6 0.4 27.3% 0.01 0.10 0.01
78 77 MWR MGM Wireless Limited 1.7 1.7 - - 0.01 0.01 0.01
79 78 CKP
Cheviot Kirribilly Vineyard Property
Group 1.7 1.7 - - 0.13 0.24 0.13
80 80 CNR
Coonawarra Australia Property
Trust 1.1 1.1 0.1 8.3% 0.07 0.09 0.06
Source: Deloitte analysis, ASX, Thomson Reuters



13 South Australia Stock Exchange Index Issue 18

Deloitte Corporate Finance

Compilation of the Deloitte SA Index
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14 South Australia Stock Exchange Index Issue 18

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