Positive end to week

IT WAS a positive end to the week for the bulk of resource stocks on the Australian Securities Exchange as base metals regained strength, while Fortescue Metals Group continues to amaze with reports speculating that the iron ore hopeful may be preparing for a $A1 billion capital raising.

Reports in the Australian Financial Review said the raising would be used to fund its operations in Western Australia’s Pilbara region, with the company appointing Citigroup to lead the new fund