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Chalpat Sonti
July 7, 2009 – 9:15AM

Spectacular gains by some of WA’s best and least well known companies have contributed to the value of the state’s publicly-listed companies surging $6.7 billion.

Research by Deloitte shows the value of WA’s top 100 ASX-listed companies rose 5.9 per cent in June, the fifth straight month of increases.

Those gains have meant the value of the companies has grown from a low of $72.4 billion, at the depth of the market in November last year, to $11.8.6 billion on June 30, representing a gain of 64 per cent.

Most of the gains for June were driven by the mining sector, Deloitte Perth managing director Keith Jones said.

There were substantial rises from Fortescue Metals Group (44.7 per cent), Red Fork Energy (76.2 per cent) and Mantra Resources (41.5 per cent).

While iron ore producer Fortescue is a household name, Red Fork and Mantra, a US-focused oil and gas explorer and African minerals explorer respectively, are not.

They rank 82nd and 36th respectively on the top 100 list, but their share prices have been buoyed by some promising announcements.

It was a mixed June for WA’s two largest public companies, Woodside and Wesfarmers. Woodside’s market capitalisation dropped $100 million, or 0.3 per cent, during the month while Wesfarmers’ value rose $1.3 billion, or 6.2 per cent.

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