Essential Assets for October 6, 2014

October 6, 2014 07:43 AM

Ausdrill subsidiary Energy Drilling Australia (EDA) has won a contract extension to deliver a program of exploration drilling for Strike Energy in South Australia’s Cooper Basin. During the three month program, EDA will utilise a Schramm T200XD drill rig to explore for oil and gas in an area near Moomba. This rig has just been released from a successful drilling campaign with Senex in the same area.

The results of a new survey suggests that reports of the death of the Australian oil and gas industry appear to have been greatly exaggerated, especially on the back of the recent string of major oil and gas discoveries in the country. The survey, undertaken on behalf of the organisers of Australia’s largest oil and gas event - the Australasian Oil & Gas Exhibition and Conference (AOG) - found that while the local oil and gas industry may be sliding off its record breaking peak of construction expenditure there was a still a significant amount of activity forecast to keep driving the industry ahead for many years to come.

BC Iron Limited wishes to advise it has declared its recommended off-market takeover offer for Iron Ore Holdings Limited (IOH) free of all remaining defeating conditions. IOH shareholders who have accepted the Offer will now be issued their consideration within 10 business days.

Nkwe Platinum Limited advises the following in respect of its interest in the two farms forming the Tubatse Project, Eerste Geluk 327KT and Nooitverwacht 324KT (in which Nkwe Platinum had a 64% indirect interest). The propsecting rights to these farms have, over a long period of time, been subject to numerous applications to both administrative and legal bodies in South Africa. In 2011, a Constitutional Court set aside the prospecting right to these farms previously held by Genorah Resources Ltd in partnership with the local communities to the Department of Mineral Resources. Following an application and subsequent review of this application, the prospecting rights to both farms were then issued by the DMR back to Nkwe Platinumís BE partner Genorah in partnership with the local communities. This award was subsequently subject to legal challenge and the full court of the Supreme Court has now set aside the award, resulting in Nkwe Platinum losing its indirect interest in the farms.

Blackham Resources Limited is pleased to provide an update of recent exploration drilling results received from the Brother’s Reef gold deposit, with shallow oxide mineralisation recorded over widths that are likely to be amenable to open pit mining.  Brothers and Republic quartz reefs have been evaluated for their potential to host high-grade free-milling gold resources that could be mined via open-pit or underground, as underground mine development is already in place on the adjacent Golden Age reef.

Australia Minerals and Mining Group Limited is pleased to provide further detail of its proposed process plant design targeting 3,000 tonnes per annum (tpa) high purity alumina (HPA) operation. The Company has previously reported that laboratory test work afforded the successful production of HPA at 4N (99.99%) quality. The Company recently announced the commencement of a Bankable Feasibility Study (BFS) with a target production capacity that would position the Company as one of the top three HPA producers in the world.

About the Author

Skylar Zhang is an undergraduate student at Northwestern University's Medill School of Journalism, focusing on magazine journalism. She is also majoring in economics. She is currently an intern for Futures magazine. In her free time, she enjoys writing, taking pictures, and beating her engineering friends at math.