Essential Assets for October 15, 2014

October 15, 2014 08:19 AM

The International Council of Mining and Metals’s latest guidance document will assist mining and metals companies in meeting the demands of new marine transport regulations. In this guidance ICMM sets out the approach that leading mining and metals commodity associations have developed in collaboration with scientific experts from research institutes around the world.

Centrex Metals Limited released its quarterly activities report ending Sept 30, noting that it continues to maintain a healthy balance sheet with A$34.3 million in cash reserves, with no debt outside of current trade payables. Its metals portfolio now includes the Woolgarlo Gold Project, NSW; Gundaroo Gold Project, NSW; Kimba Gap Magnetite Project, South Australia; and Wilgerup DSO Iron Ore Project, South Australia.

Afren plc announces today that Willkie Farr & Gallagher (UK) LLP has completed its independent review into the receipt of unauthorised payments by members of management and senior employees.  In connection with the conclusion of this review, Afren has decided to terminate the employment and directorships of Osman Shahenshah and Shahid Ullah with immediate effect. 

Carnarvon Petroleum Limited is pleased to advise that drilling has recommenced with the spudding of the WBEXT-10B well, which is targeting the igneous reservoir down-dip of the WBEXT-3C,3D and 3E wells in the L44/43 and L33/43 Concessions in Thailand, in which Carnarvon holds a 20% interest. The Operator is expected to take around three weeks to complete the drilling of the first well.

Finbar Group Limited is pleased to announce details of a joint venture that will result in the acquisition and development of a site located at 63 Adelaide Terrace in East Perth. The site comprises 3,406 square metres with a 57 metre frontage to Adelaide Terrace and is situated near the corner of Plain Street in East Perth, 1.5km from the Perth Central Business District.
Finbar has also received approval from the Metro Central Joint Development Assessment Panel for the development of 269 James Street on the corner of Fitzgerald Street in Northbridge.

The Mining 2014 Resources Convention, held across the 29-30th October at the Hilton Brisbane, is gearing up to be one of the most important events for Australia’s junior and mid-cap resources companies this year with many top level executives already confirming their attendance. A host of Australian miners, including Peter Spiers, managing director of Orbis Gold; Graham Fariss, CFO and company secretary of Mincor Resources NL; and Dan Lougher, managing director & CEO of Western Areas, will be delivering company presentations.

Jacka Resources is pleased to report that a news video interview has been recorded with Chairman, Max Cozijn, in which he outlines the benefits to the company and its shareholders of the recent positive Final Investment Decision for the Aje oilfield, offshore Nigeria.

PLD Corporation Limited is pleased to advise that an initial near surface RC Drilling program has been completed at the Octagonal Nickel Prospect (formerly M19 & M20 targets) where nickel copper sulphides were previously identified. The Octagonal Nickel Prospect is located within the Rocky Gully Project, which covers a total area of approximately 1,500km2 and is located in the Albany Fraser Belt, WA.

Finbar Group Limited is pleased to advise that the Company’s Spring View Towers joint venture project has reached a stage of practical completion. The Spring View Towers development is located at 3 Homelea Court, Rivervale, bordered by Great Eastern Highway and the Graham Farmer Freeway. It signifies the gateway to the Springs development and consists of 188 one, two, and three bedroom residential apartments in two nine and 16 storey buildings with a full range of common amenities.

Potash West NL advises that it has successfully finalised a capital raising via our Lead Manager, Helmsec Global Capital. The Company initially sought to raise $2.5 million but was pleased that the issue was significantly oversubscribed with firm commitments to raise $2.9 million before costs.

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.