Essential Assets for November 10

November 10, 2014 09:18 AM

Altona Mining Limited is pleased to announce a recently completed programme of RC drilling at the Turkey Creek deposit has significantly increased the size of this new copper deposit at the Company’s 100% owned Cloncurry Copper Project near Mt Isa in Queensland.

St George Mining Limited is pleased to report that it has continued its drilling success at East Laverton with thick intervals of ultramafic and nickel sulphides intersected in the second nickel drill hole completed under the Phase 2 drilling programme. The hole, WINRC005, was drilled at the Windsor nickel sulphide prospect at the Company’s 100% owned East Laverton Property in Western Australia.

Australia Minerals and Mining Group Limited is pleased to announce it has appointed the Bankable Feasibility Study team for the development of its high purity alumina (HPA) project targeting 3,000tpa operation. The BFS team is composed of reputable and dynamic experts in the fields of mine design, beneficiation, chemical processing, plant engineering and environmental management. Continuous pilot plant test work to optimise and de-risk the project will be conducted as part of the BFS.

Excelsior Gold is pleased to advise an upgrade of resources at its 100% owned Bulletin South deposit, which now supports the potential for a substantially larger open pit mining development. The Bulletin Area lies in the south-west of the Kalgoorlie North Project tenements. The new resource represents a 25% increase in contained ounces and now stands at 729,700 tonnes @ 1.98g/t Au for 46,500 ounces at 0.6g/t Au lower cut-off.

Cazaly Resources Limited has conducted first pass reconnaissance field work on recently granted tenements E80/4808 and E80/4812, the McKenzie Springs project, located in the Kimberley region of Western Australia.

Cardinal Resources Limited advises that assay results from recent drilling confirm high‐grade down dip intersections of the main and second sub‐parallel zones of gold mineralisation at the Namdini Mining Licence located within Cardinal’s Bolgatanga.

Ausdrill Limited announces that Mr Wal King has resigned as an independent non-executive director, Deputy Chairman and member of the remuneration committee of the Company with effect from today. Mr King has decided to focus on his other Board commitments.

PLD Corporation Limited is pleased to announce it has signed an Option Agreement to acquire the Admiral Bay Project, considered one of the world’s more significant undeveloped zinc deposits, located in the Canning Basin, Western Australia.

Blackham Resources Limited is pleased to announce that it has received equity commitments for $3.15 million at 11.5 cents per fully paid ordinary share in the capital of the Company. The Company has subscriptions for $450,000 through a placement of 3.91 million shares at 11.5 cents per Shares to sophisticated and professional investors.

Gulf Marine Services, the leading provider of advanced self-propelled self-elevating support vessels (SESV) serving the offshore oil, gas and renewable energy sectors, is pleased to confirm a major new contract award for one of its Large Class vessels. The vessel will commence a four-year charter (two years firm with two 12-month options) at the beginning of Q2 2015 and will be supporting well service and maintenance work in the Dutch sector of the North Sea. The day rate is in line with that previously indicated for the region.

Afren plc announces its Interim Management Statement and financial results for the nine months ended 30 September 2014 and an update on its operations year-to-date 2014, in accordance with the reporting requirements of the EU Transparency Directive. Information contained within this release is un-audited and is subject to further review.

Gulf Keystone, an independent oil and gas exploration and production company with operations in the Kurdistan Region of Iraq, notes today’s announcement by MOL Plc., operator of the Akri-Bijeel Block in which Gulf Keystone holds 20 per cent working interest, as follows:
“MOL Plc. hereby informs the capital market participants that the Field Development Plan (FDP) for the Akri-Bijeel Block in Kurdistan has been officially approved by the Minister for Natural Resources. Key terms of the related Lifting Agreement and Pipeline Construction Agreement are under discussion with the Ministry of Natural Resources. MOL Kalegran Ltd. (a 100% subsidiary of MOL) has been operating in Kurdistan since 2007 and is the Operator of the Akri-Bijeel Block. The Operator announced two commercial discoveries in the Block. The FDP is based on these two discovery areas, i.e. Bijell area and the Bakrman area. The development will be done in two phases, phase one objective is to allow the Operator to better determine key factors such as the reserves base, recovery factor, optimum surface facility design and overall field development cost. Phase I will start immediately with 4 drilling rigs and 1 work over rig to help reduce the overall timeline with front-end-loading wherever possible for Phase II.”

Argex Titanium, Inc., an emerging producer of high-grade titanium dioxide (TiO2) used as white pigment in paint, plastic, paper, cosmetics and other applications, reported that the Toronto Stock Exchange granted its application for the listing of $7,500,000 aggregate principal amount of 8% unsecured convertible debentures effective at the opening of business on Friday October 31, 2014, under the symbol, RGX.DB.

As previously alluded to in an earlier announcement, the Board of Continental Coal Limited advised shareholders that subsequent to the completion of the Rights Issue it had been presented with offers from third parties interested in acquiring its 74% interest in South African subsidiary Continental Coal Limited SA. The Company is please to advise that it has accepted one of the offers and is proceeding to sell its 74% interest.

During the September quarter, Segue Resources Limited advanced its exploration activities at the Plumridge Nickel and Gold Project in the Fraser Range Province of Western Australia. Segue now controls ~3,000km2 of contiguous granted exploration licences at the Plumridge Project and over 1,200km2 of tenements at the Deralinya Project, making Segue one of the largest ASX-listed tenement holders in the region.

Venturex Resources Limited advises that the Board has resolved to withdraw from all gold exploration activities in Brazil and proceed with the closure of wholly owned subsidiary CMG Mineração Ltda.

About the Author

Lauren is the editorial assistant for Futures Magazine. She graduated from DePaul University in 2013 with a degree in English.