Morning All
25 March Feeds :
InterMet Resources (ASX: ITT) has begun a ground magnetic survey over the Zeus and Argos geophysical anomalies at the Calypso nickel project, which is situated in a prolific nickel sulphide province in Western Australia.
The survey began last week after InterMet received heritage clearance and re-established access, and is being conducted in preparation for the design of the upcoming drill program.
Australian Natural Proteins (ASX: AYB) has secured a A$700,000 investment from Wu Pun Yan, who has committed to a placement of 11.7 million shares at the current share price of $0.06.
The funding will allow the company to begin acquiring fattened lambs from market to begin meeting demand from existing customers.
Sipa Resources (ASX:SRI) has raised over $1.86 million via a private placement of up to 24,923,334 shares at 7.5 cents per share.
The placement was done to sophisticated investors, most of whom were existing shareholders. In addition, the shares subscribed will also have one-half unlisted option with an exercise price of $0.15 per option, with an expiry of 2 years from issue.
MEO Australia (ASX: MEO) has upgraded the discovered and prospective resources at its Marina gas and probable oil discovery in the Joseph Bonaparte Gulf, offshore Western Australia, based on data from the 2012 Floyd 3D seismic survey.
Marina is now assessed as having best estimate (2C) contingent recoverable resources of 9.2 million barrels of oil and 169 billion cubic feet of gas, up 4.2MMbl of oil and 71Bcf of gas from the previous estimates.
Ausenco (ASX:AAX) has signed a contract to deliver engineering, procurement, and quality assurance services (EP Services) for a portion of the infrastructure works at Compania Minera Teck Quebrada Blanca's Phase 2 copper project in Chile.
Ausece has been doing the study and front end design work both the port and pipeline facilities since 2008 before.
Midas Resources (ASX: MDS) has planned a program of geophysics to drive drill target selection at its Paterson Project in Western Australia after previous drilling uncovered iron oxide-copper-gold (IOCG) style mineralisation.
The company will use detailed gravity surveys to map zones of hematite enrichment, with discrete anomalies to be covered by VTEM or airborne magnetic surveys to assist with 3D modelling prior to drilling.
Callabonna Resources (ASX: CUU) has signed a binding, conditional sale agreement to acquire Hong Kong company Element Morocco, which holds six Moroccan permits prospective for manganese.
Element Morocco subsidiary Element Commodities Morocco SA (ECMSA) holds an 80% working interest in the six permits while the Moroccan National Organisation for Hydrocarbon and Mining has a 20% interest.
MEO Australia (ASX: MEO) has executed binding amendments to its farm-in agreement with Eni Australia, giving it more time to carry out further studies and make a decision on whether to drill a second Heron well.
The Italian major now has until 18 December 2013 to decide on whether to drill the well.
Queenland coal company International Coal's (ASX:ICX) share price has jumped over 40 per cent in Monday trading.
ICX is nearing the release of a maiden coking coal resource near Bundaberg in Queensland.
Monax Mining (ASX:MOX) has confirmed the presence of coarse graphite flakes intersected in first drill hole of 2013 resource definition program at Waddikee graphite project on Eyre Peninsula in South Australia.
Petrological results of the drill samples confirmed the graphite presence located in the first of 77 holes, for a total of 7307 metres, drilled to date by Monax at the Wilclo South prospect- one of four key graphite targets at the project.
Jervois Mining (ASX: JRV) has been granted an exploration licence covering the Mt Ida Gold Mine, which is located on a highly prospective fault responsible for numerous gold discoveries along its 200 kilometre strike length.
Having the exploration licence now in hand, this marks Jervois’ return to gold mining with the company having pegged the licence in early July 2012.
Stratos Resources (ASX:SAT) is in talks with local Indonesian officials regarding transfer of licences and assets for its Yinchen tin project in Belitung Island.
It has already completed its technical due diligence on the asset and formulated a plan to both restart the tin smelter operations and undertake geological work on the 1,200 hectare of tenements on the island.
PepinNini Minerals (ASX:PNN) has identified coarse magnetite mineralisation from assays at its Curnamona project in South Australia.
The results follow reverse circulation drilling that included 17 boreholes for a total of 2,438 metres.
Karoon Gas (ASX: KAR) is carrying out sampling and analysis of thin sand sections at its Emu-1 exploration well in the Santos Basin, offshore Brazil, that may host hydrocarbons.
However, wireline log interpretation and pressure measurements indicate the main reservoir section is water bearing at this structural position despite elevated mudlog gas shows and oil fluorescence recorded during drilling.
Karoon Gas (ASX: KAR) is carrying out sampling and analysis of thin sand sections at its Emu-1 exploration well in the Santos Basin, offshore Brazil, that may host hydrocarbons.
However, wireline log interpretation and pressure measurements indicate the main reservoir section is water bearing at this structural position despite elevated mudlog gas shows and oil fluorescence recorded during drilling.
Ferrowest (ASX: FWL) has locked in plans to acquire up to 60% of Ngalia Resources’ Yalyirimbi Iron Ore Project in the Northern Territory with the inking of a sale and purchase agreement.
The key to the project is its early cash flow potential, as well as its potential for initial shipments of high grade lump ore.
Encounter Resources (ASX: ENR) is starting reverse circulation drilling at its Yeneena copper-cobalt project in Western Australia.
Yeneena covers 1,400 square kilometres in the Paterson Province and is located 40 kilometres southeast of the Nifty copper mine and 30 kilometres southwest of the Telfer gold-copper deposit.
Genesis Minerals (ASX:GMD) has started drilling at its Poncha project in Argentina with the 2,500 metres drill program targeting high grade epithermal gold targets along with potential bulk tonnage breccia targets.
Drilling will continue at the Southern Epithermal Target to follow up high-grade gold mineralisation intersected in drill-hole 12 PODH 003 in 2012.
Esperance Minerals (ASX: ESM) received a price and volume query from the ASX for last week’s 71% share price increase.
The company’s shares rose to an intra-day high of A$0.12 last Friday, up from a low of $0.07 the previous Monday, 18 March.
Jatenergy (ASX: JAT) will invest up to $650,000 to develop the Geronggang Coal Project in South Kalimantan after completing economic, geological and legal due diligence.
It is also searching for an investor to fund another $650,000 to bring the project towards production.
Stratum Metals (ASX: SXT) will soon complete an airborne electromagnetic survey of its entire tenement holding east of Menzies with the arrival of geophysical survey contractor Fugro on site.
Linc Energy (ASX:LNC) has encountered 100 feet of net oil pay in the Lower Grandstand Formation in the Umiat-18 well in Alaska.
Umiat-18 is currently being cased in advance of deeper drilling the well to examine the potential of a new gas target at depth and it is expected that it will encounter the deeper gas target within the next week.
Orca Energy (ASX: OGY) and operator Senex Energy (ASX: SXY) have completed fracture stimulation operations at the Hornet-1 well in the southern Cooper Basin.
In total, six zones were stimulated in the Patchawarra Formation between the depths of 2,489 metres and 2,678 metres.
Drake Resources (ASX: DRK) has produced nickel and copper concentrate grades of up to 13.3% in early stage metallurgical testwork on a 5.4 kilogram sample from its Granmuren Project in Sweden.
Significantly, the process using the least amount of costly reagents produced a better concentrate, which could bode well for commercial scale operations.
Navarre Minerals (ASX:NML) has confirmed significant zinc-gold mineralisation at its Delamerian base metals and gold project in Victoria.
It has successfully completed an initial program of 20 air core and reverse circulation drill holes for a total of 965 metres to test its concept of a potential shallow porphyry-style copper gold target at the Eclipse prospect.
Mindax (ASX:MDX) is on a trading halt pending an announcement on the outcome of discussions with a potential partner for its Mt Forrest iron ore project.
The halt is likely to continue until the earlier of start of trade on 27 March 2013 or when the company updates the market.
KalNorth Gold Mines (ASX: KGM) has booked an initial Reserve for its Mt Jewell Field in Western Australia, increasing the company’s total Probable Reserve by 78%.
The maiden Reserve for Mt Jewell came in at 2.74 million tonnes at 1.36 grams per tonne (g/t) for 119,800 ounces of contained gold.
Phosphagenics (ASX:POH) has achieved all the end points of its crucial Phase 1 trial of its oxymorphone patch by successfully delivering the opioid into the bloodstream via its TPM transdermal patch.
Laconia Resources (ASX: LCR) is preparing to make an announcement regarding a material update concerning its Rasuhuilca Project update in southern Peru, with the ASX granting the company a trading halt this morning.
Peninsula Energy (ASX: PEN) has been issued the draft Supplemental Environmental Impact Statement for the Central Processing Plant and Ross Permit Area in Wyoming.
Notably, U.S. Nuclear Regulatory Commission staff recommended in the SEIS that the NRC should issue a Source Material License for the proposed Ross ISR Project
Balamara Resources (ASX:BMB) has secured a highly prospective exploration concession in the Balkans, strategically located immediately adjacent to the currently operating Suplja Stijena zinc-lead mine.
The concession area, known as Rajkovici-Seliste-Celebici ore field or RSC project, comprises an extensive area of over 50 square kilometres.
Balamara Resources (ASX:BMB) has secured a highly prospective exploration concession in the Balkans, strategically located immediately adjacent to the currently operating Suplja Stijena zinc-lead mine.
The concession area, known as Rajkovici-Seliste-Celebici ore field or RSC project, comprises an extensive area of over 50 square kilometres.
Immuron Limited (ASX: IMC) is in pre-open this morning after the ASX granted the company a trading halt, pending a capital raising announcement.
Immuron is a biopharmaceutical company focused on oral immunotherapy treatments using dairy-derived antibody products for humans.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 27th March 2013.
-----------------------------------------------------------------------------GOLD
Gold has eased on signs a bailout deal is imminent for Cyprus staving off a banking collapse and catastrope.
Cyprus secured a 10 billion euro ($13 billion) package of rescue loans.
Spot gold fell 0.39 percent to $1,608.55 an ounce in Asian trading at lunchtime on Monday.
In return for the bailout, Cyprus must drastically shrink its outsized banking sector, cut its budget, implement structural reforms and privatize state assets.
The finance ministers accepted the plan reached in 10 hours of negotiations in Brussels between Cypriot officials and the so-called troika of creditors: the International Monetary Fund, the European Commission and the European Central Bank.
Under the plan, Cyprus' second-largest bank, Laiki, will be restructured and holders of bank deposits of more than 100,000 euros will have to take losses, Dijsselbloem said, adding that it was not yet clear how severe the losses would be.
Savers' deposits with all Cypriot banks of up to 100,000 euros will be guaranteed by the state in accordance with the EU's deposit insurance guarantee, Dijsselbloem said. Laiki will be dissolved immediately into a bad bank containing its uninsured deposits and toxic assets, with the guaranteed deposits being transferred to the nation's biggest lender, Bank of Cyprus.
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Source: Proactive Investors Australia
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