The Fox 3 drill hole has confirmed the lateral continuity of modelled coal seams at Fox Resources’ Bundaberg Coking Coal Project in Queensland. It has also intersected thicker upper seams that could increase the current Inferred Resource of 101 million tonnes.
The non-binding Memorandum of Understanding to sell up to 250,000 tonnes per annum of oxidised coal from the Ovoot Coking Coal Project in Mongolia to Zavkhan Power Station provides Aspire Mining with a potential revenue stream from what would otherwise have been considered waste material.
There was a very busy day of corporate activity on Wall Street overnight, with six Dow components reporting quarterly results. These included Microsoft and Apple are due to report after the closing bell. The ASX SPI is up 17 points to 5512.
Greenland Mineral's Kvanefjeld uranium and rare earth deposit in Greenland continues to advance towards key milestones including looking to finalise a mining license application through 2014, the upcoming permitting process and commercial discussions with development partners.
High grade silver samples of up to 422 ounces per tonne continue to support delivering high grade silver ounces for production at Black Mountain Resources’ New Departure Silver Mine in Montana.
The launch of Warrior Payments, an all-in-one payments, analytics, affiliate marketing and distribution platform, offers an alternative to other payment platforms. Notably it also leverages Freelancer’s internet marketing forum Warrior Forum, which has a network of over 780,000 internet marketers. We expect shares to move higher.
Work is now underway to advance Yellow Rock Resources’ Gabanintha high grade vanadium project in Western Australia following the completion of the third and final tranche of its rights issue shortfall, bringing the total raised to $3.36 million.
KGL Resources' shares are set to jump after delivering more high-grade broad zones of copper from the Jervios project. These included 13 metres at 5.75% copper. Bellbird is looking amenable to open pit mining. A resource upgrade is expected in August with a PFS in September.
The impressive results keep coming for Kibaran with the best ever graphite intersection at the Epanko deposit. There could be more to come with mineralisation open at depth and in all directions. More assays are expected next week. A resource upgrade to Indicated/Measured is underway. Shares should open higher.
Poseidon is not wasting any time moving towards a re-start of the Black Swan concentrator and mine, with contracts let for pre-start engineering activities. The work is expected to be completed by the end of the month.
The latest results from Deflector Gold and Copper Project indicate the mineralised structure extends beyond and below the current resource margins with additional geological interpretation and drilling required prior to any new resource estimation work.
From first pass exploration at the Montepuez project, Metals of Africa has discovered numerous occurrences of surface graphite outcropping on its 100% owned project, identifying a large area of greater than 10km in strike length believed to be prospective for graphite bearing lithologies.