The award of WA-485-P locks in a potential extension of the M.australis horizon oil play that IPB Petroleum plans to test in mid-July. Success will add to the prospectivity and value of the new permit.
The start of the second phase drilling at Mt Forrest iron project puts Mindax on the path to potentially expand both the iron base as well as life of the mine. Importantly, it also has promise for the proposed partnership with Hong Kong-based Perpetual Mining, that could see the company invest $52 million.
U.S. stocks again hit all-time-records on Friday, as positive economic reports boosted investor sentiment. Gold in the spot market has fallen to US$1346 an ounce. In the pre-open markets the Dow lower by 12 points at 15,327, while the ASX SPI 200 is up 19 points at 5212.
A JORC compliant resource upgrade to 294 million tonnes at the Ntendeka Colliery in South Africa will potentially add to Ikwezi Mining's value upside as it is on the threshold of becoming a coal producer in the September quarter of this year.
With the completion of well in one of the thickest Lower Forest pay sections encountered to date, drilling of new wells and workovers of existing wells, Range Resources is making strides in ramping up oil production from its Trinidad operations.
The $5.1 million received is part of a planned $10 million investment by Owen Hegarty's EMR Capital in Highfield Resources to develop its advanced potash projects in Spain.
Having made inroads to access the eastern area of the high grade silver Bonanza Zone at the New Departure project in Montana, Black Mountain is on the cusp of first cash generative silver production.
An Independent Report by RPS Energy Services has defined the strong in-place potential for multiple billion barrels of oil and trillion cubic feet of gas to be contained within the various unconventional reservoirs in Empire Oil and Gas’ onshore Perth Basin Permits.
Cougar Energy has started the Phase 1 drilling program at its Mackenzie PCI grade coal tenement that will unlock the value of the asset by helping define a maiden JORC Resource.
Besides securing offtake for iron ore produced at Nelson Bay River Iron Ore DSO Project, the agreement with Singapore’s Frost Global also provides Shree Minerals with a US$4 million advance to progress development of the project, which has low forecast OPEX of $58 per tonne for DSO product FOB Port Burnie.
The start of water injection at Elk Petroleum’s Grieve Enhanced Oil Recovery Project in Wyoming has the potential to achieve first oil earlier than expected by accelerating the re-pressurising of the Grieve Muddy oil reservoir.
Drilling of high grade gold targets is the primary objective for Red Mountain Mining’s $2.8 million partially and conditionally underwritten pro-rata, renounceable rights issue. This is expected to lead to a resource upgrade and positive Scoping Study.
"The upcoming Pyderi exploration well that IPB Petroleum is drilling will, if successful, prove up the oil prospect in its existing permit and increase the prospectivity and value of the newly awarded permit."
"Highfield Resources has continued its impressive share price rise; banking $5.1M to date from Owen Hegarty's EMR Capital to fast track development of potash projects located in Northern Spain"