Investors jumped back into iron ore on bargain hunting today, with the gold sector also outperforming as the yellow metal continues to climb. When it comes to industrials, there were red arrows across the board from banks, to retailers and financials. Ukraine and China are adding to investor concerns. ASF Group has continued its bull run.
Funds from the $1.2 million placement and a follow-up share purchase will fund White Cliff Minerals' trenching and drill testing of the Aucu copper-gold discovery at its Chanach copper-gold project in the Kyrgyz Republic as well as exploration in Western Australia.
Wison Offshore and Marine has been engaged to deliver a concept study for a floating liquefied natural gas vessel suitable for its Pandora Gas Field offshore Papua New Guinea that has a 792 billion cubic feet resource. This will pave the way for the PRL 38 joint venture to commence pre-Front End Engineering and Design.
The overall 13% increase in Resources at Peninsula Energy’s Karoo Projects to 56.9 million pounds grading 1,108ppm eU3O8 has improved the project’s economics. The focus is now on completing the pre-feasibility study and completing further delineation drilling.
MSC has now executed “Definitive Agreements” for the acquisition of PRM Cloud Solutions, positioning itself to tap the rapidly expanding Australian cloud computing market which is estimated to be worth US$882.4M in 2012 and is expected to reach US$3.33B in 2016. MSC has appointed a broker for the re-compliance prospectus issue.
Joining the WICET consortium gives International Coal increased access to information on access availability and progress at the Wiggins Island Export Terminal near Gladstone, which could provide over 80Mtpa in additional export coal capacity. This provides an export option for its Bundaberg and Consuelo projects.
Drilling at its Epanko graphite deposit should allow Kibaran Resources to upgrade the existing Inferred Resource of 14.9 million tonnes at 10.5% total graphitic carbon to the Indicated and Measured categories, allowing it to report its 2013 Scoping Study findings.
Gunson Resources is a multi-commodity developer that aims to mine the Coburn heavy sands deposit in Western Australia, and has formally launched a farm-in with Terrace Mining to study the feasibility of producing copper, silver, and cobalt metal from shallow deposits at Mount Gunson in South Australia.
Besides adding leading global asset manager JP Morgan to its share registry, the $5 million share placement allows Peninsula Energy to progress ongoing construction activities at its Lance Uranium Projects in Wyoming as well as feasibility studies at the Karoo Projects in South Africa.
Syrah Resources' shares have risen 11.38% today after reaching a Memorandum of Understanding with Chalieco, a member of the Chinalco Group, for the offtake 80,000 tonnes to 100,000 tonnes of graphite, nearly half the forecast first year production of 220,000 tonnes from its Balama Graphite Project in Mozambique. The company expects further offtake developments in the coming months.
With China approving six nuclear power facilities and the Japanese government pushing to restart 10 of its nuclear reactors, there is potential for the valuations of ASX-listed uranium stocks to grow - significantly in 2014/15.
With its Magnolia LNG project in Louisiana now authorised by the U.S. Department of Energy to export its full 8 million tonne per annum LNG production to Free Trade Agreement countries, Liquefied Natural Gas is now focused on securing binding long-term tolling agreements and submitting its application to the Federal Energy Regulatory Commission for full filing status.