Recent profit warnings, jitters about high-yield stocks and concerns about the Australian Dollar have led the All Ordinaries to close down 29.2 points, or 0.6%, to 5,156.2. The Shanghai Stock Exchange Composite Index slipped 0.06% to 2,298.62 points while the Dow Mini was up 6 points to 15,335.28. Spot gold hit a high of US$1,402.6 in Asian trading and is currently at US$1391.7.
Since Mark Bouris and Ken Ting turned TZ Limited around in 2009, to today's teaming agreement with Fastway Couriers for TZ's parcel distribution and logistics network, has not been without a hard slog. With previous partnerships, it could now give TZ a 60% share of parcel deliveries in Australia for its agnostic A.D.A.M. locker system.
The completed Scoping Study for the Mansa manganese project has demonstrated positive project economics as the project moves closer to production in a matter of weeks. Budgeted costs of delivering a CIF product are between $190 and $210 per tonne, in line with its expectations.
The use of Sub-Audio Magnetics, or SAM technology survey has already more than doubled strike length of the mineralised host structure at Deflector, where data indicates a strike length of some 2,350 metres, previously 950 metres in length.
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.
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.
"In a tough macro period for gold companies, the more than doubling in size of the Deflector corridor and strike length in WA for Mutiny Gold is an achievement and provides a signal as to just how large the Gullewa gold project could become. "
"Mark Bouris and Ken Ting at TZ Limited have carved out a potentially highly lucrative logistics network that could account for 60% of all online parcel deliveries. Today's deal with Fastway Couriers adds to the network. New orders from Singapore Post for A.D.A.M. smart lockers heralds more regional deals."
"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."