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Market: ASX
Sector: General Mining
Epic: .EMG
News: Latest news
Web Site: Emergent Resources
Other Articles: 31-01-201022-01-201025-11-2009

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Tuesday February 09, 07:53Mediterranean Oil & Gas doubles proven and probable reserves for Ombrina Mare to 40 mmbbls

The good news gave a welcome boost to the group's share price, sending the stock up nearly 15 percent in early trade.

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Tuesday February 09, 11:07Randgold Resources remains focused on 1 million ounce production target

Speaking to assembled analysts in London, Randgold Resources CEO, Mark Bristow, told of a ‘great year' for his company, albeit also a challenging one, but one which would position it well for the years ahead

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Tuesday February 09, 01:53Chindex International reports increasing medical and healthcare revenues

Healthcare products and services group Chindex International (NASDAQ: CHDX) reported increasing revenues as it continued to expand its operations in the People’s Republic of China (PRC).

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Emergent Resources

Emergent Resources

Emergent Resources Limited (ASX: EMG) sees the present and foreseeable demand for resource commodities such as iron, base metals and precious metals remaining strong. The Company has successfully negotiated a joint venture to earn up to 80% equity (from De Grey Mining Ltd) of the potentially important Beyondie Iron Project and an option (subject to ASX listing) to acquire base metal, gold and uranium granted exploration licences and applications from Pandell Pty Ltd and Oakover Gold Ltd.

Emergent’s strategy is to effectively define and develop the company's Beyondie Iron Project exploration in conjuction with existing strong geological and structural association of lead-zinc and copper-gold mineralised targets.

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Friday, July 03, 2009

Investors cheer Emergent Resources' placement and Chinese JV for Beyondie Iron Ore Project

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Investors in Emergent Resources (ASX: EMG) are emerging with more cheer after EMG raised capital and inked a deal to develop the company's flagship Beyondie iron ore project.

Emergent raised $2.52 million via a placement of 6.3 million shares at 40 cents per share to sophisticated investors.  There is an attaching option for every two shares placed.

A non binding Memorandum of Understanding (MOU) was struck between Emergent and (state owned) China Metallurgical Investment Co Ltd (CMIC) for the development of Beyondie Iron Project in WA’s mid-west iron ore region.

The deal provides for AUD$200m funding from CMIC to achieve commencement of mining operations at Beyondie Project on a 50:50 Development JV basis. A placement of shares and an options to CMIC will raise an estimated AUD$4.9 million.

The deal aims to achieve the commencement of mining operations at the Beyondie Magnetite Project with an initial targeted production of 3Mtpa of magnetite concentrate.

The Beyondie Project is located in the northern region of the Mid West Iron Province in WA, immediately adjacent to the Great Northern Highway and Goldfields Gas Pipeline. The Company plans to develop the project into a long life, large scale, high grade magnetite mining operation, with potential shared rail and port infrastructure.

There is a three month due diligence period to begin within the next month.

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