Proactiveinvestors Australia short news

Why the Dow fell 206 points

Thu, 20 Jun 2013 08:16:00 +1000

U.S. investors hit the sell button the moment Fed chairman Bernanke said that the quantitative easing may slow down as early as this year, with the Dow ending the trading day down over 200 points. The Dow though is still up 15.3% year-to-date. In the pre-open markets, the Dow-mini is down nine points to 15,038, with the ASX SPI 200 down 55 to 4820.

International Coal close to securing prized Consuelo coking coal permits

Wed, 19 Jun 2013 16:31:00 +1000

There are known to be big wraps on the Consuelo coking coal project in the premier producing Bowen Basin in Queensland, with interest received from Asian groups, located near Glencore Xstrata plc’s Rolleston mine. The project is located close to existing rail and port infrastructure.

Stratum Metals identifies large, strong conductor at East Menzies

Wed, 19 Jun 2013 15:05:00 +1000

Interpretation of all data over Stratum Metals’ East Menzies Goldfields Project that incorporates data from the HeliTEM survey has identified a number of potential massive sulphide conductors, the strongest of which have not been tested by recent drilling. It is this one that could generate some excitement.

MacPhersons Resources finds up to 13g/t gold at Boorara

Wed, 19 Jun 2013 12:52:00 +1000

With individual gold bearing quartz veins ranging from 5g/t to 13g/t gold over metre thick intersections, MacPhersons can incorporate Boorara into the Nimbus mill feed schedule - providing another step forward on the road to production. Drilling also identified large gold halo zones up to 68 metres thick averaging 1g/t gold.

Liberty Resources secures prize Bowen Basin coal tenement near BHP Billiton

Wed, 19 Jun 2013 11:27:00 +1000

Liberty Resources’ newly awarded EPC 1949 is located close to BHP, Rio Tinto and Peabody' existing open cut coal mines, deposits and infrastructure, offering good, low cost, commercialisation potential. An exploration drilling program is set to commence within the month.

Allied Healthcare to start landmark clinical trial for genital herpes vaccine

Wed, 19 Jun 2013 09:46:00 +1000

The prize for finding a vaccine for herpes is vast, based on Prof Ian Frazer's work and success to date, this is within reach. Securing ethical approval to start the Phase 1 clinical trial for its Herpes Simplex Virus (HSV-2) vaccine will allow Allied Healthcare to confirm the ability of its treatment to prevent and cure the infection.

Proactive Investors Q&A with Blackgold International’s James Tong

Wed, 19 Jun 2013 08:30:00 +1000

Profitable Australian Stock Exchange listed thermal coal producer, under the radar has four operating coal mines located along the Yangtze River looks ahead to a secondary listing on the Stock Exchange of Singapore. Proactive Investors goes one-on-one with Chairman of Blackgold International, James Tong.

Toro Energy clears environmental appeal period for Wiluna Uranium Mine

Tue, 18 Jun 2013 09:54:00 +1000

With no appeal lodged against Federal environmental approval for the Wiluna Uranium Mine, Toro Energy is now free to focus on completing all technical and commercial studies required to support an investment decision for the project while continuing to seek a strategic partner support for the development capital needed.

Ascot Resources receives Speculative Buy from UK broker RFC Ambrian

Mon, 17 Jun 2013 15:44:00 +1000

Encouraging coal quality data from first phase drilling at Ascot Resources’ Titiribi Coal project has led RFC Ambrian to place a Speculative Buy recommendation on the company with expectations that the coal would be in demand in Brazil and Peru.

Blackthorn Resources on track for Kitumba Pre-Feasibility Study

Mon, 17 Jun 2013 11:45:00 +1000

With the Pre-Feasibility Study for the Kitumba base metals project on track for end July 2013 and continued high grade copper intersections from infill drilling with assays due in August 2013, Blackthorn Resources is making good progress on the project.

Cleveland Mining gains $10M facility from Baycrest Capital

Mon, 17 Jun 2013 10:31:00 +1000

Having secured A$10M in investment facility from Baycrest Capital, Cleveland Mining has bolstered its balance sheet that gives it the financing flexibility to progress its Brazilian gold and iron ore portfolio.

MZI Resources gains Bunbury port access for Keysbrook mineral sands project

Mon, 17 Jun 2013 09:32:00 +1000

Signing the Port Services Agreement with the Bunbury Port Authority places MZI Resources another step closer towards bringing its Keysbrook mineral sands project into production. The company is now working towards finalising finance arrangements.

Baraka Energy & Resources: Statoil steps up as operator in Georgina Basin

Fri, 14 Jun 2013 10:38:00 +1000

Statoil’s move to take up operatorship and a larger stake of the Southern Georgina Basin tenements demonstrates its belief in the prospectivity of the play sends a strong message. Baraka Energy & Resources also believes that it will be amendable to a concurrent conventional oil and gas campaign being carried out.

Hastings Rare Metals and ANSTO find further technical success

Fri, 14 Jun 2013 10:24:00 +1000

Hastings Rare Metals wholly-owns the largest heavy rare earth project in Australia, with the company's technical director Steve Mackowski teaming up to write a technical paper titled, “Hastings Project Process Development – Past and Present” with the REO research team from the Australian Nuclear Science and Technology Organisation. The report can be accessed here.

Apollo Minerals intercepts more IOCG mineralisation at Titan Project

Thu, 13 Jun 2013 15:16:00 +1000

Latest drilling results from Acacia East demonstrate elements required to define world class IOCG deposit at Apollo Minerals’ Titan Base-Precious Metals Project, taking it a step closer towards delineating a significant resource.

Aphrodite Gold plans new gold processing hub in Kalgoorlie region

Thu, 13 Jun 2013 13:16:00 +1000

With excess capacity and a pressure oxidation circuit, Aphrodite Gold’s planned oxide and refractory gold plant will be capable of processing third party ore in addition to ore from the company’s self-named gold project in the Kalgoorlie region.

Phoenix Gold to transition Blue Funnel into a cash generating mine

Thu, 13 Jun 2013 12:26:00 +1000

Phoenix Gold is set to receive net cash flows of over A$3 million in the near term, as the non-core Blue Funnel gold asset is monetised using toll milling at FMR’s Greenfield's Mill - with ore processing scheduled for August. The company now has two cash-flow generating assets, while having over $20 million in cash at the end of March 2013.

Noosa Mining and Exploration Conference ups ante with 38 companies

Thu, 13 Jun 2013 10:35:00 +1000

Noosa will play host to the third annual Noosa Mining and Exploration Conference in July, bringing together 38 Australian Stock Exchange listed resources companies and a swag of investors. Among the key note speakers, is well known mining identity Owen Hegarty - adding colour from the dais. The conference is on Thursday 18th and Friday 19th July.

Range Resources receives Speculative Buy with 10p (A$0.165) price target

Thu, 13 Jun 2013 09:28:00 +1000

The upcoming merger between Range Resources and International Petroleum is considered by broker Beaufort Securities to be an excellent strategic fit that will bring benefits such as increased reserves and production growth.

Millennium Minerals intersects up to 37g/t gold at All Nations deposit

Wed, 12 Jun 2013 11:34:00 +1000

The discovery of new multiple thick and high grade intersections points to a likely upgrade in current Resources and Reserves at Millennium Minerals’ All Nations deposit. This could potentially improve processing economics at the Nullagine Gold Project.

ABM Resources commences site works on time at Old Pirate for trial mining

Wed, 12 Jun 2013 11:06:00 +1000

The staged approach takes advantage of the low engineering risk at Old Pirate and allows ABM to keep up-front capital expenditure to a minimum. The objective is for each stage of development is to be profitable with quick payback periods, and to provide the capital required for the subsequent stages from cash flow.

Sun Resources forms Lower Woodbine oil partnership with Petro-Hunt

Wed, 12 Jun 2013 10:22:00 +1000

With part of its Delta Oil Project included in the new joint venture with Petro-Hunt, Sun Resources has demonstrated the growing attractiveness of its Lower Woodbine oil and gas acreage in Texas.

Aphrodite Gold lifts gold resource by 35% to 1.4M ounces at WA project

Wed, 12 Jun 2013 09:59:00 +1000

The substantial increase in contained gold to 1.4 million ounces at the Aphrodite Project, located 65 kilometres north of Kalgoorlie, follows recent news of negotiations with funding partners and the beginning of due diligence and a technical site visit by one to the Aphrodite project reported in May.

Modun Resources wins preferred coal briquettes supplier to Mongolian Govt.

Wed, 12 Jun 2013 08:45:00 +1000

Modun Resources is positioned to benefit from the Mongolian Government's 'Clean Air Initiative', and was the only international company selected as a preferred supplier under their Clean Air Initiative. Formalising this into an off-take agreement with Mongolian Government for supply of Nuurst coal briquettes is the next step.

Mindax and Hong Kong’s Perpetual Mining edge closer to Mt Forrest deal

Tue, 11 Jun 2013 11:37:00 +1000

Mindax has taken another step towards a joint venture for the Mt Forrest Iron Project with the Hong Kong based Perpetual Mining Holding Limited board giving its approval to proceed with the Transaction - which remains subject to execution of a binding formal joint venture agreement, and statutory approvals.

GBM Resources targets early gold production at Malaysian gold mine

Tue, 11 Jun 2013 10:57:00 +1000

The potential for early gold production from the Lubuk Mandi Gold Mine has received the backing of GBM’s major Singaporean shareholders. Its $1 million placement also provides additional funds for ongoing exploration and development of the company’s exploration assets.

Empire Oil and Gas to produce gas from Red Gully

Fri, 07 Jun 2013 14:31:00 +1000

With the imminent start-up of gas production from the Red Gully Gas and Condensate Processing Facility, Empire Oil and Gas is well positioned to progress further exploration in the Perth Basin from the strong base that it has established at Red Gully.

Nevada Iron report delivers low operating costs for Buena Vista

Fri, 07 Jun 2013 09:44:00 +1000

The Pre Tax NPV of US$263 million is driven by the very low waste to ore ratio for Buena Vista, among the lowest of new iron ore projects. This translates into relatively low mining costs per tonne of concentrate, with FOB operating costs of just US$64/dry metric tonne which drives the operating margin and positive project economics.

S&P/ASX Indices June rebalance adds industrials, resources out

Fri, 07 Jun 2013 09:10:00 +1000

The June quarterly rebalance for the S&P/ASX Indices has a general theme of small-medium industrial companies entering the broader indexes, generally at the expense of mining and resource focused stocks. The rebalance will take effect at the close of trade on Friday 21st June 2013.

Xceed Resources receives Buy Rating, $0.30 price target

Thu, 06 Jun 2013 12:47:00 +1000

U.K broker Old Park Lane Capital has a Buy Recommendation on Xceed Resources with a target price of $0.30, which is over three times the last traded price of $0.09. The broker said that the recently secured mining right 'significantly de-risks the project’s development timeline'.

Highfield Resources accelerates progress at Spanish potash projects

Thu, 06 Jun 2013 10:45:00 +1000

News-flow from the advanced Spanish potash projects is significant: a five hole validation drilling campaign on Sierra del Perdon project due to commence in June 2013; a maiden JORC resource at the Javier project is expected in July 2013 and a ten hole drilling campaign on Javier project is set to commence in July 2013.

Quest Petroleum finalises acquisition of Indonesian oil and gas well site

Thu, 06 Jun 2013 10:06:00 +1000

The purchase of property containing the upcoming Prabu-1 well site allows Quest Petroleum to proceed with drilling of the well while offering the flexibility to carry out further exploration or install production infrastructure as needed.

ASF Group to tap Significant Investor Visa program through AFSL

Wed, 05 Jun 2013 14:10:00 +1000

As a creator and facilitator of two-way cross-border investments, trade and technology transfers between China and Australia, ASF Group is better placed than most to benefit from the Significant Investor Visa programme announced by the Australian Government.

Sun Resources: Lower Woodbine oil play de-risked by third party wells

Wed, 05 Jun 2013 12:37:00 +1000

With strong oil and gas flow results of up to 835 barrels of oil equivalent per day from 10 horizontal wells owned by other Lower Woodbine operators, Sun Resources believes the play has been significantly de-risked the play from a financing and investment perspective.

MacPhersons Resources extends Boorara gold mineralisation over 2km

Wed, 05 Jun 2013 11:45:00 +1000

The extension of gold mineralisation at the Boorara Gold Mine to over 2 kilometres will allow for increased gold production from MacPhersons’ processing operations potentially from startup. Further upside is likely as it remains open at depth and along strike.

Horseshoe Metals notches 40% increase in copper resources at Horseshoe Lights

Wed, 05 Jun 2013 11:30:00 +1000

Successful drilling campaigns by Horseshoe Metals over the past 15 months have culminated in a 40% jump in the Horseshoe Lights resource, which now contains 128,600 tonnes of copper and 36,000 gold ounces - with close to a third in the higher confidence Measured and Indicated categories. Targeted drilling could substantially expand the resource base.

Ascot Resources finds significant coal seams at Titiribi in Colombia

Tue, 04 Jun 2013 13:56:00 +1000

There are significant catalysts ahead for Ascot including its Mine Planning Study for the Titiribi Project as part of the Company’s overall Scoping Study for the Titiribi Project, due in early Q3, 2013. Ascot is on track to publish an initial Coal Resource by early July 2013. Discussions have been undertaken with local off-take and marketing parties.

Phoenix Gold extends mineralisation at Blue Funnel Gold Mine

Tue, 04 Jun 2013 12:56:00 +1000

The discovery of shallow high grade gold extending the current mining reserve envelope of the existing Blue Funnel pit northwards provides Phoenix Gold with the opportunity to extract additional ounces and gain early cash flows with very healthy margins and low capital outlay. A development decision is expected within weeks.

Paynes Find Gold reaches milestone WA mining agreement

Tue, 04 Jun 2013 11:00:00 +1000

The agreement with MJF Mining Contractors allows Paynes Find Gold to begin development of two open pits at its self-named project and upgrade processing capacity with costs borne by MJF. This could deliver significant cash flow in the near term.

IMX Resources: Mt Wood magnetite project viable for development

Tue, 04 Jun 2013 10:56:00 +1000

Significantly, a Scoping Study has found could IMX could mine magnetite from Mt Woods at lower capital and project complexity than current magnetite projects in Australia. The infrastructure required to develop Mt Woods is already in place and being used by IMX’s Cairn Hill mine. Mt Woods is located 15 kilometres south-west of the Cairn Hill Mine.