Proactiveinvestors Australia Peako Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Peako Ltd RSS feed en Mon, 17 Jun 2019 13:08:47 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Peako applies for additional East Kimberley copper ground ]]> https://www.proactiveinvestors.com.au/companies/news/221185/peako-applies-for-additional-east-kimberley-copper-ground-221185.html Peako Limited (ASX:PKO) has applied for additional ground adjacent to its existing tenements in the underexplored belt-scale East Kimberley copper province.

If approved, this will increase the company’s tenement package to about 1,200 square kilometres.

Like Peako’s other two tenements the new ground is prospective for volcanic-hosted massive sulphide (VHMS) deposits comprising the Proterozoic exploration terrane of the Halls Creek Oregony.

The company’s East Kimberley copper exploration strategy focuses on VHMS deposits in order to leverage from the impending global copper supply shortfall.

“Commanding presence” in the East Kimberley

Peako chairman Geoff Albers said: “We are pleased to have built a commanding presence in the emerging East Kimberley copper province.”

The company’s East Kimberley tenements have historically been sparsely and sporadically explored for a wide range of mineralisation styles and commodities over a large area.

Historical exploration was primarily guided by surface gossans and geochemical anomalies with only the more significant geochemical anomalies tested by limited shallow drilling.

Prior use of geophysical methods including VTEM survey were ineffective at identifying mineralisation, including that identified by drilling.

In late 2018 Peako conducted an induced polarisation (IP) survey program consisting of both Gradient Array IP (GAIP) and Dipole IP (DDIP) at each prospect.

The IP surveys detected the known mineralisation at each prospect, validating the IP method.

The company is now preparing to drill test each prospect along strike of the known mineralisation with support of a $150,000 Environment Incentive Scheme drilling grant from the Western Australian government.

]]>
Thu, 30 May 2019 15:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221185/peako-applies-for-additional-east-kimberley-copper-ground-221185.html
<![CDATA[News - Peako Ltd among Tuesday's ASX % Gainer in morning trade ]]> https://www.proactiveinvestors.com.au/companies/news/171372/peako-ltd-among-tuesday-s-asx-gainer-in-morning-trade-171372.html  

]]>
Tue, 10 Jan 2017 11:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171372/peako-ltd-among-tuesday-s-asx-gainer-in-morning-trade-171372.html
<![CDATA[News - Peako Ltd among ASX % Gainers intra-day ]]> https://www.proactiveinvestors.com.au/companies/news/140505/peako-ltd-among-asx-gainers-intra-day-68996.html Thursday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume Peako Ltd PKO $0.002 100% 50,000 Walkabout Resources Ltd WKT $0.006 50% 84,997,436 Bass Metals Ltd BSM $0.018 50% 10,357,776 Segue Resources Ltd SEG $0.003 50% 578,836 Sipa Resources Ltd SRI $0.028 40% 2,575,586 Inca Minerals Ltd ICG $0.004 33.33% 7,285,785 Kidman Resources Ltd KDR $0.127 32.29% 9,666,983 BBX Minerals Ltd BBX $0.015 25% 20,000 Dark Horse Resources Ltd DHR $0.005 25% 150,000 Predictive Discovery Ltd PDI $0.005 25% 744,000

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 02 Jun 2016 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140505/peako-ltd-among-asx-gainers-intra-day-68996.html
<![CDATA[News - Peak Oil & Gas, Syngas Limited are the biggest ASX% Gainers intra-day ]]> https://www.proactiveinvestors.com.au/companies/news/140504/peak-oil-gas-syngas-limited-are-the-biggest-asx-gainers-intra-day-60830.html Friday’s leading ASX % Gainers intra-day.

NameCodeLastChangeVolume Peak Oil & Gas ASX:PKO $0.003 200% 1,100,300 Syngas Limited ASX:SYS $0.002 100% 315,024 Sipa Resources ASX:SRI $0.058 52.6% 9,556,066 Lakes Oil ASX:LKO $0.003 50% 5,465,352 Arc Exploration ASX:ARX $0.003 50% 210,016 First Growth Funds ASX:FGF $0.007 40% 1,000,000 Oz Brewing ASX:OZB $0.007 40% 11,800,420 Pan Asia Corp ASX:PZC $0.004 33.3% 100,000 Truscott Mining ASX:TRM $0.04 33.3% 50,000 Orecorp ASX:ORR $0.055 31% 64,000

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 20 Feb 2015 14:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140504/peak-oil-gas-syngas-limited-are-the-biggest-asx-gainers-intra-day-60830.html
<![CDATA[News - Peak Oil and Gas to progress merger with Octanex ]]> https://www.proactiveinvestors.com.au/companies/news/140503/peak-oil-and-gas-to-progress-merger-with-octanex-59574.html Peak Oil and Gas (ASX:PKO) has been granted an ASX trading halt in relation to its proposed merger with Octanex (ASX:OXX).

The proposed Scheme consideration is the issue of 1 Octanex share for every 24 Peak shares.

The halt will last until the earlier of the announcement being made or the start of trade on Tuesday, 16th December 2014.

Shares in Octanex have also being placed in a trading halt.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 12 Dec 2014 17:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140503/peak-oil-and-gas-to-progress-merger-with-octanex-59574.html
<![CDATA[News - Peak Oil and Gas raising $2.4M for Indonesia oil and gas exploration ]]> https://www.proactiveinvestors.com.au/companies/news/140502/peak-oil-and-gas-raising-24m-for-indonesia-oil-and-gas-exploration-51568.html Peak Oil and Gas (ASX: PKO) is raising up to $2.4 million to fund its exploration commitments in the South Block A production sharing contract in North Sumatra, Indonesia.

Octanex (ASX: OXX) is fully underwriting Peak’s pro-rata non-renounceable rights issue priced at $0.01 each while all of the company’s directors intend to take up their full entitlements.

The two companies are also working towards a merger that would be implemented by a Scheme of Arrangement.

This will be submitted to Peak shareholders in the first quarter of this year and will see Peak shareholders exchange their shares for Octanex shares.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 03 Jan 2014 14:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140502/peak-oil-and-gas-raising-24m-for-indonesia-oil-and-gas-exploration-51568.html
<![CDATA[News - Peak Oil and Gas acquiring 2D seismic at North Sumatra oil and gas block ]]> https://www.proactiveinvestors.com.au/companies/news/140501/peak-oil-and-gas-acquiring-2d-seismic-at-north-sumatra-oil-and-gas-block-50953.html Peak Oil and Gas (ASX: PKO) has started the acquisition of 170 line kilometres of 2D seismic at its South Block A production sharing contract in North Sumatra, Indonesia.

This is designed to mature and prioritise the best seven oil and gas leads to prospect status, one of which will be selected for drilling next year.

Completion of the seismic is anticipated through February 2014 and drilling in the second half of 2014.

South Block A is located in the prolific North Sumatra Basin in close proximity to established pipelines and infrastructure.

The seven leads have Unrisked Best Estimate (P50) Prospective Resource of 439 billion cubic feet of gas and 47 million barrels of oil.

Peak holds an effective 38.25% interest in South Block A through operator Renco Elang Energy.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 06 Dec 2013 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140501/peak-oil-and-gas-acquiring-2d-seismic-at-north-sumatra-oil-and-gas-block-50953.html
<![CDATA[News - Peak Oil & Gas identifies 'high potential leads' in North Sumatra ]]> https://www.proactiveinvestors.com.au/companies/news/140500/peak-oil-gas-identifies-high-potential-leads-in-north-sumatra-44753.html Peak Oil & Gas (ASX: PKO) has used new mapping and a prospectivity review to identify 'high potential leads' with aggregate unrisked mean Prospective Resource of 738.5 BCF gas and 63.8 MMBBLS oil and condensate in North Sumatra, at South Black A (SBA).

Seismic operations commenced to mature six oil and gas leads to drillable status prior to drilling of first exploration well early next year.

Highlighting the prospectivity of the area, the North Sumatra Basin contains proven hydrocarbons with gas and oil flows from old wells. Previous exploration focussed on shallow oil with little interest in gas.

A significant new gas discovery (Matang-1) across block boundary flowed 25 MMCFD. SBA is located close to key infrastructure such as pipelines and facilities.


Peak Oil's partners in SBA are:

- 51% REE (Operator): Peak Oil controls REE, the Operator and 51% interest holder in SBA (net to Peak 38.25%, earning via farm-in).

- 35% KRX Energy: Earning through farm-in to PT Prosys Oil & Gas who are carried through the first 3 years work program (up to expenditure cap). KRX Energy has been funded by Lion Energy, an ASX listed company.

- 14% PT Prosys Oil & Gas: Carried through the first 3 years work program.


Strategic Investor

During the March 2013 quarter Peak Oil executed a placement to the Albers Group for a two-part subscription for shares and options resulting in the raising of $3 million.
Tranche 1 was completed during the quarter resulting in the company raising $1.14 million, with Tranche 2 completed in early April 2013.

The Albers Group is headed up by Geoffrey Albers who has over 35 years’ experience in the upstream oil and gas sector, having been involved in ASX listed companies Cue Energy, MEO Australia and Octanex NL.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 24 Jun 2013 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140500/peak-oil-gas-identifies-high-potential-leads-in-north-sumatra-44753.html
<![CDATA[News - Peak Oil & Gas qualified for Myanmar onshore oil and gas bidding round ]]> https://www.proactiveinvestors.com.au/companies/news/140499/peak-oil-gas-qualified-for-myanmar-onshore-oil-and-gas-bidding-round-42069.html Peak Oil & Gas (ASX: RAI) has been officially qualified by the Myanmar Oil & Gas Enterprise (MOGE) to participate in the Myanmar’s upcoming competitive bidding round for onshore blocks.

The company, formerly known as Raisama Energy, had successfully met technical and financial in an environment that has drawn interest from the international oil and gas industry.

Companies that have expressed interest in Myanmar include ExxonMobil (NYSE: XOM), Total (EPA:FP) and Woodside (ASX: WPL).

Myanmar is highly prospective for oil and gas, with oil exports starting in 1853.

It holds estimated reserves of 72 trillion cubic feet of gas, 71Tcf of which is located offshore, and 540 million barrels of oil.

This is expected to increase further as much of the country remains unexplored.

Total and Malaysia’s Petronas Carigali currently operate the Yadana and Yetagun projects that have combined gas reserves of about 12Tcf. Both projects export gas to PTT in Thailand.

The MOGE will make formal presentations to the industry on the available blocks in May. This will include further advice on the timing of bid submissions and subsequent award.

Peak Oil had $835,000 in cash as of 31 December 2012 and has since raised $3 million through a share placement to the Albers Group.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 16 Apr 2013 10:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140499/peak-oil-gas-qualified-for-myanmar-onshore-oil-and-gas-bidding-round-42069.html
<![CDATA[News - Raisama Energy has Myanmar oil and gas in its sights ]]> https://www.proactiveinvestors.com.au/companies/news/140498/raisama-energy-has-myanmar-oil-and-gas-in-its-sights-39858.html Raisama Energy (ASX: RAI) has reached a formal alliance with Myanmar company Chinthe Energy to pursue oil and gas projects in the country.

The partners plan to evaluate and, if deemed appropriate, in the upcoming release of oil and gas blocks put out by upstream regulator Myanmar Oil and Gas Enterprise.

Myanmar is highly prospective for oil and gas as recognised by both large and small players and Woodside Petroleum’s (ASX: WPL) recent investment.

While it had previously lacked investment due to the prevailing political environment, recent steps toward a full democracy and open society have stimulated investor interest and also an easing of sanctions by the U.S.

Notable producing fields include the Yadana gas field operated by French supermajor Total.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 21 Feb 2013 12:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140498/raisama-energy-has-myanmar-oil-and-gas-in-its-sights-39858.html
<![CDATA[News - Raisama Energy to acquire 2D seismic over Indonesian oil and gas block ]]> https://www.proactiveinvestors.com.au/companies/news/140497/raisama-energy-to-acquire-2d-seismic-over-indonesian-oil-and-gas-block-39737.html Raisama Energy (ASX: RAI) will start shooting 170 kilometres of 2D seismic in March 2013 to mature its inventory of leads and prospects in its South Block A production sharing contract onshore northern Sumatra.

Acquisition is expected to take about four months with results due in August or September this year.

Drilling is expected to begin early next year.

Raisama’s 51% share of expenditure is around $2 million and is covered by the recently placement to the Albers Group.

South Block A is located within an existing petroleum system with abundant oil and gas near existing downstream infrastructure.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 19 Feb 2013 12:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140497/raisama-energy-to-acquire-2d-seismic-over-indonesian-oil-and-gas-block-39737.html
<![CDATA[News - Raisama Energy shares rise 28% ]]> https://www.proactiveinvestors.com.au/companies/news/140496/raisama-energy-shares-rise-28--39340.html Raisama Energy (ASX: RAI) has seen a general uptick in its shares since announcing a strategic investment by the Albers Group on 31 January 2013.

Shares are currently trading at A$0.032 this morning, up 28% from the close of $0.025 on 30 January 2013 and 18.52% from open today.

Volumes have also been high, with just under 3 million shares trading hands today and about 19.8 million shares traded yesterday.

The Albers Group, which is led by oil and gas veteran Geoff Albers, had agreed to subscribe for $3 million worth of Raisama shares.

Albers has already taken up the first 76.2 million shares priced at $0.015 each, or $1.14 million, and pending approval by Raisama’s shareholders, will subscribe for the second tranche of 92.8 million shares at $0.02.

Raisama will use proceeds from the placement to continue its exploration program at its highly prospective South Block A project in Indonesia, whilst maintaining its interest in the Palawan Basin in the Philippines, and pursue new venture opportunities.
 
The company is planning to shoot 2D seismic in South Block A before starting drilling in the first quarter of 2014.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 08 Feb 2013 14:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140496/raisama-energy-shares-rise-28--39340.html
<![CDATA[News - Raisama Energy raises A$1.14M for Indonesia and the Philippines ]]> https://www.proactiveinvestors.com.au/companies/news/140495/raisama-energy-raises-a114m-for-indonesia-and-the-philippines-39271.html Raisama Energy (ASX: RAI) has raised A$1.14 million after completing the first tranche of a broader $3 million placement to the Albers Group to progress its projects in Indonesia and the Philippines.

This first tranche of 76.2 million shares at $0.015 each will be followed by a second tranche of 92.8 million shares at $0.02 per share subject to shareholder approval.

Proceeds will be used to continue its exploration program at its highly prospective South Block A project in Indonesia, whilst maintaining its interest in the Palawan Basin in the Philippines, and pursue new venture opportunities.

The Albers Group is led by Geoffrey Albers who has over 35 years’ experience in the upstream oil and gas sector having been involved in building numerous successful ASX listed companies such as Cue Energy (ASX: CUE), MEO Australia (ASX: MEO) and Octanex (ASX: OXX).

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 07 Feb 2013 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140495/raisama-energy-raises-a114m-for-indonesia-and-the-philippines-39271.html
<![CDATA[News - Raisama Energy to raise capital ]]> https://www.proactiveinvestors.com.au/companies/news/140494/raisama-energy-to-raise-capital-38881.html Raisama Energy (ASX: RAI) is preparing to raise capital and has placed its shares into an ASX trading halt.

While progress on the company’s Philippines assets have been delayed, the company expects to participate in the drilling of prospects in Indonesia this year.

It is also participating in the drilling of the New Zealand Oil & Gas (ASX: NZO) operated Kakapo Prospect in New Zealand that could host 38 million barrels of oil net to Raisama.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 1st February.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 30 Jan 2013 14:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140494/raisama-energy-to-raise-capital-38881.html
<![CDATA[News - Raisama Energy to drill Taranaki Basin well in New Zealand, targeting multi million barrels ]]> https://www.proactiveinvestors.com.au/companies/news/140493/raisama-energy-to-drill-taranaki-basin-well-in-new-zealand-targeting-multi-million-barrels-33892.html Raisama Energy (ASX: RAI) will participate in the drilling of a highly anticipated well targeting the multi million barrel Kakapo oil prospect in the Taranaki Basin offshore New Zealand in the first half of 2013.

Kakapo is operated by New Zealand Oil & Gas (ASX: NZO) and targets a stacked series of inter-bedded Miocene coastal sands with prospective recoverable resources of 41 million barrels of oil in the main target sand alone.

This allows for additional pay in the levels both above and below the main target.

In the event that the trap is filled all the way to its maximum spill point, Kakapo could host up to several hundred million barrels of oil in total.

Kakapo lies in about 95 metres of water about 25 kilometres west of the Kupe gas condensate field.

Raisama has rights to earn a 10% working interest in the Kakapo prospect by paying 20% of the first well costs, which are estimated to be about US$25 million (A$24.1 million), or about US$4 million net to the company.

While the operator is targeting the first half of 2013 for well spud, this is subject to contracting a suitable rig – likely a jack-up unit.

The Taranaki Basin is highly prospective with discovered resources of 1.2 billion barrels of oil equivalent  while New Zealand fiscal terms are some the best in the world with only a 20% Resource Profits Tax (compared to 40% in Australia), an attractive depreciation regime and a 28% Corporate Tax rate.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

]]>
Thu, 27 Sep 2012 11:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140493/raisama-energy-to-drill-taranaki-basin-well-in-new-zealand-targeting-multi-million-barrels-33892.html
<![CDATA[News - Raisama picks up further interest with NPV of A$22M in Cadlao oil project offshore Philippines ]]> https://www.proactiveinvestors.com.au/companies/news/140492/raisama-picks-up-further-interest-with-npv-of-a22m-in-cadlao-oil-project-offshore-philippines-30765.html Raisama (ASX: RAI) has acquired an additional stake in the Cadlao oil redevelopment project offshore Philippines, adding 1 million barrels of proved and probable reserves with a net present value of A$22 million.

The company is acquiring Energy Best Limited, which holds a 40% interest in VenturOil, and will also fund VenturOil’s share of development costs on the Cadlao project to earn a 16.25% indirect working interest in the project.

The acquisition terms for Energy Best consists of an initial fee to the vendor followed by two further cash payments from each of the first two liftings of oil from Cadlao though the exact terms are unknown.

Meanwhile, Raisama will fund VenturOil’s 20% share of development costs on the Cadlao project, which are estimated to be between US$8 million (A$7.8 million) and US$10 million depending on the final development solution approved by the Philippines Department of Energy.

VenturOil is only obligated to pay these costs following the spudding of the first development well, which is scheduled for the first quarter of 2013.

This closely ties project funding with project revenues, leaving Raisama with no near term obligations. In addition, Raisama believes that Cadlao’s certified reserves will allow its commitments to be partially debt funded.

Raisama added the acquisition is separate and distinct from its earning of interests under the farm-in agreement with Blade Petroleum Limited, which is currently undergoing arbitration.

Cadlao background

Cadlao in Service Contract 6C has proved and probable reserves of 6.05 million barrels of oil and could produce over 11,400 barrels of oil per day with gross cash flows of over A$300 million expected in the first 12 months of production.

The field, located 400 kilometres southwest of Manila was  discovered in 1977 by Amoco.

It was developed in 1981 and produced about 11 million barrels of light oil from 2 wells before output stopped in 1991 due to high operating costs and low oil prices.

Since then, 3D seismic acquired over the field has confirmed that large volumes of oil still remain in the reservoir.

The Cadlao redevelopment project is expected to be very low risk due to its demonstrated production history. It could also play a role as a regional production hub due to nearby discoveries and low risk exploration prospects.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

]]>
Mon, 02 Jul 2012 09:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140492/raisama-picks-up-further-interest-with-npv-of-a22m-in-cadlao-oil-project-offshore-philippines-30765.html
<![CDATA[News - Raisama extends deadline on A$1.08M share purchase plan ]]> https://www.proactiveinvestors.com.au/companies/news/140491/raisama-extends-deadline-on-a108m-share-purchase-plan-27241.html Raisama (ASX: RAI) has extended its share purchase plan to raise up to A$1.08 million to 13 April 2012, allowing shareholders enough time to submit their applications following the Easter holidays.

The offer, which gave existing shareholders the opportunity to buy up to A$14,400 of new shares priced at A$0.09 each, was originally scheduled to close on 10 April.

The placement is part of a larger A$6.3 million raising to fund Raisama’s upcoming exploration programs in Indonesia and New Zealand.

Raisama raised the first A$4.5 million through a two tranche placement totalling about 50 million new shares priced at A$0.09 each to institutional and sophisticated investors.

The share purchase plan is partially underwritten to A$0.8 million.

]]>
Tue, 03 Apr 2012 14:52:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140491/raisama-extends-deadline-on-a108m-share-purchase-plan-27241.html
<![CDATA[News - Raisama seeks A$5.5 million to push ahead with Indonesia and New Zealand exploration ]]> https://www.proactiveinvestors.com.au/companies/news/140490/raisama-seeks-a55-million-to-push-ahead-with-indonesia-and-new-zealand-exploration-26128.html Raisama (ASX: RAI) is raising up to A$5.5 million to fund its upcoming exploration programs in Indonesia and New Zealand.

The company is planning to this year shoot 170 kilometres of 2D seismic and drill a well at the South Block A permit onshore North Sumatra.

The first A$4.5 million will be raised through a two tranche placement totalling about 50 million new shares priced at A$0.09 each to institutional and sophisticated investors.

This represent a 18.2% discount to the company’s last closing price on the ASX and a 20.4% discount to its 10 day volume weighted average price.

The remaining A$1 million will be made through a partially underwritten share purchase plan to existing shareholders.

Shares under this plan will also be priced at A$0.09 and will be underwritten to A$0.8 million.

Separately, the company had earlier this week firmed up US$30 million (A$28.4 million) in debt funding for its Cadlao oil development in the Palawan Basin offshore Philippines.

A final investment decision on the project is expected by the end of this quarter with first oil expected in the fourth quarter.

]]>
Wed, 07 Mar 2012 11:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140490/raisama-seeks-a55-million-to-push-ahead-with-indonesia-and-new-zealand-exploration-26128.html
<![CDATA[News - Raisama on track for Cadlao investment decision, production set to start before year end ]]> https://www.proactiveinvestors.com.au/companies/news/140489/raisama-on-track-for-cadlao-investment-decision-production-set-to-start-before-year-end-26052.html Raisama (ASX: RAI) is in place to move the Cadlao oil project in the offshore Palawan Basin, Philippines towards a final investment decision after confirming its US$30 million (A$28.3  million) debt facility is available for draw down.

Cadlao in Service Contract 6C has proved and probable reserves of 6.05 million barrels of oil and could produce over 11,400 barrels of oil per day.

Gross project cash flows of over A$300 million in the first 12 months of production are expected to allow Raisama to payback its less than US$30 million share of expected project costs within 2 months.

Raisama said Legavi Holdings, the arranger of the debt finance facility had given written confirmation that the funds would be available for full drawdown in the week starting 12 March 2012.

A final investment decision for Cadlao is expected this month with first oil expected before the end of this year.

Besides the debt facility, Raisama had cash of A$2.3 million as of the end of the December 2011 quarter and a US$35 million working capital facility by BP.

]]>
Tue, 06 Mar 2012 17:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140489/raisama-on-track-for-cadlao-investment-decision-production-set-to-start-before-year-end-26052.html
<![CDATA[News - Raisama sells Kashkasu II Uranium Project to China's Hebei Mining for A$1.5m ]]> https://www.proactiveinvestors.com.au/companies/news/140488/raisama-sells-kashkasu-ii-uranium-project-to-chinas-hebei-mining-for-a15m-23208.html Raisama (ASX: RAI) has agreed to sell its Kashkasu II Uranium Project in the Kyrgyz Republic for A$1.5 million to Hebei Mining of China, marking an important milestone for the company as it moves towards focussing on the oil and gas sector.

The deal enables Raisama to benefit from the value added during its recent drilling activities together with the continuation of technical advice to Hebei.

The company's core oil and gas assets include its Cadlao Project in the Palawan Basin Philippines.

Having entered into a memorandum of understanding with Hebei in April 2010, Raisama is looking to further develop its relationship with the Chinese uranium and copper-gold miner.

]]>
Thu, 08 Dec 2011 09:52:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140488/raisama-sells-kashkasu-ii-uranium-project-to-chinas-hebei-mining-for-a15m-23208.html
<![CDATA[News - Peak Oil & Gas target statement recommends Raisama takeover proposal ]]> https://www.proactiveinvestors.com.au/companies/news/140487/peak-oil-gas-target-statement-recommends-raisama-takeover-proposal-13734.html Raisama (ASX: RAI) has received some good news in the form of the Peak Oil & Gas target statement, where the Peak directors recommend shareholders accept the Raisama offer to purchase shares.

The offer is 15 shares in Raisama for every 11 shares in Peak.

For Raisama, this transaction will provide an imminent transition from explorer to producer with significant cash flow from the start-up of Peak’s Cadlao Oil Project in the Philippines expected in late 2011, an investment in oil and gas projects in Asia Pacific and a diversified asset base.

For Peak, this provides shareholders with a more diversified investment as Raisama is targeting advanced uranium projects.

 

]]>
Mon, 07 Feb 2011 15:52:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140487/peak-oil-gas-target-statement-recommends-raisama-takeover-proposal-13734.html
<![CDATA[News - Raisama to participate in L20/50 with Sun Resources and Carnavon Petroleum ]]> https://www.proactiveinvestors.com.au/companies/news/140486/raisama-to-participate-in-l2050-with-sun-resources-and-carnavon-petroleum-12872.html Raisama (ASX: RAI) will participate in the anticipated L20/50 onshore drilling campaign in Thailand with Sun Resources (ASX: SUR) and Carnavon Petroleum (ASX: CVN) via its proposed subsidiary company, Peak Oil and Gas, with exploration set to commence on Monday 17 January.

In consideration for past costs of acquiring the seismic data and development of the drilling prospects, Peak will carry 50% of the drilling expenses of the first well in the program, capped at US$1.3 million, to earn a 7.5% equity interest in the L20/50 concession.

Most importantly, any discovery at L20/50 can be quickly commercialised with crude oil transported by truck to one of Thailand’s nearby oil refineries for sale.

Following completion of the first well, Peak will be required to contribute only its 7.5%

The first well site, Tapao Kaew, was essentially completed in late December, however operations will not commence until the other well sites have progressed significantly enough to be able to drill up to 3 wells back to back.

The second well site, Krai Thong, is nearing completion and will be ready by the end of January, well ahead of earliest release of rig from Tapao Kaew.

The third well site, Chalawan, will be ready by mid to late February and a decision on whether to drill this third well will depend on results from the first two wells.

Sun Resources will maintain a 42.5% interest in L20/50 following farm-out to Peak, with the upcoming multi-well drilling program to test for up to 90 million barrels of oil, with the speculative potential based on gross recoverable oil.

Each well will take approximately two‐three weeks to drill and complete, with each well testing multiple reservoir horizons where the potential for stacked oil pools exists.

Carnarvon Petroleum is the operator at L20/50 with a 50% stake.

 

]]>
Fri, 07 Jan 2011 15:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140486/raisama-to-participate-in-l2050-with-sun-resources-and-carnavon-petroleum-12872.html
<![CDATA[News - Raisama drilling doubles uranium mineralisation at Kashkasu II discovery ]]> https://www.proactiveinvestors.com.au/companies/news/140485/raisama-drilling-doubles-uranium-mineralisation-at-kashkasu-ii-discovery-12314.html Raisama (ASX: RAI) and joint venture partner Monitor Energy (ASX: MHL) have doubled the strike extent of Raisama’s Kashkasu II uranium discovery in the Kyrgyz Republic to over 2.6km with high grade uranium intersections from a new, three hole reconnaissance drilling program.

The company's drilling, in all three programs, has returned exciting results confirming the presence of high‐grade uranium mineralisation in a number of horizons.

Individual samples up to 1m @ 884 ppm U3O8 have been received. The best intersections from the drilling included 3m @ 538 ppm U3O8 and 2m @ 477 ppm U3O8 from drill hole EKD09.

These results from regional reconnaissance drilling significantly increase the upside potential of the project. Importantly, The mineralisation remains open to the North West and down dip.

Raisama's aim is to define a JORC compliant resource in 2011 and its exploration team is currently planning an aggressive program of drilling and trenching in the new year.
 
Drill hole MD03 collared more than 750m north‐west of previous drilling intersected shallow uranium mineralisation including 3m @ 358 ppm U3O8 and 3m @ 196 ppm U3O8.

Drill hole MD04 drilled a further 580m north‐west intersected weak uranium mineralisation. Both of these holes are in an area of thin colluvium cover and thus represent significant results.

Raisama owns 75% of the Kashkasu II Project with Monitor Energy Limited holding a 22.5% interest.

The Kashkasu II project consists of two licences covering an area of approximately 50km2. Uranium was mined and processed from 1950‐1961 to the east of the current licence area.

The company is currently planning its exploration program for 2011. Emphasis will be placed on defining the strike limits to the mineralisation and defining a JORC compliant resource in 2011. Additional exploration will also be done to better define new targets within the tenement package.

On November 26 Raisama announced it is set to acquire Peak Oil & Gas (ASX: PKO) for A$39 million, equivalent to A$0.30 a share, to create a diversified Australian energy company.

]]>
Mon, 06 Dec 2010 10:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140485/raisama-drilling-doubles-uranium-mineralisation-at-kashkasu-ii-discovery-12314.html
<![CDATA[News - Raisama to acquire Peak Oil & Gas, Peak board recommends unanimously ]]> https://www.proactiveinvestors.com.au/companies/news/140484/raisama-to-acquire-peak-oil-gas-peak-board-recommends-unanimously-12046.html Emerging uranium company Raisama (ASX: RAI) is set to acquire Peak Oil & Gas (ASX: PKO) for A$39 million, equivalent to A$0.30 a share, to create a diversified Australian energy company.

Peak Oil & Gas board of directors unanimously recommend the offer.

Under the terms of the offer, Raisama will offer 15 shares in Raisama for every 11 Peak shares, with the transaction expected to be completed in early 2011.

David Berrie, managing director of Raisama, will become executive chairman of the combined company.

Jeff Steketee, managing director of Peak, will become managing director of the combined company.

Raisama has entered into pre‐bid acceptance agreements which total 19% number of Peak shares on issue.

For Raisama, this transaction will provide an imminent transition from explorer to producer with significant cash flow from the start-up of Peak’s Cadlao Oil Project in the Philippines expected in late 2011, an investment in oil and gas projects in Asia Pacific and a diversified asset base.

It is anticipated that Raisama’s bidder’s statement and Peak’s target’s statement will be sent to Peak shareholders in January 2011, and that a meeting of Raisama shareholders to approve the acquisition will take place in late January or early February 2011.

 

]]>
Fri, 26 Nov 2010 09:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140484/raisama-to-acquire-peak-oil-gas-peak-board-recommends-unanimously-12046.html
<![CDATA[News - Raisama in trading halt pending transaction announcement ]]> https://www.proactiveinvestors.com.au/companies/news/140483/raisama-in-trading-halt-pending-transaction-announcement-11969.html Emerging uranium exploration and development company Raisama (ASX: RAI) has requested a trading halt pending release of an announcement about a proposed corporate transation.

The halt will last until an announcement is made or commencement of trading on Friday 26th November 2010.

On september 6 Raisama significantly extended the known strike length of the high-grade uranium mineralisation at its Kashkasu II project in the Kyrgyz Republic, through a trenching program which has identified a number of new uranium occurrences.

]]>
Wed, 24 Nov 2010 10:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140483/raisama-in-trading-halt-pending-transaction-announcement-11969.html
<![CDATA[News - Raisama extends high grade uranium mineralisation at Kashkasu II ]]> https://www.proactiveinvestors.com.au/companies/news/140482/raisama-extends-high-grade-uranium-mineralisation-at-kashkasu-ii-9798.html Emerging uranium exploration and development company Raisama (ASX: RAI) has significantly extended the known strike length of the high-grade uranium mineralisation at its Kashkasu II project in the Kyrgyz Republic, through a trenching program which has identified a number of new uranium occurrences.

The trenching program by Raisama, and joint venture partner Monitor Energy (ASX: MHL), discovered a number of new, high-grade, near-surface uranium occurrences highlighting new areas for drill testing.

The surface sample results indicate the presence of multiple, high-grade zones of coal and sandstone hosted uranium mineralisation over a strike extent of more than 2,000 metres with some of the new samples more than 750 metres from previously drilled areas.

Geological faulting has offset the mineralisation in a number of areas along strike. The program of trenching and systematic sampling was undertaken to identify the strike potential of the known mineralisation at Kashkasu II where it extends under shallow alluvial cover.

Assays from this trenching and sampling have returned mineralised samples of up to 4,020 U3O8 at surface. The mineralisation is striking parallel with stratigraphy, North West to South East and is open along strike and down dip.

David Berrie, managing director, said “these new sampling results are significant and could lead to new drill targets at Kashkasu II. Our previous drilling, in both the phase 1 and phase 2 programs, has returned very exciting results and, combined with these trenching samples, will warrant a third phase of drilling."

"This follow up program will initially focus to the North West where the mineralisation remains open along strike.”

Raisama owns 75% of the Kashkasu II project with Monitor Energy holding a 22.5% interest. The Kashkasu II project consists of two licences covering an area of approximately 50km2. Uranium was mined and processed from 1950-1961 to the east of the current licence area.

The company said the results of the recent exploration work are highly encouraging, have significantly extended the strike of the mineralisation and have continued to highlight the potential of the Kashkasu II project area to host uranium mineralisation in multiple horizons.

The company has commenced planning for a phase 3 drilling progam to follow-up these results. This program is anticipated to commence in October 2010.

]]>
Mon, 06 Sep 2010 11:51:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140482/raisama-extends-high-grade-uranium-mineralisation-at-kashkasu-ii-9798.html
<![CDATA[News - Raisama encouraged by new high grade uranium at Kashkasu II JV ]]> https://www.proactiveinvestors.com.au/companies/news/140481/raisama-encouraged-by-new-high-grade-uranium-at-kashkasu-ii-jv-9175.html Emerging uranium company Raisama (ASX: RAI) and joint venture partner Monitor Energy (ASX: MHL) have reported multiple high-grade uranium intersections from a new seven hole drilling program, significantly extending the strike length of the Kashkasu II discovery in the Kyrgyz Republic.

Uranium mineralisation now extends over more than 1.1km with individual samples up to 1m @ 2,204 ppm U3O8 and was found from surface to 100m and is open along strike and down dip.

The best intersections from the drilling included 5m @ 686 ppm U3O8 and 3m @ 982 ppm U3O8 from drill hole EKD04 and 4m @ 522 ppm U3O8 and 3m @ 810 ppm U3O8 from drill hole EKD05. Assay results from all seven holes have been received.

The drill results indicate the presence of multiple, high grade zones of coal and sandstone hosted uranium mineralisation within a broad area where mineralisation has been identified at surface and now confirmed in drilling over a strike extent of more than 1,100 metres.

The assay results from these seven holes have recorded significant intercepts from as shallow as 20m down hole and to a maximum of 108m down hole. In three of the holes two or more unranium intercepts were recorded, indicating the potential for additional hanging wall and footwall zones that may extend to surface.

The mineralisation is striking parallel with stratigraphy, North West to South East and is open along strike and down dip.

David Berrie, managing director, said “these new drilling results are highly encouraging and have reinforced our view on the future potential at Kashkasu II. Our drilling, in both the phase 1 and phase 2 programs, have returned very exciting results confirming the presence of high-grade uranium mineralistion in a number of horizons."

"Those drilling results, combined with historic data, warrant a third phase of drilling and we have already commenced planning an extensive follow up program with focus to the North West where the mineralisation remains open along strike,” he added.

Raisama owns 75% of the Kashkasu II Project with Monitor Energy holding a 22.5% interest. The Kashkasu II project consists of two licences covering an area of approximately 50km2.

The company has commenced planning for a phase 3 drilling progam that will focus on the area to the North West where the mineralisation remains open along strike.

]]>
Fri, 06 Aug 2010 07:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140481/raisama-encouraged-by-new-high-grade-uranium-at-kashkasu-ii-jv-9175.html
<![CDATA[News - Raisama hits near surface uranium mineralisation at Baltic Bore ]]> https://www.proactiveinvestors.com.au/companies/news/140480/raisama-hits-near-surface-uranium-mineralisation-at-baltic-bore-8676.html Emerging uranium development company Raisama (ASX: RAI) has completed exploration drilling at its 100% owned Baltic Bore project in Western Australia on four high-priority targets identifying high grade uranium within three targets.

A total of 56 aircore drill holes for a total of 547 metres were drilled with samples submitted for chemical assay with results up to 1m @ 1217 ppm U3O8. Uranium mineralisation was identified from surface.

David Berrie, managing director, said the mineralisation in one of these targets remains open in multiple directions.

This is a virgin discovery in an area of no previous drilling. Raisama had identified the targets at Baltic Bore through a combination of a high resolution, airborne radiometric survey, geological mapping and surface rock chip sampling.

Surface calcrete samples grading up to 657 ppm (0.066%) U3O8 have been identified at surface over the Kewell anomaly.

Baltic Bore is approximately 100 km southeast of the Manyingee uranium deposit and 5 km north of the Jailor Bore uranium deposit in the Upper Gascoyne Province of Western Australia.

The Baltic Bore project consists of one granted exploration licence covering an area of approximately 186 km2.

China’s state-owned mining company Hebei Mining holds a 10.9% stake in the Raisama following its $12.25m initial public offering in December 2009.

Raisama’s portfolio includes the 100% owned Sunday Creek Project, located within the uranium prospective Paterson Orogen of Western Australia.

]]>
Fri, 16 Jul 2010 05:31:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140480/raisama-hits-near-surface-uranium-mineralisation-at-baltic-bore-8676.html
<![CDATA[News - Raisama commences drilling at Chain Pool uranium project ]]> https://www.proactiveinvestors.com.au/companies/news/140479/raisama-commences-drilling-at-chain-pool-uranium-project-6837.html Raisama (ASX: RAI) has reported that exploration drilling at the Chain Pool project in Western Australia has started on ten high-priority targets.

A total of 30 reverse circulation holes for a total of 3,000 metres will be drilled over a period of four weeks with drill samples to be submitted for chemical assay on a weekly basis.

The drill programme is designed to test the level and extent of sub-surface uranium mineralisation at ten of the currently identified targets.

The drilling will also aid with the determination of geological context and the structural controls on mineralisation.

Raisama said it has identified potentially significant surface uranium mineralisation from at least ten targets at Chain Pool through a combination of an ultra-detailed, high resolution, airborne radiometric survey, geological mapping and surface rock chip sampling.

Surface rock chip samples grading up to 2,240 ppm (0.224%) U3O8, have been identified at surface in a project area that has had no previous exploration.

Chain Pool is approximately 40 km southeast of the Manyingee uranium deposit and 50 km northwest of the Jailor Bore uranium deposit in the Upper Gascoyne Province of Western Australia.

These Chain Pool targets have the potential for Rossing style alaskite-hosted uranium mineralisation (The Rossing uranium mine in Namibia is one of the world’s largest known uranium deposits).

The targets vary in size up to a maximum of approximately 1.8 km2 and extend over a distance of more than 15 km in a northwest trend marginal to a major structural boundary.

The strike of the targets range in extent from 0.4 km to more than 2.6 km and provide significant exploration potential.

The Chain Pool project consists of one granted exploration licence and one exploration license application covering an area of approximately 270 km2.

David Berrie, Managing Director, said data acquisition and on ground exploration work is continuing to define further targets for drill testing and includes geological mapping, surface sampling and ground radiometric traverses.

]]>
Fri, 30 Apr 2010 08:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140479/raisama-commences-drilling-at-chain-pool-uranium-project-6837.html
<![CDATA[News - Raisama Ltd and Hebei Mining Resources ink strategic uranium alliance ]]> https://www.proactiveinvestors.com.au/companies/news/140478/raisama-ltd-and-hebei-mining-resources-ink-strategic-uranium-alliance-6296.html Uranium explorer, Raisama (ASX: RAI) and China’s Hebei Mining Resources Ltd have signed a strategic alliance to identify and potentially fund projects of mutual interest to the two groups.

Raisama managing director, David Berrie signed the alliance deal at a ceremony in Shijiazhuang, the capital of Hebei province, the sixth largest economy in People’s Republic of China yesterday.

He said Raisama will gain immediate access to the rapidly developing uranium market in China and across the world - backed by its largest shareholder.

Hebei Mining is Raisama Ltd’s largest shareholder with a 10.9% equity holding.

The alliance will look at funding of Raisama's projects, as well as the provision of technical support in relation to exploration.

Raisama’s uranium assets in Australia include five projects in Western Australia and one project in South Australia.

Raisama’s portfolio includes the 100% owned Sunday Creek Project, located within the uranium prospective Paterson Orogen of Western Australia.

It is located approximately 20km east of the Kintyre uranium deposit, sold by Rio Tinto to Canada's Cameco and Japan's Mitsubishi for US$500 million in 2008.

In the Kyrgyz Republic Raisama owns 75% of the Kashkasu II Project.

]]>
Thu, 08 Apr 2010 10:58:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140478/raisama-ltd-and-hebei-mining-resources-ink-strategic-uranium-alliance-6296.html
<![CDATA[News - Raisama identifies four main uranium targets in WA ]]> https://www.proactiveinvestors.com.au/companies/news/140477/raisama-identifies-four-main-uranium-targets-in-wa-5472.html Raisama Ltd (ASX: RAI) has discovered four main uranium targets at its Yannarie River project area in the Gascoyne region of Western Australia.

The largest target is more than 5.5km2. The Yannarie River exploration licence ELA08/2008, held by Raisama, covers an area of approximately 176km2

A high resolution airborne radiometric survey, has defined a number of new targets which have the potential to host terrace style calcrete uranium mineralisation.

The survey was designed to provide higher resolution data to identify new uranium targets for follow up fieldwork - including possible future drilling.

Multiple targets were identified as the radiometric survey data was processed and then reviewed by Raisama’s exploration team.

The four main target areas vary in size from 0.25km2 to more than 5.5km2. The newly identified uranium targets extend over a 22 km northwest trend along the identified palaeo (ancient) drainage route of the Yannarie River.

The strike of the targets range in extent from 1.6 km to more than 6.5 km, providing potentially significant follow up exploration potential.

A total of 2387 line kilometres was flown at 100m spacing over the Yannarie River project. The project is located approximately 85km south of the Manyingee uranium deposit and 50km north of the Jailor Bore terrace calcrete uranium deposit in the
Gascoyne province of Western Australia.

Further exploration work will include geological mapping and surface sampling in preparation for drilling during 2010.

Floated on the ASX in December 2009, Raisama is an emerging uranium development company with interests in Australia and the Kyrgyz Republic.

Raisama’s uranium assets in Australia include five projects in Western Australia and one project in South Australia. In the Kyrgyz Republic Raisama owns 75% of the Kashkasu II Project.

Raisama received strong support for its $12.25m IPO from a wide mix of institutional, sophisticated and experienced resources sector and retail investors.

The IPO was supported by China’s state-owned mining company Hebei Mining which following the IPO holds a 10.9% stake in the Company.

Raisama’s portfolio includes the 100% owned Sunday Creek Project, located within the uranium prospective Paterson Orogen of Western Australia. It is located approximately 20km east of the Kintyre uranium deposit, sold by Rio Tinto to Canada's Cameco and Japan's Mitsubishi for US$500 million in 2008.

Cameco and Mitsubishi are currently drilling at the Kintyre deposit with a view to fast tracking the mine’s development.

]]>
Mon, 08 Mar 2010 06:34:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140477/raisama-identifies-four-main-uranium-targets-in-wa-5472.html
<![CDATA[News - Raisama granted new uranium tenement within Kashkasu II uranium project ]]> https://www.proactiveinvestors.com.au/companies/news/140476/raisama-granted-new-uranium-tenement-within-kashkasu-ii-uranium-project-5042.html Emerging uranium company Raisama (ASX: RAI) has been granted a significant new exploration licence area to extend its tenement package at the East Kokmoinok area of the Kashkasu II uranium project in the Kyrgyz Republic.

The company applied for and was granted the extension to the East Kokmoinok area after discovering high grade uranium mineralisation in its initial drilling program on the project earlier this year.

The results from 4 diamond drill holes have confirmed that the Kashkasu II uranium project is a highly prospective and potentially valuable project requiring more exploration. Assays from the drilling revealed the presence of multiple, high-grade zones of coal and sandstone hosted uranium mineralisation at Kashkasu II within a broad area where mineralisation has been identified at surface over a strike length of more than 350m.

The best results from the earlier drilling included 3m @ 1651 ppm U3O8 from a depth of 72m, 2m @ 1521 ppm U3O8 from 77m, 3m @ 499 ppm U3O8 from 44m and 5m @ 465 ppm U3O8 from 55m.

All four holes were drilled beneath areas of surface anomalism and recorded significant intercepts from as shallow as 33m down hole and to a maximum of 105m down hole. The drilling also indicated the potential for additional hanging wall and foot wall zones that may extend to surface.

The mineralisation also appears to be open down-dip. Based on the drilling results the mineralisation appears to be striking north-west to south-east and is open in both directions along strike prompting Raisama to seek the additional ground for further exploration.

A second diamond drilling program at Kashkasu II will commence during April 2010.

Raisama’s main priority in the new drilling program will be to define the limits and extensions to the mineralisation and identify potential zones of uranium accumulation within the prospective stratigraphic horizons.

An application was submitted to the Kyrgyz Ministry of Natural Resources in January, 2010 for a licence to secure the highly prospective ground for uranium mineralisation located along strike to the north-west and south-east of the U bearing formations covered by the existing East Kokmoinok Licence. 

In the Kyrgyz Republic Raisama owns 75% of the Kashkasu II project. Raisama received strong support for its $12.25m IPO from a wide mix of institutional, sophisticated and experienced resources sector and retail investors.

]]>
Thu, 18 Feb 2010 07:52:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140476/raisama-granted-new-uranium-tenement-within-kashkasu-ii-uranium-project-5042.html
<![CDATA[News - Raisama intersects high-grade uranium mineralisation at Kashkasu II Project ]]> https://www.proactiveinvestors.com.au/companies/news/140475/raisama-intersects-high-grade-uranium-mineralisation-at-kashkasu-ii-project-4520.html Perth-based minerals exploration company Raisama (ASX: RAI) has intersected multiple, high grade zones of uranium mineralisation during diamond drilling at the Kashkasu II Project, located approximately 300km south of Bishkek in the capital of the Kyrgyz republic.

Assay results returned from the four diamond holes drilled at the Kashkasu II Project during the Company’s recently completed diamond drilling program include 5m @ 327 ppm U3O8, 3m @ 499 ppm U3O8 and 2m @ 454 ppm U3O8.

The company owns 75% of the company that controls the rights to explore and develop uranium at the Kashkasu II Project in the eastern Chinese border region of the Kyrgyz republic.

Monitor Energy Limited will retain a 22.5% interest in the project. The Kashkasu II Project consists of two licences that cover approximately 420km2.

Managing Director David Berrie said the initial results have confirmed the Directors’ opinion that the Kashkasu II Project was a highly prospective and potentially valuable project which warrants further systematic exploration.

"These drill assay results indicate the presence of multiple, high grade zones of Coal and sandstone hosted uranium mineralisation at Kashkasu II within a broad area where mineralisation has been identified at surface over a strike extent of more than 350m," Mr Berrie said.

Drilling was undertaken below areas of surface anomalism. The assay results from these four new holes have recorded significant intercepts from as shallow as 33m down hole and to a maximum of 105m down hole.

Furthermore, 50% of holes recorded two or more intercepts, indicating the potential for additional hanging and footwall zones that may extend to surface.

The mineralisation appears to be striking parallel with stratigraphy, North West to South East and is open in both directions along strike and is also open down dip.

The Kashkasu II Project is located approximately 300km south of Bishkek in the Kyrgyz Republic. Uranium mineralisation was historically mined to the east of the current licence area from 1950-1961.

The Company recently completed its maiden drilling program over the Project in December 2009, which consisted of a total of 4 Diamond drill holes. Assay results have now been received for all of the 4 holes. Individual high grade assay results have been independently validated by an accredited Australian laboratory. A second Diamond drilling program is planned to commence later this quarter at Kashkasu II.

Further exploration work, including geological mapping, surface sampling and radiometric traversing is continuing within the Project area to define additional targets and extensions of the current mineralisation for drill testing in the 2010 field season.

Mr Berrie said the results of Raisama’s recent exploration work were extremely encouraging, having confirmed historical interest in the region and highlighting the potential of the Kashkasu II Project area to host uranium mineralisation in multiple horizons.

]]>
Wed, 27 Jan 2010 08:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140475/raisama-intersects-high-grade-uranium-mineralisation-at-kashkasu-ii-project-4520.html