A drilling program begins this week on the Kratie North gold project, where gold bearing veins have been discovered by Indochine Mining Limited (ASX:IDC), which has the largest package of gold/ copper leases in Cambodia.
Oz Minerals Limited
OZ Minerals (ASX:OZL) Intersect Uranium Mineralisation On Toro Energy (ASX:TOE) Mt Woods Uranium Access Ground In South Australia
Toro Energy Limited (ASX:TOE) is pleased to announce exciting anomalous uranium intersections from OZ Minerals Limited (ASX:OZL) (PINK:OZMLY) 2010 drilling on the Mt Woods Project, near Prominent Hill in South Australia. Toro has uranium rights covering four exploration tenements surrounding the Prominent Hill Mine Lease in South Australia.
Indochine Mining Limited (ASX:IDC), a large-scale gold and copper explorer with the largest package of mineral leases in Cambodia, began trading on the Australian Securities Exchange today.
Australian Market Report of October 20, 2010: JFE Shoji Trade Acquired Interest In Cockatoo Coal Limited (ASX:COK) Coal Projects In Bowen Basin
Australian Market Report of October 20, 2010 includes: JFE Shoji Trade Corporation has acquired interest In Cockatoo Coal (ASX:COK) Bowen Basin Projects; PanAust Limited (ASX:PNA) is to invest US$110 million at the Phu Kham Copper-Gold Operation in Laos; Poseidon Nickel Limited (ASX:POS) intersected higher than expected nickel sulphide grades at the Cerberus deposit; Transol Corporation Limited (ASX:TNC) has acquired two new gold projects in Cambodia.
Mexican focused minerals explorer, Azure Minerals Limited (ASX:AZS), is pleased to announce that a significant program of exploration and development activity has commenced and will continue over the next six months. This work includes drilling on at least four projects, geophysical surveys on three projects, and ongoing target identification.
Australian shares opened flat this morning. Wall Street overnight closed in the red despite the US market pared most of its early losses after news of halted flow of oil into the Gulf of Mexico. The losses were caused by disappointing economic data including inflation figures, manufacturing in New York and industrial production across the country.
The Australian shares Monday delivered a weak opening but closed higher for a third consecutive day. Gold stocks led the gains in a quiet session. The benchmark S&P/ASX200 index was up 13.6 points, or 0.31 per cent, at 4,409.9 points, while the broader All Ordinaries index gained 15 points, or 0.34 per cent, to 4,429.5 points.
A boost in resources stocks on Friday helped to break the eight-day losing streak in Australian stocks market. The local market finished marginally higher at the close, despite the proposed new minerals resources rent tax sparked a strong gain in early trade. This is largely due to Investors' refocuse on global economy issues.
The Australian market rebounded to above 5000 points today after Wall Street gained on hope of upbeat US corporate earnings. On Wednesday, investors would look to consumer sentiment data from Wespac and Melbourne Institute. The local market fell back to below the 5000 points level on a weaker performance in Asian markets. Today Asian shares were mostly higher following the positive lead from Wall Street.
OZ Minerals Limited (ASX:OZL) and IMX Resources Limited (ASX:IXR) have signed an Exploration Joint Venture Agreement to form a joint venture to explore for, and facilitate the development of, copper-gold projects on IMX's Mt Woods tenements in South Australia. OZ Minerals, which holds a 13 percent stake in IMX, has an immediate 51 per cent interest in the joint venture.