Centrex Metals Limited (ASX:CXM) (OTCMKTS:CTTTF) has completed a maiden Mineral Resource estimate for its Ardmore Phosphate Rock Project in North West Queensland. The estimate was completed based on historical drilling from the 1960s through 1980s, with Centrex having undertaken drill hole collar surveys using modern GPS methods.
Centrex Metals Limited
CXM has two very significant joint venture agreements with Chinese steel companies. Baotou Iron & Steel Group Company Limited (‘Baotou’) signed an agreement covering the Bungalow tenement and Wuhan Iron & Steel (Group) Co. (‘WISCO’) signed an agreement covering 5 tenements in south east of the Eyre Peninsula.
Prior to the deterioration of the iron ore market the Company anticipated the oversupply of iron ore and began a process of diversification into other minerals and bulk commodities. This process has seen the acquisition of the Goulburn and Archer tenements (polymetallic) and Woolgarlo (gold) in New South Wales. More recently, in March 2015 the Company acquired the Oxley Potassium Project from Sheffield Resources Ltd and is now conducting testwork with a view to completing a scoping study in the middle of 2016.
Asian Activities Report for October 28, 2011: Victory West Metals (ASX:VWM) to Acquire South East Asia Energy Resources
Asian Activities Report for October 28, 2011 includes: Victory West Metals Limited (ASX:VWM) has signed a Heads of Agreement to acquire 100% of South East Asia Energy Resources Pte Ltd; Centrex Metals Limited (ASX:CXM) has received payment of A$8M to commence Stage 3A of the Bungalow Magnetite Joint Venture with Baotou Iron & Steel Group Company Limited; Gryphon Minerals Limited (ASX:GRY) announces more outstanding drilling results from ongoing drilling at the Nogbele Deposit at the Company's flagship Banfora Gold Project in Burkina Faso; Ivanhoe Australia Limited (ASX:IVA) announces the completion of the Osborne Copper-Gold Study and the results of the Preliminary Economic Assessment of the Osborne Project in north-western Queensland.
Asian Activities Report for August 1, 2011: Cullen Resources (ASX:CUL) Announce High-Grade Zinc Discovery at TL Property in Canada
Asian Activities Report for August 1, 2011 includes: Cullen Resources Limited (ASX:CUL) announced high grade zinc discovery from the TL Property in Canada; Kasbah Resources Limited (ASX:KAS) is to mobilise three additional drill rigs to the Achmmach tin project in Morocco; Centrex Metals Limited (ASX:CXM) has received approval to mine its wholly owned Wilgerup deposit of hematite iron ore in South Australia; Endocoal Limited (ASX:EOC) has successfully completed a A$7.7 million placement to fund the development of coal projects.
Asian Activities Report for May 10, 2011: BKM Management (ASX:BKM) To Acquire Potash And Rare Earth Projects In Western Australia
Asian Activities Report for May 10, 2011 includes: BKM Management Limited (ASX:BKM) has entered into an investment agreement to acquire a 30% interest in ORD River Diamonds Pty Ltd; Catalyst Metals Limited (ASX:CYL) reported high grade gold mineralisation at Four Eagles Gold Project; Centrex Metals Limited (ASX:CXM) announced an initial 103Mt Inferred Magnetite Resource at Bungalow deposit in South Australia; Beadell Resources Limited (ASX:BDR) announced the results of the Definitive Feasibility Study for its 100% owned Tucano Gold Project in Brazil.
Australian Market Report of January 6, 2011: OnCard (ASX:ONC) Signed Buffet Club Purchase Cooperation Agreement with Citic Bank (SHA:601998) (HKG:0998)
Australian Market Report of January 6, 2011 includes: OnCard International Limited (ASX:ONC) signed a Buffet Club Purchase Cooperation Agreement with China Citic Bank (SHA:601998) (HKG:0998); South Australia Government declares 'Major Project' status for Centrex Metals Limited's (ASX:CXM) deepwater port plan; Clough Limited (ASX:CLO) receive a letter of intent for CACT Project, offshore China; China Magnesium Corporation Limited (ASX:CMC) increase its interest in the Pingyao Magnesium Project to 90.7%.
Asian markets this morning sharply plunged following the massive drop in US shares. Australian stock market shed 1.7 per cent in early trade, while Japan's Nikkei gave up more than 300 points, or 2.8 per cent. Asian shares fell on Standard & Poor's ratings downgrades of Portugal and Greece and worries that the debt problem of the two nations could put the recovery in Europe under pressure.
Asian stocks markets broadly dropped on Thursday despite Wall Street posted a solid gain overnight. Tokyo shares opened lower as the stronger yen continued to dampen investors' sentiment. In Hong Kong market, China Minsheng Banking Corp failed to lift the Hang Seng Index in its debut. Shanghai and Seoul shares also declined as their Asian peers.
Wall Street broke its winning streak and closed lower overnight after a disappointing report showed US housing starts fell 10.6 per cent in October and permits fell 4.0 per cent. The tumble suggested that the real estate sector is still under pressure.
Wall Street rally ended on Thursday as the market was suffering from "rally fatigue". The better-than-expected US jobless claims and corporate news failed to move investors who had been bombarded by positive news in recent sessions. A surge in oil stockpiles also raised concerns over the US recovery.
The Australian market closed firmer yesterday on stronger commodities prices and good leads from overseas markets. The benchmark S&P/ASX 200 index rose 49.5 points, or 1.24 per cent, at 4050.3 points, while the broader All Ordinaries index gained 51.3 points, or 1.28 per cent, to 4044.2 points.