Asian Activities Report for June 20, 2011: Hastings Rare Metals (ASX:HAS) To Acquire Yangibana Rare Earth Project In Western Australia
Hastings Rare Metals Limited (ASX:HAS) has signed an agreement to acquire a 60% interest in the Yangibana Rare Earth Project in Western Australia. At least nine rare earth occurrences have been identified within the Project area. Hastings plans to evaluate the Project to determine the potential size of the prospect and to establish JORC-compliant resources.
IPGA Limited (ASX:IPP), the owner of Asia's No. 1 network of property portal sites, www.iproperty.com, has entered into an agreement with SeLoger.com to raise A$8.9 million by way of a strategic investment from SeLoger.com, France's number one ranked property portal and part of Axel Springer (ETR:SPR), one of Europe's largest Media Groups. The investment by SeLoger.com will provide IPGA with funds and experience to further consolidate its leading positions in Malaysia, Singapore, Hong Kong, and Indonesia, and to look for opportunities of future expansion in Asia.
Krucible Metals Limited (ASX:KRB) has received further encouraging results from the Garnet Prospect in Queensland. A total of 13 holes were drilled to target Iron Oxide Copper Gold mineralisation and visible copper mineralisation was encountered. The Company will commence geophysical work to be followed by the next round of drilling program.
Mineral Deposits Limited (ASX:MDL) has entered into a Memorandum of Understanding with French mining and metallurgical group Eramet (EPA:ERA) to form a strategic incorporated joint venture. The joint venture will combine Mineral Deposit's 90% interest in the Grande Côte Mineral Sands Project in Senegal and Eramet's Tyssedal titanium slag and iron plant in Norway to create a globally significant vertically-integrated mineral sands player.
Mineral Deposits Limited
Krucible Metals Limited
iProperty Group Ltd
Hastings Technology Metals Ltd
Axel Springer AG