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ABN Newswire Stocks to Watch: January 13, 2010
ABN Newswire Stocks to Watch: January 13, 2010
Sydney, Jan 13, 2010 AEST (ABN Newswire) - Universal Resources Limited (ASX:URL) has reported the results of a preliminary field examination of the Quamby open pit gold mine (now abandoned). The sample results in bold type demonstrate the presence of fine and coarse (>150 micron) gold in a number of rock samples. The highest screen-fire assay gold grades occur in rocks with coarse gritty iron and titanium concentrations rather than in the finer grained heavy mineral bands. This may result from enhanced permeability of the coarser sediments to gold-bearing fluids. Copper, lead, zinc, molybdenum, cobalt and silver values are very low and on this basis the mineralization is interpreted as a mono-elemental gold deposit.

Marion Energy Limited (ASX:MAE) (PINK:MAEJF) advises that initial gas production and associated revenue has commenced from its 100% owned Ridge Runner ("RR") 2-20 well located at Clear Creek, Utah, USA with natural gas now being sold into the distribution system. In addition, work is also well underway or is in the planning stage at a number of other Clear Creek wells and work at the RR13-17, RR 11-17 and RR 2-19 wells is currently at various stages of operation.

Environmental Clean Technologies Limited (ASX:ESI) said its Victorian coal-drying and export project has advanced to the next stage with the formation of the Special Purpose Vehicle (SPV) with Vietnam based TinCom. The purpose of the SPV is to provide a legal entity within which the Feasibility Study, Detailed Design, Construction and Operation of the Coal Drying Enterprise may be executed.


Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344

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