ABN Newswire Stocks to Watch: February 9, 2010
Pluton Resources Limited (ASX:PLV) has received the final report from the CSIRO on upgrading iron concentrates using flotation. The test results show that flotation produces high quality concentrates from both the Yampi Member and Wonganin Sandstones from Irvine Island, Western Australia (E04/1172).
Marion Energy Limited (ASX:MAE) (PINK:MAEJF) said its bankers, BNP Paribas Fortis and Fortis Netherlands, have approved an extension of the Company's bank credit facility to a maturity date of March 31, 2011, subject to final documentation. The credit facility currently is fully drawn to a balance of US$42 million. The repayments schedule will include a requirement for a reduction of the amount outstanding from US$42 million to US$37 million by June 30, 2010, a further reduction to US$32 million by September 30, 2010 and the remaining balance outstanding repayable by the maturity date of March 31, 2011.
Pluton Resources Limited
Marion Energy Limited
Drillsearch Energy Limited