Australian Market Report of October 8, 2010: Waratah Gold (ASX:WGO) To Acquire Iron Ore Project In Congo
Avonlea Minerals Limited (ASX:AVZ) said that the Namibian Ministry of Mines and Energy was preparing to grant the company two Exclusive Prospecting Licences ("EPL") - EPL 4416 and EPL 4339. Both licence areas, located in Northern Namibia, have demonstrated prospectively. EPL 4416 covers approximately 420 sq. kms and is highly prospective for Vanadium and other base metals including Pb, Zn, and Cu, while EPL 4339 comprises 342 sq. kms and is located along strike from the Cu, Pb and Zn Tsongoari Mine. Exploration targets have been identified for immediate investigation when formal environmental clearance approval has been received.
Cape Range Limited (ASX:CAG) has entered into a Memorandum Of Understanding (MOU) to acquire up to 75% equity in the Domboshawa Hill Lithium Project with Willaway Enterprises (Private) Limited (Willaway), a Zimbabwean company. The project area is located just north of a well known lithium mining province in Zimbabwe, covering 19,995 hectares. The area has economic potential for pegmatite related minerals, especially lithium.
Argus Solutions Limited (ASX:ASV) today announced the launch of its American Depositary Receipt (ADR) program and quotation on the Over-The-Counter market in the U.S.. The primary benefit of establishing the program is to create a broader secondary market for Argus, particularly in North America, thereby providing better access for American investors to deal in Argus securities and assist liquidity in Argus stock. The ADR's will be tradeable via licensed U.S. brokers in the ordinary course of trading.
Waratah Resources Limited
Cape Range Limited
Avz Minerals Ltd
Argus Solutions Limited