Australian Market Report of December 15, 2010: Waratah Gold (ASX:WGO) Signs Convention With Congo Government For Youkou Iron Ore Project
Tiger Resources Limited (ASX:TGS) said today that construction has continued to proceed safely, on time and on budget for the Stage 1 development at the Kipoi Copper Project in the Democratic Republic of Congo. Tiger remains on schedule to start commercial production in the first quarter of 2011. The Company plans to produce approximately 35,000t per annum of copper for three years from the first stage of the development at Kipoi.
Axiom Mining Limited (ASX:AVQ) have received strong gold grades and high-grade silver results from the recent exploration drilling program at its 100% owned Porphyry prospect in North Queensland. The highest precious metal values averaged 3.67g/t Au, 161g/t Ag and 5,135ppm As over 2m. Further drilling is now planned and will be fast tracked. Several deeper diamond holes will be targeted to establish strike and dip continuity of the high grade mineralisation.
Greenland Minerals and Energy Limited (ASX:GGG) has received approval by the government of Greenland to fully evaluate the Kvanefjeld multi-element project. Kvanefjeld is an unusual mineral deposit located near the southern tip of Greenland that is enriched in rare earth elements, uranium and zinc, and is widely known to contain one of the world's largest resources of rare earth elements. In 2011, the company is planning on closing out the current pre-feasibility study with a final report before commencing a definitive feasibility study in the latter half of the year.
Waratah Resources Limited
Tiger Resources Limited
Greenland Minerals and Energy Limited
Axiom Mining Limited