Australian Market Report of February 10, 2011: Calzada (ASX:CZD) Announce Positive Results In Human Stem Cell Study For Bone Growth
PharmAust Limited (ASX:PAA) has signed a binding agreement to purchase 80% interest in a European high grade precious and base metal project, "Luke River". Luke River is an advanced exploration project located in northeast Macedonia. Extensive historical exploration reported high grade precious and base metal mineralisation, with grades up to 16.30g/t gold, 91.50g/t silver, 3.7% lead and 4.0% zinc.
Northern Star Resources Limited (ASX:NST) reported solid production and exploration at its Paulsens gold mine in Western Australia. In January, mining at Paulsens produced 5,957oz gold and gold sales reached 4,946oz, generating revenue of A$6.8 million. Paulsens also returned numerous significant gold intersections of up to 60g/t. The Company plans to announce resource update and new 2011 mine plan in the March Quarter.
Latin Resources Limited (ASX:LRS) has reached an agreement to acquire 14,068 hectares of world class Iron and Heavy Mineral Sands tenements at Guadalupito in Peru. The acquisition adds to the 2,218 hectares already controlled at Guadalupito by the Company's Peruvian subsidiary. Previous drilling at Guadalupito has demonstrated its potential for multi commodity project including Magnetite, Gold, Andalusite, Ilmenite, Zircon, Rare Earths and Tungsten.
Northern Star Resources Ltd
Latin Resources Limited