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Asian Activities Report for March 31, 2011: Guildford Coal (ASX:GUF) To Acquire Significant Thermal And Coking Coal Assets In Mongolia
Asian Activities Report for March 31, 2011: Guildford Coal (ASX:GUF) To Acquire Significant Thermal And Coking Coal Assets In Mongolia
Sydney, Mar 31, 2011 AEST (ABN Newswire) - Guildford Coal Limited (ASX:GUF) has reached a binding agreement for the acquisition of a 20% stake in Terra Energy LLC, a Mongolian based company that holds exploration permits containing two potentially significant thermal and coking coal projects in Mongolia. Guildford also has the option to increase its stake to 70% within 6 months from the commencement of drilling, which is scheduled in April 2011.

MetroCoal Limited (ASX:MTE) has completed the first five drillholes at the Bundi Coal Project in southeast Queensland. Thicker than expected coal seams were intersected with up to 7 meters in thickness. Results also showed that coal seams extended further to the east. The Company has mobilised three drill rigs to site and continues drilling to increase resource confidence. The total exploration target for the Bundi Project is between 240Mt and 335Mt.

Rakon Limited (NZE:RAK) said today that its new plant in China is on track to open in July this year, which will help service the fast growing smart wireless device market. Rakon will initially invest US$45 million in its China plant with plans to invest further over the following 2 years to meet expected growth in demand. Its China plant will have the capacity to produce up to 30 million crystals per month, compared to Rakon's New Zealand facility which, at peak production, produces 15 million frequency control products per month.

Resource Generation Limited (ASX:RES) has been chosen as the preferred party to construct, operate and maintain a wastewater treatment plant, approximately 50 kilometres from its Boikarabelo coal mine in South Africa. The plant is expected to generate up to 16 megalitres of water per day and will provide sufficient water to meet the medium- and long-term needs of the mine. It will also benefit the local community by providing essential infrastructure and environmental protection.


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