Asian Activities Report for October 27, 2011: C @ Limited (ASX:CEO) To Acquire Eight Highly Prospective Mongolian Coal Licences
Sydney, Oct 27, 2011 AEST (ABN Newswire) - C @ Limited (ASX:CEO) has signed an agreement to acquire eight highly prospective Mongolian coal licences for US$7.8 millions. The licences lie in a region hosts a number of recent major black coal discoveries, and are near the expanding Chinese steel and energy markets. Phase II of the exploration program is to commence immediately following the completion of acquisition. The Company is to change its name to Draig Resources Limited and its company logo to reflect the proposed future operations and market focus.
African Iron Limited (ASX:AKI) announces a 267% increase in the JORC hematite mineral resource to 121 million tonnes at its 92% owned Mayoko Iron Ore Project in Congo. The Mayoko mineral resource now comprises an Indicated and Inferred hematite direct shipping ore of 44 million tonnes at 55% Fe. The Company will shortly commence a pre-feasibility study investigating the commencement of production by mid-2013.
ENK Plc (ASX:ENK) announces the first nickel production from its pilot plant located 250 km north of Manila in the Philippines. The initial 50kg (dry weight) of nickel hydroxide product will be sent to potential off-takers for evaluation, and future production from the pilot plant is expected. The Bankable Feasibility Study for an atmospheric nickel leaching project for the Acoje deposit remains on track to be completed in the second quarter of 2012.
Solagran Limited (ASX:SLA) says today that the Company recently visited an Asian country where a poultry trial was conducted in collaboration with a government body in the field of poultry production and disease management. Solagran's Conifer Green Needle Complex was trialled and showed great capacity to improve the quality of eggs. Solagran is confident that they will be in a position to begin commercially supplying this Asian country in the first half of 2012.