Asian Activities Report for November 3, 2011: Morning Star Gold NL (ASX:MCO) Resumes Underground Mining at the Historic Morning Star Goldmine
Sydney, Nov 3, 2011 AEST (ABN Newswire) - Morning Star Gold NL (ASX:MCO) has resumed underground mining at its 100% owned Morning Star Goldmine in Victoria's historic eastern goldfields. The Morning Star Goldmine was one of Australia's biggest gold mine in the 1940s. Its production recommenced in 2011 for the first time in nearly 50 years. Morning Star Gold NL plans to increase the production rate during 2012-13, targeting 80 kilo tonnes per annum throughput at its onsite processing plant with grades expected to range at 10-15grams/tonne.
Red Sky Energy Limited (ASX:ROG) has submitted an application for regulatory approval of Talma pilot well at the Kanagaroo Creek Sandstone gas discovery in north east New South Wales. A recent Resource Study considered the Kangaroo Creek sandstone gas discovery resource to be highly prospective. The Company plans to drill the Talma pilot well as well as a pilot production well to perform a long term production test to determine the magnitude of the resource.
Brambles Limited (ASX:BXB) announces the launch of CHEP Aerospace Solutions, the world's largest independent network of pooled unit load devices (ULDs) and repair centres. CHEP Aerospace Solutions will provide ULD pooling services as well as outsourced repair and maintenance of ULDs and airline galley carts to the aviation sector. To further enhance this new business, Brambles has signed an agreement to acquire Driessen Services, a specialist in the outsourced repair and maintenance of ULDs and airline galley equipment, for an enterprise value of EUR7.5 millions.
Dragon Mining Limited (ASX:DRA) announces an update of the Mineral Resource for the Juomasuo gold deposit to 1,574,000 tonnes at 5.7 grams/tonne gold for 285,800 ounces of gold. Juomasuo is the largest of the five gold deposits identified to date on the Kuusamo Gold Project in Finland. As a result of the resource upgrade at Juomasuo, the total gold resource inventory of the Kuusamo Gold Project has now increased to 460,700 ounces grading 4.2 grams/tonne.