Asian Activities Report for November 7, 2011: Austal Limited (ASX:ASB) Acquired a Shipyard in the Philippines to Expand its Manufacturing Base
Palace Resources Limited (ASX:PXR) has signed a binding agreement to make a share placement to professional and sophisticated investors to raise A$1.33 million. The funds will primarily be used to finance the exploration and development of the Company's Lumpo coal project in Western Sumatra in Indonesia.
Golden Gate Petroleum Ltd (ASX:GGP) announces a second oil and gas discovery at the SRH-A # 8A well in the Permian Basin Project in Reagan County, Texas. The first discovery was at the SRH-C # 6H well. Log results along with gas shows and oil recovery from both wells are above initial expectations.
Chalice Gold Mines (ASX:CHN) reports further high-grade gold intercepts from the Koka South and Debre Konate prospects, located immediately south of the flagship Koka Gold Deposit at its Zara Project in northern Eritrea. The new results have confirmed and extended previously intersected high-grade mineralisation at Koka South and identified a significant new mineralized zone at Debra Konate, about 2.5 kilometres south of the Koka Deposit.
Palace Resources Limited
Golden Gate Petroleum Ltd
Chalice Gold Mines Limited