Venus Metals Corporation Limited (ASX:VMC) ("Venus") report the results of the Scoping Study on the Yalgoo Iron Ore Project (as completed by Mineral Engineering Technical Services Pty Ltd. Their financial model indicates a potential net present value of A$1.14billion with internal rate of return of 24.4% based on a 30 Mtpa mine.
Tectonic Resources NL (ASX:TTR) announce the successful completion of the independent Definitive Feasibility Study on its 100% owned Phillips River Project demonstrating a viable project, generating over A$1 billion in revenue and A$224 million (pretax) in net cash over a 10 year life of mine.
Australian Market Report of February 10, 2011 includes: Calzada (ASX:CZD) announced positive results in human stem cell study for bone growth; PharmAust Limited (ASX:PAA) is to acquire a European high grade precious and base metal project; Northern Star Resources (ASX:NST) announced strong gold production results in Western Australia; Latin Resources Limited (ASX:LRS) is to acquire 14,068 hectares of world class Iron and Heavy Mineral Sands tenements in Peru.
Kimberley Metals Limited (ASX:KBL) has reached an agreement with TNG Resources Limited (ASX:TNG) by which the Sorby Hills Joint Venturers (Kimberley 75%, Henan Yuguang Gold & Lead Co. Ltd (SHA:600531) through its Australian subsidiary 25%) may earn up to an 80% interest in TNG's Manbarrum Project.
Anglo Australian Resources NL (ASX:AAR) (PINK:AAURF) is pleased to announce the results from its latest RC drilling program of 1,435m at the Feysville Project. Drilling targeted extensions of supergene mineralisation at Rogan Josh and possible extensions to the discovery intersection of 6m @ 9.08g/t Au at the Dalray prospect.
Australian Market Report of January 31, 2011 includes: China National Offshore Oil Company Limited (HKG:0883) (NYSE:CEO) has approved the Project Investment and the Overall Development Plan for the development of the three oil fields in China; Copper Strike Limited (ASX:CSE) signed agreements with China to fund multi-deposit project in North Queensland; Jupiter raises A$150 million to advance mining projects in South Africa and Australia; Viralytics Limited (ASX:VLA) (PINK:VRACY) has received Chinese notice for the grant of a patent involving of the use of CAVATAKTM RNA as an anti-cancer agent in human melanoma.
Anglo Australian Resources NL (ASX:AAR) (PINK:AAURF) hereby advise that Mr Christopher H Fyson, a founding director and shareholder of the Company, has been appointed Chairman of Directors.
