FerrAus Limited (ASX:FRS) (PINK:FRRAF) today announced its maiden iron ore reserve estimate of 126 million tonnes at 57.3 per cent Fe for the FerrAus Pilbara Project in Western Australia.
FerrAus Limited (ASX:FRS) (PINK:FRRAF) today released the results of the Pre Feasibility Study (PFS) of the FerrAus Pilbara Project in Western Australia and approved the commencement of a Definitive Feasibility Study (DFS).
Australian Market Report of November 11, 2010 includes: Southern Hemisphere Mining Limited (ASX:SUH) reported positive sampling results from its copper and copper-gold projects in Chile; Ishine International Resources Limited (ASX:ISH) has commenced 1,300 metre Reverse Circulation drilling at the Mt Watson Copper Project in Queensland; NT Resources Limited (ASX:NTR) received high grade gold results from the Acacia Project in Northern Territory; Platina Resources Limited (ASX:PGM) announced Australia's best ever scandium intersection at Owendale Project in NSW.
FerrAus Limited (ASX:FRS) (PINK:FRRAF) advises that it has received an unsolicited, conditional proposal from a wholly owned subsidiary of Wah Nam International Holdings Limited (HKG:0159) to acquire all of the ordinary shares of FerrAus not currently held by Wah Nam, by way of an off market takeover offer.
A second phase of drilling has commenced at Metallica Minerals's (ASX:MLM) wholly owned Greenvale nickel-cobalt mine site approximately 170km NW of Townsville in northern Queensland. The drilling is aimed at identifying additional Nickel-Cobalt resources outside the current resource boundaries. To date 175 RC and Aircore holes have been drilled at Greenvale for 4,000m of which assay results have been received for the first 100 holes (GVM418 to 517).
A$2.5 Million Placement made with Convergence Capital Corporation Victory West Moly Limited (ASX:VWM) is pleased to announce the placement of 20,833,333 new fully paid ordinary shares at a price of A$0.12 per share to raise A$2.5 million. The shares are being placed with Convergence Capital Corporation and or its sophisticated and institutional investors. These additional funds will strengthen the company's cash position as it finalises due diligence on the previously announced DSO Nickel acquisition.
Mukuba Resources Limited (CVE:MKU) (PINK:MKBAF) is pleased to announce that it has mobilized a drill rig to undertake a program of diamond drilling across the Chipirinyuma prospect within the Nyimba Project Area located east of Lusaka, Zambia.
