Linc Energy Limited (ASX:LNC) (PINK:LNCGY) has become aware of the media and market speculation overnight as a consequence of an article published in The Economic Times in India regarding an impending sale of one of Linc Energy's non-core assets in Queensland to Adani Enterprises.
Coalspur Mines Limited (ASX:CPL) (PINK:CSPZF) is pleased to announce that the Company has commenced work on a mining Pre-Feasibility Study at the Company's newly renamed Vista Coal Project located near Hinton, Alberta, Canada.
Australian market fell on Wednesday led by financial and energy stocks with low trading volume during the session. The gains in US and Europe markets in previous session fail to inspired investors as they feared more disappointing US economic data could come out.
Australian miner Cockatoo Coal (ASX:COK) has teamed up with Electricity monopoly Korea Electric Power Corporation (KEPCO) (SEO:015760) and Korean steel maker POSCO (SEO:005490) to develop five mines acquired from UK mining company Anglo American (LON:AAL), including two underground coal deposits in New South Wales, and three open-cut coal deposits in Queensland. These undeveloped mines have a total estimated resource of 847-million tons.
The Australian shares rebounded strongly from early losses on Tuesday, helped by the Reserve Bank of Australia's decision to keep interest rates steady at 4.5 per cent. At the close, the benchmark S&P/ASX200 index was 54 points, or 1.3 per cent higher, at 4276.1, after hitting a 12-month low at opening. The broader All Ordinaries index gained 49.1 points, or 1.2 per cent, to 4299.7.
Carpentaria Exploration Limited (ASX:CAP) announced today a positive start to drilling at the Hughenden Export Thermal Coal Project (Carpentaria interest: 20%), with the first drill hole intersecting coal interpreted as being from the Betts Creek Beds of the Galilee Basin at shallower depths than previously interpreted.
A boost in resources stocks on Friday helped to break the eight-day losing streak in Australian stocks market. The local market finished marginally higher at the close, despite the proposed new minerals resources rent tax sparked a strong gain in early trade. This is largely due to Investors' refocuse on global economy issues.
