Toro Energy Ltd (ASX:TOE) says it is commencing its first round of offtake agreement negotiations with international buyers for uranium oxide product from its Wiluna project in Western Australia, which is expected to see a maiden production from early 2013.
The Australian market rebounded to above 5000 points today after Wall Street gained on hope of upbeat US corporate earnings. On Wednesday, investors would look to consumer sentiment data from Wespac and Melbourne Institute. The local market fell back to below the 5000 points level on a weaker performance in Asian markets. Today Asian shares were mostly higher following the positive lead from Wall Street.
OZ Minerals Limited (ASX:OZL) and IMX Resources Limited (ASX:IXR) have signed an Exploration Joint Venture Agreement to form a joint venture to explore for, and facilitate the development of, copper-gold projects on IMX's Mt Woods tenements in South Australia. OZ Minerals, which holds a 13 percent stake in IMX, has an immediate 51 per cent interest in the joint venture.
Overnight US markets was higher, helped by the healthcare sector after Senate's initial procedural vote to advance a healthcare reform bill. Alcoa and Intel shares also led the top gainers while their investment ratings were upgraded.
US stocks closed higher overnight as Dubai World said it was in discussions with banks to restructure US$26 billion in debt and the talks were proceeding on a constructive basis. Global markets strongly rebounded yesterday as investors realised that Dubai's trouble might be a regional problem.
All the key markets in Asia were hurt by the debt problem of Dubai today. Japan's key Nikkei stock index opened nearly 2 percent lower Friday while Hong Kong's Hang Seng Index declined about 3 per cent at opening with banks which are exposed to overseas assets tumbled massively.
Silver Grant International Industries Limited (HKG:0171)(PINK:SLGVF) today announced its entering into a subscription agreement with CGNPC International Limited. CGNPC International Limited will subscribe for 364,140,000 shares, representing for 20% shares of the Company, at HK$2.00 per share. Upon the completion, CGNPC International Limited will represent approximately 16.67% of the enlarged issue share of the Company.
