Asian Activities Report for April 15, 2011: Wasabi Energy (ASX:WAS) Commence Construction Of Kalina Cycle(R) Facility In China
Aurora Minerals Limited (ASX:ARM) has commenced drilling on two areas within its large Capricorn Southeast Manganese Project in Western Australia. Drilling will focus on "Mango" Targets where previous higher grade manganese intersections have been reported including 2m at 30.6% Mn and 2m at 30.7% Mn. The adjacent Dooley Downs Copper Target will also be drilled. The two drill programs are expected to take approximately 3-5 weeks.
Shaw River Resources Limited (ASX:SRR) is to raise up to A$25 million through a placement of 125 million shares to sophisticated and professional investors. The funds will be used to develop the Company's manganese assets in Namibia, Australia and Ghana. This will include the commencement of an extensive infill drilling program and a feasibility study in May 2011 on Otjozondu manganese project in Namibia with a view to bringing the project into production in 2012.
Avanco Resources Limited (ASX:AVB) said today that Vale SA (NYSE:VALE) has commenced drilling at Avanco Resources' 100% Trindade North Iron Ore Project in Brazil. Four rigs are currently operational and early exploration appears very encouraging with significant widths of Banded Iron Formation recorded in drill core. The Commencement of drilling follows a cooperation agreement signed between the two companies, whereby Vale has been granted exclusive rights to explore Trindade North. The agreement has potential to generate payments of between A$10m and A$40m to Avanco.
Wasabi Energy Limited
Shaw River Manganese Limited
Avanco Resources Limited
Aurora Minerals Limited