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Distributed: May 18, 2011

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Sydney, May 18, 2011 (ABN Newswire) - The Australian sharemarket opened flat in early trade. The S&P/ASX200 index was up 0.1% to 4688.2, while the All Ordinaries index inched up 0.1% to 4756.6. In other parts of our region, Nikkei 225 jumped 0.85% to 9,648.48 in early session. Hang Seng Index rose slightly, up 0.15% to 22935.94, while Shanghai Composite fell 0.25% to 2845.51.

Companies

Australia Minerals and Mining Group Limited (ASX:AKA) today announced the Constance Range Iron Ore Alliance with Viento Group Limited (ASX:VIE), Icon Resources Limited (ASX:III) and Resolve Geo Pty Limited for the development of 92 kilometres of prospective iron ore formation in Queensland. The Alliance will allow Australia Minerals and Mining Group to confidently approach potential overseas markets, particularly China.

Uranex NL (ASX:UNX) announced substantial high grade uranium intersections at the Mkuju Uranium Project in Tanzania. Substantial thickness and grade of uranium were returned and the known mineralisation is extended to the south. The Company will mobilise additional rigs to accelerate the drilling program.

MEO Australia Limited (ASX:MEO) has completed Heron gas discovery farm-out agreement with Eni Australia Limited, whereby Eni will be the Operator and earn 50% interest by funding the drilling of two wells. Following successful appraisal of the gas discovery, the two parties will evaluate all potential commercialisation paths for the resources.

Zambezi Resources Limited (ASX:ZRL) has commenced a A$3.5 million diamond drilling programme at its Kangaluwi Copper Project in Zambia. The campaign is designed to convert the resources at Chisawa Prospect into the Measured Resource category. Four diamond holes have been finished to-date, each encountering significant copper intersections.


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  Related Companies

>>>              Australia Minerals and Mining Group Limited
>>>           Icon Resources Ltd
>>>         MEO Australia Limited
>>>              Uranex Limited
>>>       Viento Group Limited
>>>       Zambezi Resources Limited

  Related Industry Topics:

Gas & Oil | Metals | Energy General | Financial General | Mining | Australian Economy | Copper | Iron Ore | Uranium | Market Reports | 

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Australia Minerals and Mining Group Limited
2011.09.06  12:00 Asian Activities Report for September 6, 2011: Australia Minerals and Mining Group (ASX:AKA) Successfully Produced Alumina from 150 Million Tonne Kaolin Resource
2011.08.24  12:00 Asian Activities Report for August 24, 2011: TVN Corporation (ASX:TVN) Drilling Update at the Nuurst Coal Project in Mongolia
2011.03.03  12:10 Australian Market Report of March 3, 2011: Australia Minerals and Mining Group (ASX:AKA) Announce 30.9Mt Maiden Gypsum Resource In Western Australia
Icon Resources Ltd
2010.10.15  13:30 Australian Market Report of October 15, 2010: Dragon Energy Limited (ASX:DLE) Announces Manganese And Iron Discoveries At Lee Steere Project
2010.08.12  15:13 Icon Resources Ltd Video WebCast  FINANCE VIDEO: Icon Resources (ASX:III) MD John Bishop Speaks at The China-Australia Resources Summit 2010
2010.08.10  14:00 Icon Resources Limited (ASX:III) Presents At Symposium China-Australia Resources Summit, Melbourne
2010.04.23  15:50 Icon Resources Ltd Video WebCast  FINANCE VIDEO: Icon Resources (ASX:III) MD John Bishop Speaks with Brian Carlton at Symposium
2009.12.07  10:19 20:20 Investor Series Christmas Event - Connecting Industrty With Investment, 10 December 2009
MEO Australia Limited
2013.09.03  09:54 MEO Australia Limited (ASX:MEO) MEO Corporate Resource Update and Quantative Assessment of Discoveries within Portfolio
2013.08.27  09:40 MEO Australia Limited (ASX:MEO) Withdraws from NT/P79 Exploration Permit
2013.08.19  09:36 MEO Australia Limited (ASX:MEO) Ashmore Cartier Region Update
2013.08.09  09:43 MEO Australia Limited (ASX:MEO) Gulf of Thailand update
2013.07.23  09:55 MEO Australia Limited (ASX:MEO) Quarterly activities summary for Period ended 30th June 2013

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