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Distributed: May 20, 2011

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Sydney, May 20, 2011 (ABN Newswire) - Australian shares opened lower, with resources stocks weighing on the market after falls in commodity prices. In early trade, the S&P/ASX200 index was down 20.9 points, to 4735.5, while the All Ordinaries index was down 18.1 points to 4810.1.

However, most other major Asian markets enjoyed a positive opening. Nikkei 225 jumped up 0.33% to 9,652.50. Hang Seng Index rose 0.16% to 23199.59 and Shanghai Composite inched up 0.03% to 2860.39.

Companies

Indo Mines Limited (ASX:IDO) said today that its coal production at the Mangkok Coal Project in Indonesia is now consistently achieving about 25,000 tonnes per month and the Company has revised its mine plan to target production of about 35,000 tonnes per month. The Company is also continuing exploration activities across other significant coal assets in Indonesia.

Avanco Resources Limited (ASX:AVB) reported that drilling at Serra Verde Project has returned excellent results. A massive sulphide copper intersect returned 0.75m at 18.94% Cu, confirming that the area is prospective for high grade copper mineralisation. The Company will continue to target a substantial iron-oxide-copper-gold deposits in the area.

ERO Mining Limited (ASX:ERO) has commenced an initial sonic drilling program at its Wertaloona Lithium Project in South Australia. The drilling program comprises two drillholes totalling approximately 300 metres, located in close proximity to historical holes drilled in the 1970s where significant lithium levels were encountered.

Kentor Gold Limited (ASX:KGL) said today that the development of Andash Copper-Gold Project in the Kyrgyz Republic remains the Company's key focus and significant progress has been made in completing the detailed design and preparing for construction. Kentor remains optimistic that the Project will become one of the world's lowest production cost gold projects.


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  Related Companies

>>>              Avanco Resources Limited
>>>       ERO Mining Limited
>>>           Indo Mines Limited
>>>           KGL Resources Limited

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Metals | Energy General | Financial General | Materials General | Mining | Australian Economy | Gold | Copper | Iron Ore | Lithium | Coal | Market Reports | 

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Avanco Resources Limited
2011.10.17  12:00 Asian Activities Report for October 17, 2011: International Coal Limited (ASX:ICX) Expands Coal Drilling Programme at South Blackall Project
2011.04.15  12:00 Asian Activities Report for April 15, 2011: Wasabi Energy (ASX:WAS) Commence Construction Of Kalina Cycle(R) Facility In China
2011.04.14  12:01 Asian Activities Report for April 14, 2011: DataMotion Asia Pacific (ASX:DMN) To Commence Drilling On M12 Rare Earth Elements Target In April
2011.03.21  12:00 Australian Market Report of March 21, 2011: Shaw River (ASX:SRR) Announce 6.8Mt Maiden Inferred Resource At Otjozondu Manganese Project In Namibia
2011.01.13  13:30 Australian Market Report of January 13, 2011: Mindoro (ASX:MDO) Announce Significant Nickel Intersections in the Philippines
ERO Mining Limited
2007.11.30  08:35 ERO Mining Limited Audio WebCast  Eromanga Uranium Limited ASX: ERO - 2007 Annual General Meeting - Mr Robert Kennedy, Chairman And Mr Kevin Lines, MD
2007.03.09  10:45 Eromanga Discovers Large Channel System in S.A. - Potential For Multiple Uranium Deposits
2006.12.14  13:01 Eromanga Begins Electro Magnetic Aerial Survey to Identify Uranium Targets
2006.10.31  18:54 Eronamga Joins ASX and Sets Mid November Start Date For First Uranium Exploration
2006.10.06  10:31 Eromanga Uranium Ltd's Uranium Float Passes A$10M Minimum
Indo Mines Limited
2010.12.16  13:30 Australian Market Report of December 16, 2010: Indo Mines (ASX:IDO) to Commence Commercial Trials of Iron Concentrate Production In 2011
2006.09.28  12:08 Indo Mines Earns 30% Interest in Ironsands Pig Iron Project; Yogyakarta, Indonesia
2006.09.28  06:56 Indo Mines Announces Completion of JORC Compliance Statements; Yogyakarta Pig Iron in Indonesia
2006.07.17  20:34 Indo Mines Report Further Gold Intercepts at Northern Peru Copper Corp's Hilorico Gold Project in Peru
2006.07.12  13:11 Indo Mines Announce IronSands PigIron is JORC Compliant

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