Asian Activities Report for October 12, 2011: Fortescue Metals Group (ASX:FMG) Increases Total Iron Ore Resource Inventory to 11.42 Billion Tonnes
Credo Resources Limited (ASX:CRQ) has entered into an agreement to acquire a 100% interest in Riverglide Investments Pty Ltd, which holds extensive interests in gold permits in Burkina Faso. These permits are all located in a proven world class gold province. The Company plans to rapidly evaluate a number of permits and targets whilst drill test the known gold workings.
Carnarvon Petroleum Limited (ASX:CVN), together with its joint venture partner Pan Orient Energy (CVE:POE), says that NSE-F6 Development Well located onshore Thailand has been successfully drilled and is currently on production at a rate of approximately 1,000 bopd gross. This is the first high rate well drilled at the NSE-F1 field and the joint venture will pursue three follow-up appraisal wells prior to year end.
Unity Mining Limited (ASX:UML) has signed an agreement to farm into the Firetower exploration project held by Greatland Gold plc (LON:GGP). The farm-in agreement will enable Unity Mining to leverage experience in Tasmanian gold exploration on a substantially increased ground position, and reinforces its strong commitment to gold exploration and production in Tasmania. Unity Mining may earn up to a 75% interest by spending A$7 million over 5.5 years.
Vault Intelligence Ltd
Unity Mining Limited
Pan Orient Energy Corp.
Greatland Gold plc
Fortescue Metals Group Ltd
Carnarvon Petroleum Limited