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    <description><![CDATA[Asia Business News]]></description>
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    <lastBuildDate>Wed, 22 May 2013 10:00:05 </lastBuildDate>
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<title><![CDATA[ Peak Resources Limited (ASX:PEK) Produces First High Purity Rare Earth Products ]]></title>
<tags></tags>
<guid>en75227</guid>
<hasDetail>Y</hasDetail>
<link>http://www.abnnewswire.net/press/en/75227/</link>
<pubDate>Wed, 22 May 2013 08:27:39 GMT+10:00</pubDate>
<description><![CDATA[ <img src="http://media.abnnewswire.net/topimg/en/75227_01_t.jpg" border="0" align="left" HSPACE="2" VSPACE="2"> Peak Resources Limited (ASX:PEK) (OTCQX:PKRLY) is rapidly progressing the development of its 100% owned Ngualla Rare Earth Project in Tanzania. Ngualla is on track to become the next major rare earth supplier with high grade mineralisation and a simple, proven metallurgical process supporting a low cost operation. <br /><br />Peak is pleased to announce the completion of a significant milestone with the production of two refined rare earth products at ANSTO Minerals (Australian Nuclear Science and Technology Organisation) that are in saleable form and available for evaluation by target customers.<br /><br />The work includes the first of four separated high purity rare earth oxide products from the Solvent Extraction (SX) Pilot Plant now in operation at ANSTO.<br /><br />Highlights:<br /><br />The rare earth products completed to date are:<br /><br />- - An ultra-high purity (99.9%)* mid and heavy rare earth oxide (M+HREO)<br />- - A high purity (>99%) rare earth carbonate with a grade of 56% REO<br /><br />These samples are now available for evaluation by target customers The SX Pilot Plant work is progressing well with three additional separated rare earth oxide samples to be produced successively over the coming months. A high purity didymium oxide (a neodymium - praseodymium mix) sample is expected in June, followed by cerium oxide and finally a lanthanum oxide. <br /><br />*Assays by weight excluding water and volatiles (LOI)<br /><br />The successful production of a separated high purity rare earth oxide from a bulk sample of mineralisation places Ngualla amongst a select few projects to have achieved this milestone. The ability to produce separated high purity rare earth oxide adds significant value to the project and allows access to wider markets for Ngualla's products.<br /><br />Peak's Chairman, Alastair Hunter said "The successful production of these products of such high quality is an achievement very few other companies have made and we are hopeful they will exceed the expectations of any future off take customers. This work is well within the required specifications and demonstrates Peak's commitment to drive the development of the Ngualla Project forward."<br /><br />Technical Report<br /><br />Two high purity rare earth products have been produced at ANSTO Minerals from a 1.3 tonne bulk sample of weathered Bastnaesite Zone mineralisation from Ngualla using the simple sulphuric acid leach recovery process:<br /><br />1. The first of four separated products - a mid and heavy rare earth oxide mix (M+HREO) - has been produced by the SX Pilot Plant currently in operation.<br />2. A high purity rare earth carbonate has also been precipitated from the feed chloride solution and assayed.<br /><br />Both samples are available for assessment by potential off take customers.<br /><br />Mid and Heavy Rare Earth Oxide<br /><br />The SX Pilot Plant has successfully produced its first product - an ultra-high grade mid and heavy rare earth oxide. With a purity of 99.9% REO this product (Photo 1, Table 1 in link below) is expected to exceed the requirements of off take customers.<br /><br />This product is a mix of samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, lutetium and yttrium as oxides. This high value M+HREO product is expected to contribute approximately 23% of the total value of Ngualla's rare earth production as defined by the December 2012 Scoping Study (Table 2 in link below).<br /><br />As Table 2 illustrates, the value drivers for Ngualla are the Nd/Pr Oxide and Mid+Heavy high purity oxide products. These include the higher value 'Critical RE's' forecast to be in undersupply. 75% of the projected annual revenue (December 2012 Scoping Study) will be derived from the two high purity products. The lower value cerium and lanthanum oxides are relative by-products at only 25% of the total revenue. <br /><br />The SX Pilot Plant work is progressing well with three additional separated rare earth oxide samples to be produced successively over the coming months. A high purity didymium oxide (a neodymium/praseodymium oxide mix) product is scheduled in June, to be followed by lanthanum oxide and finally a cerium oxide product.<br /><br />Rare Earth Carbonate<br /><br />Following the successful verification of the acid leach recovery process at ANSTO (ASX announcement 13th March 2013), a high purity mixed rare earth carbonate has been produced (Photo 2). The carbonate was precipitated directly from the rare earth chloride solution (Figure 1) used as the feed for the SX Pilot Plant which was produced from a bulk sample of Ngualla mineralisation.<br /><br />Assay results of this carbonate (Table 3) have now been received and indicate a high purity (>99%) rare earth carbonate with a rare earth content of 56% REO and less than 1% impurity metals present. Most importantly, the radioactive elements, thorium and uranium, are extremely low, being below detection limits.<br /><br />The Pre-Feasibility Study now in progress will assess the potential benefits of locating the beneficiation and acid leach recovery process units (Figure 1) at the Ngualla mine site and the solvent extraction separation plant located off site, closer to infrastructure, utility and port facilities. In this case, an intermediate mixed rare earth carbonate concentrate would be produced on site at Ngualla to be efficiently transported in this inert, high purity form to the solvent extraction plant for the production of the separated rare earth oxides. The purity of the carbonate and absence of radioactive elements indicate that no special permits will be required for the handling or transportation of this intermediate product from Ngualla to the separation plant.<br /><br />Peak also retains the option to sell some of this high purity rare earth carbonate product directly to a third party for separation and samples are available for evaluation by potential customers.<br /><br />About the Ngualla Rare Earth Project:<br /><br />The Ngualla Rare Earth Project in Tanzania is a recent discovery and is the highest grade of the large undeveloped rare earth deposits.<br /><br />Fundamental geological aspects of the central Bastnaesite Zone targeted for first production offer distinct advantages for development over other rare earth projects. These include the large size of the deposit, outcropping, high grade mineralisation suitable to open cut mining with low strip ratios, favourable mineralogy amenable to a simple, low cost processing route and the lowest uranium and thorium levels of any major rare earth deposit in the world.<br /><br />The favourable characteristics are reflected in the outcomes of the Scoping Study and preliminary economic assessment released on 3rd December 2012, which defined very low capital and operating costs compared to other rare earth projects.<br /><br />Ngualla is a leading rare earth project with an estimated NPV of US$1.57 billion and pre-tax IRR of 53% for an initial 25 years production and an average grade of 4.35% REO (refer ASX release dated 3rd December 2012).<br /><br />An update to the December 2012 Scoping Study is nearing completion and will incorporate enhanced beneficiation processes from recent test work and a revised mining schedule based on the new, higher grade and increased resource model completed in April 2013.<br /><br />Peak is moving forward with discussions to finalise a binding agreement with a strategic partner that is anticipated to see Ngualla fully funded through to production.<br /><br />The Company continues to fast track the development of Ngualla with the aim of becoming a low cost, long term producer of high purity rare earth oxide products in 2016.<br /><br />For tables, photos and diagrams, please visit:<br />http://media.abnnewswire.net/media/en/docs/ASX-PEK-636310.pdf<br /><p><pre>Peak Resources Limited
T: +61-8-9200-5360
F: +61-8-9226-3831
WWW: www.peakresources.com.au 
</pre></p> ]]></description>
      <author>newsroom@abnnewswire.net</author>
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<title><![CDATA[ Buccaneer Energy Limited (ASX:BCC) Cosmo No 1 - Progress Report  ]]></title>
<tags></tags>
<guid>en75220</guid>
<hasDetail>Y</hasDetail>
<link>http://www.abnnewswire.net/press/en/75220/</link>
<pubDate>Tue, 21 May 2013 11:04:49 GMT+10:00</pubDate>
<description><![CDATA[ <img src="http://media.abnnewswire.net/topimg/en/65242_01_t.jpg" border="0" align="left" HSPACE="2" VSPACE="2"> Buccaneer Energy Limited (ASX:BCC) (OTCMKTS:BCGYF) is pleased to provide the following update on the progress of the 100% owned Cosmo # 1 well:<br /><br />Time: 9.00am (Sydney) 21 May 2013 / 3.00pm (Anchorage) 20 May 2013.<br />Depth: 800' Total Vertical Depth ("TVD")<br />Activity: Surface casing run and cemented in place, preparing to drill ahead.<br /><br />Well Plan:<br /><br />The Cosmo # 1 well is a vertical well that has a targeted Total Depth of 8,000' ("TD"), the well is anticipated to take approximately 45 days to drill and test.<br /><br />Surface casing will be set at 800' after which the well will be drilled to the top of the Tyonek Formation ("Tyonek") at 2,000' where casing will again be set. The Tyonek zone is expected to hold multiple prospective gas zones down to 6,000'.<br /><br />Casing will be set at approximately 6,000' before drilling through the proven oil bearing Starichkof and Hemlock formations, and will target depth after drilling the prospective West Foreland Formation. The current plan is to take oil cores in the oil formations to augment the reservoir data to further optimize the future oil plan of development. At this stage it is not planned to flow test the oil formations.<br /><br />On completion of drilling and logging operations the well will be plugged back to the bottom of the Tyonek gas formation. Gas zones within the Tyonek Formation that are identified as potentially commercial through drilling and logging will then be perforated and flow tested. The well will then be temporary abandoned as a future gas producer.<p><pre>Buccaneer Energy Limited
T: +61-2-9233-2520
F: +61-2-9233-2530
WWW: www.buccenergy.com
</pre></p> ]]></description>
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<title><![CDATA[ Toro Energy Limited (ASX:TOE) Toro Farms Out Potash Stake in Lake Mackay Region of WA ]]></title>
<tags></tags>
<guid>en75217</guid>
<hasDetail>Y</hasDetail>
<link>http://www.abnnewswire.net/press/en/75217/</link>
<pubDate>Tue, 21 May 2013 09:59:31 GMT+10:00</pubDate>
<description><![CDATA[ <img src="http://media.abnnewswire.net/topimg/en/63210_01_t.jpg" border="0" align="left" HSPACE="2" VSPACE="2"> Uranium developer, Toro Energy Limited (ASX:TOE) (OTCMKTS:TOEYF) is pleased to announce the Company has signed a binding Heads of Agreement ("HoA") with Rum Jungle Resources Ltd (ASX:RUM) in which Rum will farm into Toro's rights for potash and related evaporite minerals over Lake Mackay, on the Northern Territory-Western Australia border.<br /><br />The agreement covers the lake surface within four primarily uranium prospective Exploration Licenses (E80/3484, 3485, 3486 and 3519), covering 420 square kilometres (Figure 1 in link below).<br /><br />Toro's previous shallow drilling has confirmed the presence of brine in the lake subsurface, with potassium, magnesium and sulphur concentrations similar to other potash brine systems in central Australia and overseas. Rum's objective is to drill deeper to assess the potential for a sustainable potash resource.<br /><br />The key terms of the farm out as set out in a formal HoA are:<br /><br />- Rum to spend a minimum of $250,000 in Year 1, drilling the lake to earn a 51% interest in Lake Mackay's potash and other evaporite minerals. Toro can then elect to contribute pro rata to further exploration or;<br /><br />- Rum to spend a further $750,000 in Years 2 and 3 to increase its interest to 80%, at which point Toro can elect to maintain its 20% interest and contribute to further expenditure.<br /><br />- If either party dilutes below 5%, their interest will be converted to a 2% royalty.<br /><br />- Toro will retain all other mineral rights, including uranium.<br /><br />- The agreement is subject to execution of formal joint venture agreements and carrying out due diligence.<br /><br />Toro Managing Director, Dr Vanessa Guthrie, said today the HoA would allow the exploration momentum to be continued at Lake Mackay in a manner which provided some capital efficiency to Toro over the tenements. This is consistent with Toro's strategy of developing a pipeline of highly prospective uranium exploration tenements to support the company's growth strategy.<br /><br />To view the location map, please visit:<br />http://media.abnnewswire.net/media/en/docs/ASX-TOE-736323.pdf<br /><p><pre>Toro Energy Limited
T: +61-8-8132-5600
F: +61-8-8362-6655
WWW: www.toroenergy.com.au
</pre></p> ]]></description>
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<title><![CDATA[ Rum Jungle Resources Limited (ASX:RUM) Lake Mackay Joint Venture Signed with Toro Energy (ASX:TOE) ]]></title>
<tags></tags>
<guid>en75215</guid>
<hasDetail>Y</hasDetail>
<link>http://www.abnnewswire.net/press/en/75215/</link>
<pubDate>Tue, 21 May 2013 09:58:25 GMT+10:00</pubDate>
<description><![CDATA[ <img src="http://media.abnnewswire.net/topimg/en/64854_01_t.jpg" border="0" align="left" HSPACE="2" VSPACE="2"> Rum Jungle Resources Ltd (ASX:RUM) is pleased to announce that it has signed a binding Heads of Agreement with Toro Energy Ltd (ASX:TOE) (OTCMKTS:TOEYF) to explore for potash and related evaporate minerals contained within lake brines on the southern section of the vast area of Lake Mackay in W.A. The four Exploration Licenses (E80/3484, E80/3485, E80/3486 and E80/3519) cover over 400 square kilometres of lake surface.<br /><br />Previous shallow drilling by Toro to one meter depth has confirmed recovery of brine in the lake subsurface with contents of potassium, magnesium and sulphur similar to other potash rich brine systems in the area and overseas. The brine has the potential to produce schoenite, epsonite and sulphate of potash, similar to Rum's Karinga Lakes Project in the NT.<br /><br />Rum's recently acquired Lake Hopkins project is strategically located between Lake Mackay and the Karinga Lakes Project (See figure 2 in link below), should the possibility of linking up any brine resources exist.<br /><br />Toro enjoys a good working relationship with aboriginal land owners and have a land access agreement in place which will allow Rum to access the lake in the current field season and drill sufficient deeper holes, which have been approved, to determine a maiden resource within the Toro tenements.<br /><br />Terms of the Joint Venture are as follows:<br /><br />1. Rum to spend a minimum $250,000 in Year 1 drilling the lake and estimating a maiden resource to earn a 51% interest in the potash minerals. Toro can elect to contribute pro rata to further exploration,or;<br /><br />2. Rum to spend another $750,000 in years 2 and 3 to increase interest to 80% at which point Toro can elect to hold its 20% interest and contribute to further expenditure.<br /><br />3. If either party dilute below 5% their interest will be converted to a 2% royalty.<br /><br />4. Toro will retain all uranium rights.<br /><br />5. The agreement is subject to Rum preparing formal agreements and carrying out due diligence within 30 days.<br /><br />To view location maps and figures, please visit:<br />http://media.abnnewswire.net/media/en/docs/ASX-RUM-389928.pdf<p><pre>Rum Jungle Resources Limited
T: +61-8-8942-0385
F: +61-8-8942-0318
WWW: www.rumjungleresources.com.au
</pre></p> ]]></description>
      <author>newsroom@abnnewswire.net</author>
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<title><![CDATA[ Investigator Resources (ASX:IVR) Presentation at Australia China Minerals Investment Summit, Darwin 21 -23 May 2013 ]]></title>
<tags></tags>
<guid>en75221</guid>
<hasDetail>Y</hasDetail>
<link>http://www.abnnewswire.net/press/en/75221/</link>
<pubDate>Tue, 21 May 2013 09:50:39 GMT+10:00</pubDate>
<description><![CDATA[ <img src="http://media.abnnewswire.net/topimg/en/69345_01_t.jpg" border="0" align="left" HSPACE="2" VSPACE="2"> Investigator Resources (ASX:IVR) is an exploration company that is focussing on making greenfields Silver and Copper discoveries in South Australia with the objective of becoming a producer in a few years. <br /><br />For the past year Investigator has been drilling the Paris Silver Prospect, discovered in late 2011, with the aim of announcing a maiden resource estimate in the September quarter of 2013. Investigator is undertaking an aggressive and on-going exploration program capitalising on their new opportunities and good funding position.<br /><br />The drilling programs in the September quarter have a high potential to make more silver discoveries and show new copper potential in the tenements.<br /><br />To view the Presentation given to the Australia China Minerals Investment Summit, in Darwin by Managing Director, Mr John Anderson, please visit:<br /><br />http://media.abnnewswire.net/media/en/docs/75221-asx-ivr-201305.pdf<br /><p><pre>Mr John Anderson
Managing Director
Investigator Resources Limited
Phone: +61-7-3870-0357</pre></p> ]]></description>
      <author>newsroom@abnnewswire.net</author>
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<title><![CDATA[ Empire Energy (OTCMKTS:EEGC) Engages Wedgewood Investment Group of New York, to prepare a $998 Million Asset Backed Secured Bond ]]></title>
<tags></tags>
<guid>en75211</guid>
<hasDetail>Y</hasDetail>
<link>http://www.abnnewswire.net/press/en/75211/</link>
<pubDate>Mon, 20 May 2013 14:01:39 GMT+10:00</pubDate>
<description><![CDATA[ <img src="http://media.abnnewswire.net/topimg/en/75209_01_t.jpg" border="0" align="left" HSPACE="2" VSPACE="2"> Empire Energy Corporation International (OTCMKTS:EEGC), announced today the engagement of Wedgewood Investment Group of New York effective May 16, 2013. <br /><br />Wedgewood has been retained to prepare the documentation and filings to produce a secured, asset backed, 5 year Bond in the amount of Nine Hundred and Ninety Eight Million ($998,000,000.) dollars, bearing a 7% coupon. The asset being used to secure the Bond is identified in the Senergy, Competent Persons Report (CPR), a copy of which is available on Empire's website. The completed package will include; Due Diligence, Preparation of the PPM and Prospectus, Legal Review, Placement Agent appointment, the Filing of the 144A, Registration of ISN and CUSIP Numbers, Transfer Agent appointment and preparation of documentation for listing the Bond on an exchange.<br /><br />Malcolm Bendall, CEO of Empire Energy stated; ""We have taken this route as part of our overall strategic plan to obtain the necessary additional funds to finally take our Tasmanian project to reality. We are pleased that the Asset Backed Bond is available to us as an alternative to trying to raise money through the public markets."<br />  <br />Under the terms of Wedgewood's engagement, the firm will be paid a retainer of $50,000.00 with the balance of $10,000.00 being paid on the delivery of the completed Bond package.<br /><br />Cautionary Note Regarding Forward-Looking Statements<br /><br />Safe Harbor: Pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934, any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals and assumptions of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this release may be identified through the use of words such as expects, will, anticipates, estimates, believes, or statements indicating certain actions such as "may," "could," or "might" occur. Such statements reflect the current views of Empire Energy with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Empire Energy Corporation International does not undertake any responsibility to update the "forward-looking" statements contained in this news release.<p><pre>EMPIRE ENERGY CORPORATION INTERNATIONAL
Website: www.empireenergy.com

Media:
MARSTON WEBB INTERNATIONAL
270 Madison Avenue
New York, New York 10016
Phone: (212) 684-6601
Fax: (212) 725-4709
Email: marwebint@cs.com
http://www.marstonwebb.com

WEDGEWOOD INVSTMENT GROUP LLC
http://www.wedgewoodinc.com
Inquiries: info@wedgewoodinc.com</pre></p> ]]></description>
      <author>newsroom@abnnewswire.net</author>
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<title><![CDATA[ Bauxite Resources Limited (ASX:BAU) Commencement of New Chief Executive Officer ]]></title>
<tags></tags>
<guid>en75210</guid>
<hasDetail>Y</hasDetail>
<link>http://www.abnnewswire.net/press/en/75210/</link>
<pubDate>Mon, 20 May 2013 13:39:41 GMT+10:00</pubDate>
<description><![CDATA[ <img src="http://media.abnnewswire.net/topimg/en/61691_01_t.jpg" border="0" align="left" HSPACE="2" VSPACE="2"> Bauxite Resources Ltd (ASX:BAU) refers to its announcement of 11 February 2013 regarding the appointment of Mr Peter Canterbury as Executive Director and Chief Executive Officer of the Company and advises he has commenced employment today.<br /><br />The Chairman Barry Carbon welcomed the arrival of Mr Canterbury and paid tribute to Sam Middlemas who was appointed Acting CEO whilst awaiting the arrival of Mr Canterbury.<br /><br />To View the Full Remuneration release, please visit:<br />http://media.abnnewswire.net/media/en/docs/ASX-BAU-636125.pdf<p><pre>Bauxite Resources Limited
T: +61-8-9200-8200
F: +61-8-9200-8299
WWW: www.bauxiteresources.com.au
</pre></p> ]]></description>
      <author>newsroom@abnnewswire.net</author>
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<title><![CDATA[ Empire Energy (OTCMKTS:EEGC) Announces the Appointment of Marston Webb as International Public and Investor Relations Consultant ]]></title>
<tags></tags>
<guid>en75209</guid>
<hasDetail>Y</hasDetail>
<link>http://www.abnnewswire.net/press/en/75209/</link>
<pubDate>Mon, 20 May 2013 10:04:35 GMT+10:00</pubDate>
<description><![CDATA[ <img src="http://media.abnnewswire.net/topimg/en/75209_01_t.jpg" border="0" align="left" HSPACE="2" VSPACE="2"> Empire Energy Corporation International (OTCMKTS:EEGC), has announced the engagement of Marston Webb International of New York effective May 16, 2013. The agency, which will assist the company in managing all aspects of its public and investor relations along with market awareness programs, brings to Empire Energy more than 30 years of relevant industry experience.<br /><br />In making the announcement today  Malcolm Bendall, CEO of Empire energy  said the board had made considerable progress in consolidating its global business and in positioning the company to take the fullest advantage of its present and future oil and gas exploration and exploitation.<br /><br />Malcolm Bendall, CEO of Empire Energy commented; "It is our intention to keep investors fully acquainted with our progress and the excitement we feel about the future of our company. We are very pleased and feel fortunate to have been able to retain such an internationally known firm to represent our company to assist us in building reputation and awareness on a global basis. Our board looks forward to working with Marston Webb," he said<br /><br />Under the terms of Marston Webb's engagement, the firm will be paid a retainer of $15,000.00 and a monthly fee of $10,000.00 The Agency will not be granted stock options or common shares of the Company under this agreement.<br /><br />Cautionary Note Regarding Forward-Looking Statements<br /><br />Safe Harbor: Pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934, any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals and assumptions of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this release may be identified through the use of words such as expects, will, anticipates, estimates, believes, or statements indicating certain actions such as "may," "could," or "might" occur. Such statements reflect the current views of Empire Energy with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Empire Energy Corporation International does not undertake any responsibility to update the "forward-looking" statements contained in this news release.<p><pre>Empire Energy Corporation International 
Website: www.empireenergy.com

MEDIA:
MARSTON WEBB INTERNATIONAL
270 Madison Avenue
New York, New York 10016
Phone: (212) 684-6601
Fax: (212) 725-4709
Email: marwebint@cs.com
http://www.marstonwebb.com</pre></p> ]]></description>
      <author>newsroom@abnnewswire.net</author>
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<title><![CDATA[ Minotaur Exploration Limited (ASX:MEP) Acquires Scotia Tenements from Breakaway ]]></title>
<tags></tags>
<guid>en75208</guid>
<hasDetail>Y</hasDetail>
<link>http://www.abnnewswire.net/press/en/75208/</link>
<pubDate>Mon, 20 May 2013 09:51:37 GMT+10:00</pubDate>
<description><![CDATA[ <img src="http://media.abnnewswire.net/topimg/en/73643_01_t.jpg" border="0" align="left" HSPACE="2" VSPACE="2"> Minotaur Exploration Ltd (ASX:MEP) and its wholly-owned subsidiary Minotaur Gold Solutions Ltd ('MinSol') have entered into a binding Sale and Purchase Deed ('Purchase Agreement') with Breakaway Resources Ltd (ASX:BRW) and its wholly owned subsidiary Scotia Nickel Pty Ltd ('Scotia Nickel') to acquire 14 tenements in Western Australia ('Scotia tenements').<br /><br />The Scotia tenements cover approximately 160km2 located about 65km north of Kalgoorlie, where Aphrodite Gold Limited (ASX:AQQ) is earning a joint venture interest of up to 80% in the gold rights and is required to keep all tenements in good standing. The Purchase Agreement provides for MinSol to purchase Scotia Nickel's interest in the joint venture and the Scotia tenements for total consideration of $600,000 (plus GST) payable in cash on completion. The Purchase Agreement is conditional on Aphrodite not exercising its pre-emptive right to purchase Scotia's interest in the joint venture.<br /><br />Upon transfer of the Scotia tenements and the joint venture interest, MinSol will acquire:<br />- 100% of the right to all minerals other than gold , and<br />- the right to no less than 20% of gold deposits which will be free carried unless and until a decision to mine any gold deposit is made. If a decision to mine is made, MinSol may elect to forego its interest in the gold mining area in consideration for receiving a royalty of 1.5% of the gold net smelter return.<br /><br />Two of the Scotia tenements (M24/279 and M24/336) are the subject of an overriding obligation to pay to St Ives Gold Mining Company Pty Ltd and Agnew Gold Mining Company Pty Ltd a royalty of $1.20 per dry tonne of ore milled from any gold mining operation.<br /><br />A further condition to completion of the Purchase Agreement is that each of Norilsk Nickel Australia Pty Ltd and Norilsk Nickel Avalon Pty Ltd must agree to convert certain rights over seven of the Scotia tenements into a 2.5% net smelter royalty on production of nickel, copper and platinum group elements (PGE) from the tenements.<br /><br />Completion of the Purchase Agreement is also subject to ministerial consent to transfer of the Scotia tenements.<br /><br />Minotaur considers the Scotia purchase to be a foundation step in its assembly of mineral prospective ground in WA and is specifically attracted by the gold potential at Chameleon and elsewhere on the tenements and its location proximal to AQQ's Aphrodite Gold Project.<br /><br />Gold intercepts reported by AQQ from drilling at Chameleon have included 12m @ 10.99g/t (66-78m, Hole CHR0001), 6m @ 4.48g/t (92-98m, Hole CHR0016) and 11m @ 2.05g/t Au (129-140m, Hole 0002). Excellent historic gold intercepts have also been achieved at Chameleon including 34m @ 3.59g/t from 124 metres, 22m @ 5.43g/t from 150 metres and 8m @ 3.39g/t from 202 metres. Further information is contained in AQQ's ASX releases of 2 and 30 August 2011 and 15 December 2011.<br /><br />The Scotia tenements fit neatly with Minotaur's ambition to establish a strategic presence in the Western Australian goldfields.<br /><br />To View Location Map, please visit:<br />http://media.abnnewswire.net/media/en/docs/ASX-MEP-736098.pdf<br /><p><pre>Minotaur Exploration Limited
T: +61-8-8366-6000
F: +61-8-8366-6001
E: admin@minotaurexploration.com.au
WWW: www.minotaurexploration.com.au
</pre></p> ]]></description>
      <author>newsroom@abnnewswire.net</author>
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<title><![CDATA[ Expanded opportunities for the Australian Business Sector ]]></title>
<tags></tags>
<guid>en75203</guid>
<hasDetail>Y</hasDetail>
<link>http://www.abnnewswire.net/press/en/75203/</link>
<pubDate>Thu, 16 May 2013 18:24:17 GMT+10:00</pubDate>
<description><![CDATA[ <img src="http://media.abnnewswire.net/topimg/en/73352_01_t.jpg" border="0" align="left" HSPACE="2" VSPACE="2"> Despite the global drop in foreign direct investment, China's ODI has been on the rise over the past five years, and China ranked as the fifth largest investor worldwide in 2012. At the Boao Forum for Asia Annual Conference 2013, President Xi Jinping said that China's accumulative ODI in the next five years will reach $500 billion, while the country set a target of 15 % for ODI growth in 2013.<br /><br />Within this context, the Chinese government will now raise the number of negotiations on investment protection agreements with foreign countries, and simplify & reduce administrative approval procedures related to outbound investment. Government officials in China have also recently pledged to improve delivery of services, simplify their procedures and initiate further negotiations with foreign governments to help Chinese companies to invest in overseas markets.<br /><br />Liu Hongkuan, Deputy Director of the National Development and Reform Commission's Department of Foreign Capital and Overseas Investment, said that the government will expand its role as a facilitator in the ongoing expansion of China's outbound direct investment.<br /><br />"The core task for the Chinese government is to create a convenient and smooth environment for domestic companies," said Zhao Jinping, a senior researcher with the Development Research Center of the State Council. Zhao also suggested the Chinese government should enhance international investment cooperation and improve outbound investment laws and regulations.
<br />This is all good news for Australian business community in general, and some key industry sectors in particular. As Australian voters head to the polls in September 2013, the Liberal Party may well be voted in as the next Federal Government. The outcome of the election for investors here and abroad is that it's likely to make a little difference to the continuing stability of Australian Stock market in general terms. The ASX All Ordinaries Index has surged from 1989 right up to the GFC in 2008, and has held its own against many other Western economies since.<br /><br />Australia's stable political and economic climate makes it an attractive proposition for those investors in China seeking to take advantage of their Government's determination to make it easier to reach out & form alliances here that can lead to established business relationships. <br /><br />A key platform for both Chinese and Australian businessmen to engage with one another is provided by the Australian Business Forum, a commercial & independent non-political organisation that supports Australian businesses wanting to do business in China and elsewhere in Asia.<br /><br />The platform is called the Australia China Business Week, (ACBW) a road show of three Key Events in 2013, to be expanded to at least four in 2014.  After a successful launch with its Shanghai Event, which concluded on 12 April in Shanghai, the next stop is Melbourne on 19 June, and then on to Sydney on 28 August.<br /><br />The events on the day will be focused around networking and optimising the opportunities available for both Australian and Chinese delegates. The four aspects of the event: Breakfast, Forums, Luncheon and Mix at Six Networking Function will fundamentally target operations, marketing, human resources and financial concerns, with a powerful networking focus in order to strategically assist Australian businesses as they take the leap to work in China. ACBW 2013 will also feature a Chinese Forum which will run parallel to the Australian program, to strategically assist Chinese investors looking at Australia as a strong opportunity. Now in its sixth year, ACBW has established itself as a proven business platform to help SMEs take their business to the next level in a market emerging on the world's stage. At the end of the day, all delegates will have the opportunity to network with each other, as Chinese investors and Australian businesses come together to foster new relationships and make long-lasting connections.<br /><br />For information or to register to attend ACBW 2013 Melbourne & Sydney, visit:<br />http://acbw2013.com.au/<br /><p><pre>Doris Li
Marketing and Communications Manager
Australian Business Forum
doris.li@abforum.com.au
TEL: +613 8689 9887</pre></p> ]]></description>
      <author>newsroom@abnnewswire.net</author>
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