Dart Energy Limited (
ASX:DTE) has advanced plans to create a global coal bed methane company by acquiring a strategic stake in Composite Energy Limited, a leading European operator. Dart will initially acquire a 10 percent stake in Composite by subscription of US$7 million, and has an option to increase its stake to 20 percent prior to the end of January 2011, via subscription of an additional US$5 million.
Northern Uranium Limited (
ASX:NTU) (
PINK:NOURF) announced a renounceable rights to raise approximately A$6.6 million before costs to drive its ongoing uranium and rare earth exploration effort. The funds raised will be used to fund exploration of the Company's 100%-owned Gardiner-Tanami Project, Gardner Range JV and to provide additional working capital. Drilling is scheduled to commence in early October 2010.
Further exploration drilling and geophysical surveys at Magma Metals Limited (
ASX:MMW) (
TSE:MMW) Thunder Bay North project in Ontario have defined two high-potential exploration targets, the West Beaver Lake High Sulphide Target and the South East Anomaly Gravity Target, which will be drilled over the next three months. The identification of these high-quality targets demonstrates the significant potential at this project for further discoveries.
Castle Minerals Limited (
ASX:CDT) infill soil geochemical sampling testing the Koda Hill target has confirmed a strong and coherent gold anomaly over 2km of strike which is ready for drill testing. Koda Hill forms part of Castle's Wa Project in north west Ghana and is located about 5.5km north of Castle's Julie West gold deposit. These targets will be tested as part of a 10,000m RC drilling program planned to be completed before the end of 2010.
Related CompaniesNorthern Minerals Limited
Magma Metals Ltd
Dart Energy Limited
Castle Minerals Limited