Asian Activities Report for April 15, 2011: Wasabi Energy (ASX:WAS) Commence Construction Of Kalina Cycle(R) Facility In China

Wasabi Energy Limited (ASX:WAS) said today that Shanghai Shenghe New Energy Resources Science & Technology Co. Ltd, Wasabi's exclusive licensee for the Kalina Cycle(R) technology in China, has commenced the construction of a state-of-the-art Kalina Cycle(R) Laboratory and Testing Facility in Shanghai. The facility has been designed to assist in the testing of major components as well as the assembled power generation system for the Kalina Cycle(R) system with rated power outputs of up to 5,200 kW. The facility is scheduled to commence operations in the second half of 2011.

Aurora Minerals Limited (ASX:ARM) has commenced drilling on two areas within its large Capricorn Southeast Manganese Project in Western Australia. Drilling will focus on "Mango" Targets where previous higher grade manganese intersections have been reported including 2m at 30.6% Mn and 2m at 30.7% Mn. The adjacent Dooley Downs Copper Target will also be drilled. The two drill programs are expected to take approximately 3-5 weeks.

Shaw River Resources Limited (ASX:SRR) is to raise up to A$25 million through a placement of 125 million shares to sophisticated and professional investors. The funds will be used to develop the Company's manganese assets in Namibia, Australia and Ghana. This will include the commencement of an extensive infill drilling program and a feasibility study in May 2011 on Otjozondu manganese project in Namibia with a view to bringing the project into production in 2012.

Avanco Resources Limited (ASX:AVB) said today that Vale SA (NYSE:VALE) has commenced drilling at Avanco Resources' 100% Trindade North Iron Ore Project in Brazil. Four rigs are currently operational and early exploration appears very encouraging with significant widths of Banded Iron Formation recorded in drill core. The Commencement of drilling follows a cooperation agreement signed between the two companies, whereby Vale has been granted exclusive rights to explore Trindade North. The agreement has potential to generate payments of between A$10m and A$40m to Avanco.


Related Companies

Wasabi Energy Limited
           

Vale S.A.
            

Shaw River Manganese Limited
            

Avanco Resources Limited
            

Aurora Minerals Limited