A drilling program begins this week on the Kratie North gold project, where gold bearing veins have been discovered by Indochine Mining Limited (ASX:IDC), which has the largest package of gold/ copper leases in Cambodia.
Australian Market Report of December 30, 2010 includes: Quest Minerals Limited (ASX:QNL) has entered into an agreement to earn 80% of two iron ore prospects in WA; PanAust Limited (ASX:PNA) has completed the sale of its fourth shipment of copper-gold concentrate in Laos; Montezuma Mining Company Limited (ASX:MZM) confirmed copper/cobalt sulphide mineralisation at Butcherbird; Norwest Energy NL (ASX:NWE) announced a A$2m equity raising to provide exploration funds.
Indochine Mining Limited (ASX:IDC), a large-scale gold and copper explorer with the largest package of mineral leases in Cambodia, began trading on the Australian Securities Exchange today.
Australian Market Report of October 20, 2010 includes: JFE Shoji Trade Corporation has acquired interest In Cockatoo Coal (ASX:COK) Bowen Basin Projects; PanAust Limited (ASX:PNA) is to invest US$110 million at the Phu Kham Copper-Gold Operation in Laos; Poseidon Nickel Limited (ASX:POS) intersected higher than expected nickel sulphide grades at the Cerberus deposit; Transol Corporation Limited (ASX:TNC) has acquired two new gold projects in Cambodia.
The Australian share market was lower in early trade as Wall Street plunged overnight on Federal Reserve chairman Ben Bernanke's comment that the economy was fragile. The US central bank is not prepared to consider further stimulus in the near term despite an "unusually uncertain" outlook.
The Australian share market was higher in early trade today despite Wall Street delivered a weak lead. Overnight US stocks reversed strong gains to close lower on worries over Euro amid the lingering Europe debt crisis. The newly released OECD economic outlook, predicting strong economic growth, has supported the local market today.
Overnight the Dow index and S&P's 500 index posted their biggest falls in three months as the worse-than-expected manufacturing activity data in September and new jobless claims led to a broad sell-off. These figures overshadowed improvements in pending home sales, personal spending and construction spending, and dampened investors confidence on the economy recovery.
The Australian shares fell in late trading on Monday, pulled by energy sector. The benchmark S&P/ASX200 lost 16.9 points, or 0.43 per cent, to 3886.9, and the broader All Ordinaries was down 16.8 points or 0.43 per cent to 3882.7. Analysts expect the local market remained directionless ahead of the financial year end.
Yesterday the Australian shares ended lower dragged by financial stocks after the lifting the eight-month short-selling ban. The market was also hit by news of a nuclear weapon test by North Korea. The benchmark S&P/ASX200 index fell 23.7 points, or 0.63 per cent, to 3737.9, while the broader All Ordinaries index was down 20.1 points, or 0.54 per cent, to 3735.3.
Production at the Pan Australian Resource's (ASX: PNA) Phu Kham Heap Leach Gold Operation (formerly known as the Phu Bia Gold Mine) in Laos has ramped-up and reached record levels. Gold shipments for October will total over 4,400 oz.