Xstrata PLC

Universal Resources Limited (ASX:URL) today announced positive drilling results from the Company's 100%-owned Roseby Copper Project ("Roseby") near Mt Isa in Queensland, Australia.

Carbon Energy Limited (ASX:CNX) (PINK:CNXAF) has appointed a new General Manager Technical Services, Mr Andrew Mifflin to evaluate and develop coal resources suitable for underground coal gasification both in Australia and overseas.

US stocks was slightly higher on Friday, hitting at least 15-month closing highs despite a bigger-than-expected job loss data. US dollar was lowered on the disappointing payroll data. This week the US firms, which are widely expected to show significant improvement compared to the corresponding period last year, will kick off the quarterly earnings reporting season.

Emu Nickel NL (ASX:EMU) Diamond drilling has been completed at the Emu Lake Joint Venture north-east of Kalgoorlie (Xstrata Nickel earning 662/3% by spending A$3.25M by September 2010 and Emu Nickel NL earning 331/3%). Three diamond drill holes; ELD041A, ELD042A and ELD044 were completed during October 2009. Assay results have been returned for ELD042A confirming the presence of a new nickel sulphide occurrence at Binti South, about 1 km south of the Binti Gossan.

Wall Street declined overnight on a weak housing report, despite some strong earnings results. The Commerce Department said that construction starts on privately owned homes rose 0.5 per cent to 590,000, lower than expectations.

Emu Nickel NL (ASX:EMU) Diamond drilling at the Emu Lake joint venture 70km northeast of Kalgoorlie (Emu Nickel earning 33 1/3% and Xstrata Nickel earning 66 2/3%) has intersected nickel sulphides to the north, south and within the Binti Gossan Zone, indicating that this mineralisation remains open to the north and identifying a potential new nickel sulphide position 300m to the south which is open at depth.

The directors of Universal Resources Limited (ASX:URL) advise that Mt Isa Mines Limited (Xstrata) has commenced drilling at the Blackard deposit as part of its exploration pursuant to the SEEP Joint Venture. The SEEP Joint Venture involves an area of approximately 174 sq km within the 1,650 sq km Roseby Copper Project tenements in the Cloncurry area, Queensland.

Bandanna Energy Limited (ASX:BND) is pleased to announce that it has engaged an independent consulting group to undertake a Concept Study for the development of its Arcturus Project as a potential open cut thermal mine. EPC 1221 is 100% held by Springsure Creek Coal Pty Ltd, a wholly-owned subsidiary of Bandanna.

Bandanna Energy Limited (ASX:BND) is pleased to announce that it has engaged an independent consulting group to undertake a Concept Study for the development of its Arcturus Project as a potential open cut thermal mine. EPC 1221 is 100% held by Springsure Creek Coal Pty Ltd, a wholly-owned subsidiary of Bandanna.

There has been some froth in commodity prices driven by sentiment rather than fundamentals, mining group Xstrata's (LON:XTA) chief executive Mick Davis has warned.