Dynasty Metals Australia Limited (ASX:DMA) refers to its previous announcement on 29 May 2012 in relation to its minority interest of 8.65% in a joint venture company with a subsidiary of Tiaro Coal Limited (ASX:TCM) ('Tiaro Coal').
Tiaro Coal Limited
Successful Shallow Seismic Survey Results Received On Tiara Coal (ASX:TCM) And Dynasty (ASX:DMA) Joint Venture Tenements
Dynasty Metals Australia Limited (ASX:DMA) advise that Tiaro Coal (ASX:TCM) received very encouraging results from a shallow seismic survey completed during February and March.
Australian sharemarket dropped on Thursday due to concerns that China's bank lending halt may hit the global economy recovery. Chinese government data showed that GDP increased by 8.7 per cent in 2009 but inflation surged towards the end of the year. The results fuelled the expectations that China will introduce more measures to slow inflation. At the close on Thursday, the benchmark S&P/ASX200 index was down 41 points, or 0.8 per cent, at 4827.2, while the broader All Ordinaries index lost 45.8 points, or 0.9 per cent, to 4849.6.