Flinders Mines Limited
Asian Activities Report for August 11, 2011 includes: Helix Resources Limited (ASX:HLX) reported outstanding assay results from its initial drilling on the Joshua Project in Chile; Breakaway Resources Limited (ASX:BRW) has extended the polymetallic mineralisation at the Surprise Ridge target; Ampella Mining Limited (ASX:AMX) has received initial drill results from the Foumbiri Prospect in Burkina Faso; Flinders Mines Limited (ASX:FMS) announced a maiden Inferred Mineral Resource at its Canegrass Magnetite Project; Reliance Industries Limited (BOM:500325) has received Indian government's approval for its deal with BP (LON:BP).
Overnight Wall Street extended its gains on Reserve Bank of Australia's unexpected decision to raise the official interest rate. Investors saw the first rate hike in advanced economies since the global financial crisis as a key indication of recovery. The move also pushed commodities higher with gold soaring to a record.
A maiden iron ore resource estimate of 476 million tonnes has been announced by Flinders Mines Limited (ASX:FMS) for its 100%-owned Hamersley project in Western Australia.