ABN Newswire Stocks to Watch: December 16, 2009
Otto Energy Limited (ASX:OEL)(PINK:OTTEF) said that the Edirne Joint Venture (EJV) has secured a five year Gas Sales Agreement for all gas production from the Edirne Licence. This long term gas sales agreement provides the EJV with a certain market for both its current gas reserves while also allowing for the monetisation of its new gas discoveries on the licence area.
Sarissa Resources Inc., (PINK:SRSR) announced that another magnetic anomaly of potential has been identified on its 100% owned niobium property in northern Ontario. The newly identified area of interest lies to the south of what was previously thought to have been the southern boundary of the South East Zone.
One of the PRC's leading gold production enterprises, Zhaojin Mining Industry Company Limited (HKG:1818)(PINK:ZHAOF) said that in the morning of 14 December 2009, the Company received a confirmation letter from Shandong Property Right Exchange Center and Zhaoyuan State-owned Assets Supervision and Administration Bureau, confirming that the Company has obtained the transferee qualification for the 100% state-owned property rights of Canzhuang Gold Mine at the consideration of RMB426,610,000. Upon the completion of the transfer, the gold metal reserve of the Company will be increased by more than 20,000 kilograms together with 4 additional mining rights covering an area of approximately 3.17 square kilometers and 12 additional exploration rights covering an area of approximately 71.92 square kilometers.
Galaxy Resources Limited (ASX:GXY)(PINK:GALXF) has signed the Project Investment Contract (PIC) for the Jiangsu Lithium Carbonate Plant with the Zhangjiagang Free Trade Zone Administrative Committee (ZFTZAC). The PIC provides for land use for 50 years in an ideal location for the production of battery grade lithium carbonate. The site will be serviced by a 500m conveyor between the ocean bulk shipping wharf and the plant to facilitate inexpensive delivery of the Mt Cattlin spodumene from the mine.
Automotive Technology Group (ASX:ATJ) has secured a A$5 million funding facility with investment bank Fortrend Securities Pty Ltd. Automotive Technology is the designer, owner and manufacturer of the patented Sprintex(R) helicoil twin-screw supercharger and has spent 6 years and over A$22 million in R & D. Development of the Sprintex(R) supercharger range is now complete and commercially ready.
Conquest Mining Limited (ASX:CQT) (PINK:CQMLF) provided an update on the progress of the Definitive Feasibility Study (DFS) for its Silver Hill gold-silver-copper project in northern Queensland. As stated in the Company's ASX announcement of 8 October 2009(1), the scope of the DFS was restricted to evaluation of the technical plus economic feasibility of mining the currently defined Silver Hill resource, and processing to produce a high-grade precious metals concentrate. The Company says it continues to assess options for a potential secondary production process of lower grade tailings using bioleaching.
Zhaojin Mining Industry Company Limited
Sarissa Resources Inc.
Republic Gold Limited
Otto Energy Limited
Galaxy Resources Limited
Conquest Mining Limited