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ABN Newswire Stocks to Watch: January 28, 2010
ABN Newswire Stocks to Watch: January 28, 2010
Sydney, Jan 28, 2010 AEST (ABN Newswire) - Carpentaria Exploration Limited (ASX:CAP) said it has signed an agreement with gold producer Ramelius Resources Limited (ASX:RMS) to farm-in on Carpentaria's 100% owned Glen Isla Project, located near Dubbo, New South Wales. Under the Agreement, Ramelius Resources needs to spend A$1 million to gain a 51% stake in Glen Isla, with a minimum required expenditure of A$100,000 before they can withdraw from the Project.

Marion Energy Limited (ASX:MAE) (PINK:MAEJF) said gas production operations have now commenced at a second Clear Creek well, the 100% owned RR 13-17 well located at Clear Creek, Utah, USA. Management is firmly of the view that this well has the potential to produce in the range of 1 to 4 million cubic feet per day, given the well flowed at approximately 2 million cubic feet per day previously during a limited test period.

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) has released quarterly report for period ending 31 December 2009. As at 31 December 2009 Murchison was debt free and had cash and liquid investments of A$102.4 million. Crosslands Resources, Murchison's joint venture with Mitsubishi has announced a significant increase in Mineral Resources at the Jack Hills Project.

Bandanna Energy Limited (ASX:BND) on Wednesday reported a number of coal activities as well as oil and gas exploration activities during the three months 1 October to 31 December 2009 ("Reporting Period").

Australian gold producer Focus Minerals Limited (ASX:FML) announced the signing of a Toll Treating Agreement with TSX-listed mining company, La Mancha Resources, ("La Mancha")(TSE:LMA) for the treatment of ore from La Mancha's White Foil Gold Project.

Metallica Minerals Ltd (ASX:MLM) said that an updated independent resource estimate has been completed for the Kokomo Nickel - Cobalt - Scandium Laterite deposit, which is located 40 km north of the Township of Greenvale in North Queensland.

NewSat Limited (ASX:NWT) (OTC:NWTLY) has announced the launch of a Share Purchase Plan (SPP) to raise up to A$5,000,000 by allowing eligible shareholders the opportunity to subscribe for additional shares in NewSat. The funds raised through the SPP will be used to strengthen NewSat's balance sheet position and to support the growth and continued expansion of NewSat's operations.


Michelle Liang
Asia Business News Asia Bureau
TEL: +61-2-9247-4344

Related Companies

Ramelius Resources Limited       
Newsat Limited             
Murchison Metals Limited        
Mitsubishi Corporation         
Metallica Minerals Limited        
Marion Energy Limited       
La Mancha Resources, Inc.         
Focus Minerals Ltd       
Carpentaria Resources Ltd       
Bandanna Energy Limited        

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