Australian Market Report of January 4, 2011: Minotaur Exploration (ASX:MEP) to Commence Feasibility Study on Streaky Bay Kaolin Deposit
Jupiter Energy Limited (ASX:JPR) reported progress of the J-52 well and the J-50 well, onshore Kazakhstan. The J-52 well reached a total depth of 3152m in December 2010 and confirmed two reservoirs containing free, movable, oil. The Company will commence production testing on the J-52 well in late January 2011. Meanwhile J-50 flowed oil at commercial rates during an extended production test in 2010. The Company is currently completing the application process for a Trial Production Licence for J-50 which will permit the well to be returned to production.
Arafura Resources Limited (ASX:ARU) today reported on the progress of the Nolan's Rare Earth Project. Following successful laboratory production of commercial quality Heavy and Medium Rare Earth Elements, the Company has successfully produced commercial quality separated rare earth oxide including Cerium oxide and Neodymium/Praseodymium oxide. Refinement, separation and value adding work will continue in the first quarter of 2011 to produce commercial quantities of separated oxides for key customer assessment.
Shaw River Resources Limited (ASX:SRR) announced positive beneficiation testwork results from its Baramine Project in Western Australia. Tests show that material from the Baramine Project can be upgraded to 43% Mn product, providing more strong evidence that Baramine will host a low-cost manganese project capable of producing a high-grade, high-quality product. The Company will commence a Scoping Study in early 2011 and conduct an extensive drilling campaign to calculate the maiden resource estimate. The Company has estimated an exploration target of 10 to 15Mt at 18% to 25% Mn at Baramine.
Shaw River Manganese Limited
Minotaur Exploration Ltd
Jupiter Energy Limited
Arafura Resources Limted