Australian Market Report of February 4, 2011: iSOFT (ASX:ISF) System Significantly Reduced Hospital Medication Errors
East Coast Minerals NL (ASX:ECM) has entered into a conditional heads of agreement with Exchange Minerals Limited to acquire an 80% interest in an advanced lithium project in Austria for a total consideration of EUR9.95M. The Project has an inferred JORC resource of 18 million tonnes grading 1.6% Lithium Oxide with a further initial exploration target of 8 to 12 million tonnes with a grade of 1.5% to 2% Lithium Oxide. The Lithium Project is considered to be of strategic importance to European manufacturers, with its product to be sold into the robust European market.
Aquila Resources Limited (ASX:AQA) announced a further 63% increase in JORC-compliant resource at the Avontuur Manganese Project in South Africa, where the Company holds a 74% interest. The resource now stands at 108.9 million tonnes at 38.6% Mn. The Project will comprise of an initial open pit mining operation and a processing plant, with subsequent underground mining from an open pit access.
Monto Minerals Limited (ASX:MOO) is to acquire over 534km2 of tin exploration ground in the Herberton Tin Field of Northern Queensland from Conquest Mining Limited (ASX:CQT). Conquest Mining Limited will have a minimum 24.5% shareholding after the acquisition. Herberton Tin Field has historically produced over 109,000t of tin concentrates. Monto Minerals has identified several high grade drill targets and will commence additional geophysical surveys to further refine tin targets.
iSOFT Group Limited
East Coast Minerals Nl
Conquest Mining Limited
Aquila Resources Limited