Australian Market Report of March 9, 2011: Hunnu Coal (ASX:HUN) Form Strategic Partnership With Banpu PCL (BAK:BANPU)
Dragon Mining Limited (ASX:DRA) announced that the gold resource inventory for its Nordic gold projects now exceeds 1 million ounces. The increase is primarily a result of a significant upgrade of the Mineral Resource inventory for the Kuusamo Gold Project in Finland. In addition, the results from the drilling program at the Svartliden Gold Mine in Sweden continue to be very optimistic, providing encouragement for further resource upgrades.
Eagle Eye Metals Limited (ASX:EYE) has entered into a Memorandum of Understanding with Birimian Gold Limited to acquire 100% of Birimian's shares. Birimian Gold holds substantial interests in several highly prospective gold projects in Western Africa including the Dankassa Gold Project and the Korindji Gold Project in Mali. The Korindji Gold Project is adjacent to AngloGold Ashanti's (JNB:ANG) (NYSE:AU) 13Moz Sadiola Gold Mine and the 4.5Moz Yatela Gold Deposit.
Thor Mining PLC (ASX:THR) has commenced a maiden drilling program at the Dundas Gold Project in Western Australia. The project tenements lie on the most prolific gold-bearing belt of the Yilgarn Province. The 65 hole drilling program will test a 6km2 anomaly identified from the 2010 surface sampling. Assay results are expected in late March or early April.
Thor Mining Plc
Hunnu Coal Limited
Dragon Mining Limited
Birimian Gold Limited
Banpu Public Company Limited
Anglogold Ashanti Limited