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Asian Activities Report for June 9, 2011: Proto Resources And Investments Limited (ASX:PRW) To Acquire Nickel Cobalt Project in Germany
Asian Activities Report for June 9, 2011: Proto Resources And Investments Limited (ASX:PRW) To Acquire Nickel Cobalt Project in Germany
Sydney, June 9, 2011 AEST (ABN Newswire) - The Australian sharemarket opened flat today, slightly up 15.1 points to 4551.9 in the first two hours of trading. In early trade, Nikkei 225 lost 0.29% to 9,421.59. Hang Seng Index slid 0.19% to 22619.40, while Shanghai Composite was down 0.53% to 2735.75.

Companies

Proto Resources & Investments Limited (ASX:PRW) has entered into an option to purchase a nickel cobalt development project, known as the Kiefernberg project, located in Germany. The project area contains a former nickel mine as well as several other known mineralisations. Data review of the historical drills in the area is underway and will be followed by the design of a drilling programme to define a JORC-compliant resource.

Southern Cross Goldfields Limited (ASX:SXG) reported significant intersections from the recent drilling at the Golden Orb deposit, part of its Marda Gold Project in Western Australia. The results highlighted the project's potential as an open pit and underground feed source to the Company's proposed 400,000tpa gold plant at Marda.

Entek Energy Limited's (ASX:ETE) 50%-owned VR 342 well in the Gulf of Mexico has reached a Total True Vertical Depth of 7,635 feet and encountered two oil pay zones totalled 50 feet. The well has been suspended for future production.

Adamus Resources (ASX:ADU) said today that production at the Company's Nzema Gold Project in Ghana is progressing very well and the Project is on track to achieve forecast gold production of 24,000 - 25,000 ounces, at a cash cost of US$500-$550 per ounce, for the June 2011 quarter. The Company is confident that the Project will achieve 100,000 ounces of gold in its first full 12 months of operation.

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Related Companies

Proto Resources And Investments Limited     
Entek Energy Ltd      
Endeavour Mining Corporation          
Black Oak Minerals Ltd             

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