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Asian Activities Report for June 29, 2011: Hemisphere Resources (ASX:HEM) Yandicoogina South Iron Ore Project Progressing Well
Asian Activities Report for June 29, 2011: Hemisphere Resources (ASX:HEM) Yandicoogina South Iron Ore Project Progressing Well
Sydney, June 29, 2011 AEST (ABN Newswire) - Most Asian markets opened higher today. The S&P/ASX 200 rose 1.25% to 4530.2. Nikkei 225 gained 1.00% to 9,745.69. Hang Seng Index was up 0.53% to 22179.34. Only Shanghai Composite opened lower, down 0.20% to 2753.73 in early trade.

Company News

Emerging Pilbara iron-ore developer, Hemisphere Resources Limited (ASX:HEM) is in discussion with potential off-take parties including Chinese steel producers regarding the Company's flagship Yandicoogina South Project in Western Australia's Pilbara region. The Company is targeting first production of high-grade direct shipping ore from the project, with the pre-feasibility study and metallurgical testwork well progressed.

Proto Resources & Investments Limited (ASX:PRW) has been granted the Mining Lease 1872P/M over the area of the Company's Barnes Hill project from the Tasmanian Government. The Mining Lease gives Proto the right to mine and sell the minerals located on 1872P/M. The Company is targeting nickel, cobalt, iron and magnesium deposits at the project.

Cokal Limited (ASX:CKA) said today that laboratory results has confirmed high quality premium metallurgical coal at its Bumi Barito Mineral project in Indonesia. Coal quality ranges from premium coking coal to ultra low volatile PCI, and all products contain low ash, low sulphur, low phosphorous and low moisture.

Resolute Mining Limited (ASX:RSG) today provided its gold production and cash cost guidance for the coming 2011-12 year. Gold production in the coming year is forecast to increase to 410,000 ounces at a cash cost of A$730 per ounce. This forecast cements Resolute's position as the second largest primary listed gold producer on the Australian Securities Exchange and represents a substantial increase in unaudited, 2010-11 year production of 330,000oz and reduction in cash costs from A$900/oz.


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