Asian Activities Report for August 17, 2011: SMS Management and Technology Limited (ASX:SMX) Recorded a Strong Performance in 2010/2011
Newly ASX-listed company Orpheus Energy Limited (ASX:OEG) said today that its B26 coal joint venture project with PT Mega Coal International has now completed drilling the next development block of coal in Indonesia. Analysis of the drill samples will now be used to formulate the Phase 2 mining plan. In addition, Orpheus has progressed plans to expand the strategic alliance with PT Mega Coal International. A number of projects have been identified for possible acquisition under the strategic alliance.
Building and construction materials supplier Boral Limited (ASX:BLD) has agreed to acquire Lafarge's 50% interest in Lafarge Boral Gypsum Asia ("LBGA") for EUR429 million. LBGA is a plasterboard joint venture between Boral and Lafarge (EPA:LG), and has the largest plasterboard network in Asia. This acquisition, when combined with Boral's market leading plasterboard activities in Australia, will position Boral as the pre-eminent producer of plasterboard and related internal linings solutions products in the Asia Pacific region.
Nemex Resources Limited (ASX:NXR) announced the results of 17 ironstone samples from its Coastal Project in western Guinea. The results showed iron grades ranging between 53-64% (averaging 60.7% Fe), and demonstrated the presence of a widespread iron ore mineralisation. The Company plans to commence drilling to determine ironstone thickness over the Coastal Project and to explore the other 2,000 square kilometres of regional licences.
SMS Management & Technology Limited.
Orpheus Energy Limited
Nemex Resources Limited