Asian Activities Report for August 25, 2011: Roc Oil (ASX:ROC) Reports Half Yearly Results
Sydney, Aug 25, 2011 AEST (ABN Newswire) - Roc Oil Company Limited (ASX:ROC) today releases its Half Year Financial Report for the period ended 30 June 2011. ROC remains on target to meet its 2011 production guidance of between 7,000-8,000 BOEPD, with an average daily production rate of 7,567 BOEPD in the first half year of 2011. The Company reports a net loss of US$6.6 million for the period from sales revenue of US$131.2 million, and its net cash over the period increased by to US$40.6 million.
IMX Resources Limited (ASX:IXR) has received the analytical results for the Snaefell iron ore prospect in South Australia. The prospect is interpreted to have a strike length of more than 3km and a vertical depth extent of at least 250m. The Company is preparing a maiden mineral resource estimate, targeting an initial exploration target tonnage of 70-100 million tonnes grading 28-35% Fe.
Radar Iron Limited (ASX:RAD) has received further highly encouraging drill results from the Die Hardy Range iron ore project in Western Australia. Drilling results confirmed that the project's exploration potential remains 700-1,200 million tonnes at 29-33% Fe. Resource drilling continues on schedule and is expected to conclude in early September. Once all drilling results are received, a JORC compliant resource estimation will be undertaken.
Automotive Technology Group Limited (ASX:ATJ) ("ATG") announced an agreement with Bullet Performance Products Pty Ltd ("Bullet Cars"), a Queensland-based manufacturer of supercharger systems, for the exclusive aftermarket distribution of ATG products, including Sprintex superchargers and supercharger systems in Australia and New Zealand. This agreement is expected to accelerate sales and further enhance the overall service and delivery to the existing dealer networks of both ATG and Bullet Cars.
Tata Chemicals Limited's (BOM:500770) subsidiary Gusiute Holdings (UK) Limited has entered into a subscription agreement to acquire shares in EPM Mining Ventures Inc. (CVE:EPK), a Canadian potash development company. Once the subscription is completed, EPM will raise C$16,000,000 to fund its ongoing work activities, while Gusiute will own 30.6% of the outstanding shares in EPM.
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