Asian Activities Report for September 22, 2011: Royal Resources (ASX:ROY) Commenced Drilling on Potentially Massive Razorback Iron Project
Sydney, Sep 22, 2011 AEST (ABN Newswire) - Royal Resources Limited (ASX:ROY) has resumed drilling on the potentially massive Razorback Iron Project in South Australia. Approximately 9,000 metres of RC and diamond drilling are planned for the Pualco Project, a sub-project within the Razorback Iron Project. The Drilling is targeting a 10km strike length of prospective Braemar Iron Formation, aiming to provide a maiden JORC Resource for the Pualco Project.
Antipa Minerals Limited (ASX:AZY) said today that 2011 drilling programme at the Citadel Project in Western Australia is likely to be reduced due to contractor issues, but will still be sufficient to meet the majority of the Company's 2011 objectives and to provide more information on the overall potential of the Magnum gold-copper deposit. Following completion of the 2011 drilling programme, Antipa plans to complete any outstanding 2011 activities in an expanded 2012 exploration programme in order to deliver a maiden Magnum Mineral Resource.
FAR Limited (ASX:FAR) announced its merger with Flow Energy Limited by way of a conditional off-market takeover bid by FAR for all of the issued shares in Flow Energy. On completion of the takeover, FAR will have a broad portfolio of world class, high impact exploration assets across West Africa, East Africa, Jamaica and Australia. FAR is well funded to pursue exploration activities on these projects and will have an augmented management and technical team.
New Age Exploration Limited (ASX:NAE) announced the completion of a private placement of ordinary shares raising A$4 million from an institutional investor and a sophisticated investor. The funds raised will be used to advance the Company's Colombian coking and thermal coal projects including accelerating early production of coking coal from the Subachoque Project.
Prism Informatics (BOM:505530), a rapidly growing software development and strategic consulting company, has acquired 18% stake in Idhasoft Limited, a global consulting firm in the IT Sector with over 1000 clients in US and India. This acquisition will strengthen Prism's position in the US market and provide an opportunity to bring together the experience and technology skills of both companies.
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Prism Informatics Limited
New Age Exploration Limited
Magnetite Mines Ltd
Antipa Minerals Limited