Australian Market Report of October 7, 2010: Venture Minerals - To Raise A$20 Million For Mt Lindsay Tin/Tungsten Project
07.10.2010 | ABN Newswire
13:30 AEST Oct 7, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Australian mineral exploration company, Venture Minerals Limited (ASX: VMS) will raise A$20 million to fund ongoing exploration and feasibility studies at the Company's flagship Mt Lindsay Tin/Tungsten Project in northwest Tasmania. The fund raising follows a number of major milestones achieved by the company at Mt Lindsay including the discovery of large high grade tin and tungsten zones. The company's immediate focus is to upgrade its resource base, complete the current pre-feasibility study and continue its aggressive exploration program.
Oklo Uranium Limited (ASX: OKU) intends to expedite the granting of the ELA 25454 Killi Killi South Prospect which was lodged with the NT Government in 2007 for the purpose of assessing its uranium potential. The tenement, which covers an area of 144 km2, boarders Orion Metals Limited's (ASX: ORM) Killi Killi Hills tenements. Assay results from Killi Killi Hills indicated the presence of heavy rare earth elements as well as uranium and gold. Upon grant of this application Oklo intends to carry out a preliminary exploration programme on the area.
Energy company Jatoil Limited (ASX: JAT) plans to make regular weekly shipments of crude jatropha oil from its plantations in Central Java, Indonesia. The company's 70%-owned joint venture, PT Jatoil Waterland, has bought 522 hectares of three to four year old jatropha trees near the 1,000 hectare plantation, which in July yielded Jatoil's first shipment of the environmentally friendly, second generation biofuel.
Astro Resources NL (ASX: ARO) has been granted the North Doolgunna Gold Project in WA. The grant came after the successful negotiation of native title and execution of Heritage Protection Agreements. The Company will now undertake an immediate and extensive work program with a view to developing the previously identified exploration targets into drilling targets.
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