Asian Activities Report for November 18, 2011: MetroCoal Limited Increases Inferred Coal Resource of the Columboola Project to 1.297 Billion Tonnes
18.11.2011 | ABN Newswire
Sydney - MetroCoal Limited (ASX:MTE) announces a significant increase in the inferred coal resource of the Columboola Project from 540 million tonnes to 1.297 billion tonnes, bringing the Company's total thermal coal resource to 2.363 billion tonnes. The Company is targeting thermal coal suitable for the export market at depths amenable to underground mining. Marmota Energy Limited (ASX:MEU) announces an initial resource estimate of 4.36 million tonnes of uranium mineralisation for its Saffron deposit within its Junction Dam uranium project. Drilling completed in the 2011 Phase 3 program confirmed additional zones of uranium mineralisation to the north and south of the Saffron prospect. Further drilling is planned for 2012 to further expand the resource at Junction Dam.
Gryphon Minerals Limited (ASX:GRY) announces more outstanding drilling results from the Samavogo Gold Deposit at the Company's flagship Banfora Gold Project in Burkina Faso. Mineralisation is shallow and remains open along strike and down dip, highlighting the potential of further resource growth. The Project currently has a JORC-compliant inferred resource estimate of 29 million tonnes at 2.1 grams per tonne for 2 million ounces of gold.
Brisbane-based Frontier Solar Limited (SIM:FSO) has launched a A$6 million Initial Public Offering, expected to list on the SIM Venture Securities Exchange in late December 2011. The Company has patented solar mounting technology that can reduce installation time and improve wind resistance and tracking ability. Its well-known brand, Frontierac, is a top 10 brand in the Australian solar mounting market. With well-established market positions in China and Australia, the Company also plans to expand into the growing renewable energy market in India.
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