Asian Activities Report for November 21, 2011: Ark Mines Ltd (ASX:AHK) Completed Due Diligence on the Marsuparia Contract of Work in Indonesia
21.11.2011 | ABN Newswire
10:30 AEST Nov 21, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.
Sydney, Australia (ABN Newswire) - Ark Mines Ltd (ASX:AHK) has completed extensive geological, financial and legal due diligence on the Marsuparia Contract of Work tenement in Indonesia, and is now working towards completion of the first phase transaction of the acquisition. The Marsuaparia Contract of Work contains six major projects and numerous other targets, among which the Ongkang gold deposit will be in production within twelve months.
China focussed gold exploration company Red Mountain Mining Limited (ASX:RMX) is to commence structural surface and underground geology studies at Xinqu mineralised area within the Zhongqu project to assist interpretation of the gold mineralisation. Stage II drilling program is expected to commence in December, following the exciting Stage I drilling results, including a best intersection of 31 metres at 4.61 grams/tonne Gold.
Altura Mining Limited (ASX:AJM) announces a 26% increase in the resource estimate at its Pilgangoora lithium project located in the Pilbara region of Western Australia. Total Pilgangoora Mineral Resource estimate now stands at 13.29 million tonnes at 1.21% Li2O. Drilling is continuing at the project, expected to further increase the mineralised resources.
Frontier Solar Limited (SIM:FSO), a Brisbane-based solar mounting technology company, last week announced an Initial Public Offering (IPO) to list on the SIM Venture Securities Exchange. The IPO is for the issue of 24,000,000 ordinary shares at A$0.25 per share to raise a total of A$6,000,000. The Company has extensive client-base in the Asia region, Europe, Middle East and the USA. Its technology was recently deployed in the largest commercial solar rooftop installation in China, and the largest in Australia at the University of Queensland.
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