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	<title>egolinews.com &#187; Materials and Resources</title>
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		<title>RIO &amp; Chalco Sign Agreement</title>
		<link>http://egolinews.com/news-and-views/rio-chalco-sign-agreement/</link>
		<comments>http://egolinews.com/news-and-views/rio-chalco-sign-agreement/#comments</comments>
		<pubDate>Fri, 30 Jul 2010 03:21:00 +0000</pubDate>
		<dc:creator>egoli</dc:creator>
				<category><![CDATA[Materials and Resources]]></category>
		<category><![CDATA[News and Views]]></category>

		<guid isPermaLink="false">http://egoli.com.au/news/post.aspx?id=347c5601-788b-4e47-b0b1-d83ffec1d468</guid>
		<description><![CDATA[<p>
Rio Tinto and Chinalco subsidiary Chalco sign binding agreement for Simandou iron ore project joint venture 29 July 2010 
</p>
<p>
Rio Tinto and Chalco today signed a binding agreement to establish a joint venture (JV) covering the development and operation of the Simandou iron ore project in Guinea. The binding agreement follows the signing of a memorandum of understanding between Rio Tinto and Chalco&#8217;s parent Chinalco announced on 19 March 2010. The agreement covers all aspects of how the JV and project itself will operate and be governed, including planning, construction and management of the mine and associated rail and port infrastructure. Jan du Plessis, chairman, Rio Tinto and Xiong Weiping, president, Chinalco, and chairman and chief executive officer, Chalco today attended a signing ceremony in the Great Hall of the People in Beijing. Government officials from China, Guinea, the United Kingdom and Australia were represented at the event. Mr du Plessis said: &#8220;Developing our relationship and business links with China is a key priority for Rio Tinto.<br />
<br />
This agreement takes our relationship with China and our largest shareholder Chinalco to a new level, building on a line of successful partnerships between Rio Tinto and China dating back to the start of the Channar iron ore joint venture in the Pilbara a generation ago. The formation of partnerships is integral to our business engagement with China. We are confident that the knowledge and experience gained from these other ventures will help make this joint venture our most successful yet undertaken with a Chinese partner.&#8221; Mr Xiong said: &#34;The establishment of a joint venture will make use of Chinalco&#39;s advantages in the infrastructure field and its profound understanding of the Chinese market as well as Rio Tinto&#39;s technologies and experience in the operation of large mining projects, so as to form a complementary and powerful union.<br />
<br />
We believe the successful development of the Simandou project will greatly quicken the pace of local infrastructure construction and economic development. This project can also efficiently balance China&#8217;s need for security of supply on the global iron ore market. We expect the two sides will regard cooperation on the Simandou project to be the foundation for further pushing forward the cooperation of these two companies in other resource projects.&#8221; Tom Albanese, chief executive, Rio Tinto said: &#34;We are excited about formalising our partnership with Chinalco through its subsidiary Chalco.<br />
<br />
Rio Tinto, Chinalco and the IFC together form an extremely strong development team. We expect to realise great economic and social benefits for the people of Guinea from the development of the Simandou project. This is a world-class iron ore project.<br />
<br />
We firmly believe this agreement will deliver great value for our shareholders. We remain committed to continued engagement with the Guinean Government and other key stakeholders. We continue to invest funds to keep this important project moving forward and anticipate mining operations would start within five years.&#8221; Luo Jianchuan, president, Chalco, said: &#34;This transaction is consistent with the company&#39;s development strategy to seek development opportunities in the mining industry and to seek high-quality overseas mineral projects.<br />
<br />
We hope Chalco and Rio Tinto can join efforts to enable the Simandou project to be put into production according to the development schedule reached by the two sides, so as to bring huge value to all related parties.&#34; Under the terms of the agreement, Rio Tinto&#39;s 95 per cent interest in the Simandou project will be held in the new JV. Chalco will acquire a 47 per cent interest in the new JV by providing US$1.35 billion on an earn-in basis through sole funding of ongoing development work over the next two to three years. Once Chalco has paid its US$1.35 billion, the effective interests of Rio Tinto and Chalco in the Simandou project will be 50.35 per cent and 44.65 per cent respectively.<br />
<br />
The remaining five per cent will be owned by the International Finance Corporation (IFC), the financing arm of the World Bank. Both Rio Tinto and Chalco are keen to progress the project as soon as possible and are working with all stakeholders to expedite the process. The formation of the JV will be finalised in consultation with the Guinean Government and following satisfaction of various regulatory requirements. Notes to editors Following the formation of the JV, Rio Tinto&#39;s Simfer subsidiary will continue to be responsible for the development of the Simandou project, and Chalco will provide secondees to assist and be involved with Rio Tinto in the management and operation of the project. In addition to the sole funding provided by Chalco, the project will require significant additional development expenditure before it becomes fully operational, which will be funded jointly by Rio Tinto, Chalco and IFC, based on their corresponding share of interests. The Guinean Government holds an option to buy up to 20 per cent of the project.<br />
<br />
The Government has recently expressed a willingness to exercise that option. Any interest acquired by the Guinean Government would proportionally reduce the effective holding in the project of Rio Tinto, Chalco and the IFC. Simandou is a world-class iron ore mining project located in south-eastern Guinea. The project has completed initial feasibility studies and development work is progressing.<br />
<br />
Rio Tinto is partnered with the IFC, which holds a five per cent stake in the Simandou project. Chalco also contributes dedicated capability in the delivery of major projects and access to the infrastructure expertise and experience of other organisations in China. Since the Mining Concession was granted in 2006, Rio Tinto has spent more than US$650 million on exploration, environmental, community development and evaluation work necessary to develop a world-class mine at Simandou. The Simandou project employs more than 1,100 people in Guinea, including direct and indirect employees. The current mine, rail and port plan anticipates creating tens of thousands of jobs during the construction phase and more than 4,000 full-time jobs during the operational phase.<br />
<br />
The mine would be managed by Rio Tinto. Once fully operational, the mine is expected to produce more than 70 million tonnes of high-grade iron ore annually, and satisfying demand in the China market will be a high priority. Chalco is a listed subsidiary of Chinalco, with its shares traded on the Hong Kong, Shanghai and New York Stock Exchanges. Chinalco, directly and through various associated entities, holds in excess of 40 per cent of Chalco&#8217;s issued capital. About Rio Tinto Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange. Rio Tinto&#39;s business is finding, mining, and processing mineral resources.<br />
<br />
Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa. 
</p>
<p>
For further information, please contact: Media Relations, EMEA / Americas Tony Shaffer Office: +44 (0) 20 7781 1138 Mobile: +44 (0) 7920 041 003 Christina Mills Office: +44 (0) 20 7781 1154 Mobile: +44 (0) 7825 275 605 Media Relations, Australia / Asia David Luff Office: +61 (0) 3 9283 3620 Mobile: +61 (0) 419 850 205 Investor Relations, Australia Dave Skinner Office: +61 (0) 3 9283 3628 Mobile: +61 (0) 408 335 309 Simon Ellinor Office: +61 (0) 7 3361 4365 Mobile: +61 (0) 439 102 811 Investor Relations, London Mark Shannon Office: +44 (0) 20 7781 1178 Mobile: +44 (0) 7917 576597 David Ovington Office: +44 (0) 20 7781 2051 Mobile: +44 (0) 7920 010 978 Investor Relations, North America Jason Combes Office: +1 (0) 801 204 2919 Mobile: +1 (0) 801 558 2645 
</p>
<p>
Website: www.riotinto.com Email: media.enquiries@riotinto.com / enquiries.mediaaustralia@riotinto.com High resolution photographs and media pack available at: http://www.riotinto.com/media. 
</p>
]]></description>
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		</item>
		<item>
		<title>PSH: Guidance Reaffirmation</title>
		<link>http://egolinews.com/news-and-views/psh-guidance-reaffirmation/</link>
		<comments>http://egolinews.com/news-and-views/psh-guidance-reaffirmation/#comments</comments>
		<pubDate>Fri, 30 Jul 2010 03:13:00 +0000</pubDate>
		<dc:creator>egoli</dc:creator>
				<category><![CDATA[Materials and Resources]]></category>
		<category><![CDATA[News and Views]]></category>

		<guid isPermaLink="false">http://egoli.com.au/news/post.aspx?id=3f4d4d32-eee5-44a8-a388-0f1dcdfe9c05</guid>
		<description><![CDATA[<p>
Penrice reaffirms 2010 guidance 
</p>
<p>
&#8226;FY2010 underlying profit and cash flow in line with guidance 
</p>
<p>
&#8226;Chemicals demand recovers in June quarter 
</p>
<p>
&#8226;New mine plan delivers less inventory build 
</p>
<p>
Penrice Soda Holdings Limited (PSH) today announced that its preliminary unaudited accounts for the year ended 30 June 2010 show an underlying net profit after tax of $5.3 million, in line with guidance provided in April 2010 of $5 million to $6 million and compares to $9.0 million in the previous year. As previously announced in April, Chemicals business demand was negatively impacted in the March quarter when reduced soda ash volumes were caused by unexpected, extended destocking by Penrice&#8217;s principal glass manufacturing customers. Soda ash sales volumes are recovering to more normal levels. Bicarb sales volumes, negatively impacted in the March quarter by unseasonal wet weather reducing demand from Penrice&#8217;s principal stockfeed customers, are also recovering.<br />
<br />
Penrice is well placed to capitalise on the market recovery, based on its customers&#8217; plans. Net free cash flow for the year was negative $7.4 million, which is a significant improvement on negative $22 million in 2009. The result is consistent with recent guidance of negative $7 million to negative $9 million. The positive trend is expected to continue in 2011. Quarry &#38; Mineral Business inventory build in 2010 was $6.4 million, in line with recent guidance and well down on the previous year&#8217;s $12.6 million.<br />
<br />
This reflects reduced overburden extraction and higher sales into civil markets. Overburden extraction rates are set to fall further from 2011 under a new five-year mine plan, with consequent increase in cash flow. The Company is pleased to confirm that Penrice&#8217;s mining operations will not be covered by the Federal Government&#8217;s revised Minerals Resource Rent Tax scheme. Following its capital raising in 2009, the Company had been in discussion with its banks regarding future funding arrangements. The Company has secured the in-principle support of its banking syndicate for an extension of its banking facilities for a further year until March 2013 and expects its revised banking agreements to be finalised in the near future. The Company&#8217;s full year audited results and a market update will be released on 26 August 2010. 
</p>
<p>
Penrice Soda Holdings Limited (PSH) is Australia&#8217;s only manufacturer of soda ash and sodium bicarbonate and one of the world&#8217;s largest sodium bicarbonate marketing companies.<br />
<br />
It also operates a limestone mine and is a significant supplier of industrial minerals and civil products. The Company is committed to driving shareholder value through the manufacture and supply of a range of world-class products across a variety of industries and countries including packaging, building and construction, mining, detergents, food and personal care, stockfeed and environmental control/water purification. 
</p>
<p>
For further information regarding Penrice Soda Holdings&#8217; Australian operations go to our website at www.penrice.com.au or contact: Guy Roberts, Managing Director &#38; CEO 0412 958 040. 
</p>
]]></description>
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		</item>
		<item>
		<title>NME: Gold Resources Increase</title>
		<link>http://egolinews.com/news-and-views/nme-gold-resources-increase/</link>
		<comments>http://egolinews.com/news-and-views/nme-gold-resources-increase/#comments</comments>
		<pubDate>Fri, 30 Jul 2010 03:08:00 +0000</pubDate>
		<dc:creator>egoli</dc:creator>
				<category><![CDATA[Materials and Resources]]></category>
		<category><![CDATA[News and Views]]></category>

		<guid isPermaLink="false">http://egoli.com.au/news/post.aspx?id=7c126dce-0608-436c-bd80-9a5433783873</guid>
		<description><![CDATA[<p>
NEX METALS EXPLORATIONS LTD 100% Kookynie Gold Project 13.5% Gold Resource Increase, 21.65 Mt for 716,000 gold ounce Mineral Resource Estimate. 
</p>
<p>
Nex Metals Explorations Ltd (ASX; NME) (&#8220;Nex&#8221;) is pleased to announce an update of the Mineral Resource Estimates for the Kookynie Gold Project&#8217;s Phase 3 area. The estimates have been completed by Apex Geoscience Ltd (Apex). Apex have calculated the resources in the previously unreported Niagra and Gladstone areas. The result is a significant 13.5% increase in gold ounce mineral resource estimate to a total 716,000 ounce gold inventory for Nex Metals shareholders. The directors believe there is huge potential to increase the Kookynie resources.<br />
<br />
Drilling to this aim will occur once the Laterite Dump Leach mining is underway and settled. 
</p>
<p>
For more information please visit the website www.nexmetals.com. Mr Ken Allen Mr Edd Prumm Managing Director Technical Director 0448 447 472 0448 966 377. 
</p>
]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>DRX: Capital Raising Complete</title>
		<link>http://egolinews.com/news-and-views/drx-capital-raising-complete/</link>
		<comments>http://egolinews.com/news-and-views/drx-capital-raising-complete/#comments</comments>
		<pubDate>Fri, 30 Jul 2010 03:00:00 +0000</pubDate>
		<dc:creator>egoli</dc:creator>
				<category><![CDATA[Materials and Resources]]></category>
		<category><![CDATA[News and Views]]></category>

		<guid isPermaLink="false">http://egoli.com.au/news/post.aspx?id=d06690d8-5941-4df3-a8f5-8e1de06500f0</guid>
		<description><![CDATA[<p>
Diatreme Resources Limited (DRX) is pleased to announce that it has completed a Placement of 8,823,525 ordinary fully paid shares (&#8220;Shares&#8221;) at 8.5 cents per share, raising $750,000, to sophisticated and professional investors, including existing major shareholders. 
</p>
<p>
Funds will be applied generally as working capital toward the advancement of the Company&#8217;s heavy mineral and base metal projects. This will partially include the Cyclone Prefeasibility Study presently underway, together with the proposed co-funding from international industry groups of the Wanna Heavy Mineral Sands Project (encompassing the Cyclone Deposit). 
</p>
<p>
The Placement was managed by Intersuisse Ltd, together with PhillipCapital Australia. Settlement and allotment of the new shares is expected to be finalized within the next seven days. The resulting issued capital of the Company once the new shares are allotted will be as follows: Description Securities on Issue Ordinary fully paid shares - listed 234,864,734 47 cent options expiring 30 June 2011 - unlisted 16,800,000 47 cent options expiring 31 July 2011 - unlisted 3,000,000 
</p>
<p>
Leni Stanley Company Secretary. 
</p>
]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>AQR: Trading Halt</title>
		<link>http://egolinews.com/news-and-views/aqr-trading-halt/</link>
		<comments>http://egolinews.com/news-and-views/aqr-trading-halt/#comments</comments>
		<pubDate>Fri, 30 Jul 2010 02:50:00 +0000</pubDate>
		<dc:creator>egoli</dc:creator>
				<category><![CDATA[Materials and Resources]]></category>
		<category><![CDATA[News and Views]]></category>

		<guid isPermaLink="false">http://egoli.com.au/news/post.aspx?id=dd12a2d4-b5ce-4d08-a2ea-a3d82b66dd68</guid>
		<description><![CDATA[<p>
Request for Trading halt in respect of shares in Aussie Q Resources Limited 
</p>
<p>
The Company requests a trading halt in respect of its listed shares. The Company seeks a halt because it is in discussions regarding a material capital raising and, particularly given the recent volatility in the Company&#8217;s share price, any loss of confidentiality with respect to these discussions may have a material impact on price of the Company&#8217;s shares. 
</p>
<p>
It is requested that the trading halt be put in place for the earlier of two trading days or when an announcement is made to the market. The Company will make an announcement as soon as practicable. The Company is not aware of any reason why the trading halt should not be granted. Yours Sincerely, Stephen Lonergan Company Secretary. 
</p>
]]></description>
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		<item>
		<title>ARH Appoints New CEO</title>
		<link>http://egolinews.com/news-and-views/arh-appoints-new-ceo/</link>
		<comments>http://egolinews.com/news-and-views/arh-appoints-new-ceo/#comments</comments>
		<pubDate>Wed, 28 Jul 2010 04:16:00 +0000</pubDate>
		<dc:creator>egoli</dc:creator>
				<category><![CDATA[Materials and Resources]]></category>
		<category><![CDATA[News and Views]]></category>

		<guid isPermaLink="false">http://egoli.com.au/news/post.aspx?id=04ee47a0-8d58-47b3-b15f-f90dbe2a4cec</guid>
		<description><![CDATA[<p>
Mr Zhenya (Dio) Wang, takes the reins as CEO. 
</p>
<p>
Australian iron ore exploration and development company Australasian Resources Ltd (Australasian or ARH) is pleased to announce the appointment of Mr Dio Wang to the position of Chief Executive Officer. Mr Wang&#8217;s appointment to the position is effective immediately. 
</p>
<p>
Mr Wang is a Civil Engineer with a Postgraduate Diploma in Planning and Design (Urban Planning) and Master of Engineering Structures. He arrived in Australia in 2003 and studied at the University of Melbourne, subsequently becoming an Australian citizen in May 2009.<br />
<br />
Mr Wang has been employed with Australasian since 2006 and during this time he has been involved in the successful completion of the Feasibility Study of the Balmoral South Iron Ore Project working as part of the project team. In the position of Chief Executive Officer, Mr Wang will provide technical and project direction along with peer support and leadership towards the search for strategic partner assisting the development of the Company&#8217;s projects, primarily its flagship Balmoral South Iron Ore Project, in the Pilbara region of Western Australia. 
</p>
<p>
Mr Wang has already been an integral participant in negotiations with a number of potential Chinese partners since 2006. His elevation to CEO in part strengthens the Company&#8217;s strategy to progress the finalisation of financing of the Balmoral South Iron Ore Project with particular emphasis on Chinese partners, in conjunction with the progression of discussions and negotiations with other potential strategic partners. 
</p>
<p>
The Company welcomes Dio Wang to the position of Chief Executive Officer and believes this appointment enhances Australasian&#8217;s management expertise as it continues to develop and seek long term partners for the Balmoral South Iron Ore Project. Yours faithfully Domenic Martino Chairman. 
</p>
]]></description>
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		<item>
		<title>ORD: Laos Feasibility Summary</title>
		<link>http://egolinews.com/news-and-views/ord-laos-feasibility-summary/</link>
		<comments>http://egolinews.com/news-and-views/ord-laos-feasibility-summary/#comments</comments>
		<pubDate>Wed, 28 Jul 2010 03:50:00 +0000</pubDate>
		<dc:creator>egoli</dc:creator>
				<category><![CDATA[Materials and Resources]]></category>
		<category><![CDATA[News and Views]]></category>

		<guid isPermaLink="false">http://egoli.com.au/news/post.aspx?id=252bed27-05a4-441b-873b-643fc4dacc56</guid>
		<description><![CDATA[<p>
Laos Project Feasibility Study Update: July 2010 
</p>
<p>
Ord River Resources Limited (ORD) is pleased to provide shareholders and the market with a further update on the Laos Project. ORD holds a 49% interest in Sino Australian Resources (Laos) Co., Ltd (&#8220;SARCO&#8221;), a joint venture company between ORD and China Nonferrous Metal Industry&#8217;s Foreign Engineering and Construction Co., Ltd (&#8220;NFC&#8221;). SARCO contracted Sinomine Resource Exploration Co., Ltd (&#8220;Sinomines&#8221;) to carry out a feasibility study valued at A$5.3million. Summary of Field Work ORD is pleased to report that field work for tenement LSI has been completed.<br />
<br />
Sinomines has completed drilling a total of 1,195 holes with 9,387.56 meters in depth. 1,012 holes with 8,072.39 meters in depth were drilled in LSI. Yuqida has had 183 holes drilled so far with 1,315.17 meters in depth.<br />
<br />
8,722 samples of rock core have been collected so far. Extensive geological and mapping work has also been completed. 352.25ha of land has been cleared of UXO to support the field work.<br />
<br />
This is a large amount of work completed in a short period of time since commencement of feasibility study in early March. Sinomines will now focus on completing all the necessary drilling analysis, core sampling, geological mapping, detailed analysis and preparation work during the wet season which just commenced. Sinomines has halted field work and returned majority of its field staff to China. Sinomines will return to Laos to complete field work as soon as the wet season finishes in late 2010. Managing Director, Peter Shou said, &#8220;We thank Sinomines for its hard work and look forward to continuing the field work after the wet season. We are confident that there will be positive results derived from such an extensive work program.<br />
<br />
We hold a firm belief in the tremendous value the Laos project will deliver to all stakeholders. We will continue to work hard with our JV partner NFC to advance the project to the next stage for investment and development. We look forward to updating our shareholders and the market further.&#8221; Weekly Update The following table summarises what has been completed in the previous week by Sinomine. If you have any questions please contact Frank Zhu, Head of Corporate Development via investor.relations@ord.com.au. Frank Zhu, CFA Head of Corporate Development Ph: 61 2 9250 1848.
</p>
]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ORD: Laos Feasibility Summary</title>
		<link>http://egolinews.com/news-and-views/ord-laos-feasibility-summary-2/</link>
		<comments>http://egolinews.com/news-and-views/ord-laos-feasibility-summary-2/#comments</comments>
		<pubDate>Wed, 28 Jul 2010 03:50:00 +0000</pubDate>
		<dc:creator>egoli</dc:creator>
				<category><![CDATA[Materials and Resources]]></category>
		<category><![CDATA[News and Views]]></category>

		<guid isPermaLink="false">http://egoli.com.au/news/post.aspx?id=252bed27-05a4-441b-873b-643fc4dacc56</guid>
		<description><![CDATA[<p>
Laos Project Feasibility Study Update: July 2010 
</p>
<p>
Ord River Resources Limited (ORD) is pleased to provide shareholders and the market with a further update on the Laos Project. ORD holds a 49% interest in Sino Australian Resources (Laos) Co., Ltd (&#8220;SARCO&#8221;), a joint venture company between ORD and China Nonferrous Metal Industry&#8217;s Foreign Engineering and Construction Co., Ltd (&#8220;NFC&#8221;). SARCO contracted Sinomine Resource Exploration Co., Ltd (&#8220;Sinomines&#8221;) to carry out a feasibility study valued at A$5.3million. Summary of Field Work ORD is pleased to report that field work for tenement LSI has been completed.<br />
<br />
Sinomines has completed drilling a total of 1,195 holes with 9,387.56 meters in depth. 1,012 holes with 8,072.39 meters in depth were drilled in LSI. Yuqida has had 183 holes drilled so far with 1,315.17 meters in depth.<br />
<br />
8,722 samples of rock core have been collected so far. Extensive geological and mapping work has also been completed. 352.25ha of land has been cleared of UXO to support the field work.<br />
<br />
This is a large amount of work completed in a short period of time since commencement of feasibility study in early March. Sinomines will now focus on completing all the necessary drilling analysis, core sampling, geological mapping, detailed analysis and preparation work during the wet season which just commenced. Sinomines has halted field work and returned majority of its field staff to China. Sinomines will return to Laos to complete field work as soon as the wet season finishes in late 2010. Managing Director, Peter Shou said, &#8220;We thank Sinomines for its hard work and look forward to continuing the field work after the wet season. We are confident that there will be positive results derived from such an extensive work program.<br />
<br />
We hold a firm belief in the tremendous value the Laos project will deliver to all stakeholders. We will continue to work hard with our JV partner NFC to advance the project to the next stage for investment and development. We look forward to updating our shareholders and the market further.&#8221; Weekly Update The following table summarises what has been completed in the previous week by Sinomine. If you have any questions please contact Frank Zhu, Head of Corporate Development via investor.relations@ord.com.au. Frank Zhu, CFA Head of Corporate Development Ph: 61 2 9250 1848.
</p>
]]></description>
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		<title>SIH: $10.8M Capital Raising</title>
		<link>http://egolinews.com/news-and-views/sih-10-8m-capital-raising/</link>
		<comments>http://egolinews.com/news-and-views/sih-10-8m-capital-raising/#comments</comments>
		<pubDate>Wed, 28 Jul 2010 02:25:00 +0000</pubDate>
		<dc:creator>egoli</dc:creator>
				<category><![CDATA[Materials and Resources]]></category>
		<category><![CDATA[News and Views]]></category>

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		<description><![CDATA[<p>
AUD$10.8M CAPITAL RAISING AT $0.14c PER SHARE ‐ FULLY UNDERWRITTEN PRIVATE PLACEMENT 
</p>
<p>
The Board of Directors of Sihayo Gold Limited (&#8220;the Company&#8221;) is pleased to announce the raising of A$10.8m via a fully underwritten private placement of 76.9 million ordinary shares at a price of A$0.14c per share. 
</p>
<p>
The placement is underwritten by Summit Investments Pty Ltd (&#8220;Summit&#8221;), the Company&#8217;s largest shareholder. The placement price of A$0.14c represents a significant premium of 39% to the 90 day &#34;VWAP&#8221; and 8% premium to the last traded price. (VWAP ‐ volume weighted average price) The issuance of shares shall occur in three tranches over a period not greater than 65 days from the date of this announcement. 
</p>
<p>
Summit will be the single largest participant in the placement together with other selected long‐term professional and/or institutional investors, which includes some existing shareholders. The funds raised will enable the Company to remain on target to complete the Definitive Feasibility Study (&#8220;DFS&#8221;) by December 2010, to continue the strong resource extension / exploration drilling program adjacent to and along strike of the existing Sihayo resource and to significantly increase explorations efforts on other identified mineral prospects across the Contract of Work (&#8220;COW&#8221;) area. Mr. Peter Bilbe, Chairman, says &#8220;Summit have demonstrated yet again their long term commitment to work with the Board and Management of the Company for the greater benefit of all shareholders.<br />
<br />
With the additional funding we are looking forward to progressing our DFS to completion by year end and seeking to advance our project into the construction phase next year.&#8221; Yours faithfully SIHAYO GOLD LIMITED PAUL WILLIS Chief Executive Officer. 
</p>
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		<title>VOR: High Grade Drilling Results</title>
		<link>http://egolinews.com/news-and-views/vor-high-grade-drilling-results/</link>
		<comments>http://egolinews.com/news-and-views/vor-high-grade-drilling-results/#comments</comments>
		<pubDate>Wed, 28 Jul 2010 01:58:00 +0000</pubDate>
		<dc:creator>egoli</dc:creator>
				<category><![CDATA[Materials and Resources]]></category>
		<category><![CDATA[News and Views]]></category>

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		<description><![CDATA[<p>
High Grade Drill Intersections at the Daltiin Ovor Gold Project 
</p>
<p>
Voyager Resources is very pleased to announce high grade drilling results from the North Hinge Zone at the Daltiin Ovor Gold Project. This initial programme was designed to delineate the geometry and nature of gold mineralisation underneath previously completed trenching. An additional drilling programme is currently being planned to follow up on these exceptional early results. 
</p>
<p>
Drilling returned exceptional results, including: <br />
<br />
3 metres at 50.59 g/t gold, 4.0% copper &#38; 31.3 g/t silver from 6 metres (DL_12_RC) <br />
<br />
9 metres at 10.45 g/t gold, 0.8% copper &#38; 16.8 g/t silver from 11 metres (DL_04_RC) <br />
<br />
9 metres at 10.40 g/t gold, 0.9% copper &#38; 14.3 g/t silver from 10 metres (DL_10_08_RC) <br />
<br />
4 metres at 6.66 g/t gold, 0.6% copper &#38; 6.75 g/t silver from 2 metres (DL_17_RC) Drilling was targeted at testing trenching results, which included: <br />
<br />
12 metres at 8.7 g/t gold, 24 g/t silver and 0.67% copper <br />
<br />
10 metres at 7.8 g/t gold <br />
<br />
15 metres at 5.4 g/t gold, 22 g/t silver and 0.5% copper <br />
<br />
11.4 metres at 8.8 g/t gold, 14 g/t silver and 0.63% copper 
</p>
<p>
A further RC drilling programme is now being planned to test strike extensions, down dip continuity and other mineralised areas that have been identified from previous trenching. Drilling has also indicated that the mineralisation is shallow dipping as opposed to the previous interpretation from mapping that indicated the system was steeply dipping.<br />
<br />
Mineralisation also remains open to the north west and south east. Drilling is currently being planned to recommence in August. The Company will also drill test a number of targets outside of the main hinge zone. This includes the central zone, where drilling has returned up to 3 metres at 6.28 g/t gold and the southern zone, where trenching has returned 10 metres at 7.8 g/t gold and 3 metres at 19.4 g/t gold. Voyager Resources continues to focus on growing its gold business in Mongolia through the acquisition, funding and focused development of high quality gold projects.<br />
<br />
The initial drilling results at Daltiin Ovor are highly encouraging and further drilling is being planned. The Company has also completed initial drilling programmes at the Argalant and Tsagaan Gold Projects, where results will be reported over the next month. The Company also continues to assess additional quality gold opportunities in Mongolia. Kell Nielsen Managing Director.
</p>
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