Resource Wrap: 10 June 2010 – AWE, EXS, MZI
June 10, 2010
AWE Limited (AWE) said that the Tui SW-2 well off the coast of New Zealand had been drilled to a total of 3,749 metres. The oil and gas producer said that oil shows were encountered as prognosed over 10 metres in the top of the objective F Sands. The company said it would aim to determine the significance of these in coming days.
Exco Resources Limited (EXS) said that its White Dam project was officially opened yesterday, despite the first gold pour from there in April. The junior miner however said the ramp-up to full leaching capacity was ongoing with production levels already exceeding the planned annualised rate of approximately 50,000 ounces per annum.
Matilda Zircon Limited (MZI) said it has relinquished its exploration tenements on Cape York in Northern Queensland, in order to focus on its near term production projects in the Northern Territory and Western Australia. The company said this was due to environmental sensitivity of the western Cape York region and the likelihood of a long and costly approval process. Matilda said the decision includes the relinquishing of the Tiwi Zircon project in the Northern Territory where it commenced mining last week, and the Keysbrook leucoxene project in the South West of Western Australia where it has secured environmental approval and is aiming to commence production next year. The company said the decision followed a recent decision by the Queensland Government to “lock up” part of a nearby bauxite project under the “Wild Rivers” legislation.
Exco Resources Limited (EXS) said that its White Dam project was officially opened yesterday, despite the first gold pour from there in April. The junior miner however said the ramp-up to full leaching capacity was ongoing with production levels already exceeding the planned annualised rate of approximately 50,000 ounces per annum.
Matilda Zircon Limited (MZI) said it has relinquished its exploration tenements on Cape York in Northern Queensland, in order to focus on its near term production projects in the Northern Territory and Western Australia. The company said this was due to environmental sensitivity of the western Cape York region and the likelihood of a long and costly approval process. Matilda said the decision includes the relinquishing of the Tiwi Zircon project in the Northern Territory where it commenced mining last week, and the Keysbrook leucoxene project in the South West of Western Australia where it has secured environmental approval and is aiming to commence production next year. The company said the decision followed a recent decision by the Queensland Government to “lock up” part of a nearby bauxite project under the “Wild Rivers” legislation.
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