Resource Wrap: 23 March 2010 – MCR, SRK, CFE, DMM
March 23, 2010
Mincor Resources NL (MCR) said recent drill-holes from its Miitel Nickel Mine in Kambalda intersected strong, high-grade mineralisation at both the northern and southern ends of the Miitel ore system, increasing the potential for significant new discoveries beyond the current resources. The company said the first hole in this surface-drilling program returned an intersection 420 metres beyond the boundary of the current mineral resource.
Strike Resources Limited (SRK) said that road access in the Cooper Basin had been cut by floodwaters from the Strzelecki Creek. The energy company said this would have a ‘serious impact’ on not only Strike but all companies working in the basin. The Southern Cooper CSG corehole programme in PEL 96, which was scheduled to commence in early April, would now be delayed by up to two months, the company said.
Cape Lambert Resources Limited (CFE) announced its intention to make an off-market takeover for shares in DMC Mining Limited (DMM). The company said under the terms of the offer, it would offer 40c for every one DMC Mining share. Cape Lambert said the offer represents a 33% to the closing price of DMC’s shares of 30c on 22 March 2010, the last trading day prior to this announcement. Cape Lambert currently holds an interest in DMC Mining of 36.2%.
Strike Resources Limited (SRK) said that road access in the Cooper Basin had been cut by floodwaters from the Strzelecki Creek. The energy company said this would have a ‘serious impact’ on not only Strike but all companies working in the basin. The Southern Cooper CSG corehole programme in PEL 96, which was scheduled to commence in early April, would now be delayed by up to two months, the company said.
Cape Lambert Resources Limited (CFE) announced its intention to make an off-market takeover for shares in DMC Mining Limited (DMM). The company said under the terms of the offer, it would offer 40c for every one DMC Mining share. Cape Lambert said the offer represents a 33% to the closing price of DMC’s shares of 30c on 22 March 2010, the last trading day prior to this announcement. Cape Lambert currently holds an interest in DMC Mining of 36.2%.
Leave a Reply