Resource Wrap: 25 January 2010 – SRL, WPL
January 25, 2010
Straits Resource Limited (SRL) said annual production remained on target for 25,000 tonnes of copper after the company produced 5,324 tonnes of copper in concentrate at its Tritton mine for the December quarter, an 18.4% decrease on the previous quarter. The company said the major reason for the reduction was the fall in grade from 2.79% copper to 2.36% Cu. Straits said grades at the Tritton mine are expected to increase in the current quarter resulting in an increase in production and decrease in cash costs. The company produced 9,840 ounces of gold at Mt Muro, up 12% on the previous period. Straits also agreed to the sale of the Whim Creek SX-EW plant, which closed during the quarter producing 332 tonnes of copper. The company said as at the end of December 2009, its cash resources totalled $261 million.
Woodside Petroleum Limited (WPL) said its Noblige-1 exploration well has indications of gas from measurement-while-drilling logs at several levels, including over a gross interval of about 300 metres. The company said the well, in Western Australia’s Carnarvon Basin in the Greater Pluto area, is currently drilling ahead to its deeper targets before full evaluation, including obtaining wireline logs and pressure data. Woodside said the data is required to determine the number of hydrocarbon zones, their size and resulting implications.
Woodside Petroleum Limited (WPL) said its Noblige-1 exploration well has indications of gas from measurement-while-drilling logs at several levels, including over a gross interval of about 300 metres. The company said the well, in Western Australia’s Carnarvon Basin in the Greater Pluto area, is currently drilling ahead to its deeper targets before full evaluation, including obtaining wireline logs and pressure data. Woodside said the data is required to determine the number of hydrocarbon zones, their size and resulting implications.
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