Essential assets for May 18

May 18, 2015 03:17 PM

Rox Resources Limited is pleased to report progress on the drilling program being undertaken at its 100% owned Fisher East Nickel Project located 500km north of Kalgoorlie in Western Australia. Results from the Cannonball prospect, located roughly midway between the Camelwood and Musket nickel sulphide deposits, indicate extensions to mineralisation previously reported.

Blackham Resources Ltd is pleased to confirm that its 100% owned subsidiary Matilda Operations Pty Ltd entered into the Western Australia Mining Rehabilitation Fund in late 2014 and as a result the Department of Mines and Petroleum has agreed to refund the $3.26 million in bonds on the Wiluna Gold Project. Under Blackham’s agreement to purchase a 100% of the Wiluna Gold Project, the Blackham Group was required to replace the bonds and take on the rehabilitation liability for the Wiluna Gold Project. Matilda Operations was required to pay the $3.26 million in environmental bonds on the transfer of the mining leases from the previous owner, Apex Gold Pty Ltd, to Matilda Operations. The mining lease transfers have now been processed by the Department of Mines and Petroleum and registered to Matilda Operations Pty Ltd .

VALMEC Limited is pleased to announce the award of the Eastern Goldfields Pipeline - Gas Pipeline Facilities Project by APA Operations Pty Limited. The Project is scheduled for immediate commencement and expected to run through until November 2015. VALMEC’s scope of work will comprise the supply, fabrication, installation, construction and testing of facilities required as part of APA Group’s $140 million Eastern Gas Pipeline Project.

Centrex Metals Limited announced that is has received all necessary FIRB and 3rd party approvals to complete the acquisition of the Oxley Potash Project in Western Australia from Sheffield Resources Limited. Completion and tenement transfer processes are now underway.

Molycorp, Inc. announced financial and operating results for the first quarter of 2015. They reported consolidated net revenues of $106 million, an 8% decrease over the fourth quarter of 2014.  The decrease in revenues was largely driven by a shifting product mix and softened pricing for rare earths, offset in part by increased volume.

Western Australian oil and gas junior Titan Energy Ltd has achieved commercial rates of production on the initial test well of the 2015 multi-well developmental drilling program at its Allen Dome project in Texas.

Rox Resources Limited is pleased to offer eligible shareholders the opportunity to apply for new, fully paid ordinary shares in Rox under a Share Purchase Plan to raise $3 million. The Plan is fully underwritten by Patersons Securities Limited who are acting as Lead Manager and Underwriter to the offer.

Potash West NL advises that a binding term sheet has been executed between East Exploration Pty ltd and Petratherm Limited, an ASX listed company. Potash West own 55% of East Exploration Pty ltd (EE), with the balance held privately. EE is the registered owner of the South Harz project, comprising two exploration licences, Küllstedt and Grafentonna, in Thuringia, Central Germany.

Rox Resources Limited is pleased to report that Downhole EM surveying recently undertaken at the Musket and Cannonball deposits at its 100% owned Fisher East Nickel project 500km north of Kalgoorlie WA, has produced some exciting results. In addition a diamond hole drilled at Musket North has extended mineralisation approximately 80m down plunge from a previous drill intercept (MFED058: 2.3m @ 4.1% Ni). The new intercept was: MFED064: 0.7m @ 3.6% Ni, including 0.14m @ 9.1% Ni from 457.5m.

Australian oil and gas company Titan Energy Ltd is pleased to announce it has acquired a major holding in another Texas Gulf Coast salt dome oil field, the Markham Dome located in Matagorda County, Texas.

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About the Author

Lauren is the editorial assistant for Futures Magazine. She graduated from DePaul University in 2013 with a degree in English.