Australian Market Report of December 13, 2010: Altura Mining - Received Approval for Lithium Drill Program in WA
Sydney, Australia (ABN Newswire) - Altura Mining Limited (ASX:AJM) has received approval from the Western Australian Department of Mines and Petroleum for the upcoming drill program at Pilgangoora Lithium Project in WA. Approval will enable surface works including construction of drill pads and installation of access tracks to be completed in preparation for drill commencement in early January 2011. Drilling will establish dimensions of pegmatite, lithium grades and the resource potential.
Orion Metals Limited (ASX: ORM) has received highly encouraging gold results from 30 shallow RC drill holes (total of 366 metres) which were recently completed at Killi Killi Hills Gold-Rare Earth Element Project. This programme was a preliminary scout drilling exercise to test surface rare earth element and gold mineralisation which was previously confirmed in the outcrop rock chip sampling undertaken earlier in the year. Gold results averaged 6 meters at 5.85 g/t Au. Further assessment will be made when the rare earth element results are received.
Pharmaceutical company Pharmaxis (ASX: PXS) today announced that the Australian Advisory Committee on Prescription Medicines has recommended approval of Bronchitol (inhaled dry powder mannitol) for marketing in Australia for the treatment of cystic fibrosis. Bronchitol has been the subject of two pivotal clinical trials in cystic fibrosis in over 600 people involving 93 hospitals around the world. In April 2009 Bronchitol was awarded Orphan Drug designation in Australia for the treatment of patients with cystic fibrosis to improve lung function and reduce exacerbations.
Tabcorp Holdings Limited (ASX: TAH) today announced an expansion of its investment program in its three Queensland casinos from the A$175 million investment to A$625 million. The investment will deliver three world class entertainment destinations and provide a boost for the tourism and entertainment sectors in the state. The investment program will turn the casinos into attractive destinations for Queenslanders, interstate visitors and international tourists. It will significantly expand the number of hotel rooms, restaurants and event space, and will add new nightlife venues and spa and pool facilities. The investment includes the construction of two new hotels - one in Brisbane and one on the Gold Coast.
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