Asian Activities Report for June 6, 2011: Jervois Mining To Commence Feasibility Study For Nyngan Scandium Project
06.06.2011 | ABN Newswire
12:00 AEST June 6, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Most major Asian markets started this week in red. In early trade, S&P/ASX 200 dropped 0.48% to 4561. Nikkei 225 slid 0.94% to 9,403.06. Hang Seng Index lost 1.31% to 22949.56. Only Shanghai Composite performed positively, up 0.84% to 2728.02.
Companies
Jervois Mining Limited (ASX: JRV) said today that work has been advanced on a number of environmental and project site development activities at the Nyngan Scandium Project in New South Wales. An engineering firm has been selected to commence the project's feasibility study for completion by the end of this year. The project is a joint venture between Jervois and EMC Metals Corp (TSE: EMC), which is currently in the process of earning a 50% interest in the project.
Gascoyne Resources Limited (ASX: GCY) has intersected significant widths and grades of gold mineralisation at the south western target zone at the Company's 100% owned Glenburgh Gold project in Western Australia. The anomalous trends extend over 3,000 meters and an additional 5,000 - 8,000 meter drilling program is planned for June to further test this new extension.
Middle Island Resources Limited (ASX: MDI) has secured rights to acquire a significant, highly prospective land package known as the Nuon River Project in Liberia, West Africa. The Nuon River Project lies in one of the most technically prospective gold terrains in West Africa and represents the Company's first West African expansion beyond its initial assets in Burkina Faso and Niger.
Iluka Resources Limited (ASX: ILU) has concluded discussions with its major high grade titanium dioxide customers in the pigment market segment and has reached agreements with those customers on rutile and synthetic rutile prices and volumes for products to be delivered in the second half of 2011. As a result of these agreements, Iluka expects an increase in average price for its rutile products.
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