Asian Activities Report for October 18, 2011: Algae. Tec Limited (ASX:AEB) to Build Algae Demonstration Plant in Sydney for Alternative Fuel Solutions
Sydney, Australia (ABN Newswire) - Algae. Tec Limited (ASX:AEB), an advanced algae to biofuels company, has received regulatory approvals for the development of an algae demonstration plant in the south of Sydney. The plant will utilise the Company's technology that captures carbon dioxide waste and feeds into the algae growth system, offering solutions for carbon emitting companies and industries seeking carbon dioxide reduction technologies.
Helicon Group Limited (ASX:HCG) today announces the execution of a definitive agreement to acquire Aspen Medisys, which is in line with Helicon's strategy of identifying, acquiring and commercialising late stage therapeutic delivery technologies. Aspen's nanoparticle magnetic thermotherapy technology platform for the treatment of solid tumours and a range of other pathologies is considered to have significant clinical and commercial potential.
Alkane Resources Limited (ASX:ALK) has signed an agreement with the NSW Government to receive financial assistance for the infrastructure development of the Tomingley Gold Project in the Central West of NSW. The assistance will contribute to the total development cost budgeted at A$9.7M. The infrastructure development will include the upgrade of water and electricity supply, which will benefit both the Project and the local community.
Transerv Energy Limited (ASX:TSV) has completed the initial 10-day test of the Upper Zone at the Warro-4 onshore well in Western Australia. The Upper Zone has flowed gas and liquids with the aid of nitrogen lift as part of the well clean-up operations. During the last 12 hours of this nitrogen lift-assisted period, the well averaged 600,000 cubic feet of gas per day with an average of 810 barrels of water per day. The Company is monitoring the performance and clean-up of the Upper Zone in order to establish the appropriate future strategy for the testing program of the well.
Augur Resources Limited (ASX:AUK) reports extensive gold and copper results from the Randu Kuning prospect, Wonogiri project in Central Java. Results have confirmed the extension of mineralisation at depth and to the north. Two additional drill rigs are expected on site prior to mid-November for further drilling targeting extensions for potential high grade mineralisation.
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