Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
View Proactive Investor's Instablogs on:
  • Arc Exploration Granted New Queensland Gold Permit

    Arc Exploration (ASX:ARX) has been granted a new exploration permit that gives the company a stronger ground position in the highly prospective Mount Garnet mineral district in northern Queensland.

    Notably, it is located less than 1 kilometre from Triple Crown gold deposit that it has an option to joint venture with Snowmist Pty Ltd.

    Triple Crown, which occurs in one of the optioned mining leases held by Snowmist, has a Resource of 69,000 ounces with historic drilling returning broad low-grade gold intercepts including 22 metres at 2.33 grams per tonne gold, 51 metres at 1.73 g/t gold and 35 metres at 1.39 g/t gold.

    EPM 25343 comprises 6 discontinuous sub-blocks and is believed to contain the same package of rocks that is host to Triple Crown and may be prospective for additional gold resources and other metals including tin and base metals.

    "This is a strategic step toward establishing a stronger ground position in the highly prospective Mount Garnet mineral district in which we already hold an option to joint venture into a mining tenement package owned by Snowmist Pty Ltd that contains the Triple Crown gold breccia deposit," managing director Dr. Jeff Malaihollo said.

    "The new exploration permit is located close to these mining tenements.

    "Our initial work program will include a more detailed literature search on previous exploration and a ground assessment to confirm the potential of the area for additional gold resources."

    Arc plans to undertake an initial program of surface prospecting and rock chip sampling.

    Mount Garnet Project Background

    The Mount Garnet Project located near the major regional centre of Cairns, comprises three Mining Leases covering about 150 hectares that are wholly-owned by Snowmist.

    These include the 69,000-ounce Triple Crown gold deposit.

    Triple Crown is a pipe-like gold-breccia and stockwork deposit that has only been drilled to shallow depth and is believed to be open at depth.

    Several surrounding gold prospects have also been identified. The Company believes that there is significant potential for discovering additional gold resources through further exploration.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

    Jul 09 9:15 PM | Link | Comment!
  • Rubianna Resources Adds Substantial Shareholder

    Rubianna Resources (ASX:RRE) has received a notice of initial substantial shareholding from Lyell Pty Ltd, which holds a 8.52% interest in the company,

    Lyell had acquired the 18.5 million shares it holds through Rubianna's $170,000 placement and subsequent $542,978 fully underwritten rights issue.

    It had subscribed for 3 million shares for $30,000 under the placement and 15.5 million shares for $77,500 under the rights issue.

    Rubianna recently intersected gold of up to 17.76 grams per tonne gold at its Ruby Anna East prospect northeast of Meekatharra, Western Australia.

    It had raised a total of $712,978 through its placement and entitlement offer to fund the ongoing review, evaluation and exploration programs on its existing projects and to review new projects.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

    Jul 09 9:12 PM | Link | Comment!
  • Potash West Raises Funds To Stimulate Growth

    Potash West (ASX:PWN) has completed an $800,000 placement at $0.035 to advance its Dinner Hill Phosphate project in Western Australia.

    The placement was made to clients of Helmsec Global Capital and other sophisticated investors.

    The Company has a major land holding over one of the world's largest known glauconite deposits, with exploration licenses and applications covering an area of 2,700 square kilometres in the Dandaragan Trough near Gingin.

    Previous exploration indicates glauconite sediments are widespread for more than 150 kilometres along strike and 30 kilometres in width.

    The current JORC complaint Indicated Mineral Resources stand at 241 million tonnes at 3% K2O, including 120Mt at 4.6% K2O amenable to processing by the low cost K-Max process, and 120Mt at 2.85% P2O5 of phosphate mineralisation.

    Recent testwork on the chalk zone demonstrated the potential to recover phosphate from the chalk by implementing a selective flotation regime.

    The results have shown that an overall phosphate recovery of 58.1% from processing the chalk at Dinner Hill.

    Processing the chalk allows for simpler mining, a lower strip ratio and longer mine life to that proposed in the Scoping Study.

    Potash West is in the process of re-configuring the mining block model, which will lead into a revision of the economic analysis.

    The ability to process the chalk is seen as a significant step in the development of the Dandaragan Phosphate Project.

    Analysis

    Successful commercial outcomes at Dinner Hill would render PWN a major contributor to the potash market at a time of increased demand.

    The proposed independent superphosphate operation at Dinner Hill should enjoy low capital costs - making it more palatable to financiers - as well as low mining costs, a simple processing route, acceptable recoveries and cheap acid supply.

    There is considerable scope to enhance project metallurgy, and construction of a combined phosphate plant and K-max plant to produce potash and alum products from the same feed material.

    This will not only result in higher phosphate production, but also lower costs.

    Taken together, this provides the company with the confidence to move forwards towards a Definitive Feasibility Study.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

    Jul 09 9:09 PM | Link | Comment!
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.