Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Transit Holdings Limited (ASX:TRH) has commenced drilling on the second drilling site on the Company’s Paradox Basin Potash Project in the USA. The drilling will collect core samples of the potash horizons and is likely to confirm the presence of potash which has previously been detected by gamma logging of petroleum wells. All drilling information will then be used for the estimation of the project’s maiden JORC compliant resource.
Aphrodite Gold Limited (ASX:AQQ) announces further excellent results from its ongoing RC drill program at the Aphrodite Gold Project in Western Australia. Highest grade and longest gold intersections ever from any of the Company’s drill programs are reported. Drilling continues to confirm the presence of multiple, wide zones of gold mineralisation within potentially open pit mine depths. Drilling will continue to mid-December.
Bathurst Resources Limited (ASX:BTU) announces a 37% increase in the JORC reserves to 17.3 million tonnes of ROM coal at its Buller Coal Project in New Zealand. The JORC resources of the project have also increased by 12% to 81.7 million tonnes. The Company will focus on drilling in the next 6-12 months to continue to increase the reserves and resources at South Buller. Work on North Buller will also commence as part of the current pre-feasibility program.
Sirius Resources (ASX:SIR) has discovered a broad zone of nickel, copper and cobalt enrichment in the first ever drilling at the Eye prospect at its 70% owned Fraser Range project in Western Australia. A diamond drill rig is on site and drilling will commence in the near future with the primary aim of better characterising the nature of the rocks beneath this zone.
Asia Business News Sydney Tel: +61-2-9247-4344 Tokyo Tel: +81-3-6868-3802 http://www.abnnewswire.net
