Asian Activities Report for June 16, 2011: Tiger Resources Announce First Sales of Copper Concentrate From Kipoi Project
16.06.2011 | ABN Newswire
12:00 AEST June 16, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Major Asian markets all opened lower after global equity and commodities markets declined overnight. In early trade, the S&P/ASX 200 slid 1.23% to 4510.7. Nikkei 225 lost 0.82% to 9,495.71. Hang Seng Index fell 1.45% to 22020.16, while Shanghai Composite was 0.78% lower to 2684.22.
Companies
Tiger Resources Limited (ASX: TGS) announced the first sales of copper concentrate produced at its Kipoi Copper Project in Congo. Sales are expected to continue steadily as production is increased to achieve planned plant operating levels over the next two months. Tiger will produce an average of 35,000 tonnes per annum of copper in a 25% concentrate over the planned three year operating life of the Stage 1 heavy media separation plant at Kipoi.
Altura Mining Limited (ASX: AJM) announced that further drilling results from its Pilgangoora lithium project has upgraded the exploration target to 10-15 million tonnes at 1.5-1.7% Li2O. The Company will have an immediate focus on the current exploration target however has set a forward interim objective of locating 20 million tonnes of similar grade ores.
Cove Resources Limited (ASX: CVE) has identified a new gold target from soil sampling at the Goongarrie Project in Western Australia. The target extends over 240 metre strike length and further expands previous exploration success. Potential nickel areas have also been highlighted by soil sampling.
Voyager Resources Limited (ASX: VOR) has entered into a number of service contracts to facilitate the exploration of its key projects in Mongolia. The focus of this is two initial drill contracts for 20,000 metres of diamond core drilling and a further 5,000 metres of reverse circulation drilling to be completed at the Khul Morit Copper Porphyry Project and the high grade Daltiin Ovor Gold Copper Project.
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