Asian Activities Report for October 19, 2011: Gold One International (ASX:GDO) Announces Key Government Approval for Chinese Investment Offer
Sydney, Australia (ABN Newswire) - Gold One International Limited (ASX:GDO) today announces a milestone approval from the National Development and Reform Commission of China regarding the proposed transaction between Gold One and a consortium of Chinese investors seeking to become Gold One's major shareholder and long term strategic partner. Other key regulatory approvals required for the translation are currently on track. If completed, the transaction will result in significant funds invested into Gold One, including a cash offer of A$0.55 per share for a 60%-75% shareholding in Gold One and a minimum A$150 million capital injection.
TVN Corporation Limited (ASX:TVN) says today that the accelerated drilling program at the Nuurst Project in Mongolia has confirmed that coal seam development in the south western limb of the Nuurst Licence extends to the full width of the licence area of 1.5 km and along strike for a length of 3 km. Continuous thick coal sequence has also been confirmed. TVN will continue follow-up work on the Nuurst Project, whilst review the potential acquisition of other coking and thermal coal projects in Mongolia.
Robust Resources Limited (ASX:ROL) reports assay results from its ongoing drilling program at the Romang Island Project in Indonesia, demonstrating the potential for high-grade gold at depth. The Company will shortly report a maiden JORC mineral resource based on the first 22,000 metres of drilling, although the overall exploration drilling is still in the very early stages.
Metminco Limited (ASX:MNC) says today that the latest drilling results from its 100% owned Los Calatos copper/molybdenum project in Peru confirm the world class potential of the Project. The current drilling program has intersected mineralisation from surface to vertical depths of approximately 2000 metres. On completion of this drilling program the Company will commission a pre-feasibility study on the Project.
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