Victory West Moly Limited (ASX:VWM) (ETR:R1E) is pleased to advise the receipt of A$500,000 representing the first tranche of the A$1 million Commitment Fee from its joint venture partner China Guangshou Group Corp (CGGC) as part of their obligations to invest in the Malala Molybdenum Project in North Sulawesi, Indonesia.
Victory West Moly Limited (ASX:VWM) is pleased to announce the imminent commencement of construction and development activities at the USSU Nickel Project.
Australian Market Report of February 18, 2011 includes: YTC Resources Limited (ASX:YTC) announced further strong drill results from the northern section of the Nymagee Copper Deposit; Meridian Minerals Limited (ASX:MII) has signed a non-binding Heads of Agreement to acquire a 75% interest in the non-alluvial assets of Russian gold company ZAO ZRK Omchak; Peninsula Energy Limited (ASX:PEN) confirmed high grade uranium resource in South Africa; Hot Rock Limited (ASX:HRL) commences its first major exploration program at two geothermal projects in Chile.
Tectonic Resources NL (ASX:TTR) announce the successful completion of the independent Definitive Feasibility Study on its 100% owned Phillips River Project demonstrating a viable project, generating over A$1 billion in revenue and A$224 million (pretax) in net cash over a 10 year life of mine.
Victory West Moly Limited (ASX:VWM) (ETR:R1E) advise that its joint venture partner China Guangshou Group Corp (CGGC) is poised to start aggressive work program on the Malala Molybdenum Project in North Sulawesi, Indonesia after CGGC has agreed to advance the first A$500,000 cash payment provided for as part of the pair's joint venture agreement.
Australian Market Report of February 1, 2011 includes: Exoma Energy (ASX:EXE) signed farm-in agreement with CNOOC (HKG:0883); Moly Mines Limited (ASX:MOL) (TSE:MOL) has received loan commitment from China Development Bank for up to US$250 million; Asciano Group (ASX:AIO) secures another 3.5 million tonnes contract with Anglo American; Kidman Resources Limited (ASX:KDR) reported encouraging near-surface copper results in New South Wales.
Victory West Moly Limited (ASX:VWM) (ETR:R1E) announce that subject to due diligence is to acquire via way of equity earn-in a 75% equity interest in a highly prospective copper/gold project located in Toraja province, South Sulawesi.
