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Live Quotes & Charts - Australia
24 Hour Spot Gold Price
The Board of Petroz NL has rejected the merger by Scheme of Arrangement as proposed by Novus Petroleum Limited on September 12.
Petroz Directors have determined that while bringing Novus and Petroz together had merit in terms of combined strength of reserves and assets, the proposed Offer of one Novus share for every 4.5 Petroz shares did not represent fair value for Petroz shareholders.
FMR Corp increased its relevant interest in Murchison United NL on 21/09/2000, from 6,286,600 ordinary shares (8.03%) to 7,286,600 ordinary shares(9.21%).
NEW ISSUE ANNOUNCEMENT
The new registered address for Prima Resources Limited is:
Suite 2
1233 High Street
Armadale, Victoria, 3143
Tel: (03) 9824 8166
Fax: (03) 9824 8161
Guinness Peat Group plc became a substantial shareholder in Petroz NL on 27/09/2000 with a relevant interest in the issued share capital of 9,892,492 ordinary shares (5.03%).
Notice is hereby given that the Annual General Meeting of Quantum Resources Limited will be held at the Kimberley Gardens Hotel, 441 Inkerman Street, St Kilda East, Victoria, 3183 Australia on Thursday 9 November 2000, commencing at 11:30 am.
Rio Tinto has received approval for its proposed acquisition of Ashton Mining Limited from the Foreign Investment Review Board. This approval means that condition 2.6(c) of the offer to be made for Ashton shares has been satisfied.
1. ONSHORE UK:
SALTFLEETBY (ROC: 100%)
Operating constraints at Conoco's Theddlethorpe Gas Terminal, which have caused rate reductions through September for all producers to the plant, have been largely resolved and Saltfleetby production has returned to around 38 mmscf/d. It is expected that all restrictions will be lifted during the coming week with Saltfleetby to produce at 40 mmscf/d.
The Roc Explorer rig is currently rigging down having run the completion equipment for the Saltfleetby 5 well and performed a short cleanup flow. The well is suspended ready to flow gas once the tie in to the facilities and export pipeline is complete. First commercial gas sale from the well is expected in early November.
2. UK NORTH SEA:
KYLE NORTHEAST APPRAISAL WELL (ROC: 12.5%)
The 29/2c-13 well, also known as the North East Appraisal well, is continuing to run completion equipment, having experienced delays due to weather and some minor technical difficulties. Flow testing of the well is expected to occur in the next two weeks following perforation and acid stimulation.
KYLE 29/2C-12Z EXTENDED WELL TEST (ROC: 12.5%)
The DTI has indicated its willingness to consent to an extension of the time period for the 29/2c-12z extended well test ("EWT") with the initial consent volumes for oil and gas production, and gas flaring, remaining unchanged. The new test duration period. is up to the 15th November 2000. At this time, it is forecast that a total of 1.5 million barrels of oil will have been produced from the well on EWT.
CHESTNUT (ROC: 29.75%)
A letter of award has been issued and accepted for the Trans Ocean rig 'John Shaw' to drill the first Chestnut development well, contingent on signing the rig contract by the 12th October 2000. Brovig expects to sign this contract within the next week, after clarifying a number of insurance issues, and the well is expected to commence drilling during December. Given a successful completion of the planned horizontal well, an EWT will be conducted, with likely first oil production on test late in the first quarter 2001.
ROC's interest in the Chestnut Field has been increased to 29.75% following the acquisition of Conoco's 12% interest in the field (ASX Release 11 September 2000). ROC and the other joint venture partners will be free carried by Brovig through the drilling of the well and the EWT.
3. EAST GOBI BASIN, MONGOLIA:
IRWES-1 (ROC: 100%)
The Irwes-1 well has been plugged and abandoned after drilling to a total depth of 1,300 metres. Minor gas shows were recorded in the well, but no oil shows were reported. The well intersected good reservoir sands in the primary objective above 710 metres.
For all practical purposes the Irwes-1 well represents the first modern exploration well in Mongolia. The well results will be integrated into ROC's ongoing evaluation of the acreage and the costs of the well will be expensed in the company's third quarter results.
TEMEE-1 (ROC: 100%)
The surface conductor for the Temee-1 exploration well has been set and the well is due to spud by early next week. Drilling activity on the well is expected to be completed during October.
Notice is hereby given that the 19th annual general meeting of Wesfarmers Limited will be held in the Grand Ballroom, Hyatt Regency Perth, 99 Adelaide Terrace, Perth, Western Australia on Monday 6 November 2000 at 2.00 pm.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 8,981,450
EXPLORATION AND DEVELOPMENT UPDATE
L1/L2
Re-mapping and re-interpretation of the pre-stack depth migration reprocessing of the Dongara 3D data has identified a number of high potential appraisal and development locations. In particular, the depth re-mapping of the Yardarino Field area has identified a potentially very attractive appraisal/development location. Further technical work on this area is required, including completion of a reservoir simulation, but preliminary interpretation suggests there could be up to 30 BCF of gas reserves remaining in the structure together with a significant amount of oil.
Subject to funding, rig availability and completion of technical work, it is currently intended to drill a Dongara development well, a Yardarino appraisal/development well and a wildcat exploration well early in the first half of 2001.
WA286P
The Cliff Head site survey is currently being conducted to confirm the suitability of the Cliff Head 1 drilling location. All other approvals for the well are in place and drilling will take place as soon as a suitable rig has been contracted. This is currently still most likely to be in the first half of 2001.
AC/P27
Good progress has been made in the farmout efforts for this permit with a recent increase in interest driven by the current and projected strength in oil prices. Subject to completion of farmout negotiations and rig availability, it is anticipated that this well will also be drilled in the first half of 2001.
NEW ISSUE ANNOUNCEMENT
NEW ISSUE ANNOUNCEMENT
GOCERLER-1 WELL, REPUBLIC OF TURKEY
PROGRESS REPORT - 28 SEPTEMBER, 2000
Depth at Midnight,
27 Sept rig time:
(0500 Hrs 28 Sept WST): 396m KB
Geology: 309-396m. Interbedded 50% conglomerate, white to pale green, quartz and rock fragments poorly sorted, weakly cemented and 50% claystone, grey to pale green, soft, rare pyrite and sand.
Pliocene age Ergene Formation.
Hydrocarbons: Trace C(I)
Operations Last 24 Hrs: Drill out float collar and drill to 314m, conduct formation integrity test, drill 311 mm (12(1/4) inch) hole to 343m, trip out of hole for new bottomhole assembly, drill ahead to 396m.
Proposed Operations
Next 24 hrs: Drill ahead in 311mm (12(1/4) inch) hole.
Last Casing: 340mm (13(3/8) inch) casing to 309m.
Target: Oligocene age Osmancik Sandstone Formation in four way dip closure, with direct hydrocarbon indications on seismic. Target size, 30 billion cubic feet of gas recoverable, if gas is present.
Target Depth: 1525m to TD.
Proposed Total Depth: Between 1620 and 1900mKB.
Well Location: 150 kilometres west of Istanbul.
Latitude 41deg 21'04"N,
Longitude 27deg 46'E.
Basin: Onshore Thrace Basin
Nearest Producing
Field: Yulafli gasfield, 15 kilometres to southeast.
Bullion Minerals Limited was admitted to the official list of Australian Stock Exchange Limited on Wednesday 27 September 2000.
Official quotation of the following securities will commence on Tuesday 3 October 2000.
Quoted securities: 21,990,855 fully paid ordinary shares; and 21,990,855 options exercisable at 20 cents each on or before 30 June 2004
ASX Code: BLN (ordinary shares)
BLNO (options)
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 11,432,456
Fletcher Challenge
Drilling & Production Testing Report
For the week ending 27/09/2000
Country : New Zealand
Block Area: PML 381012
or Prospect
Well Name : MB-6
or Location
Objective : Deviated development well primarily targeting Maui B D1.6 (3028m true vertical depth subsea (TVDSS)) and D1.10 (3073m TVDSS) oil reservoirs.
Current Status : * Drilled 8 1/2" sidetrack from 2937m to 3658m (TD)
* Ran and cemented 7" liner
* Current operation at 06:00hrs on September 28th, preparing to run cement bond log
Golden State Resources Limited announces a placement of 5,407,171 ordinary fully paid shares in the Company at an issue price of 7.75 cents per share raising $419,056.
This placement has been made to clients of D&D Tolhurst Limited. The placement shares will be listed and rank pari pasu with all of the Company's existing listed shares. D&D Tolhurst will be entitled to a placement fee of 5% of the amount raised.
The Company intends utilising the funds for general working capital.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 21,516,673
The Record Date to determine Kimberley shareholders entitlements to the bonus issue of shares in Namakwa must be at close of business on 10 October 2000.
The Company announces Namakwa will undertake a bonus issue of shares on the basis that for every 50 Kimberley shares held, as at close of business on 6 October 2000, one new ordinary fully paid Namakwa share will be issued free of charge. Subsequent to this bonus issue, Kimberley shareholders will directly own 50 percent of Namakwa, with the other 50 percent being owned by South African interests. Namakwa's total issued capital will comprise 4,022,163 ordinary shares after the issue.
Kimberley will lend sufficient funds to Namakwa to enable Namakwa to acquire full ownership of the West Coast Diamond projects (subject to all due diligence being completed). These funds will be repayable to Kimberley in cash or shares.
Namakwa will immediately proceed with the preparation of an Initial Public Offering prospectus to raise appropriate funds to fully explore and develop its West Coast Diamond projects.
1. The Directors of Mount Conqueror Minerals NL advise that the Heads of Agreement with Wilson Neill Corporation Limited, pursuant to which it was proposed that Mount Conqueror acquire all the issued shares in Onthenet Networks Limited has been terminated.
2. WNC has advised that various domestic opportunities in New Zealand make it impractical to implement the transaction with Mount Conqueror.
3. Mount Conqueror will, at this stage, continue its existing operations as a gold exploration company.
4. Mount Conqueror will liaise with ASX to arrange re-quotation of the shares of Mount Conqueror as soon as possible.
NEW ISSUE ANNOUNCEMENT
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 2,505,245
SANTOS LIMITED - SUMMARY OF DRILLING
WEEK ENDING 28/09/2000
QUEENSLAND
WELL: Rolleston 18
TYPE: Gas Appraisal/Development
LOCATION: PL 42, Denison Trough, QLD. 0.8km E of Rolleston 13, and some 140km N of Roma
STATUS AT 28/09/2000 0600 HOURS: Rolleston 18 has been cased and suspended as a future gas producer. The well reached a total depth of 1030m, with 690m progress for the week. An open hole flow test over the interval 922m-1030m in the Freitag and Aldebaran Formations flowed gas to surface at a rate of 12,800 cubic metres (0.452 million cubic feet per day) through a 9.5mm (3/8") surface choke. The rig was released on 26/09/2000.
PLANNED TOTAL DEPTH: 1030m
OFFSHORE WESTERN AUSTRALIA
WELL: Cowle 5m
TYPE: Oil Development
LOCATION: TL 4, Offshore Barrow sub basin. 12km SSW from Thevenard Island.
STATUS AT 28/09/2000 0600 HOURS: Cowle 5m has been completed. The well reached a total measured depth of 2686m (1095m TVD), with no progress for the week. The rig was released on 27/09/2000.
PLANNED TOTAL DEPTH: 2757m MD, 1097m TVD.
WELL: Rhebok 1
TYPE: Oil Exploration
LOCATION: WA-261-P, Dampier sub basin, 8km S of the Stag Oilfield, 4km NE of Longhorn 1, 6km SE of Antler 1, and approximately 60km NW of Dampier.
STATUS AT 28/09/2000
0600 HOURS: The well has been plugged and abandoned. The well spudded on 22/09/2000, and reached a total depth of 1082m. The rig was released on 27/09/2000.
PLANNED TOTAL DEPTH: 1084m
WELL: P83A
TYPE: Oil Development
LOCATION: L-IH, Barrow Island
STATUS AT 28/09/2000 0600 HOURS: Drilling ahead. Current measured depth and progress for the week is 631m. The well spudded on 24/09/2000.
PLANNED TOTAL DEPTH: 782m
PAPUA NEW GUINEA
WELL: SE Gobe 8
TYPE: Oil Development
LOCATION: PDL 3, Southern Highlands, Papua New Guinea.Tangential well being drilled from SE Gobe 1 location.
STATUS AT 28/09/2000 0600 HOURS: Drilling ahead. Current measured depth is 1527m, with 506m progress for the week.
PLANNED TOTAL DEPTH: 3626m MD, 2362m TVD.
USA
WELL: Runnels #3
TYPE: Gas Exploration
LOCATION: Ashland Deep Prospect, Matagorda Country Texas.
STATUS AT 28/09/2000 0600 HOURS: Drilling ahead at 3239m with 121m progress for the week.
PLANNED TOTAL DEPTH: 4572m
SANTOS LIMITED - SUMMARY OF DRILLING
WEEK ENDING 28/09/2000
WELL: South Australia - Moomba 120DW
TYPE: Gas Development
LOCATION: PPL 7, Moomba Block, 0.4km SW of Moomba 7, 1.8km S of Moomba 75, and some 10km E of the Moomba Gas Plant.
STATUS AT 28/09/2000 0600 HOURS: Drilling ahead. Current measured depth is 2526m, with 349m progress for the week.
PLANNED TOTAL DEPTH: 3147m MD, 2761m TVD
WELL: Queensland Warnie 1
TYPE: SWQ Unit Gas Exploration
LOCATION: ATP 259, Aquitaine A Block, 8.4 km W of Warnie East 1 12.9km N of Lambda 1, and 72km SW of the Ballera Gas Centre.
STATUS AT 28/09/2000 0600 HOURS: Drilling ahead. Current depth is 2166m with 1250m progress for the week.
PLANNED TOTAL DEPTH: 2925m
WELL: Wackett 11
TYPE: SWQ Unit Gas Appraisal/Development
LOCATION: ATP 259, Aquitaine A Block, 2km NNW of Wackett 3, 3.9km NW of Wackett 9 and some 20km ESE of the Ballera Gas Centre.
STATUS AT 28/09/2000 0600 HOURS: Drilling ahead. Current depth is 1924m, with 1447m progress for the week.
PLANNED TOTAL DEPTH: 1965m
WELL: Barrolka 4
TYPE: SWQ Unit Gas Development
LOCATION: PL 112, ATP 259P, Aquitaine B Block, 2.1km NE of Barrolka 1, 31km SSE of Barrolka 2, and 55km N of the Ballera Gas Centre.
STATUS AT 28/09/2000 0600 HOURS: Pressure testing blow out preventors at surface casing point. Current depth and progress for the week is 920m The well spudded on 23/09/2000.
PLANNED TOTAL DEPTH: 2652m
SANTOS LIMITED - SUMMARY OF DRILLING
WEEK ENDING 28/09/2000
SOUTH AUSTRALIA
WELL: Milluna 2
TYPE: Gas Development
LOCATION: PPL 139, Nappacoongee Murteree Block, 800m NW of Milluna 1 and 40km SE of the Moomba Gas Plant
STATUS AT 28/09/2000
0600 HOURS: Milluna 2 has been cased and suspended as a future Permian gas producer. The well reached a total depth of 2310m, with 738m progress for the week. The rig is to be released this morning (28/09/2000).
PLANNED TOTAL DEPTH: 2349m
WELL: Big Lake 65
TYPE: Gas Development
LOCATION: PPL 11, Moomba Block, 0.4km N of Big Lake 9, 0.3km S of Big Lake 36, and some 13km SE of the Moomba Gas Plant.
STATUS AT 28/09/2000 0600 HOURS: Drilling ahead. Current depth is 2530m, with 576m progress for the week.
PLANNED TOTAL DEPTH: 3031m
WELL: Merrimelia 40
TYPE: Gas Development
LOCATION: PPL 17, Merrimelia Innamincka Block, 0.26km N of Merrimelia 12, 0.51km W of Merrimelia 14 and some 40km NNW of the Moomba Gas Plant.
STATUS AT 28/09/2000 0600 HOURS: Drilling ahead. Current depth and progress for the week is 1759m. The well spudded on 22/09/2000.
PLANNED TOTAL DEPTH: 2463m
OIL COMPANY OF AUSTRALIA LIMITED ON BEHALF OF THE PL 42 JOINT VENTURE ADVISES THAT:
Rolleston No 18 a gas development well, situated approximately 800 metres east of Rolleston No 13, latitude 24 deg, 32 min 30.35 sec south, longitude 148 deg 37 min 40.36 sec, east, was spudded at 19:00 hours on September 18, 2000 and has been suspended as a future gas producer. The well reached a total depth of 1030 metres rt 245 mm surface casing was set at 160.2 metres rt and 178 mm intermediate casing was set at 921.5 metres. Progress for the week was 690 metres.
Flow test No 3 over the interval 922 to 1030 metres in the Freitag and Aldebaran formations flowed gas to surface at a rate of 12,800 cubic metres (0.452 million cubic feet) per day through a 9.5 (0.375 inch) surface choke.
The securities of Paladin Resources Limited will be reinstated to Official Quotation prior to the commencement of trading on Friday 29 September 2000 following the release of the Company's announcement dated 28 September 2000 to the market concerning a proposal to change its activities.
Security Codes: PDN
PDNOA
PDNOB
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 2,923,958
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 2,921,958
All shares on which the call of one cent per share due on 31st August 2000 remains unpaid are to be auctioned at the Lecture Theatre of the Australian Stock Exchange Ltd, Level 5, 123 Eagle Street, Brisbane, on Thursday 12th October 2000 at 10.00am.
Any shareholders who have not paid the Call may redeem their shares by paying the one cent per share call at any time prior to the day of the auction. Payment should be forwarded to the company's share registry, Messrs Douglas Heck & Burrell, GPO Box 35, Brisbane QLD 4001.
LETTER TO SHAREHOLDERS
IGNORE THE LETTER FROM CHRIS RYAN AND ROBERT CATTO - YOUR DIRECTORS DO NOT SUPPORT THEIR VIEWS
You will have recently received a letter dated 25 September 2000 from Mr C Ryan and Mr R Catto encouraging you to vote against the proposal that Taipan merge with St Barbara Mines Limited (SBM).
Mr Ryan and Mr Catto jointly hold approximately 1% of the Taipan fully paid shares and 4% of the partly paid shares. They have expressed views contrary to those of your directors and the independent experts engaged by Taipan and SBM respectively.
There has been no change in the opinion of your directors that the merger with SBM is in the best interests of Taipan shareholders. Consequently, your directors remain fully supportive of the merger and recommend shareholders vote in favour of the merger at the Taipan shareholders' meeting convened for that purpose.
The Company advises that from Monday, 2 October 2000 our share registry will be changing their address. Up dated details are as follows:
Computershare Registry Services Pty Limited
Level 5, 115 Grenfell Street
Adelaide SA 5000
(PO Box 1903, Adelaide SA 5001)
Tel: 08 8236 2300
Fax: 08 8236 2305
All Ords
3236.8
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1341.2
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All Mining
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Gold - spot/oz
US$275.8
All Gold
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US$4.90
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US$575.0
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Energy
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US$702.0
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US$30.34
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US$1962
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US$512
+1
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US$1201
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US$8930
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US$1586
US 30-Year Bond
5.884%
-0.015
Tin (spot $US/tonne)
US$5370
Live Quotes & Charts - Australia
24 Hour Spot Gold Price
Alcaston Mining NL has moved to broaden its Australian mineral exploration interests with the application for a 240 square kilometre Exploration Licence (E51/956) in the north of the Archean Yilgarn Block in Western Australia.
The Licence, known as Nanadie Well, which is located between the mining centres of Sandstone, Meekatharra and Gidgee, is prospective for copper/gold and nickel, with geological potential for platinum group metals, vanadium and diamonds.
The Barrambie vanadium deposit is located in a similar geological setting about 16 kilometres along strike to the south.
Ashton has received notice from its major shareholder Malaysia Mining Corporation Berhad that Wednesday's extraordinary general meeting approved the proposed disposal of MMC's shareholding in Ashton.
Metcoal Holdings (Qld) Pty Ltd increased its relevant interest in Qct Resources Limited on 27/09/2000, from 1,728,770 ordinary shares (0.25%) to 1,957,426 ordinary shares(0.28%).
Fletcher Challenge
Drilling Summary Report
For the week ending 27/09/2000
Country : Canada
Block Area: Dinosaur
or Prospect
Well Name : 10-3-30-19
or Location W4M
Objective : An Exploration well testing Nisku Oil
Current Status : * Spud: 12/09/2000
* Rig released 23/09/2000 D & A
Block Area: Bashaw
or Prospect
Well Name : 12-1-42-23
or Location W4M
Objective : A Development well testing Basal Belly River Gas.
Current Status : * Spud: 17/09/2000
* Rig released 17/09/2000. Potential Belly river
gas well.
Block Area: Bashaw
or Prospect
Well Name : 2-23-42-23
or Location W4M
Objective : A Development well testing Basal Belly River Gas
Current Status : * Spud: 20/09/2000
* Rig released 24/09/2000. Potential Belly river
gas well.
Block Area: Bashaw
or Prospect
Well Name : 14-31-41-22
or Location W4M
Objective : A Development well testing Basal Belly River Gas
Current Status : * Spud: 24/09/2000
* Rig released 27/09/2000. Potential Belly River
gas well
Block Area: Mikwan
or Prospect
Well Name : 3-26-37-22
or Location W4M
Objective : A Exploration well testing Glauconite gas.
Current Status : * Spud: 23/09/2000
* Directionally drilling at 1250m
Block Area: Provost
or Prospect
Well Name : 5-9-40-3
or Location W4M
Objective : A Development well testing Glauconite oil.
Current Status : * Spud: 24/09/2000
* Directionally drilling at 800m
Block Area: Antelope Lk.
or Prospect
Well Name : 6-16-16-18
or Location W3M
Objective : A Exploration well testing Roseray oil.
Current Status : * Spud: 20/09/2000
* Rig released 27/09/2000 D & A
The Company advises that its Annual General Meeting will be held at 11:00 am on Tuesday 31 October, 2000 at the Company's offices at Level 3, 71 Queens Road, Melbourne.
Jubilee Mines NL announces that it has completed the calculation of an initial Mineral Resource for the Cosmos Deeps massive nickel sulphide deposit.
The Mineral Resource totals: 560,000 tonnes @ 8.2% nickel
containing a total of: 46,000 tonnes of nickel
The Company advises that at the General Meeting of the Company held Thursday, 28 September all resolutions were passed without amendment.
NEW ISSUE ANNOUNCEMENT
For company information, click here
Please be advised the annual meeting will be held as follows:
Monto Minerals NL
Level 1, 109 Upton Street
Bundall
28 November 2000
11.00am
Paladin announces it has reached agreement to acquire a 100% interest in the Western Australian telecommunications company Netcare Corporation Pty Ltd. This completes the diversification strategy embarked upon by the Directors and now places the Company in a prime position to maximize wealth creating advantages for its shareholders. With the general downturn in the resource sector and the essential need to establish a sound basis for future growth, the Board of Paladin adopted a strategy aimed at the acquisition of suitable assets from the high growth "new economy" sector whilst maintaining our focus on development of the Company's most advanced uranium project located in Kayelekera, Malawi.
SUSPENSION FROM OFFICIAL QUOTATION
The securities of Paladin Resources Limited will be suspended from Official Quotation forthwith, pending the release of an announcement to the market concerning a proposal to change the Company's activities.
Market participants are advised that following the release of the announcement, it is expected that the Company's securities will be reinstated to Official Quotation prior to the commencement of trading on Friday 29 September 2000.
Security Codes: PDN
PDNOA
PDNOB
Tribune Resources NL announces the discovery of a new zone of mineralistion at the East Kundana Joint Venture.
RAB drilling south of the recently announced Raleigh gold discovery has traced the main mineralised Strzelecki structure a further 2.0 km south and has outlined an 800 metre long by 50 metre wide zone of anomalous gold.
The geology is similar to Raleigh but with a thin, variable sedimentary sequence between the regional gabbro and the andesite units and a second small gabbro body within the andesite. Laminated vein quartz occurs in shear structures within the andesite close to the second gabbro contact. Gold distribution appears to suggest several sub-parallel veins and structures could be present.
Diamond drilling will commence immediately to characterise the geology, structure and veining, and to determine the significance of these results.
Victoria Petroleum NL advises that it has a 4.94% indirect interest in the successfully completed Turner 3-14 well in the Amber North East Gas Field, Oklahoma, USA, through its 18.5% shareholding in Kestrel Energy Inc, a US NASDAQ listed company (NASDAQ Small Cap-Kest).
Kestrel Energy, Inc issued a press release on September 27, 2000 reporting a flow of 1.1 million cubic feet of gas per day from the Turner 3-14 well.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 9,731,450
The Company advises that from Monday, 2 October 2000 our share registry will be changing their address. Up dated details are as follows:
Computershare Registry Services Pty Limited
Level 5, 115 Grenfell Street
Adelaide SA 5000
(PO Box 1903, Adelaide SA 5001)
Tel: 08 8236 2300
Fax: 08 8236 2305
National Australia Bank Limited Group ceased to be a substantial shareholder in Aurora Gold Limited on 22/09/2000.
Bullion Minerals Limited was admitted to the Official List of Australian Stock Exchange Limited on Wednesday 27 September 2000.
Official Quotation of the following securities will commence at 11am EDST (8am WST) on Tuesday 3 October 2000.
21,990,855 fully paid ordinary shares; and
21,990,855 options exercisable at 20 cents each on or before 30 June 2004
ASX Code: BLN
BLNO
The Company advises that it has formalised an agreement to capitalise an existing loan with Hardman Resources NL to the value of approximately $170,000.
The exact value of the loan will be calculated following adjustments for the current quarter.
The capitalised loan shall be satisfied by the issue of ordinary fully paid shares in the Company at a price equal to 90% of Carnegie's average share price over the last 20 days prior to obtaining the required shareholder approval from the Company's shareholders for the conversion.
By way of example, on the basis that the loan balance at the date of conversion is $170,000 and is converted at the Company's latest share price of 2.9 cents, a total of 6,071,429 shares would be issued to satisfy the conversion of the loan.
Shareholder approval must be obtained for the conversion not later than 31 December 2000.
Empire Oil & Gas NL, through its wholly-owned subsidiary Rough Range Oil Pty Ltd, provides the status of commissioning the Rough Range 1B Extended Production Test Facility.
On 25 and 26 September 2000 the Western Australian Department of Minerals and Energy's Safety Branch inspected the Facility. Rough Range Oil Pty Ltd has been informed that final approval can be granted by the Department of Minerals and Energy to commence production testing upon the Company and contracted Production Engineers, Expro Group Australia Pty Ltd installing some additions to the Rough Range 1B Test Facility to further comply with the Western Australian Petroleum Safety Act 1999 and the Schedule of General Requirement for Occupational Safety and Health 1993 and the relevant Australian Standards of construction, commissioning and the storage for flammable and combustible liquids.
Final inspection of the Rough Range 1B Test facility by the Western Australian Department of Minerals and Energy's Petroleum Safety Branch is planned for the following week.
Envestra Limited has announced a partial restructure of its senior management team with the appointment of Mr Ian Little as its new Chief Financial Officer. Mr Little, who will take up the role on 1 November, is currently Chief Financial Officer and Company Secretary for GPU GasNet in Melbourne. His former roles include Chief Financial Officer and Corporate Secretary of Transmission Pipelines Australia and Finance Manager - Pacific Division, Shell Company of Australia.
The new position has been created by splitting the role of Envestra's Chief Financial Officer and Company Secretary currently filled by Mr Peter Cain. Mr Cain will remain with Envestra as Company Secretary and will provide strategic input to the Company's Regulatory Affairs Group.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 2,695,000
NEW ISSUE ANNOUNCEMENT
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 8,898,337
Following the shareholders approval at the last AGM, and the fulfilment of the obligation by Sanfield Holdings Ltd by the payment of A$200,000 to the company, shares have been issued to Sanfield Holdings Ltd as follows:
CONSIDERATION : NO OF ORDINARY SHARES ISSUED
1. Cash $200,000 : 20,000,000
2. Conversion of loan of to equity USD$11,345,235 : 1,163,613,846
TOTAL NO OF SHARES : 1,183,613,846
Westgold Resources NL has made a demand against St Barbara Mines Limited through its solicitors alleging loss and damage in the sum of $7,581,767.70 because St Barbara allegedly did not report certain price sensitive information alleged to be contained in a management report to the then St Barbara's board on 23 April 1997. This alleged claim has not previously been raised or brought to the attention of the current board of St Barbara.
The loss and damage alleged by Westgold appears to be that sustained from a series of share transactions in St Barbara, effected by third parties but not involving St Barbara, between May and August 1997. Accordingly the allegations are denied and any claim for the above sum or any part of it will be robustly defended.
Robert & Tracey Hendrie became a substantial shareholder in Tuart Resources NL on 04/08/2000 with a relevant interest in the issued share capital of 2,697,414 ordinary shares (4.29%).
Edward Saunders became a substantial shareholder in Tuart Resources NL on 31/03/2000 with a relevant interest in the issued share capital of 2,334,909 ordinary shares (5.45%).
All Ords
3204.3
Dow Jones
10,628.36
ASX200
3256.3
+16.2
S&P 500
1426.57
-0.64
All Resources
1343.7
Nasdaq
3656.3
All Mining
684.4
Gold - spot/oz
US$278.5
All Gold
690.2
Silver - spot/oz
US$4.91
AGC Explorers
804.0
-5.0
Platinum - spot
US$566.0
+2.0
Energy
1567.6
Palladium - spot
US$710.0
All Industrials
5574.5
Bridge CRB Index
226.57
FTSE 100
6269.3
+56.1
Crude Oil (NYMEX)
US$31.46
-0.04
Nikkei
15,639.95
-288.67
Copper (spot $US/tonne)
US$1983
-4
Hang Seng
15,444.13
+153.28
Lead (spot $US/tonne)
US$510
+10
A$ = US55.14c
Zinc (spot $US/tonne)
US$1215
A$ = 59.17yen
Nickel (spot $US/tonne)
US$8955
A$ = 0.624uro
Aluminium (spot $US/t)
US$1595
US 30-Year Bond
5.899%
+0.047
Tin (spot $US/tonne)
US$5475
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Ashton Mining of Canada announces the discovery of a kimberlite body, named Perseus, on the Ric property in Nunavut and reports on other summer 2000 program activities under the Slave Regional joint venture.
RIC PROPERTY
On the Ric property, approximately 250 km northwest of the Ekati mine, the 2000 sampling program uncovered diamonds in till. A 25 kg till sample and a follow-up till sample of 100 kg collected at the same site produced a total of 14 microdiamonds, all of which are greater than 0.25 mm in size. A microdiamond is defined as being greater than 0.1 mm and less than 0.5 mm in all dimensions. Another till sample collected 550 m to the east contained a macrodiamond measuring 0.85 x 0.60 x 0.60 mm.
Follow-up prospecting work in the area identified abundant kimberlite float widely distributed over a strike length of 1.4 km. The float coincides with till samples exhibiting highly anomalous concentrations of indicator minerals, including mineral grains with adhering kimberlite. Four separate samples of float were tested by caustic fusion and all contained microdiamonds. The best results came from a 31 kg sample which returned nine microdiamonds.
The kimberlite float sample with the highest microdiamond count is located in a 300 m wide indicator mineral train that leads to a 400 m by 600 m lake. The lake is associated with a geophysical anomaly. Drilling commenced at this location in mid-September and resulted in the discovery of the Perseus kimberlite when the first hole, drilled to the south at a 45 degree angle, intersected 11.6 m of kimberlite at a depth of 45.7 m. Three subsequent holes drilled from the same location at different angles encountered similar intersections of kimberlite, suggesting the presence of a north-dipping kimberlite sill with an approximate true width of 10 m. One additional hole will be drilled into the Perseus kimberlite and at least one additional geophysical target will be tested before winter shut-down. Core will be processed for microdiamonds at AMCI's laboratory in North Vancouver.
AMCI is very encouraged by the discovery of diamonds and a new kimberlite body on the Ric property. A number of indicator mineral trains remain to be explained, and additional results are expected in early 2001 from the 386 till samples collected on the property during the summer 2000 program. Further geophysical surveys will be conducted upon receipt of these results to identify targets for drilling in spring 2001. Claims have recently been added to the Ric property increasing its size to approximately 51,100 hectares.
ROC, BEL, CON AND KIM PROPERTIES
Heavy mineral sampling programs were also completed on the other Slave Regional joint venture properties in Nunavut: Roc, Bel, Con and Kim. The 2000 program focused on encouraging concentrations of indicator minerals discovered on the Roc, Bel and Con properties in previous years, while a first round of heavy mineral samples was collected on the Kim property. Situated approximately 25 km north of the Ric property, the recently staked Kim property is 53,100 hectares in size.
GOCERLER-1 WELL, REPUBLIC OF TURKEY
PROGRESS REPORT - 27 SEPTEMBER, 2000
Well Location: 150 kilometres west of Istanbul.
Latitude 41 deg 21' 04"N,
Longitude 27 deg 46'E.
Basin: Onshore Thrace Basin.
Nearest Producing Field: Yulafli gasfield, 15 kilometres to southeast.
Depth at Midnight,
26 Sept rig time:
(0500 Hrs 27 Sept WST): 309mKB
Geology: 268-309m
Interbedded claystone, beige to dark grey-green coloured and conglomerate yellowish.
Pliocene age Ergene Formation.
Operations Last 24 Hrs: Wait on cement to set, install bradenhead and blowout preventors (BOPs). Mix mud, prepare to drill float collar.
Proposed Operations Drill out float collar, conduct formation integrity test, drill 311mm
Next 24 hrs: (12 1/4 inch) hole.
Last Casing: 340mm (13 3/8 inch) casing to 309m.
Target: Oligocene age Osmancik Sandstone Formation in four way dip closure, with direct hydrocarbon indications on seismic. Target size, 30 billion cubic feet of gas recoverable, if gas is present.
Target Depth: 1525m to TD
Proposed Total Depth: Between 1620 and 1900mKB.
The Board announces that the Company has retained the services of boutique technology consulting group, CyberResearch Pty Ltd.
CyberResearch is a well established and respected consulting house that specializes in providing competitive intelligence and strategic advice in such areas as market positioning, technology evaluation, development of appropriate sales and financial models for new technologies, identification of emerging trends in global markets, in depth market analysis and identification of partners and alliances in key markets.
NEW ISSUE ANNOUNCEMENT
The Company announces the recovery of a further 595 diamonds weighing 74.4 carats from 435 tonnes mined from the Monte Christo Mine at Bingara, NSW. The stones were recovered from the poorly sorted gravel about one metre thick on the south eastern side of the pit. Mining is now continuing to the southwest. The average grade recovered was 17 carats per hundred tonnes. 6.2 grams of gold were also recovered during processing.
Diamond bearing material from Monte Christo is trucked to the Company's jig based processing plant, which is located at Copeton and operates on a lower cut off screen size of 1.2mm. Diamonds are recovered from jig concentrates using a grease table.
At the Streak of Luck Tunnel, on the southern side of Mount Ross, at Copeton, the layer of diamondiferous tuffisite and boulders is dipping at about 15 degrees into a depression, and has thickened to three metres. Ninety tonnes of material previously mined from the tunnel, comprising about 15 tonnes of tuffisite and boulders mixed with 75 tonnes of barren granite bedrock was washed, yielding nine diamonds weighing 1.4 carats, with an inferred grade for the tuffisite and boulders of 9.3 carats per hundred tonnes of gem quality diamonds.
The directors of Energy Developments Limited (ENE) have decided to make a further offer to shareholders to subscribe for shares under the Company's Share Purchase Plan.
The Company has determined that the record date for determining entitlement to participate in the Share Purchase Plan will be Monday 9 October 2000. Shareholders appearing on the Company's share registry at 5.00pm on the record date will be eligible to take up their entitlement under the Plan.
Shareholders will be entitled to subscribe for up to a maximum of $3,000 worth of ordinary shares to be issued at a 5% discount to the market price of the Company's ordinary shares. For this purpose, the market price means the weighted average of the sale price per share sold in the ordinary course of trading on the Australian Stock Exchange on each of the last 5 business days up to and including the record date.
A rig is on location to complete and test the Cotton Valley formation in the Terry Ewing No 1 well. The Cotton Valley will be perforated on Sunday and produced naturally (without stimulation) while pressure build up tests are run over a two week period.
To prevent formation damage, it is planned to produce the well at less than full capacity while the productive properties of the Cotton Valley are evaluated. Construction of a flow line connecting with the Louisiana State Gas Pipeline is now complete enabling gas to be sold during the testing phase.
The Operator has presented initial plans for the drilling of 8 wells within the discovery. Further wells may be drilled during the project life that could exceed 15 years. The participants have contracted a second well, the Willamette No 2, a test of the Blue and Yellow Hosston Sands at a location approximately 2,000 feet to the north of the No 1 well. A rig is scheduled to arrive early November.
FAR has a 12.5 percent participation in the Clear Branch project reducing to a 9.375% working interest on completion of the test well. Other interests are held by North American companies including the operator, Rio Bravo Exploration & Production Company.
LAKE LONG FIELD, LAFOURCHE PARISH, SOUTH LOUISIANA
STATE LEASE 328 NO 6 WELL
A barge rig is due on location tomorrow to perforate and test the "14 Series" gas sands presently behind pipe in the No 6 wellbore. The procedure is expected to take between two and three days and, if successful, gas sales into the Columbia Gas Pipeline System should follow immediately.
It is estimated the 14 Series Sands (between 8,780 and 8,795 feet) will produce at an approximate rate of 1.5 million cubic feet of gas per day with associated condensate. Several other zones remain behind pipe.
FAR has a 30 percent working interest in the SL328 No.6 well with the remaining interest held by the Kriti et al.
NW SEGMENT PROSPECT (STATE LEASE 328 NO 7 WELL)
Barge rig contracts are presently being evaluated prior to the drilling of the SL 328 No 7 well at Lake Long. The No 7 well will test the NW Segment Prospect and is likely to spud during November.
The prospect will require the drilling of a deviated well to evaluate thirteen Miocene zones, eleven of which are productive in a major field fault block immediately south and adjacent to the NW Segment Fault Block. The southern block has produced 25 million barrels of oil equivalent.
Plans call for the test well to be drilled from a barge rig to a true vertical depth of 12,000 feet. The prospect is supported by a modern grid of 3D seismic tied to sub surface well control. Numerous bright spots are evident on seismic.
A well drilled in 1949 intersected 15 feet of gas bearing sands at the 5,500-foot Sand interval which were not produced at the time due to low gas prices. The field is supported by existing infrastructure connected to Columbia Gas Pipeline System.
The Registry of Henry Walker Eltin Group Limited (Computershare Registry Services Pty Limited) is relocating to a different floor in the same building. Effective from that date the address will be Level 5, 115 Grenfell Street, Adelaide SA 5000.
Its postal address and phone numbers remain unchanged:
GPO Box 1903
ADELAIDE SA 5001
Telephone: (08) 8236 2300
Facsimile: (08) 8236 2305
Mid-East Minerals and recently listed Internet infrastructure service provider VivaNET has jointly announced that Mid-East would take an option to acquire a shareholding of up to 53% in VivaNET.
This represents the first transaction since Mid-East announced its move into new economy investments with the appointment of Mr Wayne Bos as Director and Chief Executive Officer, and its proposed name change to Tomorrow Limited.
MIM has announced that Brian MacDonald would join the company as Executive General Manager with responsibility for its coal operations. Vince Gauci, Group Executive Operations, said that the appointment acknowledges the increased importance of the company's expanded coal operations.
For the issue of two rights for every five shares or five 2003 options held, the rights being to subscribe for new shares at NZ$0.39 each before 5 pm (local time in Sydney or New Zealand) on Friday 27 October 2000.
The new shares are being issued at a price of NZ$0.39 per share. The company will accept payment of A$0.30 per share as payment of the subscription price. This is based on the exchange rate that applied on 13 September 2000 and will apply notwithstanding any movement in the exchange rate between that date and the closing date.
Metcoal Holdings (Qld) Pty Ltd increased its relevant interest in QCT Resources Limited on 26/09/2000, from 1,703,542 ordinary shares (0.25%) to 1,728,770 ordinary shares (0.25%).
The Board of Ranger Minerals announces that the company has entered into an agreement with Coronation International Mining Corporation ("CIMC") which allows Ranger six months from 21 September, 2000, to conduct an extensive drilling programme at the Essakan gold deposit in Burkina Faso, West Africa. CIMC, a company listed on the Ofex exchange in London, announced on 22 May, 2000, that it had been awarded the Essakan Exploration Licences, covering all area of 1340 sqkm, by the Government of Burkina Faso which retains a 10% indirect interest in the Licences.
The programme will be mainly reserve circulation with some diamond drilling for a total of at least 15,000 metres, and has been designed to build on the database established by a limited drilling programme conducted in 1995 (7500 metres). This exploration outlined a linear zone of gold mineralisation extending 1.3 km along strike and to a depth of 80 metres, determined by most assessors to contain about 1 million ounces of gold with an average grade between 2 and 3 grams/tonne depending on the cut-off grade adopted. The mineralisation has not been closed off, and extensive dry blowing and shallow pitting for 6-7 km along the untested strike extensions suggests that a much larger resource may be present. Some of the better intersections from the 1995 programme were 40 metres (m) at 7.9 g/t, 49.0 m at 5.0 g/t, 34 m at 6.9 g/t and 39 m at 8.7 g/t.
Ranger Minerals Ltd advises that its Annual General Meeting will be held at the Duxton Hotel, 1 St Georges Terrace, Perth at 11 am on 29 November, 2000.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 10,181,450
Australian International Carbon Limited adviseS the results of the resolutions placed before Shareholders at an Extraordinary General Meeting of the Company held on 26 September 2000:
ORDINARY RESOLUTION 1 : APPROVAL OF OPTION PLACEMENT
ORDINARY RESOLUTION 2: APPROVAL OF SHARE ISSUE
ORDINARY RESOLUTION 3 : APPROVAL OF OPTION ISSUE
ORDINARY RESOLUTION 4 : APPROVAL OF DIRECTORS'OPTIONS
SPECIAL RESOLUTION 5: APPROVAL OF COMPANY'S NAME CHANGE
- to "Australian Technology Securities Ltd"
Natural Gas Corporation Holdings Limited (NGC), a 74% owned subsidiary of The Australian Gas Light Company, has announced that its takeover offer for the minority shareholders of TransAlta New Zealand Limited (TANZ) has become unconditional and that the Hutt Mana Energy Trust has completed acceptance of NGC's offer.
HIGHLIGHTS
INTERIM RESULTS FOR THE SIX MONTHS ENDED JUNE 30 2000
* Operating profit up 125% to GBP 1 million
* Coal royalty income increased by 168% to GBP 0.93 million
* Subsequent disposal of loss making silica sand business
SHARE PLACEMENT
Beaconsfield Gold NL has raised $1.435 million from the placement of 4.1 million fully paid ordinary shares at 35 cents each to four private investors.
The shares issued represent 5.9% of the total number of shares previously on issue. The funds have been raised to add to working capital during the current commissioning phase of the Beaconsfield gold mine. The final upgrade of the bacterial oxidation circuit of the ore treatment plant is now underway to facilitate commercial production levels and is planned to be completed in December 2000.
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The Company has changed its name from Black Range Minerals NL to Black Range Minerals Limited effective 15 September 2000.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 11,782,456
NEW ISSUE ANNOUNCEMENT
PROSPECTUS for a Renounceable rights issue of 5 new shares for every 1 share held at 5.6 cents per share to raise up to approximately $63 million
NEW ISSUE ANNOUNCEMENT
NEW ISSUE ANNOUNCEMENT
Notice is hereby given that the Eighth Annual General Meeting of shareholders of Metex Resources Limited will be held at First Floor, The Celtic Club, 48 Ord Street, West Perth, Western Australia on Wednesday 1st November 2000 5:15pm.
Portfolio Partners Limited ceased to be a substantial shareholder in MIM Holdings Limited on 22/09/2000.
The Company advises that the address of Minotaur Gold NL office at which a register of its securities is held will change to c/- Computershare Registry Services Pty Ltd, Level 5, 115 Grenfell Street, Adelaide SA 5000. The change will be effective from Monday, 2 October 2000. The postal address and phone numbers will remain the same.
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Notice is hereby given that an Extraordinary General Meeting of the members of Minotaur Gold NL will be held at 2nd Level Auditorium, Santos House, 91 King William Street, Adelaide on Tuesday, 31 October 2000 at 11:00 am (CST).
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NOTIFICATION OF SHARE CANCELLATION
Period of Cancellation from 08/09/2000 TO 26/09/2000
Number of Shares : 523,950
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Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 2,711,045
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Petroz N.L. advises that the Rhebok-1 well, located in offshore exploration permit WA-261-P in the Carnarvon Basin off Western Australia, was drilled to a depth of 1,082m T.D. and has been plugged and abandoned.
The well was drilled by Apache Northwest, the operator, and the main target horizon of the Stag Sandstone was poorly developed at the well location. No hydrocarbon shows were recorded.
Strata Mining Corporation NL increased its relevant interest in St Barbara Mines Limited on 10/08/2000, from 40,933,000 ordinary shares (19.51%) to 47,223,000 ordinary shares (22.51%).
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 2,929,278
All Ords
3191.2
Dow Jones
10,631.32
ASX200
3241.1
+25.8
S&P 500
1427.21
-11.82
All Resources
1345.9
Nasdaq
3689.10
All Mining
684.0
Gold - spot/oz
US$273.90
All Gold
699.1
Silver - spot/oz
US$4.88
AGC Explorers
809.0
no ch
Platinum - spot
US$564.0
-14.00
Energy
1571.9
Palladium - spot
US$713.0
All Industrials
5546.5
Bridge CRB Index
226.33
FTSE 100
6213.20
-43.90
Crude Oil (NYMEX)
US$31.50
-0.07
Nikkei
15,664.35
-264.27
Copper (spot $US/tonne)
US$1984
-4
Hang Seng
15,290.85
-138.10
Lead (spot $US/tonne)
US$515
+10
A$ = US54.94c
Zinc (spot $US/tonne)
US$1222
A$ = 59.16yen
Nickel (spot $US/tonne)
US$8800
A$ = 0.623Euro
Aluminium (spot $US/t)
US$1588
US 30-Year Bond
5.852%
-0.039
Tin (spot $US/tonne)
US$5520
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Anglo Pacific Group plc announces that the ordinary resolution proposed at the Extraordinary General Meeting of the Company held on Friday 22 September 2000 was duly passed and the Company has now completed the disposal of Fife Silica Sands Limited and Fife Resources Limited as described in the Circular to shareholders dated 4 September 2000.
Progress Report: Gocerler-1 Well Republic of Turkey
Well Location: 150 kilometres west of Istanbul. Latitude
41deg21'04"N, Longitude 27deg46'E.
Basin: Onshore Thrace Basin.
Nearest Producing Field: Yulafli gasfield, 15 kilometres to southeast.
Depth at Midnight,
25 Sept rig time:
(0500 Hrs 26 Sept WST): 309mKB.
Geology: 70-92m Claystone cream coloured and conglomerate. 92-94m Limestone white pyritic.
94-268m Interbedded claystone, beige to dark grey-green coloured and conglomerate yellowish.
All Pliocene age Ergene Formation.
Operations Since Spud: Drill 445mm (17 1/2 inch) hole to 309m, circulate hole clean, wiper trip, pull out of hole, run 340mm (13 3/8 inch) casing to 309m, cement casing to surface, wait on cement to set.
Proposed Operations Wait on cement to set, install bradenhead and
Next 24 hrs: blowout preventors (BOPs), test BOPs, drill 311mm (12 1/4 inch) hole.
Last Casing: 508mm (20 inch) conductor, 10m.
Target: Oligocene age Osmancik Sandstone Formation in four way dip closure, with direct hydrocarbon indications on seismic. Target size, 30 billion cubic feet of gas recoverable, if gas is present.
Target Depth: 1525m to TD.
Proposed Total Depth: Between 1620 and 1900mKB.
WA-9-L
CAVALIER-1
Woodside Petroleum Ltd, Operator of the WA-9-L Joint Venture, reports that the Cavalier-1 exploration well located in the Carnarvon Basin was spudded at 2345 hrs WST on 24 September 2000. At 0600 on 26 September 2000, the operation was drilling a 17 1/2 inch hole at 610 metres.
The Sedco 702 drill rig is drilling the well. The location is approximately 8 kilometres north-east of the Cossack Pioneer. Water depth at the location is 79 metres and planned total depth is 3700 metres.
All reported depths (except water depth) are referenced to the rig rotary table.
WA-271-P
ENFIELD-3
Woodside Petroleum Ltd reports that the Enfield-3 appraisal well located in the Exmouth Sub-basin has intersected a 49.3 metre gross column of oil bearing reservoir. Current operation at 0600 hours WST on 26 September 2000 was fishing for wire-line logging tools at a depth of 2421 metres.
Since the last report Enfield-3 was drilled to a total depth of 2521 metres and wire-line logs were run.
All reported depths are referenced to the rig rotary table.
The Company announces that it has purchased a 50% interest in a sapphire mine on the Anakie Sapphire Field, in Central Queensland. The acquisition aims to expand the range of Australian gemstones available to the Company for the manufacture of jewellery, and for sale of cut stone.
The terms of the acquisition were that Cluff settle the purchase of the mine for $300,000, and that Junior Mining (Operations) Pty Ltd reimburse Cluff $135,000 of the purchase price out of operating profits. On reimbursement the equity in the mine shall be 50% Cluff, 50% Junior Mining. The operation includes modern plant and equipment including an excavator, scraper, three front end loaders, two tractors, three trucks, a dry screening plant and jig based washing plant, and ancillary equipment, together with three mining leases and five mining lease applications.
The mine is currently in operation, and has produced 60,000 carats of uncut larger size blue sapphire, together with 20,000 carats of uncut larger size green, yellow and parti-colour sapphire, within the last two months. Additional quantities of fine sized stone and corundum are produced. The wash is clayey in nature, and cannot be treated in wet weather, but the climate is predominantly dry.
Centamin Egypt Ltd announces that the on-going resources up-grade (up to hole SDDH 148) at the Sukari gold project in Egypt has to date outlined Recoverable Resources estimated to contain around 1.2 million ounces of gold at a cut-off grade of 0.5 g/t.
Drilling is in progress to up-grade some of the resources at present categorised as Inferred to Indicated (and Measured), and some of the Indicated to Measured.
The present estimates include part of the 1998 estimates of 2.1 million ounces of gold at cut-off 0.5 g/t. Deeper drilling in the Amun zone is confidently expected to increase that figure significantly.
The gold is associated with multiple quartz veins, stockworks and breccias in alteration zones through micro-granitic, porphyritic, and other felsic rocks of the 'Sukari porphyry'. In the Amun zone the mineralised bodies dip generally about 40deg to grid east.
Hudson Resources Ltd increased its relevant interest in Waivcom Worldwide Limited on 25/09/2000, from 8,097,181 ordinary shares (13.5%) to 11,382,335 ordinary shares(18.2%).
Further to our announcements of 4 August, 2000 and 31 August, 2000, KBO announces that on 25th September 2000 it successfully conducted proof of process trials in respect of its KOS oil spill remediation technology.
In the final trial, conducted at the Caltex Kumell Refinery laboratories, Gippsland crude oil was converted to an inert plasticine-like mass that floated and could be easily recovered. The entire process took approximately one minute.
Kings Minerals NL announces that exploration on our Mountain Valley Exploration License, No 5690 in northern New South Wales has successfully recovered a second diamond weighing 0.065 carats. This result is regarded as highly significant as the recent stone recovered was from a location where diamonds have not been previously recorded.
As a consequence Kings Minerals has made application for a further exploration license (ELA No 1672) north of the Mountain Valley area called Glencairn. Kings combined tenement position in the region on granting of Glencairn will be 540 sqkm.
POTENTIAL HIGH-GRADE ORE SOURCE 100 KMS NORTH OF MT GARNET
Kagara Zinc Limited has added further weight to its fast-emerging North Queensland base metals strategy centred on the Mt Garnet Zinc Project after negotiating an exclusive option to acquire 100% interest in the nearby Muldiva Project, adding another advanced target and potential ore source to its regional portfolio.
The Muldiva Project, comprising three granted Exploration Licences covering an area of 330 square kilometres, is located 100 kilometres north of Mt Garnet and incorporates a number of historic high-grade mines and a very large untested geochemical anomaly covering several kilometres.
Copper anode production resumed on schedule overnight following a rebrick of the furnace and successful recommissioning of the Mount Isa copper smelter. Prior to their replacement, the life of the refractory bricks had been extended to a record two years.
The Notice of Extraordinary General Meeting of members of Minotaur Gold to be held on Tuesday, 31 October 2000 at 2nd Level Auditorium, Santos House, 91 King William Street, Adelaide commencing at 11:00 am.
The purpose of the meeting is to approve the sale of the Base Metal Assets, Joint Venture Interests and Web Wombat Shares to Minotaur Resources Limited, the subscription for shares in Minotaur Resources, subunderwriting of a proposed issue of Minotaur Resources Shares, the subsequent reduction of capital through the distribution of Minotaur Resources Shares received in consideration for the Base Metal Assets, Joint Venture Interests and Web Wombat Shares and the proposed listing of Minotaur Resources as a separate company.
The Company also seeks approval from its members of the acquisition by the Company of the remaining 80% interest in Colloqui Pty Limited ACN 089 222 944 ("Colloqui") held by the Vendors.
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The Directors of QCT Resources Limited have released details of their forecast for the financial year ending 30 June 2001.
Full year earnings for the year are forecast to show a substantial improvement on last year's performance with net profit after tax forecast to reach $79 million or 11.5 cents per share compared with a loss of $2 million (before abnormal items) last year. The forecast earnings incorporate anticipated hedging losses of $38 million after tax.
This forecast turnaround in profit supports Directors' statements that the current bid by MetCoal is opportunistic and undervalues the Company.
Metcoal Holdings (Qld) Pty Ltd increased its relevant interest in QCT Resources Limited on 25/09/2000, from 1,505,523 ordinary shares (0.22%) to 1,703,542 ordinary shares(0.25%).
The regional exploration program at the Meekatharra Gold Project has been stepped up with the recent completion of a 7,745 line kilometre detailed airborne geophysical survey, covering an area of 340sqkm at 50 metre line spacings and 20 metre sensor height. The survey has generated magnetic, radiometric and topographic data between Meekatharra and the Nannine region, which has identified a number of very interesting new targets for follow-up.
In addition, the ongoing extensional exploration program has realised a number of recent significant results around currently known reserves or resources:
* At Eden Hope, 1 km south of the Bluebird mill,a possible pit cut-back is likely after a number of high-grade intercepts were returned from a 24 hole program. These include:
WIDTH (M) : GRADE (G/T) : DEPTH (M)
8 : 6.14 : 6
13 : 7.06 : 11
10 : 5.23 : 34
3 : 12.86 : 0
3 : 12.74 : 11
6 : 5.24 : 34
5 : 5.68 : 45
Victoria Petroleum NL advises that the Rhebok-1 exploration well commenced drilling on Friday 22nd September, 2000, and has been drilled to a total depth of 1082m.
The objective M australis sandstone was poorly developed and no shows were observed. The well will be plugged and abandoned.
2000 ANNUAL REPORT
In a year that has seen a significant decline in exploration throughout the resource industry, particularly within the small company sector, the Company, through being well cashed up, has achieved a healthy exploration programme of some $2 million.
At Telfer, where Normandy Gold Pty Ltd is carrying the full cost of exploration to the end of this year, the
Company, through the payment of $300,000 to Carpentaria Gold Pty Ltd has secured 100% equity over all the tenements in the joint venture. Once Normandy has earned 51% through the expenditure of $5 million, it will then Leave the Company with 49%.
In addition, through the expenditure of a further $110,000, the Company has acquired some very prospective ground within the joint venture which was previously excised and it has also bought back the right to some of the potential royalties over further prospective ground in the joint venture.
Of the $2 million spent on exploration, roughly $1.4 million was spent in Western Australia, principally on the Tay and Mount Weld projects and $700,000 was spent on the Tsumkwe Diamond project in Namibia.
At the time of writing, both the Tay and Mount Weld projects have produced some interesting zones of anomalism for nickel and gold respectively. Both of these projects are going to require further follow up work to determine their direction from here.
At Tsumkwe in Namibia, the Company has had some very encouraging results from its diamond exploration joint venture with Kimberlite Resources Pty Ltd. In terms of our agreement, the Company can earn up to 75% of this project. After eighteen months of being involved with this project the Company is at a stage where at the time of releasing this report it will be drilling, or will be very close to drilling, potential kimberlite targets.
For full report, click here
Herald's Half Yearly Report to 30 June 2000 is now available - click here
NEW ISSUE ANNOUNCEMENT
The Company announces that Mr Jean-Francois Henin has resigned his position as Director with Anzoil NL, effective 22 September 2000.
Progress Report - Gocerler-1 Well - Republic of Turkey
Spud: 0230 hrs WST, 23 Sept, 2000, (2130 hrs Turkish time, 22 Sept).
Well Location: 150 kilometres west of Istanbul. Latitude 41deg21'04"N, Longitude 27deg46'E.
Basin: Onshore Thrace Basin.
Nearest Producing Field: Yulafli gasfield, 15 kilometres to southeast.
Depth at Midnight,
24 Sept rig time:
(0500 Hrs 25 Sept WST): 268mKB.
Geology: 16-44m limestone and gravel.
44-56m Claystone grey 20-40% gravel.
56-70m Claystone grey to cream coloured.
Operations Since Spud: Drill 445mm (17 1/2 inch) hole, trip to clean bit.
Proposed Operations Drill 445mm (17 1/2 inch) hole to 300m,
Next 24 hrs: condition hole and run 340mm (13 3/8 inch)
casing.
Last Casing: 508mm (20 inch) conductor, 10m.
Target: Oligocene age Osmancik Sandstone Formation in four way dip closure, with direct hydrocarbon indications on seismic. Target size, 30 billion cubic feet of gas recoverable, if gas is present.
Target Depth: 1525m to TD.
Proposed Total Depth: Between 1620 and 1900mKB.
Metcoal Holdings (Qld) Pty Ltd increased its relevant interest in QCT Resources Limited on 22/09/2000, from 1,299,609 fully paid ordinary shares (0.19%) to 1,505,523 fully paid ordinary shares (0.22%).
Number of QCT shares affected: 205,914
NEW ISSUE ANNOUNCEMENT
For company information, click here
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 12,013,262
The directors of Crest Magnesium have been advised by UTI/VAMI that the carnallite produced from the Crest Magnesium magnesite was successfully used to extract magnesium metal at the UTI/VAMI Laboratory. UTI/VAMI has further reported that the remaining carnallite samples following generation of magnesium metal are sufficient for completion of required test work which will lead to the development of a bankable feasibility study to the required level of accuracy.
NEW ISSUE ANNOUNCEMENT
NEW ISSUE ANNOUNCEMENT
NEW ISSUE ANNOUNCEMENT
* Kalrez Energy NL has acquired a 75% controlling interest in Petroasia Limited from Petroasia Group Limited.
* Petroasia owns a fully equipped Low Temperature Separation Process facility ("LTS") designed to separate Liquid Petroleum Gas ("LPG") from a gas stream.
* The purchase payable by Kalrez is well below replacement cost of the LTS Plant.
* Kalrez obtains the benefit of Petroasia's negotiations with parties in Indonesia to site the Plant on an appropriate liquid rich gas stream from which LPG can be extracted for sale to the domestic and export markets.
This is to advise that following the entering by Longreach Gold Oil Limited into a confidentiality agreement in respect of possible participation in several magnesite mineral deposits overseas, Longreach carried out the resources assessment of these deposits on the invitation of potential foreign joint venture partners.
This preliminary announcement is made to keep the market informed as during the due diligence study period there may be many external parties who become aware of these negotiations which, if they will lead to a consummated agreement, would be potentially market price sensitive.
The Annual General Meeting of Shareholders of the Company is to be held at the Brisbane Convention and Exhibition Centre, Corner Merivale and Glenelg Streets, South Bank, Brisbane on Tuesday 31 October 2000 at 10.00am.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 2,721,045
For company information, click here
FMR Corp increased its relevant interest in Murchison United NL on 21/09/2000, from 6,286,600 ordinary shares (8.03%) to 7,286,600 ordinary shares(9.21%).
Notice is hereby given that the Annual General Meeting of the Company will be held at the Melbourne Exhibition Centre, 2 Clarendon Street, Southbank 3006 on Thursday 26 October, 2000 at 2.30 pm.
The annual general meeting of Pasminco's shareholders is to be held at The Auditorium, Level 2, Melbourne Exhibition Centre, 2 Clarendon Street, Southbank, Victoria on 25 October 2000 commencing at 11.30am.
Petroz N.L. advises that the Rhebok-1 well, located in offshore exploration permit WA-261-P in the Carnarvon Basin off Western Australia, spudded at 1630 hours on 22 September 2000 (see attached map) and at 0600 hours Monday, 25th September was at 1,082m T.D. and was running a survey prior to final logs. No hydrocarbon shows have been recorded.
The well is being drilled by Apache Northwest, the operator, through the main target horizon of the Stag Sandstone which appears to be poorly developed at the well location. The Athol Formation and the Mungaroo Formation are secondary targets. The prospect is testing a very similar play to the Stag Oilfield lying 8km to the northeast. The nearest well Longhorn-1 lies 3km to the south and Antler-1, an oil and gas discovery, lies 5km to the north.
The well is programmed to take only 6 days to drill.
NEW ISSUE ANNOUNCEMENT
Operator, Apache Energy Ltd has advised Rhebok 1 in WA-261-P reached total depth of 1,082 metres (RT) early this morning, Monday 25 September 2000. No significant hydrocarbons were encountered in the primary Lower Cretaceous M Australis Sand pinch out trap, updip of the Stag Oil Field, or from older inferred pinchout sands in the Mid Jurassic Athol Formation and Triassic Mungaroo Formation that have significant hydrocarbons in the recently drilled Tusk, Chamois and Oryx wells. Potential reservoir was extremely poor in the primary and secondary objectives with the exception of sands encountered in the Mungaroo Formation.
Current operations are logging prior to plugging and abandonment in the next 24 hours.
QUEENSLAND GAS COMPANY TO COMMENCE 6 WELL CBM
PROGRAM IN EARLY NOVEMBER
The Directors of Queensland Gas Company Limited announce that plans for a drilling program, which is set to commence in early November, are well advanced.
NEW TECHNICAL TEAM APPOINTED
The Company also announces that it has strengthened its CBM technical group with the appointment of Trevor Marks as Operations Manager and Steve Scott as Senior Geologist.
For further information, click here
NEW ISSUE ANNOUNCEMENT
NEW ISSUE ANNOUNCEMENT
The Company advises that Computershare Registry Services Pty Limited have advised the following change of address details for maintenance of our share registry.
Effective Monday 2 October 2000
Level 5
115 Grenfell Street
ADELAIDE SA 5000
Postal address: GPO Box 1903
ADELAIDE SA5001
Telephone: (08) 8236 2300
Facsimile: (08) 8236 2305
New Issue
Plan "2" 50,000 shares at $1.88; 200,000 shares at $2.47; 55,000 shares at $2.48.
New Issue
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 10,431,450
Figures recently released by the Australian Bureau of Statistics show positive signs that mineral and petroleum exploration's downward slide is slowing down. Industry associates are; however, sceptical that the figures are not just an illusion caused by technical factors in the collection of data rather than a change in sentiment.
The June quarter reported spending of $146 million, down 9 per cent on the March period with factors including planned drilling rig deployments and maintenance requirements possibly affecting the figure's accuracy.
Western Australia is generating the most activity for petroleum exploration with 50 wells expected to spud this year, being one third more than last year, and gold exploration fell 21 per cent ($111 million) in the financial year to $415 million.
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| All Ords | 3167.3 |
|
|
Dow Jones | 10,808.15 |
|
| ASX200 | 3215.3 | +26.7 | S&P 500 | 1439.03 | -9.69 | |
| All Resources | 1357.3 |
|
Nasdaq | 3741.22 |
|
|
| All Mining | 682.4 |
|
Gold - spot/oz | US$273.6 |
|
|
| All Gold | 697.5 |
|
Silver - spot/oz | US$4.98 |
|
|
| AGC Explorers | 813.0 | na | Platinum - spot | US$578.0 | -4.00 | |
| Energy | 1578.7 |
|
Palladium - spot | US$711.0 |
|
|
| All Industrials | 5490.5 |
|
Bridge CRB Index | 226.08 |
|
|
| FTSE 100 | 6257.1 | +51.2 | Crude Oil (NYMEX) | US$31.57 | -1.11 | |
| Nikkei | 15,992.9 | +174.65 | Copper (spot $US/tonne) | US$1988 | -2 | |
| Hang Seng | 15,428.95 | +816.07 | Lead (spot $US/tonne) | US$505 | -4 | |
| A$ = US55.01c |
|
Zinc (spot $US/tonne) | US$1229 |
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||
| A$ = 59.25yen |
|
Nickel (spot $US/tonne) | US$8820 |
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| A$ = 0.629Euro |
|
Aluminium (spot $US/t) | US$1597 |
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| US 30-Year Bond |
5.891% | -0.013 | Tin (spot $US/tonne) | US$5510 |
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Live Quotes & Charts - Australia |
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24 Hour Spot Gold Price |
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LATEST RESULTS FROM DAIRI ZINC/LEAD PROJECT
Assay results from hole SOP32D are now available and confirm the greatest width of massive sulphide mineralisation encountered so far.
Results were as follows:
| Hole |
North |
East |
Dip/Azimuth |
From (m) |
To (m) |
Width (m) |
Zinc |
Lead |
Silver |
Description |
| SOP32D |
9700 |
5080 |
75/076 |
208 |
244 |
36 |
18.2% |
11.8% |
11g/t |
MMH |
MMH = Main mineralised horizon
For further information, click here
The Company has recently been made two major proposals. The first is the proposed share placement and underwritten rights issue that was agreed with Fletcher Challenge Energy Limited (subject to shareholder approval) to secure equity to progress development of the Bayu-Undan Liquids Project. As previously advised, the shareholder meeting to vote on this proposal has been adjourned until 5 October 2000.
The second proposal is an unsolicited merger proposal from Novus Petroleum Limited (Novus). Both proposals would impact significantly on the Company’s future direction and the value of shareholder investment.
Update on Novus Petroleum and Fletcher Challenge Energy Proposals
While the Petroz Board continues to regard the proposed placement to Fletcher Challenge Energy Ltd and underwritten rights issue as a necessary and cost effective strategy to facilitate the development of Bayu-Undan and increase shareholder value, the recent merger proposal from Novus Petroleum Ltd also requires close evaluation.
As a result, your Directors recommend that shareholders do nothing until the Board has had sufficient opportunity to evaluate and assess the value of a merger with Novus or any other new proposal which may arise as a result of the increased industry interest in Petroz.
The Company advises of the resignation of Mrs Linda Zeffert as Company Secretary and of the appointment of Mr Stuart Usher as Company Secretary, effective from 22 September 2000.
Natural Gas Corporation Holdings Limited (NGC), a 74% owned subsidiary of The Australian Gas Light Company, has announced that the Hutt Mana Energy Trust will accept NGC's offer to acquire its shareholding in TransAlta New Zealand Limited (TANZ) in exchange for NGC shares. Acquisition of these shares will take NGC's relevant interest in TANZ to above 90% and consequently NGC has also announced a full takeover offer for the other minority shareholders of TANZ.
CAPRICORN DIAMONDS INVESTMENTS PTY LIMITED gives notice under section 633(2)(b) of the Corporations Law that the date for determining the holders of securities to whom its bidder's statement information is to be sent is 27 September 2000.
BHP has announced that it had signed Letters of Intent with Tokyo Gas Co Ltd and Toho Gas Co Ltd of Japan for the sale and purchase of liquefied natural gas from the North West Shelf in Western Australia.
The agreements were signed by the six North West Shelf LNG Sellers and cover the supply of LNG for a period of 25 years starting in 2004, building to a volume of one million tonnes per annum (mtpa) by 2006. (BHP share 0.l7mtpa).
The parties will now move to finalise sale and purchase agreements by the end of 2000.
Mercantile Mutual Holdings Limited decreased its relevant interest in Capral Aluminium Limited on 14/09/2000, from 18,853,931 ordinary shares (9.17%) to 12,473,129 ordinary shares(6.08%).
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 12,113,262
NEW ISSUE ANNOUNCEMENT
NOTICE IS HEREBY GIVEN that a General Meeting of shareholders of Gallery Gold Limited will be held at the Company's office on the Ground Floor, 9 Havelock Street, West Perth, Western Australia on Monday 23 October 2000 at 9.00am.
RESOLUTION 1 - APPROVAL OF PLACEMENT OF SHARES
The Directors of Gallery Gold Limited announce that they have entered into an Agreement with J B Were & Son for the Placement of 30,000,000 new fully paid ordinary shares at an issue price of 10 cents per New Share to raise a total of $3 million.
The Placement will be supported by Lion Selection Group Limited for an amount of $1.0 million and African Lion Limited for an amount of $0.5 million with the balance of $1.5 million being placed with clients of J B Were & Son.
The purpose of this issue is primarily to provide continuing funding for the Company's ongoing exploration program on its Botswana Gold Project and secondly to provide for general working capital requirements of the Company.
Notice is hereby given that the Annual General Meeting of Goldfields Limited will be held at 2.30pm on Wednesday, 25 October 2000 in the James Cook Ballroom, Hotel Inter-Continental Sydney, 117 Macquarie Street, Sydney.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 21,583,407
Jubilee Mines NL announces that a former director of the Company, Kim Riley (in his capacity as Trustee of the KER Trust), has issued a writ against the Company for unspecified damages as a result of an alleged failure by the Company to comply with its disclosure obligations in 1994, in respect of information received from WMC.
The Company's legal advisers consider the case has little or no merit and the Company will defend the action.
NEW ISSUE ANNOUNCEMENT
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 2,755,045
For Company information, click here
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 8,900,137
Metcoal Holdings (Qld) Pty Ltd increased its relevant interest in QCT Resources Limited on 21/09/2000, from 1,151,360 ordinary shares (0.17%) to 1,299,609 ordinary shares (0.19%).
Strata Mining Corporation NL increased its relevant interest in St Barbara Mines Limited on 10/08/2000, from 40,933,000 ordinary shares (19.51%) to 47,223,000 ordinary shares (22.51%).
Strata Mining Corporation NL increased its relevant interest in St Barbara Mines Limited on 09/02/2000, from 27,600,000 ordinary shares (13.15%) to 40,933,000 ordinary shares(19.51%).
Strata Mining Corporation NL increased its relevant interest in St Barbara Mines Limited on 04/02/2000, from 20,000,000 ordinary shares (9.53%) to 27,600,000 ordinary shares (13.15%).
Strata Mining Corporation NL became a substantial shareholder in St Barbara Mines Limited on 25/01/2000 with a relevant interest in the issued share capital of 20,000,000 ordinary shares (9.53%).
Strata Mining Corporation NL became a substantial shareholder in Taipan Resources NL on 04/02/2000 with a relevant interest in the issued share capital of 20,000,000 ordinary shares (10.56%).
Troy Resources NL has announced a proposal to make a conditional takeover bid for Taipan Resources NL.
The Company's independent directors will keep shareholders informed regarding Troy's bid.
Troy proposes to offer 7.6 cents cash for each fully paid share and 0.65 cents cash for each partly paid share. It is a pre-condition of the bid that the merger proposal between Taipan and St Barbara Mines Ltd is not approved by Taipan shareholders or otherwise does not proceed.
In essence, the directors do not have sufficient information from Troy in relation to its proposed takeover bid to properly assess its merits. However, they have taken the following immediate action in response to Troy's announcement:
* To assist them in responding to Troy's bid, the directors have appointed lawyers and corporate advisors.
* The Company have written to Troy seeking details of its announcement and asking for a prompt response. This is of particular importance given that the general meeting to consider the merger proposal with St Barbara Mines Ltd was adjourned to Thursday, 12 October 2000 to permit certain shareholders to dispatch a letter to members setting out views on the merger.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 10,931,450
All Ords
3143.5
Dow Jones
10,847.37
ASX200
3188.6
-64.2
S&P 500
1448.72
-0.33
All Resources
1350.6
Nasdaq
3803.76
All Mining
669.8
Gold - spot/oz
US$271.40
All Gold
688.1
Silver - spot/oz
US$4.87
AGC Explorers
813.0
-10
Platinum - spot
US$582.0
-2.00
Energy
1586.7
Palladium - spot
US$733.0
All Industrials
5447.0
Bridge CRB Index
226.30
FTSE 100
6205.90
+6.70
Crude Oil (NYMEX)
US$33.5
-0.50
Nikkei
15,845.62
-465.43
Copper (spot $US/tonne)
US$1949
-8
Hang Seng
14,612.88
-551.57
Lead (spot $US/tonne)
US$503
+11
A$ = US54.39c
Zinc (spot $US/tonne)
US$1218
A$ = 58.78yen
Nickel (spot $US/tonne)
US$8640
A$ = 0.621Euro
Aluminium (spot $US/t)
US$1575
US 30-Year Bond
5.904%
-0.023
Tin (spot $US/tonne)
US$5500
Live Quotes & Charts - Australia
24 Hour Spot Gold Price
Notice is given that the Annual General Meeting of the Shareholders of Alliance Gold Limited will be held at the Celtic Club, 48 Ord Street, WEST PERTH, WESTERN AUSTRALIA on Monday 23 October 2000 at 10.00am.
New Issue
Lion Selection Group Limited became a substantial shareholder in Austminex NL on 05/09/2000 with a relevant interest in the issued share capital of 12,500,000 ordinary shares (16.9%).
Icon has acquired additional leases in the Bayou Choctaw area in Louisiana USA. These leases cover an area of 45 acres with recoverable reserves of oil estimated at 2.3 million barrels. This estimate is conservative, and most of the oil can be recovered from shallow depths of less than 5,000 feet (1500 metres). Early development of this oil is expected once operations commence. These reserves have been identified using the new high-tech 3-D seismic data. Icon’s working interest in these new leases is 80% and Bayou Choctaw Inc has the remaining 20%.
For further information, click here
Deutsche Australia Limited ceased to be a substantial shareholder in MIM Holdings Limited on 30/08/2000.
NEW ISSUE ANNOUNCEMENT
Pacific Energy Limited announces that with effect from 22 September 2000, Mr Ian Elvy has been appointed as Company Secretary.
Metcoal Holdings (Qld) Pty Ltd increased its relevant interest in QCT Resources Limited on 21/09/2000, from 1,151,360 ordinary shares (0.17%) to 1,299,609 ordinary shares (0.19%).
The Annual General Meeting of Rand Mining NL. will be held at Suite G1, 49 Melville Parade, South Perth on Thursday 30th November 2000 at 10.00 am WST.
1. ONSHORE UK:
1.1 SALTFLEETBY GAS PRODUCTION (ROC: 100%)
Due to operational constraints at the Theddlethorpe Gas Terminal (TGT), the Saltfleetby Gas Field has been operating at reduced production rate during September 2000. Average production rate from Saltfleetby to 20 September was 34 mmscf/d, compared to a scheduled rate of 40 mmscf/day. TGT has been progressively increasing its intake of gas over the past few days and intake is expected to be back to scheduled levels by the weekend.
1.2 SALTFLEETBY-5 (ROC: 100%)
Following completion of Saltfleetby-5 as a Namurian gas producer, the well will be hooked up to ROC's gas production facility with production expected to commence by early November.
1.3 KEDDINGTON-2 (ROC: 100%)
Keddington-2, which had been shut in due to high producing gas-oil ratio, has been on test for the past week through temporary test facilities and has flowed at a stabilised rate of 75 bbl/day oil and 0.60 mmscf/day gas. The high gas rate had not been anticipated from the well prior to drilling and one interpretation of the results could indicate the presence of a gas cap of unknown size associated with the Keddington structure. The well, which is only 6 km from the Saltfleetby Gas Field, will now be shut in while long term production options are evaluated.
2. UK NORTH SEA: THE KYLE NORTHEAST APPRAISAL WELL (ROC: 12.5%)
Production testing of the Kyle 29/2c-13 appraisal well (also known as the Kyle Northeast well) is expected to occur during the course of the next two weeks subject to weather conditions.
3. EAST GOBI BASIN, MONGOLIA: IRWES-1 (ROC: 100%)
Since the last Drilling Activity Update (15 September 2000), Irwes-1 has drilled to 1,154 metres in 8(1/2) inch hole. Minor gas shows have been reported below 910 metres. Prognosed total depth is 1,300 metres.
The Company advises that, pursuant to a court order dated 21 September, 2000, the several meetings of shareholders and optionholders due to be held Friday, 22 September, commencing at 10.00 am will be adjourned, to the same place and the same respective times on Friday, 13 October, 2000.
Australia's North West Shelf LNG Sellers and Tokyo Gas Co Ltd and Toho Gas Co Ltd of Japan Friday, signed Letters of Intent for the sale and purchase of one million tonnes of LNG a year from mid-2004.
At the signing in Perth Friday 22 September, senior executives of the North West Shelf Venture said the, letters provided the foundation for a major expansion of Australia's LNG industry, a little more than 10 years after the first Australian LNG cargoes were delivered to Japan in 1989.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 12,269,160
Reserve definition drilling at the Giles gold deposit has confirmed the existence of very high-grade gold mineralisation. This work has also extended the mineralised zone to over 500m long and the deposit remains open along strike and at depth.
Approximately half the results from a 10,000 metre reverse circulation and diamond program have been received.
The previous resource estimate of l00,000 ounces appears likely to be increased. Formal resource and reserve estimates will be completed as soon as all drill results have been received.
Results returned from this program so far include:
| GSRC | 36 | 8m @ 6.49 | g/t gold from 90m |
| GSRC | 45 | 4m @ 8.19 | g/t gold from 34m |
| GSRC | 46 | 5m @ 5.41 | g/t gold from 28m |
| GSRC | 46 | 5m @ 9.50 | g/t gold from 41m |
| GSRC | 46 | 11m @ 6.05 | g/t gold from 54m |
| GSRC | 51 | 13m @ 4.29 | g/t gold from 20m |
| GSRC | 51 | 15m @ 22.1 | g/t gold from 39m |
| GSRC | 56 | 24m @ 14.6 | g/t gold from 18m |
| GSRC | 60 | 17m @ 3.11 | g/t gold from 18m |
| GSRC | 61 | 11m @ 6.78 | g/t gold from 42m |
| GSRC | 61 | 27m @ 5.55 | g/t gold from 73m |
| GSRC | 64 | 20m @ 6.63 | g/t gold from 40m |
| GSRC | 76 | 9m @ 5.80 | g/t gold from 36m |
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 21,667,177
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 2,903,345
For Company information, click here
AMENDED DISCLOSURE DOCUMENT
The Company is offering all the holders of Existing Shares and 2003 Options in the Company as at 5pm (local time in Sydney or New Zealand) on the Record Date, in the ratio of two New Shares for every five Equity Securities held, the right, on a renounceable basis, to acquire fully paid ordinary shares in the Company. Each Right confers an entitlement to subscribe for one New Share. The Subscription Price of the New Shares is NZ$0.39 per share. The Company will accept payment of A$0.30 per share as payment of the Subscription Price. This is based on the exchange rate which applied on 13/09/2000 and will apply notwithstanding any movement in the exchange rate between that date and the Closing Date. The Rights must be exercised before 5pm (local time in Sydney or New Zealand) on the Closing Date or they will lapse. There is no minimum number of Shares required for the entitlement to Rights. The Company will round up entitlements to Rights that include a fraction to the next whole number.
The Company is issuing 31,621,600 Rights to acquire 31,621,600 New Shares under the Offer. The maximum entitlement of each holder of Equity Securities is recorded on the Entitlement & Acceptance Form enclosed with the Investment Statement and this short form Prospectus relating to this Offer.
The terms of issue of the 2001 Options do not entitle the holders of them to Rights, unless they exercise those 2001 Options before 5 pm (local time in Sydney or New Zealand) on the Record Date.
The Rights will be tradeable on the NZSE and the ASX during the Rights Trading Period.
The funds that Otter Gold raises by this Rights Issue will strengthen its capital base and assist in the provision of working capital for Group operations.
Bulong Operations Pty Ltd - Report for August 2000
August achieved marked improvements in technical and operational performance over previous months. As a result nickel production was a record 543 tonnes. The problems which had been experienced in the nickel electrowinning circuit during July were satisfactorily resolved, restoring the refinery capability to design levels.
Plant components demonstrated the ability to operate at target throughput levels and gypsum precipitation, which had negatively affected availability, throughput and recoveries in previous months, is being managed within the required operating parameters, thereby significantly reducing the detrimental impact of scaling.
Extraction of both nickel and cobalt in the autoclave improved towards the end of the month as a result of improved control of acid addition, an increase in the amount of free acid in the leach discharge and more stringent temperature control in the first compartment of the autoclave. We expect improved extractions continue into the future.
Operating costs in August were below plan and in particular significant gains have been made in reducing reagent consumption.
SANTOS LIMITED - SUMMARY OF DRILLING
WEEK ENDING 21/09/2000
QUEENSLAND
WELL: Rolleston 18
TYPE: Gas Appraisal/Development
LOCATION: PL 42, Denison Trough, Qld. 0.8km E of Rolleston 13, and some 140km N of Roma.
STATUS AT 21/09/2000 0600 HOURS: Drilling ahead. Depth and progress for the week is 340m. The well spudded on 18/9/00.
PLANNED TOTAL DEPTH: 1030m
OFFSHORE WESTERN AUSTRALIA
WELL: Cowie 5m
TYPE: Oil Development
LOCATION: TL 4, Offshore Barrow sub basin. 12km SSW from Thevenard Island.
STATUS AT 21/09/2000 0000 HOURS: Cementing 340mm casing at 1841m MD. Progress for the week is 1541m.
PLANNED TOTAL DEPTH: 2757m MD
1097m TVD
PAPUA NEW GUINEA
WELL: SE Gobe 8
TYPE: Oil Development
LOCATION: PDL 3, Southern Highlands, Papua New Guinea. Tangential well being drilled from SE Gobe 1 location.
STATUS AT 21/09/2000 0430 HOURS: Depth and progress for the week is 1021m. The well spudded on 14/9/00.
PLANNED TOTAL DEPTH: 3626m MD
2362m TVD
USA
WELL: Runnels #3
TYPE: Gas Exploration
LOCATION: Ashland Deep Prospect, Matagorda County, Texas.
STATUS AT 20/09/2000 0600 HOURS: Drilling ahead at 3239m with 121m progress for the week.
PLANNED TOTAL DEPTH: 4572m
SANTOS LIMITED - SUMMARY OF DRILLING
WEEK ENDING 21/09/2000
SOUTH AUSTRALIA
WELL: Milluna 2
TYPE: Gas Development
LOCATION: PPL 139, Nappacoongee Murteree Block, 800m NW of Milluna 1 and 40km SE of the Moomba Gas Plant
STATUS AT 21/09/2000 0600 HOURS: Milluna 2 spudded on 17/9/00. Depth and progress for the week is 1572m.
PLANNED TOTAL DEPTH: 2349m
WELL: Big Lake 65
TYPE: Gas Development
LOCATION: PPL 11, Moomba Block, 0.4km N of Big Lake 9, 0.3km S of Big Lake 36, and some 13km SE of the Moomba Gas Plant.
STATUS AT 21/09/2000 0600 HOURS: Drilling ahead at 1954m with 1322m progress for the week.
PLANNED TOTAL DEPTH: 3031m
WELL: Merrimelia 39
TYPE: Gas Development
LOCATION: PPL 17, Merrimelia Innamincka Block, O.5km NNW of Merrimelia 22, 0.7km E of Merrimelia 13 and some 40km NNW of the Moomba Gas Plant.
STATUS AT 21/09/2000
0600 HOURS: Merrimelia 39 has been cased and suspended as a future gas producer. The well reached a total depth of 2464m with 396m progress for the week. The rig was released on 21/09/00 and is moving to Merrimelia 40, a PPL 17 gas development well.
PLANNED TOTAL DEPTH: 2429m
WELL: Moomba 120DW
TYPE: Gas Development
LOCATION: PPL 7, Moomba Block, 0.4km SW of Moomba 7, 1.8km S of Moomba 75, and some 10km E of the Moomba Gas Plant.
STATUS AT 21/09/2000 0600 HOURS: Preparing to drill ahead after a bit change.
Current depth is 2177m with 775m progress for the week.
PLANNED TOTAL DEPTH: 3147m MD
2761m TVD
SANTOS LIMITED - SUMMARY OF DRILLING
WEEK ENDING 21/09/2000
QUEENSLAND
WELL: Warnie 1
TYPE: SWQ Unit Gas Exploration
LOCATION: ATP 259, Aquitaine A Block, 8.4km W of Warnie East 1, 12.9km N of Lamboa., and 72km SW of the Ballera Gas Centre.
STATUS AT 21/09/2000 0600 HOURS: Running 244mm surface casing. Depth and progress for the week is 916m. The well spudded on 18/09/00.
PLANNED TOTAL DEPTH: 2925m
WELL: Windigo 2
TYPE: SWQ Unit Gas Exploration
LOCATION: ATP 259, Naccowlah Block, 0.8km NW of Windigo 1, 4.7km E of Judga North 1, and some 30km E of the Ballera Gas Centre.
STATUS AT 21/09/2000 0600 HOURS: Windigo 2 has been plugged and abandoned. The rig was released on 18/9/00 and has moved to Warnie 1, a Southwest Queensland Unit gas exploration well.
PLANNED TOTAL DEPTH: 2612m
WELL: Kananda 1
TYPE: SWQ Unit Gas Exploration
LOCATION: ATP 259P, Innamincka Block, 4.1km SE of Durham Downs
3, 8.9km NE of Keilor 1, and some 30km N of the
Ballera Gas Centre.
STATUS AT 21/09/2000 0600 HOURS: Karanda 1 has been plugged and abandoned. The rig was released on 17/9/00 and is moving to Barrolka 4, a Southwest Queensland Unit gas development well.
PLANNED TOTAL DEPTH: 2816m
* Delhi elected not to participate
WELL: Wackett 11
TYPE: SWQ Unit Gas Appraisal/Development
LOCATION: ATP 259, Aquitaine A Block, 2km NNW of Wackett 3, 3.9km NW of Wackett 9 and some 20km ESE of the Ballera Gas Centre.
STATUS AT 21/09/2000 0600 HOURS: Drilling ahead at 477m with 477m progress for the week. The well spudded on 20/9/00.
PLANNED TOTAL DEPTH: 1965m
WELL: Rolleston 17
TYPE: Gas Appraisal/Development
LOCATION: PL 42, Denison Trough, QLD. 0.44km WSW of Rolleston 17, and some 140km N of Roma.
STATUS AT 21/09/2000 0600 HOURS: Completed as a gas well. The rig was released on 16/9/00.
PLANNED TOTAL DEPTH: 2083m
New Issue
Plan "O": 50,000 shares at $2.83; 200,000 shares at $3.70; 55,000 shares at $3.72.
Operator, Apache Energy Ltd has advised Rhebok 1 in WA-261-P should now commence drilling operations on Friday night, 22 September 2000. The Ron Tappmeyer rig is currently being towed from its present location at Tusk 1 in WA-209-P to the Rhebok site.
Rhebok 1 in WA-261-P is targeting a Lower Cretaceous M Australis Sand pinch out trap prospect up dip of the Stag Oilfield at approx. 694 to 720 metres (RT) depth. The Stag Oilfield to the northeast is currently producing at 33,000 barrels of oil per day from the same target reservoir, locally called the Stag Sand. The prospect has potential mean to P10 case reserves of 17 to 45 million barrels of oil recoverable assuming oil is present in the target sands.
The final depth of the well will be 1,084 metres (RT). The increased depth will allow testing of older inferred pinch out sands in the Mid Jurassic Athol Formation and the Triassic Mungaroo Formation. The deeper and older secondary target sands are of strong interest based on the results of the recently completed Tusk 1, Chamois 1 and Oryx 1 wells to the west and northwest respectively where traps containing sands of these ages have significant accumulations of Stag type oil.
The Company advises that the change of name, effective from 15th September, will be recognised on the ASX listing on Tuesday next, 26th September.
The new code for the company will be SLT.
United Energy has warned that the approximate $30 Million Cut to its revenue by the Office of the Regulator-General (ORG) will severely curtail the Company's ability to deliver high quality products and services into the future.
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| All Ords | 3204.9 |
|
|
Dow Jones | 10,765.52 |
|
| ASX200 | 3252.8 | -1.9 | S&P 500 | 1449.05 | -2.29 | |
| All Resources | 1389.5 |
|
Nasdaq | 3828.87 |
|
|
| All Mining | 685.9 |
|
Gold - spot/oz | US$269.7 |
|
|
| All Gold | 705.8 |
|
Silver - spot/oz | US$4.83 |
|
|
| AGC Explorers | 823.0 | -0.02 | Platinum - spot | US$584.0 | -4.0 | |
| Energy | 1608.3 |
|
Palladium - spot | US$722.0 |
|
|
| All Industrials | 5545.1 |
|
Bridge CRB Index | 226.73 |
|
|
| FTSE 100 | 6199.2 | -80.7 | Crude Oil (NYMEX) | US$34.0 | -1.24 | |
| Nikkei | 16,311.05 | -147.26 | Copper (spot $US/tonne) | US$1957 | -4 | |
| Hang Seng | 15,164.45 | -501.17 | Lead (spot $US/tonne) | US$492 | +10 | |
| A$ = US54.36c |
|
Zinc (spot $US/tonne) | US$1200 |
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||
| A$ = 57.95yen |
|
Nickel (spot $US/tonne) | US$8455 |
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||
| A$ = 0.631Euro |
|
Aluminium (spot $US/t) | US$1611 |
|
||
| US 30-Year Bond |
5.927% | -0.035 | Tin (spot $US/tonne) | US$5450 |
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Live Quotes & Charts - Australia |
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24 Hour Spot Gold Price |
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Ausmelt Limited (AET) announces the signing of two significant new contracts with Anglo American Platinum Corporation (Amplats).
The Australian-based company has secured its biggest ever licensing fee for the licensing of its patented top submerged lance smelting technology to Amplats for use in the converting of a nickel matte containing Platinum Group Metals.
Ausmelt has also signed a contract with Amplats for the design and supply of the lance handling system for the new Ausmelt plant to be located at Rustenburg in South Africa.
The Office of the Regulator-General has released its Determination on the 2001 Electricity Distribution Price Review.
Our preliminary review of the document suggests that the Regulator General's Determination is in essence unchanged from the Draft Determination released previously.
New Issue
BHP and Mitsubishi have agreed to extend the offer period of their cash bid for QCT Resources Limited (QCT). The Offer is made by MetCoal, a company owned equally by BHP and Mitsubishi.
BHP and Mitsubishi have made the extension in cooperation with a request from QCT so as to allow QCT a further five days to lodge and send its Target's Statement. The formal Notice of Extension of Offers is on the back of this letter.
The Offer is now scheduled to close at 7.00pm (Melbourne time) on Wednesday, 18 October 2000.
On 28 August 2000, BHP and Mitsubishi announced a cash offer of A$1.20 per share for all of the ordinary shares in QCT, valuing QCT's equity at approximately A$830 million.
Bligh Oil & Minerals NL advises that open hole logging of the Rimu B-1 well has now been completed. Casing will now be run, and production testing initiated.
The logging of the well has confirmed the presence of 25 metres of gross reservoir section in the Lower Tariki thrust plate, in the interval 4031 metres to 4056 metres. Within this gross section, approximately 17 metres is considered to be net pay, with average porosities of 17%, in a range of 12% to 30%. The porosity development is considered to be exceptional. Log calculations indicate the zone to be hydrocarbon saturated, with the presence of oil with a high gas-oil ratio being suggested by the log data, subject to confirmation by production testing. Several additional zones appear to be of interest, based upon drilling and log data, and certain of these may be tested, in addition to the Lower Tariki.
Consolidated Rutile Limited has established a successful management program to control groundwater seepage from one of the Company's North Stradbroke Island mining operations.
Fresh water from mine site tailings increased the level of Ibis Lagoon, before water recycling and production changes stopped the seepage in August.
Fletcher Challenge
Drilling & Production Testing Report
For the week ending 20/09/2000
Country : New Zealand
Block Area: PML381012
or Prospect
Well Name : MB-6
or Location
Objective : Deviated development well primarily targating Maui B D1.6 (3028m true vertical depth subsea (TVDSS)) and D1.10 (3073m TVDSS) oil reservoirs
Planned TD is 3681m (3132m TVDSS)
Current Status : * Set whipstock in 9(5/8)" casing at 2565m and milled window
* Drilled 8(1/2)" sidetrack to 2937m building angle to planned 54 degree inclination
* Current operation at 06:00 on September 21st, drilling ahead in C-Sands at 3016m
Fletcher Challenge
Drilling & Production Testing Report
For the week ending 20/09/2000
Country : Canada
Block Area: Bashaw
or Prospect
Well Name : 7-5-42-22 W4M
or Location
Objective : A Development well testing Basal Belly River Gas.
Current Status : * Spud: 13/09/2000.
* Cased for BBR gas.
* Rig Released: 16/09/2000.
Block Area: Michichi
or Prospect
Well Name : 4-27-29-17 W4M
or Location
Objective : A Development well testing Basal Belly River Gas.
Current Status : * Spud: 12/09/2000.
* Ran abandonment plugs.
* Rig Released: 15/09/2000.
Block Area: Dinosaur
or Prospect
Well Name : 10-3-30-19 W4M
or Location
Objective : An Exploration well testing Nisku Oil.
Current Status : * Spud: 12/09/2000.
* Drilling ahead.
Block Area: Bashaw
or Prospect
Well Name : 12-1-42-23 W4M
or Location
Objective : A Development well testing Basal Belly River Gas.
Current Status : * Spud: 17/09/2000.
* Run logs.
Block Area: Fenn Big Valley
or Prospect
Well Name : 6-29-35-19 W4M
or Location
Objective : A Development well testing Basal Belly River Gas.
Current Status : * Spud: 15/09/2000.
* Cased for BBR gas.
* Rig Released: 17/09/2000.
Notice is hereby given that an Annual General Meeting of the shareholders of Hallmark Consolidated Limited will be held at Royal Kings Park Tennis Club, Kings Park Road, West Perth, Western Australia on Thursday, 26 October 2000 at 10.00 am.
The company has appointed Ian Veitch as Financial Controller of the Julia Group. Mr Veitch is CA qualified with a Bachelor of Business and has extensive experience. He will commence in the Perth office on 6th October.
Rolleston No 18 a gas development well situated approximately 800 metres east of Rolleston No 13, latitude 24 deg 32 min 30.35 sec south, longitude 148 deg 37 min 40.36 sec east, was spudded at 19:00 hours on September 18, 2000. At 06:00 hours today the rig was at a depth of 340 metres RT and drilling ahead. 245mm surface casing was set at 160.2 metres RT progress for the week was 340 metres.
The primary targets of the well are the sands of the Freitag formation and of the upper Aldebaran sandstone with the Mantuan formation being a secondary target. The proposed total depth of the well is 1030 metres RT.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 8,903,370
Notice is hereby given that an EXTRAORDINARY GENERAL MEETING of shareholders of Pan Australian Resources N L will be held at the Brisbane Polo Club, Naldham House, Waterfront Place, 1 Eagle Street, Brisbane on 6 October 2000 at 10.00 am.
That the issue of 21.2 million ordinary shares at an issue price of 6 cents per share and 10.6 million unlisted options exercisable at 8.1 cents (expiry date 11 October 2002) to Resource Capital Fund II LP be approved under Listing Rule 7.1 of the Australian Stock Exchange Listing Rules.
For further information, click here
CHANGE TO OFFICEHOLDERS
NEW APPOINTMENT
NAME Joseph Andrew CARTER
POSITION Secretary
DATE OF APPOINTMENT 22/09/2000
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The Company announces that the 1:2 non-renounceable rights issue closed on September 12, 2000.
Subscriptions received totaled 25,688,904 shares raising $1,284,445.20.
The shortfall of 9,133,099 shares is in the process of being placed through the Underwriters of the issue Intersuisse Ltd.
Metcoal Holdings (Qld) Pty Ltd increased its relevant interest in QCT Resources Limited on 20/09/2000, from 858,287 ordinary shares (0.12%) to 1,151,360 ordinary shares (0.17%).
Evan Rubenstein became a substantial shareholder in Strike Mining NL on 28/07/2000 with a relevant interest in the issued share capital of 2,842,897 ordinary shares (5.086%).
Shuari Investments became a substantial shareholder in Strike Mining NL on 28/07/2000 with a relevant interest in the issued share capital of 2,842,897 ordinary shares (5.086%).
Further to announcement of 19 September of a proposed cash offer for all of the issued fully paid ordinary shares in Taipan Resources NL, Troy Resources NL proposes to make a cash offer to the holders of properly issued partly paid Taipan shares (paid to 1.5 cents with 18.5 cents remaining to be paid) of 0.65 cents per share.
The Company advises that the meeting of shareholders to be held Thursday, 21 September was adjourned to 10am, Thursday, 12 October 2000.
On Wednesday, the Company was served with an application to adjourn the meeting of shareholders scheduled for 10am, 21 September 2000. That application was made by 3 shareholders holding 1,904,000 fully paid shares and 6,061,000 partly paid shares. The application was heard Thursday, 21 September by the Supreme Court of Western Australia and although no specific orders were made, orders to adjourn the meeting will be made tomorrow prior to the scheduled time of the meeting. The ground for the adjournment, being procedural only, was that the Company did not provide a copy of the share register to those shareholders within the prescribed 7 day period. Those shareholders have stated they intend to issue a letter to all Taipan shareholders prior to the adjourned meeting.
The company remains fully supportive of the merger proposal as that proposal underwrites the future of the Company.
Union Capital Limited (Union) announces that it has entered into a shareholders agreement with various other parties to form a consortium to purchase a 40% interest in Eastern Telecommunications of the Philippines (ETPI). Union will hold a 40.4% interest in the consortium, which will come together in a corporate structure as Australian Gigahertz Networks International Pty Limited (AGNI). The consortium also includes other high net worth private investors.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 11,234,950
Capricorn Diamonds Investments Pty Ltd changed its relevant interest in Ashton Mining Limited on 25/08/2000, from 64,130,520 ordinary shares (19.9%) to 64,277,891 ordinary shares(19.9%).
A copy of Iluka Resources Limited's bidder's statement and offer document relating to Iluka's off-market takeover bid for BeMaX Resources NL.
A copy of the bidder's statement and offer document has now been lodged with the Australian Securities and Investments Commission and sent to BeMaX and the date set by Iluka for determining persons holding securities in the bid class and convertible into securities in the bid class to whom the bidder's statement and offer document will be sent is 29 September 2000 at 9am Brisbane local time.
It is anticipated that the bidder's statement and offer document will be dispatched to the Offerees in early October 2000.
For further information, click here
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 12,519,160
The Board of Dioro Exploration provides the following update on activities at its 49% owned Mungari Joint Venture Project near Kalgoorlie, Western Australia.
MAIN POINTS
* The recently completed and highly successful 8,031 metre drilling program carried out at the Frog's Leg prospect comprised the following.
Reverse Circulation ("RC"): 4,594m
Diamond core (land): 1,288m
Diamond core (lake margin): 1,478m
Diamond core (lake): 671.3m
Aircore (lake margin): 494m
* Two styles of gold mineralisation (viz "quartz lode" and "contact zone" mineralisation) are recognised in different parts of the prospect. (Note: the contact zone mineralisation is similar in style to the Hornet-Rubicon-Pegasus mineralisation along the ABC mineralised zone outside of the Mungari Joint Venture tenements immediately to the north of Frog's Leg prospect);
* The total strike length of the Frog's Leg mineralisation has been extended by almost 50% to 1,100 metres (1.1km), increasing the potential for the discovery of additional resources;
* The mineralised trend remains "open" along strike to the north and South of existing drilling, and at depth below current drilling levels;
* A geological and structural review is underway ahead of a re-estimation of resources that will include all the latest drilling at the Frog's Leg prospect;
* A further phase of combined RC and diamond core drilling totalling 2,750 metres will be carried out to test a number of targets.
SUMMARY
* Exploration drilling continuing at Mount Margaret where targets include Falcon gravity gradiometer anomalies;
* The Strathfield prospect, drilled in 1999, has a mineral resource of 490,000 tonnes grading 1.3% copper and 0.2g/t gold using a 0.7% copper cut-off grade, and
* Exco recently granted tenements near the Eloise copper-gold mine.
Update on Louisiana Drilling Activity
CLEAR BRANCH FIELD, JACKSON PARISH, NORTH LOUISIANA.
TERRY EWING NO 1 WELL
A completion rig moves on location tomorrow to commence production testing of the Cotton Valley formation in the Terry Ewing No 1 well. The Cotton Valley will be perforated "underbalanced" through tubing. Initially the well will be produced naturally (without stimulation) while pressure build up tests are run. To prevent formation damage, it is planned to produce the well at less than full capacity while the productive properties of the Cotton Valley are evaluated.
A flow line and surface production equipment are currently being constructed and should be in place to enable gas sales by 30 September. The nearest gas sales line is 200 feet from the wellbore and connects with the Louisiana State Gas Pipeline. A Gas Transportation Agreement has been signed with Louisiana State Gas, LLC. October gas on Nymex is currently US$5.34 per thousand Cubic feet.
WILLAMETTE NO 2 WELL
The Operator has presented initial plans for the drilling of 8 wells within the discovery. Further wells may be drilled during the project life that could exceed 15 years. The participants have contracted a second well, the Willamette No 2, a test of the Blue and Yellow Hosston Sands at a revised location approximately 2,000 feet to the north of the No 1 well. A rig is scheduled to arrive during the first week of November.
LAKE LONG FIELD, LAFOURCHE PARISH, SOUTH LOUISIANA
STATE LEASE 328 NO 6 WELL
Due to surging natural gas prices the participants have opted to produce from the "14 Series" gas sands presently behind pipe in lieu of earlier plans to add the "C" oil Sand to the production stream in the No 6 wellbore. This procedure will be performed by a wirefire barge during the next two weeks. It is estimated the 14 Series Sands (between 8,780 and 8,795 feet) will produce at an approximate rate of 1.5 million cubic feet of gas per day with associated condensate. Several other zones remain behind pipe and will be produced prior to returning to the "F" Sand that has been producing oil since mid 1977. The SL 328 No 6 well is connected to the Columbia Gas Pipeline System enabling immediate sales.
STATE LEASE 328 NO 7 WELL (NW SEGMENT PROSPECT)
The SL 328 No 7 well at Lake Long has been approved by the participants with timing now dependent upon barge rig availability. The SL 328 No 7 well will test the NW Segment Prospect at Lake Long and is likely to spud during November.
The prospect will require the drilling of a deviated well to evaluate thirteen Miocene zones, eleven of which are productive in a major field fault block immediately south and adjacent to the NW Segment Fault Block. The southern block has produced 25 million barrels of oil equivalent.
Plans call for the test well to be drilled from a barge rig to a true vertical depth of 12,000 feet. The prospect is supported by a modern grid of 3D seismic tied to sub surface well control. Numerous bright spots are evident on seismic.
A well drilled in 1949 intersected 15 feet of gas bearing sands at the 5,500-foot Sand interval which were not produced at the time due to low gas prices. The field is supported by existing infrastructure, connected to Columbia Gas Pipeline System.
Federation advises that its subsidiary Vanteck (VRB) Technology Corp has concluded a supply agreement with Sumitomo Electric Industries of Japan for cell stacks required for its first commercial large scale Vanadium Redox Battery.
AMP Limited became a substantial shareholder in Goldfields Limited on 18/09/2000 with a relevant interest in the issued share capital of 9,486,140 ordinary shares (5.02%).
The Company is making a placement of up to 20,000,000 Shares each at $0.05 to raise up to $1,000,000 before costs of the Issue.
This Prospectus is required to invite subscriptions for 20,000,000 New Shares in relation to the placement. 10,000,000 of the New Shares being offered pursuant to this Prospectus were approved at the Company's Annual General Meeting held on 14 September 2000. The remaining 10,000,000 New Shares being offered pursuant to this Prospectus may be issued without the need for member approval as this tranche of the New Shares is within the 15% annual limit permitted under Listing Rule 7.1.
In June and July 2000 the Company acquired 7,500,300 shares in Vincorp Wineries Limited at a cost of $828,736. The holding represents an interest in Vincorp Wineries Limited of approximately 12.4%, making the Company the largest shareholder.
On 19 September 2000 the Company entered into a heads of agreement with Mediko Limited which provides the Company with the right to acquire a 28.4% interest in Mediko Limited for $400,000.
Mr David Hughes has been appointed Company Secretary for the Company, effective 20 September 2000.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 22,116,868
Indian Mining Corporation NL advises that its 38% owned associate, IP Services Inc of Colorado, US, has received regulatory approval to assume control of Elite Telephone Company Inc, a competitive local exchange carrier ("CLEC") authorised to operate in the US state of Colorado.
Marlborough Resources NL announces the following progress on the Ardlethan Tin Project.
1. It has now formally signed all financing documentation with the Commonwealth Bank of Australia. This $5.65 million financing facility should cover more than 100% of the remaining costs for mining equipment, treatment plant, bonds, infrastructure, commissioning and contingency for the Ardlethan Tin Project.
2. The Company has taken advantage of the current exchange rate (which is so favourable to exporters) to sell forward about 70% of its estimated revenue in US Dollars over the first four years of operations. Over this period, US$9.6 million has been sold forward, starting on 1 December 2001. This decision was taken with the support of the Commonwealth Bank and it covers more than 100% of the estimated cash operating costs for the Ardlethan project plus 150% of estimated interest costs and capital repayments over that period.
3. Current tin price in Australian dollars is about A$10,100 per tonne, compared with estimated Ardlethan cash operating costs of about A$3,000 per tonne plus smelting and transport costs of about A$1,500 per tonne.
4. Discussions have been held with several major groups about also forward selling its estimated physical tin production, while tin price in Australian Dollar terms is at a 10 year high (as shown on the attached graph). The current price is well above the price of A$8,650 per tonne used in the Feasibility Study.
5. With these higher prices, the Company has recently estimated that it should generate about $11,000,000 of surplus cash from operations over its first three years of production (before interest and tax). In particular about $4 million of surplus cash should be generated in its first full year of production, compared with an estimated capital cost of about $4.2 million.
6. Work on recommissioning the water pipeline to the mine site, obtaining all Government and environmental approvals for the project and finalising process design is proceeding according to schedule.
In conclusion, the Ardlethan Tin project is progressing well and record movements in Australian Dollar tin price and exchange rate should be of major benefit to the project.
Nido Petroleum Limited announces its withdrawal from block GSEC-95, SW Palawan Basin, in the Philippines.
Nido entered into the block in March 1998, holding 100% of the interest and under the terms of the contract, purchased, acquired, processed and interpreted 2,500 line km of seismic data. The work resulted in a number of small to medium sized leads and prospects, which are likely to be gas prone. Due to the lack of production infrastructure in the area, Nido Petroleum has elected to withdraw from the block to avoid further expenditure given the long lead-time for any new discoveries.
The withdrawal will allow Nido to concentrate on its core acreage in the NW Palawan Basin, adjacent to Shell/Texaco/PNOC-EC's Malampaya development.
Notice is hereby given that the Forty-Fifth Annual General Meeting of Normandy Mining Limited will be held at Enterprise House, 136 Greenhill Road, Unley, South Australia on Thursday 26 October 2000 at 11.00 am.
The board of Platgold Pacific Limited announces that its 100 percent owned subsidiary, Startrack Communications Limited, has released its Environmental Management (EM) solution to the market.
The EM solution which operates on Startrack's ROAMS Response Centre allows for the collection, processing and dissemination of environmental and fluid management information from various remote sources. This information can be accessed by the customer in their preferred format via a standard web browser. There is no requirement for any proprietary systems or software to be located on the customer's site.
MetCoal Holdings (Qld) Pty Ltd increased its relevant interest in QCT Resources Limited on 19/09/2000, from 314,522 ordinary shares (0.05%) to 858,287 ordinary shares (0.12%).
Rio Tinto has been advised by the Australian Competition & Consumer Commission that it does not propose to intervene in its proposed acquisition of Ashton Mining Limited pursuant to Section 50 of the Trade Practices Act.
The Capital Group Companies Inc ceased to be a substantial shareholder in Santos Limited on 18/09/2000.
The Company's-Name and Status were changed on 15th September 2000.
The new name is "SELECT-TEL LIMITED"
The current 15% share ownership limit on Santos will be reviewed by 30 November 2000, Minerals and Energy Minister, Wayne Matthew, announced Wednesday 21 September.
Victoria Petroleum NL advises that Apache Energy Ltd, Operator of WA-261-P, has advised that the Rhebok-1 exploration well is expected to commence drilling on or about Friday 22nd September, 2000. The jackup drilling rig Ensco-56 is currently on location at Tusk-1 in WA-246-P, and the rig will be released to Rhebok-1 on completion of Tusk-1.
The Rhebok Prospect is located approximately 4km to the south of the nearby Stag Oil Field, and will be targeting the updip pinchout of the M Australis sand, that is the oil reservoir in the Stag Oil Field. The Stag Oil Field, currently producing at 25,000 BOPD, has estimated recoverable reserves of 45 MMBO.
The Rhebok Prospect has been interpreted from seismic data to have potential reserves of up to 45 MMBO, if oil is present.
The proposed Total Depth of the well of 1,082 metres will also allow penetration of the underlying Jurassic Athol Formation (containing oil in the recent Chamois-1 well) and Triassic Mungaroo Formation. These formations are not objectives but will provide useful information for further prospect generation.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 12,134,950
All Ords
3206.5
Dow Jones
10,687.92
ASX200
3254.7
+18.0
S&P 500
1451.34
-8.56
All Resources
1401.4
Nasdaq
3897.44
All Mining
694.1
Gold - spot/oz
US$268.4
All Gold
709.2
Silver - spot/oz
US$4.79
AGC Explorers
825.0
+0.08
Platinum - spot
US$588.0
-2.0
Energy
1596.2
Palladium - spot
US$712.0
All Industrials
5540.4
Bridge CRB Index
226.98
FTSE 100
6279.9
-123.6
Crude Oil (NYMEX)
US$35.24
+0.23
Nikkei
16,458.31
+334.12
Copper (spot $US/tonne)
US$1984
n/a
Hang Seng
15,665.62
-11.58
Lead (spot $US/tonne)
US$486
n/a
A$ = US53.75c
Zinc (spot $US/tonne)
US$1224
A$ = 57.26yen
Nickel (spot $US/tonne)
US$8580
A$ = 0.633Euro
Aluminium (spot $US/t)
US$1603
US 30-Year Bond
5.962%
+0.048
Tin (spot $US/tonne)
US$5525
Live Quotes & Charts - Australia
24 Hour Spot Gold Price
The Company's Swedish subsidiary, Alcaston Diamond Exploration AB, has advised that the initial analysis of its previous northern summer orientation program samples is near completion.
The Swedish subsidiary is currently conducting an extensive reconnaissance sampling program, which will include additional sampling up stream from this positive sample result in order to more accurately define a target area for more detailed evaluation.
De Beers Australia Holdings Pty Ltd ACN 092 696 001 GIVES NOTICE under section 630(4) of the Corporations Law that on 19 September 2000 the condition set out in clause 5.1(c)(i) of the offers dated 5
September 2000 by it under its off-market takeover bid to acquire ordinary, shares in Ashton Mining Limited was fulfilled.
Rio Tinto's Bidder's Statement for Ashton Mining Limited was lodged with the Australian Securities and Investments Commission, sent to Ashton and filed with ASX on 19 September 2000.
Capricorn Diamonds Investments Pty Ltd changed its relevant interest in Ashton Mining Limited on 25/08/2000, from 64,130,520 ordinary shares (19.9%) to 64,277,891 ordinary shares(19.9%).
Bligh Oil & Minerals NL has now finalised the allotment of 67,007,703 partly paid shares and options following completion of its successful renounceable rights issue.
On issue the following new securities:
* 66,950,698 shares partly paid to 6 cents
* 67,004,103 options exercisable at 15 cents each
Notice is hereby given that the annual general meeting of shareholders of Bligh Oil & Minerals NL will be held at The Hilton International Hotel, Ballroom A, 190 Elizabeth Street, Brisbane on Friday, 20 October, 2000 at 4.00 pm.
Bligh Oil & Minerals NL announces the appointment of Mr Brent Emmett as a director of the Company.
The Company held a public auction on Tuesday 19th September 2000 to auction forfeited Contributing Shares as fully paid due to non-payment of a call on these shares.
The number of forfeited shares offered for sale was 4,000,000.
No shares were sold, as bidding did not reach the reserve price.
There remains 4,000,000 forfeited shares.
2000 ANNUAL REPORT
CHAIRMAN'S LETTER TO SHAREHOLDERS
Dear Shareholder,
This has been a busy year for Sedimentary particularly in respect to Cracow, with substantial delineation drilling at the new Royal Shoot and further exploration activity in areas including Klondyke and Rose's Pride, resulting in the definition of an Inferred Resource of 390,000 ounces at Royal.
Our Avoca mine in Victoria, was closed owing to resource depletion and all the Avoca mine assets have been sold. A significant rehabilitation program was undertaken prior to the final shutdown.
We have recently agreed to another year's exploration and development program at Cracow with our joint venture partner, Newcrest Mining Limited. This will involve a commitment by Sedimentary of $1.61m during the year to 30 June 2001. Our commitment has been fully-funded by a placement and an underwritten non-renounceable issue. We are delighted to have received the support of Lion Selection Group Limited and also Macquarie Bank Ltd. as underwriters and we hope all shareholders will participate in the issue.
Your directors are hopeful that during this financial year a decision will be made to proceed with development at Cracow, to deliver on the potential for early stage cashflow.
I commend to you the detailed review of our activities prepared by our Managing Director Mr Rob Devereux and would also like to thank fellow directors and management for their support and their efforts for the Company during the year.
Rob's efforts on your behalf require special note. He has continued to manage the Company's affairs in a prudent and enterprising manner and his board is particularly grateful for his contribution.
For details of the Annual Report, click here.
All Ords
3188.2
Dow Jones
10,789.29
ASX200
3236.7
-39.7
S&P 500
1459.90
+15.39
All Resources
1402.3
Nasdaq
3865.64
All Mining
697.1
Gold - spot/oz
US$271.40
All Gold
709.2
Silver - spot/oz
US$4.84
AGC Explorers
835.0
n/a
Platinum - spot
US$590.0
no ch
Energy
1598.1
Palladium - spot
US$717.0
All Industrials
5502.9
Bridge CRB Index
228.26
FTSE 100
6378.4
-90.6
Crude Oil (NYMEX)
US$35.01
-0.54
Nikkei
16,124.19
+63.03
Copper (spot $US/tonne)
US$1984
-19
Hang Seng
15,677.20
+117.04
Lead (spot $US/tonne)
US$486
+6
A$ = US54.34c
Zinc (spot $US/tonne)
US$1224
A$ = 58.12yen
Nickel (spot $US/tonne)
US$8580
A$ = 0.638Euro
Aluminium (spot $US/t)
US$1603
US 30-Year Bond
5.914%
-0.042
Tin (spot $US/tonne)
US$5525
Live Quotes & Charts - Australia
24 Hour Spot Gold Price
June 2000 Quarterly Report
SUMMARY
For full report, click here
On Tuesday 5 September 2000, the Managing Director and other representatives from Acclaim Exploration NL met with the Wingelinna Aboriginal Community and their advisors at Wingelinna on the Western Australian side of Surveyor General's Corner to discuss access to the licensed area for the purposes of exploration and the pegging of mining leases. Consent to access Aboriginal Reserve is required under the Mining Act (WA) 1978 and the Licence conditions.
It was resolved to refer the issue of access for pegging to a wider meeting of the Community and Traditional Owners, which is scheduled for the first week of November. All parties were pleased with the outcome.
Allstate Explorations NL announces that it has re-negotiated the repayment schedule of its principal corporate loan facility with Macquarie Bank Limited, amounting to A$19.5 million.
Allstate, which manages and has 51.51% of the Beaconsfield Mine Joint Venture ("BMJV"), currently funds and expects to continue funding most of its cash calls to the BMJV from its share of the proceeds of gold and silver mined at Beaconsfield.
AMITY OIL NL (19 SEPTEMBER 2000)
Mr Ian Paton has resigned from the board of Amity Oil NL to continue his petroleum consultancy business. Mr Paton will provide consultant technical services to Amity on a part time basis.
AMADEUS PETROLEUM (19 SEPTEMBER 2000)
PROSPECTUS
For the offer of 28,730,005 options, exercisable at 25 cents each on or before 25/11/2004, at an issue price of 1 cent.
The maximum number of options to be issued will be 28,730,005. This will raise a total of $287,300 (before expenses of the Option Issue). The funds raised will be used for general working capital purposes. The options will be listed on the Australian Stock Exchange and will rank equally with other options in the Company. Details of the Option Issue and other matters required to be disclosed are set out in the enclosed Prospectus.
The Company confirms receipt today of a Bidder's Statement and Offer by a subsidiary of Rio Tinto Limited in relation to Ashton Mining Limited.
THE OFFER
(a) Capricorn offers to acquire your Ashton Shares on the terms and subject to the conditions set out in this Offer. You may only accept this Offer for all of your Ashton Shares.
(b) Capricorn will be entitled to all Rights (being those accruing after the date this document is sent to Ashton) in respect of Ashton Shares which it acquires under this Offer.
(c) This Offer extends to:
(i) securities that come to be Ashton Shares during the Offer Period
ii) any person who becomes registered or entitled to be registered as the holder of any of your Ashton Shares during the Offer Period.
d) This Offer is dated 2000.
Ashton Mining Limited announces that it has agreed on the formation of an incorporated joint venture with Alrosa Company Limited (Alrosa) to discover and develop diamond deposits in the Russian Republic of Karelia. Alrosa is the Russian company which is responsible for most of Russia's production and sales of diamonds. The agreement follows negotiations which commenced in January this year and culminated in signature of the necessary supplementary agreement by the Karelian government on 14 September 2000.
AUSTRALIAN GAS LIGHT COMPANY (19 SEPTEMBER 2000)
CONSORTIUM OF PREEMINENT FINANCIAL AND STRATEGIC INSTITUTIONS TO FUND NEW IP NETWORK FOR AUSTRALIA.
A consortium of financial and strategic institutions led by JP Morgan, AGL and AMP Asset Management today announced the closing of a total $175 million equity raising in Australia's first national
Internet Protocol ("IP") based wholesale carrier, COMindico Holdings Pty Ltd ("COMindico).
The funding represents one of Australia's largest private equity deals in recent history and is a significant private equity raising for an Australian start-up company.
BEMAX RESOURCES NL (19 SEPTEMBER 2000)
Bemax Resources NL announces a correction to their announcement of 18 September 2000. The number of ordinary shares to be issued to Imperial One Limited for the acquisition of Imperial Mining (Aust) NL is 18.95 million ordinary shares. The release had incorrectly stated the number to be 19.95 million shares.
BHP / QCT RESOURCES (19 SEPTEMBER 2000)
ASIC has granted QCT Resources Ltd (QRL) an extension of five days for preparation and dispatch of its Target's Statement in response to the current takeover offer by MetCoal Holdings (Qld) Pty Ltd (MetCoal). MetCoal has agreed to extend its offer by five days to 18 October 2000.
Prospectus a Notice of Annual General Meeting (AGM) of the Company to be held in Sydney on Monday, 6
November 2000. Shareholders will be asked to
consider and vote on three items of "Special Business" relating to the following:
* Approval of a selective Share Buy-Back;
* A change in the Company's status from a "No Liability" company; and
* Adoption of a new Constitution
Proposed Timetable and Important Dates
Announcement of Option Issue to ASX - 1 September 2000
Prospectus lodged with the ASIC and copy provided to ASX - 18 September 2000
Shares quoted on an 'ex' entitlement basis - 29 September 2000
Record Date for determining Shareholders' entitlements to Issue - 6 October 2000
Prospectus and Entitlement and Acceptance Forms dispatched (the Opening Date) - 9 October 2000
General Meeting of Shareholders to approve
Share Buy-Back - 6 November 2000
Closing date - 24 November 2000
Last day for allotment and dispatch of holding statements - 1 December 2000
Expiry Date of Options - 23 November 2000
The purpose of the Issue is to initially raise capital of $1.65 million, such proceeds to be utilised in the following manner:
(a) $400,000 for the prepayment of 12 months interest to PEI;
(b) $600,000 for the Company's exploration programme; and
(c) the balance to be used by the Company for working capital.
Coal & Allied Industries Limited advises that Mr Bryan Davis has been appointed as a non-executive director of the Company.
Coeur d'Alene Mines Corporation is pleased to announce that it has signed an exploration agreement with an option to purchase the Wonder silver property from F W Lewis, Inc.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 12,969,160
A public auction of 4,000,000 contributing shares due to non-payment of a call will be held on Tuesday 19 September 2000. The shares are to be auctioned as fully paid up ordinary shares. A reserve price has been set.
Multiplex Mining Pty Ltd and its subsidiary Danae Resources NL announce that the Preliminary Agreement on the operating Zarmitan Gold mines in Uzbekistan between Multiplex and the State Committee on
Geology and Mineral Resources (Goscomgeologia) of the Republic of Uzbekistan and the Gold and Diamond Producing Association of Uzbekistan (Uzalmazzoloto) was signed on 13th September, 2000 in
Tashkent and received by Multiplex Mining Pty Ltd on 18th September, 2000.
DETAILS OF THE ISSUE
THE OFFER
The Company is inviting holders of existing ordinary shares and holders of existing preference shares to subscribe for new redeemable/convertible/cumulative Preference Shares at a price
of 20c per Preference Share and free attaching Option to subscribe for another Preference Share on an entitlement basis of one Preference Share and Option for every 50 fully paid ordinary shares and two
Preference Shares held in the capital of the Company on the date that books close to determine entitlements on 29 September, 2000 ("Record Date"). Fractional entitlements will be disregarded.
Issue closes - latest date for acceptance and payment in full - 19 October, 2000
PURPOSE OF ISSUE
The purpose of the Issue is to raise moneys to provide the Company with additional working capital for its present business.
Specifically:
* $3.45 million will be used to acquire debentures in and debt owing by Cassiar Magnesium Inc.
* Up to $1 million (and possibly up to $2.5 million) will be used to finance the instalment and construction of the dredge and fine coal processing plant at Pageton, West Virginia.
* Up to $350,000 will be used to further the feasibility study of the Phulbari coal project in Bangladesh.
* The balance of the funds raised will be used to meet the Issue costs and increase the Company's working capital and ability to pursue other opportunities as they arise.
The Director, G JS Govett announces 359 shares were purchased on his behalf on 15 September 2000. Accordingly, he has a "relevant" interest in those shares.
Energy Equity Corporation Ltd (EEC) wishes to advise that Mr Patrick Ryan, the Deputy Chairman and Non Executive Director has resigned from the Board of EEC effective the 18th September 2000.
Notice of Change of Interests
Director, Peter Adrian Stedwell announces change in interest as of 1/9/00
Off-market bid
Federation is offering two (2) ordinary shares in Federation for every eleven (11) ordinary shares held by shareholders in Pinnacle as announced by Federation to the Australian Stock Exchange ('ASX') on 18 July 2000.
Federation's offer is conditional on Federation acquiring before the end of the Offer Period at least 30% (by number) of the ordinary shares in Pinnacle then on issue (whether or not the acquisitions happen under the Offers or otherwise) and the additional conditions set out under section 3.7 of this Statement.
Gindalbie Gold NL has announced that it had entered in to an option to purchase the Marymia Treatment Plant from Homestake Gold of Australia Ltd.
The option allows Gindalbie Gold NL time to complete its Feasibility Studies before purchasing and relocating the plant to site at Minjar in the South Murchison.
The Company announces the Annual General Meeting of the members of Golden Cross Resources Ltd ("Company" or "GCR") will be held at the Company's offices, 22 Edgeworth David Avenue, Hornsby, NSW, 2077 on Thursday 19 October 2000 at 10.00 am for the following ordinary business:
PROCEEDS FROM SALE OF MINERAL ASSETS - UP TO $1.5M
Gullewa has entered into two option and sale agreements for the gold resources and processing plant, with a combined exercise price of $1,020,000. In addition, a gross royalty of 1% will be earned by the Company with additional projected revenue in the short term of approximately $500,000, bringing the total expected proceeds to exceed over $1,520,000.
The Company has entered into two option agreements with King Solomon Mines for the sale of its mineral assets located at Gullewa.
The first option relates to the sale of the Company's CIL plant, camp, mine infrastructure and the tenements on which these items are located. KSM will pay Gullewa $20,000 for this option which is for a term of 6 weeks. KSM may exercise the option by paying Gullewa $300,000 and granting Gullewa a 1% gross royalty on future production.
The second option relates to the sale of the remaining tenements held wholly by Gullewa and Gullewa's interest in the joint venture with Australian Gold Resources NL. This option is for a fixed term of 15 months unless the option is exercised. KSM will pay Gullewa a $10 deposit for this option and may exercise the option by paying Gullewa $699,990 and granting Gullewa a 1% gross production royalty. KSM will be responsible for maintaining the tenements in good standing during the term of the second option.
Hardman Resources NL advises that its wholly owned subsidiary Planet Oil International plc ("Planet") has signed a conditional agreementto purchase 30% of the issued share capital of Star Petroleum International (Kenya) Ltd.
New Issue
Hillcrest Resources NL advises that it has today entered into a Heads of Agreement with Mediko Limited.
SUMMARY AND HIGHLIGHTS
* Hillcrest may acquire 28.4% of Mediko for $400,000 on or before 31 October 2000.
* Mediko was formed in 1999 to commercialise and market selected discoveries made by the Vitapharm Group, an international pharmaceutical organization based in Melbourne.
* The first product has been released in Australia and will now be released in Europe.
The Directors of the Company are pleased to announce that the first stage of the Company's sale of its direct interest in the BIP Joint Venture, which includes the Ginkgo mineral sand deposit, to BeMaX
Resources NL ("BeMaX") has been approved by BeMaX shareholders. In return, Imperial One will receive a 26.6% interest in BeMaX.
On completion of the sale of IMA to BeMaX, BeMaX will have an issued capital of 71.27 million shares, capitalising it at approximately $22M based on the closing share price at 30 cents on Monday, 18 September 2000.
Notice is hereby given that an Annual General Meeting of shareholders of Jubilee Mines NL will be held at the Hyatt Regency Hotel, Perth, Western Australia on 27 October, 2000 at 11am.
KAGARA RE-RATES MT GARNET THROUGH $6 MILLION BALCOOMA ACQUISITION
Kagara Zinc Limited (ASX: KZL) has boosted its Mt Garnet Zinc Project in North Queensland. Kagara announced today (Tuesday) that it had reached agreement with Lachlan to acquire a 100% interest in the Balcooma Project. The initial focus for Kagara will be the Surveyor 1 deposit, a high-grade polymetallic resource of 659,000 tonnes at 16.74% zinc, 6.70% lead, 1.00% copper, 142 g/t silver and 1.00 g/t gold.
NEW ISSUE ANNOUNCEMENT
Issue for Whittle Technology Limited's Initial Public Offering has been positive. The issue will definitely close at 5:00pm on 6 October 2000.
Lachland Resources NL announces it has reached an agreement to sell its 100%-owned Balcooma lead-zinc project, located in northeastern Queensland to Kagara Zinc Ltd (Kagara). This agreement is expected to be settled by mid October 2000.
Lafayette Mining Limited announce a full copy of the ASIC Annual Audited Accounts is available for
purchase from ASX Customer Service on 1 300 300 279. Charges apply.
Matrix Oil NL advises that, as a result of an extensive and independent review of data from its Langsa TAC oil fields (H and L Fields), it has upgraded the estimates of proven and probable (P2)
reserves from 12.8 million barrels of oil to 33.5 million barrels.
Further to the Company's announcement of the 31 August 2000 Metex Resources Limited announces that re assays from individual metre samples from first pass reconnaissance RAB drilling from one of two RAB traverses completed testing a new gold in soil anomaly delineated by earlier vacuum drilling, has significantly upgraded the potential for near surface high grade mineralisation.
NEW ISSUE ANNOUNCEMENT
Guinness Peat Group plc decreased its relevant interest in Mid-East Minerals Limited on 14/09/2000, from 18,378,093 ordinary shares (86.02%) to 18,048,093 ordinary shares (84.48%).
Company respond to the letter from Zurich Bay Holdings Pty Ltd in order to present shareholders with a balanced view of the alternatives they are being offered and to respond to a number of points raised.
A comparison of what shareholders are being offered is as follows:
EXISTING BOARD
1. The current board's strategy is to optimise the value of current advanced projects and allow for upside from cost effective exploration strategies aimed at world class mineral deposits.
2. Mix of relevant skills - geological, mining engineering, legal and commercial.
3. The Current Board's executive directors principal activity is the company's affairs, and have strong relationships with various major mining groups, many of whom are headquartered on the east coast.
PROPOSED ZBH BOARD
1. The proposed board has not articulated a detailed strategy for the company.
2. Wayne Loxton is a mining engineer.
3. The proposed directors have not elaborated on the properties or interests they intend to acquire for the company or from whom.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 3,303,345
The Directors announce that the Entitlements Issue has been finalised.
Closure of the Entitlements Issue 4,268,190 ordinary shares were accepted by existing shareholders and 5,597,899 ordinary shares were accepted by or on behalf of the underwriter, D J Carmichael Pty Limited. In addition up to 4,933,045 free attaching listed options exercisable at 20 cents each on or before 30 June 2003 will be granted to subscribers to the Entitlements Issue.
Norwest Energy NL has been advised that it is likely that the ZOCA96-16 Joint Venture, in which it has a 14% interest, will take possession of the "Ocean General" drilling rig on September 24th 2000.
A further announcement will be made when hand over of the rig has been effected.
Notice of Change of Interests - effective 13/09/2000
30,000 ordinary shares
Cottesloe Pty Ltd - H K McCann a Director
90,000 ordinary shares
H J McCann Investments Pty Ltd - H K McCann a Director
500 ordinary shares
Wholly owned by H K McCann
The company advises that permission has been received from the Papua New Guinea Department of Petroleum and Energy ("DPE") to resume oil production from the Central Moran oil field and production is scheduled to commence from the Moran-4 well later today.
Otter expects to provide Allstate with approximately A$600,000 to support Allstate in meeting its share of the operational costs of the Beaconsfield Mine, up to and including the first cash call after the end of March 2001, although the maximum contingent liability of Otter is A$2.5 million. Otter will provide the funds it is called upon to pay from the proceeds of its 2 for 5 Rights Issue previously announced.
Pan Australian Resources NL has announced that it has entered into a Call Option Agreement with Normandy Anglo Pte Ltd to acquire an 80% interest in Phu Bia Mining Ltd, a Company based in Laos.
Phu Bia Mining is a wholly owned subsidiary of Normandy Anglo, a 50/50 joint venture company owned by Normandy Mining Limited and Anglo American plc, which holds a Mineral Exploration and Production Agreement (MEPA) with the Government of the Lao People's Democratic Republic.
For further information, click here
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 8,910,370
The release made by the company on 30 August contained an error in relation to the Annual General Meeting details.
The commencement time of the AGM should have read 11.30 am
Perilya announces fact sheet setting out details of Perilya Limited's investment in Strike Oil NL and a description of that Company's current activities. It is proposed to forward a copy of the Fact Sheet to Perilya
Shareholders.
Announcement No. 6A184166 was released on 19 September 2000 under the incorrect ASX code, PHX, Phoenix Mining Limited with the header, "App.3B-Finalise Construction of Demo.Plant@Hornsby".
This announcement has now been cancelled.
Takeover offer of Pinnacle by Federation - The Offer is scheduled to close on 3 November 2000. If you have any questions about the Offer, please do not hesitate to contact Federation on +61 3 9654 1100.
Federation is offering one (1) ordinary share in Federation for every eight (8) PCEOB Options you hold as announced by Federation to the Australian Stock Exchange ("ASX") on 18/07/2000.
Federation's offer is conditional on Federation acquiring before the end of the Offer Period at least 30% (by number ) of the PCEOB Options then on issue (whether or not the acquisitions happen under the Offers or otherwise) and the additional conditions set out under section 3.7 of this Statement.
IMPORTANT DATES
Statement lodged with ASIC 18 September 2000
Date of Statement 18 September 2000
Date Offer is made 2 October 2000*
Offer expires, unless extended 3 November 2000*
* This date may be changed as permitted by the Corporations Law
Federation announces that today (18 September 2000) it sent to Pinnacle VRB Limited ACN 060 111 784 ('Pinnacle') the bidder's statement and offer document in respect of the off market takeover bid which was announced on 18 July 2000.
RAMSGATE SHAREHOLDERS APPROVE NAME CHANGE TO INTERNET SOLUTIONS AUSTRALIA
Ramsgate Resources Limited (ASX: RGR) shareholders have today approved a name change to Internet Solutions Australia Ltd (ASX: ISA) and the sale of all remaining mining assets.
RESULTS OF GENERAL MEETING
RESOLUTION 1 - CHANGE OF COMPANY NAME
RESOLUTION 2 - RE-ELECTION OF R SMITH AS A DIRECTOR
RESOLUTION 3 - SALE OF MINING INTERESTS
SHAREHOLDER UPDATES
IMPORTANT NOTES
Because ROC did not become a publicly listed company until 5 August 1999, it is not possible to make any meaningful comparison between the Company's financial results for the first half of 2000 and the equivalent six month period last year. However, in order to provide shareholders with a relevant perspective, the first half 200 financial results are compared to the results for the whole of 1999.
Effective 1 March 2000, ROC sold its non-core oil producing assets onshore UK (the "non-core asset sale") which, at the time represented approximately 19% of the Company's daily oil and gas production.
Under separate cover ROC is sending out a Shareholders' Update to all of the Company's more than 6,000 shareholders in accordance with the Company's practice of maintaining a maximum level of direct communication with its shareholders.
Petroz advises that the sustained improvement in production resulting from remedial work carried out on wells and production facilities on the Elang/Kakatua/Kakatua North Oil Fields in the Timor Sea Zone of Co-operation during the first half of this year has resulted in a further increase in recoverable reserves.
Average daily production for the period 1 August to 13 September 2000 was 20,370 barrels of oil per day.
All Ords
3228.0
Dow Jones
10,808.52
ASX200
3276.4
-53.4
S&P 500
1444.51
-21.3
All Resources
1395.8
Nasdaq
3726.52
All Mining
708.8
Gold - spot/oz
US$270.9
All Gold
721.7
Silver - spot/oz
US$4.83
AGC Explorers
835.0
-5
Platinum - spot
US$590.0
no ch
Energy
1601.3
Palladium - spot
US$705.0
All Industrials
5587.5
Bridge CRB Index
229.0
FTSE 100
6410.2
-7.1
Crude Oil (NYMEX)
US$35.55
+0.83
Nikkei
16,061.16
-152.12
Copper (spot $US/tonne)
US$2005
n/a
Hang Seng
15,560.16
-689.37
Lead (spot $US/tonne)
US$480
n/a
A$ = US54.27c
Zinc (spot $US/tonne)
US$1277
A$ = 58.05yen
Nickel (spot $US/tonne)
US$8885
A$ = 0.635Euro
Aluminium (spot $US/t)
US$1645
US 30-Year Bond
5.956%
+0.061
Tin (spot $US/tonne)
US$5525
Live Quotes & Charts - Australia
24 Hour Spot Gold Price
Sirocco Resources NL ("Sirocco") is pleased to announce that VOD Pty Ltd ("VOD") and TransACT Communications Pty Ltd ("TransACT") have entered into a heads of agreement for VOD to supply Video on Demand, broadband Internet access, games on demand and other services over TransACT's fibre optic broadband cable and DSL (Digital Subscriber Line) communications network in the ACT, Sirocco owns 26.7% of VOD Pty Ltd.
Martinick Holdings Pty Ltd became a substantial shareholder in Sun Resources NL on 28/07/2000 with a relevant interest in the issued share capital of 4,074,794 ordinary shares (6.01%).
It is proposed to raise approximately $4,873,087 from the Issue by the issue of approximately 10,829,082 New Shares and 5,414,541 New Options, subject to conversion of Existing Options prior to the Record Date and subject to adjustments for fractions being disregarded in calculating entitlements.
ISSUE RATIO AND PRICE
For every 8 Shares held, a shareholder is offered 1 New Share at an issue price of $0.45 per New Share. For every 2 New Shares allotted, the applicant will receive 1 New Option for no additional consideration. The issue price of $0.45 per New Share is payable on application.
IMPORTANT DATES FOR SHAREHOLDERS(1)
Announcement of the Issue 5 September 2000
Lodgement of Prospectus with ASIC 5 September 2000
'Ex' trading commences 18 September 2000
Record Date to determine entitlements 10pm WST, 22 September 2000
Despatch of Prospectus 27 September 2000
Issue Closing Date and last date for acceptance and payment 5pm WST, 17 October 2000(2)
Quotation of New Shares and New Options on a deferred settlement basis 18 October 2000
Last day for allotment and despatch of holding statements for New
Shares and New Options 7 November 2000
The Chairman announced the Company is offering its shareholders an entitlement to acquire one New Share for every eight shares held by them at 10.00 pm WST on 22 September 2000 at an issue price of $0.45 per New Share ("Rights Issue"). For every two New Shares allotted, one attaching New Option will be granted to the applicant for no additional consideration.
Each New Option is to be exercisable at $1.00 for one fully paid ordinary share at any time up to 5.00pm EST on 30 September 2002.
Troy Resources NL ("Troy") proposes to make a cash offer of 7.6 cents per fully paid ordinary share in Taipan Resources NL ("Taipan").
Tap Oil NL advises that the Tusk-1 exploration well which spudded on 8 September 2000 has drilled to a total depth of 2,020 metres measured depth.
LOCATION
The well is located in WA-246-P, 20 kilometres west of the Stag Oil Field, and 5 km north of the recent oil discovery in Oryx-1, at latitude 20deg14'44.19"S and longitude 116deg08'08.66"E.
PROGRESS
As at 6.00am Monday 18 September, the well has drilled ahead to the total depth of 2,020 metres measured depth. Wireline logs including fluid sampling, pressure testing and sidewall cores have been obtained.
Three oil bearing sandstones have been intersected within the Athol Formation over the intervals of 1,162 to 1,173 metres, 1,183 to 1,187 metres and 1,205 to 1,222 metres measured depth. Oil was recovered on wireline sampling (RDT tool) at depths of 1,166 metres (17 degree API) and 1,217 metres (18 degree API). No oil/water contacts have been identified. Reservoir quality of the sandstones is uncertain from the log data, therefore a sidetrack of the well and full core programme of the Athol formation sandstone oil bearing reservoirs has been commenced.
In addition an oil column of 10 metres has been intersected at the top of the Triassic Mungaroo Formation at a depth of 1,297 metres measure depth with an oil/water contact established at a depth of 1,307 metres. Reservoir quality of these sandstones is good. Oil was recovered on wireline sampling at a depth of 1,300 metres with an API gravity of 18.
TAP COMMENT
This discovery follows on from the previous discovery of oil in similar Athol Formation sandstones in the Oryx-1 well, 5 kms to the south within the adjacent permit WA-209-P. Any development decision for the Tusk discovery would likely be in association with the Oryx oil discovery and tied back by pipeline to the Stag Oil Field 20 kms to the east.
FORWARD PLAN
The well has since been plugged back to 1,090 metres and sidetracked. Current operations are to cut a core over the sidetrack interval of 1,162 to 1,222 metres comprising the Athol Formation sandstones to determine the reservoir quality.
Notice is given that the Annual General Meeting of Tribune Resources NL will be held at Suite G1, 49 Melville Parade, South Perth on Thursday 30th November 2000 at 9.30am WST.
BUSINESS OF THE MEETING
1. FINANCIAL STATEMENTS
2. TO RE-ELECT A DIRECTOR
3. GENERAL BUSINESS
West Oil has been advised that the ZOCA96-16 Joint Venture will take possession of the "Ocean General" drilling rig on September 24th 2000.
A further announcement will be made when hand over of the rig has been effected.
Commonwealth Bank of Australia, Colonial Ltd decreased its relevant interest in Western Metals Limited on 15/09/2000, from 26,571,895 ordinary shares (8.08%) to 23,100,657 ordinary shares (7.02%).
Buy back - TOTAL NO. OF SHARES THAT MAY STILL BE BOUGHT BACK - 13,084,950
Woodside Petroleum Ltd, Operator of the WA-5-L Joint Venture, reports that the Castor-1 exploration well located in the Carnarvon Basin was in the process of plugging and abandoning the well at 0600 hrs WST on 19 September 2000. The hole total depth is 3798 metres. Woodside's interest in WA-5-L is 16.7%.
BeMaX Shareholders Approve Acquisition of Additional 25% of Ginkgo
The BIP Joint Venture, which owns the Ginkgo mineral sands deposit, presently consists of BeMaX Resources NL (50% and operator), Imperial Mining (Aust) NL (25%) and Probo Mining Pty Ltd (25%).
BeMaX is currently acquiring Imperial Mining (Aust) NL, which will bring BeMaX's beneficial interest in the BIP Joint Venture to 75%.
The acquisition was today approved by the shareholders of BeMaX, and is now subject to the approval of Imperial One Limited shareholders who will consider the transaction at an EGM on 9 October 2000. In an Independent Experts Report prepared for BeMaX shareholders by KPMG Corporate Finance (Aust) Pty Ltd, the mineral sands assets of the BIP joint venture were valued at "not less than $40 million". For full details, click here
The Company also announces that Mr Nicholas Mather has resigned as a director of BeMaX Resources NL and its subsidiaries, effective Friday 15 September 2000.
Annual Report 2000
HIGHLIGHTS
The Directors advise that Mr David Simcox has resigned as Joint Company Secretary of the Company. Mr Peter Lee continues as Company Secretary.
On Friday, 15 September, FIRB advised Ashton that it had not concluded its consideration of the De Beers bid within the statutory 30 day period and, accordingly, was extending the deliberation period as is provided for in the Foreign Acquisitions and Takeover Act.
The Capital Group Companies Inc ceased to be a substantial shareholder in Ashton Mining Limited on 14/09/2000.
National Australia Bank Limited Group decreased its relevant interest in Brandrill Limited on 15/09/2000, from 8,098,698 ordinary shares (11.33%) to 7,793,895 ordinary shares (9.63%).
NEW ISSUE ANNOUNCEMENT
NEW ISSUE ANNOUNCEMENT
NEW ISSUE ANNOUNCEMENT
Notice is hereby given that the Annual General Meeting of Dalrymple Resources NL will be held at the Celtic Club, 48 Ord Street, West Perth, at 12 Noon on Thursday 26 October 2000.
Alcoa of Australia Limited increased its relevant interest in Eastern Aluminium Limited on 15/09/2000, from 108,333,432 ordinary shares (98.57%) to 108,930,664 ordinary shares (99.12%).
Gunson's Coburn heavy mineral sands deposit has drilled to a mineralised zone 14km long, 1.2km wide and 33cm thick, named Amy. The average grade from panning is 0.9 per cent heavy minerals with grades increasing near the base of the zone to an average 1.8 per cent.
The Directors advise that Mr David Simcox has resigned as Joint Company Secretary of the Company. Mr Peter Lee continues as Company Secretary.
The securities of Hillcrest Resources NL will be placed in pre-open pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in pre-open until the earlier of the commencement of normal trading on Wednesday 20 September 2000 or when the announcement is released to the market.
Security Code: HLL
The Directors advise that Mr. David Simcox has resigned as Joint Company Secretary of the Company. Mr. Peter Lee continues as Company Secretary.
Operator, Apache Energy Ltd has advised Rhebok 1 in WA-261-P should now spud on or about Thursday, 21 September 2000. The Ron Tappmeyer rig is currently northwest of the site on location in WA-209-P Tusk 1.
Rhebok 1 in WA-261-P is targeting a Lower Cretaceous M Australis Sand pinch out trap prospect up dip of the Stag Oilfield at -694 to 720 metres (RT) depth. The Stag Oilfield to the northeast is currently producing at 33,000 barrels of oil per day from the same target reservoir, locally called the Stag Sand. The prospect has potential mean to P10 case reserves of 17 to 45 million barrels of oil recoverable assuming oil is present in the target sands.
The final depth of the well will be 1,084 metres (RT). The increased depth will allow testing of older inferred pinch out sands in the Mid Jurassic Athol Formation and the Triassic Mungaroo Formation. The deeper and older secondary target sands are of strong interest based on the results of the recently completed Chamois 1 and Oryx 1 wells to the west and northwest respectively where traps containing sands of these ages once contained significant accumulations of Stag type oil.
NEW ISSUE ANNOUNCEMENT
PROSPECTUS
For the issue of:
(a) Up to 5,765,000 shares with an issue price of $0.20 upon the exercise of 5,765,000 options issued under the Employee Option Plan since 27/01/1999; and
(b) 475,000 free Employee Options under the Employee Option Plan, with an exercise price of $0.20, and expiring on 23/08/2002.
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 13,134,950
NEW ISSUE ANNOUNCEMENT
NEW ISSUE ANNOUNCEMENT
Daily Share Buy-Back - continued; maximum remaining number of shares to be bought back: 13,219,160
CHARTERS TOWERS GOLD MINES (18 SEPTEMBER 2000)
Charters Towers Gold Mines announces the appointment of Mrs Roslynn Judith Shand as Company Secretary and Legal Counsel.
The Company's flagship operation, the Charters Towers Gold Project, is expected to grow from the current gold resource of 850,000ozs to one million ounces this calendar year. Deep drilling of major lode structures that produced Australia's highest grade major gold field (with average recovered grades of 34g/t) is planned as soon as the project reaches this target.
Carnarvon Petroleum NL advise that Liam Fry has resigned as Company Secretary of Carnarvon Petroleum NL and its subsidiaries.
Warren Beckwith, a Director of the Company has been appointed as his replacement effective from 8 September 2000.
NEW ISSUE ANNOUNCEMENT
Notice is hereby given that the Annual General Meeting of Energy Resources of Australia Ltd will be held at the All Seasons Premier Menzies Hotel, 14 Carrington Street, Sydney, New South Wales on Thursday 19 October 2000 at 10:00am.
PROSPECTUS
For a Placement of up to 20,000,000 fully paid ordinary shares each at an issue price of ten (10) cents together with one free attaching Option each exercisable at 20 cents and expiring on 31 December 2002 to raise up to $2,000,000.
UNDERWRITER
D&D-Tolhurst Ltd
ACN 004 456 053
NEW ISSUE ANNOUNCEMENT
NEW ISSUE ANNOUNCEMENT
The oil flow at the Tinker Complex (reported 4th September) from East Glen No 1 continues at 370 barrels a day through a 1/3 inch choke with an estimated 600,000 cubic ft/day gas. No statement about reserves can be made at the present time and testing of oil in three other wells from the same zone situated 2 kms, 4 kms and 6 kms north of East Glen will occur in late October with the installation of plunger gas/oil lift systems. Mosaic's net oil production continues to be in excess of 500 barrels of oil per day for the month of September.
NEW ISSUE ANNOUNCEMENT
RIGHTS ISSUE
THE OFFER
* The renounceable rights offer will be made to all legally eligible shareholders and legally eligible "2003" optionholders in the ratio of 2 new fully paid ordinary shares for every 5 existing shares and/or '2003' options held.
* The subscription price will be NZ39 cents (A30 cents) per share payable in full on application.
* With 51,775,133 ordinary shares already on issue together with 27,279,002 participating "2003" options, this will mean that approximately 31,621,600 new shares, will be offered.
* The terms of issue of the 13,621,855 "2001" options do not provide for participation in this offer.
* As the offering documents will be registered only in Australia or New Zealand, the offer cannot be made to investors with registered addresses outside of those two countries, unless those investors satisfy the Company that the offer may legally be made to them. Otherwise efforts will be made to sell the "rights" and to remit the proceeds to those investors.
* Entitlements will be rounded up to the nearest whole number, with holdings on different registers aggregated for this purpose.
PURPOSE
The funds are required to ensure that:
i) The Tanami exploration efforts on, both the new and existing ground are maintained.
ii) The necessary remaining capital expenditures are made at Beaconsfield and Martha.
iii) A suitable level of working capital is available to the company.
UNDERWRITING
The offer is fully underwritten by Sabatica Pty Ltd, a wholly owned subsidiary of Mid-East Minerals Ltd, itself a subsidiary of the Guinness Peat Group plc. The underwriting fee is 4% of the total offer or approximately $493,000,
Notice is hereby given that an Extraordinary General Meeting of Pan Australian Resources NL will be held at the Brisbane Polo Club, Naldham House, Waterfront Place, 1 Eagle Street, Brisbane on Friday 6 October 2000 at 10.00 am.
For company information, click here
The General Meeting of Petroz shareholders held on 14 September 2000 has been adjourned 21 days until Thursday, 5 October 2000.
The purpose of the adjournment is to allow the Petroz Board and its advisers to consider a merger proposal put to the Company by Novus Petroleum and thereby make a properly informed recommendation to shareholders regarding the proposed placement and underwriting agreement with Fletcher Challenge Energy.
The Board of Directors of Rimfire Pacific Mining NL announces that the following resolutions were passed unanimously at the Annual General Meeting of the Company held Friday, 15 September.
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