LEAD-ZINC-SILVER - Manbarrum project farm-in

Kimberley Metals has reached an agreement with TNG Resources by which the Sorby Hills Joint Venture of Kimberley and Henan Yuguang Gold & Lead Co may earn up to an 80% interest in TNG's Manbarrum Project.

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LITHIUM - Galaxy postpones Hong Kong IPO

Unfavourable financial markets have prompted lithium focused miner Galaxy Resources to postpone its proposed initial public offering in Hong Kong until further notice.

The ASX-listed Galaxy had planned a dual listing on the Hong Kong Stock Exchange at the end of the current quarter.

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M&A - Regent Pacific terminates BC bid

HONG Kong-listed Regent Pacific Group has terminated a $345 million bid for BC Iron because of opposition to the deal from BC's major shareholder Consolidated Minerals.

Regent Pacific said in a statement that in light of ConsMin's unqualified position that it is 'flatly opposed' to the scheme, Regent's board had decided to withdraw the offer.

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MAGNETITE - Strong Tete intercepts

Baobab Resources continues to delineate substantial magnetite mineralization at its Tete iron/vanadium/titanium project in Mozambique.

Drilling is continuing on the South Zone where analytical results have been returned from a three hole RC drilling cross section in Block 1, the southern-most portion of the prospect. A broad, 140 metre-wide, body of heavily mineralized magnetite is being delineated.

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