INDONESIA - Southern Arc continues West Lombok talks

Southern Arc Minerals has substantially trimmed September quarter losses compared to the previous quarter, finishing with working capital of $8.1 million. It continues to advance discussions for a potential partnership or outright sale of its West Lombok property and is also focusing on directing cash toward buying new high-quality projects in stable regions.

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INFRASTRUCTURE - Approval for Lucky Bay export facility

South Australia’s first common-user export facility, Lucky Bay in Spencer Gulf, is set to become a reality after the South Australian Minister for Planning John Rau issued planning approval for the project.

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INVESTMENT - Baosteel Increases Aquila shareholding

Aquila Resources has been notified that the purchaser last week of 19 million shares in Aquila, approximately 4.6% of total shares on issue, is a party related to Baosteel Group Corporation.

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INVESTMENT - Magpie signs MoU with Pangang Group

Fancamp Exploration’s 46.7%-owned subsidiary Magpie Mines has signed a Memorandum of Understanding (MoU) with Pangang Group of Panzhihua in China’s Sichuan province following a recent Magpie delegation visit to Pangang.

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