Robust Resources has completed the acquisition of the Andash Mining Company for a total consideration of Aus$15 million. Andash owns 80% of the Andash Copper-Gold Project, which is in the Central Asian Orogenic Belt and has reserves of 539,730 ounces of gold and 63,486 tonnes of copper with significant exploration upside.
Southern Cross Goldfields and Polymetals Mining have joined forces to create a strong Australian junior with $11 million in cash, a 1.6 million ounce gold resource inventory and a flexible platform for growth.
Base and precious metals producer Perilya Ltd has received a friendly takeover offer from its majority shareholder, Shenzhen Zhongjin Lingnan Nonfemet Company Ltd (Zhongjin). Chinese-based Zhongjin, which holds a 53.4% stake in the company, has offered to pay Aus$0.35 for each outstanding share in the business that it does not already own.
Kincora Copper has resumed exploration activities in Mongolia and early indications from an induced polarization (IP) survey at the Bronze Fox Copper Project are encouraging. Further work will take place during the current quarter aimed at generating targets on Bronze Fox.