Kun-Manie resource upgrade expected

Amur Minerals expects a substantial upgrade to the resource at the Kun-Manie Nickel Project in Russia after initial results from exploration at the Ikenskoe/Sobolevsky (IKEN) target. Drilling since early May has extended the strike by 500 metres at an average of nearly 1% nickel and 0.3% copper, substantially higher than previous results.

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New Mongolian president inaugurated

Khaltmaa Battulga of the Mongolian Democratic Party has been officially inaugurated as President of Mongolia after winning the run-off election. The Mongolian president serves a four-year term and can be re-elected only once.

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BlackGold to raise funds for power plant

BlackGold Natural Resources intends to raise up to S$8.2 million in a share placement agreement. The company intends to use part of the net proceeds for developmental expenses relating to the Riau 1 power plant project in Indonesia.

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Increased production at Way Linggo

Operations at the Way Linggo Gold Project in South Sumatra, Indonesia, are progressing well, with June quarter production increasing 50% from the previous quarter to about 5055 ounces of gold. The project is operated by Kingsrose Mining, which is subject to a deed of company arrangement.

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