PAPUA NEW GUINEA - WCB funded for drill program

After receiving Aus$6 million from a private placement, WCB Resources can now rapidly move forward with a drill program on the Misima porphyry prospect, Misima Island. The company current has a 30% equity interest in the project with an option to acquire up to a 70% equity interest.

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PHILIPPINES - Masbate annual guidance unchanged

Although first quarter gold production at B2Gold’s Masbate project was lower than expected overall production guidance for 2014 remains unchanged. There were 42,576 ounces of gold produced compared to budget of 51,892 ounces.

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M & A - Guangdong Rising bid for PanAust

Chinese state-owned company Guangdong Rising Assets Management (GRAM) has made a bid for Laos copper-gold-silver producer PanAust which values the ASX-listed company at more than Aus$1.4 billion. PanAust operates the Phu Kham and Ban Houayxai projects in Laos, produces close to a third of the developing South East Asian nation's exports and accounts for almost 8% of GDP.

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