www.gulfresources.net.au
GGulf Resources is a resource development company that creates value for shareholders through the identification, acquisition and valorisation of resource focused projects, with a particular emphasis on regions where Gulf maintains relationships that provide a strategic advantage.
With a team of experienced engineering, project management, legal, financial and resource specialists, Gulf fosters and seeks to develop projects of major significance to both the company and the countries in which Gulf operates.
Gulf Industrials in pre-open pending capital raising announcement
Gulf Industrials (ASX: GLF) has been granted a trading halt by the ASX pending a capital raising announcement, with the company's shares placed in pre-open.
Gulf has not yet indicated where the potential new inflow of funds will be allocated, but earlier in the month increased the current mining lease on the Namekara Vermiculite Mine in Uganda.
The increase was from adding additional exploration licenses, which will enable Gulf to take advantage of supply side deficits in vermiculite.
Namekara has a JORC Inferred Resource of 55 million tonnes - one of the largest vermiculite resources in the world - with the coarser nature of the mineral output attracting a price premium.
Gulf has planned an aggressive diamond drill program for 2011 of 8,000 metres which will commence in the June quarter.
Exploration is aimed at increasing output from Namekara to 130,000 tonnes per year.



















