Proactiveinvestors United Kingdom Siburan Resources https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Siburan Resources RSS feed en Wed, 19 Jun 2019 23:50:44 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Siburan Resources plans tungsten connections as Chinese partnership deepens ]]> https://www.proactiveinvestors.co.uk/companies/news/157118/siburan-resources-plans-tungsten-connections-as-chinese-partnership-deepens-64975.html Siburan Resources (ASX:SBU) has helped its chances of making business connections with Asian tungsten customers by formalising a marketing relationship with a Chinese auto parts manufacturer.

Siburan – which develops both tungsten and gold assets – has reached an arrangement with China Automobile Parts Holdings Limited to investigate the viability of the market in Australia for its products.

The arrangement will allow China Automobile benefit from Siburan’s assistance in showcasing its car products in Australia with the aim of establishing a sales presence.

The deal follows a move by Siburan in May to acquire 16.67% of China Automobile as part of the Perth-based company’s strategy to gain a presence in China.

This in turn is expected to open doors to major players in the tungsten industry as well as potential end-users and offtakers for Siburan’s Kirwan tungsten project in New Zealand.

Kirwan is planned to be the largest tungsten mine outside of China and is slated to deliver a JORC resource in the coming months based on a series of drilling programs to outline the extent of the mineralisation.

The project covers 837 square kilometres 12 kilometres east of the township of Reefton on NZ’s South Island.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong.

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Thu, 08 Oct 2015 17:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/157118/siburan-resources-plans-tungsten-connections-as-chinese-partnership-deepens-64975.html
<![CDATA[News - Siburan Resources starts drilling at Western Australia gold project ]]> https://www.proactiveinvestors.co.uk/companies/news/157117/siburan-resources-starts-drilling-at-western-australia-gold-project-60856.html Siburan Resources (ASX:SBU) has started the maiden drilling program at its Canegrass gold project near Kalgoorlie, Western Australia.

The program is expected to take between two or three weeks with assay results to be released after completion of drilling.

Canegrass consists of two tenements located approximately 80 kilometres north northwest of Kalgoorlie covering a total of 147.6 square kilometres.

The project area is believed to be prospective for gold in granite style of mineralisation observed within the goldfields region.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 23 Feb 2015 15:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/157117/siburan-resources-starts-drilling-at-western-australia-gold-project-60856.html
<![CDATA[News - Siburan Resources to launch capital raising ]]> https://www.proactiveinvestors.co.uk/companies/news/157116/siburan-resources-to-launch-capital-raising-57874.html Siburan Resources (ASX:SBU) has been granted a trading halt by the ASX pending capital raising details.

SBU's shares are now in pre-open.

During the June quarter 2014 SBU placed shares to raise AUD$ 232,500, and also appointed Mr Mak, Siew Wei as a non-executive director of the company.

The halt will remain in place until the opening of trade on Thursday 2nd October 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 30 Sep 2014 12:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/157116/siburan-resources-to-launch-capital-raising-57874.html
<![CDATA[News - Siburan Resources to raise exploration and development capital ]]> https://www.proactiveinvestors.co.uk/companies/news/157115/siburan-resources-to-raise-exploration-and-development-capital-54781.html Siburan Resources (ASX: SBU) has appointed Melbourne-based JCL Capital as its capital advisor to seek investors for its planned $310,000 placement.

Proceeds from the issue of 15.5 million shares priced at $0.02 each will be applied towards the exploration and development of current projects and pursuing new resource opportunities.

JCL will also act as Lead Manager for a proposed one for one non-renounceable underwritten pro rata rights issue priced at $0.01 per share to raise about $1.19 million.
   
The company has conducted geological mapping which included the search for old workings and adits at its Endeavour Antimony and Gold Project located about 20 kilometres north of Picton on New Zealand’s South Island.
 
Drill applications for the Kirwan Tungsten and Gold Project in New Zealand are expected to be granted. Preparation for drilling is also continuing at the Canegrass Gold Project at Kalgoorlie, Western Australia.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 07 May 2014 14:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/157115/siburan-resources-to-raise-exploration-and-development-capital-54781.html
<![CDATA[News - Siburan Resources raises $3m to progress Kirwan tungsten project in New Zealand ]]> https://www.proactiveinvestors.co.uk/companies/news/157114/siburan-resources-raises-3m-to-progress-kirwan-tungsten-project-in-new-zealand-48398.html Siburan Resources (ASX: SBU) has received a vote of confidence in the company's operations, with sophisticated investors supporting a $3 million placement - which comprised 60 million shares at $0.05.

Siburan will use the funds to progress the Kirwan tungsten project in New Zealand, as the company aims to develop a substantial mineable low-cost tungsten resource outside China. Funds will also be allocated to exploration at other projects.

Kirwan is located 12 kilometres east of the township of Reefton on the South Island, and covers 837 square kilometres.

The placement will be in three tranches of $1 million. Tranche 1 million to be paid within a week of shareholder approval; Tranche 2 within a month of the first payment; and Tranche 3 million within another month of the second payment.


Kirwan tungsten project

During the June quarter Siburan conducted petrographic work on mineralised tungsten intersections, which were submitted for study to determine if scheelite mineralisation and sulphides are directly related i.e. part of the same mineralising event.

Bulk sampling of the mineralised rock is planned to determine if the scheelite ore at Kirwan is suitable to pre concentration using X-ray sorting.

Siburan believes that significant areas of tungsten anomalism still remain untested at Kirwan Hill.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 24 Sep 2013 17:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/157114/siburan-resources-raises-3m-to-progress-kirwan-tungsten-project-in-new-zealand-48398.html
<![CDATA[News - Siburan Resources keeps up drilling tempo in New Zealand ]]> https://www.proactiveinvestors.co.uk/companies/news/44407/siburan-resources-keeps-up-drilling-tempo-in-new-zealand-52983.html

Siburan Resources’ (ASX: SBU) drilling activities at the Kirwan Hill tungsten and gold project in New Zealand is proceeding according to schedule as it enters a period of active exploration.

“Our investments over the last 2 years are now coming to fruition in the form of our drilling activities in New Zealand,” managing director Noel Ong said.

He added that in some parts, drilling conditions are better than expected.

“Weather conditions are currently favourable and we hopeful we will complete our goals this exploration season.”

The company is currently carrying out a 1,200 metre diamond drilling program at Kirwan Hill to confirm the grade and continuity of the tungsten mineralisation.

Most of this will be focused on the Kirwan Hill Prospect.

Drilling of the KHDD004 hole has been completed and the core logged and samples despatched to laboratories.

Assay results are expected within four to six weeks. Siburan is currently drilling hole KHDD005.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 29 Jan 2013 03:05:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/44407/siburan-resources-keeps-up-drilling-tempo-in-new-zealand-52983.html
<![CDATA[Media files - Siburan Resources looks to "exciting" drill phase ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/1480/siburan-resources-looks-to-exciting-drill-phase-1570.html Fri, 07 Dec 2012 15:12:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/1480/siburan-resources-looks-to-exciting-drill-phase-1570.html <![CDATA[News - Siburan Resources appoints Guang Wei Zhang as executive director ]]> https://www.proactiveinvestors.co.uk/companies/news/39475/siburan-resources-appoints-guang-wei-zhang-as-executive-director--47143.html Siburan Resources (ASX: SBU) has appointed Guang Wei Zhang as an executive director following the completion of a $3 million placement in June to China’s Hunan Australia Mining.

Zhang is the second Hunan Australia Mining director to be appointed after Hao Ming Peng was appointed last week as part of the conditions of the subscription agreement.

His role will be to assist Siburan’s exploration team in advancing its exploration programs and developing its projects. 

Zhang, who has 30 years experience as a geologist, has served in senior positions with Chinese state-owned geological exploration bureaus, including Hunan Provincial Nuclear Industry Geological Exploration Bureau. 

Hunan Australia Mining is a wholly owned subsidiary of the Hunan Province Zhonghe Mining Industry Development Co, which is owned by a China State Government enterprise.

The company now holds a 19.9% stake in Siburan following the issue of 20.6 million shares at $0.15 each.

The partnership with Hunan could see Siburan fast track it Kirwans Tungsten Project in New Zealand.

The Kirwans project is highly prospective for tungsten and gold, with historical drilling intersections including 15 metres at 0.13% tungsten from 4 metres, 15 metres at 0.13% tungsten from 14 metres, and 5 metres at 0.15% tungsten from 33 metres.

Brent Butler, who has been a director of Siburan since its ASX listing, has stepped down. 


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 22 Aug 2012 01:50:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/39475/siburan-resources-appoints-guang-wei-zhang-as-executive-director--47143.html
<![CDATA[News - Siburan Resources appoints Hao Ming Peng as executive director ]]> https://www.proactiveinvestors.co.uk/companies/news/39312/siburan-resources-appoints-hao-ming-peng-as-executive-director--46954.html Siburan Resources (ASX: SBU) has appointed Hao Ming Peng as an executive director following the completion of a $3 million placement in June to China’s Hunan Australia Mining.

Peng will assist Siburan’s finance and administration department in a corporate and administrative capacity.

Hunan Australia Mining is a wholly owned subsidiary of the Hunan Province Zhonghe Mining Industry Development Co, which is owned by a China State Government enterprise.

The company now holds a 19.9% stake in Siburan following the issue of 20.6 million shares at $0.15 each.

The partnership with Hunan could see Siburan fast track it Kirwans Tungsten Project in New Zealand.

The Kirwans project is highly prospective for tungsten and gold, with historical drilling intersections including 15 metres at 0.13% tungsten from 4 metres, 15 metres at 0.13% tungsten from 14 metres, and 5 metres at 0.15% tungsten from 33 metres.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Fri, 17 Aug 2012 01:59:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/39312/siburan-resources-appoints-hao-ming-peng-as-executive-director--46954.html
<![CDATA[News - Siburan Resources enters Papua New Guinea with gold and copper quest ]]> https://www.proactiveinvestors.co.uk/companies/news/157113/siburan-resources-enters-papua-new-guinea-with-gold-and-copper-quest-26595.html Siburan Resources (ASX: SBU) is expanding its presence into a highly mineralised region of the world containing world scale gold and copper mines, Papua New Guinea.

The company and joint venture partner RH Resources have applied for three exploration licences in the region, one of which returned impressive samples of up to 94.6 grams per tonne (g/t) and 56g/t gold from previous pan concentrate sampling.

Papua New Guinea is ranked as the eleventh largest gold producer in the world and is also a large copper producer.

The region hosts several multi-million ounce gold deposits including Barrick Gold Corporation’s (NYSE: ABX, TSE: ABX) Porgera and Newcrest Mining’s (ASX: NCM) Lihir, along with the OK Tedi copper mine.


Rossel Island Project

The first exploration licence is about 512 square kilometres and covers all of Rossel Island in the Milne Bay Province.

Previous pan concentrate sampling indicates widespread gold in drainages across the island. Impressive samples of up to 94.6 grams per tonne (g/t) and 56g/t gold were returned.

A single drainage channel on the central north coast returned several samples of above 15g/t gold, while a distinct copper anomaly over the eastern end of the island has been outlined with associated zinc.

Copper and zinc were the main pathfinder elements for gold mineralisation on the adjacent Misima and Sudest Islands, where epithermal gold and silver mineralisation was the dominant style.

The Misima mine, which is now closed, produced 3.7 million ounces of gold and 18 million ounces of silver over its 14 year life.


Garaina Project

The Garaina Project, which covers 697 square kilometres, is located within the eastern Morobe Province.

The project area is believed to be prospective for a range of precious metals, including gold and platinum, and for base metals, copper, zinc and nickel.

In Garaina a compilation of public domain data indicates the presence of an extensive fault zone, which is expected to be a conduit for mineralisation within the project area.

Siburan expects the joint venture to be granted this licence in the latter half of this year.


Rigo Project

The final exploration licence, known as the Rigo project, covers 1,355 square kilometres, 70 kilometres to the southeast of Port Moresby.

Previous exploration has outlined anomalous copper zones which are prospective for porphyry style copper deposits.


Siburan-RH Resources JV

Under the joint venture partnership, RH Resources holds the majority 70% stake while Siburan holds the remaining 30%.

RH Resources is associated with Malaysia's Rimbunan Hijau Group, one of Malaysia’s largest multi-industry companies.

It has established a successful presence in Papua New Guinea for 22 years. The group was established in 1975 and has an estimated annual turnover of more than US$1 billion, according to the Malaysia-China Business Council.

RH Resources is a major shareholder in Siburan with a 12.01% share after taking a placement of 10 million shares as part of a capital raising.

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Mon, 19 Mar 2012 11:40:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/157113/siburan-resources-enters-papua-new-guinea-with-gold-and-copper-quest-26595.html
<![CDATA[News - Siburan Resources turns up heat drilling Mt Pleasant near gold discoveries ]]> https://www.proactiveinvestors.co.uk/companies/news/157112/siburan-resources-turns-up-heat-drilling-mt-pleasant-near-gold-discoveries-11702.html Perth-based Siburan Resources (ASX: SBU: Siburan) is embarking on a 5,000m RAB drilling programme at its Mt Pleasant gold project, located in a region with historical gold production of 6 million ounces and just 10km of the Paddington Mill.

The project comprises 15 prospecting licence covering approximately 18 km2.

What makes this program even more interesting is that the RAB drilling will test two new structural corridors defined by a recent gravity survey, along which there have been early stage gold prospects such as the Mt Pleasant Sill and Bent Tree Basalt, ripe for discovery of high grade gold deposits such as Quarters and Golden Kilometre.

The Mt Pleasant gold project has had 45,000m of drilling in the last 20 years of exploration. However, only 2% of the drilling is below 100m. Mt Pleasant contains a number of shallow high-grade drill intersections discovered by previous explorers in the 1990s, but the project has seen no systematic gold exploration since this time.

Based on the historical results to date, there would seem to exist strong potential of the discovery of a significant new gold deposit.

Managing director of Siburan Noel Ong said the drill programme will be testing new areas of the project which have had limited drilling to date.

He said this will provide the company with an opportunity to better understand the controls on gold mineralisation that exist in the project area.

“The RC/diamond drilling programme we completed in July, and the historical high grade intersections are most likely related to the structural corridors defined by the gravity survey. This 5,000m programme clearly shows that Siburan is a focussed exploration company intent on making the next new high grade discovery in the Kalgoorlie region,” said Mr Ong.

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Mon, 15 Nov 2010 10:48:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/157112/siburan-resources-turns-up-heat-drilling-mt-pleasant-near-gold-discoveries-11702.html
<![CDATA[News - Siburan Resources kicks off drilling at Mt Pleasant gold project ]]> https://www.proactiveinvestors.co.uk/companies/news/157111/siburan-resources-kicks-off-drilling-at-mt-pleasant-gold-project-8465.html Siburan Resources (ASX: SBU) has announced the commencement of its maiden 1000m Reverse Circulation (RC) and Diamond drilling campaign at its headline Mt Pleasant gold project near Kalgoorlie in Western Australia’s goldfields.

The program is designed to confirm the grade and continuity of high-grade gold mineralisation at the Fidelitas, Anomaly 3, Anomaly 5 and CredoWell prospects within the project area.

The Diamond drilling component will provide an insight into the orientation of the gold mineralisation, which has been absent in previous historic drilling.

Siburan expects the drilling programme to be completed within two to three weeks, and assay results will be released as they become available.

Noel Ong, managing director, said “we are excited to be in a position to commence our
drilling programmes at the Mt Pleasant Gold project so soon after the company’s ASX listing in May and we look forward to delivering the results from this maiden drill programme in the near future.”

Siburan listed on the Australian Securities Exchange on the 18th May 2010. The Company’s immediate focus is to explore and develop its strategic land package of gold and uranium projects in the Kalgoorlie region of WA.

The Mt Pleasant Gold project is located approximately 35km north west of Kalgoorlie and covers an area of approximately 16km2.

Previous explorers have outlined a number of gold prospects with very high grade gold intercepts (including; 6m @ 19.20g/t Au, 8m @ 10.5 g/t Au and 6m @ 10.1g/t Au), and the project is considered extremely prospective for the discovery of new high grade gold deposits.

The project has been subject to 45,000m of drilling over the past 20 years of exploration. However, only 2% of historic drilling is below 100m, and the project has not been tested at depth.

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Thu, 08 Jul 2010 05:45:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/157111/siburan-resources-kicks-off-drilling-at-mt-pleasant-gold-project-8465.html