Sydney, Australia (ABN Newswire) - Australian tungsten developer Vital Metals Ltd.
(ASX:VML) advises that its strategic partner in the Watershed Tungsten Project in North Queensland, the Japan Oil, Gas and Metals National Corporation (JOGMEC), has formally commenced a tender process to secure a long-term partner for the project. Under its investment mandate, JOGMEC which holds a 30% interest in the Watershed Project, has undertaken to arrange the transfer of its interest to a Japanese company which will participate in and help fund the project's development.
Chinese health clinic owner Traditional Therapy Clinics Ltd (ASX:TTC) advises that it intends to use ASX BookBuild to facilitate a portion of its Initial Public Offering (IPO) on the Australian Exchange. QA Capital has been appointed Lead Manager to the IPO and AFS Capital Securities Ltd, a Market Participant of the ASX, has been appointed as the Technical Lead Manager and Broker for the IPO. Traditional Therapy Clinics is one of the largest chains of traditional therapeutic health and wellness clinics in China with more than 300 owned and franchised centres. The IPO is expected on 31 August 2015.
Hammer Resources Ltd (ASX:HMX) have identified two large high grade copper targets on their Kalman and Overlander North prospects in Queensland. The Kalman deposit is a structurally controlled copper-gold-molybdenum-rhenium deposit containing an estimated 165,000 tonnes of copper, 25 tonnes of molybdenum, 274,000 ounces of gold and 2 million ounces of rhenium. Drilling at Overlander have intersected a high grade zone including 75 metres at 1.33% Cu and 89 metres at 1.1% Cu.
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