FINWIRES · TerminalLIVE
FINWIRES

Chilwa Minerals Confirms Niobium Mineralization at Malawi License, Shares Fall 8%

By

Chilwa Minerals (ASX:CHW) said portable X-ray fluorescence results for a drill hole at its Lake Chilwa license in Malawi indicated niobium mineralization increases from 240 meters downhole, with the alkaline syenite reporting 0.165% grade of niobium pentoxide over 16.5 meters from 240 meters downhole to the end of the hole at 401.5 meters, according to a Friday Australian bourse filing.

It encountered 0.228% grade of niobium pentoxide over 22 meters from 349.5 meters downhole.

It noted that the X-ray fluorescence values are indicative only and are from pressed pulverized powder pulp following sample preparation at its in-house sample prep facility in Malawi.

Its shares fell 8% in recent trading on Friday.

Related Articles

Asia

AusQuest Completes Maiden Reverse Circulation Drilling Program at Peru Copper-Gold Project; Shares Up 13%

AusQuest (ASX:AQD) said it completed a maiden reverse circulation drilling program, consisting of 12 drill holes for 3,733 meters, at its Playa Kali copper-gold project in Peru, according to a Friday Australian bourse filing.The drill rig was moved to the Lantana porphyry copper prospect to test a large-scale high-grade target, the filing said.The company's shares rose past 13% in recent trading on Friday.

$ASX:AQD
Asia

China Energy Engineering Consortium Bags $1.69 Billion Contract for Gas Power Station in Abu Dhabi

A consortium of three subsidiaries of China Energy Engineering (HKG:3996, SHA:601868) has secured a contract worth $1.69 billion for the Taweelah C combined cycle gas power station in Abu Dhabi, according to a Thursday filing to the bourses.The consortium, including China Energy International Group Co., China Energy Engineering Group Guangdong Power Engineering, and China Energy Engineering Group Guangdong Electric Power Design Institute, has signed the pact with the project company established by Al Jomaih Energy and Water Company and Sembcorp Taweelah C.The project involves building a 2,600MW dual-fuel gas power plant, covering design, equipment supply, construction, commissioning, warranty, and maintenance services.It is expected to be completed in 32 months.

$HKG:3996$SHA:601868
Asia

Findi Names New Chairman, Begins Strategic Review of Operating Business Units

Findi (ASX:FND) said non-executive director Stephen Benton will assume the role of non-executive chairman, according to a Friday Australian bourse filing.Nicholas Smedley will revert to a non-executive director role and retain the chairmanship of Transaction Solutions International, focusing on executing against plans for the initial public offering (IPO) of the Indian business.In the same filing, the company said the board engaged external advisers to support a strategic review of its three operating business units. The move is intended to optimize capital allocation across the group, identify additional operating synergies, and formalize the pathway toward securing a Payments Bank license in India and progressing the planned IPO.Findi's shares rose 1% in recent trading on Friday.

$ASX:FND