FINWIRES · TerminalLIVE
FINWIRES

Forrestania Resources Confirms Near-Term Gold Production Opportunity at Western Australia Deposit; Shares Up 3%

By

Forrestania Resources' (ASX:FRS) pre-feasibility study for the Johnson Range deposit in Western Australia confirmed a near-term gold production opportunity that can leverage the existing Edna May processing infrastructure, according to a Friday filing with the Australian bourse.

The site is estimated to generate AU$60.1 million in pre-tax, undiscounted free cash flow, at a gold price of AU$5,500 per ounce over a 12-month project life, the filing said.

The production target is fully underpinned by probable ore reserves of 308,000 tonnes at a 2.88 grams per tonne grade of gold for 28,500 ounces of gold, per the filing.

Shares rose 3% in morning trade Friday.

What else is happening in Asia?

Asia

Market Chatter: China Airlines Plans Codeshare Partnership with Britain's Virgin Atlantic

China Airlines (TPE:2610) plans to launch codeshare partnership with Britain's Virgin Atlantic Airways, according to a Focus Taiwan report on Wednesday, quoting the airlines' president Kevin Chen.Initially, China Airlines, and Virgin Atlantic will share flight codes on each other's services and will subsequently tap into complementary route networks to faciliate better flight services between Taiwan and the UK, Chen said.China Airlines' sahares were up over 1% in Thursday's trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TPE:2610
Asia

China Petrochemical Unit Wins Court Ruling Revoking Land Seizure

China Petrochemical Development (TPE:1314) unit Core Pacific Development won a ruling from the Taiwan High Court, that revoked a criminal seizure order on a plot of land in Taipei, Taiwan.The land had been subject to four seizure rulings issued by the Taipei District Court at the request of the Taipei District Prosecutors Office.The company said the matter has no financial or business impact.

TPE:1314
Asia

Lotus Pharmaceutical's Unit to Reduce Capital by $70 Million

Lotus Pharmaceutical's (TPE:1795) subsidiary, Lotus International, will reduce its capital by $70 million, according to a Wednesday filing with the Taiwan Exchange.The reduction involves the cancellation of 70 million shares as part of the group's capital utilization plan.Following the reduction, Lotus International's share capital will stand at $16.1 million.

TPE:1795