FINWIRES · TerminalLIVE
FINWIRES

Polymetals Resources Ramps Up Mining, Processing at New South Wales Silver-Zinc Mine, Shares Up 13%

By

Polymetals Resources (ASX:POL) said it produced 547,302 ounces of silver, 1.9 million tonnes of zinc, and 1,064 ounces of gold at the Endavour silver-zinc mine in New South Wales as it ramps up mining and processing performance, according to a Tuesday Australian bourse filing.

A total of 59,264 tonnes of Main Lode ore was mined and processed in January and February, with mill maintenance conducted over March.

It added that 18,384 dry metric tonnes of high-grade direct shipping ore from the Upper North Lode were mined during the March quarter, and the first 5,500-tonne parcel was readied for shipment in April.

Its shares climbed 13% in recent trading on Tuesday.

Related Articles

Asia

SEM Holdings Controlling Shareholder Sells 9% Stake in Business

SEM Holdings (HKG:9929) said its controlling shareholder Yao Capital sold a 9% stake in the business to HH RSV-MIM Holdings, according to a Hong Kong bourse filing Friday.Shares of the electrical and mechanical engineering services fell over 10% in morning trade Monday.Yao Capital disposed 180 million shares of the firm for $13.2 million, reducing its stake from 75% to 66%, SEM said.

HKG:9929
Asia

Market Chatter: Singapore to Likely Adjust Monetary Policy Amid Recession Fears

Singapore is likely to tighten its monetary policy at its April 14 review, amid global recession fears, according to a report by Bloomberg News on Monday.Citing a survey in which 15 out of 18 economists expected the Monetary Authority of Singapore to tighten its policy, the report said that the country's reliance on imported energy exposes it to the crisis in the Middle East.With fuel, transport and electricity costs rising, businesses are likely to face higher input prices, the report added.The MAS is also expected to update its inflation outlook, with the Ministry of Trade slated to release its latest report on economic performance during the first quarter of the year on Tuesday, the report noted.(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.)

^STI
Asia

Litian Pictures to Raise HK$10 Million via Share Placement

Litian Pictures (HKG:9958) said it plans to place up to 68 million new shares at HK$0.156 apiece under its general mandate, raising net proceeds of about HK$10.3 million, according to an April 10 Hong Kong bourse filing.Shares of the film production company were down nearly 4% in late morning trade on Monday.The placing shares represent about 15.7% of the company's existing issued share capital.The placing price represents a discount of about 15% to the stock's last close and nearly 16.8% to the five-day average price, the filing said.Litian Pictures said net proceeds will be used for general working capital.

HKG:9958