DMC Mining Limited

Equatorial Resources Limited (ASX:EQX) is delighted to announce that 3D and 2D modelling of the detailed high resolution aeromagnetic data collected over the Company's 100% owned Mayoko-Moussondji Iron Project ("the Project") completed by independent consultants Resource Potentials Pty Ltd has estimated a global exploration target of between 2.3 and 3.9 billion tonnes1 of iron mineralisation.

The Australian market retreated yesterday, giving up most of the gains from previous trading session, while China signaled that the government there would not be a significant rise in the Chinese yuan in a short run. At the close, The benchmark S&P/ASX200 index ended 54.3 points, or 1.2 per cent lower, to 4558.3, while the broader All Ordinaries index was down 51.4 points, or 1.1 per cent, at 4581.3.

Takeover target DMC Mining Limited (ASX:DMM) on Monday received a sweetened offer from Cape Lambert Resources Limited (ASX:CFE) at the same level as the bid by China's Meijin Energy Group.

Australian shares extended their losses today as the debt issues in Euro zone continued to perplex the global stock markets. The Australian stocks joined the slump in Asian region this morning with a 1.4 per cent fall in S&P/ASX200 index at opening. Japan's Nikkei 225 shed more than 3 per cent in early trade, after the market closed for public holiday for three days.