Asian Activities Report for June 15, 2011: Crusader Resources (ASX:CAS) Increases Borborema Gold Resources To 1.86 Moz

Sydney, June 15, 2011 AEST (ABN Newswire) - The S&P/ASX 200 fluctuated this morning, lost 0.11% to 4580 in midday. Nikkei 225 opened higher, up 0.14% to 9,561.30. Hang Seng Index slipped 0.15% to 22461.23, while Shanghai Composite was down 0.24% to 2723.43.

Companies

Crusader Resources Limited (ASX:CAS) said today that current drilling program at Borborema Gold Project in Brazil has increased the project's Mineral Resource estimate to 1.86 Moz. The new Mineral Resource remains open in all directions and the drilling program will continue to target and upgrade the gold resource.

Wasabi Energy (ASX:WAS) has signed a term sheet to jointly develop, own and operate the Taufkirchen Geothermal Power Plant in Southern Germany. The 4,500kW plant will use Wasabi's Kalina Cycle(R) power cycle technology, and will ensure the technology is well positioned as the preferred technical solution for the geothermal sector in Germany.

Groote Resources Limited (ASX:GOT) has completed the scoping study of the operational, technical and economic parameters of extracting manganese from seabed locations within the Company's tenements. The study supported the contention that the Company's tenements are considered highly prospective for the extraction of manganese. The Company's immediate priority is to establish a JORC-compliant resource for the Project and progress metallurgical test work.

Coalworks Limited (ASX:CWK) has received its Preliminary Feasibility Study update for the Vickery South Coal Mine, coal handling and preparation plant and mine infrastructure. The study suggests a 16 year mine life producing a total of 30Mt semi-soft coking coal and 6.3Mt thermal coal at a 3Mtpa run-of-mine mining rate.

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