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Papuan Precious Metals (CVE:PAU) announced Friday that before final results can be determined, further analysis is required from hole KUD007, which was drilled in the La’mau’sing Mountain zone of its Kuliuta copper-gold prospect, due to a discrepancy between the initial results obtained from the core and the visual estimates of the sample.

The Kuliuta prospect is part of the New Hanover project, which comprises two 100%-owned exploration licenses covering over 591 square kilometres in New Hanover, west of the provincial capital Kavieng in New Ireland Province, Papua New Guinea.

Assays from the hole on the prospect did not co-relate with the visual estimates, the company said, and discussions are now underway with the company’s assay laboratory in Australia to determine an alternative method of analysis to ensure reliable and accurate data.

Papuan explained that copper is malleable, and can smear on and adhere to rock crushing and grinding surfaces during the laboratory preparation of samples, resulting in either under- or over-estimation of copper grades, or cross sample contamination.

Analysis for native copper in drill samples forwarded to the lab has therefore proved to be difficult, the company said.
Hole KUD007 was drilled to test a conductivity anomaly that was identified by a 3-D Induced Polarization survey on the property earlier this year.

After further evaluation, it was determined that hole KUD007 intersected a 161 metre wide native copper zone, followed by a deeper 43 metre wide chalcopyrite, or sulphide, zone extending from 273 metres to the end of the hole.

Papuan has commenced a investigation of the copper intersection in hole KUD007 through the drilling of four offset holes. Holes KUD007, KUD008, and KUD009 have been completed, with hole KUD010 in progress.

All four holes have intersected a native copper zone. Hole KUD010 is currently drilling down through the copper-style porphyry mineralization intersected at 273 metres in the initial hole.

The company said it is likely that extensive follow-up drilling may be required to further assess the La’mau’sing copper zone.

Proactiveinvestors Australia website

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Yesterday Minsk hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Mikhail Myasnikovich, Prime Minister of the Republic of Belarus. The parties continued…



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Simon Charbonneau caught 10 passes for 133 yards and three touchdowns Friday, including the game winning score with 28 seconds left, as the No. 5 Sherbrooke Vert et Or defeated the Concordia Stingers 33-26 in Canadian university football play. Jeremi Doyon-Roch hooked up with Charbonneau from three yards out late in the fourth after Concordia’s [...]
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Peter Norfolk has sympathy for the position of Andy Murray and Rafael Nadal in the debate over the tennis schedule but believes a strike would be going too far. The players have scheduled a meeting at the Masters tournament in Shanghai next month where they will discuss their demands and what to do if they [...]
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Enlarge Pete Souza/White House President Obama meets with advisers at an economic meeting in the Roosevelt Room of the White House, March 15, 2009. Participants include National Economic Council Director Larry Summers, Treasury Secretary Timothy Geithner, Council of Economic Advisers Chairwoman Christina Romer, senior adviser David Axelrod, Chief of Staff Rahm Emanuel and adviser Gene [...]
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Clean technology firm Wasabi Energy (LON:WAS, ASX:WAS) has established a Turkish subsidiary named Imparator Enerji to take advantage of “enormous opportunities” in Turkey’s power generation sector.

As the licensee for Wasabi’s Kalina Cycle power generation technology in Turkey, Imparator Enerji will apply this technology to create greater value from traditionally low temperature heat sources, particularly in the geothermal and industrial energy efficiency sectors.

Wasabi noted that while Turkey is a major energy corridor delivering oil and gas from the East to major European markets, its own indigenous sources of coal, gas and oil are relatively small.

Meanwhile, Turkey’s energy demand is on the rise as its economy, currently the 16th largest in the world, is among the fastest growing in the world with GDP growth having reached 8.9 percent last year.

According to its own forecasts, Turkey will need an additional 30,000 megawatts of power generation capacity by 2020. In order to meet its rapidly growing energy demand, Turkey is set to invest US0 billion in power generation, transmission and distribution sectors in the next nine years.

Turkey holds the most significant geothermal resources in Europe with estimates of power generation capacity ranging from 2,000 – 4,500 MW and has around 100 MW of operating geothermal capacity.

However, the recently announced geothermal tariff of US.105/kWh has stimulated the industry with more than 100 MW of power plant contracts being awarded in the year to date.

Wasabi Energy said that many of the markets it is targeting in Turkey including cement steel and petrochemicals are all major industries in Turkey and provide immediate opportunities for Imparator Enerji.

According to Wasabi, preliminary evaluations and thermodynamic modelling conducted by Imparator Enerji have confirmed Kalina Cycle’s performance advantages over alternative technologies available in the Turkish market.

Imparator Enerji has already held commercial negotiations with a number of large energy focused companies in Turkey interested in evaluating and potentially adopting the Kalina Cycle. The company is also evaluating a number of geothermal projects which may result in the co-development of Kalina Cycle power plants in Turkey.

“The establishment of Imparator Enerji…represents our first major foray into the utility scale power generation sector as an owner and technology provider,” said executive chairman of Wasabi Energy John Byrne.

“We see similar opportunities to develop Kalina Cycle project development companies in other key markets, particularly in Central Asia, North America and South Africa.”

Proactiveinvestors Australia website

Guests Sudir Venkatesh, professor of Sociology, Columbia UniversityArthur Berman, executive director, Twin Cities RiseBen Mangan, CEO, EARN 2010 Census data shows a record 46 million Americans now live in poverty. For each person below the poverty line, there is a unique story of how they got there. Regaining your financial footing, many experts argue, requires [...]
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The All Ordinaries continued it’s inverse relationship with international equity indices today, with the Aussie benchmark index shedding one and a half per cent to 4163 – ignoring the 76 point lead set by the Dow Jones Friday night our time.

There was however still some good action in the markets.

On the day, the best Rippers, or biggest market percentage spikers was headed by Souls Private Equity (ASX: SOE) with a massive 131% leap after the company was the recipient of a nonbinding and indicative proposal from Washington H Soul Pattinson and Co (ASX: SOL).

The significance of the announcement is it could lead to a formal offer being made to acquire all the outstanding shares in Souls Private Equity not already held by Washington H Soul Pattinson through a scheme of arrangement.

Other Rippers included Arturus Capital (ASX: AKW) and Dulhunty Power (ASX: DUL) which both spiked 30%, followed by Prana Biotechnology (ASX: PBT) which added 24% after announcing an update on a mechanism to treat Alzheimer’s Disease, with Australian Pacific Coal (ASX: AQC) rallying 22%.

When it comes to the Dippers, or biggest percentage fallers, there was a standout with New Guinea Energy (ASX: NGE) plunging 31% after announcing preliminary drilling results from Exploration Well PPL 269 – where an unexpected Elevala sand was encountered with elevated resistivities.

Topping the most actively traded stocks was Empire Oil & Gas (ASX: EGO) with 47 million shares changing hands although there was no major news to explain the investor interest, just the announcement of the appointment of Jeffrey MacDonald as a director.

The other most actively traded stocks included Challenger (ASX: CGF) with 46 million, with rare earths play Lynas Corporation (ASX: LYC) 30 million, Focus Minerals (ASX: FML) 30 million and Sultan Corporation (ASX: SSC) 29 million.

The most parcels of stock traded was the usual gang of blue chips, with Commonwealth Bank (ASX: CBA) 17,600, followed by BHP Billiton (ASX: BHP) 13,900, Westpac (ASX: WBC) 12,700, Woodside Petroleum (ASX: WPL) 12,400 and National Australia Bank (ASX: NAB) 12,000.

Proactiveinvestors Australia website