Li3 Energy Closes Acquisition of Next Lithium Assets at Big Smoky Valley, Nevada
Li3 Energy, Inc. (OTCBB: LIEG) (”Li3 Energy” or the “Company”) is pleased to announce it has closed its previously announced agreement to acquire the assets of Next Lithium Corp. (”Next Lithium”).
With the closing of the agreement, the Company has acquired a 100% interest in 170,000 acres of a strategically located property prospective for lithium brine, located in Big Smoky Valley near Tonopah, Nevada. The Property shares similar geology to Clayton Valley, which lies a few miles south and contains Rockwood Holdings’ Silver Peak Mine, one of the world’s leading producers of lithium hydroxide, and currently the only producing lithium mine in the United States of America. Read more
Is Australia Entering a China-Driven 20-Year Resources Boom? (Part 2 of 2), an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) — The late 1990s and early 2000s were very quiet times in the Australian resources industry. Commodity prices were low — so low that iron ore mining companies would simply shut down production when a problem occurred, rather than spend money on repairs and maintenance. There were no major LNG projects under way: Woodside’s (ASX: WPL) (Perth, Australia) fourth train in North West Australia had recently been completed, and no other LNG projects were on the horizon. About 2003, the situation began improving. Demand for commodities was on the rise, and prices began increasing. The major miners began considering the expansion of their production capacities, and significant projects were planned. By 2005, things were in full swing. BHP Billiton (NYSE:BHP) (Melbourne, Australia) had mapped out rapid-growth projects aimed at doubling the company’s production output. Read more
Allied Energy Begins Drilling Operations in the Historic “Giddings Field”
Allied Energy, Inc. (PINKSHEETS: AGGI) announced today that the Company, through its wholly owned subsidiary, Allied Operating Texas, LLC, has begun drilling its first horizontal location in the “Giddings Field Area” of East Texas.
The proposed horizontal location is a direct PUD, Proved Undeveloped, offset location to the Apache Corporation Butaud #1 Well located in Grimes County, Texas that was completed in March 2009 and tested at 4,833 MCFD (thousand cubic feet per day) of gas and 30 BC (barrels of condensate/oil) as reported to the Texas Railroad Commission. As per it’s production records, the Butaud #1 continues to produce from a single lateral at an estimated and reported daily rate approaching ~ 2,200 MCFD of gas and 25 BC.
The proposed plans for an initial horizontal test well are to drill a long length single lateral and/or two (2) opposing horizontal laterals. Although risks do exist and the Company can make no assurances as it relates to production or reserves, this long length single lateral and/or dual-lateral strategy could dramatically enhance reserve and production potential for this location. Read more
Iran wants big changes to nuclear fuel deal
Iran wants major amendments within the framework of a U.N. nuclear fuel deal which it broadly accepts, state media said, a move that could unravel the plan and expose Tehran to the threat of harsher sanctions.The European Union’s foreign policy chief said on Tuesday there was no need to rework the U.N. draft and he and France’s foreign minister suggested Tehran would rekindle demands for tougher international sanctions if it tried to undo the plan. Among the central planks of the plan opposed by Iran, but requested by the West to cut the risk of an Iranian atom bomb, was for it to send most of its low-enriched uranium reserve abroad for processing all in one go, state television said. Read more
China considers new law to protect oil and gas pipelines
Chinese legislators are discussing a draft law on the protection of oil and gas pipelines, which, they say, are facing growing problems due to rapid urbanization and the expansion of pipeline networks. Those who steal from pipelines could face heavy fines of up to 10 times the value of the stolen oil or gas, according to the draft law tabled with the country’s top legislature on Tuesday. Read more
Militants group Bagong Alyansang Makabayan urge boycott of oil firms over prices
Militant group Bagong Alyansang Makabayan on Tuesday called on the public to boycott oil firms that would refuse to bring down oil prices, stressing that they will remain profitable even with the imposition of a price ceiling.”The boycott should be a sign of protest against oil profiteering. We find hard to believe the threats by oil companies that there will be an oil shortage because they are allegedly losing revenues,” said Bayan secretary general Renato Reyes Jr. in a statement. “Oil products over the past month have remained more expensive than they should be. Read more
