News: Jiangxi Centre Mining To Take Holding in GBM Resources

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Energy Metals Ltd (ASX:EME) announced that a maiden resource of 691 tonnes of Uranium at 556ppm has been obtained for the historical Karins deposit, located approximately 260km northwest of Alice Springs in Central Australia. The deposit lies on a tenement as part of a joint venture between Energy Metals Ltd (53.3%), Paladin Energy Ltd (ASX:PDN) (41.7%) & Southern Cross Exploration NL (ASX:SXX) (5%).

Australian resources company GBM Resources (ASX:GBZ) announced it has entered into a Share Acquisition Framework Agreement with state-owned enterprise Jiangxi Centre Mining Co Ltd (JCM), an entity owned by Jiangxi Provincial Bureau of Coal Geology, formalising an investment in GBM for strategic investment and partnership. Under the Framework Agreement it is proposed Jiangxi will subscribe for new shares, representing up to a 19.9% shareholding.

Vertical search website operator the Mitula Group (ASX:MUA) announced that its securities have listed on the Australian Securities Exchange. Mitula Group raised $26.4 million, with the Company to have a market capitalisation of $153.7 million, through a successful, three times oversubscribed IPO. The offer of 35.4 million fully paid ordinary shares, at an offer price of $0.75 per share, received a strong take-up from sophisticated and institutional investors.