AuDAX Resources Ltd


AuDAX Resources Ltd and Newmont Australia Ltd have signed a Heads of Agreement for an option to form joint ventures over a portion of the Bronzewing South Exploration Licence. Newmont can earn the right to exercise an option for a 31% interest from AuDAX over a portion of the Bronzewing South licence, if it spends $10m within five years. The agreement will also provide AuDAX with $5m in working capital by way of a placement at a 20% premium to the 20 trading day average market closing price.

Herald Resources Ltd


Has reached a three year option to purchase agreement with prospector Kevin "Mick" Pavlinovich on a group of gold exploration and mining tenements at Kintore, north ofCoolgardie. The 276ha adjoins Heralds 100% owned ground of 449 ha.

Safe Effect Technologies Ltd


Has entered into a Memorandum of Understanding to acquire the controlling interest of up to 60% in a manufacturing and distribution facility in Thailand to be used for the manufacture of its "wet brake" products.

Woodside Petroleum Ltd


Joint venturers in the Geographe and Thylacine gas discoveries in Victoria's offshore Otway Basin have agreed commercial arrangements aimed at a joint development of the fields. Woodside, previously operator of both permits, will continue as operator of the new joint venture.

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