Plus, Rio’s deal with little Alloy is more evidence the multi-national has landed a big copper find in WA
Tolga Kumova reckons he is “bloody excited’’ about what might come from the drilling program that has just kicked off at Alderan Resources’ (ASX: AL8) Frisco copper project in Utah.
He’s got close to 15% of the stock after picking up another 600,000 shares earlier in the week. So he’s got a lot riding on the drill program, one which is targeting the big time potential of AL8’s flagship Accrington/Perseverance prospects at the Beaver County property.
One deal does not a rush make. But when South 32 this week lobbed a spectacularly generous bid for a promising US zinc explorer, the keenly awaited outbreak of takeover season in the mining sector came a step closer.
Asked last month by a frustrated investor if, "hand on heart", Royal Dutch Shell was more concerned about "the sustainability of the company or with the sustainability of the planet", chief executive Ben van Beurden acknowledged that climate change will be "the defining challenge" facing the oil industry for years to come (reports The Financial Times).
The Chinese authorities have orchestrated an arms-length rescue for the giant aviation and investment group HNA, heading off a fresh liquidity crunch for one of the world’s biggest debtors (reports London’s Daily Telegraph).
The move came as the People’s Bank of China (PBOC) announced that it was setting up a special “financial risk tracking unit” to monitor local and international conditions after a surge in the number of corporate defaults in the country.