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Bullabulling Gold, Eastern Platinum, Ferrexpo, Sunkar Resources news briefs

Contributed by Fox-Davies Capital

Bullabulling Gold has appointed Mark Braghieri as General Manager Development. Mark will assist the Company in the completion of the Bullabulling Gold Project Pre-Feasibility Study, before taking responsibility for the successful execution of the Definitive Feasibility Study, project construction and ultimately commissioning.

Eastern Platinum Limited has announced with deep regret the untimely passing of Mr. Zwelakhe Sisulu on the 4th October. Mr. Sisulu was the lead member of the Eastplats empowerment partnership as well as a director of Eastplats since 2009.

Ferrexpo has released its 3Q'12 production report. Overall this was a good quarter from their own production, but overall production was lower due to lower purchased of third party concentrate due to the lack of local availability as was the case in 2Q'12. The Company continued to increase production of 62% Fe pellets up 9.5% to 1,406.1Kt, whilst cutting production of 65% Fe pellets down 9% to 1,024.9Kt. This was achieved by cutting production from purchased/ processed material completely and a slight reduction in production from own material. Year to date pellet production from own ore is up 3.1% compared to the same period in 2011, whilst overall YTD pellet production is down -1.4% to 7,156 Kt compared to 7,257 Kt.

Sunkar Resources PLC announced that its wholly owned subsidiary, Temir Service LLP ("Temir"), has signed an earth moving contract with a general contractor that is building a new railway line in Western Kazakhstan. The value of the contract is KZT 1.2 billion, being approximately US$8.1M at current exchange rates. The Company expects to receive a prepayment amounting to 30% of the total contract value before the end of this year. As announced on the 28th September 2012 in the Company's Interim Report, the Company had, to that date, mined over 300,000 tonnes of phosphate ore, and was pursuing an earth moving contract for its idle equipment, in order to generate additional cashflow for the Company from its existing asset base. Due to the flat and shallow geological structure of the Company's phosphate deposit, Temir uses earth moving equipment and mining techniques similar to those used in laying foundation for major railroads and major highways in flat terrain. Temir holds the relevant state licenses for road construction and has experience of building roads on its contract territory. Accordingly, Temir has executed this contract for the construction of a rail track foundation on a stretch of the new railway line from Beineu to Tassai stations in Western Kazakhstan. The work is scheduled to be completed during Q2 2013.