Avoca Resources Ltd (AVO) reported a 56% increase in the high grade underground gold resource at its Chalice  gold mine near Kalgoorlie in Western Australia. The mid-tier gold producer said the upgraded resource includes, for the first time, an Indicated Resources classification for the previously described Olympus and Atlas Zones which total 799,000 tonnes @ 5.5 g/t gold for 140,000 ounces.

FerrAus Limited (FRS) said the Foreign Investment and Review Board has not objected to China Railway Materials Corporation’s proposed bid for a 12% stake in the Australian miner. The placement of shares remains the subject of certain conditions including FerrAus shareholder approval and Chinese regulatory approvals.