Announcements

MGC Pharmaceuticals’ manufacturing facility in Slovenia will now commence production of pharmaceutical grade cannabis derived medicines after receiving a manufacturing licence. The Brett Mitchell chaired company will now begin full scale manufacturing of its epilepsy drug CannEpil for final, independent validation before exportation into Australasia and Europe. CannEpil is already approved for use in Australia.

Southern Gold has intersected narrow widths of high grade gold mineralisation during its maiden diamond scout drilling program at the Hampyeong gold project in southwest Korea. The best intersection was 0.95m @ 5.33g/t gold from 32.6m depth in quartz veins. Mineralisation was noted over a strike of 750 metres and the company said that there were potential extensions along strike and down-dip for the main ore zones.

Altech Chemicals has executed a Stage 1 construction works agreement with Germany’s SMS group for its high purity alumina plant in Johor, Malaysia. The agreement covers site works, the electrical sub-station structure and maintenance workshop. Altech is equity funding the works, which will be carried out in parallel with project financing in order to ensure a fast tracked route to market.

Neometals Ltd has received some very encouraging metallurgical results for potentially direct shipping ore concentrates from its Barrambie titanium vanadium iron project, located near Meekatharra in W.A. The processed ores produced recoveries exceeding 90% for titanium dioxide and also showed high recoveries for pig iron and vanadium. The results provide encouragement that a simple, conventional processing pathway can be developed for the high grade ores.

Infinity Lithium has reaffirmed its JV partnership with engineering firm Sacyr/Valoriza Mineria and aligned a strategy to accelerate technical work at its San Jose lithium project in Spain. The company is proposing to produce both lithium hydroxide and lithium carbonate on site at the mine, taking full advantage of the availability of affordable power in the area and re-writing the lithium playbook in the process.

Greenland Minerals and Energy is inching closer to commencing building its rare earths pilot plant in Greenland after major Chinese shareholder and technical partner, Shenghe, said it will shortly select the best flotation circuit for the project, clearing the way for pilot plant operations to begin. Greenland has already produced mineral concentrates with grades approaching 25% rare earth oxides.

Terrain Minerals has commenced drilling up to 10 holes targeting cobalt, nickel, chromium, copper and gold mineralisation at the Red Mulga project near Kalbarri, Western Australia. If successful, the drill campaign will be followed up by physical airborne and/or detailed ground electromagnetic surveys to better map out the targets. Red Mulga is considered prospective for the highly sought after Cobalt.

Artemis Resources has penetrated 300m of a felsic intrusive rock during a deep drilling program, 65km south of Karratha in the Pilbara. Such intrusions “invade” the in-situ rock sequences in a hot fluid state and cause significant cracking due to the high temperatures involved and the extreme pressures. The intrusions can be the source of economic ore deposits, if they originally contained dissolved metals.

Sky and Space Global has signed an MOU with major launch services provider China Great Wall Industry Corporation to potentially launch its nano-satellites. The two companies will begin formal negotiations for a launch contract once China Great Wall’s launch capabilities have been assessed to meet Sky and Space’s technical and operational launch requirements.

Security surveillance company Spectur has reported an 86% increase in revenues for the 2018 financial year to $2.48m on the back of a successful east coast expansion strategy. Spectur rents and sells wireless solar security cameras that have a number of unique abilities. Annualised recurring revenues, which the company considers as a buffer against the fixed costs of its operations, exceed $1.2m.

ASX listed Babylon Pump & Power has secured a contract valued at $1.1m from Adenco for the supply, installation and maintenance of new power generators to BHP Billiton’s Area C Surplus Water Pipeline Project in Western Australia. The order is an endorsement of the company’s strategy to add power generation to its suite of pumping services and products.

ASX listed biotech Phylogica will start animal testing of its cell penetrating Peptide’s ability to deliver proof of concept enzyme Cre drugs across cell walls into a diseased cell this month. The company has also started large scale screening of its drug library to find more peptides that can target the insides of specific cells and deliver drug cargoes with different properties.

Galena Mining’s targeting of the “apron zone” at its Abra project near Meekatharra will have shareholders pulses racing, after the company intercepted a 15.4m drill section grading 25.9% lead and 74g/t silver from 519m down-hole, including 7.7m at 41.7% lead and 116g/t silver from 525.7m. Drilling also intersected 8.0m @ 9.5g/t gold, 1.4% lead, 0.6% copper and 77g/t silver from 706m in the same hole.

Hot Chili has announced the discovery of multiple large copper exploration targets during a reconnaissance mapping and sampling program, near its San Antonio prospect area in Chile. Surface sampling produced results up to 6.5% copper, 1.97 g/t gold and 24.3g/t silver. The company also said an RC drilling program at San Antonio was progressing well, with assay results from priority holes containing visible copper sulphides due shortly.

The Dewrang target is now the highest priority target for Auroch Minerals’ upcoming drill campaign after a ground induced polarisation survey returned a chargeability anomaly twice the size of that of the Grainger zinc target. Exploration drilling targeting highly-prospective copper, zinc and gold at the Bonaventura Project in South Australia will start in the third quarter.

BlackEarth Minerals has reported outstanding mineralogical results for its Razafy graphite prospect in southern Madagascar, with a significant proportion of the samples being classified as “super jumbo” flake, which currently attract premium prices of nearly A$3,600 per tonne. The company also said that drilling at the Haja prospect, 2km south of Razafy, has intersected wide zones of graphitic schist, enhancing the Maniry project’s prospectivity.

Tech play Connected IO received combined cash receipts and accrued revenues of $998,000 in the June 2018 quarter with another $650,000 in purchase orders on the books yet to be invoiced. The company expects these results to scale up in the second half of 2018 on the back of its strategic relationships with major US customers.

Calima Energy says that it will benefit from more than $70b worth of proposed gas pipeline and supporting infrastructure projects that are either at an advanced stage of planning or currently underway in the revered Montney oil and gas formation in Canada. Calima will start drilling its 72,000 acres of land in the Montney this year.

Azumah Resources’ drilling program has provided further support for a possible feeder zone into the main Kunche deposit at its Wa gold project in Ghana which should enable the existing shallow pit design to be deepened. An update to both the Kunche and Wa Mineral Resource is expected in the third quarter of 2018.

Metalicity has identified two lithium pegmatites covering over 8km of strike at its Pilgangoora North project in the Pilbara. The exploration targets lie adjacent to a granite outcrop, which is interpreted to be the source of the area’s significant lithium mineralisation. The new targets are 9km along strike from the world class Pilgangoora spodumene deposits that hold 269.1 million tonnes grading almost 1.3% lithium oxide.

Vonex’s new customer sales online technology will enable channel partners to manage their customers’ telecommunications products efficiently online. This will include Vonex’s much vaunted cloud-hosted PABX office telephony systems. The new technology will be known as “Sign On Glass” and will play a major role on the company’s push into the channel partner market.

PharmAust’s wholly owned subsidiary, Epichem, is one of the first Australian companies to receive an international quality assurance accreditation coveted by manufacturers of pharmaceutical drugs. ISO17034:2016 covers the production of reference material used to check the quality of products or the calibration of instruments. Pharmaust is also rapidly progressing its promising Monepantel ant-cancer drug.

Myanmar Metals has increased the “indicated” status of its mineral resource at the Bawdwin polymetallic deposit in central Myanmar by 23%. The indicated part of the resource now sits at 24.8Mt @ 5.1% lead, 2.8% zinc, 0.2% copper and 134g/t silver. Myanmar is now focused on completing a Prefeasibility Study and is also planning to drill away from the main China lode.

Legend Mining’s aircore drilling program has better defined the extent of the four mineralised footprints at the Area D prospect at the company’s Rockford project in W.A’s coveted Fraser Range region. Legend is reviewing drilling data from the past eight months to determine its next steps and will carry out regional drilling in the project’s south.

A huge amount of data gathering during the drilling of Strike Energy’s Jaws-1 coal seam gas well has backed up the company’s bold punt on a deep coal seam gas well and left the management confident that it will become “a major productive area”. The company is hoping to book a gas reserve sometime soon after a successful flow test.

Image Resources has increased the forecast value for its Boonanarring mineral sands project in Western Australia by $38 million to $235 million on the back of higher zircon price forecasts by consulting company TZ Mineral International. The pre-tax rate of return is up to 125 per cent while payback is now expected in 13 months, down from 16 months.

Draig Resources’ metallurgical tests have resulted in gold recoveries of up to 98.8% using conventional gravity and cyanide processing on ore from the Tribune Lode discovery just 2km from the historical Bellevue gold mine in W.A. Draig will test deeper extension targets below the Bellevue mine and it expects to complete a resource estimate for the project in the third quarter of 2018.

Southern Gold has scored a bullseye with a new geological model for an area south of the historic Transfind pit, with first-pass drilling hitting gold in all 13 holes and producing a best result of 1m @ 133.67 g/t. The results have backed up hopes for shallow, very high-grade gold that could be trucked to a nearby plant and add to cashflow from the Cannon mine.

King River Copper has announced more high grade gold results from the Mt Remarkable gold project, 200km southwest of Kununurra in the Kimberley region of W.A. The company is targeting the Trudi Vein system with close spaced drilling to delineate multi-ounce, plunging ore shoots. Exploration drilling is underway east of the main Trudi lode too, at the intersection with the Grahame vein system.

Kopore Metals is starting a maiden 3,000m drilling program targeting the KM3 and GW3 targets at its Ghanzi West project in Botswana in search of regional scale copper silver anomalies. The project is located close to major development projects such as Cupric Canyon Capital’s Zone 5 resource and MOD Resources’ T3 copper project within the highly prospective but under-explored Kalahari copper belt.

Venus Metals has reported a significant increase in its near surface gold resource inventory at its Youanmi project to 10.1 million tonnes grading 1.65g/t gold for 533,000 ounces. When combined with the Youanmi Deeps underground resource, the global mineral resource at Youanmi now sits at just under 1.2 million ounces. The company is now looking at the viability of creating one “super pit” at the project.

Galena Mining has announced some outstanding results in a scoping study for its Abra lead project in WA. With an initial mine life of 11 years, a base case scenario produces a pre-tax, post-royalty net present value of $394 million and a 61 percent internal rate of return. When fully operational, Abra will produce 1 million tonnes annually and generate free cash flows of up to $110 million a year.