Announcements

Legend Mining’s search for another Nova-Bollinger style deposit in the Fraser Range has entered a new stage with the start of a 50-hole aircore drilling program. The wide-spaced program will add to results from a technologically advanced round of electromagnetic surveys and help define targets for the next stage of diamond drilling.

Lithium Australia’s unquenchable appetite for Lithium feedstock is taking it into two virgin areas with hopes of opening up entirely new Lithium provinces.  The company has acquired tenements in WA’s Gascoyne region along strike from the Nardoo pegmatite district and permits inland from Cairns where there is no history of Lithium exploration but plenty of exciting indicators exist.

ASX listed Connected IO continues to forge ahead in the multi-trillion dollar internet of things sector, securing a purchase order from US electronics giant Arrow Electronics for its cutting-edge wireless modem devices.  The order will see the company’s products available through Arrow’s 465 offices across 90 countries.

ASX listed Online screening and verification company CVCheck has posted record revenue for the fiscal third quarter driven by sustained user growth and a continued surge in corporate customers. The company expects the strong run of revenue growth to continue in Q4 FY17 and is predicting to be at breakeven by year end.

Pilbara Minerals’ giant Pilgangoora Lithium deposit just keeps getting better, with 10 tonnes of bulk samples from the Central pit area returning an average grade of more than 2% Lithium. The news of exceptional in-situ grades comes as Pilbara finalises a direct shipping offtake agreement and a mining proposal for a 2Mtpa development.

Blackham Resources have identified two new high-grade zones at the Golden Age mine at the Matilda Gold project, with intercepts ranging up to 118 g/t gold. The discoveries are set to provide a welcome boost to the underground mine plan and follow a return to full open pit operations after delays caused by unseasonal wet weather.

Northern Minerals will build Australia’s first heavy rare earths mine at Browns Range in WA after board approval this week for the $56 million development. The mine will be a pilot project operating at about 10% of the scale of a proposed full scale development and will focus on production of “Dysprosium”, a key component of permanent magnets used in large electric motors.

Auroch Minerals have boosted their cash balance to $8m after banking another $1.3m in delayed funds from the sale of their Mozambique project to Xtract Resources last year. With only 85m shares on issue and a burgeoning bank balance, Auroch are something of a rarity in the small cap exploration space. 

Whilst many other medical marijuana hopefuls are still talking up their opportunities in the industry, Perth listed MGC Pharmaceuticals have produced their first cannabinoid extracts at the company’s brand new European extraction facility. The milestone means MGC remains on track for commercial production to commence in the third quarter of this year.

Lithium Australia have hit back at takeover target Lepidico with a new expert report that raises concerns about the independent expert report prepared as part of Lepidico’s defence. The new report by Leadenhall Corporate Advisory is critical of the methodology used by Lepidico’s independent expert and concluded that the report should have found the bid was fair and reasonable.

The extraordinary deal-making skills of Neometals have been put to work once again to secure a $125 million buyout of the company’s 13.8% stake in the Mt Marion Lithium project. The remarkable end to Neometals’ involvement in Mt Marion means the project will have generated a staggering $213 million for the company from a total investment of just $3 million.

Perth listed Sky & Space Global’s dreams of heading into space are about to be realized, with confirmation of a late-May launch date for the company’s first three telecommunications “nano-satellites”. The company this week reported that the Indian Government space agency had confirmed the launch of the satellites next month, paving the way for maiden revenues to flow within months.

ASX-listed Connected IO continues to blaze a trail in the burgeoning “internet of things” global market with the launch of a new wireless modem device designed to take advantage of the latest low latency broadband cellular network known as “Cat 1”. Cat 1 has been built by major mobile service companies around the world to provide an optimized, cost effective network specifically for the internet of things.

Lithium Australia’s multiple tentacles have found their way into Germany with due diligence now underway on a proposed European joint venture and project farm-in. Interestingly, the project has a Tin recourse however Lithium Australia believe it might also be hosting a major Lithium discovery. 

Northern Minerals look set to get Australia’s first heavy rare earths mine across the line after securing an offtake agreement for all production in the first three years. The sales agreement, with a subsidiary of one of China’s big rare earths companies, includes a $10 million pre-payment and has dramatically boosted the prospects of a development decision.

Medicinal cannabis player MGC Pharmaceuticals remains on schedule for its first commercial production of medical marijuana, with the Perth-based company's European cannabis extraction facility completing construction. MGC expects the initial commercial cannabinoid extraction to commence in Q3. 

Lithium Australia have kicked off a much-anticipated drill program in Mexico with hopes of a discovery to rival the massive neighbouring Sonora deposit, which already has an off-take agreement with Tesla. Drilling began this week at the Agua Fria prospect where recent work identified a thick bed of lithium clays over a strike length of 5km and returned a number of very high assays. 

Legend Mining’s drawn-out settlement of the 2014 sale of a magnetite project in Cameroon is edging closer towards a happy ending. The project buyer, Jindal Steel and Power, has kept faith by making another interest payment this week. Legend reaffirmed that it believes Jindal is still committed to finalising a new payment arrangement for the final $3 million in the first half of the year.

ASX-listed Stargroup delivered a staggering 13th consecutive quarter of record revenue growth in the March quarter. The company is expecting further revenue increases in calendar year 2017 helped by its impending acquisition of Automatic teller machine service provider Indue.

Perth based Connected IO has added another blue-chip client to its expanding US customer base securing a $100,000 purchase order from a leading US wireless solutions provider. The order strengthens the company's growing revenues and adds to its already impressive customer base that includes Coca-Cola, US telcos Verizon and AT&T, Vodafone and The Red Cross.

ASX-listed Alterra has continued its ambitious push into the Western Australian dairy industry with the purchase of a 1,640 hectare property in Dandaragan Shire. The dairy industry upstart and carbon plantation manager is confident the property will suit an innovative dairy farming system known as "System 5".

In an era where major resource developments can take decades to get into production, Pilbara Minerals are defying all odds at their world-class Pilgangoora Lithium project near Port Hedland. The company announced this week they had cleared a key environmental hurdle and were now awaiting just one more bureaucratic sign-off before full-scale construction begins.

Hammer Metals have bagged more exciting copper-gold real estate in the Mt Isa region with the completion of stage one of an acquisition from Chinalco Yunnan Copper Resources. The deal includes an already defined resource with 143,000 tonnes of copper and a host of other opportunities for Hammer to add value by applying its own brand of exploration.

Sky and Space Global’s proposed cutting edge miniature satellite network has received further commercial validation with the company’s wholesale partner securing customers interested in accessing bandwidth from the first three units when they are launched into space. Sky and Space estimates potential initial revenues from the new contracts at circa US$500,000 per year.

Terrain Minerals’ faith in their 100%-owned Great Western gold deposit, 68km north of Leonora has been rewarded by a 58% lift in the estimated open-pitable contained gold resource at the project. The company is now considering a host of options to monetize the project which is surrounded by numerous operating mines. 

They say if you want to go hunting for giants you need to go to the land of the giants. Auroch Minerals appear to have done just that after securing a farm in agreement to earn up to 75% of the Alcoutim Copper, Zinc, Lead, Gold and Silver Project in Portugal. It is just 20km from the massive Neves Corvo mine that has proved up 8mt of copper and zinc concentrates over time. 

Lithium Australia have lifted their stake in the Electra Lithium clay project in Mexico to 49% as they kick off a major drilling campaign. The Electra project is on the southern boundary of a giant Lithium clays project that has already signed a major off-take agreement with revered electric car manufacturer Tesla. 

Blackham Resources are off to a flying start with their latest round of drilling at the Wiluna gold project, boosting confidence in the potential to expand their production outlook from 100,000 ounces a year to 200,000 ounces a year. The latest drilling has confirmed significant new mineralized zones. 

Technology company Weebit-Nano continues to make big strides in the development of its game changing “Re-Ram” memory storage technology with the announcement of successful electrical testing.  Weebit believes Re-RAM has the capacity to revolutionise memory storage due it being faster, cheaper and requiring less energy than current flash storage methods.

Connected IO has secured a AUD$270,000 purchase order for its wireless “internet of things” devices from a US security firm. The latest order further bolsters its customer base that includes Coca-Cola, US telcos Verizon and AT&T, Vodafone, The Red Cross, Cisco, and some US Police departments. The company recently posted 126% revenue growth for the December quarter. 

Lithium Australia’s graphite spin-off, BlackEarth Minerals, is shaping up for an impressive ASX debut after the addition of a couple of highly prospective exploration projects in Madagascar. The new properties add to a bulging portfolio of graphite projects in Australia with the company set to float on the ASX before the end of June.

Northern Minerals will raise another $10m for their Browns Range heavy rare earths pilot project in a fully underwritten equity placement. It is the second time the George Bauk-led company has raised funds at above-market levels, highlighting the strong level of investor interest in Australia’s first heavy rare earths project.