Public Company News

Buru Energy and its newest JV partner, ASX-listed mining and energy giant, Mineral Resources, have been awarded a new onshore oil and gas exploration license in WA’s Mid West to target traditional oil and gas plays in the area by targeting the deeper, under-explored rock formations of a similar geological age to Buru’s established targets to the north in the state’s Canning Basin.

AVZ Minerals has locked in yet another offtake partner relating to its proposed Manono hard-rock lithium and tin project in the Democratic Republic of the Congo. The Perth-based company says it has struck a binding three-year offtake contract for the sale of 600 tonnes of tin concentrate per annum from the Manono project to Kalon Resources, a wholly owned subsidiary of Hong Kong-headquartered Noble Group Holdings.

Aspiring WA gold producer, Horizon Minerals is set for a $7m boost through the sale of its Janet Ivy and Otto Bore mining royalty streams from WA gold mines. The proceeds, of which at least $4m will be cash, will add to Horizon’s existing cash reserves of $9.8 million as the company advances a feasibility study at its Boorara mining hub in the Goldfields.

Major Chinese construction outfit, China Railway Seventh Group has completed a visit to Lindian Resources’ bauxite assets in Guinea, West Africa, as agreed under a memorandum of understanding executed earlier this year. China Railway Seventh Group is a key player in Lindian’s infrastructure grand plan and bid to bring its Guinean bauxite projects on stream in the near term.

Bardoc Gold has released a cracking definitive feasibility study on its proposed Bardoc gold mining and processing operation approximately 40 kilometres north of Kalgoorlie. The company says the recent financial study shows the Bardoc gold mine spitting out an average of $113 million a year in free cash flows based on a total recovered gold target of 1.1 million ounces across an initial processing life of about eight years.

Anglo Australian Resources continues to pump out high-grade gold hits, as it charges towards a maiden resource over its Mandilla gold project in WA. Drilling at Mandilla East has returned a series of impressive results, with the latest batch including an impressive 18 metres at 4.74 grams per tonne gold from 54m and 29m at 1.81 g/t gold from 105m down-hole.

Venus Metals has racked up encouraging near-surface gold hits from a second round of RC drilling at the Range View prospect nearby the Bellchambers deposit as part of its Sandstone gold project in WA. Better intercepts from the latest drilling were 6m at 2.06 g/t gold from 20m including 1m at 6.14 g/t and 5m at 2.76 g/t from 45m including 1m at 6.23 g/t.

Things just got interesting for King River Resources at its immense Speewah Dome project in the Kimberley region of WA with its share price soaring 27 per cent on the back of news the company has produced high purity alumina at greater than 99.99 per cent purity. The company is currently looking to finish its ongoing feasibility study over the project.

Ardiden’s three hard-rock lithium projects in north-west Ontario, Canada may be in play as the company weighs up options to advance its lithium asset portfolio. One of the projects already hosts a resource of 4.8 million tonnes of ore grading 1.25 per cent lithium oxide. Management says it is evaluating strategic alternatives for the projects including retention, potential sales, spin-offs, joint ventures or business collaborations.

TNT Mines is preparing to drill test its key, high-grade uranium targets at the East Canyon project in Utah. The company is paying the requisite bonds to the US government and entering the final phase of the permitting process, with initial drilling to focus on the historical mine workings in the north of TNT’s tenure, including the targets at None Such and Bonanza.

ASX-listed junior explorer, Kingwest Resources has finalised the acquisition of its advanced, multi-deposit Menzies gold project about 130 kilometres north of Kalgoorlie and the greenfields Goongarrie gold project 90km north of Kalgoorlie. Horizon Minerals has now banked the last instalment of $1.625 million cash and 10.83 million Kingwest shares to complete the $8 million sale to Kingwest announced in 2019.

Neometals has highlighted the strong environmental credentials of its proprietary, patent-pending, vanadium recovery process flowsheet after an independently assessed, ISO-compliant, life cycle assessment showed potential to produce zero-carbon vanadium from the company's proposed Scandinavian vanadium recycling project. Neometals remains on track to deliver a ‘peer-reviewed’ PFS to recover vanadium from a vanadium-bearing steel making by-product, known as “slag”, by the end of June.