Public Company News

Gold has stood the test of time proving it to be a stand-out performer in 2020 following the onset of COVID-19. March saw the price of the yellow metal fall to US$1,486 per ounce before rising by a stunning 40 per cent to hit an all-time US$2,067 per ounce high in August. What does 2021 hold for gold?

CZR Resources is set to cut costs for its developing Robe Mesa iron ore operation in WA’s Pilbara region after putting in place a memorandum of understanding with the owners of the port facilities at Onslow, which is located 180km to the west of the company’s developing iron ore project. The use of Onslow port drastically reduces the haulage distance from the mine gate to port.

AVZ Minerals will end 2020 on a high-note after locking in a 5-year offtake deal with China’s largest lithium compound producer, Ganfeng Lithium. The coup will see Ganfeng purchase up to 160,000 tonnes of spodumene concentrate per annum from AVZ’s world-class Manono lithium-tin project in the Democratic Republic of the Congo. The deal sees AVZ clear yet another hurdle on its development pathway as Manono edges ever closer to production.

Godolphin Resources has hit more gold at its Mt Aubrey gold project in NSW’s revered Lachlan Fold Belt, around 100km northeast of Orange. The best drill hole from its Phase 2 RC drill program hit multiple zones including 8m at 0.60 g/t gold from 56m, 2m at 1.22 g/t gold from 84m and 2m at 1.01 g/t gold from 96m.

Unlisted South Australian gold explorer, Barton Gold has easily raised $2.4 million in a private placement of convertible notes for working capital and corporate costs as it readies for a follow-up drilling program at its flagship Tarcoola gold project in SA’s revered Gawler Craton.

Infinity Lithium has taken a significant step forward in the development of its massive San Jose lithium project in Spain, with a key local Government body granting the company a “Investigation Permit Ampliación a Valdeflórez”. The permit grants the company legal title over the principal project tenure which has been set aside for its proposed milling and processing operations.

ASX-listed pharmaceutical innovator, PharmAust, will begin manufacturing Monepantel tablets for two important Phase 1 and Phase 2 human trials to study the drug’s impact on Motor Neuron Disease and certain cancers. It will be the first time PharmAust has used its Monepantel drug in tablet form to investigate its anti-cancer activity in humans.

Neometals has continued to build its inventory of resources at its Mt Edwards nickel project in WA, with a recent review and upgrade of the Zabel deposit estimating it to now contain some 351,000 tonnes of ore grading at 1.9 per cent nickel. The revision of the Zabel deposit brings the global resource across the project area to a solid 8.74 million tonnes at 1.7 per cent nickel.

Middle Island Resources has discovered what it says is “significant” copper oxide mineralisation at surface at the Crosswinds prospect within its greenfields Barkly copper-gold project in the NT’s East Tennant mineral district. The company’s share price touched 38.5¢ today, rising from its closing price of 30.5¢ yesterday, after it revealed cracking spot portable XRF-gun readings of between 24.8 per cent and 76.2 per cent copper at Crosswinds.

ASX-listed high purity alumina hopeful, Altech Chemicals has finalised the terms of a staggered €5 million sale of a 25 per cent interest in German subsidiary, Altech Industries Germany to Frankfurt Stock Exchange-listed Altech Advanced Materials. Perth-based Altech, who retains ownership of the other 75 per cent of AIG, says it has now received the initial cash payment of €250,000 under the terms of the agreed deal.

Oakdale Resources is already looking to expand its drilling program over the Gibraltar halloysite project in the SA, with the company seeking approval to extend the drilling pattern to the north of the prospect. In other news, drilling has also wrapped up in the US for Oakdale, with planning underway now for the 2021 field season at both the Lambarson and Douglas Canyon gold projects.

Victory Mines has nailed the projected ‘down-plunge’ extensions to its recently acquired Coogee gold project in WA, with the latest assays from its maiden RC drill campaign returning more high-grade drill intercepts. The best result was an exciting 10m intersection at 12.01 grams per tonne gold from 93m down-hole that included an even sweeter 3m going 35.87 g/t gold from 94m.