Public Company News

Adriatic Metals has rattled the tin for US$28 million across two capital raises as it cashes up to fund an imminent definitive feasibility study on its Vares silver-lead-zinc project in Bosnia and Herzegovina. The company has entered binding agreements to raise US$20 million from a private placement of unsecured convertible debentures to Queen's Road Capital Investment and US$8 million from a share placement to the European Bank for Reconstruction and Development.

ASX-listed Proteomics International Laboratories has locked away $6m in cash via a heavily oversubscribed placement to UK and local institutions and other sophisticated investors to progress the marketing and development of its ‘PromarkerD’ predictive kidney disease test. Euroz-Hartleys Securities Ltd acted as sole lead manager for the placement to new and existing investors and Candour Advisory acted as Corporate Adviser.

ASX-listed Kalgoorlie gold producer, Horizon Minerals, has released an encouraging pre-feasibility study on its joint-ventured Richmond-Julia Creek vanadium project in north-west Queensland that envisages an initial 20-year mine life and development CAPEX of US$157.4 million. The JV also released maiden ore reserves for the project’s Lilyvale deposit of 459.2 million tonnes going 0.49 per cent vanadium pentoxide for 2.25 million contained tonnes.

ASX-listed gold explorer, Aruma Resources, is gearing up for a maiden drilling program at its Saltwater gold project about 100km south-west of Newman in WA’s resurgent Pilbara goldfields province. Despite the current resources exploration boom, the company has managed to lock in drilling contractors to carry out the first phase of RC drilling totalling up to 5,000m.

InteliCare has delivered a 29 per cent spike in quarterly sales as its predictive analytics software that monitors the daily movements of the sick and the elderly is deployed across the aged-care and healthcare sectors. The upwards swing in sales coincided with a lowering of costs which has delivered a 23 per cent increase in overall margin.

Kingwest Resources’ drilling campaign at Menzies in WA has continued to return a stream of spectacular drill intercepts including 1m at 107.00 g/t gold from 88m and an impressive 5m at 13.8 g/t gold that boasts a 2m long higher-grade section going an ounce to the tonne gold from 122m. The company has now expanded its program over the resurgent goldfield from 10,000m to 14,000m of drilling.

Altech Chemicals has agreed to sell a 25 per cent stake in its German subsidiary, Altech Industries Germany, for €5 million – or about A$8.3 million. Frankfurt Stock Exchange-listed Altech Advanced Materials will buy the AIG stake, delivering the ASX-listed parent company a useful cash harvest that will help advance its Malaysian high purity alumina play.

ASX-listed gold and base metals hopeful, White Cliff Minerals, has uncovered a handful of significant, near-surface drill intersections from a small RC program undertaken a decade ago at its historic Reedy South gold project 40km north of Cue in WA’s rejuvenated Murchison goldfields. One of the more notable assays was an eye-catching 20m going 4.13 grams per tonne gold from 2m including 3m at 11.33 g/t from 5m.

Image Resources' “MORE” program continues to pay dividends for the WA mineral sands producer with drilling at the Boonanarring Northern Extension Area pointing to high-grade mineralisation over more than 2,700m of strike. The drilling program has produced a raft of high-grade intercepts including 5m at an impressive 44.5 per cent heavy mineral sands from only 30m below surface.

Middle Island Resources has pulled out all stops to get its Sandstone gold project feasibility study on the street by early in the new year. The company has cleared its backlog of samples in the assay lab, paving the way for the completion of the resource estimates over its recent gold discoveries and open pit optimisation work with the goal being first gold by 2021.

TNT Mines has exploded onto the gold scene in Western Australia acquiring privateer Warriedar Mining along with its two strategic goldfields projects and its well-credentialed chairman, Alex Hewlett. Hewlett shot to fame on the back of his recent success with Spectrum Metals.

ASX-listed equatorial Africa lithium hopeful, AVZ Minerals, has finally made solid headway in its efforts to set up a Special Economic Zone agreement inside the Democratic Republic of the Congo. If ratified, the agreement would enshrine significant tax concessions to the company in relation to its 75 per cent owned Manono lithium and tin project in the DRC.