Public Company News

King River Resources is back in WA’s East Kimberley region, with the drill rods turning again as the company chases more high-grade gold veins across its Mt Remarkable land package 60km south of its mammoth Speewah Dome speciality metals project. Its best historical drill result came from the Trudi vein in 2018 where it hit 4m at over 3.5 ounces to the tonne.

ASX-listed gold explorer, Kairos Minerals, has detected some encouraging gold sniffs at its Croydon project 120km south-west of Port Hedland following an initial reconnaissance RC drilling program. The company drilled 29 wide-spaced RC holes totalling 5,586m including 20 holes for 3,815m at the greenfields Fuego prospect. Fuego falls under the Croydon project, which in turn forms part of the company’s overarching Pilbara gold projects “hub”.

K2fly is on the acquisition trail, this week picking up fellow “software as a service” specialist, SATEVA. The company is building a strategic position in the resource’s software space and this week’s acquisition looks like it may come with bottom line and client sharing synergies. Both companies already enjoy tier one client relationships with goliath sized companies and the opportunity to cross sell software looks real.

ASX-listed Lithium Australia has succeeded in securing critical protection for the intellectual property around its revolutionary lithium recovery technology after scoring a US patent for its proprietary extraction process. The US Patent and Trademark Office has approved an application for “SiLeach”, a low-energy process for the recovery of lithium from micas and clays.

Dampier Gold’s gamble to refocus its exploration onto the Zuleika Shear, north-west of Kalgoorlie in WA, looks to be paying off with the company hitting paydirt with recent aircore drilling over the Paradigm East prospect. Shallow drilling has hit high-grade gold mineralisation at the prospect returning an impressive 24m at 6.39 g/t gold including a stellar 4m at 34.74 g/t gold from only 28m down-hole.

Wiluna Mining Corporation has penned another page in its comeback story as management’s turnaround strategy appears to take hold. With high-grade, wide intersection gold strikes continuing to roll off the bit, headlined by a 37.52m intersection at 10.77g/t, the company is enjoying a renaissance built on a trifecta of steadily increasing cash flows, rising production and reduced operating costs.

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.