Public Company News

Troy Resources has recorded a three-fold increase in mineral reserves at the company’s Hicks-4 deposit that sits about 2km away from Troy’s operating Karouni gold mine in Guyana, South America. The company has also commenced trial mining at the nearby Ohio Creek discovery, just one of its regional deposits that have proximity to its existing plant. Troy said its operations remain unaffected by the COVID-19 pandemic.

Buru Energy’s executive chairman, Eric Streitberg, has taken a 55 per cent pay haircut and its board fees have been reduced by 40 per cent to help it ride out the current global Coronavirus financial storm. Buru’s strong balance sheet leaves it well placed to weather the storm, despite weak oil prices, with ongoing production at its Ungani oil field set to deliver further oil sales in mid-May.

Terrain Minerals is set to kick off its field campaign at the Wild-viper gold project near Leonora. It is looking to conduct a major first pass geochemical soil sampling program and will collect approximately 400 to 500 samples across three separate targets, which the company anticipates will throw up a grab bag of drill ready targets. Terrain previously picked up a rock sample grading 4.67 g/t gold at Wild-viper.

Image Resources says it has managed to shoulder the current Coronavirus inspired pandemic as it continues to operate its Boonanarring mineral sands project in WA with only marginal impacts on regular day-to-day activities. The Patrick Mutz run company’s mine site is located 80km north of Perth where production for January 2020 was a record 35,300 tonnes of heavy mineral concentrate.

Neometals has tabled some interesting pathfinder results from a significant air core drilling campaign across its Mt Edwards nickel project near Widgemooltha in WA. The program was designed to vector in on potential sulphide mineralisation across five of the company’s mining tenements and two broad target areas. Significant intercepts include 7m grading 0.63% nickel from 47m and 13m grading 0.46% nickel from 6m down hole.

Adriatic Metals has identified a number of new multi-metal exploration drill targets after modelling historical gravity data over its Bosnian license that includes its Rupice and Jurasevac-Brestic prospects. Some of the geophysical anomalies are adjacent to known discoveries and are ready for immediate drilling with a total of 29 drill pads approved for action to further define the extraordinary multi-metal deposits within its project area.

TSX-listed conglomerate gold explorer, Novo Resources, has inked an important heritage agreement with the Yindjibarndi Aboriginal Corporation that covers a total of 1,492 square kilometres of country across a substantial portion of the company’s Pilbara gold exploration play. The agreement facilitates and potentially expedites the process of exploration.

Aurora Labs has executed on a strategy to refresh its board in line with its vision to get set for the commercialisation of its 3D printing technology. Perth corporate finance player, Grant Mooney of Mooney & Partners corporate advisory is now in the Chair and COO Peter Snowsill will step up into the interim CEO role as founder and 3D printing specialist, Dave Budge moves into the role of Chief Technical Officer.

Podium Minerals’ non-executive chairman and major shareholder, Clayton Dodd has stepped up into the executive chair role in a move that is part of a plan to cut corporate overheads by $300,000 per annum whilst continuing to leverage the expertise of the existing management team. Podium’s CEO, Tom Stynes will step down but will continue to manage the company operations and Grant ‘Rocky’ Osborne has resigned as a director in support of the cuts.

Coziron Resources will soon have a diamond rig operating at its Croydon Top Camp project in WA’s Pilbara region after the company’s maiden drill program hit some notable results recently, including 8m grading 10.2 g/t gold. The maiden program was drilled on wide-spaced sections and the company says the new drilling will provide valuable structural information on the orientation of its emerging discovery.

Coronavirus willing, Hammer Metals will have the rods turning soon at its Mt Isa project in Queensland after being awarded Government grants amounting to $283,000. The windfall will fund a diamond drilling program at the Koppany copper-rare earths project and two magneto telluric surveys, one at the Kalman copper, molybdenum, gold and rhenium deposit and the second across part of the Mt Philp Breccia that is prospective for gold and copper.

Hot Chili has struck a win-win deal with the Chilean Government by accepting an offer for lease mining and processing of ore from its Productora copper-gold deposit in Chile, which will see Hot Chili realise surprise revenues from Productora way ahead of any internal planning. The company said its agreement potentially represents between US$400,000 to US$500,000 in annual payments for its 80% interest in the Productora JV.