Public Company News

Norwest Energy has A$3M cash in the bank to help it lock in a rig for the highly anticipated Lockyer Deep-1 exploration well that is only 15kms north of Strike Resources’ huge West Erregulla gas discovery. Norwest said it was working with the operator, Mineral Resources to secure a rig contract after locking in site access with the local landowner east of Dongara in WA.

Perth listed oil company, 88 Energy, has made an off-market, all-scrip offer for fellow ASX-listed Alaskan oil chaser, XCD Energy, with a view to expanding its gross lease foot print on Alaska’s oil-rich North Slope by forty per cent. The offer is subject to a formal bidders statement and 90 per cent acceptances from both XCD Energy shareholders and listed option holders.

Calidus Resources is pulling out all stops to get its Warrawoona gold project into production in the Pilbara after it signed a deal to co-fund an airport upgrade at Marble Bar this week in partnership with the Shire of East Pilbara. The upgrade will enable Calidus to seamlessly deliver its workforce in and out of Warrawoona when it gets going.

Ora Banda Mining’s spread of gold deposits across its Davyhurst project, including an impressive 24 separate resources, will soon receive yet another shot in the arm courtesy of a successful drilling program at the rapidly developing Sand King project. Standout numbers at Sand King include 5 metres grading 13.7 grams per tonne gold from 79m, 4.5m at 10.4g/t from 73m and 6.6m grading 6.1g/t from 5.2m.

ASX-listed Coziron Resources has field plans well underway in preparation for a drill campaign to commence on the first phase of diamond holes at its Top Camp prospect in WA’s Pilbara region. Three holes are planned to follow up the company’s maiden discovery at Top Camp that included 8 metres grading 10.2 grams per tonne gold. Coziron will use the data to understand the mineralisation and plan further drilling.

ClearVue Technologies has signed a Letter of Intent with Beijing Jinmao Green Building Technology Co. Ltd, owned by a subsidiary of China’s Sinochem Group Co, Ltd, to market and distribute its smart solar window glass panels in mainland China. The two companies will complete a trial construction project first by deploying ClearVue’s energy generating window panels ahead of negotiating a formal, possibly exclusive, distribution arrangement.

Ramelius Resources’ friendly takeover bid for ASX-listed Spectrum Metals is gathering momentum with Ramelius’ relevant interest in Spectrum now hitting 77.48%. Ramelius has extended its offer to remaining shareholders until the 29th of May whilst at the same time declaring the offer to be fixed and final. Ramelius also said that Spectrum shareholders who choose not to sell may be disadvantaged by a lack of liquidity.

Impact Minerals has added Apsley and Spicers Creek to its inventory of Boda copper-gold porphyry look-alike prospects near Dubbo in NSW. The new targets are contained within Image’s Commonwealth project that lies south of Alkane’s revered Boda and Kaiser porphyry copper-gold discovery in the Lachlan Fold Belt. The company has received assays from its recent reconnaissance rock chip sampling and the results confirm copper-gold mineralisation.

After navigating a plethora of Bosnian statutory approval labyrinths, Adriatic Metals is nearing the end of the maze after receiving a coveted and positive “record of decision”, or “RoD” from the Federal Ministry of Environment and Tourism for its Veovaca Environmental Permit which is one of the key approvals required for an Exploitation Permit to be finally issued. The company said the RoD is final and cannot be challenged, which means that the Exploitation Permit theoretically should be forthcoming soon.

A refining breakthrough by King River Resources’ has converted the aluminium oxide from its Central Vanadium deposit into a high value 99.99% high purity alumina, or “4N HPA” product. The company’s decision to refocus on the aluminium content of the deposit has simplified its processing flowsheet ahead of the completion of its prefeasibility study that is looking to generate early cash flows from the Speewah project in the East Kimberly.

Hammer Metals has doubled the strike length of its North Orelia gold target with the latest drill results identifying significant areas of shallow gold mineralisation. Recent intercepts from air core holes at the Orelia Target 1 include 4m grading 3.88 grams per tonne gold from 24m, 8m at 1.93g/t gold from 36m, which includes 4m at 2.5g/t from 40m and 7m grading 0.9g/t.

Legend Mining is hot on the tail of an emerging nickel-copper-cobalt discovery at its Mawson prospect in the revered Fraser Range in WA, with assay results all-but-confirming the presence of economic metal grades within the visual extravaganza of massive sulphides seen in the company’s first diamond hole of the year. The widest zone came back at 12 metres grading 2.76% nickel, 1.36% copper and 0.14% cobalt from 234 metres down hole.