Public Company News

Automotive conglomerate, AMA Group, has locked in its first fleet customer in SG Fleet who manages a 140,000 strong fleet of vehicles. The deal with the fleet management, vehicle leasing and salary packaging firm should add 4000 new repair jobs a year to AMA’s network of panel and mechanical repair workshops across Australia and New Zealand.

ASX-listed oil explorer, 88 Energy, has identified a second oil appraisal location close to the historical “Heavenly-1” test well at its Icewine project in Alaska’s oil-rich North Slope after integrating the results of its recently drilled, “Charlie-1” gas and condensate discovery well. 88 Energy believes the new appraisal location now has a better chance of finding oil in the target Seabee formation.

Norwest Energy, along with JV partner and Operator, Mineral Resources, is collaborating with other Perth Basin operators to secure a drilling rig for a multi-well program commencing in the third quarter of this year. Norwest and Mineral Resources are looking to join the consortium to secure a rig on beneficial terms to drill their highly anticipated Lockyer Deep-1 exploration well.

Perth’s Infinity Lithium has managed to muscle its way into the EU lithium market and was part of a heavyweight team this week that presented to the Vice Presidents of the European Commission and the European Investment Bank. With the EU now on a mission to become self-sustainable in lithium, Infinity’s San Jose lithium project is looking good.

Legend Mining continues to build on its success in the Fraser Range with recent drilling extending the footprint of the Mawson nickel discovery yet again. Shallow air core drilling has intersected broad zones of nickel-copper mineralisation, pointing to a deeper sulphide source. Legend has its ears laid back now as it vectors in on the source of its recent success.

Altech Chemicals has been given an official “green” classification for its Malaysian high purity alumina project from an independent research centre, opening the door to the “green bond market” that was valued at nearly USD$250b last year. Green bonds are an environmentally conscious financing instrument used by investors who are looking to invest in environmentally sustainable projects.

Just as it is breaking ground at its gold project near Kalgoorlie, ASX-listed Horizon Minerals has lit up its Nanadie Well copper-gold project near Meekatharra with intercepts like 12m at 2.16 per cent copper and 2.16g/t gold from just 20m down hole. Horizon said that particular drill hole also included 1m at an impressive 3.7 per cent copper and almost an ounce to the tonne gold.

Ora Banda Mining has produced a swag of solid gold intercepts from exploration drilling at multiple sites along the mineralised corridors that make up its Davyhurst gold project located north west of Kalgoorlie. Strong hits include 2m at 19.22g/t, 4m at 10.78g/t and 9m at 5.53g/t gold. Drilling at the underground Golden Eagle mine also did not disappoint with 2.1m grading 12.93g/t gold.

Just 18 months after start up at its Boonanarring mine north of Perth, ASX-listed mineral sands miner, Image Resources, continues to hit its milestones with a third scheduled debt repayment of US$7.7m now bowled over. Image has been delivering strong production numbers that routinely exceed the plant’s design specifications and it has systematically defined multiple new ore horizons around the mine.

Lindian Resources’ has thrown up some pulse quickening, ultra-high-grade alumina numbers at both the Bouba north and Bouba south extensions of the Bouba plateau at its Gaoual conglomerate bauxite project in Guinea, Africa. Three holes from Bouba North returned alumina grades between 50 and 54.4 per cent alumina with four holes at Bouba South grading even higher, between 54.9 and 58.5 per cent alumina.

PolarX has its elephant gun firmly trained on the elephant sized mineral deposits in Alaska with the ASX listed company getting set to undertake follow up drilling of its extraordinary 55m long drill hit that showed 2.8 grams per tonne gold and 0.6% copper. Whilst the Zackly Main Skarn is already showing 213,000 ounces of gold, the real prize appears to be at Zackly East.

Element 25 has delivered an outstanding pre-feasibility study for its Butcherbird manganese project in the Pilbara, revealing that the operation will produce a pre-tax NPV in real terms AUD$283M at an incredible IRR of 223 per cent on project capital costs totaling AUD$14.5M. The project shows an initial mine life of 42 years and annual free cash flows of AUD$24M.