Public Company News

Spectrum Metals’ share price has jumped 40% from Friday’s close on news of a take-over bid from gold titan, Ramelius Resources which has the blessing of the Spectrum board. The cash and scrip offer represent a 70% premium to Spectrum’s 30-day volume weighted average share price. Ramelius says there are strong synergies between the two companies and the board of Spectrum has endorsed those views.

Horizon Minerals has developed a plan to bank between $2.8m and $5.8m over 8 months from toll treating its gold from Boorara near Kalgoorlie. A feasibility study suggests that open pit mining and toll milling of Horizon’s Regal, Crown Jewel and Royal deposits would only cost around $440k in upfront capital costs. Horizon is looking to toll treat at Golden Mile Milling’s Lakewood plant, 7km to the West.

New modelling work at Hot Chili’s Cortadera copper-gold discovery in Chile has the Perth based company convinced that its resource, just in the existing discovery zone, has the potential to grow into a “tier-1” style deposit that is capable of hosting over 5mt’s of contained copper. A recent deviated drill hole unexpectedly delivered 92m @ 0.5% copper and 0.2 g/t gold at end of hole.

Calidus Resources has jumped on the opportunity to pick up an accommodation village, signalling that it is getting serious about developing its Warrawoona gold project. The accommodation modules will be stored in Marble Bar until all internal and external development approvals are in place. The company has applied for an early works permit to fast track deployment of the camp ahead of receiving final approvals.

Coziron Resources looks to be onto a gold mineralised system at its Croydon project in the Pilbara as it vectors in on the higher grades at the project. One 8m intercept from its first pass drill program went 10.2g/t gold and 11 of the 13 drill holes were mineralised. Intercepts were clustered around the Top Camp prospect where gold anomalies were recorded from earlier soil and auger samples.

A trip to the Mines Department appears to have paid off in spades for Kingwest Resources who has unearthed a treasure trove of lucrative looking historical face sample results taken along development drives and rises at its Menzies project. The results from 1924, show some amazing grades along the faces such as 22.3g/t gold over 31m of development at an average sampled width of 2.1m.

Kairos Minerals has spied visible gold amongst an extensive array of gold mineralised soil anomalies at its Fuego Prospect in the Pilbara region of W.A. It said that multiple gold-in-soil anomalies have defined an in-situ gold target at Fuego over 10km of strike that contains results above 30ppb of gold. The company will now use an EIS State Government grant of $150,000 toward its next RC and diamond drilling campaign.

ClearVue’s solar window glass technology is gaining momentum and now has a firm foothold in renewable energy markets across the globe. The Perth company is now on the radar of the global smart product building industry. ClearVue has developed two products that can be fitted to window glass that are capable of turning the glass into an energy generating panel.

Ora Banda Mining has increased its Waihai gold resource by 190% to 2.46Mt grading 2.6g/t gold for 206,000 ounces. The company’s total Davyhurst project mineral resource now stands at 23.8Mt grading 2.6g/t gold for just shy of 2m ounces. A swathe of new drilling metres has been ploughed into the broader Davyhurst project with the global resource now sitting at 23.8Mt grading 2.6g/t gold for just shy of 2m ounces.

Australian Potash has received positive feedback from the EPA who found no material issues or fatal flaws with its over-arching environmental review document for the Lake Wells sulphate of potash project near Laverton. The ASX-listed company will now address issues raised under the staged assessment process and resubmit its environmental document for the final approval stage with a view to clearing one of the largest project hurdles.

Horizon Minerals has kicked off what is shaping up to be a highly anticipated drilling and resource development program at its newly acquired Rose Hill project near Coolgardie in the prolific Goldfield’s region of WA. The project already boasts a resource of some 1.2 million tonnes grading 2.49 grams per tonne for 95,200 ounces of gold and recent excellent intersections include 11m grading 8.79g/t gold from 43m and 10m grading 6.28g/t gold from 28m.

Ardiden Ltd has invited veteran Geologist and its current CEO, Rob Longley, to step up into the Managing Director’s chair as the company sets its sights firmly on its Canadian gold exploration and development assets. Mr Longley recently drove the doubling of Ardiden’s ground position at its Pickle Lake gold camp in Canada where it is sitting on an initial resource of 110,000 ounces grading a respectable 4.4g/t gold.