Public Company News

Blina Minerals will cash in its 11% stake in private New Zealand focused explorer, Condamie Resources and will pocket around $200,000 from the transaction. The company will use the funds to explore its recently acquired Barkly gold-copper project in the NT. The Bluebird prospect is arguably the most promising target at Barkly and historically threw up some lucrative drill intercepts like 20m @ 8.17g/t gold and 0.61% copper.

ASX-listed, cloud-based telecommunications pacesetter, Vonex, last week revealed it had generated quarterly contract revenues of $1.62m, a 25% jump over its June quarter results and an 18% hike over the same quarter last year. Vonex’s business received a shot in the arm this year after the telco upstart inked a partnership agreement with Qantas Business Rewards, with a noticeable upswing in numbers now starting to occur.

MGC Pharmaceuticals has expanded the number of patients prescribing for or being processed to receive prescriptions of its medical cannabis-based pharmaceutical products in Australia and the UK to around 500 with the company racking up its 1000th prescription this month. Management said that the key milestone readily demonstrates its strengthening position and momentum in those key markets, with its sales graph continuing to climb month by month.

Venus Metals has wasted no time in getting a drill rig on top of its four new electromagnetic, or “EM” targets that were thrown up just last week at the company's Vidure copper-nickel prospect in the Youanmi region of WA. The new EM targets represent potentially un-discovered massive sulphide occurrences that may be hiding beneath the surface. With Youanmi a hot area right now, the results should be interesting.

Blina Minerals is all set to kick off a maiden drilling program at its recently acquired Barkley project near Tennant Creek in the NT. The company will drill test extensions to high-grade copper-gold-bismuth mineralisation at the Bluebird prospect, where historical drilling hit numerous stellar intersections such as 20m going 8.17g/t gold, 0.61% copper and 0.22% bismuth from 157m down-hole.

TNG Limited has submitted a comprehensive Environmental Impact Statement for its Darwin TIVAN processing facility to the NT Government in support of its wholly-owned, integrated Mount Peake vanadium-titanium-iron mining project near Alice Springs in the NT. The company will establish a world-class integrated downstream minerals processing operation in Darwin, to treat magnetite concentrates sourced from the Mount Peake mine.

Altech Chemicals is inching closer to production of high-purity alumina after completing Stage 1 of construction at its HPA plant in Malaysia, both on time and budget. The company is now progressing Stage 2, which includes the development of an on-site electrical substation for the processing facility. Altech will produce 4,500 tonnes a year of HPA sourced from pure kaolin clays in WA.

Adriatic Metals has raised $25m via a two-tranche institutional placement to expedite an aggressive exploration program through to a BFS at its exciting, Vareš multi-metals project in Bosnia. The company is also seeking a secondary listing of its shares on the London Stock Exchange during the current quarter to capture further interest from UK and European investors that are looking to support the world-class, high-grade project.

Hot Chili’s drilling at the Cuerpo 3 deposit within its Cortadera porphyry discovery in Chile has hit a 264m long, near-surface intercept of copper and gold mineralisation from just 52m down-hole, opening up the potential for future open-pit extraction. Another hole 250m to the southwest recorded a strongly mineralised porphyry system from surface to at least 313m depth, confirming the zone is also situated in shallow up-dip positions.

Tyranna Resources has picked up a couple of interesting nickel tenements in WA in addition to a NSW nickel-cobalt laterite play. The company will acquire unlisted, Clean Power Resources', prime nickel ground across two states. The WA projects are located in good nickel country with a total prospective strike length of over 30km across structures that link directly to St George Mining’s successful nickel play at Mt Alexander.

St George Mining has discovered seven new downhole electromagnetic conductors believed to be reflective of an extensive, high-grade sulphide mineralised system at depth. More massive sulphide mineralisation has also been observed during ongoing diamond drilling at Investigators East with assays pending. The new conductors and sulphide mineralisation are located at the company’s Mt Alexander Project west of Leonora in WA.

Horizon Minerals has kicked off a major grade control drilling program at its Boorara project that neighbours Kalgoorlie's Super Pit. A 2016 trial pit delivered a reconciled mill gold grade of 1.73g/t against an initial resource modelled grade of 1g/t. This demonstrates the importance of the appropriately named ‘grade control drilling’ program ahead of mining to optimise the mining operation and potentially boost the head grade.