Public Company News

This week’s Bulls N’ Bears top ASX runner is … Avira Resources. Its share price rose more 100 per cent to join fellow movers and shakers DiscovEx Resources, Volt Power Group and Singular Health Group.

Gold Mountain is set to kick-off rare earths exploration this month at its Down Under project in Brazil, along strike from and flanking ground hosting Brazilian Rare Earths’ massive 510.3-million-tonne resource. Management says its drilling will be guided by a local geologic consultant, who will assess radiometric and magnetic data in conjunction with satellite imagery to define prospective areas begging to see the drill bit.

Javelin Minerals has renewed the exploration licences for its Husky and Malamute projects in New South Wales for an additional three years after getting the green light from the State’s resources regulator. The Perth-based explorer considers both projects to have excellent prospectivity for scandium and rare earths, in addition to precious, base and battery metals.

The United Kingdom Government has shown its confidence in Triangle Energy Global, offering it a North Sea license containing five prospects with at least 269 billion cubic feet of gas, along with multiple shallow leads. The acreage bolsters Triangle’s global portfolio as the company matures plans to drill two wells in the onshore Perth Basin this year.

Chariot Corporation has hit the ground running at its Black Mountain lithium project in Wyoming, with the first three holes drilled delivering initial hard rock results peaking at 3.09 per cent lithium oxide. The company says all three holes intersected high-grade spodumene mineralisation, confirming the potential of the lithium-caesium-tantalum pegmatite swarms at the United States-based project.

Lindian Resources is taking aim at upgrading a significant portion of its massive Kangankunde rare earths deposit in Malawi to the high-confidence indicated category ahead of a feasibility study due this quarter. The deposit’s 261 million tonnes grading 2.19 per cent TREO currently sits in the inferred category and the company hopes to make an eyebrow-raising maiden ore reserve statement as part of its study.

Buxton Resources says a second diamond drillhole into the Dogleg prospect it shares with IGO in Western Australia’s West Kimberley region has thrown up a 2.89m hit going 4.17 per cent nickel and 0.83 per cent copper from 233.63m. The hole drilled by IGO, Buxton’s ASX 100-listed joint venture partner, also reported 0.14 per cent cobalt in the same intercept.

Buxton Resources’ growing union with mining giant IGO has set up the company for a big 2024, with the latter pumping in $579,000 to help fund a new exploration campaign at their Copper Wolf joint venture project in Arizona. It comes on the back of a busy financial quarter where Buxton also advanced its Graphite Bull and Quick Shears projects in Western Australia.

AVZ Minerals has increased the resource at its Manono project in the Democratic Republic of Congo to an extraordinary 842 million tonnes at 1.61 per cent lithium oxide, representing a massive 47 per cent rise. The remarkable resource expansion comes after the company generated results from a 53-hole diamond drill campaign across 15,684m along strike from known mineralisation at its Roche Dure deposit.

Software provider K2fly says cost management remains its major focus as the company’s latest financial report today revealed a remarkable 14th consecutive quarter of annual recurring revenue growth. The ARR was at $8 million in the past quarter, up 16 per cent compared to the previous corresponding period (PCP) and revenue was at $3.4million, up 21 per cent from the PCP.

Venture Minerals has engaged resources-focused advisory company Argonaut PCF to undertake a strategic review of the Riley iron ore mine in Tasmania following increased interest due to high iron ore prices. The company believes it is in a position to consider its options after its offtake agreement with Prosperity Stell lapsed and the iron ore price rose to more than $220 per tonne in December.

Lycaon Resources is nearing heritage survey completion at its West Arunta Stansmore project as it prepares for drill-testing of its modelled 3D magnetic targets for carbonatite-hosted niobium-copper-gold mineralisation. WA1 Resources’ tier-one Luni discovery that sits 90km to the south and has a drill intercept of 30m at 4.7 per cent niobium oxide, highlights the world-class discovery potential of the West Arunta region of central Australia.