Public Company News

Anti-Cancer drug hopeful Pharmaust will be fully funded to enter into Phase 2 human trials after well established New York investment bank Joseph Gunnar and Co agreed to underwrite the company’s next capital raise which will be done in the USA. Phase 2 trials are expected to start in a couple of months after their anti-Cancer drug is reformulated to make it more palatable.

Neometals have amassed an $80m war chest after banking another $19.65m paid by Mineral Resources, their partner in the Mt Marion Lithium project near Coolgardie in W.A.  The company has also formed a second 70:30 partnership with Mineral Resources for the purposes of creating the first Lithium downstream processing project in WA utilizing their proprietory process. 

ASX listed Sky and Space Global have wasted no time in achieving their first major milestone since being backdoor listed into Burleson Energy by Perth connections. In a sign that it is all systems go at Sky and Space Global, the company has now locked down a launch contract with a major European launch broker to catapult its first three “nano-satellites into space.

ASX listed Analytica’s unique medical device, known as the “AutoStart” burette, has now made the official approved list with QLD Health. Burette’s are disposed of approximately every 24 hours when a new one is inserted into an IV drip line making them a major consumable item in the health industry. Analytica are looking to secure a licensing deal with a major distributor.

Financial technologies company and ATM machine operator Stargroup will start to hit the radars of dividend seekers after their latest acquisition which will take the company’s estimated EBITDA from around $3.3m to $4.3m just 10 months after its back door listing. With a swag of tax losses from the original shell, Stargroup now looks set to start spitting out cash.

Sipa Resources systematic approach to their Akelikongo nickel-copper prospect in Uganda appears to be paying off with the discovery of a very encouraging 10m intersection grading 1% Nickel and another 4m intersection grading 1.8% Copper. With Cobalt fetching up to 3 times the price of Nickel, the company was also encouraged to see reasonable Cobalt numbers in the results.

Insatiable demand for Lithium in China has seen Neometals off take partner at the Mt Marion project in Coolgardie increase their contracted take or pay commitment for lower grade Lithium by 250%. Chinese company Ganfeng Lithium previously committed to take or pay for 100% of the 6% LIthium product and has now also commited to taking 200 000 tonnes a year of the 4%-6% product. 

Mid way through their Great Western project Scoping Study, Terrain Minerals have made the call to upgrade their project analysis to pre-feasibility quality. The current resource at Great Western, which is still open down plunge and along strike, sits at 322,500 tonnes @ 5.14 grams per tonne gold. The company is designing a 700m drill program to upgrade the resource to Indicated status. 

The Perth led backdoor listing of Israeli company Sky and Space Global into ASX listed shell Burleson Energy has delivered its backers a 45% profit on day one after it relisted on the ASX yesterday. The architects of the deal, led by Perth Corporate finance player Brett Mitchell, delivered their investors a 45% profit after the stock touched 2.9c yesterday with around 100m shares traded. 

Recently listed Perth shark deterrent and detection company Shark Mitigation Systems is now officially punching above its weight as an ASX junior after world surfing legend Taj Burrow agreed to lend his name to the brand as its world wide Ambassador. Burrow will draw global attention to the company's unique, scientifically inspired wetsuits and other products designed to deter shark attacks. 

Having successfully tipped Neometals share price to jump on three previous occasions, Euroz has again tipped the soon to be Lithium miner’s share price to move north, this time by 23%. Euroz say their most recent analysis of the Mt Marion Lithium mine near Coolgardie, which is 26.9% owned by Neometals, shows the company’s share price should be more like 53c instead of 43c.

The dominos are starting to fall for ASX listed Medical Cannabis upstart MGC Pharma, with its third regulatory approval in 3 months being granted. The company will now have the right to market its unique medical cannabis based cosmetic line known as “MGC Derma” into the $1.9b a year Canadian market after the Canadian regulatory authority, Health Canada approved the product.