Public Company News

Lithium Australia’s unquenchable appetite for Lithium feedstock is taking it into two virgin areas with hopes of opening up entirely new Lithium provinces.  The company has acquired tenements in WA’s Gascoyne region along strike from the Nardoo pegmatite district and permits inland from Cairns where there is no history of Lithium exploration but plenty of exciting indicators exist.

ASX listed Connected IO continues to forge ahead in the multi-trillion dollar internet of things sector, securing a purchase order from US electronics giant Arrow Electronics for its cutting-edge wireless modem devices.  The order will see the company’s products available through Arrow’s 465 offices across 90 countries.

ASX listed Online screening and verification company CVCheck has posted record revenue for the fiscal third quarter driven by sustained user growth and a continued surge in corporate customers. The company expects the strong run of revenue growth to continue in Q4 FY17 and is predicting to be at breakeven by year end.

Pilbara Minerals’ giant Pilgangoora Lithium deposit just keeps getting better, with 10 tonnes of bulk samples from the Central pit area returning an average grade of more than 2% Lithium. The news of exceptional in-situ grades comes as Pilbara finalises a direct shipping offtake agreement and a mining proposal for a 2Mtpa development.

Blackham Resources have identified two new high-grade zones at the Golden Age mine at the Matilda Gold project, with intercepts ranging up to 118 g/t gold. The discoveries are set to provide a welcome boost to the underground mine plan and follow a return to full open pit operations after delays caused by unseasonal wet weather.

Northern Minerals will build Australia’s first heavy rare earths mine at Browns Range in WA after board approval this week for the $56 million development. The mine will be a pilot project operating at about 10% of the scale of a proposed full scale development and will focus on production of “Dysprosium”, a key component of permanent magnets used in large electric motors.

Auroch Minerals have boosted their cash balance to $8m after banking another $1.3m in delayed funds from the sale of their Mozambique project to Xtract Resources last year. With only 85m shares on issue and a burgeoning bank balance, Auroch are something of a rarity in the small cap exploration space. 

Whilst many other medical marijuana hopefuls are still talking up their opportunities in the industry, Perth listed MGC Pharmaceuticals have produced their first cannabinoid extracts at the company’s brand new European extraction facility. The milestone means MGC remains on track for commercial production to commence in the third quarter of this year.

Lithium Australia have hit back at takeover target Lepidico with a new expert report that raises concerns about the independent expert report prepared as part of Lepidico’s defence. The new report by Leadenhall Corporate Advisory is critical of the methodology used by Lepidico’s independent expert and concluded that the report should have found the bid was fair and reasonable.

The extraordinary deal-making skills of Neometals have been put to work once again to secure a $125 million buyout of the company’s 13.8% stake in the Mt Marion Lithium project. The remarkable end to Neometals’ involvement in Mt Marion means the project will have generated a staggering $213 million for the company from a total investment of just $3 million.

Perth listed Sky & Space Global’s dreams of heading into space are about to be realized, with confirmation of a late-May launch date for the company’s first three telecommunications “nano-satellites”. The company this week reported that the Indian Government space agency had confirmed the launch of the satellites next month, paving the way for maiden revenues to flow within months.

ASX-listed Connected IO continues to blaze a trail in the burgeoning “internet of things” global market with the launch of a new wireless modem device designed to take advantage of the latest low latency broadband cellular network known as “Cat 1”. Cat 1 has been built by major mobile service companies around the world to provide an optimized, cost effective network specifically for the internet of things.