Public Company News

Hammer Metals has made its best ever intercept of 41 metres @ 0.18% cobalt, 0.11g/t gold and 0.23% copper from 14m down-hole representing the true width of the mineralisation at the Millennium project near Cloncurry in QLD. Drill results will now be reviewed before carrying out further exploration on the higher grade southern portion of the resource ahead of preliminary metallurgical studies.

Aspire Mining’s proposed railway line in Mongolia is firming up as the Russian and Chinese Government’s recognize the strategic value of Mongolia as a transport hub. Aspire is now evaluating a dual transportation option for its Mongolian coking coal after Russia and Mongolia signed off on a long-awaited agreement for transporting goods. Under the deal, coal exports will receive a 66% discount on the Russian rail system.

Altech Chemicals has potentially overcome some CAPEX hurdles for the construction and development of its HPA plant in Malaysia, executing a non-binding stream financing term sheet with a US-based global investment group for USD$60m. With USD$190m already committed by the German Government-owned KfW IPEX-Bank and a term sheet for mezzanine debt from a global merchant bank for USD$90m, it is unlikely that Altech will need to raise much equity to kick -off project.

Coolgardie Minerals will look to create an early cash machine from the Bullabulling Gold Project near Coolgardie to fund its exploration program on a number of other exciting prospects that it will take to IPO in July. The Neil Warburton-chaired company is targeting the Bullabulling shear zone that already hosts millions of ounces in the region.

Algae.Tec expects its Uruguayan partner Auberna to harvest the first crop of cannabis soon with up to 50kg of high-grade cannabidiol resin and powder to be delivered in the September quarter. The product is expected to sell for up to US40,000 per kg and the company is working with a range of wholesalers to arrange supply agreements for it.

Auroch Minerals has initiated a ground induced polarisation survey at its Bonaventura base metals project, on Kangaroo Island in S.A. that has been throwing up a number of enticing rock chip samples. Three priority aeromagnetic anomalies will be surveyed after a review of historical drilling and results. The survey will be used to plan the company’s highly anticipated maiden drilling program for Bonaventura.

DroneShield has won a $3.2m order for 70 of its drone disabling DroneGuns from a Western allied Middle Eastern Ministry of Defence that has one of the largest defence budgets in the world. This is the company’s largest order to date and serves to not only validate its products but also may lead to further orders.

Metalicity’s battery metals ambitions have received a boost with the return of some tantalising results from an innovative geochemical survey just 35kms along strike from the giant Greenbushes lithium mine. A first-pass sampling program has defined two large target areas that could host pegmatites under a lateritic cover with the company planning immediate follow up with an infill survey.

Emu NL has discovered a major, highly mineralised, epithermal gold system at its Vidalita prospect in the lucrative Maricunga precious metals belt in Chile. Three separate mineralised zones elevated in gold, silver and base metals were identified from drilling. Notable intersections included 26m @ 0.32g/t gold from 181m down-hole, 10m @ 0.33g/t gold from 217m and 6m @ 93g/t silver from 253m down-hole.

Lithium Australia will file two additional patents that will reduce capital and operating costs for its SiLeach lithium recovery process by removing the need for extensive evaporation. The move is a result of its ongoing partnership with ANSTO Minerals and will further refine the company’s commercialisation plans that include development of a large scale pilot plant.

Fresh from its technical successes in the Cooper Basin, Strike Energy has put its technical skills to work again to reveal a stunning analogue of the coveted Waitsia gas field in the North Perth Basin. Strike reported that detailed technical studies at its newly acquired West Erregulla project, just 16kms southeast of Waitsia, shows a potential gas resource of up to 1.24 trillion cubic feet.

Tech play Vonex has the big telco’s in its sights as it seeks to pinch market share from them courtesy of the disruption caused to the market by the roll out of the NBN. The company listed on the ASX yesterday after completing a $6m IPO and will now seek to gain greater market penetration for its cloud based PABX and related services.