Public Company News

ASX-listed Calidus Resources has announced the appointment of Mark Connelly to its board as an independent, Non-Executive Chairman. Connelly has enjoyed success in resource project developments and as a powerbroker in merger and acquisition deals lauded by punters. Avid market watchers will no doubt be keeping a close eye on Calidus’ flagship Warrawoona gold project near Marble Bar as Connelly steers it towards production.

Peppermint Innovation has signed an agreement with Singaporean-based CredoLab to deliver credit scoring spinoffs to cash-payment plagued Filipinos who do not have access to banking facilities. At least 70 million Filipinos do not operate a bank account and are paid their weekly wages in cash, however a credit rating via their mobile phones will expedite future access to micro finance and micro insurance services.

Galena Mining will ask shareholders to approve a one-for-five share split to bring the company’s rampant share price down to levels more familiar to retail investors. The unusual move, just five months after the company listed, could prove to be a positive for shareholders if previous share splits are any guide. Both Fortescue Metals and Iron Bark Zinc have successfully pulled off share splits in the past.

Former market darling Aspire Mining is back on the front foot in Mongolia thanks to a big rebound in coking coal prices and its good fortune in landing in the middle of China’s ambitious plans to build railway routes into Europe. The company has seized the opportunity to recapitalise its balance sheet and is aiming to be in production by mid-2019 with its smaller satellite coal deposit.

Strike Energy has spudded the Jaws-1 exploratory oil and gas well in South Australia which may turn out to be a historic move for the John Poynton Chaired ASX-listed junior. Set to be drilled to an extraordinary target depth of 2000m, Jaws-1 may well become the deepest pure coal seam gas well ever drilled not only in Australia, but possibly in the southern hemisphere.

Newly listed BlackEarth Minerals has received a glowing report on the size and quality of graphite at its flagship Maniry project in southern Madagascar, finding plenty of high-purity, jumbo sized flakes that attract premium prices. The report highlighted the Razafy prospect, where BlackEarth is poised to launch a 10,800-metre drill program to establish a maiden JORC resource by mid-year.

Northern Minerals shareholders are eager to increase their exposure to the heavy rare earths developer as it nears first production at Browns Range, applying for $11.7m in stock under the recent share purchase plan. A further $1.3m was raised in a placement on the same terms, providing Northern with a $14m war chest to invest in exploration and further enhancements at Browns Range.

A NATO decision to catalogue ASX listed Droneshield’s anti-drone gun and issue the aerial drone-combatting device with a stock number has opened up a window of potential sales opportunities for the company. Up to 29 NATO aligned militaries and other non-aligned forces, will now be encouraged to purchase the product with increased confidence, without first having to first put it through a rigorous testing procedure.

Blackham Resources shareholders have thrown their collective weight behind a $36m entitlement issue, taking up 87% of the offer in a strong show of support after a dramatic turnaround at the Matilda-Wiluna gold project. The high take up by existing shareholders follows some stunning operational results in January, including record monthly gold production, and record-low all in sustaining costs.

Nzuri Copper has produced its best copper hits yet from a target area immediately along strike from the Kalongwe project in the DRC, opening the door for a possible significant extension of mine life. Drill hits of up to 7.7% copper were accompanied by encouraging cobalt intercepts, all at shallow depths and within 5km of the flagship project.

Middle Island Resources has entered a deal with Canadian-based Tajiri Resources to sell the last of its West African gold interests.The company announced this week it had executed a heads of agreement with Tajiri to sell its Reo project in Burkina Faso. The deal earns Middle Island up to US$355,000 in a series of cash payments and 8% of the fully diluted capital of TSX-V listed Tajiri.

Sky and Space Global will supply telco coverage and connectivity to Ghanaian telecoms service provider, Universal Cyberlinks as part of a five-year deal. The ASX-listed company opened slightly higher on the ASX as the market appeared to embrace an agreement that appears to underpin the company’s claims that it is capable of providing more economical and efficient communications to remote areas of the planet.