Public Company News

Image Resources is well on the final stretch towards production at its Boonanarring mineral sands project 80km north of Perth after commencing wet commissioning of the processing facility. The company is on track to start producing mineral sands concentrate in the current quarter, receiving its first revenue in January 2019 and becoming cash flow positive by the end of the first quarter of 2019.

Aurora Labs has signed a partnership agreement with Fortescue Metals Group to explore the potential of its trailblazing 3D printing technology with a view to reducing production and operational costs in the mining and resources sector. Aurora’s ability to essentially “print” replacement mechanical parts quickly and accurately using its proprietary 3D printers could reduce costs and lead times normally required to procure specialist parts.

Infinity Lithium’s listing on the Frankfurt and Stuttgart stock exchanges will increase its exposure to European investors ahead of its upcoming feasibility study for a fully integrated mining operation and lithium carbonate processing facility at its San Jose project in western Spain. The company has also appointed lithium industry expert Vincent Ledoux-Pedailles to lead its European corporate strategy.

Strike Energy is now fully funded to drill the West Erregulla-2 well in the Perth Basin and complete pilot production activities for the Jaws-1 deep coal seam gas wells after raising $13m through a share placement. The share placement also fulfils the capital raising requirement for the recommended takeover offer for UIL Energy, which will increase Strike’s exposure to the Perth Basin.

ASX listed upstart telco Vonex has signed on 12 new channel partners in the first quarter of the 2019 financial year as part of its ongoing efforts to accelerate business growth. The company has already signed up 6 new partners in the current quarter and is well on track to secure at least 100 new channel partners in the current financial year.

Recently processed 3D seismic data has led 88 Energy to increase its gross mean prospective resource at the Project Icewine in Alaska’s North Slope by almost 1.15 billion barrels to 2.89 billion barrels of oil. It has also allowed the company to predict where the best reservoir quality is likely to be in both the Schrader and deeper Torok sequences. The company still expects to farm-out the conventional acreage before the end of 2018.

Calidus Resources has executed a definitive agreement with TSX-V listed Pacton Gold Inc, to vend its non-core conglomerate gold rights at the Warrawoona gold project for 7 million Pacton shares. Calidus will retain all other gold rights to the ground. The deal covers 8 exploration licences and allows Pacton to explore and mine for conglomerate gold, with liability for rehabilitation and environmental obligations, whilst Calidus retains title to the tenements.

Legend Mining has reported intriguing anomalous zinc, gold and sulphur assay results from its new Shackleton discovery, located in the revered Fraser Range region of WA. The company believes the new results bear all the geochemical fingerprints of a volcanic-hosted massive sulphide style of base metal mineralisation. The find is located only 7km northeast of the Independence Group’s Andromeda “VHMS” copper-zinc, gold and silver discovery, revealed earlier this year.

Bellevue Gold has doubled the global inferred resource at its namesake project northwest of Leinster in the Goldfields of WA to 2.6Mt @ 12.3g/t for 1.04 million ounces of contained gold. This is due to its reporting a maiden resource of 800,000t at an impressive grade of 22g/t gold, or 550,000 ounces of contained gold. There is potential for further upside as Viago remains open in all directions.

Base metal developer Galena Mining has taken the prudent step of separating its non-core exploration assets into a new entity, Metal Range Limited, so it can fully focus on developing the flagship Abra project in WA into construction during 2019. The new company will pick up the Woodlands complex, Manganese Ridge and Quartzite Well exploration prospects, which are variously mineralised with lead, zinc, copper, silver, gold and manganese.

Strike Energy has launched a $16.1m all-scrip takeover offer for fellow oil and gas company UIL Energy to increase its exposure to the Perth Basin in Western Australia. This will increase the company’s acreage in the Perth Basin to over 3000 square kilometres. Strike is planning to drill a well to test the West Erregulla prospect, which is adjacent to the Waitsia gas field, in the first quarter of 2019.

Rare earth element developer Greenland Minerals has flagged a substantial reduction in the capital costs for civil earth works at its huge Kvanefjeld rare earth element project located on the southern tip of Greenland. An engineering review has optimised the process plant and site infrastructure ground footprint at the proposed mine, reducing the volume of material disturbance by 80% from previous estimates.