Public Company News

This week’s Bulls N’ Bears Runner of the Week is … LiveHire. Its share price jumped 95.83 per cent on news of it entering a bid implementation agreement for an all-cash takeover offer priced at 4.5 cents per share – an impressive 75.8 per cent premium to its 30-day volume-weighted average price (VWAP). Other movers and shakers this week were Artemis Resources, LTR Pharma and Noxopharm.

Allup Silica has beefed up the leadership team tasked with producing a prefeasibility study on its mineral sands project in Western Australia's Eucla Basin by installing Simon Finnis as its new managing director. The company has also added experienced mineral sands operator Peter Secker as a non-executive director as it ramps up its plans to develop the McLaren valuable heavy mineral sands project.

Kalgoorlie Gold Mining is all cashed up and raring to rip into a new air-core drilling program to follow up shallow gold targets identified in its first probing of the Wessex deposit within its Pinjin project in WA. The program will entail 4500m of AC drilling in KalGold’s bid to further assess results from Wessex just three months ago that included 28m at 1.27g/t gold.

Infinity Mining is stretching its wings into multiple new gold, copper and other base metal projects in NSW, Victoria and Tasmania, with ground acquisitions from two vendors covering more than 2000 square kilometres. The projects are well-situated near other mining operations and come with extensive datasets and existing workings that will assist the company to quickly gain a rapid foothold on exploration and development.

American West Metals has paved the way for a resource upgrade and extension for its Cyclone deposit in Canada, with notable new drill hits including 19.8m at 1.2 per cent copper and 3g/t silver from just 12.2m. That intercept includes 4.6m going 3 per cent copper and 7g/t silver from 21.3m and a 3m slice running 3.2 per cent copper and 8.5g/t silver from 59.4m.

Australia’s Foreign Investment Review Board (FIRB) has given its approval for a powerful Japanese consortium consisting of Sumitomo Metal Mining and Mitsubishi Corporation to join forces with Ardea Resources for the development of the Goongarrie Hub operation within the latter’s giant Kalgoorlie Nickel Project (KNP) in Western Australia’s Goldfields region. A joint venture (JV) agreement was signed by the three parties in April this year.

Estrella Resources has applied for four additional exploration and evaluation licenses, identified as containing rich outcropping manganese, in Timor-Leste’s Baucau municipality. The new coastal licenses, which are 8km west of the company’s existing grounds, cover an area of 194.4 square kilometres. If granted, the additional prospects would bring Estrella’s total landholding in the country to nearly 700 square kilometres.

Latitude 66 has found evidence of high-grade gold hits after digging through historical data from its K8 target in northern Finland and says the findings support the company’s previous strong assay results and is further evidenced through recent geophysical work at the site. The data was previously compiled from drilling campaigns run by the Geological Survey of Finland (GTK) and former project owner Belvedere Resources.

Buru Energy and Sabre Energy have kicked off oil well pad construction at their Rafael Shallow 1 joint venture in Western Australia’s Canning Basin. The launch of the civil works for the project, which will be completed ahead of well spudding in late September, follows the receipt of heritage and environmental approvals and Sabre’s recent $6 million commitment to drilling and testing costs.

GreenTech Metals’ recent downhole electromagnetic survey at its Whundo project in WA’s Pilbara region has identified a big conductor plate measuring 400m long and between 50m and 100m wide at its Shelby target. It comes after Fox Resources’ geophysical work in 2006 picked up a deep conductor associated with a weak magnetic response at Shelby, about 500m north of the old Whundo open pit.

Terrain Minerals’ geophysics have identified five conductors at its Lort River project near Esperance in Western Australia that show the potential for sulphide mineralisation analogous to IGO’s renowned Nova-Bollinger deposits in the same mineral belt. Two of the conductors lie on the western periphery of a prominent “eye-shaped” aeromagnetic imagery feature that may also signify a mineralised mafic intrusive.

A first batch of rock chip samples revealing an eye-watering 42.6 per cent copper and an impressive 38.2 grams per tonne gold at White Cliff Minerals’ newly-named Phoenix district, within its Great Bear Lake project in northern Canada, has management convinced it could be on the precipice of not one, but two major, high-grade copper discoveries in the near-term.