Public Company News

PharmAust has confirmed that its flagship anti-cancer drug, Monepantel, produced using the recently determined “GMP” process, continues to demonstrate the drug’s expected ability to kill cancer cells while having little or no impact on non-cancerous cells. Further pre-clinical molecular pathway targeting studies will now be carried out to improve the company’s understanding of how the drug kills cancer cells.

Artemis Resources has secured a $5.4m funding package from a UK-based institutional group to underpin development activities at its Carlow Castle project near Karratha and exploration in the emerging Paterson Range area to the east. Funding will be used for resource development activities and metallurgical test work at the Carlow Castle gold-copper-cobalt project and to initiate regional geophysical surveys at the company’s prospective Paterson Range Armada prospect.

Precious metals explorer Emu NL has commenced its exploratory field program at the Vidalita project in northern Chile with a comprehensive campaign of shallow aircore drilling planned for its Peon 4, Vidalota D and Jotahues areas. The campaign will also target higher grade gold mineralisation at its main Vidalita project, vectoring towards a prospective fault zone it has interpreted from existing drilling data.

Lithium Australia is looking to use its proven technologies that can turn lithium mica mineralised waste into lithium-ion battery cathode powders at its Sadisdorf project in Germany and for similar resources elsewhere in Europe. The company will now include its proprietary technologies, such as its SiLeach process for extracting lithium phosphate from micas, into the scoping study for Salisdorf.

St George Mining has hit a 5.25m drill intersection going 6.95% nickel, 2.67% copper and 0.23% cobalt from 185m down-hole at its Investigators prospect near Leonora in WA. Another impressive 6.39m long intersection in a separate hole showed 6.48% nickel, 2.77% copper and 0.21% cobalt from 184.42m down-hole. The impressive results from massive sulphide intercepts continue to expand the footprint of mineralisation at the prospect.

Myanmar Metals’ drill campaign at its Bawdwin base metals project in Myanmar, has intersected high grade mineralisation of up to 45m @ 6.7% lead, 5.6% zinc and 113g/t silver from 76m down-hole in an area previously considered to be waste. The results could significantly add to the Bawdwin resource estimates and the economics of the China Pit pre-feasibility study, both of which are expected in early 2019.

Tyranna Resources’ partner Alliance Resources has returned some impressive high-grade intersections including a long 20m intersection going 12.44g/t gold from the Weednanna gold prospect within the Wilcherry JV project in South Australia. More RC drilling will take place in December to upgrade resources in the eastern optimised pit area from the inferred to indicated confidence level.

Infinity Lithium says its proposed AUD$395m Spanish lithium project could potentially churn out AUD$172m a year before tax in annual operating free cash flows for at least 24 years. The lovely set of numbers were contained in the company’s lower level scoping study announced to the market this week that details the preliminary economics of building a lithium hydroxide plant along side its lithium mine.

Strike Energy’s all-scrip takeover offer for Perth Basin oil and gas company UIL Energy is now unconditional after it received acceptances for about 56% of UIL’s shares on issue. Strike will now appoint its directors Andrew Seaton and Stuart Nicholls to the board of UIL while all of UIL’s directors save for Stephen Bizzell will step down.

Anglo Australian Resources has defined a mineralised gold zone over 2.5km long and up to 250m wide at its Mandilla project located near Kambalda in WA. The company is now on the hunt for the bedrock source of the mineralisation, which it believes lies at the sheared geological contact between a granite and a sedimentary sequence that will undergo future deep drill testing, according to Anglo.

ASX listed resume verification company, CVCheck, looks set to turn cashflow positive this quarter after a sustained focus on growing its more lucrative business to business market and an assault on costs has starting to pay off. The company’s revenues have grown $5m in two years from $7.1m in FY2016 to $12.5m in FY2018 whilst customer acquisition costs and cash burn has steadily decreased.

If it wasn’t Adriatic Metals, a 46m long drill intersection boasting at least 4 different high-grade minerals would ordinarily have the West Perth investment glitterati spitting their coffee across the table at Black Toms. But such is the quality of the results of Adriatic’s ongoing drill campaign that the bar has been set very high indeed for this rapidly advancing $54m market cap ASX listed exploration company.