Public Company News

Thunderbird Resources is homing in on evidence of uranium mineralisation after drilling significant hydrothermal alteration and detecting radioactivity at its Hidden Bay project in Canada’s prolific Athabasca Basin. The maiden four-hole drilling campaign was designed primarily to test possible basement-hosted uranium targets close to the Athabasca Basin unconformity and the company now believes it may be close to unveiling a uranium mineralising system.

The European Union has delivered ASX-listed Neometals a crucial endorsement for its vanadium recovery project in Finland, co-funding part of the company’s bid to become Europe’s first vanadium producer. The funding deal for the project that refines waste from steelmaking into the valuable vanadium battery metal was executed with Germany’s EU-backed EIT RawMaterials and could be worth up to some AU$42.3 million.

Lycaon Resources' share price has surged 31 per cent to 31.5c on significant trading volume after it secured the crucial heritage clearance that will enable a maiden drilling campaign at its Stansmore niobium-rare earths project in Western Australia’s West Arunta region. The company will use a $180,000 exploration incentive scheme grant from the WA Government to fund the program.

King River Resources has intersected significant geochemical anomalies from recent drilling at its Langrenus and Providence prospects that sit within the company’s Tennant Creek East project in Australia’s Top End. The drill campaign is part of a $2 million spend to follow up geophysical targets generated from last year’s program and encountered anomalous gold, copper, silver, antimony, bismuth and cobalt.

This week’s Bulls N’ Bears Runner of the Week is … Aruma Resources. The exploration company hit high-grade copper-antimony samples at its Fiery Creek project in Queensland, with its share price jumping on massive volume. Also, Petratherm’s stock soared after it discovered titanium-rich heavy mineral sands in South Australia, while other movers-and-shakers this week were Locksley Resources and Enova Mining.

Altech Batteries has inked a letter of intent to supply 30 of its 1MWh Cerenergy GridPack sodium chloride batteries annually to be used at a major German industrial park for energy storage as part of a five-year deal starting in 2027. The agreement has been struck with consultancy firm Zweckverband Industriepark Schwarze Pumpe, which oversees the park in the Lusatia region of south-east Germany.

Horizon Minerals has signed a significant new joint venture deal aimed at developing and mining two open pits at its Phillips Find gold project in Western Australia’s Goldfields region in a bid to cash in on record high prices for the precious yellow metal. The deal with BML Ventures is underpinned by a plan to produce 15,000 ounces of gold from the site.

Novo Resources has joined the global hunt for antimony across its grounds in Western Australia’s Pilbara region on the back of widespread growing interest in the metal after China’s recent decision to implement export bans has reshaped the global supply chain. The company says it has identified two early-stage exploration sites – Sherlock Crossing and Southeast Wyloo – that are showing promising prospects.

Red Metal says its latest step-out drill program has confirmed two huge, parallel magnet rare earths zones at its Sybella project near Mount Isa in Queensland, highlighting the impressive resource potential at the site. The company’s latest assays featured strong shows for all four magnet rare earths –neodymium, praseodymium, dysprosium and terbium – and infill drilling is now a key priority.

Xanadu Mines has launched into maiden field programs at its Sant Tolgoi copper-nickel project in northern Mongolia. The company says detailed mapping and sampling programs are well underway at the site, with early indications of multiple shallow copper-nickel sulphide targets. Management believes it has multiple copper-nickel targets at Sant Tolgoi, with the potential for new district-scale copper discovery.

Galan Lithium has rung the till for AU$25 million from a placement and a rights issue to support the completion of the first phase of lithium production from its Hombre Muerto West project in Argentina in 2025. The capital raise includes a firm commitment for AU$12 million through a placement at 10.5c per share and a non-renounceable entitlement offer aimed at raising an additional AU$13.3 million.

A world-first survey using the effects of lightning strikes to test electrical conductivity in rocks at Estrella Resources’ Carr Boyd project in WA has earned the company a Federal Government grant. The cutting-edge heliborne survey initially conducted by Expert Geophysics in August last year, harnesses traditional electromagnetic pulse data in conjunction with lightning strike pulses triggered by storms constantly raging over the Equator.