Public Company News

Adriatic Metals has secured full clarity on its mineral rights and royalty arrangements at the massive Vares polymetallic project in Bosnia & Herzegovina by successfully negotiating for the inclusion of gold, silver and copper in an update to its concession agreement. Whilst not entirely clear, the original concession agreement only referred to lead, zinc and barite. The requirement to commence mining by May 2020 has also been removed.

Classic Minerals has been busy drilling at its Kat Gap project near Southern Cross in WA, with the latest RC program hitting some high-quality numbers highlighted by 6m @ 11.54g/t gold from 20m and 3m @ 13.18g/t gold from 144m. It looks as if the mineralised system is favourably shallow – and importantly, still open at depth. As the drilling metres increase across Kat Gap, the mineralisation could reach around 900m in strike according to the company.

Altech Chemicals is on the verge of breaking into the lucrative high purity alumina market after setting a furious pace for the construction of its high purity alumina plant in Malaysia that will draw almost pure kaolin clay feedstock from WA. The company says that construction is well ahead of schedule and that the electrical substation structure is due for completion by May 2020.

Development drilling at Ora Banda Mining’s Callion gold project has delivered some impressive initial results including a 4.8m underground intercept going well over an ounce to the tonne gold from 232 metres, including 0.3m at 498.2g/t. Delineation drilling at the North Eastern goldfields deposit also focused on the open pit development area with one drill hole grading 10.0m at 8.0g/t from 76m.

St George Mining’s Fish Hook prospect within its Mt Alexander nickel project looks to be living up to its name after another two EM conductors were hooked along trend. The two new conductors that coincide with a nickel/copper soil anomaly, were found lurking within shouting distance of a string of discoveries along the nearby Cathedrals nickel-copper sulphide mineralization trend in the North Eastern Goldfields.

MGC Pharmaceuticals has established a distribution agreement to produce and supply its cannabis based medicines to Anden Bio Naturals, giving the ASX listed company access to South American networks containing over 7,500 pharmacies, private clinics and an oncological private insurance system that has over one million listed clients. MGC’s pharmaceutical-grade phytocannabinoid products are emerging as an alternative to conventional drugs.

Trading of Volt’s USD$15m worth of loan notes for its Tanzanian graphite play could commence on the Stock Exchange of Mauritius as soon as Feb 20th. The company also has an option of raising another USD$15m by way of a private note placement on the SEM, with both funding sources to be potentially made available to start building the plant and infrastructure for its multi-generational, Bunyu graphite development that shows a whopping pre-tax NPV of US$1.31b.

Buru Energy was sitting on a $32.4m pile of cash at the end of 2019 with $5.4m worth of oil net production cash flow still expected in the current quarter, representing a three-fold increase on the previous two quarters. The forecast is due to the favourable timing of oil liftings out of the port of Wyndham and the recent successful development drilling at its Ungani oil field in WA’s Canning Basin.

K2fly has added another significant resource company to its rapidly growing, blue chip client list after West Australian miner, Gold Fields Ltd, signed on for a multi-year deal to use K2fly’s innovative software package known as “RCubed”. The contract is worth in excess of $580,000 across the initial five years and comes on the back of a total of $1.67m worth of record invoicing in the December 2019 quarter.

Legend Mining has discovered an EM conductor lurking within shouting distance of its impressive recently announced nickel/copper/cobalt drill hole at the Mawson prospect in the Fraser Range. The latest exploration work at Mawson unearthed over 70 meters of sulphide mineralisation, including 14.9 meters with solid nickel-copper-cobalt grades. A newly modelled “off-hole” electromagnetic anomaly that points to a possible extension of the mineralised zone will now be targeted.

A Federal Government co-funding grant from the Advanced Manufacturing Growth Centre of up to $185,000 has been awarded to Lithium Australia’s subsidiary, VSPC, to assist in developing its lithium battery recycling capabilities. VSPC takes spent lithium-ion battery metals and/or mine waste and produces lithium-iron-phosphate metal oxides that can be commercialised in the rapidly growing environmentally friendly renewables space.

Neometals has confirmed the technical feasibility of its Barrambie titanium-vanadium deposit located in the Murchison region of WA following successful metallurgical pilot test work. The work, that was aimed at optimising hydrometallurgical recoveries, produced a high purity “titanium hydrolysate” from the titanium processing phase. The company has now shipped samples of its new titanium bearing concentrate to potential offtake customers to evaluate.