Public Company News

Strategic metals company, TNG Limited has received a healthy $2.18 million refund under the Federal Government’s lucrative Research and Development, or “R&D” tax incentive scheme. The company received the funds in relation to test work for the commercial extraction of rare metals using its patented “TIVAN” process. Recently the company submitted the mine plan for its wholly-owned Mount Peake vanadium-titanium-iron project in the Northern Territory, which has an initial 37-year mine life.

ASX-listed, heavyweight automotive conglomerate, AMA Group, has completed a multi-million dollar, transformational acquisition of Insurance giant, Suncorp’s Capital S.M.A.R.T panel business, at an implied enterprise value of $420m. It has also purchased Suncorp’s complimentary ACM Parts business for $20m. The deal has propelled AMA into the exclusive ranks of billion-dollar market capped companies and comes gift wrapped with a 25-year service agreement with Suncorp.

Ore sorting could be the panacea for nuggety conglomerate gold projects that are notoriously hard to develop after Novo Resources reported very positive gold recovery numbers from its Egina conglomerate gold project in the Pilbara. Novo is rapidly gaining credibility as a conglomerate specialist as it looks to add this new ore sorting technology to its suite of tools to effectively process its various styles of conglomerate mineralisation.

Neometals is continuing its push into nickel with the expeditious upgrading of its inferred nickel resource at the Munda deposit, which is now a strategic part of the company’s Mt Edwards project near Widgiemooltha in WA. The update has significantly impacted Mt Edwards’ growing inventory, boosting its contained nickel resources to over 130,400t of contained metal, clearing the way for mining studies.

Emerging global lithium player, AVZ Minerals, has recruited the services of African mining veteran, Dr John Clarke, as it prepares to take its massive Manono lithium project in the Democratic Republic of Congo to the next level. Dr Clarke, a former Ashanti Goldfields executive, will become AVZ’s non-executive chairman at the end of the year, bringing to the table a vast wealth of experience from across the Continent.

ASX listed explorer, Ardiden, has identified a swathe of new targets across the West Pickle and Pickle Lake prospects at its gold play in Ontario, Canada. The targets were identified using a combination of airborne magnetic, electromagnetic or “EM” geophysical surveys and historical data. The company also holds the Kasagiminnis deposit that holds a resource of 110,000 ounces grading at a very respectable 4.4g/t gold.

Despite a drop in the zircon price earlier this year, the value of Image Resources’ zircon-rich heavy mineral sands concentrate from its Boonanarring operation in WA has not been diminished as offtake partners continue to pay a premium for its product. The company, which has enjoyed a stellar run since production started at the mine last December, is now looking at new ways to add value to its mineral sands ore body.

Northern Minerals has hit more high-grade dysprosium at its Dazzler prospect just 15km from its Browns Range mine. Assays received by the company following an RC infill and step-out drilling program at Dazzler returned some impressive, near surface intercepts including 7.71% total rare earths oxide, including 7,502 parts per million dysprosium. Dysprosium is typically only mined in China and is in demand from the EV sector.

MGC Pharmaceuticals has received a Government grant to support its research and development work relating to phyto-cannabinoid derived medicines to treat the symptoms of dementia and Alzheimer's. According to the Australian Bureau of Statistics, dementia is the second leading cause of death for Australians, which means that MGC will have a sizeable addressable market if it’s cannabis-based medicinal products can have an impact on this debilitating disease.

The board and management of Azumah Resources has downed tools and moved on after its private equity partner, Ibaera Capital, moved to a majority 61% holding. Managing Director Steve Stone has resigned and non-executive director, Linton Putland will not seek re-election and both have recommended that shareholders accept Ibaera's increased 3.3c a share offer on their way out the door. All major shareholders have now accepted.

Sky and Space Global is rattling the tin as it accelerates its plan to beef up its presence in the space communications race as it looks to launch the first eight of its income earning, telecommunications “nanosatellites” by next year. The company is also planning to expand its commercial opportunities in the satellite sector as it continues to attract telecommunications customers.

Horizon Minerals has rounded off a drilling campaign at its Kalgoorlie gold project with results such as 12 meters grading 3.62 grams per tonne gold from just 28 meters downhole at the Capricorn prospect. At the historic Baden Powell North prospect, new intercepts include 5m going 2.67g/t from only 12m. With multiple processing facilities in the area, Horizon could even produce some quick and easy cashflows from Capricorn.