Public Company News

Listed telco innovator, Vonex, has entered into a preliminary agreement with the Canadian company, Silverstream SEZC, to sell its legacy entitlement to future iron ore production royalties from the Koolyanobbing Iron Ore Project. Subject to a definitive sale and purchasing agreement being executed and certain milestones being met, Vonex will receive total consideration of AUD$2.5 million in three instalments.

Podium Minerals has just booked a stellar PGM resource upgrade at its Parks Reef platinum, palladium plus gold project near Cue in Western Australia, that also boasts some copper and nickel credits. A 54% upgrade in the inferred mineral resource has delivered 1.14m oz of contained platinum, palladium plus gold and the copper credits now stand at 37,300 tonnes of contained copper.

The AMA Group has acquired New Zealand’s Fully Equipped Group that will complement its existing automotive component accessory division. The Fully Equipped Group manufactures and distributes automotive spare parts and accessories, predominantly for the off-road and utility market. Fully Equipped is based in Hamilton, NZ and has distribution centres on both the north and south islands. The company said it expects the acquisition to be EPS accretive by FY20.

Neometals has bagged more massive nickel sulphide intercepts at its Armstrong deposit, just 90km south of Kalgoorlie. RC drill assays from holes at the old abandoned pit include 6m grading a serious 8.11% nickel, including 5m grading 9.63% nickel from 206m. Other intercepts in the disseminated nickel zone include 34m at 1.94% nickel from 185m and another 24m intersection grading 1.13% nickel from 237m.

Aurora Labs has executed a framework agreement with a global quality assurance provider to have the spare parts that are “printed” by its unique 3D metal printers certified. The agreement may enhance Aurora’s opportunity to break into markets such as the marine, aviation, and oil and gas industries where down time means money and the ability to create parts on-site is potentially revolutionary.

Novo Resources is upbeat about the latest mechanical ore sorting test results at its Beaton’s Creek conglomerate gold project in WA’s Pilbara region. The crushing and screening tests on one bulk sample have delivered a calculated head grade of 5.72 grams per tonne gold, according to the company. Three size fractions were tested and an impressive 90.2% of gold was recovered in 54.5% of the mass of the +18/-50mm fraction.

Image Resources’ positive 2019 cashflows have provided for a significant expansion to its exploration budget and the company has since ploughed nearly 13,000m worth of drilling into its WA Boonanarring mineral sands project in WA in a bid to add additional reserves to its mining inventory with the out wide possibility of a new discovery. Best numbers include 4m at 27.1% HM from 8m downhole.

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.