Public Company News

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.

Big River Gold said this week that a usually insignificant waste mineral known as “mica”, could potentially make the company some good money at its Borborema gold project in north-eastern Brazil. Perth-based consulting group, Wave, identified the potential to process and extract the mica minerals and sell them as a separate, commercially viable product. The micas make up approximately 30% of the volume of the Borborema deposit and carry half the gold grade.

Strike Energy is firing on all cylinders, tabling a maiden resource of a massive 1,185 billion cubic feet of 2C gas at its West Erregulla-2 well in the Perth Basin of Western Australia. Strike’s gas play is arguably Australia’s largest onshore conventional gas field and the company’s excitement is still building with multiple targets at West Errugulla underpinning the potential for the gas resource to grow even further.

Coziron Resources will soon be on the ground at its Croydon Top Camp project in WA’s Pilbara region, after expanding its gold target zone by re-assaying historic samples that peaked at 4.9g/t gold. The company has secured a rig and is preparing to drill approximately 2000m across some very prospective rock sequences, where a prospector recently recovered an astounding 203 gold nuggets in the area.

AVZ Minerals’ quest to develop the giant Manono lithium project in the DRC has been given a major shot in the arm after it received $14.1 million from Chinese lithium chemical producer, Yibin Tianyi. The strategic investment, which could lead to an offtake agreement, will allow AVZ to increase its stake in the project and start early development works as it completes Manono’s definitive feasibility study.

Kairos Minerals has defined a coherent, 2.5km long gold and copper in-soil anomaly where company Geologists also stumbled across some lucrative looking rock chip samples grading up to 16.8% copper and 4.3g/t gold at its Croydon project, located near Port Hedland in WA. The soil anomaly contains a coherent, higher-grade core that stretches over 1.5km, with best numbers going around 200ppb gold.

Terrain Minerals has optioned up its Great Western Gold project near Leonora for potential sale to ASX-listed Red5 for $2,500,000. The Great Western gold project is situated on a granted mining lease and contains a 63,000-ounce resource. Terrain will retain its Wild Viper project, which fully envelopes the Great Western project. The sale of Great Western will see Terrain cashed up and on the hunt for new projects.