Public Company News

Greenland Minerals has raised $7m through a heavily oversubscribed share placement to fund ongoing technical development of its giant Kvanefjeld rare earth project in southern Greenland. Proceeds from the placement will also be used to complete the project permitting and advance commercial development. The company recently lodged its application for a mining licence over the Kvanefjeld project.

Anglo Australian Resources has intersected encouraging, high-grade gold intersections at its Mandilla East and Mandilla South prospects, part of the Mandilla gold project located 75km south of Kalgoorlie, WA. At Mandilla East, multiple intercepts were returned beneath an existing supergene zone, including 2.7m @ 46.1g/t gold from 123.3m down-hole, which incorporated a metre intersection grading 122.3g/t gold from 124.3m.

Australian Potash has flagged that it will soon upgrade mineral resources and define a maiden ore reserve at its Lake Wells sulphate of potash project near Laverton, WA, following the milestone completion of final field programs. The programs were carried out in support of the company’s ongoing definitive feasibility study, for which final documentation is currently underway.

Vonex has marked another quarter of sales growth with revenue rising 11.4% year-on-year to $2.35m for the quarter ended 30 June 2019 due to its success in penetrating the Australian market for telco services to small and medium enterprises. The company is also in the final stages of testing its Oper8tor app, which enables users of multiple communication platforms to communicate with each other.

Northern Minerals is ramping up the development of its Browns Range heavy rare earths project near Halls Creek, WA, by purchasing an ore sorting module to upgrade mill feed, potentially doubling the ore grade and reducing operating costs. The company recently obtained commitments for a $30 million placement split into three roughly equal tranches, the first of which totalled $11.9m and was received last week.

King River Resources has started reconnaissance geological exploration field programs and rock chip sampling over several newly granted exploration licences that lie along strike from its Mt Remarkable gold project near Kununurra, WA. The field work has already unearthed new occurrences of quartz-feldspar veining, similar to the very high-grade Trudi Vein system located at Mt Remarkable.

Lithium Australia has firmed up its alliance with Chinese battery manufacturer DLG Battery with the formation of a joint marketing division that will provide a range of lithium-ion batteries, or “LIBs”, with a focus on industry-scale energy storage products. The new Soluna Australia division will also provide technical support, customer service and custom products for large-scale storage applications.

Hammer Metals is cashed up to carry out its maiden drilling program at the Bronzewing South gold project in Western Australia next month, after raising more than $1.76m through a placement priced at 2 cents per share. The company is carrying out an induced polarisation survey to refine potential drilling targets identified during the initial field reconnaissance programs.

Classic Minerals has generated high-grade gold intersections from drilling at its emerging Kat Gap project near Southern Cross, WA, which have doubled the strike length of the ore system to 400 metres. The program targeted the ore body along strike and produced exceptional, shallow drilling results including 7m @ 24.3g/t from 24m down-hole, 9m @ 15.2g/t gold from 22m and 10m @ 8.2g/t from 7m in separate holes.

Kairos Minerals has recovered 223 gold nuggets weighing a total of 21.1 ounces that were hosted directly within a conglomerate unit, from a newly identified area at its Croydon project in Western Australia’s Pilbara region. The company said the discovery is analogous to the basal gold-bearing conglomerate horizon discovered by Canadian explorer Novo Resources at the Purdy’s Reward project more than 100km to the west northwest.

Calidus Resources has intersected high-grade gold with a bonanza hit of 1m @ 107.2g/t gold from 36m down-hole in a broader intersection of 13m @ 11.1g/t gold from 30m, during infill drilling at the Klondyke-St George shear-hosted deposits within its Warrawoona project, near Marble Bar, WA. The drilling campaign is aimed at upgrading mineral resources and proving up additional ore reserves to support the company’s BFS.

Alterra has appointed Brett Heather as its chief operating and technical officer as it prepares to address opportunities in Australia’s high-value avocado sector. Mr Heather helped transform the avocado category with one of Australia’s leading retailers by driving cost efficiencies from field to fork, improving post-harvest handling and implementing technology to ensure that consumers received the best possible product.