Public Company News

Geopacific Resources has revealed a 78% uplift in the estimated pre-tax net cash flows from its Woodlark gold project in PNG, based on gold prices at AUD$2,000 per ounce, compared with the base case scenario of AUD$1,650 per ounce used in last November’s DFS. The fully permitted and proposed low strip ratio open pit operation provides life of mine margins near AUD$1,000 per ounce, with payback in 1.4 years.

Coziron Resources has received further clues directing its gold exploration efforts at the Croydon Top Camp project in WA’s Pilbara region, after receiving a detailed report from a prospector who recovered 203 gold nuggets in the area. Information from this report has been integrated with other geological and geochemical data from Croydon and will be used to identify and prioritise targets for further field programs.

Kalia has restructured its board ahead of regional exploration programs seeking porphyry copper/gold mineralisation on Bougainville Island, with the addition of two resource industry veterans as its directors. Michael Johnston, who will be the company’s Director Corporate Development and Strategy, has extensive experience in PNG and the Asia Pacific and was Placer Dome’s GM of exploration in the early 2000s.

Buru Energy has spudded the Adoxa-1 conventional oil exploration well targeting the potential for multiple stacked reservoirs within the greater Yakka Munga regional structure in the Canning Basin, Western Australia. A success at Adoxa-1 will supplement and enhance the company’s existing reserves and production cashflow from the nearby Ungani Oilfield and potentially unlock several follow-up structures in the area.

Black Rock Mining has significantly improved the project economics of its Mahenge graphite mine in Tanzania, by ramping up the proposed production rate from 250,000 tonnes per annum to 340,000 tonnes per annum at the request of its offtake customers. The company will add a fourth processing module at the operation to increase production of the highly sought-after, world-class premium graphite flake product.

Anglo Australian Resources’ drilling program has intersected gold mineralisation at two prospects within its Koongie Park project near Halls Creek in Western Australia’s Kimberley region. One of the holes at the Bull Dog prospect returned a peak result of 1m @ 11.27g/t gold from 22m down-hole while a hole at the Nicolsons East prospect returned 3m @ 1g/t gold from 23m, including 1m @ 1.49g/t gold from 24m.

ASX-listed mineral sands producer, Image Resources, has increased its EBITDA forecast from previous guidance by $15m to between $55m to $65m due to its Boonanarring project just north of Perth performing above expectations in several key areas. Projected operating costs have been lowered by about $10m to between $75m and $85m, while revenue guidance has ticked up to between $130m and $145m.

Hot Chili has generated another large porphyry copper-gold exploration target called Cortadera North, located adjacent to its Cortadera project in central Chile. The target covers two square kilometres and is defined by a coincident geophysical induced polarisation chargeable anomaly and strong surface enrichment of the element molybdenum, which are fundamental deposit signatures of the nearby Cortadera ore system.

Strike Energy has flowed significant, high-pressure gas to surface from the Basal Wagina formation, a secondary target at its multi-target West Erregulla-2 well in the Perth Basin, Western Australia. The company will now subdue the productive formation before drilling ahead to a depth of 4230m before running wireline logs over the entire second intermediate section to fully evaluate the potential of the Basal Wagina.

MGC Pharmaceuticals’ cannabinoid formulations have demonstrated effectiveness in fighting brain cancers in ground-breaking pre-clinical trials conducted in collaboration with the National Institute of Biology and University Medical Centre Ljubljana in Slovenia. The formulations inhibited the viability of cancerous glioblastoma cells taken directly from a patient and caused a significant fraction of the cancer’s stem cells to die.

Follow-up rock chip sampling by Hammer Metals has delineated gold mineralisation over 1km of strike length at the El Questro prospect within its Malbon project in Queensland’s Mount Isa mining district. Rock chip sampling along strike from the previous 99.4 gram per tonne gold result at the prospect returned top grades of 49.9g/t gold, 8.27g/t gold, 7.24g/t gold and 6.64g/t gold.

Greenland Minerals has formally applied for a mining licence over its giant Kvanefjeld rare earth project with Greenland’s Mineral License and Safety Authority confirming that the application has been received. A public consultation period of up to 12 weeks will soon commence and give interested stakeholders the opportunity to provide feedback on the project.