Public Company News

After a period of relatively low activity, ASX listed junior, Spectrum Rare Earths looks like it has stumbled across a potential company maker in Northern California. The Perth based company has locked down an option to purchase a mothballed, fully permitted gold mine that has historically produced around 250,000 ounces of gold at an amazing average grade of around an ounce to the tonne.

Northern Minerals’ heavy rare earths project at Browns Range in the East Kimberley appears to be timed to perfection following last week’s shock announcement of production cut backs by China. With construction of Browns Range on track to be completed next month, there could hardly be a better time for Northern to emerge as the only dysprosium source outside of China.

Strike Energy’s share price has been on a white knuckle ride over the last few weeks as investors desperately try to work out if it is going to be the next large cap gas producer in Australia, or fail whilst daring to create a new technical frontier in the search for coal seam gas riches. Strike significantly de-risked its Jaws-1 well this week with the installation of a liner and its fracture stimulation sleeves.

In what appears to be a serious opportunity for W.A, the smart money in the lithium space is now moving downstream into the production of lithium-ion battery chemicals such as lithium carbonate and lithium hydroxide and the mining of lithium is now looking a bit like the poor cousin. Neometals has kicked off its engineering and design study for a proposed Kalgoorlie lithium hydroxide plant.

In what looks to be an astute move, Calima Energy is set to race from 20% to outright ownership of its coveted Montney shale liquid/gas project in Canada through friendly, all-scrip takeover bids for its joint venture partners. The Perth-based junior has secured board recommendations and pre-bid acceptances from several major shareholders in a deal that will bulk up its profile in the revered oil and gas basin

Hot Chili has announced a $4m placement to fund a drill program at the El Fuego copper project in Chile. The program is aimed at increasing high grade mineral resources and extending the initial mine life of the flagship Productora asset beyond 10 years. The small scale mines at San Antonio and Valentina will be targeted first, having defined potential for extended shallow, high grade copper sulphide mineralisation

Phylogica has continued its march towards commercialisation of its game-changing drug delivery platform, after the Perth company boosted its disease-fighting genome library in the March quarter. Phylogica said it has improved both the complexity and biodiversity of its collection of genomes as it progresses its journey towards animal-based clinical trials of the unique intracellular drug delivery technology.

Geopacific has announced a $10M placement to advance its resource development drilling at the Woodlark gold project in PNG. The company is completing a DFS and the new drill programs are aimed at increasing resource and reserve inventories to extend the initial mine life beyond 10 years. The capital raise had strong support and the company said it could now potentially triple its gold endowment.

In a tour de force of drilling expertise, Strike Energy and its big-name drilling contractors have successfully completed one of the most difficult wells ever attempted onshore in Australia. Strike reported that the Jaws-1 horizontal well had met its objectives and was being prepared for hydraulic stimulation, sending the junior explorer’s shares up by more than 10%.

Is it a zinc play ? Is it a lead play ? Is it a gold play ? Is it a copper play ? Perhaps a silver play ? How about a barite play ? Investors may well be asking these questions of the Adriatic Metals float that will debut on the ASX today with a multi-mineral beast of a deposit in mineral rich Bosnia. Base metals giant Sandfire Resources has ploughed $2m into the float and will hold nearly 8% of the company.

ASX-listed specialist pumping company Babylon Pump and Power is in full swing, with the company reporting robust revenues for the March quarter on the back of strongly performing specialty rental and diesel businesses. The recently listed Kalamunda-based company says year-to-date revenues have now hit $1.5m as it accelerates its rental, rebuild and maintenance offering in the resurgent mining sector.

Lithium Australia’s large scale pilot plant to be based on its SiLeach processing technology has received a boost, with test work achieving a breakthrough that improves lithium recoveries and enhances the production of a key by-product. The results have led to an innovative change to the process that has the potential to reduce capital and operating costs and strengthen the project economics.