Public Company News

Chinese engineering firm Sinosteel MECC have agreed to defer $12m of the $60m needed to build Northern Minerals rare earths pilot plant until after the mine starts producing. Taking the money from future cashflow rather than borrowing it, dramatically changes the deal metrics and sets the company up to be Australia's first heavy rare earths producer in 2017. 

David Perlmutter, the heavy weight former Executive Vice President at Intel Corporation, is headed to Australia next week in his role as Chairman of ASX listed tech company Weebit Nano and will meet investors in Melbourne, Perth and Sydney. His involvement with a junior technology company is curious and has local tech heads speculating about where the company is headed. 

Pilbara Minerals’ Pilgangoora Lithium deposit is growing like topsy, with the ASX-listed Lithium developer flagging another reserve upgrade after releasing exceptional results from the latest drilling program. The looming upgrade, would strengthen Pilbara Minerals’ case for doubling mine throughout and dramatically improving the economics of an already lucrative project.

ASX listed PharmAust has revealed a timetable for the development of its promising anti-cancer drug as the Perth-based company moves ahead with human and canine trials. After pleasing results in Phase I human tests of its “Monepantel” drug, the company is pushing ahead with Phase II canine trials.

Legend Mining’s systematic search for the next Nova-Bollinger deposit in the Fraser Range in W.A is looking increasingly positive with a big reconnaissance drill program yielding excellent first pass results. The company reported this week that their regional aircore drilling program had intersected favourable nickel-copper host rocks in 10 of the 64 drill holes.

Sipa Resources’ search for a nickel-copper sulphide deposit in Uganda that can rival the famed Nova-Bollinger deposit in W.A, is looking more encouraging with each new set of assay and drill results. The latest set of numbers from the company's drill program at the Akelikongo nickel-copper project have returned strong hits of up to 2.4% nickel and 2% copper.

ASX listed Shark Mitigation Systems have achieved scientific validation of their unique, patented, shark deterrent wetsuits after the University of W.A completed a ground breaking trial of the company’s “SAMS” wetsuit technology with live white sharks in South Africa. The results, which are quite stunning, show that it took a shark 400% longer to engage with a SAMS wetsuit.

Lithium Australia have expanded their tenement holdings near one of the world’s largest Lithium deposits at Greenbushes in in WA and will apply their unique new exploration technology to search for additional deposits along strike. The Lithium technology and exploration company will also exercise their option to move to 49% of the exciting Electra project in Mexico. 

Lithium Australia have chalked up yet another breakthrough technology with the development a world-first portable assay tool that measures lithium grades in soil sample in the field. The new system, developed with US-based SciAps over the past two years, promises to slash exploration costs and boost discovery rates just as the global boom in lithium demand takes off.

Sipa Resources have hit extensive sulphides from their latest drilling at the Akelikongo prospect in Uganda, confirming the presence of a large nickel-copper system and extending the footprint of their earlier discovery. The latest drilling has also verified the Subiaco explorer’s ideas about where to drill for the core of the deposit, boosting the odds of a major discovery.

In a sure fire sign that the Chinese are becoming insatiable for our Lithium and will take it any way they can get it, Pilbara Minerals have signed a deal with a Chinese Lithium Carbonate manufacturer to supply direct shipping ore straight out of their Pilgangoora mine near Port Hedland without it even being processed - and the Chinese will pre-pay $10m for the privilege. 

Blackham Resources’ plans to double their Matilda Gold production have been boosted by solid new drill results that pave the way for another resource upgrade. The latest round of drilling found the mineralisation at Wiluna is more extensive than previously thought and amenable to open cut mining in some areas, providing a major boost for the economics of a proposed expansion.