Public Company News

Australian Potash’s Yamarna gold project could host a northern extension of Gold Road Resources’ high grade gold targets to the south. This includes an anomaly similar in scale to Gold Road’s Ibanez prospect. The company is now finalising a second stage drill program that will include reverse circulation drilling to test the depth and primary mineralised structures.

Geopacific has initiated a major exploration program at its Woodlark gold project in PNG. The company recently raised $10m and will channel the funds towards increasing its mineral resource inventory with a view to extending the proposed mine life beyond 10 years. Drilling will focus on under-explored, high grade structural corridors and historical targets between and adjacent to the large Kulumadau and Busai gold deposits.

Legend Mining has unearthed a third nickel-copper mineralised intrusive of magmatic sulphides within a host rock similar to the famed Nova-Bollinger deposit, at its Rockford project in the Fraser Range. The new result of 37m @ 0.25% nickel and 0.03% copper from 78m depth, was substantiated by rock petrology identifying nickel sulphides in a highly prospective olivine rich gabbronorite rock mass.

Calidus Resources has achieved success in a major resource drill out at its Warrawoona gold project in the Pilbara. Results of up to 10m @ 3.84g/t gold from 27m down-hole at the Coronation prospect have confirmed a strike length of about 250 metres for the prospect. The company also reported it had extended the Klondyke mineralisation another 150m down-plunge with strategic deep diamond drilling.

Capricorn Metals expects to secure financing for its Karlawinda gold project in the Pilbara in the September quarter after optimisation work increased the project net present value from $144m to $243m. Other improvements include an IRR of 36% from 31%, payback in just 2.5 years instead of 3 years, a 10% reduction in capital costs to $132m and a 2 year increase in mine life to 8.5 years.

Aquabotix will have the opportunity to bid on research and development projects after joining the Innovative Undersea Prototype Development Consortium. The Consortium supports a US Navy program that seeks to address the endurance and data transmission challenges faced by unmanned underwater vehicles.

St George Mining has announced 4 new drill ready electromagnetic conductor targets at its Investigators prospect, 100km west of Leonora in the northern Goldfields of W.A. The best target is interpreted to be 120m down-plunge of an intersection of 5.3 metres grading 4.95% nickel, 2.75% copper, 0.16% cobalt and 4.55 grams per tonne total PGE’s from 157.9m down-hole.

Sky and Space Global, has signed a deal with China’s Beijing Commsat Technology Development Co. that provides a fast entry into China’s burgeoning “internet of things” market for the Perth listed upstart telco. The parties will explore how Sky and Space’s nano-satellite technology can be incorporated and used to advance and enhance the current network offering from Commsat Technology.

Hammer Metals has made its best ever intercept of 41 metres @ 0.18% cobalt, 0.11g/t gold and 0.23% copper from 14m down-hole representing the true width of the mineralisation at the Millennium project near Cloncurry in QLD. Drill results will now be reviewed before carrying out further exploration on the higher grade southern portion of the resource ahead of preliminary metallurgical studies.

Aspire Mining’s proposed railway line in Mongolia is firming up as the Russian and Chinese Government’s recognize the strategic value of Mongolia as a transport hub. Aspire is now evaluating a dual transportation option for its Mongolian coking coal after Russia and Mongolia signed off on a long-awaited agreement for transporting goods. Under the deal, coal exports will receive a 66% discount on the Russian rail system.

Altech Chemicals has potentially overcome some CAPEX hurdles for the construction and development of its HPA plant in Malaysia, executing a non-binding stream financing term sheet with a US-based global investment group for USD$60m. With USD$190m already committed by the German Government-owned KfW IPEX-Bank and a term sheet for mezzanine debt from a global merchant bank for USD$90m, it is unlikely that Altech will need to raise much equity to kick -off project.

Coolgardie Minerals will look to create an early cash machine from the Bullabulling Gold Project near Coolgardie to fund its exploration program on a number of other exciting prospects that it will take to IPO in July. The Neil Warburton-chaired company is targeting the Bullabulling shear zone that already hosts millions of ounces in the region.