Public Company News

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.

A decrease in Chinese production of dysprosium highlighted by research commissioned by Northern Minerals, has placed an increasing focus on the company’s Browns Range rare earths project. Chinese production has dropped by 34% since 2013 and research consultants Adamas Intelligence believe Chinese production will be insufficient to cope with global demand for the burgeoning electric vehicle market.

A big oil and gas liquids discovery near Calima Energy’s acreage in the Montney Basin has added yet more backing for the company’s early move into one of the hottest shale basins in North America. The nearby discovery tested at more than 2,000 barrels of oil equivalent per day and was rich in highly prized condensate and other natural gas liquids. Calima's move into the area is starting to look smart.

Heavy rare earths developer Northern Minerals has begun commissioning its Browns Range project in the East Kimberley just 12 months after the board approved the pioneering development. The on-site power station has fired up and allowed the successful commissioning of the crushing circuit, in a major step towards first production of heavy rare earth carbonate in July.

Emerging graphite developer Volt Resources has exchanged binding off-take agreements with its Chinese counterparties in a bid to get the finer details of the agreements signed off and set in stone ahead of initial production at the company’s Bunyu project in Tanzania. Volt also said its Stage 1 feasibility study, development funding, statutory approvals and construction contracts are on schedule

Metalicity has commenced RC drilling at the Yerrida Basin near Wiluna and will look to follow up on previous positive indicators at the project that show cobalt may be present. The latest campaign will investigate the project’s geological setting, which is considered analogous to the Central African Copper belt that hosts structural/stratigraphic-controlled copper-cobalt and nickel-cobalt sulphide mineralisation.

Emerging mineral sands producer Image Resources has set a good example for the WA mining industry by embracing solar power for its high-grade, zircon-rich Boonanarring development just north of Perth. The company has struck a deal with Perth-based Sunrise Energy Group that will see a 3-4MW solar farm built next door to its mineral sands project and supply about 25% of its power.

Algae.Tec has received the tick of approval from one of the largest aquariums in the world to supply it with its algae-based product as the Perth health sciences company continues to aggressively push into the lucrative US aquarist market. Algae.Tec’s FeedMe product has been approved for use at the Georgia Aquarium, which receives over 2.4 million visitors annually and houses 100,000 marine animals.