Public Company News

Perth based MGC Pharmaceuticals have planted their first medical cannabis crop at their licensed growing facility in Slovenia. The company’s first crop will be around 5000 square meters in area and will be used to evaluate the best soil, nutrients and growing conditions for the planting of future large scale crops. The harvest will be used for cosmetic and medicinal purposes. 

Red Mountain Mining have released the results from their much anticipated pre-feasibility study into the Batangas Gold Project just two hours drive south of Manila in the Philippines. The PFS shows the mine will churn out $46m in free cash over the initial 7 year mine life and produce gold at USD$735 an ounce from a maiden reserve of 128 000 ounces of gold. The project has plenty of upside from a further 320 000 ounces still sitting at inferred status.

Blackham Resources will make the leap from explorer to producer in September this year after the final approval to crank up the old Wiluna Gold plant was granted this week at the company’s Matilda Gold project in W.A. The company says the mine will churn out $234m in free cash over the initial 7 year mine life and will produce 100 000 ounces per annum. 

Sky and Space Global have passed a major milestone in their quest to catapult three miniature satellites, known as “nano-satellite’s” into space. European aerospace company GomSpace, who are contracted to manufacture the company's first three nano-satellites, recently announced that the Preliminary Design Review for the first three nano-satellites was complete.

Avid market followers will no doubt look to punt Legend Mining’s stock today at around .008c/.009c a share after the company announced they were commencing a 1050m drilling campaign to identify the source of three conductors at the Fraser Range. The ground is just 120km from Sirius Resources goliath Nova Bollinger nickel find and it is on a simular gravity tenor ridge.

Anti-Cancer drug hopeful Pharmaust will be fully funded to enter into Phase 2 human trials after well established New York investment bank Joseph Gunnar and Co agreed to underwrite the company’s next capital raise which will be done in the USA. Phase 2 trials are expected to start in a couple of months after their anti-Cancer drug is reformulated to make it more palatable.

Neometals have amassed an $80m war chest after banking another $19.65m paid by Mineral Resources, their partner in the Mt Marion Lithium project near Coolgardie in W.A.  The company has also formed a second 70:30 partnership with Mineral Resources for the purposes of creating the first Lithium downstream processing project in WA utilizing their proprietory process. 

ASX listed Sky and Space Global have wasted no time in achieving their first major milestone since being backdoor listed into Burleson Energy by Perth connections. In a sign that it is all systems go at Sky and Space Global, the company has now locked down a launch contract with a major European launch broker to catapult its first three “nano-satellites into space.

ASX listed Analytica’s unique medical device, known as the “AutoStart” burette, has now made the official approved list with QLD Health. Burette’s are disposed of approximately every 24 hours when a new one is inserted into an IV drip line making them a major consumable item in the health industry. Analytica are looking to secure a licensing deal with a major distributor.

Financial technologies company and ATM machine operator Stargroup will start to hit the radars of dividend seekers after their latest acquisition which will take the company’s estimated EBITDA from around $3.3m to $4.3m just 10 months after its back door listing. With a swag of tax losses from the original shell, Stargroup now looks set to start spitting out cash.

Sipa Resources systematic approach to their Akelikongo nickel-copper prospect in Uganda appears to be paying off with the discovery of a very encouraging 10m intersection grading 1% Nickel and another 4m intersection grading 1.8% Copper. With Cobalt fetching up to 3 times the price of Nickel, the company was also encouraged to see reasonable Cobalt numbers in the results.

Insatiable demand for Lithium in China has seen Neometals off take partner at the Mt Marion project in Coolgardie increase their contracted take or pay commitment for lower grade Lithium by 250%. Chinese company Ganfeng Lithium previously committed to take or pay for 100% of the 6% LIthium product and has now also commited to taking 200 000 tonnes a year of the 4%-6% product.