Public Company News

This week’s Bulls N’ Bears Runner of the Week is … MRG Metals. Its shares jumped 400 per cent on the back of it signing a binding joint venture agreement for its Corridor Sands project in Mozambique to see it join fellow movers and shakers NeuRizer, Reach Resources and Pearl Gull Iron.

The Federal Government has paved the way for Triangle Energy Global to complete the $15 million sale of its Cliff Head oil assets off the WA coastline after approving the site for permanent offshore carbon storage. The approval confirmed today by Resources Minister Madeleine King will allow Pilot Energy to acquire the project, while Triangle will set a stronger focus on its Perth Basin targets.

Ardea Resources’ high-tech mineral processing technique has boosted the nickel-cobalt inventory at its Goongarrie Hub project near Kalgoorlie in Western Australia and earned it a healthy Federal Government grant of $1.1 million. It comes less than two months after a giant Japanese consortium committed to backing the development of the project described by the Federal Government as “globally significant”.

Lithium Universe has cleared another key component in its plans to develop the proposed Bécancour lithium refinery in Canada after the successful completion of two environmental field studies at the site. In February, the company secured a prime location for its proposed refinery after executing an option agreement to purchase a commercial property in the province of Quebec.

Aurum Resources is building its bank balance ahead of a beefed-up exploration blitz across its Boundiali gold project in Côte d’Ivoire, with a maiden JORC resource expected before the year’s end. Management has received firm commitments from a $17 million two-tranche placement and is also offering eligible shareholders a shot at a $3 million share purchase plan in a bid to pocket about $20 million.

GreenTech Metals is putting the finishing touches on a new 2200m reverse-circulation drilling plan aimed at lifting the resource numbers at its Whundo volcanogenic massive sulphide deposit in Western Australia’s West Pilbara region. The move follows the company’s detailed review of the old Whundo and Ayshia deposits and other spatially or geologically-related targets identified between the two zones, primarily from fixed-loop electromagnetic geophysics

Middle Island Resources has secured the maximum $300,000 grant from the NT Government, which the company says is an endorsement of the significant targets at its Barkly copper-gold “super-project” in the Top End. The co-funded payment will enable the first-round testing of a spread of iron oxide-copper-gold targets at its Georgina project and one deep diamond-hole at its Bedrock prospect within the Barkly ground.

Triangle Energy expects to have the drill rods turning late next month at its Booth-1 well in the North Perth Basin after the company today confirmed the rig will soon be released to the joint venture project. Management says Booth hosts a prospective resource range of between 113 and 540 billion cubic feet of gas (Bcf), with a best estimate of 279Bcf.

Lindian Resources has shortlisted two experienced contractors to vie for the prize of designing and constructing a processing plant at the company’s hulking Kangankunde rare earths project in the south-east African nation of Malawi. Management, which is close to completing a stage-one feasibility study for the project, says both firms have a track-record of delivering significant-scale mining and processing operations in several African countries.

Classic Minerals has pumped up the combined indicated resources for its Lady Ada and Lady Magdalene deposits to establish a new mark of 69,966 ounces of gold at the company’s Forrestania project near Southern Cross in Western Australia. Management says its inferred resource for the two projects now shows more than 227,613 gold ounces, bringing the combined indicated and inferred resource to 297,579 ounces.

Reach Resources’ mission to find the mineralisation source at its Wabli Creek project in Western Australia’s Gascoyne region appears to have paid off, with samples chipped off the bedrock at the site returning 17.65 per cent niobium oxide. A recent geophysical data review at the operation identified an oval-shaped magnetic intrusive it believes is linked to the source of niobium, yttrium and rare earths mineralisation.

Image Resources has launched the on-ground construction activity for its Atlas heavy mineral sands project in Western Australia’s North Perth Basin as management ramps up the operation’s proposed development. The company plans to soon start building a new accommodation camp at Atlas and will also dismantle and transfer the wet concentrator from its now-completed Boonanarring mining project.