Public Company News

Novo Resources surged 60% to touch 14.5c in intraday trading after the market got a good look at the value of its shareholding in unlisted Canadian miner San Cristobal. Novo offloaded 38% of its holding in San Cristobal for $11.5m, valuing the remainder of its shareholding in the private company at $19m. Novo now has $16.7m in the bank.

GreenTech Metals has completed planning for up to 4000m of diamond drilling for its second phase program at the company’s Whundo volcanogenic massive sulphide–style copper-zinc project in WA’s West Pilbara. The campaign seeks to confirm the potential for and likely scale of one or more base metals resources lurking below the shallow historic Whundo and Ayshia open-pits and within the 2km-long zone separating them.

Octava Minerals has spotted visible signs of the critical mineral, antimony, in drill holes at the company’s Yallalong project that sits in the Mid West region of WA, with assays due early next year. Drilling is nearly complete at the company’s Discovery prospect with the rig then set to move to its Central antimony prospect for a maiden nine-hole program.

In the wake of the recent Chinese ban on the export of critical minerals such as gallium that is used for semi-conductor chip manufacturing, a state government research institute is about to kick off a study that will examine the metallurgy of Terrain Minerals’ curious gallium discovery in WA’s Mid West region. The study will be done by the Minerals Research Institute of WA that is tasked with addressing knowledge and technology needs in the minerals industry.

Larvotto Resources has scored $30 million from new and existing investors, ensuring it is well-funded to intensify exploration of its Hillgrove antimony-gold operation near Armidale in NSW. The placement will see 57.7 million shares issued at 52c apiece and follows on from the company recently banking a total of $14.2m from an offtake pre-payment and option conversions.

Octava Minerals has agreed to sell 100 per cent of its Talga gold, base metals and lithium project in WA’s Pilbara to Global Lithium for $200,000 in cash and a further $200,000 by way of Global Lithium stock. Global Lithium will acquire Octava’s seven Talga project tenements though a 100 per cent owned subsidiary with the share consideration based on its 5-day VWAP prior to completion.

BMG Resources has launched a round-the-clock diamond drilling campaign at its Abercromby gold project near Wiluna to expand the current 518,000 ounce resource. The drilling will probe high-grade gold zones at Abercromby and initially seek a resource expansion through extensional drilling of high-grade gold zones beyond the existing resource model.

Lithium Universe has inked a strategic chemical supply deal with Quebec-based logistics company Servitank which the company believes will improve the operational efficiency of its proposed Canadian Bécancour lithium refinery project. The partnership will bring much needed expertise in chemical logistics and supply chain optimisation to the project, positioning Servitank as a key partner of the company.

After months of preparation, Lycaon Resources has kicked off a highly anticipated maiden drilling campaign at the Stansmore prospect within its West Arunta project in WA. The program will target a high-priority magnetic anomaly, which the company says could be a niobium-rare earths carbonatite, an iron oxide copper-gold orebody or an intrusion-related gold deposit.