Public Company News

Novo Resources has taken another significant step as it charges towards production in the Pilbara, this week appointing two well credentialed mining men to oversee the company’s transition from explorer to gold producer. The move follows hot on the heels of the company completing the acquisition of Millennium Minerals and its mothballed Golden Eagle mill at Nullagine in WA earlier this month.

ASX-listed explorer, Comet Resources, has finalised a US$20 million “streaming” facility with Raptor Capital International for the potential development of its high-grade Santa Teresa gold project in Mexico. Historical drilling at the project intersected some bonanza gold hits including 1m at an incredible grade of 958 grams per tonne, or a whopping 33 ounces of gold to the tonne.

Kairos Minerals’ exploration program in the Pilbara looks to be delivering in spades with recent sampling across the Kangan project defining two extensive gold anomalies a mere 20km south of De Grey’s world-class Hemi gold discovery. The sampling at Kangan forms part of the company’s larger exploration program in the region which includes a bevy of surface sampling, drilling and geophysical surveys.

Horizon Minerals has offloaded its “non-core” Nanadie Well copper project in the Murchison district of WA as it progresses a massive 70,000m aircore, RC and diamond drilling campaign at its flagship Boorara gold project near Kalgoorlie. Horizon is already producing gold near Kalgoorlie under a toll treatment arrangement and the company has a plethora of satellite projects that it hopes to bring into production around Kalgoorlie.

Godolphin Resources has taken a second look at its Lewis Ponds project in NSW that was previously thought to be prospective for lead and zinc but now looks to be potentially even more lucrative for gold and silver. An extensive 1300m long gold and silver surface geochemical anomaly has delivered soil samples kicking as high as 6.2 g/t gold and 26.1 g/t silver.

ASX-listed gold explorer, Anglo Australian Resources, has continued to hit some very encouraging deep, down-plunge extensions to the known mineralisation at its historic Mandilla gold project 20km south-east of Kambalda, with further wide auriferous zones encountered at Mandilla East.

ASX-listed lithium hopeful, AVZ Minerals, says it is knee-deep in negotiations with potential offtake partners and debt financing providers to breathe life into the staged, US$545 million development of its Manono open-pit lithium and tin project in the Democratic Republic of the Congo that boasts one of the largest hard-rock lithium deposits on the planet.

Perth based oncology company, PharmAust, has confirmed the anti-viral potential of its Monepantel drug in the fight against COVID-19 and firmed up its strategy for other potential treatments using the drug, including treating cancer in dogs and treating human neurodegenerative disease.

Northern Minerals has banked the majority of the almost $10 million lifeline the Australian Taxation Office promised it after settling a protracted research and development grant dispute that played havoc with its balance sheet. The company has banked $8.64 million from the ATO and a further $1.3m is due in by the end of the week. Northern used the money to repay $2m in debt.

St George Mining continues to gain momentum at the Mt Alexander nickel project with its latest round of metallurgical test work returning excellent results that show solid nickel and copper concentrate grades with promising recoveries of both metals. The concentrates also show a wealth of by-product credits that include lucrative levels of platinum group metals, silver and cobalt.

ASX-listed Indonesian gold hopeful, Sihayo Gold, is close to wrapping up a massive $40 million capital raise that will see it emerge debt-free and cashed up to fund an aggressive exploration program at its underexplored tenure in the world-class gold setting of North Sumatra. The cash injection will also allow the company to step up plans for the potential US$144 million development of its namesake 1.5Moz “starter” gold project.

Reconnaissance work over Victory Mines’ Bonaparte project in WA is already paying dividends, with both rock chipping and resampling of historic drilling returning high-grade copper samples including outcropping mineralisation which grades up to a bumper 25.9 per cent copper and 13.7 g/t silver. Victory’s back-to-basics approach has outlined an extensive copper anomalism with drilling scheduled to kick off in the coming months.