Public Company News

ASX-listed PharmAust Limited has chalked up a remarkable success with its rapidly developing “Monepantel” anti-cancer drug after its latest trial on man’s best friend showed a significant turnaround in the health of dogs suffering from naïve B cell lymphoma. One dog achieved greater than 60 per cent reduction in tumour burden, with one of its tumours regressing completely.

ASX-listed AVZ Minerals has shifted gear into the planning and execution phase of its giant lithium and tin project in the Democratic Republic of Congo that is expected to spit out some $600m a year in EBITDA. AVZ’s technical team is now putting effort into seeking tenders from companies identified in the DFS for various work packages required for the construction phase.

Hammer Metals has received results from the first phase of its JOGMEC joint venture exploration program at its Mount Isa Project in Queensland and they have thrown up some pulse quickening numbers from rock chip samples including 6.7 grams per tonne gold and 28.2% copper. The positive results have now triggered the second phase of work.

ASX-listed Horizon Minerals has broken ground at its Boorara gold deposit just 10km east of Kalgoorlie’s super pit with first gold now expected to be produced at the nearby Lakewood mill in July this year. Horizon said it has now bagged up all necessary approvals and permits and has $4 million in capital ready to deploy with Hampton Transport set and on call to haul the ore.

ASX-listed 88 Energy has released its bidders statement in support of its off-market takeover of fellow Alaskan-focused oiler, ASX-listed XCD Energy. Both boards have given unanimous support recommendations to shareholders for the proposed takeover that was announced last week. The offer is 2.4 new 88 Energy shares for each XCD share held and 0.7 new 88 Energy shares for each XCD Energy listed option held.

In a remarkable move, Deep Yellow has managed to convert nearly 100 per cent of one of its world-class uranium resources at the Tumas 3 deposit in Namibia from “inferred” to the higher confidence, “indicated” category, upgrading just over 24 million pounds of eU3O8 grading 313 parts per million. The uranium developer said that the global Tumas 3 mineral resource now stands at 36.8Mlb grading 328ppm eU3O8.

In an extraordinary demonstration of its aim to “close the loop” on the energy-metal cycle, Lithium Australia has tabled its initial results from test work using recovered alkaline battery metal dust to create a micro-nutrient supplement for plant fertilisers. Lithium Australia conducted “glasshouse pot trials”, growing wheat in a variety of controlled scenarios including using the recycled dust.

Adriatic Metals has expanded its footprint in the Balkans by moving to acquire TSX-listed Tethyan Resource Corp and its basket of in-country poly metallic assets ranging from historical mines and established resources to some very compelling exploration ground in Serbia. The deal will expand Adriatic’s land holdings in Europe to over 301km2 across Bosnia and Serbia.

Great Southern Mining has re-stocked its financial armoury with commitments received to raise $3.15M in a placement that will see the ASX-listed company turbo charge its exploration program at its Cox’s Find gold project in Western Australia. Prior notable results from its maiden drilling program include 5 metres grading 14.54g/t gold and 5m grading 31.23g/t

Venus Metals has lodged four new tenement applications about 50 kilometres northwest of Menzies in Western Australia and it has identified some interesting gold and nickel targets by conducting a historical data review at the project. The project is nestled on the boundary between the revered Youanmi and Kalgoorlie Terranes in the central section of the Yilgarn Craton.

For the fourth time in as many weeks, Middle Island Resources has ferreted out another emerging deposit less than a kilometre from its mothballed 600Ktpa processing plant in Sandstone, underlining the company’s intention to restart gold mining in the historic West Australian mining precinct. New results have extended the Plum Pudding deposit to the south and include 3m grading 3.72g/t from 29m and 10m grading 3.08g/t from 41m.

Local heavy rare earths producer, Northern Minerals, has executed a letter of intent with Soluna Australia to develop a renewable energy power plant and battery storage facility at Northern’s Browns Range mine in the East Kimberley region of Western Australia. Soluna Australia is the energy storage division of ASX-listed Lithium Australia and Chinese joint venture partner, DLG Energy.