Public Company News

ASX-listed MGC Pharmaceuticals are on schedule to complete a major commercial and operational milestone, with their medical grade cannabis extraction facility nearing completion in Slovenia. The new facility will allow the Perth-based company to ramp up its production of cannabis derivative cannabidiol to 3,000kg per year.

Bringing one of the world’s largest Lithium mines into production would be enough for many companies, however Neometals are keen to show they still have much more in their armory. They recently unveiled potentially lucrative new technology for recycling cobalt from used Lithium ion batteries that could produce a net present value of at least US$84m over 10 years.

Neometals have dealt themselves into an even better position at the newly commissioned Mt Marion Lithium mine by securing improved off-take and mining services agreements with their major partners. The new agreements effectively boost production by 20% and give Neometals upside exposure to the tightening global Lithium market.

ASX-listed Sky and Space Global has signed a deal with the US Defence Department that will ensure the Perth company’s nano-satellites are kept safe as they orbit the earth in space. The agreement comes as the company counts down to the launch of its first 3 trial voice, text and data nano-satellites in the second quarter of this year.

Online CV screening and verification company CV Check has bolstered its board with the appointment of experienced public company director George Cameron-Dow as Non-Executive Director. He is also a non-executive director of ASX listed EVE Investments and previously sat on the boards of Bioxyne Ltd, Windward Resources and Xceed Capital.

In a bold move, ASX-listed MGC Pharmaceuticals has announced it will undertake a new clinical trial to detremine how medicinal cannabis could potentially treat young epilepsy sufferers. The Perth-based company believes the study could present a significant commercial opportunity in the medical marijuana space and it may add a third revenue stream for the company. 

Auroch Minerals have played hardball with AIM listed Xtract Resources over an unpaid debt owing to Auroch for the sale of the Manica Gold Project in Mozambique in March last year. Under the terms of the original AUD$12m sale, Xtract were able to defer USD$2.5m until three months after the sale but only managed to pay down about USD$850,000 of the final USD$2.5m 

Blackham Resources have all the funding they need to charge ahead with a doubling of production from 100,000 ounces to 200,000 ounces of gold per annum following a heavily oversubscribed placement that raised $35 million. The money will be used for a massive drill program, the progressing of a feasibility study to double production and to order long lead time items.

ASX-listed MGC Pharmaceuticals has completed the acquisition of Czech-based medical cannabis company Panax Pharma. The deal will boost MGC’s research capabilities by giving the company access to leading growing and research facilities in the Czech Republic.  MGC said it had settled on a binding heads of agreement to acquire up to 100 per cent equity in Panax. 

ASX listed PharmAust’s wholly owned subsidiary Epichem has posted a record monthly revenue result for January. Pharmaust is developing a promising anti-cancer drug known as “Monepantel” at the Perth based Epichem facility that also undertakes contract work for some of the worlds leading pharmaceutical companies 

Australia has a new Lithium producer and WA’s Lithium boom is well and truly underway. Neometal’s giant Mt Marion mine near Coolgardie, this week joined the ranks of Lithium producers as the first shipment of concentrates sailed for delivery to Chinese partner Ganfeng Lithium. Ganfeng will take 100% of the project concentrates for the next three years.

Lithium Australia say they would have one of the world’s largest Lithium development and exploration portfolio’s under one roof if shareholders of fellow ASX listed Lithium player Lepidico accept their audacious takeover bid launched today. It would also bring together two Lithium processing technologies under one roof and end the costly IP legal battle between the parties.