Public Company News

Kalgoorlie Gold Mining has turned the start key on its Pinjin project in Western Australia’s Eastern Goldfields, with hole collars and drill pads being prepared after management confirmed vital heritage clearance at the site. The company says discussions with traditional owners clarified that there were no Aboriginal heritage sites at either of its Kirgella Gift or Providence prospects and drilling is slated to start soon.

Buru Energy’s coffers are poised to swell by $4 million through the sale of a 72,500-barrel batch of Ungani oil to global giant BP. With the batch now lifted to ship, Buru is also set to assume full ownership of the Kimberley region oilfield, with joint venture partner Roc Oil to hand over its 50 per cent interest and approvals expected next month.

Cancer-fighting cell therapy company Chimeric Therapeutics has finished its fourth and final phase-1A dose escalation study at the City of Hope campus in the United States, with the successful treatment of a third clinical trial cohort using a scorpion venom derivative. The company’s “CHM 1101” (CLTX CAR T) treatment is designed to treat patients with glioblastoma cancers.

Altech Batteries has revealed a vital update for key aspects of its Silumina Anodes pilot plant in the German State of Saxony to help progress its definitive feasibility study for a 10,000 tonnes per annum operation. The company says permitting, site design and supplier quotations are also advanced. An earlier prefeasibility study returned a net present value of US$507 million (AU$787 million).

Galan Lithium has set a new record at its Hombre Muerto West project in Argentina’s world-renowned “Lithium Triangle”, pumping 981 milligrams per litre of lithium brine at 15 litres per second during testing. At the company’s Catalina tenement, the first diamond hole hit 300m of highly-fractured rock flowing at 6 litres per second following airlift, with fluid density of about 1216 grams per cubic centimetre.

Terrain Minerals is eyeing the potential to unearth gallium and germanium to complement the rare earths at its Lort River project near Esperance, where an air-core program recently intersected clay hosts. The 16-hole proof-of-concept program through 300m was designed to test for clay-hosted rare earths and rare semi-conductor mineralisation, with all holes intercepting clay zones to a maximum vertical depth of 38m.

An updated scoping study by PolarX for its Alaska Range copper-gold play shows a total EBITDA of US$573 million over a 9.5-year mine life at a post-construction average annual free cash flow of US$53 million. The positive study shows mining and processing are scheduled to begin with an open-pit operation at the company’s Caribou Dome site, followed by underground mining at its Zackly deposit.

BMG Resources is again cranking the drillbit, with a 36-hole air-core (AC) drill program to home in on multiple, high-quality lithium and gold targets at its Bullabulling project where anomalous lithium-caesium-tantalum pegmatites were identified in its maiden reconnaissance program. Fieldwork and geochemical analysis previously outlined lithium-bearing pegmatites within a 4km corridor and gold occurrences were also recorded at the major Coolgardie lithium and gold province.

Strickland Metals will kick off a planned heritage survey on October 9 at the company’s Yandal and Earaheedy projects ahead of a planned drill program at what it describes as a compelling but untested gold target. The company seeks heritage clearance across priority areas, with particular focus on its promising Great Western, Rabbit Well and Cowza prospects and other regional gold prospects in the Yandal project.

Brightstar Resources has made the milestone jump from explorer to producer status following the inaugural blast on the cutback of its Selkirk joint venture open-pit mine in Western Australia’s historic Menzies goldfields. Mining is expected to run for about six months, with ore being stockpiled in Menzies, and the company is anticipating its maiden gold pour early next year.

Auric Mining’s first toll milling of ore from its Jeffreys Find mine has yielded 1721 ounces of gold – and more than $5 million in revenue. The company says all mining has been completed, but a package of about 145,000 tonnes of ore is still in haulage for processing. Surplus funds are to be set aside for further development of its Munda project.

Xanadu Mines has revealed its massive Mongolian copper-gold Kharmagtai deposit is now connected to the local electric grid, paving the way for current and future construction and exploration activities. The company says its vital 35,000-volt connection to the Mongolian Southern Electricity Distribution Network is expandable and will accommodate Kharmagtai moving closer towards operational mine status.