Public Company News

ASX and Frankfurt-listed Altech Batteries has received A$5.12 million as the first of two deferred instalment payments from Frankfurt-listed Altech Advanced Materials for the purchase of 25 per cent of Aletch Batteries subsidiary Altech Industries Germany GmbH. The final instalment of 1.583 million euros or approximately A$2.5 million is payable in December 2023 completing the deal done in December 2020.

ASX-listed Classic Minerals is making steady progress on its ambitions to become a gold producer and has begun installing a processing plant on foundations at the company’s flagship Kat Gap project in the WA Goldfields. The heaviest parts of the Australian-made Gekko plant are being secured to foundations and work is beginning on ancillary structures, electrical and plumbing scopes.

Meeka Metals’ latest diamond drilling has confirmed high-grade gold at its St Anne’s deposit as part of the company’s flagship Murchison gold project. Headline results include 12.8m at 5.21 grams per tonne gold from 54.3m. The company says it remains on target to release a maiden mineral resource for the deposit later this month with further drilling also to kick off in coming weeks.

Aurum Resources has commenced an induced polarisation gradient array geophysical survey at its Penny South project that is planned to cover an area of 5.2 square kilometres. The main target for the IP survey is ultramafic schist units that Aurum believes are possibly more extensive than previously interpreted and may host nickel-copper mineralisation. The Penny South project is located 126 kms south-east of Mt Magnet in WA.

TSX-listed Novo Resources has highlighted a number of high-priority targets at its Becher gold project in the Pilbara after receiving the results from the company’s 2022 air-core drill campaign at the operation. Becher forms part of Novo’s 10,500 square kilometre Pilbara tenement package and sits within its greater Egina gold camp and between De Grey Mining’s Mallina and Hemi gold projects.

Chimeric Therapeutics has successfully secured the manufacturing of a key tool for cell therapy targeting gastrointestinal and neuroendocrine tumours as the company gets set for a clinical trial. Management says by securing the supply of “viral vectors” it has successfully navigated one of the most critical and challenging components of the manufacture of its “CAR T” cell therapy Chimeric is now focused on advancing its treatment to a first phase clinical trial.

Infinity Mining has landed strong gold results over a 200m strike from the first five RC drill holes in its latest campaign. Assays from the first five RC drill holes at the company’s Victor Bore project include 7m at 1.96 g/t gold from 32m, 6m going 1.4 g/t gold from 25m with best individual 1m intersections of 8.67 g/t from 34m and 7.33g/t gold from 29m. Infinity wrapped up 37 RC drill holes at five historical gold mine prospects on its ground near Leonora in the Central Goldfields of WA.

Lindian Resources continues to pull impressive assays from its Kangankunde project in Malawi with the latest drill results highlighting a 3m hit at a whopping 15.6 per cent total rare earth oxides (TREO) from 69m. The high-grade intercept is contained within a larger 26m section grading 6.15 per cent TREO from 58m and includes a 1m segment at a head-turning 18.76 per cent TREO from 71m.

ASX-listed Neometals’ latest feasibility study into its Vanadium Recovery Project in Finland has shown a significant increase to the operation’s net present value compared to its preliminary investigations. The latest figures show a 40 per cent increase to pre-tax net present value up to $US323 million compared to $US230 million identified in the prefeasibility study completed in May 2021.

Strickland Metals will commence drilling at its Iriquois base metals project in WA’s Earaheedy Basin with a minimum of three diamond holes after the company developed a new geological model for the site. The campaign will target the site’s currently untested “feeder structure” to the zinc-lead mineralisation that the company believes could be enriched with silver and copper. Strickland’s latest modelling for the system suggests the potential for a much larger copper-zinc-silver-lead mineralisation than previously estimated.

Askari Metals has kicked off phase 2 drilling at a key tenement that forms part of its Uis lithium project in Namibia after an ongoing mapping and sampling program highlighted untested pegmatites at the site. The campaign began late last month and aims to investigate a number of recently discovered pegmatites reported to have visible lithium mineralisation at surface. Askari says the latest RC drill program will cover a minimum of 4000m with four holes already completed and assay results from phase 1 drilling expected in coming weeks.

Everest Metals will focus on a slew of conductor targets with a new deep drilling campaign at its Revere gold project near Meekatharra and along strike from Sandfire Resources’ DeGrussa copper-gold mine. The company says the upcoming campaign will aim to intersect volcanic hosted massive sulphide copper-gold mineralisation down to a depth of around 300m and similar in geology to the famed DeGrussa deposit.