Public Company News

Javelin Minerals has picked up the historic Eureka open pit north of Kalgoorlie where it is seeking to prove up a theory that more golden riches may be lurking nearby. The move follows the spectacular success of Spectrum Metals and Spartan Resources. Both found multi-million dollar gold deposits about 300m north of their mothballed open pits and Javelin already has some intriguing drill holes about 300m north of Eureka suggesting there is more gold out there.

Horizon Minerals is set to take over Poseidon Nickel and its mothballed mining plant with a $30m all-scrip deal that will give Horizon a neat opportunity to commercialise its myriad of gold deposits scattered around Kalgoorlie. Horizon is offering 0.1156 of its shares for each Poseidon share and aims to raise a minimum of $14 million via a two-tranche placement at 4.5c per share to bolster its balance sheet.

Image Resources has locked in a US$20 million offtake pre-payment from Shantou Natfort Zirconium and Titanium Co, its key Chinese heavy minerals concentrate partner. The deal will provide funding to support the construction of the company’s 100%-owned Atlas mineral sands project, 170 kilometres north of Perth. Drawdown should occur in two tranches of US$10 million each in November and January.

Buxton Resources has nailed a record 124m drill hit at 16.6 per cent total graphitic carbon at its Graphite Bull project, 300km east of Carnarvon, WA. The hole, drilled as part of a 29-hole reverse circulation program, intersected the monster hit at a depth of just 44m and has extended the strike of Graphite Bull by an extra 240m outside the existing resource.

Suvo Strategic Minerals’ subsidiary, Climate Tech Cement, has inked a 50:50 joint-venture (JV) agreement with respected pre-cast concrete manufacturer PERMAcast to commercialise intellectual property for a low-carbon “geopolymer” cement product made from processed mining waste. The aim is to introduce low-carbon concrete projects and products to market. PERMAcast has supplied concrete products for many notable WA developments.

White Cliff Minerals has extended its land grab in Canada by securing ground adjacent to its Rae copper-silver project that sits in the Canadian territory of Nunavut. The project now boasts a prospective strike length of 72km for copper-hosted sedimentary structures. The company jumped on the additional 243 square kilometres of tenure identified from geophysical data that it says may have district-scale potential for mineralisation.

Dateline Resources has wrapped a net present value of US$235m around its Colosseum gold project in California that is set to churn out 635,000 ounces over 8.3 years at an AISC per ounce of US$1490. That number compares favourably to today’s gold price US$2752 an ounce or AUD$4121 an ounce. Dateline will bank a total of US$1.344b in sales over the life of mine with about US$400m of that dropping to the bottom line.

Strickland Metals has punched out more good hits at its Horse Well gold project near Wiluna in Western Australia. The latest assays have increased the strike length by 260m to more than 1.6km at the Marwari prospect while at the Bronco prospect, two new high-grade zones have been unearthed.

Suvo Strategic Minerals has raised $2 million in a heavily-oversubscribed placement to develop and commercialise its low-carbon green cement product, with the owners of WA’s premier supplier of pre-cast concrete products, PERMAcast, kicking in $300,000 to join the register. Suvo holds a worldwide intellectual-property (IP) license for its “Geopolymer” cement that is manufactured using what would traditionally be waste streams from other industries.

Reach Resources has wound up its RC drilling program at the company’s Wabli Creek project in WA’s Gascoyne region where it searched for the source of niobium and rare earths from recent surface sampling. The company launched its maiden drill program at Wabli Creek on the 4th of October and completed 40 holes for 3013m of drilling, averaging 212m of advance per day at three priority targets.

Larvotto Resources has kicked off a major diamond drilling program at its 100 per cent-owned Hillgrove gold-antimony project in New South Wales in a bid to expand the known mineral resource. The company is looking to target “near mine” areas and is hoping to follow up on a stella prior drill hit of 31m grading a whopping 65 g/t gold.

Neometals Ltd has successfully rolled out its patented lithium battery recycling technology with the opening of a Europe’s first automotive battery recycling plant by Mercedes-Benz in Kuppenheim, Germany. Neometals and its 50% technology JV partner, SMS Group, have licensed the ground-breaking technology to Mercedes who will harvest end of life batteries for valuable lithium, nickel and other metals.