Public Company News

When it rains it pours or so it seems for Rare Earths player Northern Minerals who banked $2.8m from Chinese interests a few weeks ago with another $27m to come. This week the George Bauk led company banked another $1.25m from the sale of their Northern Territory gold leases to Northern Star Resources with another $1.5m potentially still to come. 

Stargroup has inked a deal with a Swedish EFTPOS terminal supplier to exclusively distribute their “next generation” EFTPOS terminals in Australia and NZ. The deal provides a number of market advantages for Stargroup in the EFTPOS space, including the ability to access the software "source code" for each terminal, potentially opening up a swag of opportunities for the company. 

Despite a few minor technical setbacks during FY16, Troy Resources’ new Karouni Mine in Guyana in South America remains a highly profitable operation with C1 cash costs reported at just US$515 per ounce. All in sustaining costs came in at just US$816 an ounce and the company is predicting that could drop to as low as US$750 an ounce in FY17. 

Stargroup has appointed Evan McGregor to its board as the company reported a record July with ATM transactions lifting by 12 % and annualised gross revenues on track to reach nearly $7m on an annualized basis. McGregor has previously served with listed companies such as Asia Infrastructure, Entertainment World, Zeolite Australia, Media Entertainment Group and London Securities. 

Getting along with your neighbours is always good policy, especially in the mining game when you have common tenements sitting on the same ore body. Pilbara Minerals and Altura Mining have led the way at Pilgangoora in the north west of W.A with a new agreement to share infrastructure and support each others tenure. 

Troy Resources have overcome early mill problems at their new Karouni gold mine in Guyana, South America and made a series of improvements to boost production rates. The Perth-based gold miner also reported a swag of encouraging drilling, suggesting there is still plenty of upside in the Karouni resource.

MGC Pharmaceuticals has taken the next step towards launching its potentially breakthrough range of cannabis based skincare products next year after Recent microbiology testing in Slovenia showed “no adverse reactions” to MGC cannabis products that treat psoriasis, acne and seborrhoea ailments. The company says it is on track for a full skin care line roll out in 2017. 

Pilbara Minerals have more than doubled their ore reserves at Pilgangoora in WA, paving the way for the world’s biggest lithium project to get even bigger. A 136% increase in reserves has more than doubled the life of the planned mine to 35 years and prompted studies to double output after mining begins in late 2017.

Sipa Resources have more than doubled the anticipated cap on their share purchase plan to $4.2 million after a flood of applications from bullish shareholders. The rush coincides with the start of a maiden drilling program at the Paterson North project, which is on strike from the ground generating so much good news for Antipa and its JV partner Rio Tinto.

Well-known Perth broker Euroz is predicting a 50% increase in the lithium resource at Neometals’ Mt Marion project near Coolgardie. The prediction, which is based on recent spectacular drill results at the project, would take the Mt Marion resource from 60m tonnes to 90m tonnes, placing it right up there with some of the largest hard rock deposits in the world. 

There seems to be no end in sight to the run on Blackham Resources’ share price that started in September last year at 15c and touched $1.15 today on the back of more, classic Blackham, super high grade drill hits at the Matilda Gold project – the project that just keeps on giving.  Results out today include 6.0m @ 26.4 g/t gold, including 1.8 metres at a whopping 83.3 g/t, and 15.6 metres at 7.51 g/t.

Blackham Resources shares have surged again with news that the first gold pour at the 100,000+ ounce-a-year Matilda gold project in Wiluna W.A is just weeks away. The first gold bar at Matilda will mark the first major milestone in Blackham’s remarkable revival of the largely mothballed project in Wiluna. Shares in Blackham surged 4.5c to $1.02 on the news.