Public Company News

Medicinal cannabis player MGC Pharmaceuticals has inked a seven-year supply deal with Brazilian medical cannabis company Onix, with an estimated value of at least $1.65 million in the first year. From year two, the deal, which will see Onix purchase a bulk order of MGC Pharma’s pharmaceutical grade products, has an estimated value of at least $4.1 million per year.

Troy Resources has been out in the field surrounding its Karouni gold mining operations in South America, scouting for potential new gold discoveries off the back of the highest-grade drill intercept ever recorded in the region. Activities at the Upper Itaki, Kaburi Hills and Potaro–Kuribrong prospect areas, all within cooee of Troy’s existing Karouni Mill, are now hitting high gear.

Novo Resources has achieved some outstanding gold recovery rates on the latest set of mechanical ore sorting tests for multi-tonne bulk samples of crushed ore from its Egina and Beatons Creek gold deposits in the Pilbara. Tests done at laboratories in Sydney and Germany have recovered between 92 and 100 per cent of gold in three size fractions from the Egina sample and the Beatons Creek fractions returned between 82 and 94 per cent of the gold.

Altech Chemicals’ green credentials for its disruptive new kaolin clay-based high purity alumina production processes appear to stack up well against the industry standard alkoxide process that uses high-grade aluminium metal as a feedstock, according to the Perth based company. Altech says its numbers show that its HPA process produces substantially fewer greenhouse gas emissions and consumes much less energy per tonne of HPA produced.

Classic Minerals has hit some solid gold drill numbers only 1.2km south and along strike from the main drilling area at its Kat Gap gold prospect where gold-filled quartz veins extend at depth into the granite host rock. The best RC drill result to date returned 8m grading 7.91g/t gold from 60m, including 4m at 13.56/t gold from 60m.

ASX-listed MGC Pharma has secured a key market in Europe after signing an exclusive, commercial wholesale supply agreement with Polish NGO, Cannabis House Association and the University of Lodz to supply a large-scale research project in Poland. Under the deal, MGC Pharma will supply its medicinal cannabis-based, cannabinoid medicine products to up to 250 pharmacies and provide scientific support to the commercial research study whilst gathering participant data.

Well known technology man, Terry Stinson, has joined the board of ASX-listed Aurora Labs to support the company’s commercialisation strategy. Aurora considers his appointment key to delivering its 3D metal printing technology to market as it pulls out of the research and development phase. Mr Stinson will no doubt help the company to focus on large-scale commercial applications for its printing technology.

ASX-listed explorer, St George Mining, has a foothold on some early stage multi-metal exploration ground in the sought after Paterson Province in the eastern Pilbara region of WA. The company has one granted tenement in the Paterson covering over 35 kilometres, that, according to management, holds the same geological characteristics as the behemoth Telfer gold mine that has produced over 32 million ounces of gold and 1 million tonnes of copper to date.

ASX-listed Coziron Resources has pinpointed a couple of new priority gold targets at its Croydon Top Camp project in WA’s Pilbara region after a data review highlighted areas where a number of compelling geological criteria all lined up nicely. The company is now looking to add its newly identified drill ready targets to the expanding schedule as it plans to follow up maiden RC results from Top Camp such as 8 metres grading 10.2 grams per tonne gold.

In a Target Statement made to the ASX, Spectrum Metals’ Board has unanimously urged its shareholders to accept the friendly take-over bid by Ramelius Resources. The ASX300 listed company’s implied offer of 15 cents per Spectrum share is a serious 70% increase to its 30-day volume weighted average share price of just over 8 cents. Ramelius’ offer represents an implied value of about $231m for Spectrum’s Penny West gold project.

Hammer Metals will have the rods turning and Geophysicists on the ground very soon at its Mt Isa project in Queensland after being awarded Government grants amounting to $283,000. The windfall will fund a diamond drilling program at the Koppany copper-rare earths project and two magneto telluric surveys, one at the Kalman copper, molybdenum, gold and rhenium deposit and the second across part of the Mt Philp Breccia that is prospective for gold and copper.

After scratching away at the dam wall for a while, it seems that the wall is now crumbling for ASX-listed mining software provider K2fly, with a wave of giant mining companies signing on recently for its unique “RCubed” resource governance software. Latest potential devotees to K2fly’s software include BHP Billiton spin off, South 32, and Vale Australia, a subsidiary of Vale S.A, the largest iron ore producer in the world today.