Public Company News

Greenland Minerals has outlined major improvements at its massive Kvanefjeld project in southern Greenland, including an impressive 8% increase in rare earth recoveries to 94%, compared with its 2016 Feasibility Study metrics. The work will lead to an increase of USD$31m per annum in revenue, based on the current basket prices for REO and provide attractive margins on production, while seriously reducing OPEX costs for the project.

ASX-listed Azumah Resources has intersected narrow but exceptionally high-grade gold zones of up to 0.5m @ 168.3g/t gold from 650.5m down-hole while hunting for depth extensions to its flagship Kunche deposit in Ghana. This follows on recent confirmation of substantial gold mineralisation to 580m below the surface at the Bepkong deposit and provides geological information to guide the next phase of drilling.

Buru Energy has kicked off a flurry of drilling activity that seeks to unlock the oil and gas potential of the severely underexplored Canning Basin in northern WA. Besides two horizontal production wells that could substantially increase its oil output, the company is also preparing to drill the Yakka Munga-1 and Rafael-1 exploration wells, either of which could be game changers if they are successful.

Gold development company Calidus Resources has made substantial progress on its PFS for the flagship Warrawoona project in the eastern Pilbara region of WA, saying it on track to publish the study in July. Earlier this month, the company completed a placement of $2.16m at a premium to the market, which will provide it sufficient funding to complete the PFS in the nominated timeframe.

Novo Resources is a step closer to mine production from its Pilbara gold assets in WA this week, with a key mining lease now granted for its emerging Beatons Creek project near Nullagine, WA. The rigorous tenement approval process was underpinned by the company’s impressive mineral resource estimate of just over 900,000 ounces, with 316,000 ounces sitting in the oxide zone, which Novo will attack first.

Strike Energy is another step closer towards booking a reserve at its potentially lucrative Jaws-1, super-deep coal seam gas well in the Cooper Basin, South Australia, after re-establishing consistent gas production. The flare stack has been ignited with reservoir pressure at 425psi whilst the continued flow of water at between 450 to 500+ barrels per day confirms the good productivity of the well.

Kalia Limited’s engagement of technical expert Dr Steve Garwin to overview its Mt Tore project on Bougainville Island has paid off, with five key porphyry copper-gold and epithermal gold targets delineated. Dr Garwin identified the geochemically “fertile” nature of the region’s rocks, with the underexplored area holding potential for world-class deposits of copper-gold in the highly endowed, desirable “Pacific Ring of Fire” location.

Hawkstone Mining has generated more wide, high-grade mineralisation in separate ore horizons from diamond drilling at the Northern Mineralised Zone of its Big Sandy lithium clay project in Arizona, US. New results include 47m @ 2,130 ppm lithium from 12m down-hole and the drilling campaign has now defined continuous, thick mineralised zones over more than 600m of strike at the emerging project.

Sky and Space Global has signed a definitive agreement with Nasdaq-listed manufacturer GomSpace for up to 16 new nano-satellites to extend its IoT and M2M connectivity services over the entire globe. These nano-satellites will be delivered in two batches with the first batch of eight dispatched by the end of 2019, whilst the second optional batch could be delivered in the first half of 2020.

TNG Ltd has signed a binding agreement with Swiss global specialty chemical distributor DKSH for the offtake of all titanium dioxide products from its flagship Mount Peake vanadium-titanium-iron project in the NT. The company already has a binding offtake agreement with South Korea’s Woojin for at least 60% of the project’s vanadium output and a binding term sheet with major global commodity trader Gunvor for its iron products.

The WA Government’s plan to carry out $51m in major road upgrades in the Eastern Kimberley region will directly benefit Northern Minerals’ Browns Creek heavy rare earths mine, by providing virtually year-round access to the project tenements from Halls Creek. This will also provide greater certainty for the company to ramp future production from Browns Creek, knowing the product can be transported from site on a regular basis.

Image Resources’ Boonanarring heavy mineral sands project near Perth continues to deliver with a grab sample of an ultra-high grade zone that was identified and mined by the company returning 95% HM and 70% zircon content. About 500 tonnes of this ore has been stockpiled and work will be carried out to determine how far the zone extends into areas that have not been fully cleared of overburden.