Public Company News

Strike Energy has observed that the primary objective at its multi-target West Erregulla-2 well in the Perth Basin, Western Australia, may hold the same excellent reservoirs seen at the neighbouring Waitsia gas field. Cuttings from the Kingia sandstones drilled to date include clean sands with some evidence of grains being coated in chlorite, a mineral that is a key element required for the preservation of porosity at depth.

Novo Resources is building up excitement at its Egina project in the Pilbara, WA, after a bulk sampling program of surface gravels recovered significant quantities of gold nuggets at grades well above typical alluvial gold deposits. The company said the gold is coarse enough to extract without using water and is evaluating whether the ores could be extracted using simple and cheap mining methods like continuous mining.

Vonex has filed a new application with the Australian Patent Office to secure additional intellectual property protection over the unique message functionality of its game-changing “Oper8tor” communications app. The company is also carrying out more work to stabilise the app’s performance in relation to the increased complexity of two-factor authentication, a security feature that is common amongst social media platforms.

Infinity Lithium has delivered outstanding pre-feasibility study results for its fully integrated San José project in Spain, revealing that the operation will produce a pre-tax net present value of USD$860m and an internal rate of return of 42%. The project has an initial life of mine of 30 years and the company will both mine lithium mineralisation from the operation and process the ores into battery-grade lithium hydroxide products.

Lithium Australia is expanding its potential lithium chemical product suite with its “LieNA” lithium processing technology transitioning from a scoping study to a more comprehensive pre-feasibility study. The technology converts fine spodumene that would normally confound conventional processors into a suite of battery chemicals including lithium phosphate, hydroxide, sulphate or chloride salts.

Northern Minerals has delivered high grades of rare earth element mineralisation from drilling its regional prospects at the Browns Range operation near Halls Creek in WA. Results include 16.59m @ 7.53% TREO from 27m at the Dazzler deposit and 4.43m @ 8.07% TREO from 21m at Iceman, up to 10 times the total mineral resource grade currently being mined from the operation 15km to the north.

Medicinal marijuana player, MGC Pharmaceuticals, is looking to tap into one of Europe’s largest public markets through a dual listing on the London Stock Exchange in the second half of the 2019 calendar year. The company will be one of the first medical cannabis companies to list in the UK since legislation was changed in 2018 to allow doctors to prescribe medical cannabis to patients.

Rox Resources has signed a binding term sheet to earn up to a 75% interest in Cullen Resources’ Mt Eureka tenements that host extensions of the company’s existing Fisher East nickel deposits. Rox can earn a 51% stake in Mt Eureka by spending $1m on exploration within three years and the remaining 24% by spending an additional $1m on exploration over a further three-year period.

King River Resources has flagged the potential to further reduce the estimated capital cost of its giant Speewah vanadium/titanium/iron project in WA’s Kimberley region by USD$152m to USD$524m. According to a recommendation by Perth-based engineering firm, Como Engineers, the cost reduction could be achieved by reducing the planned start-up mining rate to correspond with a more standard-sized acid plant installation.

Alterra has executed a three-year local partner services agreement with West Australian-based avocado grower, French’s Group. French’s Group will provide local representation, assistance with origination and assessment of investment opportunities, localised production experience and technical support to Alterra in the Peel, South West and Great Southern regions of WA.

Horizon Minerals has firmed up confidence in the Crake prospect within its Binduli gold project near Kalgoorlie after drilling returned a top intersection of 3 metres grading 7.41 grams per tonne gold from 81m down-hole. The results demonstrate both width and grade continuity across a 450m strike length with the company saying that mineralisation remains open in all directions.

Calidus Resources has kicked off a major drilling campaign at its Warrawoona gold project located near Marble Bar in WA’s eastern Pilbara region, which is aimed at improving confidence in the existing mineral resources and expanding the mine-life beyond the initial six years. The work will be centred around the Klondyke open pit and underground resources, but will also include regional greenfields exploration at Klondyke West.