Public Company News

St George Mining has acquired seven hard rock lithium projects to beef up its impressive WA portfolio and further drive its strategic move into lithium exploration, in addition to its flagship Mt Alexander nickel project. Several of the new projects are located along strike from renowned high-grade spodumene lithium deposits and active mines in WA’s Eastern Goldfields region.

ASX-listed cell therapy company Chimeric Therapeutics has moved a step closer to trialling its treatment for gastrointestinal and neuroendocrine cancers on humans following a successful meeting with the powerful American regulator the Food and Drug Administration (FDA). The company says the FDA’s feedback was encouraging and its advice supports the company’s proposed phase 1 trial for the cancer-fighting treatment.

Ora Banda Mining looks set to pocket $4.2 million in a three-way deal that includes the sale of four non-core tenements to Beacon Minerals and a new royalty agreement with key investor Hawkes Point. Ora Banda has agreed to sell four of its Lady Ida licences in the Goldfields region of WA to Beacon through its wholly owned subsidiary for $2.5 million while still retaining all non-silver and non-gold mineral rights over the tenements.

Surefire Resources hopes a “unique” high-purity alumina deposit, with returns grading up to 31 per cent aluminium oxide, will lead to lucrative rewards from its flagship Victory Bore vanadium project, 400km inland from the WA port city of Geraldton. The company has appointed Queensland-based consultant Lava Blue to start purification test work aimed at leading to the production of high-purity alumina product.

Everest Metals is a different looking company today from when it was Twenty Seven Co up until last year. It has totally renewed its board which is now led by mining man Mark Caruso and assisted by COO and former finance professional Simon Phillips. The new board has its foot on a curious new project that boasts multiple near surface gold reefs and hints of DeGrussa-style copper at depth.

Allup Silica is rapidly ticking boxes at its Sparkler project in the South-West of WA as it readies the silica sands project for a mining licence which it will apply for next quarter. The company has appointed the South-West Aboriginal Land and Sea Council to undertake a Heritage Survey and it has also just wrapped up an auger drilling campaign at its Dune Buggy and Pink Bark projects near Esperance with some success.

WA-based oil producer Triangle Energy has banked $10 million through a binding farmout agreement with New Zealand Oil & Gas for 25 per cent of its L7 production licence and EP 437 exploration permit. Following the separate sale to Talon Energy in December last year of another 25 per cent slice of its permits, Triangle retains a 50 per cent stake of its original tenure.

Neometals is in the crosshairs of the European Investment Bank for cornerstone debt funding of its vanadium recycling project in Finland. The EIB is the lending arm of the EU and one of the biggest providers of climate-related finance. While it does not tend to lend 100 per cent of required funding for projects, its approval could see other commercial banks come to the table.

ABx Group has hit paydirt with its latest rare earths exploration in Tasmania with assays from an ongoing drill campaign more than tripling the initial mineral resource of its Deep Leads and Rubble Mound channel. At 13.9 million tonnes, the resource is now 350 per cent larger than the maiden mineral resource however, with assays outstanding and drilling continuing, a further upgrade might be on the cards.

Terrain Minerals has used an induced polarisation survey to help lock in two priority gold-drilling targets under shallow cover and near existing gold prospects at its Smokebush project in the Yalgoo mineral field, 350km north of Perth. The company found a 400m IP anomaly near existing drilling where results include a 5m hit at 6.1 g/t gold from 55m.

Ora Banda Mining will collect a cool $10 million for the sale of non-core tenements at Lady Ida, 65km south of its Davyhurst gold processing plant in WA. The company says the move will strengthen its balance sheet ahead of a decision on the go-ahead for its Riverina underground gold mine. The sale includes low-grade gold resources in addition to related mining and infrastructure licences.

Multi-commodity explorer Meeka Metals continues to rack up high-grade gold hits at its Circle Valley project near the WA town of Esperance, where it expects to soon deliver a maiden rare earths mineral resource. The intriguing intercepts appear to be evolving into a significant gold footprint covering several kilometres at its underexplored tenure. The head grade came in a 4m core showing 3.89 g/t.