Public Company News

Perth-based biotechnology company PharmAust has clinched an agreement with the Walter and Eliza Hall Institute for research into the effectiveness of its monepantel drug against a cancer-inducing virus in humans. The research raises hopes for an effective treatment for 10-to-20 million people worldwide infected with the HTLV-1 virus, which causes pulmonary disease, inflammatory disorders and, in some cases, leukaemia or lymphoma.

Legend Mining continues to grow the mineralised intrusion at its Mawson nickel-copper-cobalt find in the Fraser Range of Western Australia with further sulphide intercepts including an 11m hit going 1.02 per cent nickel and 0.61 per cent copper, several hundred metres away from the discovery zone. A new intrusion some 2km south of Mawson has also been identified as downhole electromagnetic modelling defines further targets.

ASX-listed Galan Lithium has continued its strong sharemarket rise this year on the back of impressive new results from testing aimed at showing it can produce high-purity battery grade lithium carbonate from its flagship Hombre Muerto West lithium brine project located in Catamarca, Argentina.

Okapi Resources has secured a package of brownfields uranium assets in the US via an all-scrip “transformational” acquisition of Australia-based Tallahassee Resources. The company will pay the vendors of Tallahassee Resources 33.5 million new Okapi shares and 16.75 million options as consideration for the deal and inherit 100 per cent of the mineral rights over the Tallahassee uranium project tenure in Colorado’s Tallahassee Creek uranium district.

Estrella Resources has served up a 26.3m drill intercept grading 0.73 per cent nickel and 0.4 per cent copper from 361m at its exciting T5 discovery near the historical Carr Boyd Rocks mine north of Kalgoorlie in Western Australia. Two other holes also hit a broad zone of nickel-copper sulphides as drilling to test the extent of mineralisation continues.

ASX-listed Troy Resources has reported promising reverse circulation drilling results from its Gem Creek prospect, north of the company’s 100 per cent owned Karouni gold operations in Guyana. Notable shallow drill hits such as 1m grading 7.5 grams per tonne and 5m at 5.36g/t gold have been recorded over an identified 500m of strike with mineralisation said to be open in all directions.

ASX-listed Buru Energy has got its new drilling in Western Australia’s onshore Canning Basin off to a flying start with the first casing set in the Currajong 1 exploration well. Targeting 28 million barrels of conventional oil, Buru’s drilling of Currajong 1 is due to conclude in the next two weeks. A second well targeting 69 million barrels of oil at Rafael 1 is set to follow.

ASX-listed Hot Chili has applied to dual list on the Toronto Stock Exchange as it steps up its funding and development plans for the proposed large-scale Costa Fuego copper-gold project in Chile. The Canadian share market has a proven track record of supporting world-class exploration and development companies in the copper space with a number of recent transformative dual listings.

Novo Resources’ conglomerate gold-fed operation at Nullagine in WA continues to break new production records with the company pumping out more than 16.5 per cent more gold in June than in the previous month. Novo’s Golden Eagle mill produced 5,898 ounces of fine gold for the period, with the company also posting revenue of $12.8 million.

ASX-listed software-as-a-service provider K2fly has achieved strong business growth momentum heading into its new fiscal year with surging revenues and invoicing in the June quarter rounding out a successful FY2021. During the financial year K2fly landed significant new contracts with large miners which saw it invoice A$2.54 million in the June quarter, up 34 per cent year-on-year, bringing FY21 invoices to $7.8 million.

Venus Metals and joint venture partner Rox Resources have delivered solid gold hits including 5m at 5.96 grams per tonne gold near an old underground mine the duo plan to bring into production at the Youanmi gold project in the Murchison district of Western Australia.

St George Mining is off to a flying start in its copper-gold search in the “world-class” Paterson region of Western Australia with multiple holes from its maiden drilling campaign at its Paterson prospect hitting prospective basement rocks. Initial XRF analysis has returned elevated levels of pathfinder elements suggesting potential for base metal and gold mineralisation across 35km of target stratigraphy at the company’s tenure.