Public Company News

The rich geology of Hammer Metal’s ground east of Mt Isa has produced yet another happy surprise for the Perth-based explorer —graphite. A recent electromagnetic survey by helicopter highlighted a conductive, graphite-rich bed, with initial samples assaying up to 10% total graphitic carbon.

Stargroup and small tier bank, Goldfields Money, have doubled the size of their partnership, announcing that up to $30 million of Goldfields excess cash would now be made available for Stargroup ATM machines. Goldfields’ banking license coupled with Stargroup’s market penetration conjures up any number of future opportunities for the two ASX listed companies.

Perth-based CVCheck is charging into the black after continued strong revenue growth in April and May. The innovative provider of online police checks, employment screening and a burgeoning range of related products also has more growth in the pipeline, thanks in part to changes to 457 visas in Australia and new requirements by NZ’s Health Department.

Perth listed biotech PharmAust, have determined that their promising anti-cancer drug known as MPL might also be useful in the treatment of diabetes, brain disease and age related disorders. The company announced this week they have secured a patent for MPL in Australia relating to the treatment of the three newly targeted illnesses. 

One of Wall Street’s oldest investment banks has released a bullish assessment of Perth based Northern Minerals, saying Browns Range is among a rare breed of high-value rare earths projects. Hallgarten & Company concluded that Northern Minerals had a project with great metallurgy and set a 12-month price target of 38 cents, a 217% increase over the current levels.

Auroch have begun drilling ahead of schedule in Portugal, just weeks after entering the country with a bold, deep-drilling exploration project targeting high-grade copper and zinc. The first diamond drill hole is expected to take between four and six weeks to test its target, which is just 20kms along strike from the “supergiant” Neves Corvo copper zinc mine.

The marriage of ASX listed Azonto Petroleum to the unlisted Calima Energy is essentially a story of money meets management experience with the marriage consummated at one of the best addresses in town, the Montney oil and gas play in Canada. Calima is the creation of 5 Subiaco based geoscientists who previously took Ophir Energy from an idea to a 2 billion pound company.

Lithium Australia’s Sileach process has given its best indication yet of its breakthrough potential with the latest trials producing 99.8% Lithium Carbonate without the need to roast concentrate. The result was also achieved using a sub-economic grade of just 3.4% Li20 highlighting the potential of Sileach to bring low-grade Lithium deposits to market.

ASX listed medical device company Analytica has bolstered the intellectual property safeguards around its “PeriCoach” e-health system, with the innovative urinary incontinence device receiving patent protection in Australia. The Australian patent is the latest stage in the company’s IP protection strategy rollout in several key markets including China and Japan.

Pilbara Minerals have received WA Government approval for the Pilgangoora Lithium-Tantalum project, clearing the way for construction of the world’s next major Lithium supplier near Port Hedland. The company also hinted that news about project financing was imminent, which was widely expected after last week’s announcement of a major off-take agreement being struck.

Northern Minerals have wasted no time at the Browns Range heavy rare earths project, with grade control drilling and an expansion of the mining camp now underway. The company last month approved the $56 million pilot project, which will focus on the production of “Dysprosium”, a high-value rare earth that is a key component of permanent magnets used in electric motors.

A large-scale pilot plant for Lithium Australia’s revolutionary Sileach Lithium processing technology might have a much lower cost than anticipated thanks to savings identified by building it overseas. Lithium Australia says an engineering cost study by CPC Project Design has identified big savings at a potential overseas site, which will be examined more closely.