Public Company News

Lithium Australia’s multiple tentacles have found their way into Germany with due diligence now underway on a proposed European joint venture and project farm-in. Interestingly, the project has a Tin recourse however Lithium Australia believe it might also be hosting a major Lithium discovery. 

Northern Minerals look set to get Australia’s first heavy rare earths mine across the line after securing an offtake agreement for all production in the first three years. The sales agreement, with a subsidiary of one of China’s big rare earths companies, includes a $10 million pre-payment and has dramatically boosted the prospects of a development decision.

Medicinal cannabis player MGC Pharmaceuticals remains on schedule for its first commercial production of medical marijuana, with the Perth-based company's European cannabis extraction facility completing construction. MGC expects the initial commercial cannabinoid extraction to commence in Q3. 

Lithium Australia have kicked off a much-anticipated drill program in Mexico with hopes of a discovery to rival the massive neighbouring Sonora deposit, which already has an off-take agreement with Tesla. Drilling began this week at the Agua Fria prospect where recent work identified a thick bed of lithium clays over a strike length of 5km and returned a number of very high assays. 

Legend Mining’s drawn-out settlement of the 2014 sale of a magnetite project in Cameroon is edging closer towards a happy ending. The project buyer, Jindal Steel and Power, has kept faith by making another interest payment this week. Legend reaffirmed that it believes Jindal is still committed to finalising a new payment arrangement for the final $3 million in the first half of the year.

ASX-listed Stargroup delivered a staggering 13th consecutive quarter of record revenue growth in the March quarter. The company is expecting further revenue increases in calendar year 2017 helped by its impending acquisition of Automatic teller machine service provider Indue.

Perth based Connected IO has added another blue-chip client to its expanding US customer base securing a $100,000 purchase order from a leading US wireless solutions provider. The order strengthens the company's growing revenues and adds to its already impressive customer base that includes Coca-Cola, US telcos Verizon and AT&T, Vodafone and The Red Cross.

ASX-listed Alterra has continued its ambitious push into the Western Australian dairy industry with the purchase of a 1,640 hectare property in Dandaragan Shire. The dairy industry upstart and carbon plantation manager is confident the property will suit an innovative dairy farming system known as "System 5".

In an era where major resource developments can take decades to get into production, Pilbara Minerals are defying all odds at their world-class Pilgangoora Lithium project near Port Hedland. The company announced this week they had cleared a key environmental hurdle and were now awaiting just one more bureaucratic sign-off before full-scale construction begins.

Hammer Metals have bagged more exciting copper-gold real estate in the Mt Isa region with the completion of stage one of an acquisition from Chinalco Yunnan Copper Resources. The deal includes an already defined resource with 143,000 tonnes of copper and a host of other opportunities for Hammer to add value by applying its own brand of exploration.

Sky and Space Global’s proposed cutting edge miniature satellite network has received further commercial validation with the company’s wholesale partner securing customers interested in accessing bandwidth from the first three units when they are launched into space. Sky and Space estimates potential initial revenues from the new contracts at circa US$500,000 per year.

Terrain Minerals’ faith in their 100%-owned Great Western gold deposit, 68km north of Leonora has been rewarded by a 58% lift in the estimated open-pitable contained gold resource at the project. The company is now considering a host of options to monetize the project which is surrounded by numerous operating mines.