Public Company News

Sky and Space Global that was recently backdoor listed on the ASX by Perth connections, has moved a step closer to launching its constellation of telecommunications “nano-satellites” by technically validating the software that will power the space infrastructure. The tests showed the effectiveness of the nano-satellites at sending and receiving signals between hardware devices.

Talk is cheap in the exploration business and whilst most explorers talk about the day they will leap into production, the reality is that day more often than not, never arrives. Not so for Blackham Resources who had an unmistakable vision and strategy for the Matilda Gold project in Wiluna that was executed flawlessly at every turn right up until wet commissioning this week. 

Northern Minerals has won a key approval from the W.A state Government for the development of Australia’s first heavy rare earths mine at Browns Range in the far north. The DMP cleared the project management plan for a Dysprosium pilot plant after Chinese interests recently committed $30 million in equity funding for Northern Minerals to help progress the project.

Interest in the Paterson copper-gold district in the north of W.A continued today with news from Sipa Resources that they had intersected copper-gold mineralization in 15 out of 19 holes during their maiden drilling program at the Obelisk project . The results showed an initial strike length of more than one kilometre, which remains open in all directions.

Stargroup achieved record revenues from their Automatic Teller Machine division in August and total quarterly revenues are on track to outperform last quarter by a whopping 50%. The company said it was expecting total quarterly revenues of $1.8m this quarter compared to $1.2m last quarter as the organic roll out of its ATM machines continues to increase. 

MGC Pharma has moved a step closer to conducting clinical trials of medical cannabis in Australia and Europe after signing a deal to partner with Epilepsy Action Australia. The agreement means MGC will collaborate with Australia’s leading epilepsy association on future trials into how medical cannabis can treat the debilitating condition.

Recent drilling at Troy Resources’ Karouni gold mine in Guyana, South America, has increased the gold resource to more than 1.1 million ounces. In their latest annual statement of resources and ore reserves, Troy revealed a 48,000 ounce increase in ore reserves and an 83,400 ounce boost to inferred resources, adding around AUD$145m to the in-situ value of the resource.

ATM machine operator and EFTPOS supplier Stargroup, has reported a massive leap in its full-year profit following a standout year of growth. The company, which offers ATMs and EFTPOS terminals to retail outlets, on Wednesday reported its first ever net profit after tax for the year ended June 30 of $767,802. The result represents a giant turnaround on last year’s loss of nearly $2.9m 

ASX listed Sky and Space Global say they have validated their technical offering, revealing that their first wholesale customer has secured commerical contracts to sell some of the company's cutting edge nano-satellite bandwidth. The UK-registerd satellite company says the new deals underpin teh company's view that it could generate around US$500 milion per year at full tilt. 

When it rains it pours or so it seems for Rare Earths player Northern Minerals who banked $2.8m from Chinese interests a few weeks ago with another $27m to come. This week the George Bauk led company banked another $1.25m from the sale of their Northern Territory gold leases to Northern Star Resources with another $1.5m potentially still to come. 

Stargroup has inked a deal with a Swedish EFTPOS terminal supplier to exclusively distribute their “next generation” EFTPOS terminals in Australia and NZ. The deal provides a number of market advantages for Stargroup in the EFTPOS space, including the ability to access the software "source code" for each terminal, potentially opening up a swag of opportunities for the company. 

Despite a few minor technical setbacks during FY16, Troy Resources’ new Karouni Mine in Guyana in South America remains a highly profitable operation with C1 cash costs reported at just US$515 per ounce. All in sustaining costs came in at just US$816 an ounce and the company is predicting that could drop to as low as US$750 an ounce in FY17.