Public Company News

A significant increase in recycling division sales has doubled Lithium Australia’s annual revenue in the past financial year to $5.5 million, up from $2.5 million during the previous reporting period. Associated sales costs were also cut by $600,000 down to $4 million, resulting in a gross profit of $1.5 million for the year compared to a gross loss last year of $1.7 million.

Si6 Metals has unveiled plans to kick off a 10,000m drilling program next month at three prospects within its flagship Maibele nickel sulphide deposit in Botswana, with a mineral resource upgrade looming. Management says mineralisation may extend along strike and at depth, allowing its inferred resource estimate of 2.38 million tonnes at 0.72 per cent nickel and 0.21 per cent copper to grow.

Askari Metals has highlighted three significant mineralised corridors of anomalous lithium across a strike length of 4.6km following a successful sampling program at its Hillside project in Western Australia’s Pilbara region. The company says a total of 216 rock samples were collected during two separate phases of work, with peak results of 350 parts per million lithium and 170ppm lithium.

ASX-listed Horizon Minerals has its eyes on a maiden resource for its Pinner prospect near Kalgoorlie after revealing positive results from an infill drilling program at its Greater Boorara-Cannon gold project. The company completed 26 holes of both air-core (AC) and reverse-circulation (RC) drilling through 1259m across its Pinder and Monument prospects to support its assessment of small-scale open-cut mining.

Software provider K2fly has revealed a steady stepladder towards profit-making after its latest financial year report showed healthy revenue of $12.8 million – a jump of 28 per cent on the previous period. The company’s positive result was bolstered by a 25 per cent increase in annual recurring revenue up to $7.5 million, putting its three-year compound annual growth rate at 48 per cent.

Horizon Minerals has moved to monetise its non-core assets after entering into a binding option and sale deed with Dundas Minerals for the former’s Baden Powell/Scotia and Windanya gold projects near Kalgoorlie. The option covers all mineral rights in 16 prospecting licenses, two mining leases and one mining lease application, across 3230 hectares about 45km north of Kalgoorlie.

Lithium Universe’s promise to “build a lithium project in Canada as quick as we can” has been boosted by the appointment of experienced industry identity Patrick Scallan as non-executive director. Mr Scallan brings to the table his experience of running the massive lithium hard-rock mine at Greenbushes for 25 years, taking its annual output from 200,000 tonnes in 1997 up to 1.4 million tonnes.

Kalgoorlie Gold Mining has turned the start key on its Pinjin project in Western Australia’s Eastern Goldfields, with hole collars and drill pads being prepared after management confirmed vital heritage clearance at the site. The company says discussions with traditional owners clarified that there were no Aboriginal heritage sites at either of its Kirgella Gift or Providence prospects and drilling is slated to start soon.

Buru Energy’s coffers are poised to swell by $4 million through the sale of a 72,500-barrel batch of Ungani oil to global giant BP. With the batch now lifted to ship, Buru is also set to assume full ownership of the Kimberley region oilfield, with joint venture partner Roc Oil to hand over its 50 per cent interest and approvals expected next month.

Cancer-fighting cell therapy company Chimeric Therapeutics has finished its fourth and final phase-1A dose escalation study at the City of Hope campus in the United States, with the successful treatment of a third clinical trial cohort using a scorpion venom derivative. The company’s “CHM 1101” (CLTX CAR T) treatment is designed to treat patients with glioblastoma cancers.

Altech Batteries has revealed a vital update for key aspects of its Silumina Anodes pilot plant in the German State of Saxony to help progress its definitive feasibility study for a 10,000 tonnes per annum operation. The company says permitting, site design and supplier quotations are also advanced. An earlier prefeasibility study returned a net present value of US$507 million (AU$787 million).

Galan Lithium has set a new record at its Hombre Muerto West project in Argentina’s world-renowned “Lithium Triangle”, pumping 981 milligrams per litre of lithium brine at 15 litres per second during testing. At the company’s Catalina tenement, the first diamond hole hit 300m of highly-fractured rock flowing at 6 litres per second following airlift, with fluid density of about 1216 grams per cubic centimetre.