Public Company News

Hammer Resources and heavyweight partner Newmont are currently processing and modelling geophysical data gleaned from the first round of field programs at Hammer’s Mt Isa project. Hammer are also focusing on their own 100% owned tenements including the Scalper prospect that retunred a result of 23 metres at 1.1% Copper and 0.27g/t gold.

Respected Florida based US research house Redchip, has re-rated ASX listed cancer drug hopeful Pharmaust at 35c a share, almost triple its current share price. The total Net Present Value calculated by Redchip for Pharmaust out to 2030 is $56.5m, considerably higher than Pharmaust’s current market cap that hovers between $10m and around $12m.

West Perth based Drake Resources has made the popular leap from mining to technology with the acquisition of Israeli based cyber security firm Genome Technologies that boasts a unique proprietary algorithm that “profiles” client company employees in order to assess their cyber security risk. The deal is worth around $11m and Drake says the cyber security market will grow to $177b in 5 years.

ASX listed Philippines high grade gold explorer Red Mountain Mining look set to bank $2.65m in the next few weeks after a strong showing in their recent rights issue and the listing of their strategic financing partner on the London Stock Exchange. 

Leading ASX listed Cancer drug specialist Pharmaust, are in discussions with a UK-based clinical oncologist to evaluate their anti-cancer drug known as Monepantel in patients with oesophageal cancer. The trials, which will analyse the effect of Monepantel on patient’s tumours are designed to provide short term feedback on the efficacy of the drug.

Former oil and gas turned space technology company Burleson Energy has achieved a major milestone in its relatively short time in the space technology business. This week its recent acquisition target Sky and Space Global, signed a binding contract with respected Danish nano-satellite manufacturer GomSpace to commence building 3 trial nano-satellites.

Despite encountering drilling difficulties that resulted in the abandonment of two holes at their Rockford project in the Fraser Range, Legend Mining says it gained a valuable insight into the geology in the area. Legend says it is able to confirm the presence of “Fraser Zone” rocks highlighting the prospectively of Area D for Nickel and Copper mineralisation.

West Perth based junior mining hopeful Blina Minerals has kicked off a round of auger drilling as part of its due diligence program at the Ande’s project in Colombia.The Ande’s project is sublimely located in the heart of the famed Middle Cauca gold belt in Colombia that is practically overrun by multi-million ounce gold mines on its door step in all directions. 

Consummate deal maker Neometals is at it again, this time with ASX listed junior and 20% partner in its WA nickel assets, Hannans Reward. In a complex series of deals, Neometals will divest its nickel assets in Forrestonia , whilst at the same time emerging as Hannan’s major shareholder with around 40% of its shares and a 13.5% stake in an overseas Lithium play.

2015 was the world’s worst year on record for unprovoked shark attacks according to The International Shark Attack File.This statistic has prompted Perth based Shark Mitigation Systems to float (SMS) its much talked about business on the ASX with the company prospectus now on the streets. SMS will raise $4m at 20c a share in a traditional IP

Austral Gold have agreed to purchase 51% of Troy Resources’ marginal Argentine gold/silver mine, Casposo, for USD $3m. Austral are obliged to free carry Troy in a USD $10m capital works program designed to re-engineer the plant after it fell victim to the impact of high inflation and capital controls in Argentina coupled with a falling US dollar gold price. 

Perth based Triton Minerals have indicated they will focus on getting their Ancuabe prospect in Mozambique into early stage high grade production this year. The company says that 72% of flakes discovered at Ancuabe are greater than 300 microns in size and that 43% are greater than 500 microns, at grades of more than 98% Total Graphitic Carbon.