Public Company News

Triangle Energy has cashed its first payment for the sale of its share in the Cliff Head oil joint venture in Western Australia. The $2.4 million payment from JV partner Pilot Energy represents the first of multiple payments totalling up to $18 million for Triangle who will pivot into serious exploration as it prepares to drill further wells in the Perth Basin.

St George Mining has bolstered development plans for its high-grade Araxá niobium-rare earths project in Minais Gerais, Brazil, signing a strategic development and offtake partnership with leading global metals trader SKI HongKong. The memorandum of understanding endeavours to drive development of Araxá through both technical and financial assistance from SKI.

ASX-listed Radiopharm Theranostics has partnered with US-based BAMF Health for a phase 2b trial in the US to test its “F18-RAD 101 radiotracer”. The innovative treatment targets the fatty acid synthetase, which is a protein over-expressed in brain tumours but absent in healthy cells. It uses a molecule combined with the F18 isotope to enhance tumour detection and treatment precision.

Toro Energy has begun integrating its new vanadium resource into the recently updated Lake Maitland uranium resource block model near Wiluna. The move is set to dramatically impact the company’s previously tabled scoping study on the project that will now benefit from both uranium and vanadium sales. The combination of the two resources may also lead to economies of scale when it comes to mining according to the company.

In this edition of Bulls N’ Bears Big Hits, we examine some notable drill intercepts revealed on the ASX last week, including at Argent Minerals’ Kempfield Project in NSW with its 47m at 10.18g/t silver hit. We also take a look at other interesting drill hits from last week as reported by Nova Minerals from its RPM target in Alaska and West African Resources’ M1 South resource in Burkina Faso.

Javelin Minerals has upped its planned maiden drilling program at the Coogee gold project near Kambalda in WA from 2500m to 3000m after identifying several opportunities to extend known mineralisation. The company plans to launch its combined RC and diamond drilling program in mid-November in two phases to confirm potential extensions below the old Coogee open-pit and to expand mineralisation north and west of the pit.

A magnetic survey by Carnaby Resources has found a major conductor at the San Quentin prospect beneath outcrops of up to 6.7 per cent copper at its Greater Duchess JV with Latitude 66 in Queensland. The prospect is near the 4.2 million tonne Nil Desperandum deposit and and boast some 800m of outcropping copper mineralisation that is yet to be drilled.

Red Metal Ltd says its giant 4.8 billion-tonne rare earths deposit at its Sybella project near Mt Isa in QLD is a globally significant discovery. In revealing its maiden inferred mineral resource estimate, the company also pointed to a shallow section of the deposit at surface that is weathered granite and therefore potentially amenable to low-cost heap-leach processing.

This week’s Bulls N’ Bears Runner of the Week is … Ovanti Ltd. The buy-now-pay-later hopeful is planning to tackle the U.S market after appointing an ex-Zip Co executive to drive its plans forward. Also, Nanoveu ran hard as it readies for crucial testing on its new semiconductor technology, while other movers and shakers this week were African Gold and James Bay Minerals.

Image Resources has targeted a mid-2025 start to heavy mineral concentrate production at its Atlas project, 170km north of Perth, after securing essential water licences to accelerate construction. The milestone has now offered a clear timeline for renewed cash flows - expected to be $62m pre-tax over two years - almost two years after shutting down the successful Boonanarring project, located 100km south of Atlas.

Surefire Resources has identified nine new drilling targets from reinterpreted IP geophysics data, structural interpretations and re-logging at its Yidby gold project in Western Australia’s Mid West region. The company says the work significantly complements its understanding of the mineral system and controls on gold mineralisation previously intersected by its drilling and points to potential depth extensions for the porphyry-hosted system.

Askari Metals has revisited exploration data from its Horry copper-gold play in Western Australia’s Kimberley region to whip up new drill targets after fielding significant interest in the company’s local assets due to strong commodity pricing for both metals. Based on previous programs at the site, management now believes it has the potential to reveal high-grade mineralisation via a significant exploration push.