Public Company News

Geological mapping and grab sampling by Estrella Resources has stretched its manganese strike out to 47km in Timor-Leste, with some priority samples already crushed and sent back to Perth for expert lab analysis. The company is now weighing up its business case for the potential first-ever manganese exports from the Southeast Asian country formerly known as East Timor.

Radiopharm Theranostics’ stock rocketed up more than 35 per cent this morning after the cancer-fighting firm secured commitments from leading international and Australian institutional investors to raise $70 million at a premium to its most recent share price. The funds will be used to advance the company’s clinical programs for the diagnosis and treatment of cancer through its innovative radiopharmaceutical products.

ASX-listed K2fly’s cloud-based software solution that audits mineral inventories has attracted as new customer, with Canadian company Lundin Mining committing to a new three-year, $661,000 agreement. The deal – which has an annual recurring revenue value of $180,000 – will provide Lundin with a total mineral resource governance solution to be delivered at the corporate level, covering all of the company’s material reporting sites.

American West Metals has secured $18.8 million in non-dilutive funding to accelerate its Storm copper project in Canada after signing a royalty package deal with Australian-based Taurus Mining Royalty Fund. The funding package is designed to underpin the exploration and drilling activities that are already underway at the potentially district-scale project, along with fast-tracking project development amid a surging global thirst for copper production.

Strickland Metals has gone back to its Horse Well gold camp in the Western Australian desert and returned with another string of impressive hits including 20.3m at 1.9 grams per tonne gold from 103.6m

In this week’s edition of Bulls N’ Bears Big Hits, we examine some of the more notable drill intersections revealed on the ASX, including Astute Metals’ 59.43m at 1300 parts per million lithium from 73.2m. We also take a close look at other interesting drill hits revealed last week by Patagonia Lithium, Australian Rare Earths and FireFly Metals.

Mining software provider K2fly’s shares hiked 85 per cent today after revelations emerged that the company is set to be taken over by globally-renowned, technology-focused investment firm Accel-KKR. Under the binding scheme implementation deed signed by the two companies, K2fly shareholders will be entitled to receive 19c per share – representing a massive 90 per cent premium on the company’s previous closing price of 10c.

This week’s Bulls N’ Bears ASX Runner of the Week is … Schrole Group. Its shares jumped 187.5 per cent as the new listing of Mexican fast food chain Guzman y Gomez also tantalised the market’s tastebuds in an impressive debut. Other ASX movers and shakers this week included Terra Metals, Lithium Plus Minerals and HeraMED.

Xanadu Mines has identified key follow-up targets at its Red Mountain project in Mongolia after returning positive copper and gold results from near-surface in a discovery drill campaign across four prospects. The company recorded epithermal gold extensions in shallow mineralisation at its promising Target 33 prospect, with assay highlights showing a 41m hit grading 1.07 grams per tonne gold from 34m.

Radiopharm Theranostics looks set to fill its coffers with a healthy $18 million following a strategic equity investment and asset transfer deal with leading United States-based radiopharmaceutical company Lantheus Holdings. Lantheus has agreed to make an initial strategic equity investment of $7.5 million in Radiopharm at an offer price of 0.5c per share – a whopping 47 per cent premium to the last closing price.

With niobium-related news again rattling the ASX market this week, Lycaon Resources is getting closer to launching its hunt for the lustrous metal in Western Australia’s West Arunta region after scheduling heritage surveys for next month. Recent discoveries by WA1 Resources and Encounter Resources have demonstrated the potential for the West Arunta region to host significant niobium and rare earths mineral systems.

Chariot Corporation has moved quickly to get boots back on the ground at its Black Mountain lithium project in Wyoming, with exploration activities kicking off just one month after phase one drilling finished. The announcement caused a flurry of interest on the ASX, with the company’s shares jumping more than 31 per cent from a previous close of 18c to touch 23c during intraday trading.