Public Company News

Ora Banda Mining directors and London-based investor Hawke’s Point have stumped up a combined $9.2m as part of a $30m capital raise to fund the cost of operating the reimagined underground Riverina project. The company says the well-supported shares placement and planned development of the underground system will help set it on the path to producing 100,000 gold ounces annually by the 2025 financial year.

Australians suffering hard-to-beat cancers are set to be the first to benefit from trials of new treatments conducted as part of a two-year partnership between Radiopharm Theranostics and GenesisCare. Tumours in the brain, lung and prostate will be targeted in three first-phase clinical trials in Australia, which will be aimed at studying the safety and tolerability of Radiopharm’s novel radiopharmaceutical treatments.

Seismic data from the Perth Basin has unveiled four high-graded oil and gas targets within two permits for a joint venture led by WA-based producer Triangle Energy. Drilling is now scheduled for the first half of next year, while work is also ongoing to further define the identified targets, in addition to adding others to the list.

While many gold producers are delighted to churn out 100,000 ounces a year, five leading companies wouldn’t get out of bed for that. Take a look which WA company stands head and shoulders above them all.

Venture Minerals believes the identification of two new priority nickel-copper-PGE targets by its JV partner Chalice Mining will enhance the prospectivity of its South West project, 240km south of Perth. Two previously-identified soil anomalies have been extended and better-defined during a phase-two program at the project Venture describes as a look-alike to Chalice’s Julimar discovery.

Ora Banda Mining has been given the green light to start mining at its Riverina underground gold deposit near Kalgoorlie after receiving financial investment decision approval from its board of directors. While the mining decision is still subject to the company securing a capital requirement of about $30 million, the approval supports its 2025 financial year production target of 100,000 gold ounces per annum.

Coda Minerals looks set to press the go button on plans to mine its Elizabeth Creek copper-cobalt project in South Australia after positive results from its recently completed scoping study on the operation. The study has revealed a net revenue of more than $5.7 billion over an estimated 14-year mine life at a pre-tax internal rate of return of 26.5 per cent.

Quantum Graphite says it is poised to take advantage of the respective booming markets for battery anode materials and long-duration energy storage after positive flake-sampling tests in South Australia. First-phase flake test-work achieved a purity of 97.59 per cent graphitic carbon and the company predicts increased temperatures will raise that mark to the 99.5 per cent needed for anode production.

AVZ Minerals has unveiled a monster lithium hit, with credible tin additions, from five holes in a wider 54-hole drilling campaign at its Manono project in the Congo. Headline results include 308m at 1.53 per cent lithium oxide and 731ppm tin from 22.5m, with another 176.3m grading 1.67 per cent lithium oxide and 898ppm tin from 23.7m.

North American explorer 88 Energy has revealed deep-diving plans to chase up to 647 million barrels of Alaskan oil in six target zones after successfully drilling its Hickory-1 surface hole to a depth of 1088m. The company has installed casing and a blow-out prevention system at Hickory-1 and will now proceed to the full depth of 3810m.

Octava Minerals believes it may be on the cusp of proving up a significant nickel sulphide orebody in the wake of finding high-grade mineralisation from deep drilling at its JV project in WA’s Kimberley. The company’s project partner, Future Metals, has reported the discovery of high-grade platinum group metals that is believed to extend “well beyond” its 6.9-million-ounce mineral resource.

Askari Metals’ bold vision of identifying a major exploration discovery at its Uis lithium project in Namibia has received a timely boost through the signing of a conditional investment agreement with global giant, Zhejiang Huayou Cobalt. The deal, and an accompanying institutional investment raise, would boost the company’s coffers by more than $5.7 million as it aims to beef up exploration.