Public Company News

Estrella Resources is wasting no time as it looks to explore the potential of its freshly minted 500 sq kms of tenure in Timor-Leste with a high-grade manganese rock chip sample peaking at 60.8 per cent already on the table. As the ink dries on the historical agreement with state-owned Murak Rai Timor, Estrella is making history as one of the first companies to receive exploration rights in the country.

Lindian Resources is fully permitted to begin the construction, mining and mineral processing steps at its massive Kangankunde rare earths project in Malawi after receiving a permit to extract ground water at the site. The giant African operation currently holds 261 million tonnes at an impressive grade of 2.19 per cent total rare earth oxides, including 5.7 million tonnes of contained TREO in the inferred category.

Quantum Graphite has completed a detailed airborne electromagnetic survey over its Uley tenure on South Australia’s Eyre Peninsula. The company is on a quest to boost its current Uley 2 resource of 6.3 million tonnes at 11.1 per cent total graphitic carbon for an inventory of 697,000 tonnes of the critical battery mineral.

Strickland Metals is ready to put its WA gold hunt into overdrive, as it prepares to drill a multitude of high-grade gold targets at its highly prospective Yandal project, about 85km north-east of the town of Wiluna. The company’s liquid assets are impressive, with $54 million in cash and Northern Star shares available to fund its exploration programs.

ASX-listed Gold Mountain is looking to significantly increase its rare earths holdings in the Brazilian State of Bahia after securing 41 new tenement applications covering more than 800 square kilometres. Dubbed the “Ronaldinho” project, the new applications cover ground adjacent to tenements held by the Gina Rinehart-backed Brazilian Rare Earths.

Oil and gas explorer 88 Energy has recorded the first successful oil flow to surface from its Alaskan projects with testing at the Upper Slope Fan System of its Hickory-1 well confirming the discovery of light oil. Testing produced a peak gauge flow rate of more than 70 barrels per day of light oil at the well which forms part of the company’s greater Phoenix project within the onshore oil section of Alaska’s north slope.

The Northern Territory’s onshore Beetaloo basin is thought to be harbouring almost biblical-scale gas deposits and ASX-listed Empire Energy is in the vanguard of those seeking to prove its commercial viability. The company is now teeteringly close to pushing the button on an investment decision to start flowing gas commercially out of the basin – a move that could revolutionise the Australian gas industry.

This week’s Bulls N’ Bears ASX Runner of the Week is… Osteopore. Its share price surged more than 1060 per cent after announcing a deal to sell its regenerative bone implant technology into Singaporean and Vietnamese markets. Osteopore joins fellow market movers and shakers this week Allup Silica and Many Peaks Minerals.

Allup Silica’s shares soared by more than 300 per cent today after confirmation that silica sands from the company’s Sparkler project near Albany in WA will be suitable for the solar panel industry and high-tech manufacturing. Allup also tabled some stellar results from its Cabbage Spot project near Wyndham showing grades up to 99.4 percent silica. Its stock touched 13c from its close yesterday of 2.9c.

Estrella Resources has officially been granted exploration tenure of more than 500 square kilometres in Timor-Leste making history as one of the first companies to receive exploration rights in the country. The nation is looking to build its industry in this resource-rich part of the world and ASX-listed Estrella is the first through the gate.

Novo Resources has boosted its recent gold drilling results by re-assaying larger sample sizes from its WA Nunyerry North project, using modern high-tech multi-pot photon-assays, due to the nature of its coarse-gold. The improved results highlight several significant intersections, including 6m at more than 6 grams per tonne at the project it has in joint-venture with the Creasy Group.

Xanadu Mines has kicked off a hydrological drill program at its Kharmagtai copper-gold project in Mongolia as it prepares to deliver its upcoming preliminary feasibility study into the operation. Management says data from the program will be compiled into a hydrology database for use in site water balance for the final Kharmagtai PFS design, which is assessing ultimate growth of up to 40 million tonnes per annum processing throughput at the operation.