Public Company News

In this week’s edition of Bulls N’ Bears Big Hits, we examine some of the notable drill intersections revealed on the ASX, including Wildcat Resources’ Tabba Tabba run of 67m at 1.9 per cent lithium oxide. We also look at other interesting intercepts as reported by Rumble Resources from its Western Queen project in WA and Strickland Metals at its Rogozna project in Serbia.

Meeka Metals has filled its pockets to the tune of nearly $360,000, after it was awarded a research-and-development Federal Government rebate for rare earths works undertaken at its Circle Valley project near Esperance in Western Australia. The company qualified for the rebate through its metallurgical studies, experimental set-up and leaching of clay-hosted rare earths from the Circle Valley operation.

Image Resources has confirmed it has received the final approvals it needs to kick off the long-awaited onsite construction of its Atlas heavy mineral sands project in Western Australia’s Perth Basin. The company says it has now secured the vital go-ahead from the Federal Government after it satisfied proposed conditions relating to the Atlas development under the Environment Protection and Biodiversity Conservation Act.

This week’s Bulls N’ Bears Runner of the Week is … Terragen, a company aiming to fatten up global livestock while simultaneously reducing greenhouse gas emissions. Its stock jumped more 115 per cent on the back of sheep feed improvements. Other companies that saw their respective share prices run hard included HighCom, East 33 and Heavy Minerals.

In tough recent times for many junior mining companies on the ASX, luring a financially-powerful “big dog” onto the share register to provide some much-needed muscle has become a common boardroom pursuit. Bulls N’ Bears takes look at some of those companies which have received both a timely cash injection and a share price boost up to recent highs.

Aruma Resources has acquired three new projects featuring copper and uranium in South Australia and Queensland, adding to the company’s three-project rare earths and lithium portfolio in Western Australia. The new projects include the Wilan iron oxide-copper-gold-uranium project on SA’s Olympic Dam doorstep and the Queensland-based Fiery Creek copper play and Bortala copper operation that both sit within the State’s Mt Isa region.

Aurum Resources has launched a scoping study to assess the development potential of its Boundiali gold project in Côte d’Ivoire after locking in metallurgical experts in a push to deliver a resource estimate by year’s end. After a recent raft of high-grade hits and strong metallurgical test results, the appointments also signal the next step in pushing the project quickly towards a prefeasibility study.

ABx Group says it has uncovered the potential for resource extension at its Deep Leads rare earths prospect in Tasmania after receiving the first 316 assays from its 37-hole maiden air-core drilling sortie. The company’s latest assay suite not only revealed thicker rare earths intercepts than usual, but also a high 4.3 per cent proportion of the high-value dysprosium and terbium elements.

Horizon Minerals is wasting no time getting the diggers to work at its Phillips Find gold project near Coolgardie in WA following a recent merger with Greenstone Resources. A joint venture agreement has been finalised with BML Ventures to mine 200,000 of ore, which will be toll treated at the nearby Greenfields Mill during the next 11 months to produce almost 15,000 ounces of gold.

Reach Resources says geophysics, geochemistry and rock microscopy have confirmed a 4.5-square-kilometre oval body as an alkaline intrusive and the likely source of big rare earths-niobium hits at its Wabli Creek project in Western Australia’s Gascoyne region. Wabli Creek is one of two exploration licences held by Reach in the highly-prospective Yinnetharra area that is well-known for its often unusual, but critical mineral assemblages.

St George Mining has swooped on the niobium-rich Araxá rare earths project in the Brazilian State of Minas Gerais, picking it up for US$21 million (AU$33 million) from Toronto-listed fertiliser specialist, Itafos. Sitting 5km south of the town of Araxá and 1000km north-west of Rio de Janeiro, the project boundary adjoins the high-grade CBMM mine that produces 80 per cent of the world’s niobium.

Buru Energy has locked in a local drilling company to drill two oil wells in Western Australia’s onshore Canning Basin that form the centrepiece of the company’s farm-in joint venture with Sabre Energy. The campaign is set to test the promising Rafael Shallow and Mars exploration wells and binding drill rig hire agreements are to be executed shortly to enable drilling to kick off in September-October.