Public Company News

A research and development tax rebate of nearly $5 million from the Australian Government will boost Radiopharm Theranostics’ mission to further develop its suite of diagnostic and therapeutic products aimed at beating the cancer scourge. The refund recognises the company’s R&D activity during the 2023 financial year and comes as it prepares to run clinical pancreatic cancer trials in New York.

Aruma Resources says it has uncovered the presence of a high-grade gold-bearing structure in the latest phase of drilling at the company’s Salmon Gums project in Western Australia’s Eastern Goldfields region. Assay highlights returned a 5.9m intercept grading 10.5 grams per tonne gold from 38.4m, including 2.6m going 9.85g/t gold from 38.4m and 0.85m at an impressive 40.9g/t gold from 43.4m.

Two diamond-core holes drilled by Alma Metals into the central zone of its Briggs porphyry copper-molybdenum project in Central Queensland have defined thick mineralisation extending from surface through almost the full 200m hole depths. The company says its latest results further support the possibility for bringing to life its previous visions of a shallow, high-grade initial open pit.

Buru Energy’s wholly-owned hydrogen-chasing business 2H Resources has picked up hydrogen and helium-prospective ground in South Australia – right next to the nation’s first discovery well for the natural gas. The company is now the preferred applicant for seven petroleum and two gas exploration licences in SA, with its WA helium and hydrogen hunt expanding into six new “special prospecting authorities with an acreage option”.

ChemX Materials has received more than $900,000 through a research and development tax incentive rebate payment for developing its high-purity manganese and alumina projects during the past financial year. Administered by AusIndustry and the Australian Tax Office, the rebate is available for companies investing in research and development programs aimed at sustainably producing critical minerals for the future.

Reach Resources has sprung back into drilling action at its Morrissey Hill lithium project in Western Australia’s emerging Gascoyne region to double down on the area’s pegmatite potential following phase-one drill results. Its 9000m RC program will test the extension of multiple thick, stacked lithium-bearing pegmatites at its Bonzer prospect, in addition to six of 50 undrilled pegmatite targets mapped during fieldwork.

Chimeric Therapeutics expects a phase-1B clinical trial into its “natural killer” cell therapy for newly-diagnosed patients with acute myeloid leukemia to be open for new enrolments before the end of the year. The study, which has received investigational new drug clearance from the USFDA, is designed to enrol up to 20 patients who are not eligible for intensive chemotherapy or allogeneic stem cell transplant.

ABx Group has pumped its mineral resource estimate up to 52 million tonnes at 817 parts per million TREO after management completed a block model for its Deep Leads-Rubble Mound rare earths deposit in Tasmania. The company says the resource model is based on data from 407 drill holes across the resource area and covers 39 per cent of the identified mineralised outline.

Gutsy copper-gold extensions have emerged at Queensland’s Greater Duchess joint venture project – held by DiscovEx Resources and Carnaby Resources – following a new, seven-hole diamond drilling campaign. The JV says results associated with an “intensely strong” downhole EM conductor at its Chalcus lode were highlighted by an 87m hit going 2.3 per cent copper and 0.5g/t gold from 550m.

A world-first audio-frequency-magnetic survey flown by Estrella Resources over its flagship Carr Boyd nickel-copper project near Kalgoorlie in Western Australia’s Goldfields region has zeroed-in on nickel-sulphide drill targets to 600m depth. The company says the helicopter-borne survey has given it a vastly better understanding of the project’s geology and includes “industry-leading vision” of its highly-prospective host rocks.

This week’s Bulls N’ Bears profiled ASX runner is… Kula Gold. Its share price jumped more than 184 per cent to join other impressive companies including MetalsTech, Firebrick Pharma and Cooper Metals.

After completing a massive infill and extension campaign at its Kharmagtai copper-gold project in Mongolia, Xanadu Mines has shifted its focus to new discoveries outside the site’s current mineral resource. The company is now operating three diamond drill rigs at Kharmagtai, with four deep holes planned to target mineralisation below its biggest deposit identified to date at White Hill.