Public Company News

Volt Resources is aiming to muscle its way into the ranks of the world’s top three graphite producers and will make a USD$40m bond issue on the Tanzanian exchange.The innovative capital raise will not only bank a big lick of money for stage 1 of the Bunyu project but it will also allow Tanzanian and Ugandan pension funds to get behind the project. The NPV for the project could be as much as USD$1.31b

Revitalised gold explorer Classic Minerals is cashing up to fund more drilling at the Forrestania Gold project courtesy of a shareholder purchase plan offering investors the opportunity to top up their holdings at a 20% discount. The funds will go straight into the ground on further phases of drilling to follow up multiple, high-grade hits from the Forrestania Gold Project, near Southern Cross.

King River Copper’s exotic collection of minerals around the Speewah project in the East Kimberley has delivered a potentially lucrative bonus in the form of a large, high-grade fluorspar deposit next door to its flagship vanadium-titanium project. Global supply of the critical mineral is tightening, prompting the US recently to add fluorspar to its list of strategic stockpile requirements

BlackEarth Minerals is setting a cracking pace at its flagship Maniry graphite project in Madagascar, with two drill rigs arriving this week, just a month after the company listed on the ASX. The rigs will drill 10,800 metres of diamond and RC holes at the advanced exploration project, with results channelled into a maiden JORC resource by the middle of the year.

Altech Chemicals has secured another key piece of the puzzle to realise its ambition of becoming a global heavyweight in high purity alumina with approval granted from the Malaysian government for its proposed plant in Johor. Malaysia has jumped at the chance to secure a total investment of $390 million and become a key player in a high-value and rapidly growing commodity.

ASX-listed Calidus Resources has announced the appointment of Mark Connelly to its board as an independent, Non-Executive Chairman. Connelly has enjoyed success in resource project developments and as a powerbroker in merger and acquisition deals lauded by punters. Avid market watchers will no doubt be keeping a close eye on Calidus’ flagship Warrawoona gold project near Marble Bar as Connelly steers it towards production.

Peppermint Innovation has signed an agreement with Singaporean-based CredoLab to deliver credit scoring spinoffs to cash-payment plagued Filipinos who do not have access to banking facilities. At least 70 million Filipinos do not operate a bank account and are paid their weekly wages in cash, however a credit rating via their mobile phones will expedite future access to micro finance and micro insurance services.

Galena Mining will ask shareholders to approve a one-for-five share split to bring the company’s rampant share price down to levels more familiar to retail investors. The unusual move, just five months after the company listed, could prove to be a positive for shareholders if previous share splits are any guide. Both Fortescue Metals and Iron Bark Zinc have successfully pulled off share splits in the past.

Former market darling Aspire Mining is back on the front foot in Mongolia thanks to a big rebound in coking coal prices and its good fortune in landing in the middle of China’s ambitious plans to build railway routes into Europe. The company has seized the opportunity to recapitalise its balance sheet and is aiming to be in production by mid-2019 with its smaller satellite coal deposit.

Strike Energy has spudded the Jaws-1 exploratory oil and gas well in South Australia which may turn out to be a historic move for the John Poynton Chaired ASX-listed junior. Set to be drilled to an extraordinary target depth of 2000m, Jaws-1 may well become the deepest pure coal seam gas well ever drilled not only in Australia, but possibly in the southern hemisphere.

Newly listed BlackEarth Minerals has received a glowing report on the size and quality of graphite at its flagship Maniry project in southern Madagascar, finding plenty of high-purity, jumbo sized flakes that attract premium prices. The report highlighted the Razafy prospect, where BlackEarth is poised to launch a 10,800-metre drill program to establish a maiden JORC resource by mid-year.

Northern Minerals shareholders are eager to increase their exposure to the heavy rare earths developer as it nears first production at Browns Range, applying for $11.7m in stock under the recent share purchase plan. A further $1.3m was raised in a placement on the same terms, providing Northern with a $14m war chest to invest in exploration and further enhancements at Browns Range.