Public Company News

ASX listed medical cannabis company MGC Pharma has spread its wings into the Czech Republic after inking a deal to acquire Panax Pharma, a company that holds a medical cannabis breeding license in that country. Most licenses restrict the amount of THC in the plant however Panax comes with a license that is considerably more generous with regard to THC, potentially opening up new opportunities for MGC Pharma.

Blackham Resources have been working overtime to get their resource at the Matilda Gold project in Wiluna upgraded and ready for production expected to start as soon as next quarter – and they rarely miss when they put a drill hole down. Latest results are headlined by an 8.7 metre intersection grading 8.99 grams per tonne gold which included a 6m @ 11.95 g/t gold.

Stargroup has easily placed the 16% of its stock held by retiring director David Dickinson in an oversubscribed on market book build managed by the company’s Executive Chairman and CEO Todd Zani that raised $1.78m. Stargroup's two major shareholders, Mr Zani and Arthur Ognenis stumped up half a million dollars to support the book build.

Unique Australian shark deterrent and detection company Shark Mitigation Systems have raised $3.5m and will officially list on the ASX today at 10am. The company are seeking to further commercialize two exciting new shark deterrent technologies that have been partnered by Google and Optus and researched by the University of Western Australia.  

Neometals have signed a global license to deploy the technology they plan to use at the goliath Barrambie Titanium Project in W.A. Neometals says their proprietary process has the potential to bring the cost at Barrambie to produce a tonne of titanium dioxide down to around US$572 per tonne from a more traditional industry standard price of up to US$2300 per tonne. 

Red Mountain Mining's strategic funding partner for their Batangas Gold project in the Philippines, Bluebird Merchant Ventures, has listed in London after raising GBP1.675m. AUD$1.7m of that money will now flow to Red Mountain Mining to complete the DFS at Batangas, achieve final permiting for the project and to drill out some high grade gold targets.

An ill-considered, ill-advised and poorly executed plan to replace the Directors of Drake Resources failed to even secure the votes of the people that proposed it this week. A motion to roll the Drake board garnered just 3,333,666 out of the 432,477,198 votes cast. Neither the proponents or the proposed new directors attended the meeting to argue their case. 

Dairy industry upstart and carbon plantation manger Alterra have wasted no time in clearing the decks of all debt after the sale of their NZ forestry assets for approximately $3.2m. With $2.4m in cash and equivalents and $2.8m in annual forrestly income, the company is now well placed to pursue its intriguing new "System 5" dairy farming method.

Market darling Blackham Resources has again produced a solid set of drill numbers at Wiluna in the same week that much heralded Geologist Bruce Kendall was appointed Chief Geologist. Mr Kendall added a million ounces to the Stockman VMS project, a million ounces to the Sunrise Dam Gold mine and was named Prospector of the Year by AMEC in 2012. 

ATM machine upstart Stargroup say they are now paying off the capital invested in each ATM machine in just 15 months due to massive increases in revenues and solid average transactions per machine. The company says it smashed its previous best quarterly ATM revenue record last quarter by a whopping 65% to post its 9th consecutive record quarter. 

ASX listed Alterra, formally known as Carbon Conscious, is now debt free and have an additional $2m in cash to pursue new opportunities after settling the sale of their New Zealand forestry plantations for AUD$3.2m. The company is now looking to expand its agri-business by bringing a new concept of dairy farming known as “System 5” to W.A.

Having established its credentials as a mining company capable of finding significant mineral deposits over the last 2 or 3 decades, Perth based Sipa Resources can afford to think big. This week they will kick off a drilling campaign at their Ugandan project looking for a big base load source of nickel and copper at the Akelikongo prospect.