Public Company News

Northern Minerals have raised $3m from a placement to a local sophisticated investor to top up financing for their $56 million Browns Range heavy rare earths project in the East Kimberley. The company also reported the first modules of the processing plant being built by Sinosteel MECC were due to ship from China by the end of the week.

ASX-listed biotech PharmAust has secured a patent in the US relating to the use of its promising anti-cancer drug Monepantel, for the treatment of non-cancerous conditions such as neurodegenerative diseases, diabetes and age-related illnesses. The patent is another move by Perth-based PharmAust to boost its global IP protections and follows the granting of patents in Europe, US, Australia and China.

Perth-listed Connected IO says it is confident of pushing into Asia with its cutting edge “internet of things” technology after meeting with military and police representatives in Thailand and the Philippines. The wireless tech upstart will work with the emerging Asian nations to develop products such as body cameras, in-vehicle communications and drones for pilot programs this year.

Hammer Metals have added to an already packed drill schedule with a 2,500-metre program at their Millennium Cobalt-Copper-Gold project. The program will be funded by Hammer’s new Canadian joint venture partner and will be completed by the end of the December. Whilst the project appears to be well endowed with Gold and Copper, Hammer are quietly confident of increasing their Cobalt resource.

Pilbara Minerals have received their final environmental approval from the WA Government to build and operate the massive Pilgangoora Lithium project in the Pilbara. The move clears the way for completion of construction and first production by Q2 2018. Pilbara also passed another milestone this week by achieving financial close on their US$100m bond issue, a key component of the project financing.

Auroch Minerals exciting exploration play in search of a copper-zinc giant in Portugal is starting to look interesting. The company’s third hole hit several intervals of copper sulphides, with results improving with depth. The hole will now be deepened after a downhole survey also revealed a potential conductor below the original end of hole depth of 1200 metres.

All the pieces are falling into place at Australia’s first heavy rare earths mine, with 100%-owner Northern Minerals this week reporting progress on many fronts just as global demand surges for its key payable mineral. Mining and stockpiling of ore at the company’s Browns Range project is 50% complete and the site is now ready for the modular processing plant, which is enroute from China.

MGC Pharmaceuticals have strengthened their position as a market leader in the booming medical marijuana market, securing a distribution deal for their products in Central and Eastern Europe. The exclusive agreement was signed with leading pharmaceutical distribution company, Lenis and will see the Perth-listed company’s cannabis-derived products made available in more than 15 countries in the region.

An independent geologist’s report has backed Calima Energy’s comparisons with a highly profitable operation on neighbouring acreage in the Montney Basin, which is one of North America’s hottest liquid rich gas plays. Calima’s ground was found to have even better pay thickness and porosity than neighbouring ground held by Saguaro Resources, which is producing more than 10,000 barrels of oil per day.

Pilbara Minerals look set to become the world’s first Lithium producer with a direct investment by a global carmaker under an innovative equity, offtake and debt financing deal with China's Great Wall Motors. The deal will help underpin the Stage 2 expansion to 5Mtpa and could be the first of similar deals by global carmakers to secure Lithium supply for their rapidly expanding electric vehicle divisions.

Peppermint Innovation’s rollout of its technology platform has taken a big step forward after the company struck a further deal with UCPB, one of the Philippines’ largest banks. Peppermint, who are focused on the commercialisation of their mobile-phone based bill payment technology said they had inked a deal with UCPB to roll out internet payment “gateway services” in the Philippines for the giant lender.

Nzuri Copper have kicked off an ultra-high resolution aeromagnetic survey over their quality Copper-Cobalt targets on the doorstep of Ivanhoe Mines’ giant new discoveries in the Central African Copper belt. The survey will provide a clearer picture of the subsurface and sharpen definition of the kind of markers that were crucial in Ivanhoe’s Kamoa and Kakula discoveries.