Public Company News

Sky and Space Global’s proposed cutting edge miniature satellite network has received further commercial validation with the company’s wholesale partner securing customers interested in accessing bandwidth from the first three units when they are launched into space. Sky and Space estimates potential initial revenues from the new contracts at circa US$500,000 per year.

Terrain Minerals’ faith in their 100%-owned Great Western gold deposit, 68km north of Leonora has been rewarded by a 58% lift in the estimated open-pitable contained gold resource at the project. The company is now considering a host of options to monetize the project which is surrounded by numerous operating mines. 

They say if you want to go hunting for giants you need to go to the land of the giants. Auroch Minerals appear to have done just that after securing a farm in agreement to earn up to 75% of the Alcoutim Copper, Zinc, Lead, Gold and Silver Project in Portugal. It is just 20km from the massive Neves Corvo mine that has proved up 8mt of copper and zinc concentrates over time. 

Lithium Australia have lifted their stake in the Electra Lithium clay project in Mexico to 49% as they kick off a major drilling campaign. The Electra project is on the southern boundary of a giant Lithium clays project that has already signed a major off-take agreement with revered electric car manufacturer Tesla. 

Blackham Resources are off to a flying start with their latest round of drilling at the Wiluna gold project, boosting confidence in the potential to expand their production outlook from 100,000 ounces a year to 200,000 ounces a year. The latest drilling has confirmed significant new mineralized zones. 

Technology company Weebit-Nano continues to make big strides in the development of its game changing “Re-Ram” memory storage technology with the announcement of successful electrical testing.  Weebit believes Re-RAM has the capacity to revolutionise memory storage due it being faster, cheaper and requiring less energy than current flash storage methods.

Connected IO has secured a AUD$270,000 purchase order for its wireless “internet of things” devices from a US security firm. The latest order further bolsters its customer base that includes Coca-Cola, US telcos Verizon and AT&T, Vodafone, The Red Cross, Cisco, and some US Police departments. The company recently posted 126% revenue growth for the December quarter. 

Lithium Australia’s graphite spin-off, BlackEarth Minerals, is shaping up for an impressive ASX debut after the addition of a couple of highly prospective exploration projects in Madagascar. The new properties add to a bulging portfolio of graphite projects in Australia with the company set to float on the ASX before the end of June.

Northern Minerals will raise another $10m for their Browns Range heavy rare earths pilot project in a fully underwritten equity placement. It is the second time the George Bauk-led company has raised funds at above-market levels, highlighting the strong level of investor interest in Australia’s first heavy rare earths project.

Medicinal cannabis player MGC Pharma has easily raised $10 million as it looks to fast-track acquisitions and accelerate development of its cannabis-derived products. MGC will use the funds to ramp up its medical R&D program and expand sales of its cosmetics and dermatological cannabis-derived lines with the latter to fund the former.

The Mt Marion Lithium mine has proved it is settling into production with the second shipment of concentrates setting sail for China this week. Neometals and their partners in the project also reported that a third, larger shipment is due to leave Kwinana in early April, which represents a further increase in the pace of production.

Terrain Minerals have picked up the pace with start of another drill program, this time at the Gimlet gold and nickel-copper project in the Fraser Range. The Perth-based junior has been very active and successful in the field since a capital raising in the December quarter and now has Gimlet and the flagship Great Western project generating some excitement for shareholders.