Public Company News

Big River Gold is forging ahead with its efforts to develop the Borborema gold project in Brazil, despite the current global economic headwinds. With a DFS for a multi-million ounce gold project on the street and over A$3m in the bank, Big River is well placed to weather the Coronavirus storm and the prospect of potentially adding a newly identified waste by-product that is potentially saleable should change the economic dynamics.

As AVZ Minerals approaches the home straight of its definitive feasibility study, the lithium developer has revealed that the first phase of its heavy metals test work has yielded potentially saleable tin and tantalum concentrates from its Manono lithium project in the DRC. AVZ recovered a total of 63% tin at a grade of 64.1% cassiterite, using the company’s existing lithium metallurgical flow sheet.

Novo Resources has finalised the acquisition of its remaining joint venture interests from Artemis Resources in its Purdy’s Reward and 47K gold leases south of Karratha in WA’s Pilbara. Novo issued 1,640,000 shares to Artemis and paid out A$820,000 in cash consideration for the remaining interests in the leases. Sorrento Resources, Artemis’ JV partner has also been paid A$180,000 and issued with 360,000 Novo shares.

ASX-listed K2fly management has smashed its year 2 recurrent revenue targets just 9 months after picking up its “RCubed” mining software business for around $450k plus some delayed payments on the back of revenue targets being achieved. The rapidly growing ASX-listed software company said this week that its annual recurrent revenues have now hit $1.83m, representing a spectacular 247% compound annual growth rate.

Legend Mining has kicked off its planned diamond and air core drill campaign at the Rockford Project in the Fraser Range of Western Australia, where drilling late last year hit a near 15-metre long zone grading 1.07% nickel, 0.75% copper and 0.06% cobalt from 114 meters downhole. Legend has outlasted a swag of other juniors in the Fraser Range and is now well blooded for the hunt.

ASX-listed smart home product supplier, Quantify Technologies, says it is well placed to face the Coronavirus-inspired market headwinds after raising A$1.75m back in February and a number of previously placed orders are now starting to be delivered. The Perth-based company has also managed to slash $1m off its annual cash burn as it focuses on its manufacturing and distribution deals in the East coast.

ASX-listed Hot Chili cant put a foot wrong, with its ongoing drill program continuing to deliver blistering numbers at the Cortadera project in Chile. Latest results include 542m grading 0.5% copper and 0.2 grams per tonne gold from 422m at the Cupero 3 deposit. The most recent drill hits have extended the deposit’s high grade core to well over 500m in length and 200m in width.

Neometals has stunned the market by delivering another cash windfall to its shareholders with a 2 cent, partially franked dividend set to hit their bank accounts on April 3rd. The ‘mine to market’, battery metals innovator will pay out A$10.9m of its December 31st cash balance of over $100m to fund the dividend which comes on top of $45m worth of cash returns paid in the last four years.

Lithium Australia looks set to drill test an exciting swarm of stacked pegmatites at Lake Johnston that outcrop over 450m x 100m. The company previously said it is looking at an exploration target at its Medcalf project in the Lake Johnston region of between 5 million tonnes and 8 Mt at between 0.8% lithium oxide and 1.2% Li2O. Lake Johnston is exquisitely located near three major lithium deposits.

Ramelius Resources’ takeover bid for ASX-listed Spectrum Metals has gone unconditional after Ramelius’ relevant interest in Spectrum surpassed 50 per cent. The cash and scrip offer by Ramelius, announced on February 10th and quickly endorsed by the Spectrum board, implied a 50 odd per cent premium to Spectrum’s closing share price at the time.

Blina Minerals’ new Barkly project near Tennant Creek in the NT has taken on a new complexion after the Perth ASX-listed company tabled some exciting drill results from its maiden drill program at the project. Best numbers include 20m grading 1.67% copper and 1.79g/t gold from 156m at the Bluebird prospect and 15m going 3.46% copper and 0.61g/t gold including 1m grading 4.8% copper and 3.9g/t gold at the end of hole.

Local heavy rare earths developer, Northern Minerals, has sold its second shipment of the year to trading company, Thyssenkrupp, with 114 tonnes exported from Darwin and bound for separation facilities in China. Northern also sold 22 tonnes of heavy rare earth carbonate back in January this year from its pilot plant in north-eastern WA, signalling an increase in output from its Browns Range project.