Public Company News

Podium Minerals has just revealed a suite of base metal results to add to its impressive platinum, palladium plus gold intercepts at its Parks Reef project, near Cue in WA. With mineralised strike extending up to 15 kilometres, the latest results have provided a shot in the arm for Podium’s impending resource update. The latest encouraging assays include include 11 meters grading 3.13 grams per tonne platinum, palladium plus gold and 0.26% copper from just 20m downhole.

ASX listed biotech, PharmAust, has been awarded a one-year extension to its contract with not for profit organization, the Drugs for Neglected Diseases Initiative, which commemorates the 12th-year of association between the two parties. Under the contract, which is expected to bring in $1.24m in revenue, PharmAust’s subsidiary, Epichem, will provide synthetic and medicinal chemistry services focused on developing new treatments for neglected diseases.

ASX-listed tech company, K2fly, has more than doubled its accounts tally for the December 2019 financial quarter compared to the same quarter last year, with a record $1.67 million worth of invoices raised. Importantly, the crucial “annual recurring revenue” metric which is pretty much the closest thing to an annuity income stream that generally underpins software companies, was up 40% year on year for K2fly.

Medicinal cannabis player, MGC Pharmaceuticals, has unveiled a new medicinal cannabis-based line for Australian and New Zealand markets to be called “Mercury Pharma” with its first product, Mercury Pharma 100, a prescription-only 100mg/mL cannabidiol product. The company has received purchase orders for over 2,000 product units already, which will see revenues of around $270,000 realised.

Horizon Minerals’ Boorara gold project east of Kalgoorlie is nearing its moment of truth as the aspiring developer aims to commence production on three ‘starter’ pits later this year. A major grade control drilling program has recently been completed that will underpin an updated suite of mine optimisations and designs at the project. The geological model to follow from the drilling will provide a significant amount of confidence and potential grade upside.

Lithium Australia, through one of its wholly-owned subsidiaries, VSPC, has signed a potentially lucrative agreement with major Chinese chemical manufacturer, Beijing Saideli Technology, that will see the Perth based company progress the commercialisation of its battery cathode technology. The plan is to hit the downstream lithium-ion supply chain, collaborating on an international scale to commercialise VSPC’s cathode technology.

Ardiden Limited has more than doubled the size of its Canadian exploration play by sweeping up a swathe of new claims, forming a contiguous ground package over a very prospective greenstone belt that historically produced some three million ounces of gold. The claims, known as the New Patricia gold prospect, now gives the ASX-listed explorer a dominant ground position spanning over 90 kilometres across the Pickle Lake gold camp.

Alterra has appointed John McGlue to its advisory board as it gears up to enter the potentially lucrative agricultural sector with an initial focus on the avocado market. McGlue brings over 30 years of experience in corporate communications and financial markets to Alterra and he is the founder and Principal of corporate advisory firm, Castle Gates Australia. Alterra provides a co-investment model as a potential vehicle for farmers to diversify their conventional bank funding models.

Africa-focused lithium developer, AVZ Minerals appears on track to deliver its definitive feasibility study in the first few months of 2020 at its massive Manono lithium and tin project in the Democratic Republic of the Congo. Phase two metallurgical test work continues to deliver encouraging results in support of the ongoing DFS. Testing previously generated a spodumene concentrate that exceeds 6% lithium oxide and the company says that phase two met results are lining up well.

Metallurgist and mining executive, Marc Ducler, has taken the helm at Anglo Australian Resources whilst experienced mining lawman, Leigh Warnick, has been appointed Chairman. John Jones, Peter Stern and David Varcoe will remain on the board as part of a pre-Xmas peace deal that saw the warring parties place their batton’s back in their knapsacks and appoint the largely independent team of Ducler and Warnick to spearhead the company.

It’s raining gold for Rox Resources and Venus Metals at their Youanmi South project after the partners made a spectacular 14m drill intersection going an ounce to the tonne gold from just 1m deep. The new drill hit also included 5m grading 77.03g/t gold and 3m grading an exceptional 123.66g/t gold. Youanmi has been the gift that keeps on giving this year for multiple parties.

The Davyhurst gold project has gifted Ora Banda Mining a grab bag of impressive drill results for Xmas with the first being a stunning 19-metre intersection grading 24.5 grams per tonne gold from 63 metres downhole. The new intersection includes a 6.4-metre zone grading well over 2 ounces to the tonne at 71.6 g/t. Davyhurst looks well set to ride again under a reconstituted Ora Banda Mining.