Public Company News

MGC Pharmaceuticals has expanded the number of patients prescribing for or being processed to receive prescriptions for its medical cannabis-based pharmaceutical products in Australia, the UK, Brazil and Ireland with the company racking up over 1800 prescriptions to-date. Management said the milestone readily demonstrates its strengthening position and momentum in those key markets, with its sales graph continuing to climb month by month.

Bellevue Gold has set a cracking pace this year, turning its namesake project near Leinster in WA back into a living breathing thing after most technocrats had written it off as a mined out deposit. The company’s market cap rocketed to around $300m after catching the market’s attention in 2017 when it went looking for a parallel gold lode adjacent to the historically mined Bellevue mine.

K2fly has reinforced its emerging prominence in the resource’s software space with mining giant, Teck Resources, extending its annual “RCubed” software contract with K2Fly out to three-years. K2fly said it has now locked down total contract values of over $2 million from its RCubed software as a service, or “SaaS”, as clients sign onto three and five year terms. The latest numbers come only weeks after the ASX-listed company signed a five-year software contract with Rio Tinto.

Kingwest Resources’ has rounded out the year at its Menzies gold project with some nice hits including 2.48m @ 23.22g/t that included almost half a metre going a whopping 110g/t – or 3.5 ounces to the tonne gold from the First Hit prospect. First Hit produced the best intercept of the year for Kingwest at 57.6 gram metres from 121.52m downhole, followed by Pericles with 41.5 gram metres.

Azumah Resources’ is weighing up funding options for its share of capital costs for the Wa gold project in Africa with an estimated $75 million in potential equity financing on the cards. Azumah has also appointed Peder Olsen to oversee the development of the Wa gold project. Olsen recently lead Endeavour Mining’s construction of the US$425m gold mine at Ity in Cote d’Ivoire.

Ora Banda Mining should be a leading player in the reinvigoration of WA’s Eastern Goldfields mining region over the next decade. Following a corporate restructuring and a brief period in Administration under previous management, the company has been busy scrubbing up its Davyhurst gold project as it builds a robust ore inventory, finalises its mine approvals and completes the economic modelling necessary for the restart of production.

Troy Resources has hit the ball out of the park with an amazing 17m drill intersection going nearly 5 ounces to the tonne gold in South America. Importantly, the smashingly good intersection was encountered just 37m down hole at the company’s Hicks 1 extension within the Karouni Gold project. As a final curtsy to the crowd, it also included a 4m section grading an eye-watering 623.17g/t gold.

It is difficult to know just how many golden secrets Anglo Australian’s Mandilla Gold project might still be hiding with recent drilling potentially identifying an 800-metre-long new target in the “Western Zone”, with results like 37m @ 1.64g/t gold from 104m. The new Western Zone is just to the west of Anglo’s Mandilla East deposit which is also growing in stature and size.

TNG Ltd has made the final leap towards securing buyers for 100% of its entire forecasted production from its flagship Mount Peake, vanadium-titanium-iron project in the Northern Territory, after signing the final off-take term sheet with Indian mining conglomerate, Vimson Group, for the iron to be produced from Mt Peake. The last hurdle comes after the company announced just yesterday it had secured offtake agreements for 100% of its vanadium pentoxide products.

Active minerals sands miner, Image Resources, may have found a new, 40 kilometre long shoreline trend running both west of and parallel to its current zircon-rich Boonanarring heavy minerals ore reserves in Western Australia. The company has been busy with the drill rig throughout 2019 as it goes about upgrading Boonanarring’s proven reserves of 9.3 million tonnes at 8.6% heavy metals and its probable reserves of 10.5Mt at 5.9% HM.

PharmAust has expanded its national network of participating veterinary and university institutions who will join the ASX-listed biotech’s anti-cancer crusade for dogs. With the pace of phase II clinical trials for its promising “Monepantel” anti-cancer treatment projected to rise, the company is looking to impact K9 – and possibly even human – cancers. Phase I trials were very positive, with a notable reduction in cancerous tumours and prolonged lifespans.

Multi-commodity explorer, Venus Metals, has received a vote of confidence from Queensland multi-millionaire and veteran coal miner, Christopher Wallin, who has ploughed $4 million into the company at 20 cents a share. The investment gives Mr Wallin, one of Australia’s top 50 richest people, a substantial 17.25% stake in the Perth based ASX-listed company as it attempts to unlock some riches in the Youanmi mineral province in WA.