Public Company News

Image Resources has banked its first cheque from the export of heavy mineral sands concentrate from its zircon-rich Boonanarring mineral sands mine located in the North Perth Basin region of WA. The first bulk shipment of about 10,000 wet metric tonnes of concentrate was shipped from Bunbury Port this week, with payment secured via a letter of credit from Image’s Chinese off-take partner, Natfort.

Calima Energy has successfully intersected the target Montney formation in the first of three gas wells completed in British Columbia, Canada, reporting that a 230m vertical section of the rock sequence was recovered at a depth of about 1.5km below surface. The company said that elevated gas readings were encountered during the drilling program, with gas escape bubbles noted at the base of the drilling rig during operations.

Strike Energy has agreed to share the rig mobilisation costs with another Perth Basin operator to drill its exciting West Erregulla gas permit just north of Perth in WA, with the program expected to kick off in May. Recent reprocessed 3D seismic work produced gas volume estimates ranging between 607 and 1,296 billion cubic feet for the Kingia-High Cliff targets, with a best estimate of 916 bcf.

ASX listed Biotech upstart PharmAust says that its ongoing clinical research in Melbourne is demonstrating that its anti-cancer drug, Monepantel’s principle end-product, metabolite Monepantel Sulfone, retains the same biological activity as the drug itself. The metabolite shows little side effects upon healthy, non-cancerous cells and works together with Monepantel, producing a “double kick” in eliminating cancer cells. Reduced dosing treatments are envisaged for upcoming canine and human trials.

Caravel Minerals has drilled multiple zones of thick copper mineralisation at the Dasher prospect within its namesake project, located northeast of Perth in the Wheatbelt region of WA. Best intersections include 56m @ 0.53% copper from 18m down-hole and a new deeper discovery of 31.7m grading 0.42% copper from 146m down-hole that included a higher grade 13.7m section going 0.61% copper from 164m.

Metalicity has appointed Non-Executive Director Mathew Longworth as its new Chief Executive Officer to drive the company’s new focus on the exploration for copper and nickel in the sought after Paterson province of the Pilbara region in Western Australia. This follows founding Managing Director Matt Gauci’s decision to step down from his position with effect from 10 January 2019.

Rare earth element developer Greenland Minerals has chosen leading Chinese technical group BTMR Laboratories to supervise the optimisation of its Kvanefjeld project ore flotation circuit in southern Greenland, based on recent work showing recoveries above 80% and concentrate grades exceeding 22% rare earth oxide. The encouraging metallurgical results are likely to materially reduce operating and capital expenditure requirements at the massive project.

Azumah Resources has unearthed more high grade gold hits of 1m @ 140.49g/t gold from 208m down-hole and 5m @ 6.02g/t gold from 214m at the Kunche deposit of its flagship Wa project in Ghana. This has extended mineralisation at Kunche to about 200m below surface, confirming that the mineralisation of the deposit extends to depth and remains open at present

Classic Minerals has exercised an option to fully acquire two exploration licences over the prospective Kat Gap gold project at the southern end of its under-explored Forrestania gold project, near Southern Cross in WA. Drilling programs for Kat Gap will kick off later this month, to follow up on existing shallow, high-grade results and to confirm the width and tenor of historical drilling.

Alterra is laying the groundwork for the expansion of its agribusiness with the appointment of veteran agricultural executive Oliver Barnes as the incoming Managing Director to strengthen its executive team. Current Managing Director Andrew McBain will remain in his position until Mr Barnes takes up his new position in early April following a notification period, after which he will remain as an Executive Director.

Conglomerate gold developer Novo Resources has extended and expanded its non-binding 2017 MoU with Japanese heavyweight Sumitomo Corporation, to help develop its significant suite of Australian gold projects dotted throughout the Pilbara region of WA. Sumitomo has agreed to provide personnel and up to 5 billion Yen – about AUD$64.4m – to evaluate, advance and develop Novo’s vast tenement holdings into economic gold mining operations.

Venus Metals’ farm in partner Lepidico has intersected multiple lepidolite-bearing lithium pegmatites at the company’s Youanmi project tenements in the Murchison region of WA. Better results include 12 metres grading 0.68% lithium oxide from 6 metres down-hole, 2m @ 1.58% lithium oxide from 31m and 4m @ 0.76% lithium oxide from 23m.