Public Company News

Toro Energy’s Wiluna uranium project may grow with the addition of ore from two of the company’s 100 per cent owned satellite deposits now being assessed as part of an extension study. Ore from the company’s Lake Way and Centipede-Millipede deposits, which are about 70km west of the project’s main Lake Maitland deposit, may add to the project’s already impressive financial metrics that predict a $100m a year EBITDA for 17.5 years.

American West Metals has appointed current non-executive director and 40-year mining veteran Dan Lougher as non-executive chairman of the company. Lougher has a track record of developing and operating large-scale base and precious metals assets in Australia, North America, Africa and Europe and will oversee American West as it looks to develop its potentially massive Storm copper project in Northern Canada.

Larvotto Resources has finished a metallurgical auger drill program to determine just how much gold, tungsten and antimony was left behind in tailings from mining campaigns dating back to the eighties at its Hillgrove project in NSW. Encouragingly, old records show gold averaging 1.34 grams per tonne and plenty of tungsten was shipped into the 1.4m tonnes of tailings during historic antimony mining.

Vanadium magnetite concentrate from Surefire Resources Victory Bore project will potentially be shipped to Saudi Arabia where it will be processed into vanadium-titanium-magnetite end products under a new agreement to be thrashed out between Surefire and Saudi based Ajlan & Bros Mining and Metals Company. The deal will also likely involve Ajlan investing directly into Victory Bore.

White Cliff Minerals has added 3300sq-km to its Canadian portfolio after securing the Radium Point multi-element project in the Northwest Territories province that takes in several historical mining operations. The company is focussed on iron-oxide-copper-gold-uranium deposits and silver mineralisation in the area that hosts the historical Eldorado, Echo Bay and Contact Lake mines.

In the next Bulls N’ Bears instalment on what made stocks jump in 2023, we look at how ClearVue Technologies bucked the trend of how big share price movers were mainly companies that stare at the ground for a living. It proved that staring through solar power-generating windows can also move the market when it hit a high of 66 cents in November.

This week’s Bulls N’ Bears top ASX runner is… Kali Metals. Its share price rose up some 256 per cent to join fellow movers and shakers Culpeo Minerals, Jupiter Energy and Singular Health Group.

Alma Metals has expanded the Briggs, Mannersley and Fig Tree Hill joint venture it shares with Canterbury Resources in central Queensland after grabbing two new exploration permits adjacent to the project. The JV ground includes the Briggs porphyry copper-molybdenum deposit that contains an inferred mineral resource of 415 million tonnes at 0.25 per cent copper and 31ppm molybdenum.

While 2023 saw explorers flock to the James Bay region of Quebec in Canada, a host of ASX-listed companies set their sights further north to the province of Nunavut to hunt for gold, copper and critical minerals. With Quebec becoming a little too popular, several hopefuls decided to roll the dice in the cold, but far less crowded province of Nunavut.

Senior geologists from giant Chinese battery raw materials supplier Huayou Cobalt have made a snap visit to Namibia to assess Askari Metals’ trenching and channel sampling progress at its Uis lithium project. Huayou, a major supporter and key strategic and technical partner of Askari, is listed on the Shanghai Stock Exchange with a market capitalisation of about US$12.8 billion (AU$19 billion).

New seismic data has revealed that Triangle Energy may be sitting on a gushing 36 million barrels of oil and 535 billion cubic feet of gas as best-estimate prospective (P50) resources in the North Perth Basin. The company plans to drill-test two of its 12 new prospects that hold part of the volume, with wells kicking-off in the first half of this year.

Buxton Resources has discovered an extension to the porphyry copper-molybdenum system at its Copper Wolf project in Arizona that is not a part of the nearby JV it shares with mining giant IGO. The new “Wolverine” prospect gave up rock chip samples going as high as 14.1 per cent copper and 1160 parts per million molybdenum, suggesting the potential for a fertile porphyry system below.