Michael Philipps

Mining software provider K2fly’s shares hiked 85 per cent today after revelations emerged that the company is set to be taken over by globally-renowned, technology-focused investment firm Accel-KKR. Under the binding scheme implementation deed signed by the two companies, K2fly shareholders will be entitled to receive 19c per share – representing a massive 90 per cent premium on the company’s previous closing price of 10c.

This week’s Bulls N’ Bears ASX Runner of the Week is … Schrole Group. Its shares jumped 187.5 per cent as the new listing of Mexican fast food chain Guzman y Gomez also tantalised the market’s tastebuds in an impressive debut. Other ASX movers and shakers this week included Terra Metals, Lithium Plus Minerals and HeraMED.

Xanadu Mines has identified key follow-up targets at its Red Mountain project in Mongolia after returning positive copper and gold results from near-surface in a discovery drill campaign across four prospects. The company recorded epithermal gold extensions in shallow mineralisation at its promising Target 33 prospect, with assay highlights showing a 41m hit grading 1.07 grams per tonne gold from 34m.

Radiopharm Theranostics looks set to fill its coffers with a healthy $18 million following a strategic equity investment and asset transfer deal with leading United States-based radiopharmaceutical company Lantheus Holdings. Lantheus has agreed to make an initial strategic equity investment of $7.5 million in Radiopharm at an offer price of 0.5c per share – a whopping 47 per cent premium to the last closing price.

With niobium-related news again rattling the ASX market this week, Lycaon Resources is getting closer to launching its hunt for the lustrous metal in Western Australia’s West Arunta region after scheduling heritage surveys for next month. Recent discoveries by WA1 Resources and Encounter Resources have demonstrated the potential for the West Arunta region to host significant niobium and rare earths mineral systems.

Chariot Corporation has moved quickly to get boots back on the ground at its Black Mountain lithium project in Wyoming, with exploration activities kicking off just one month after phase one drilling finished. The announcement caused a flurry of interest on the ASX, with the company’s shares jumping more than 31 per cent from a previous close of 18c to touch 23c during intraday trading.

Strickland Metals is convinced it has one hand wrapped around the tail of a “significant-scale” mineralised system at its Rogozna gold and base metals project in Serbia after step-out drilling spat out a new suite of solid results. The company plans to quickly follow up the positive assays from its Medenovac prospect, with a 10,000m diamond drill campaign set to kick off this week.

A successful drilling campaign at White Cliff Minerals’ Reedy South gold project in Western Australia’s proven Cue goldfields has produced extensions along strike and at depth to the already-defined 42,400-ounce mineral resource at the site. The company says it recorded positive results from the 2000m reverse-circulation program, including a consistent 79m intercept grading 1 gram per tonne gold from just 10m.

Surging uranium prices have prompted Toro Energy to release an updated scoping study into its Lake Maitland project in Western Australia, with the new data showing a bulging EBITDA of more than $2.3 billion during its 17.5-year mine life. The latest figures assume prices of US$85 (AU$128.50) per pound of uranium oxide and US$5.67 (AU$8.57) per pound of vanadium oxide.

This week’s Bulls N’ Bears Runner of the Week is … MRG Metals. Its shares jumped 400 per cent on the back of it signing a binding joint venture agreement for its Corridor Sands project in Mozambique to see it join fellow movers and shakers NeuRizer, Reach Resources and Pearl Gull Iron.

Lithium Universe has cleared another key component in its plans to develop the proposed Bécancour lithium refinery in Canada after the successful completion of two environmental field studies at the site. In February, the company secured a prime location for its proposed refinery after executing an option agreement to purchase a commercial property in the province of Quebec.

Aurum Resources is building its bank balance ahead of a beefed-up exploration blitz across its Boundiali gold project in Côte d’Ivoire, with a maiden JORC resource expected before the year’s end. Management has received firm commitments from a $17 million two-tranche placement and is also offering eligible shareholders a shot at a $3 million share purchase plan in a bid to pocket about $20 million.

Reach Resources’ mission to find the mineralisation source at its Wabli Creek project in Western Australia’s Gascoyne region appears to have paid off, with samples chipped off the bedrock at the site returning 17.65 per cent niobium oxide. A recent geophysical data review at the operation identified an oval-shaped magnetic intrusive it believes is linked to the source of niobium, yttrium and rare earths mineralisation.

This week’s Bulls N’ Bears ASX Runner of the Week is … The Calmer Co International. Its shares jumped 185 per cent on the back of a significant spike in online and retail sales for its products to see it join fellow movers and shakers Firetail Resources, Osteopore and INOVIQ.

A comprehensive analysis study by Askari Metals has identified seven new lithium pegmatite targets at the company’s Uis project in Namibia, with a detailed mapping and rock sampling campaign already underway. Management says its recently-discovered K10 pegmatite has an interpreted strike length of 3.1km, the GP target has an estimated length of 2.4km and its Tawny prospect extends for 2.2km.

Lithium Universe says it is making significant progress in definitive feasibility study work for its proposed Bécancour lithium refinery in Canada, with process flow sheets and stream tables already finalised. The company has plans for a 16,000 tonnes per annum battery-grade lithium carbonate refinery in the North American nation, with heavyweight engineering firm Hatch commissioned to undertake a comprehensive study for the refinery’s design.

A four-stage plan has allowed Reach Resources to consolidate its share position, negotiate a farm-in deal, raise cash and focus its attention on multiple targets at its Wabli project in WA’s Gascoyne region. The strategic repositioning comes hot on the heels of the company identifying a magnetic intrusive it believes may be linked to the source of niobium, yttrium and rare earths at Wabli Creek.

This week’s Bulls N’ Bears Runner of the Week goes to … DY6 Metals, which hiked more than 505 per cent on the back of impressive historic rare earth assays at its Tundulu project in Malawi. It joins fellow runners Forrestania Resources, Nanoveu and DeSoto Resources.

ASX-listed Aurumin will focus its attention on its flagship Sandstone gold project in Western Australia’s Mid West region after completing the last of its strategic divestments near Southern Cross in a deal with Kula Gold. The company has entered into a binding term sheet for Kula to acquire an initial 51 per cent interest in the Mt Palmer project for $250,000 in cash or shares.

Meeka Metals has outlined its pathway to gold production, with plans to mine 400,000 ounces during an initial nine-year mine life at its Murchison project following the release of a definitive feasibility study. The operation, near Meekatharra in Western Australia, hosts a mineral resource of 1.2 million ounces at 3g/t gold, with an ore reserve of 2.5 million tonnes at 3.8g/t for 305,000 ounces.

A geophysical data review at Reach Resources’ Wabli Creek project in WA’s Gascoyne region has identified a magnetic intrusive it believes may be linked to the source of niobium, yttrium and rare earths mineralisation. The target is coincident with previous high-grade results from eluvial samples and soil geochemical anomalies including 32 per cent niobium oxide, 0.72 per cent yttrium oxide and 2.6 per cent TREO.

Aurum Resources has recorded its highest-grade gold hit to date from diamond drilling at its Boundiali project in the West African nation of Côte d'Ivoire, with 1m going 163 grams per tonne from 277m. The impressive section was contained within a wider 12.22m intercept grading 14.56g/t gold from 275m that was recorded 60m down-dip from a previous 4m segment at 22.35g/t from 226m.

White Cliff Minerals is poised for an exploration blitz when it kicks off a maiden fieldwork campaign at its Nunavut copper-gold-silver project in the northern Canadian province of the same name. The company has already identified a slew of high-priority targets at the operation and its imminent field campaign has been designed to include detailed geological mapping and sampling ahead of a maiden drill program.

Aruma Resources is heralding the potentially “company-changing” acquisition of two copper operations in Queensland and a highly-prospective iron oxide-copper-gold and uranium play in South Australia. As part of a share acquisition agreement with NHM Holdings, the company has picked up the Wilan project near Olympic Dam in SA, while also adding the Fiery Creek and Bortala copper operations near Mt Isa in Queensland.

This week’s Bulls N’ Bears Runner of the Week is … Strategic Energy Resources. Its share price jumped more than 170 per cent to join fellow movers and shakers Gibb River Diamonds, Sierra Nevada Gold and Charger Metals.

Quantum Graphite’s JV partner Sunlands Energy has secured a patent green light for its thermal energy storage graphite cell technology from the powerful US Patent and Trademark Office. Management says the patent ensures its participation in the world’s biggest energy storage market. Thermal energy storage cells are devices that temporarily store energy to be used later for power generation.

Strickland Metals has delivered “outstanding” initial results from the first two diamond drill holes sunk at its Palomino prospect near Wiluna in WA, with a solid 17m hit grading 10.6g/t tonne gold from 144.7m. The impressive intercept contains a 3.5m section going 15g/t gold from 150.1m, while the second hole returned 13.7m at 6.3g/t from 133.4m including 3m reading an eye-catching 20g/t from 133.9m.

Everest Metals has delivered high-grade gold grades including 97 grams per tonne in a 1m hit from just 8m after rolling out drill and blast works at its Revere gold and base metals project in Western Australia’s Mid West region. The company says the evidence of near-surface gold mineralisation confirms and continues to support the existence of a large-scale orogenic gold system at the operation.

White Cliff Minerals is primed to get boots on the ground at its Great Bear Lake project in Canada’s Northwest Territories, with a comprehensive data review identifying a slew of priority multi-mineral targets. Management has highlighted its Thompson, Hunter Bay, Sparkplug Lake and Spud Bay prospects as high priorities and found evidence of potential IOCG mineralisation at its southern Luv Lake, OMNI and HD44 areas.

This week’s Bulls N’ Bears Runner of the Week is … Sun Silver. Its share price jumped 225 per cent in a photo finish with Errawarra Resources, which also leapt 225 per cent, to join movers and shakers Australian Copper and Gold and First AU.

Terrain Minerals will pocket $300,000 to fund its multi-mineral exploration focus after selling off its 100 per cent-owned Wildviper gold project in WA’s Goldfields region to next door neighbour Northern Star. The company has entered into a binding sale and purchase agreement with the major miner to divest the project’s exploration license that sits close to Northern Star’s Bundarra gold deposit.

Surefire Resources has made a key boardroom addition to help guide its Victory Bore vanadium project in WA’s Mid West after appointing experienced finance specialist Jan De Jager as its new chief executive officer. The company recently released an updated Victory Bore mineral resource estimate of 465 million tonnes at 0.3 per cent vanadium oxide, 5.1 per cent titanium dioxide and 17.7 per cent iron.