Announcements

The WA Government has stumped up $175,000 for research into the extraction of rare earths, predominantly within the State’s Yilgarn region, with Perth-based geological firm RSC Consulting to lead the study. RSC will work closely with respected WA junior mining firms Terrain Minerals, Dreadnought Resources, Narryer Metals, Pluto Resources and Curtin University’s Resources Technology and Critical Minerals Trailblazer program.

Buru Energy has rolled out a bold plan to focus attention and capital on its flagship Rafael gas and liquids project in WA's Canning Basin, set to begin production in 2027. To ensure Rafael’s success as a future cash cow, the company has kicked off a $3 million cost-cutting program and the sell-down of non-core assets, directing capital where it matters most.

Suvo Strategic Minerals has extended for a further three years a major hydrous kaolin supply contract with Tasmanian paper mill operator Norske Skog, which may boost sales by up to 50pc. Suvo also anticipates sales volume growth this year from other existing clients and is awaiting larger batch field trial results for its kaolin products.

It’s raining gold! Meeka Metals has produced a veritable shower of significant gold hits from drilling ahead of mining at its St Anne’s North zone, with a best intercept of 33m going 3.07g/t gold from 42m. The intercept includes 8m assaying 4.51g/t gold, another 6m running 4.58g/t gold and an additional 1m at 28.50g/t gold.

Xanadu Mines has handed over the reins of its flagship Kharmagtai copper-gold project in Mongolia, following the successful transition of operatorship to its joint venture partner, Chinese mining giant Zijin Mining. Zijin will now progress the world-class Kharmagtai project towards final development, following a promising prefeasibility study delivered by Xanadu late last year.

Strickland Metals has launched into 2025 with a bang, revealing strong vertical extensions at its Shanac gold-copper skarn deposit in Serbia. The new results, which came from a single hole targeting the underexplored southern extent of the prospect, included an 80.2m intercept at 1.9g/t gold equivalent from 501.9m, featuring 11.7m at 4.3g/t gold equivalent and a 30.1m section grading 1.6g/t gold equivalent from 438.9m.

Latitude 66 says an ongoing scoping study, due in March, has identified the K2 deposit as an ideal source of high-grade ore to kick off a standalone mine and generate early cashflows at its flagship Kuusamo Schist Belt Project gold-cobalt project in northern Finland. Consultants have also finalised pit optimisation, mine designs, process flow sheets and scheduling for a new development.

In this edition of Bulls N’ Bears Big Hits, we examine some notable drill intercepts revealed on the ASX, including Ordell Minerals’ 22.70m at 4.09g/t gold intercept from 71.3m from its Barimaia project in WA. We also take a close look at other interesting drill hits from last week as reported by Sierra Nevada Gold in the USA and Asian Battery Metals in Mongolia.

Ardea Resources has hit the ground running at its massive Goongarrie Hub nickel laterite project in WA’s Goldfields with four drill rigs active and several work contracts already awarded. Supported by mega joint venture partners Sumitomo and Mitsubishi, the $98.5 million DFS is looking to prove up the economics of turning the project into a low-cost, multi-decade laterite nickel-cobalt producer.

This week’s Bulls N’ Bears Runner of the Week is … Wellard Limited. The company is quitting the livestock transport business and spiked on news it has sold a ship for US$50 million. Condor Energy increased its gas resource by 147 per cent, Western Gold Resources revealed a preferred contractor for its Gold Duke operation and Terrain Minerals kicked-off drilling at its Lort River nickel-copper project.

Meeka Metals’ drilling at its Turnberry resource in WA’s Murchison continues its alluring run of gold hits in combinations of thick intercepts and high grades that would make any seasoned miner salivate. The best intercept from one of its reverse circulation drill holes was 10m at 15.71g/t gold from 114m, including 1m going 34.70g/t gold and another 1m interval at an astonishing 113g/t gold.

Ora Banda Mining produced 22,973 ounces of gold in the December quarter at 2.9g/t, totalling 47,300 ounces for the half year. All-in sustaining costs rose 14.7pc to $2536 due to processing residual low-grade ore. With the Riverina mine paying for itself inside 18 months, Sand King is set to boost output to 150,000 ounces annually by June. Cash reserves grew by $9m to $57.8m.

A consortium of South Korean mega-energy firms is set to enter into an agreement with Pilot Energy to jointly develop the Mid West clean energy project in the Perth Basin to secure a supply of ammonia. The ammonia will be used in coal-fired power plants. The consortium received more than $2m in funding last November from the Korea Export-Import Bank to conduct a feasibility study on the project.

Strickland Metals is poised for a blockbuster start to 2025, with key assay results from the Shanac and Gradina deposits at its flagship Rogozna project in Serbia expected next week. A maiden resource estimate for the Medenovac deposit is slated for late February, while at its Yandal project in WA, an updated resource estimate is on track for late March.

Terrain Minerals has launched into an eagerly awaited reverse circulation drilling campaign early at its Lort River copper-nickel project in Western Australia’s renowned Albany-Fraser Belt. The campaign will target two high-priority Nova-Bollinger-like sulphide conductors, hot on the heels of promising ground-based electromagnetic survey results completed last month.

St George Mining has inked a nine-month non-exclusive memorandum of understanding with one of the world’s leading steelmakers, the China-based Liaoning Fangda Group, which may lead to a deal to supply at least 20 per cent of future niobium production from its Araxá REE project in Brazil in exchange for funding support.

ABx Group’s 83 per cent owned subsidiary ALCORE is set to produce aluminium fluoride at the company’s pilot plant, which will be established at a facility adjacent to Rio Tinto Aluminium’s Bell Bay smelter in northern Tasmania. ALCORE plans to prove its world-first process to produce hydrogen fluoride from smelter waste, which will then be converted into aluminium fluoride, essential for the aluminium smelter industry.

GreenTech Metals has rebooted its 4000m stage two diamond coring drilling program at its Whundo massive sulphide-hosted copper-zinc project in WA’s West Pilbara, chasing downhole conductors at four target areas. A stage one 1710m reverse circulation drilling program, done and dusted last July, produced encouraging results supported by follow-up geophysics, prompting the current stage two campaign.

Horizon Minerals has poured its first gold bars from ore hauled from its Boorara project, near the famous mining town of Kalgoorlie in WA, under its ore sale agreement revealed last year with Norton Gold Fields’ Paddington mill. Proceeds from the sale are expected to be pumped into the company’s bank account within the week.

Legend Mining has reached for some innovative exploration techniques at its Rockford nickel-copper project in WA’s Fraser Range, earning it a windfall $1.77 million research and development cash refund from the taxman. Legend’s high-power fixed loop electromagnetic equipment has pushed the boundaries of traditional electromagnetics by identifying targets at depths below 600m.

Horizon Minerals has pumped $6.345 million into its bank account via an at-market share placement of 4.5c per share with a further $3.28 million expected shortly, all earmarked for the development of its soon-to-be producing gold deposits. Privately-owned Golden Crane Holdings will stump up the entire $9.625 million via a two-tranche placement in exchange for approximately 213 million shares in Horizon.

This week’s Bulls N’ Bears Runner of the Week is … Sparc Technologies. The company is developing new-age hydrogen technology using sunlight to split water without the use of an electrolyser. Argent Biopharma raised funds at a significant premium to its last closing price while Australian Mines boosted its scandium resource and Dimerix revealed a tie-in with a Japanese pharmaceutical firm to treat kidney disease.

Aurum Resources has tightened its grip on fellow West African gold explorer Mako Gold, boasting an 86.77 per cent ownership stake and setting the stage for the final act. Having already declared its off-market takeover bid as unconditional, Aurum has now upped the stakes by branding its bid “Best and Final,” signalling a determination to close the deal.

St George Mining has joined forces with two of Brazil’s leading government scientific agencies to develop an optimal downstream process for the company’s niobium and rare earth mineralisation at its Araxá project. The company recently secured $20 million in funding to acquire 100 per cent of the project located within the renowned mining region of Minas Gerais in south-east Brazil.

Reach Resources has kick-started a highly anticipated reverse circulation drilling program at its Murchison South gold project marking the first time its new geological model will be tested at the site near Paynes Find in Western Australia. The program is focused on reevaluating previous structural controls and targeting high-grade zones identified to be connected to the newly interpreted Primose fault structure.

Thunderbird Resources has scooped the services of industry veteran George Ventouras as executive chairman in a shift the company says is a strategic move to accelerate an ambitious exploration agenda at its Rockvale and Kookabookra antimony-gold projects in New South Wales. Ventouras has stepped into his new role following the resignation of former executive chairman, George Bauk.

The share price of Meeka Metals soared to a record high of 10.2 cents today after unveiling a set of stunning gold hits from its drilling at St Anne’s, part of the company’s flagship Murchison gold project in Western Australia. The results included a jaw-dropping 10m section grading 52.79 grams per tonne (g/t) gold within a broader 23m intercept running at 26.73g/t.

Terrain Minerals has revealed an ambitious exploration roadmap for 2025, pitching a diversified drilling assault across WA on gold, nickel, copper and gallium targets. The company is gearing up for two significant reverse circulation (RC) drilling campaigns at its flagship Smokebush gold-gallium and Lort River nickel-copper projects which is set kick-off this month and continue through the quarter and beyond.

In a move that brings St George Mining a step closer to becoming a key critical metal producer, the company has raised $20 million in a placement to new and existing investors. The funds will be used to finalise its acquisition of the high-grade Araxá niobium-rare earth (REE) project in Brazil, adjacent to CBMM’s world-leading operations in Minas Gerais, with settlement now due in March.

Aguia Resources is fast approaching first gold pour at the company’s ultra high-grade Santa Barbara gold project in Colombia as it ramps up the mine and its processing plant to treat 50tpd of ore for the shiny yellow metal. The first 25 tonnes of ore has now been mined and loaded into a series of agitator tanks in preparation for the carbon-in-leach solution.

As Meeka Metals moves towards first mining in March, it has jagged more high-grade gold at its Murchison project in WA with 1m at 154.5g/t gold in 6m intercept at 26.47g/t from its ongoing infill RC drilling. Management says the findings have reinforced the company’s confidence in its open pit production strategy, with the first gold pour scheduled for late June or early July.

Galan Lithium has secured phase two permitting for its Hombre Muerto West and Candelas lithium brine projects in Argentina’s world-class Lithium Triangle. The permit allows for expanded production of up to 21,000 tonnes per annum of lithium carbonate equivalent and sets the stage for Galan to scale its operations in line with a predicted lithium market bounce back.