Announcements

ASX-listed PharmAust Limited has chalked up a remarkable success with its rapidly developing “Monepantel” anti-cancer drug after its latest trial on man’s best friend showed a significant turnaround in the health of dogs suffering from naïve B cell lymphoma. One dog achieved greater than 60 per cent reduction in tumour burden, with one of its tumours regressing completely.

ASX-listed AVZ Minerals has shifted gear into the planning and execution phase of its giant lithium and tin project in the Democratic Republic of Congo that is expected to spit out some $600m a year in EBITDA. AVZ’s technical team is now putting effort into seeking tenders from companies identified in the DFS for various work packages required for the construction phase.

Hammer Metals has received results from the first phase of its JOGMEC joint venture exploration program at its Mount Isa Project in Queensland and they have thrown up some pulse quickening numbers from rock chip samples including 6.7 grams per tonne gold and 28.2% copper. The positive results have now triggered the second phase of work.

ASX-listed Horizon Minerals has broken ground at its Boorara gold deposit just 10km east of Kalgoorlie’s super pit with first gold now expected to be produced at the nearby Lakewood mill in July this year. Horizon said it has now bagged up all necessary approvals and permits and has $4 million in capital ready to deploy with Hampton Transport set and on call to haul the ore.

ASX-listed 88 Energy has released its bidders statement in support of its off-market takeover of fellow Alaskan-focused oiler, ASX-listed XCD Energy. Both boards have given unanimous support recommendations to shareholders for the proposed takeover that was announced last week. The offer is 2.4 new 88 Energy shares for each XCD share held and 0.7 new 88 Energy shares for each XCD Energy listed option held.

In a remarkable move, Deep Yellow has managed to convert nearly 100 per cent of one of its world-class uranium resources at the Tumas 3 deposit in Namibia from “inferred” to the higher confidence, “indicated” category, upgrading just over 24 million pounds of eU3O8 grading 313 parts per million. The uranium developer said that the global Tumas 3 mineral resource now stands at 36.8Mlb grading 328ppm eU3O8.

In an extraordinary demonstration of its aim to “close the loop” on the energy-metal cycle, Lithium Australia has tabled its initial results from test work using recovered alkaline battery metal dust to create a micro-nutrient supplement for plant fertilisers. Lithium Australia conducted “glasshouse pot trials”, growing wheat in a variety of controlled scenarios including using the recycled dust.

Adriatic Metals has expanded its footprint in the Balkans by moving to acquire TSX-listed Tethyan Resource Corp and its basket of in-country poly metallic assets ranging from historical mines and established resources to some very compelling exploration ground in Serbia. The deal will expand Adriatic’s land holdings in Europe to over 301km2 across Bosnia and Serbia.

Great Southern Mining has re-stocked its financial armoury with commitments received to raise $3.15M in a placement that will see the ASX-listed company turbo charge its exploration program at its Cox’s Find gold project in Western Australia. Prior notable results from its maiden drilling program include 5 metres grading 14.54g/t gold and 5m grading 31.23g/t

Venus Metals has lodged four new tenement applications about 50 kilometres northwest of Menzies in Western Australia and it has identified some interesting gold and nickel targets by conducting a historical data review at the project. The project is nestled on the boundary between the revered Youanmi and Kalgoorlie Terranes in the central section of the Yilgarn Craton.

For the fourth time in as many weeks, Middle Island Resources has ferreted out another emerging deposit less than a kilometre from its mothballed 600Ktpa processing plant in Sandstone, underlining the company’s intention to restart gold mining in the historic West Australian mining precinct. New results have extended the Plum Pudding deposit to the south and include 3m grading 3.72g/t from 29m and 10m grading 3.08g/t from 41m.

Local heavy rare earths producer, Northern Minerals, has executed a letter of intent with Soluna Australia to develop a renewable energy power plant and battery storage facility at Northern’s Browns Range mine in the East Kimberley region of Western Australia. Soluna Australia is the energy storage division of ASX-listed Lithium Australia and Chinese joint venture partner, DLG Energy.

ASX-listed 88 Energy has received the unanimous support of the board of directors at XCD Energy after 88 Energy increased its off-market, all-scrip offer for the fellow Perth-based and Alaska-focused, small-cap oil exploration player today. If accepted, the improved offer will increase XCD security holders interest in 88 Energy post deal from 15 to 20 per cent.

ClearVue Technologies has boosted the power output of its smart solar window glass panel prototype by a massive 33 per cent to 40 watts per square metre after enlisting help from solar specialist, D2 Solar, based in San Jose in California’s Silicon Valley. The uplift in power output cannot be overstated for the ASX-listed ClearVue and may be something of a game changer.

With platinum group metals pricing reaching near record prices, Impact Minerals has re-analysed previous drilling samples from its poly-metallic Red Hill prospect in NSW and come across some remarkable numbers including 29m grading 10.9g/t 7PGM, which comprises the six platinum group metals plus gold. This near 30m zone includes copper grading 2.3%, 0.4% nickel.

Uranium developer, Deep Yellow, is backing its view that the uranium price is on the move, with significant metallurgical test work at its Namibian uranium play showing positive results that should provide a boost to the project pre-feasibility study. Deep Yellow has deep pockets too, with around $13M in the bank as at the end of Q1.

After thirteen years of research and development in advanced cathodic materials, ASX-listed Lithium Australia, via its subsidiary, the Very Small Particle Company, is about to ramp up its commercial cathode powder production. VSPC is finalising an agreement to produce 1,200 tonnes per of lithium ferro phosphate cathode powders initially in China to supply battery manufacturers to the burgeoning Chinese electric vehicle market.

The Grace prospect has come up with the numbers again for Venus Metals and its managing JV partner Rox Resources at their Youanmi South project in the Goldfields, with new results over 30 gold gram metres clearly defining a high-grade mineralised zone that sits within a wider overall series of repeating gold bearing structures that plunge to the north.

The Australian Government Foreign Investment Review Board’s rejections of Chinese investments into ASX-listed mining and exploration companies is confounding and building a looming dark cloud over a sector that often lives or dies on the back of Chinese investment. Northern Minerals lost $20m Chinese investment is a good case in point after FIRB, who looks to be captured by anti-Chinese sentiment right now, rejected that application.

The results are in for the initial laboratory test work from Lindian Resources’ maiden drilling program at its Gaoual bauxite project in Guinea, with the company declaring that it has a high-grade conglomerate bauxite play on its hands at the Bouba plateau. Lindian said the average grades from the primary Bouba plateau samples were 56% alumina and the “total available alumina” was in excess of 51% when measured at low temperatures.

Adriatic Metals has extended its Rupice high-grade poly metallic deposit in Bosnia another 20 metres at depth with a stellar intercept over nearly 9 metres running at 2.4g/t gold, 398g/t silver, 1.79% zinc, 3.16% lead, 0.35% copper and 45% barite from 368.5m down hole. The company said that this is the deepest massive sulphide intercept at the southern end of Rupice.

Chinese lithium giant Yibin Tianyi will take up a 9 per cent stake in AVZ Minerals by ploughing AUD$10.6M into a 4.5c a share placement. AVZ has also entered into an underwriting agreement to exercise listed options, potentially raising another AUD$5.3M after it tabled a stellar DFS on its giant Manono lithium project in the DRC.

Legend Mining’s Fraser Range play is getting a life of its own now with the company’s newest drill hole punching through another impressive zone of nickel-copper massive sulphides over a combined 13.5 metres, extending the emerging discovery at Mawson to nearly 400 metres in strike. Legend said the mineralisation is open to the south, northeast and east with further drill testing already underway.

Quantify Technology will supply its smart home power-points, light switches and other smart devices via distributor, Fokused, for ten new apartments in Cannington within the Velocity development that is being built under the Australian Government’s National Disability Insurance Scheme. Fokused and the design company have chosen to fit several devices to the new apartments that will effectively automate each apartment.

Private equity backed Barton Gold has emerged with WPG Resources’ South Australian assets after WPG fell over in 2018. They include the Challenger underground gold mine and plant, the Tarcoola Project containing the Perseverance open pit and the Tunkillia gold deposit. Barton says the Challenger underground mine, that was so central to WPG’s story, is not a current focus and the real prize is Tarcoola and Tunkillia.

Middle Island Resources continues to return outstanding results with the drill bit as it aggressively pursues a pathway to production at its Sandstone gold project in WA. The company’s extensive drilling program has uncovered three new discoveries in as many weeks and the Perth-based ASX-listed company has now laid out a strategy to fire up the old mothballed Sandstone plant.

ASX-listed mineral sands miner, Image Resources, is not resting on its laurels, having successfully commissioned its Boonanarring mine north of Perth in December 2018. The ASX-listed company has been systematically banking more ore horizons within a 10km radius on the mine with a view to underpinning and turbo-charging its longevity. 15,825 drill metres have now confirmed northerly and southerly extensions.

ASX-listed agricultural investment and management company, Alterra, has placed a major piece of its strategic puzzle into place after the Perth-based company inked a deal with Sydney-based family office investment platform, CapRaise, to source capital for its ongoing agricultural projects from a pool of up to 114 family offices that CapRaise provides investment opportunities for.

With an estimated A$600m a year in annual EBITDA, the economics at AVZ Minerals’ giant Manono lithium project in the DRC don’t need much turbo-charging, but that is exactly what the Perth-based, ASX-listed company is planning to do after it managed to produce separate, very high grade tin and tantalum concentrates in test work using traditional low cost processing equipment.

Middle Island Resources looks to be onto a third new gold discovery in as many weeks at its Sandstone gold project in Western Australia with the new “Old Town Well” deposit igniting interest following a phase one RC drilling program. The company is looking to translate good results from ongoing drilling into further resource expansions that will eventually support the recommissioning of its mothballed Sandstone mill.

ASX-listed tech player, Aurora Labs’ new board has wasted no time in implementing a cost saving program that is set to reduce annual expenditures by a whopping $6M a year. The cuts, which also include a paring back of executive pays and a lower overall head count, will see monthly overheads at the Perth based 3D metal printing specialist cut by 65 per cent.

Australian Potash has identified a large number of gold anomalies from a regional air core drilling program at its Lake Wells joint venture gold project located approximately 130km north-east of Laverton in WA. Drill intercepts of up to 6m at 0.327 grams per tonne gold have included anomalous levels of pathfinder elements often associated with gold mineralisation.