Announcements

MGC Pharma has moved a step closer to conducting clinical trials of medical cannabis in Australia and Europe after signing a deal to partner with Epilepsy Action Australia. The agreement means MGC will collaborate with Australia’s leading epilepsy association on future trials into how medical cannabis can treat the debilitating condition.

Recent drilling at Troy Resources’ Karouni gold mine in Guyana, South America, has increased the gold resource to more than 1.1 million ounces. In their latest annual statement of resources and ore reserves, Troy revealed a 48,000 ounce increase in ore reserves and an 83,400 ounce boost to inferred resources, adding around AUD$145m to the in-situ value of the resource.

ATM machine operator and EFTPOS supplier Stargroup, has reported a massive leap in its full-year profit following a standout year of growth. The company, which offers ATMs and EFTPOS terminals to retail outlets, on Wednesday reported its first ever net profit after tax for the year ended June 30 of $767,802. The result represents a giant turnaround on last year’s loss of nearly $2.9m 

ASX listed Sky and Space Global say they have validated their technical offering, revealing that their first wholesale customer has secured commerical contracts to sell some of the company's cutting edge nano-satellite bandwidth. The UK-registerd satellite company says the new deals underpin teh company's view that it could generate around US$500 milion per year at full tilt. 

When it rains it pours or so it seems for Rare Earths player Northern Minerals who banked $2.8m from Chinese interests a few weeks ago with another $27m to come. This week the George Bauk led company banked another $1.25m from the sale of their Northern Territory gold leases to Northern Star Resources with another $1.5m potentially still to come. 

Stargroup has inked a deal with a Swedish EFTPOS terminal supplier to exclusively distribute their “next generation” EFTPOS terminals in Australia and NZ. The deal provides a number of market advantages for Stargroup in the EFTPOS space, including the ability to access the software "source code" for each terminal, potentially opening up a swag of opportunities for the company. 

Despite a few minor technical setbacks during FY16, Troy Resources’ new Karouni Mine in Guyana in South America remains a highly profitable operation with C1 cash costs reported at just US$515 per ounce. All in sustaining costs came in at just US$816 an ounce and the company is predicting that could drop to as low as US$750 an ounce in FY17. 

Stargroup has appointed Evan McGregor to its board as the company reported a record July with ATM transactions lifting by 12 % and annualised gross revenues on track to reach nearly $7m on an annualized basis. McGregor has previously served with listed companies such as Asia Infrastructure, Entertainment World, Zeolite Australia, Media Entertainment Group and London Securities. 

Getting along with your neighbours is always good policy, especially in the mining game when you have common tenements sitting on the same ore body. Pilbara Minerals and Altura Mining have led the way at Pilgangoora in the north west of W.A with a new agreement to share infrastructure and support each others tenure. 

Troy Resources have overcome early mill problems at their new Karouni gold mine in Guyana, South America and made a series of improvements to boost production rates. The Perth-based gold miner also reported a swag of encouraging drilling, suggesting there is still plenty of upside in the Karouni resource.

MGC Pharmaceuticals has taken the next step towards launching its potentially breakthrough range of cannabis based skincare products next year after Recent microbiology testing in Slovenia showed “no adverse reactions” to MGC cannabis products that treat psoriasis, acne and seborrhoea ailments. The company says it is on track for a full skin care line roll out in 2017. 

Pilbara Minerals have more than doubled their ore reserves at Pilgangoora in WA, paving the way for the world’s biggest lithium project to get even bigger. A 136% increase in reserves has more than doubled the life of the planned mine to 35 years and prompted studies to double output after mining begins in late 2017.

Sipa Resources have more than doubled the anticipated cap on their share purchase plan to $4.2 million after a flood of applications from bullish shareholders. The rush coincides with the start of a maiden drilling program at the Paterson North project, which is on strike from the ground generating so much good news for Antipa and its JV partner Rio Tinto.

Well-known Perth broker Euroz is predicting a 50% increase in the lithium resource at Neometals’ Mt Marion project near Coolgardie. The prediction, which is based on recent spectacular drill results at the project, would take the Mt Marion resource from 60m tonnes to 90m tonnes, placing it right up there with some of the largest hard rock deposits in the world. 

There seems to be no end in sight to the run on Blackham Resources’ share price that started in September last year at 15c and touched $1.15 today on the back of more, classic Blackham, super high grade drill hits at the Matilda Gold project – the project that just keeps on giving.  Results out today include 6.0m @ 26.4 g/t gold, including 1.8 metres at a whopping 83.3 g/t, and 15.6 metres at 7.51 g/t.

Blackham Resources shares have surged again with news that the first gold pour at the 100,000+ ounce-a-year Matilda gold project in Wiluna W.A is just weeks away. The first gold bar at Matilda will mark the first major milestone in Blackham’s remarkable revival of the largely mothballed project in Wiluna. Shares in Blackham surged 4.5c to $1.02 on the news. 

Legend Mining have wasted no time getting back into the field for a series of moving loop electromagnetic survey’s at their Rockford project in the Fraser Range, home to the giant Nova-Bollinger nickel deposit. They recently completed a round of exploratory drilling at Rockford which the company says has greatly assisted it to better understand the geology at the Fraser Range.

Cashed up Neometals is returning $11.3 million to shareholders even before production begins at Mt Marion in the December quarter. The savvy junior held $74 million in cash at 30 June and is distributing to shareholders some of the rewards of its great deal making. This is the second time in a year that Neometals have announced a dividend before production has even started. 

Medical cannabis company MGC Pharmaceuticals has agreed to sell two African-based exploration permits and related data for $500,000 in cash. The legacy mining assets no longer form part of the company's core business focus as it finalises the transition away from mineral exploration as Erin Resources and into a leading edge medical marijuana company. 

New drill results suggest that Neometal’s world-class Mt Marion Lithium Project near Coolgardie is set for even further growth in its total resource and that's in addition to the recently announced 160% increase. Neometals, who today announced the conclusion of their 147 hole drilling program at Mt Marion currently hold a 13.8% free carried stake in the project.

ATM business Stargroup looks set to give its balance sheet a boost by again revaluing its stake in South Korean ATM manufacturer NeoICP after the ATM manufacturer and Stargroup supplier posted a bumper result for the 2016 financial year. Stargroup holds an 11.28% strategic stake in private Korean company NeoICP and will shortly receive a $60 000 dividend cheque.

ASX listed biotech company PharmAust today announced that a leading veterinary specialist would conduct more canine trials with its promising anti-cancer drug "MP"L. NSW-based dog cancer specialist, Dr Angela Frimberger, will evaluate MPL either as a monotherapy or in conjunction with chemotherapy in dogs that have not responded to standard cancer treatments.

Financial payments upstart Stargroup, today reported record monthly ATM transactions from its Australia wide ATM machine network for July and predicted its 11thconsecutive quarter of revenue growth. Revenues from the ATM business in July were well in excess of $500,000, more than the company’s entire revenue for FY15 with an annualized rate of $6.7 million.

The highly anticipated drill testing of Hammer Metals' promising Overlander prospect near Mt Isa in Queensland will kick off next month with drill hole positions now determined. Hammer metals, with giant JV partner Newmont, will target a repetition of the famed 220m tonne Ernest Henry iron oxide copper-gold deposit east of Mt Isa. 

Legend Mining today partly realized a profit of $3.46m after selling Independence Gold shares it bought on market back in 2012. The sale provided a healthy kick for the Fraser Range explorer’s share price and a boost to its cash reserves to $8.5 million. In total, Legend has received $5,332,162 worth of cash and script for its $1.87m investment in the then Sirius Resources.

ASX listed cancer drug hopeful Pharmaust have secured additional IP rights to their highly promising anti-cancer drug Monepantel by partially trading off rights to another project under their control. Under the new deal, Pharmaust will receive the remainder of the IP rights to Monepantel that were never transferred to them by the University of NSW.

Analytica have patented their unique medical device in one of the worlds most populous markets. The People’s Republic of China recently granted Analytica’s patent application for the company’s “Peri-Coach" pelvic floor force sensing device. The Peri-Coach can eliminate urinary incontinence, a condition afflicting nearly 230m Chinese women according to the company. 

Well known mining focused private equity firm Resource Capital Funds has taken a plunge at ASX junior Hammer Metals with its latest $2b mining fund. RCF has taken a $1.75m placement in Hammer Metals at 7c a share representing the lion’s share of the company’s latest $2.25m capital raise. The funds will be spent on Hammer's100% owned Mt Isa copper gold project. 

Medical device company Analytica has attracted further interest from Virgin Islands based investment fund INOV8 who will stump up $500k at .007c a share to take their second placement in the company. INOV8 have tripled their $500k plunge at Analytica back in March when they successfully picked the bottom of the company’s share price graph at just .00255c a share.

In a sign that ASX listed Shark Mitigation Systems are getting serious about taking their unique shark deterring wetsuits to market, surf wear industry specialist Simon O’Sullivan has been appointed as General Manager of the company. O’Sullivan was most recently the Australian Chief Operating Officer of well known surf brand Rusty with responsibility for the Australian operations.  

With the gold price at record highs, Blackham Resources appear to have timed their transition from explorer to miner exquisitely. After a couple of years of excellent exploration success, the Bryan Dixon led Matilda Gold Project in Wiluna W.A is once again a mining operation. It is expected to churn out $300m in free cash over the next ten years and thats just the warm up period. 

Analytica have achieved patent protection in the world’s biggest medical device market for their unique “AutoStart Burette” medical device after receiving advice from the US Patent and Trademarks office that their patent had been granted and will be operable until the 17th January 2031. A "burette" is the little chamber that is inserted into a medical drip to administer medicine.