Bulls N' Bears (Commercial Content)

Tyranna Resources has picked up a couple of interesting nickel tenements in WA in addition to a NSW nickel-cobalt laterite play. The company will acquire unlisted, Clean Power Resources', prime nickel ground across two states. The WA projects are located in good nickel country with a total prospective strike length of over 30km across structures that link directly to St George Mining’s successful nickel play at Mt Alexander.

St George Mining has discovered seven new downhole electromagnetic conductors believed to be reflective of an extensive, high-grade sulphide mineralised system at depth. More massive sulphide mineralisation has also been observed during ongoing diamond drilling at Investigators East with assays pending. The new conductors and sulphide mineralisation are located at the company’s Mt Alexander Project west of Leonora in WA.

Horizon Minerals has kicked off a major grade control drilling program at its Boorara project that neighbours Kalgoorlie's Super Pit. A 2016 trial pit delivered a reconciled mill gold grade of 1.73g/t against an initial resource modelled grade of 1g/t. This demonstrates the importance of the appropriately named ‘grade control drilling’ program ahead of mining to optimise the mining operation and potentially boost the head grade.

The board of Azumah Resources’ has successfully held out for more money as Ibaera Capital’s increased takeover offer of 3.3 cents a share finally gets the nod from Directors. The new offer represents a 136% premium to the company’s closing price before the original offer was made in September and an 18% premium to the 2.8c per share offer made by Ibaera at that time.

Norwest Energy has upgraded the prospective gas resources at its Lockyer Deep and North Erregulla Deep prospects to 1,122 billion cubic feet, just 10km north of Strike Energy’s exceptional West Erregulla-2 gas discovery in the Perth Basin. The company holds a 20% stake in the associated gas permit with operator Energy Resources and the JV partners will shortly decide on the location of a well at the project.

Great Southern Mining is set to launch its maiden drill program at the historical Cox’s Find gold project near Laverton in WA. The historical mine produced some 76,000 ounces of gold at an absurdly high 22.6 grams per tonne for WMC, close to 80 years ago. The program forms the first substantial exploration in 25 years and the first drilling below 60m depth.

Cloud-based telecommunications pacesetter, Vonex, this week banked $630,000 in rebates from the Australian Government’s Research and Development Tax Incentive Program for eligible R&D activities conducted during the 2018-19 financial year. The company’s retail business is expanding rapidly, with 34,000 users registered for its core, cloud-based, PABX telephony business as the company muscles its way in amongst the majors, courtesy of the market disruption caused by the NBN.

Strike Energy has produced some outstanding initial flow test results from the Kingia Formation within its exciting West Erregulla-2 gas discovery well in the Perth Basin of WA. The numbers are consistent with other high rate gas wells in the region. Strike recently provided an update and strategy to begin unlocking value from the surrounding gas field, with a schedule developed to begin producing gas by early 2022 and fast-track cash flows.

Kingwest Resources is rapidly making its newly acquired Menzies gold project its own with ounce plus hits rolling off the drill bit. Thirty six grams per tonne gold over a metre intersection is a good start to what is shaping up to be an action-packed drill program across this exciting project that is littered with historic workings and old shafts.

Adriatic Metals’ maiden high-grade resource of 9.4 million tonnes grading 5.1% zinc, 3.3% lead, 1.8g/t gold and 183g/t silver at the Rupice deposit and positive metallurgical test work results will flow into the company’s Vareš project scoping study, due to be tabled by 2020. The company has entered into a partnership with base metals miner, Sandfire Resources, who owns 12.8% of its stock and is entitled to representation on the board.

Middle Island Resources has completed a re-optimisation mining study at its Sandstone gold project in WA and with elevated gold prices and new pit wall parameters improving on the 2016 PFS results, the updated work now captures 75% of the global mineral resources in proposed pits. The company is also looking to recommission the Sandstone plant on a standalone basis after studies confirmed it could be refurbished over 16 weeks for only $10.3m.

Infinity Lithium has applied for EU funding from the European Battery Alliance’s private investment company, InnoEnergy, to support the development of a pilot plant for the production of lithium hydroxide that will then be tested and validated by lithium end-users in Europe. The funds would be utilised by Infinity and its partners to advance a pilot plant at Infinity’s San José Spanish lithium project.

St George Mining has raised $5.7m to underpin its comprehensive exploration programs at the emerging Mt Alexander nickel-copper-PGM project located near Leonora in WA. The company has unearthed more than 30 regional EM conductors for drill testing and several new high-priority targets from down-hole EM surveying in the Cathedrals Belt and many of these will feel the drill bit in 2020, with the new funding now confirmed.

Lithium Australia’s ongoing review and consolidation of its business into four operational divisions; raw materials, lithium chemicals, batteries and recycling is progressing well. The company is looking to create a separate and distinctive identity for each division with one eye on potentially listing each of them in the future or at the very least, attracting investment directly into each entity.

ASX-listed Volt Resources is in the final stages of securing approval from the Stock Exchange of Mauritius for a USD$40m note issue that will underpin the stage 1 development of its Bunyu graphite project in Tanzania. The note will support the Stage 1 development of the project that has an ore reserve of 127 million tonnes grading 4.4% TGC, most of which is in the Super Jumbo and Jumbo flake categories.

Spectrum Metals has announced a stunning maiden resource of 569,000 tonnes grading a whopping 16.8g/t gold for 306,800 ounces at its Penny North discovery near the Youanmi mineral province in WA. This brings the entire Penny West project resource to 799,000 tonnes grading 13.8g/t gold for 355,500 ounces. Importantly, the ore body is still well and truly open and will most likely continue to impress.

Gold explorer, Ardiden, will kick off a program of winter drilling at its emerging Kasagiminnis deposit in Ontario, Canada, where it has defined a resource of 110,000 ounces grading at a very respectable 4.4g/t gold. The company has also planned surveys and the drilling of its South Limb prospect, airborne geophysical surveys at the West Pickle prospect and it is reviewing historical data and resource estimates for the Dorothy-Dobie prospect.

Canning Basin focussed hydrocarbon explorer and producer, Buru Energy, has commenced wireline logging operations at its latest exploration well known as Miani 1. The new well is to the northwest of the company’s Blina oilfield near Derby in WA. Buru recently reported some $3m in revenue from its Ungani oilfield, with two further production wells looming at Ungani 6H and 7H, expected to come on-line during December.

Venus Metals has completed a high-powered, electromagnetic geophysical survey at its Vidure copper-nickel prospect that has thrown up at least four shiny new massive sulphide targets. The Vidure copper-nickel prospect is located near the Youanmi region of WA with Venus set to drill test its new targets in the area shortly. Two of the new targets have conductivities that are directly comparable to the existing Vidure discovery EM results.

Strike Energy has started flow testing at its exciting West Erregulla-2 gas discovery well in the Perth Basin where it has identified three separate gas discoveries and possibly the deepest occurrence of hydrocarbons onshore anywhere in Australia. The company has also given an update and provided a strategy to begin unlocking value from the surrounding gas field, with a schedule now developed to produce gas by early 2022 and fast-track cash flows.

Kairos Minerals has secured commitments for approximately $1.35M from sophisticated investors and will look to raise another $650K in a share placement plan to underpin exploration activities at its flagship Pilbara Gold project in WA. The funds will be used to drill out some high-grade gold targets across the project and undertake resource and mining studies. Drilling is planned to commence in November.

Calidus Resources has continued its hit list of impressive drilling results whilst strengthening the open-pit credentials of its rapidly developing Warrawoona gold project in WA’s East Pilbara region. The company is also continuing to de-risk the million ounce-plus ore resource, with recent results including an impressive 35m drill hit grading 2.84g/t gold from surface and 23m grading 2.55g/t from 15m downhole.

Aspiring rare earths metals producer, Greenland Minerals, is nearing completion of a major milestone in its ongoing technical development of the giant Kvanefjeld rare earths project in southern Greenland. The culmination of work on the company’s environmental impact assessment is looming with Greenland’s Environmental Agency for Mineral Resource Activities providing a pathway for the Perth company to finalise the approval.

PolarX has hit it in one with a very long diamond hole drilled into an identified IP anomaly producing 400m of visible sulphides within porphyry-style mineralised vein sets and associated alteration at the Mars porphyry copper-gold target in central Alaska, USA. Previous surface sampling at Mars recorded anomalous gold, copper and molybdenum and the company is now eagerly awaiting assays to confirm the tenor of the mineralisation.

ASX-listed, Delecta Ltd has picked up a couple of exciting new multi-minerals plays in the USA. The company will acquire 100% of American Vanadium’s Copper Ridge project in Utah and three uranium-vanadium projects, also in Utah and in Colorado. The Flagship Copper Ridge project has immediate walk-up targets with enticing historical results such as an impressive 17.01% copper rock chip sample.

Tyranna Resources has entered into a term sheet to divest its remaining South Australian gold assets, in a $1m sale of the 319,000-ounce Jumbuck gold project to Syngas. The company will now concentrate on its advanced Eureka gold project near Kalgoorlie in WA, which has a higher grade than the SA assets, is located on granted mining leases with excellent supporting infrastructure, including options for toll treating of ores nearby.

St George Mining has revealed that further massive sulphide mineralisation has been observed during diamond drilling at its Investigators East prospect, located within the company’s Mt Alexander project, near Leonora in WA. The company intersected an 18m-wide ultramafic unit that contained 7m of visible nickel-copper sulphides from 91.9m down-hole with XRF readings of 6.5% nickel and 2.3% copper over a 0.91m section.

Sophisticated investors have agreed to sink $40m into ASX-listed Geopacific Resources to help develop its Woodlark Gold Project in PNG. Ordinary shareholders will also get the chance to stock up at the same price to the tune of a further $5m with a $30k limit per subscriber. The 1-million-ounce reserve Woodlark gold project looks like generating a pre-tax net cash flow of at least $754m before upside.

Spectrum Metals has intersected further high-grade visible gold mineralisation from deep drilling at its Penny North discovery near Youanmi in WA. The company will now move the rig to complete exploratory drilling at the Magenta prospect, about 1.5km to the north. Spectrum is also compiling a maiden resource for Penny North, undertaking site-based environmental studies and preparing geophysical surveys to help rank existing gold targets.

Venus Metals has commenced a high-powered, EM geophysical survey at its Vidure copper-nickel prospect, located near the ever-popular Youanmi region in WA, where historical drilling by WMC and BHP outlined anomalous base metal and silver mineralisation. The survey will penetrate up to 500m, where the company previously interpreted poorly constrained, down-dip and down-plunge extensions to the defined mineralisation.

Neometals is one step closer to a commercial-scale lithium battery recycling plant after it executed a binding memorandum of understanding agreement with mammoth German engineering firm, SMS Group. The companies will work jointly to assess the next phase of development test work on Neometals’ proprietary battery recycling technology. The new partners are proposing to form a 50/50 JV, following due diligence with a view to constructing a demonstration plant.

Azumah Resources’ Directors have advised their shareholders to take absolutely no action in relation to an unsolicited takeover bid saying that suitor, Ibaera Capital, has paid a lot more for Azumah stock in the past. The company said that shareholders who accept Ibaera’s offer may miss out on any revaluation of its Wa gold project in Ghana after a feasibility study has been completed early next year.