News Articles for Spectrum Metals

Spectrum Metals has acquired the historic Penny West gold mine, located 30km south of the mothballed Youanmi operation in WA. The open pit mine was last worked in 1992 and produced over 85,000 ounces at a staggering grade of 21.8g/t gold. The deposit has a remaining resource of 230,000 tonnes grading 4.8g/t gold for 36,000 ounces, with significant exploration and development potential on two granted mining leases.

Dreamscape Networks is pleased to announce that it has entered into a Binding Heads of Agreement to acquire 100% of Hong Kong based hosting and domain business PacHosting from privately held Pacifi

Spectrum Metals has paid $200,000 to buy the historical First Hit gold mine, located 50km west of Menzies in the Goldfields region of WA. The mine was last worked in 2002 and the company has defined numerous walk-up drill targets for delineating more high grade mineralisation. Spectrum will raise $600,000 to underwrite exploration of its WA gold assets, by issuing shares to sophisticated investors at 0.4c per share.

Spectrum Rare Earths has reported success from its first underground diamond drill hole at the Washington gold project in northern California. Visible gold with base metal sulphides were identified from drill core intersecting the prized Dean vein, with assays pending. The short drilling campaign is part of a wider due diligence process at the decommissioned mine, where the company has secured a 3-month exclusive option.

Spectrum Rare Earths has reported a slew of eye-popping, high grade gold results from historical drilling at its Washington gold project in northern California. Mineralisation occurs within a swag of criss-crossing quartz veins, usually over widths of about 2 metres at the mine. The company also identified 3 priority target areas for further drilling during its technical due diligence for the decommissioned gold operation.

Pip Darvall has been appointed managing director of Jindalee Resources, replacing Lindsay Dudfield who will remain on the board as executive director.

After a period of relatively low activity, ASX listed junior, Spectrum Rare Earths looks like it has stumbled across a potential company maker in Northern California. The Perth based company has locked down an option to purchase a mothballed, fully permitted gold mine that has historically produced around 250,000 ounces of gold at an amazing average grade of around an ounce to the tonne.

Peel Mining spin-out Saturn Metals began trading on the ASX today after the gold explorer raised $7 million through an initial public offering.

Zhao Tong has been appointed non-executive director of Altura Mining.Tempo Australia has announced the retirement of non-executive director Philip Loots.

Perth entrepreneur Mark Lapins is aiming to defy waning investor interest in tech startups, announcing plans for a backdoor listing that values his ‘internet of things' firm, Quantify Technology, at $22 million.

Social media platform and app developer Thred has enjoyed a steady first day on the ASX, while two other Perth-based companies have made progress on their respective reverse takeovers.

Two new technology companies listed on the ASX today, led by LiveHire, which is backed by Perth business figures Adam Zorzi, Michael Haywood and Antonluigi Gozzi.

Two Perth-based resources companies are planning to switch sectors with the acquisition of cancer-based biotechnology firms, with one planning a backdoor listing and the other seeking support for an IPO.