Public Company News

Aurum Resources has spectacularly ticked another box in a recent string of gold hits at its Boundiali project in Cote d'Ivoire, with an 83m best run assaying 4.87g/t gold from 106m at the company’s BD Target 1. Two runs in Aurum’s primary 83m intercept jagged 6.29m at 34.94g/t gold and 8m at 14.81 g/t gold.

Strickland Metals has delivered a major 670,000-ounce gold equivalent resource upgrade at its Rogozna project in Serbia, pushing the total to 7.4 million ounces - up 2m ounces in just nine months. The flagship Shanac deposit now hosts 5.3m ounces at 1.1g/t, including a high-grade core of 1.85m ounces at 1.8g/t, all discovered at just $3 per ounce.

Chariot Corporation has secured convertible note deal, roping in up to $2 million to fuel its lithium hunt across the United States and Australia. The company has locked in an initial $600,000 drawdown from New York-based investor Obsidian Global, with the potential to tap an additional $1.4m over the next 12 months.

BMG Resources will accelerate its exploration efforts at the company’s Bullabulling and Invincible gold projects in WA, motivated by high gold prices and recent nearby acquisitions by two big-name mining investors. Both projects contain favourable gold mineralisation in big structures, which they share with other significant projects being advanced by Mark Creasy and Tim Goyder.

Titanium Sands Ltd has cleared another big hurdle in its quest to bring its vast Mannar Island heavy mineral sands project in Sri Lanka into production after the country’s environmental authority issued terms for the company’s pivotal environmental impact assessment. The milestone sets the stage for the final environmental studies required for Titanium Sands to secure an industrial mining licence to bring its high-grade deposit into production.

Terrain Minerals has hauled up some remarkable rare earths samples from its Lort River project near Esperance in Western Australia’s Fraser Range region, after multi-element assay tests picked up head-turning grades of up to 9840 parts per million (ppm) total rare earth oxides (TREO). The uber-high-grade 1-metre section was discovered within a broader zone of 8m grading 4037ppm TREO starting at only 23m depth.

Empire Energy is closing in on becoming the first gas producer in NT’s massive Beetaloo Basin from its Carpentaria project, in what is shaping up to be a high-stakes moment for Australia’s energy future. Hydraulic stimulation of its 3.3km horizontal C-5H well is expected to kick off in May. A successful production flow is likely to open the flood gates for many more players to enter the fray.

Greentech Metals has entered into binding agreements for two of its non-core exploration licences and a single prospecting licence, which will allow the company to focus on its nearby Whundo copper project. The adjoining tenements include one prospecting licence that is yet to be granted and enclose a total 930ha. The deal allows buyer Errawarra Resources to consolidate prospective ground around its 363ha Elizabeth Hill silver mine lease.

Altech Batteries has locked in the backing of a major shareholder, German-based investment firm Deutsche Balaton AG, by securing funding via a bond note facility for up to €2.5 million (A$4.3m) to further develop its new-age battery projects. The company has land in Johor, Malaysia, for sale and expects the proceeds will be sufficient to repay any borrowed funds.

Latitude 66’s share price jumped 20 per cent to 7.8 cents after the company released a scoping study on its KSB gold-cobalt project in Finland. The study revealed a high-grade, low-cost operation with a post-tax NPV of US$310m at US$2500 an ounce gold. The project has an all-in cost of just US$996 with cobalt credits and will pay for itself in 16 months.

Kalgoorlie Gold Mining has completed a maiden reverse circulation drilling program to test its recent Lighthorse gold discovery at the company’s Pinjin project, 140km northeast of Kalgoorlie. KalGold drilled 16 holes along three 100m-spaced lines for 2446m to a maximum downhole depth of 222m. The laboratory assays are now being fast-tracked.

Canadian-listed Rio2 Limited has secured a US$25m prepayment from a US-based precious metals investment firm, Wheaton Precious Metals International, under a precious metals purchase agreement with Rio2’s Fenix Gold project in Chile’s Maricunga belt. Rio2 views the funding as a strong endorsement of its development strategy and a key milestone in its push to bring the mine into production by year’s end.