Public Company News

Xanadu Mines has signed a non-binding gas offtake memorandum of understanding with Jade Gas Holdings for commercial gas sales to power the copper explorer’s Kharmagtai project in Mongolia. The deal is designed to secure a reliable, low cost and cleaner energy source for Xanadu’s Kharmagtai copper-gold project using gas from Jade’s TTCBM project only 80km away.

There will be no tools down at Classic Minerals this Christmas as the WA gold explorer races finish its Kat Gap processing plant south of Southern Cross with work on the 70,000-tonne tailings facil

CZR Resources has struck a native title deal with the Robe River Kuruma people which will see the company place a high priority on protecting country as it presses ahead with plans to join the rank

Valor Resources has scooped up a suite of high-grade uranium rock chips that have extended the surface mineralisation of a key drill target to a strike length of around 500m at its Surprise Creek project in Canada. The program yielded six samples grading over 1 per cent uranium oxide with anomalous copper and was headlined by a specimen running 7.98 per cent.

Ora Banda Mining has secured funding support from shareholder Hawkes Point Holdings to continue developing its Riverina underground operation including exploration, resource development and capital expenditure. Hawkes Point is the gold producer’s largest shareholder and will provide Ora Banda with an unsecured loan of $11 million towards work at the project near Kalgoorlie.

St George Mining has welcomed Chinese lithium-ion battery maker Sunwoda Electronic onto its share registry via a $2m placement as it eagerly awaits results from a maiden drill campaign where visibl

Xanadu Mines is one step closer to finalising its phase two and three investment agreement for its Mongolian projects with Zijin Mining Group after the formal documentation for the deal was executed. Once approvals have been met, Xanadu will use Zijin’s investment to continue exploration of its prospective Red Mountain project in addition to making a final investment decision on taking its Kharmagtai project to the construction phase.

Infinity Lithium has extended a Memorandum of Understanding with battery manufacturer LG Energy Solutions for the supply of lithium hydroxide from its planned San Jose project in Spain. The expansion follows a 2021 deal that permits LG the first rights to 10,000 tonnes of product per year and grants the parties additional time to hammer out a long-term offtake agreement. The deal will mature on 2 December 2023.

CZR Resources has expanded its Robe Mesa project in the Pilbara after agreeing to acquire a nearby tenement from Fortescue Metals Group subsidiary FMG Pilbara to the south of Rio Tinto’s Mesa F iron ore project. Subject to the completion of the sale, the company will make a cash payment of $150,000 to Fortescue in addition to 3.3 million CZR shares and a 1 per cent free-on-board revenue royalty covering any future production from the site.

Brightstar Resources’ confidence in the potential of its flagship Cork Tree Well project near Laverton continues to grow with gold assays from an extensional RC drill hole providing the latest boost. Results include 6m at 3.17 grams per tonne gold from 182 metres and the additional strike length opened up by the drill hole has persuaded the company to redouble its efforts next year.

Gold strikes in oxidised shale at Aruma Resources’ Melrose project in the Pilbara similar to those found in nearby mines have spurred the company on to keep sniffing around the iron ore-rich region

The maiden RC drilling campaign at Lithium Australia and Charger Metals’ Lake Johnson joint venture project in the Goldfields-Esperance region has enjoyed immediate success with the drill bit. The company says the campaign intersected numerous spodumene-bearing stacked pegmatites between 1 and 5 metres wide within a broad 50m zone that remains open at each end and depth. Field observations include spodumene in 15 of the 17 holes completed.