Public Company News

St George Mining has inked a nine-month non-exclusive memorandum of understanding with one of the world’s leading steelmakers, the China-based Liaoning Fangda Group, which may lead to a deal to supply at least 20 per cent of future niobium production from its Araxá REE project in Brazil in exchange for funding support.

ABx Group’s 83 per cent owned subsidiary ALCORE is set to produce aluminium fluoride at the company’s pilot plant, which will be established at a facility adjacent to Rio Tinto Aluminium’s Bell Bay smelter in northern Tasmania. ALCORE plans to prove its world-first process to produce hydrogen fluoride from smelter waste, which will then be converted into aluminium fluoride, essential for the aluminium smelter industry.

GreenTech Metals has rebooted its 4000m stage two diamond coring drilling program at its Whundo massive sulphide-hosted copper-zinc project in WA’s West Pilbara, chasing downhole conductors at four target areas. A stage one 1710m reverse circulation drilling program, done and dusted last July, produced encouraging results supported by follow-up geophysics, prompting the current stage two campaign.

Horizon Minerals has poured its first gold bars from ore hauled from its Boorara project, near the famous mining town of Kalgoorlie in WA, under its ore sale agreement revealed last year with Norton Gold Fields’ Paddington mill. Proceeds from the sale are expected to be pumped into the company’s bank account within the week.

Legend Mining has reached for some innovative exploration techniques at its Rockford nickel-copper project in WA’s Fraser Range, earning it a windfall $1.77 million research and development cash refund from the taxman. Legend’s high-power fixed loop electromagnetic equipment has pushed the boundaries of traditional electromagnetics by identifying targets at depths below 600m.

Horizon Minerals has pumped $6.345 million into its bank account via an at-market share placement of 4.5c per share with a further $3.28 million expected shortly, all earmarked for the development of its soon-to-be producing gold deposits. Privately-owned Golden Crane Holdings will stump up the entire $9.625 million via a two-tranche placement in exchange for approximately 213 million shares in Horizon.

This week’s Bulls N’ Bears Runner of the Week is … Sparc Technologies. The company is developing new-age hydrogen technology using sunlight to split water without the use of an electrolyser. Argent Biopharma raised funds at a significant premium to its last closing price while Australian Mines boosted its scandium resource and Dimerix revealed a tie-in with a Japanese pharmaceutical firm to treat kidney disease.

Aurum Resources has tightened its grip on fellow West African gold explorer Mako Gold, boasting an 86.77 per cent ownership stake and setting the stage for the final act. Having already declared its off-market takeover bid as unconditional, Aurum has now upped the stakes by branding its bid “Best and Final,” signalling a determination to close the deal.

St George Mining has joined forces with two of Brazil’s leading government scientific agencies to develop an optimal downstream process for the company’s niobium and rare earth mineralisation at its Araxá project. The company recently secured $20 million in funding to acquire 100 per cent of the project located within the renowned mining region of Minas Gerais in south-east Brazil.

Reach Resources has kick-started a highly anticipated reverse circulation drilling program at its Murchison South gold project marking the first time its new geological model will be tested at the site near Paynes Find in Western Australia. The program is focused on reevaluating previous structural controls and targeting high-grade zones identified to be connected to the newly interpreted Primose fault structure.

Thunderbird Resources has scooped the services of industry veteran George Ventouras as executive chairman in a shift the company says is a strategic move to accelerate an ambitious exploration agenda at its Rockvale and Kookabookra antimony-gold projects in New South Wales. Ventouras has stepped into his new role following the resignation of former executive chairman, George Bauk.

The share price of Meeka Metals soared to a record high of 10.2 cents today after unveiling a set of stunning gold hits from its drilling at St Anne’s, part of the company’s flagship Murchison gold project in Western Australia. The results included a jaw-dropping 10m section grading 52.79 grams per tonne (g/t) gold within a broader 23m intercept running at 26.73g/t.