Public Company News

ASX newcomer, West Cobar Metals made a solid debut on the market last week after pocketing $5.5m in a strongly backed initial public offering ahead of the listing. The Perth-based explorer’s $0.20-a-share IPO hit the boards at the ASX in style on Friday with the stock reaching $0.25 in intraday trading. The company now plans to unleash the rig on its compelling copper and gold targets in NSW.

Hot Chili continues to unravel the geological secrets at its 100 per cent owned Cortadera copper-gold deposit in Chile after it tabled a bumper 610m intercept at 0.5 per cent copper-equivalent which includes a high-grade 138m core going 0.8 per cent copper-equivalent. The latest results extend the northern flank of the Cortadera mineralised system by a massive 170m.

Mineral exploration company, Kairos Minerals has put its foot on 479 square kilometres of tenure in the celebrated Pilbara region of WA to swell its landholding in the district to a whopping 2,026 square kilometres. The company says the new exploration licence applications are prospective for lithium pegmatite discoveries and intrusion-related gold mineralisation similar to De Grey’s world-class Hemi discovery in the region.

ASX-listed biotechnology company Cynata Therapeutics has sealed a partnership agreement with Fujifilm as it makes a big step towards a commercial manufacturing deal for its proprietary Cymerus stem cell therapy products and eyes an accelerated push into the all-important United States drug market. The company is planning a stage two trial of the therapy to treat bone marrow recipients.

ASX listed Kula Gold has its foot on another couple of exploration licences that are contiguous with the central part of its broader WA Brunswick tenement and the company has already collected several high-grade rock chips from the newly acquired ground that contains the historic Donnybrook gold mine. Interestingly, the high grades correlate well with historic drill assays in the area which graded up to 9.92 grams per tonnes gold.

Aurora Labs has wrapped up a trial project that tested the company’s 3D metal printing technology’s ability to “print” stainless steel components for the construction of Australian Navy frigates. Aurora says the trial, under a collaboration with Australian defence contractor, BAE Systems Maritime Australia, has returned positive outcomes in terms of part quality, dimensional accuracy and build rate.

West Cobar Metals is set to pocket $5.5 million when it hits the boards at the ASX today and the rods are already primed to start turning at its exciting Bulla Park and Mt Jack copper-gold projects in and around the prolific Cobar basin of NSW. Initially the company is looking to drill test two enticing looking targets that were unexpectedly abandoned in historical drilling.

Galan Lithium has added further lithium brine potential to its Hombre Muerto West project in South America’s prolific ‘Lithium Triangle’ with a newly drilled bore hole revealing previously unrecognised brine bearing aquifers. The company says the discovery could provide a boost to future resource estimates for the project that already boasts 2.3 million tonnes of lithium carbonate equivalent.

ASX-listed junior gold explorer Superior Resources has intersected some superb gold horizons at its wholly owned Steam Engine prospect in Northern Queensland with grades up to a dazzling 38.8 grams per tonne gold. The company says the results confirm a down-dip thickening and extension to the lode as well as the presence of additional shallow, high grade zones.

Barton Gold is eyeing the possibility of significant new discoveries, having identified a collection of shallow targets with its government co-funded ground penetrating radar survey over the Tarcoola Gold Project on the Gawler Craton in South Australia. The work is part of a systematic geophysical and drilling program with more refined target selection and follow-up drilling expected in coming months.

ASX-listed Hot Chili’s pre-feasibility study into its 100 per cent owned Costa Fuego copper-gold development in Chile is gaining momentum. A materials-handling scoping study has revealed significant time and cost savings when implementing a “rope conveyor” to transport ore downhill from Cortadera to Productora. A similar haulage system has been successfully employed at Teck and Newmont Goldcorp’s NuevaUnión project, 100km east-northeast of Costa Fuego.

ASX-listed junior explorer Great Southern Mining has defined several large kilometre scale gold anomalies within its Duketon tenements in WA from regional soil sampling and will be drill testing at the Amy Clarke prospect by the end of the year. A geophysical magnetic low channel associated with the gold anomalies can be traced 3km north to Regis Resources’ 322,000-ounce Erlistoun deposit grading 1.9 grams per tonne gold.