Public Company News

ASX-listed Infinity Lithium Corporation has signed a consultancy agreement with Spanish mining outfit Promotora de Minas de Carbon as the Australian company looks to shore up its San Jose lithium project in Spain’s Extremadura region. Forty-five-year-old Promotora de Minas de Carbon has agreed to provide mining advisory services to Infinity for an all-options success fee comprising two tranches of 20 million options each.

Coda Minerals has pocketed $14.4 million from an oversubscribed capital raising, with the company now boasting more than $21 million in cash reserves to fund ongoing exploration in South Australia. Whilst the company has wowed the market in recent weeks with its Emmie Bluff IOCG discovery, Coda continues to build a substantial inventory of copper resources at its Elizabeth Creek project.

ASX-listed 88 Energy is cutting more than US$1 million of annual finance costs and adding US$2.6 million to its treasury with the US$18.7 million sale of oil and gas tax credits in Alaska. The balance-sheet reset strengthens the company’s position as it strives to expand oil and gas resources at its 100 per cent-owned Peregrine project in the US state.

Wiluna Mining’s development program over its namesake WA operation continues to come up trumps with reserve drilling across the Happy Jack deposit returning 1.78 metres grading a stunning 66.74 grams per tonne. Meanwhile drilling at East Lode has turned up intercepts of 13.12m at 6.89 g/t and 6.85m at 7.72 g/t gold, underlining the lucrative nature of the deeper sulphide mineralisation.

ASX-listed 3D metal printing company Aurora Labs has hit the ground running after moving operations to its new Canning Vale facility in Perth. The company’s Beta prototype printer has produced its first coupons since the relocation, marking the relaunch of Aurora’s 12-month “Technology Development Pathway” strategy with an end goal of commercialising its 3D printing technology.

Coda Minerals has stepped up exploration at its Emmie Bluff IOCG discovery in South Australia, with drilling now underway to further test the mineral-rich body, located 450 kilometres north-west of Adelaide. The company has now kicked off drilling of a series of daughter holes that splay off the original diamond drill hole to test the mineralisation at various levels within the stratigraphy.

ASX-listed Blackstone Minerals has launched a “green” hydrogen study as it continues to look at ways of developing a zero-carbon mining and downstream processing operation at its flagship Ta Khoa nickel-copper-PGE project in Vietnam. In relation to the proposed downstream processing plant, the company intends assessing oxygen production via the electrolysis of water that it says generates green hydrogen as a by-product.

ASX-listed mining technology company K2fly has turned in its first $1 million invoicing month and maiden $2 million quarter as industry demand for vital environmental, social and governance decision-making information continues to climb. A new sales deal with a US-based geospatial data specialist is expected to add to the Australian company’s prospects in a key growth market.

Hot Chili has launched feasibility over the company’s immense Costa Fuego copper-gold project in northern Chile, appointing expert engineers Wood to oversee a PFS over the greater Costa Fuego project area. The study will use the 2016 Productora pre-feasibility study to expedite a larger PFS over the project, which hosts more than 724 million tonnes in copper and gold resources.

ASX-listed explorer Oar Resources has landed an exploration licence at its Crown PGE-nickel-copper prospect just 9km west of Chalice Mining’s celebrated Julimar discovery in Western Australia. Initial reconnaissance works to verify 20 identified targets are now on the cards in preparation for a maiden drilling campaign planned for the second half of the year.

ASX-listed Oar Resources has laid the foundation for drilling programs on three fronts following a $2.3m placement. Funds will be used to advance the Crown PGE-nickel-copper project west of Chalice Mining’s renowned Julimar discovery in Western Australia, launch a maiden gold drilling program at Douglas Canyon in Nevada, and continue work at the emerging Gibraltar kaolin-halloysite project in South Australia.

Buru Energy is set to kick off its 2021 oil exploration program in the Canning Basin in the north of Western Australia where it is targeting 97 million barrels of conventional oil from back-to-back wells. A rig has been mobilised at Buru’s first Currajong 1 well with a second well, Rafael 1, to follow. A seismic survey to define new targets is also on the cards.