Public Company News

Tyranna Resources says it is not currently in a position to consider Marmota Limited’s bid for its Jumbuck gold project in South Australia’s gold-rich Gawler Craton after taking legal advice that will see it first deal with an earlier offer from ASX-listed Syngas that has been slow to settle. Whilst the Marmota bid appears to have fewer conditions, Tyranna said it was compelled by binding exclusivity obligations to first deal with the Syngas offer.

ASX-listed Adriatic Metals can now move on to the urban planning permit phase of the approvals process for its Veovaca precious and base metals deposit after Bosnia’s Federal Government signed off on the environmental permit, removing a key hurdle on the pathway to production. The permit covers the Veovaca mine, plant and tailings facility.

ASX-listed Hammer Metals has picked up $150,000 from the West Australian Government’s Exploration Incentive Scheme to test a compelling gravity and structural target at its Bronzewing South Gold project, located 50kms northeast of Leinster. The grant will partly fund the drilling of the deeper gravity targets around Bronzewing south, whilst drilling is also set to resume at the shallow North Orelia Target.

Amongst the debris of ASX-listed companies that have been laid to waste by the ravages of the Coronavirus, one curious company has managed to get a listing away. Aged care in-home monitoring firm, InteliCare, will debut on the ASX today after its lead manager, JP Equity, closed its book early when it was overrun by investors looking to get a piece of the $5.5m IPO.

Middle Island Resources has been on a roll at its Sandstone project in Western Australia, having smashed out over 13 kilometres of phase one RC drilling across some 14 different prospects that has identified four new deposits in the process. All of the phase one drilling was completed within a 4km radius of the company’s processing plant and importantly, most of the targets already sit on mining leases.

Private equity backed Barton Gold has laid its cards on the table and signalled its intention to list the ex-WPG Resources mining assets in South Australia on the ASX by appointing a top tier legal firm to handle its IPO. Barton is developing a plan to restart the mothballed Tarcoola project as early as the second half of 2021.

After a successful year of vectoring in on the source of its significant nickel hits at Mt Alexander in WA, St George Mining will now kick off a major drill program. The latest round of drilling comes hot on the heels of the company’s oversubscribed $3.6 million placement, highlighting St Georges commitment to fast-tracking the project .

TNT Mines has just picked up a swathe of new uranium-vanadium mineral claims in the US and the market has been all over it with TNT’s stock jumping more than fivefold in the last two weeks, reaching highs of 22c from a low of 4c. The market meerkats are on high alert right now for anything that has a whiff of uranium.

Automotive conglomerate, AMA Group, has locked in its first fleet customer in SG Fleet who manages a 140,000 strong fleet of vehicles. The deal with the fleet management, vehicle leasing and salary packaging firm should add 4000 new repair jobs a year to AMA’s network of panel and mechanical repair workshops across Australia and New Zealand.

ASX-listed oil explorer, 88 Energy, has identified a second oil appraisal location close to the historical “Heavenly-1” test well at its Icewine project in Alaska’s oil-rich North Slope after integrating the results of its recently drilled, “Charlie-1” gas and condensate discovery well. 88 Energy believes the new appraisal location now has a better chance of finding oil in the target Seabee formation.

Norwest Energy, along with JV partner and Operator, Mineral Resources, is collaborating with other Perth Basin operators to secure a drilling rig for a multi-well program commencing in the third quarter of this year. Norwest and Mineral Resources are looking to join the consortium to secure a rig on beneficial terms to drill their highly anticipated Lockyer Deep-1 exploration well.

Perth’s Infinity Lithium has managed to muscle its way into the EU lithium market and was part of a heavyweight team this week that presented to the Vice Presidents of the European Commission and the European Investment Bank. With the EU now on a mission to become self-sustainable in lithium, Infinity’s San Jose lithium project is looking good.