Public Company News

Buru Energy will swell its coffers for a second time this financial year with the latest crude oil sale from its Ungani oil field in WA's Canning Basin. The current oil lifting of 71,038 barrels is expected to net the company between $1.6m and $1.7m for its share of the sale by the Buru-Roc Oil joint venture to BP Singapore Pte Ltd.

The word “helium” conjures up images of kids' birthday parties, floating balloons, and squeaky voices, however, there is much more to the commercial proposition for helium. ASX-listed Blue Star Helium has backed itself in with a strategy to amass hordes of land in the USA that surrounds a historic helium gas field that once produced helium at awesome grades.

TSX-V listed Novo Resources has excised an additional option to take control of GBM Resources tenure on the Malmsbury goldfield in Victoria. The transaction builds on its initial ground position in the region acquired from Kalamazoo Resources last week with the company moving to control the entire highly prospective goldfield. Malmsbury lies 55km south of Kirkland Lake's world-class 6.1 million-ounce Fosterville gold mine.

Venus Metals has unveiled a 29 per cent increase in the contained gold component of its historic 90 per cent-owned Bellchambers project 23km south-west of Sandstone in WA less than 100km from its joint-ventured flagship Youanmi gold project in the Yilgarn Craton. The resource estimate for Bellchambers now stands at 536,000 tonnes at 1.27 g/t for 21,800 ounces of contained gold.

Altech Chemicals looks set to stamp its mark on lithium battery technology continuing the development of a revolutionary high purity alumina coating for use in anode production. The coating shows the potential to extend the life of lithium-ion batteries, increase their overall capacity and enhance their chargeability. The company is developing the technology to incorporate into its product stream for manufacture from its HPA plant currently under construction in Malaysia.

Deep Yellow is reaping the benefits of its evolving development program in Namibia, with infill drilling yielding a continuing stream of solid intercepts including the highest ever recorded assay from Tumas 3, which tipped the scales at a screaming 5,820 eppm uranium oxide. The program will form part of the company's pre-feasibility study over the project which is scheduled to be delivered before the close of 2020.

ASX-listed clinical-stage oncology group, PharmAust, has taken the next significant step towards establishing whether its cancer fighting drug, Monepantel, can also inhibit COVID-19. The Perth-based company has struck an agreement with an internationally renowned biomedical research university in the Netherlands that will examine the suitability of Monepantel and Monepantel Sulfone for the all-important preclinical ex-vivo stage of testing that precedes the critical clinical trials.

Lindian Resources ‘elephant hunt' in Guinea has delivered in spades after the company announced this week it has made a potentially transformational acquisition after entering into an agreement to procure the colossal, 847 million tonne high-grade Lelouma bauxite project. The Lelouma project boasts an impressive grade of 45.1 per cent alumina and is located close to established mining infrastructure.

88 Energy has tuned up its Peregrine oil project on Alaska's lucrative North Slope by using detailed seismic analysis to demonstrate a favourable comparison with its neighbour, the giant Willow oil field operated by major US oil company, ConocoPhillips. According to the company, the work has identified many similarities between its key prospects and neighbouring oil fields and could potentially tweak the interest of potential farm-in partners.

TSX-V listed Novo Resources is set to join the lucrative hunt for gold in Victoria after putting an option in place with Kalamazoo Resources to earn an initial interest in the Queens gold project. The Queens project overlies the world-class Bendigo Tectonic Zone and is only 55km south of Kirkland Lake's well known 6.1 million-ounce Fosterville gold mine.

Aspiring Indonesia gold producer, Sihayo Gold, is set to kick off a first-pass 22-hole diamond drilling program totalling about 5,500m at the exciting Hutabargot Julu prospect at its Sihayo gold project in North Sumatra. The ASX-listed, Brisbane-based company is looking to start drilling next month once drill rigs have been flown in by helicopter and assembled in the mountainous jungle terrain.

Oakdale Resources looks to have hit the mark in Nevada with diamond drilling intersecting a broad breccia target at its Lambarson Canyon gold project. The drill bit has chewed through a structural quartz breccia that is recognised as hosting high-grade gold with previous surface sampling yielding assays of more than 61 g/t gold.