Public Company News

After an aggressive exploration campaign across its Menzies and Goongarrie projects in WA, Kingwest Resources has tabled a scoping study for just one of its prospects, Goongarrie Lady, where it is hoping to pull out $10.3m in 10 months before tax and financing from one open pit. The company is planning to initially mine 149,000 tonnes at an impressive 3.12 g/t for 14,000 ounces of recovered gold.

Neometals has lifted the nickel resource at its Armstrong deposit 90km south of Kalgoorlie, by an impressive 60% following a substantial RC drilling program that was designed to infill the old resource and test the extents of interpreted high-grade nickel shoots. Armstrong forms part of the Mt Edwards project where an expanding resource base, across 11 deposits, is bolstering the company’s position as an aspiring nickel developer.

Tyranna Resources has its sights firmly set on a plan to advance its Dragon and Knight nickel projects that lie about 30 to 40 kilometres east of St George Mining’s Mt Alexander nickel project in the Goldfields of WA. The ASX-listed company has put together a grab bag of interesting looking nickel targets and is now planning to embark on a maiden exploration program in the region.

Horizon Minerals has taken a conservative approach to the current state of play in the market and is putting as much cash as possible into bringing its flagship Boorara gold project east of Kalgoorlie, into production. To maintain its balance sheet, the company’s Board and Executive team have agreed to sacrifice 25% of their salaries to support the company’s vision. Management said it is still aiming to break ground at Boorara in the June quarter of this year.

Blackstone Minerals has exercised its option to acquire a 90 per cent interest in the Ta Khoa nickel project in northern Vietnam from AMR Nickel Limited for AUD$1M Blackstone shares based on its 30-day VWAP. The Perth-based explorer picked up a binding option to acquire the project back in May 2019. The project includes the mothballed Ban Phuc underground nickel mine and 450,000 tonne per annum nickel concentrator built to Australian standards.

Great Southern Mining has remained steadfastly confident of finding something big at its Queensland multi-metals exploration play. The challenges of holding a vast swathe of remote, yet very prospective ground have not prevented the company from fast-tracking the exploration pathway to discovery with a new hyperspectral survey providing an insight into the mineral composition of the underlying rocks. The survey has identified five high priority gold targets and ten secondary gold targets at the Edinburgh Park project.

Middle Island Resources has tabled an impressive five-fold increase to the global mineral resource at its Sandstone gold play in Western Australia, adding half a million ounces to the Two Mile Hill Deeps deposit. This brings the total resource at the project to nearly 624,000 ounces. With the rods still turning on site and a goal of ploughing 17,000 metres of drilling into the project, it is unclear as to just where this resource will finally end up.

Managing Editor of Bulls N Bears, Matt Birney, writes that history can provide guidance when it comes to just how long it takes the ASX to recover from global health related pandemics. From peak to trough and peak again, the ASX is remarkably consistent after a pandemic and the numbers will shock you. So just what does this mean for this Coronavirus inspired market crash?

Venus Metals has lodged two interesting looking tenement applications on the south-western shore of Lake Ballard to be known as the Henderson gold-nickel project, located 50 kilometres northwest of Menzies in WA. The tenements fall within the Mt Ida greenstone belt, which is host to some significant projects including Mt Ida and Davyhurst, where gold’s renewed interest is breathing new life into those projects.

Kingwest Resources’ First Hit prospect has broken its own solid gold records, smashing out three metres with an incredible five ounces to the tonne gold that also includes a smaller two metre zone going 237.5 grams per tonne - over 7.5 ounces of gold to the tonne. Another stellar result was 5m grading 13.1g/t from 32m - an important result confirming the presence of the Stirling lode, above Lady Shenton.

Novo Resources continues to demonstrate the developing potential of its Pilbara conglomerate gold hosted Egina and Beatons Creek deposits with ongoing high-tech mechanical test work squeezing out more and more fine gold from the ancient rocks. A small sub-sample of Egina concentrate was “seeded” to determine the effectiveness the German-based TOMRA mechanical ore sorting testing equipment and the company said that 120 out of 120 of the seeded nuggets were recovered.

Australian Potash has remarkably penned its second offtake deal during turbulent times, securing another “take-or-pay” partner for nearly half of all its “K-Brite” premium Sulphate of Potash fertilizer to be produced annually from its WA Lake Wells project. The exceptional and binding ten-year term sheet has been agreed with Singaporean tier one, Migao International, who produced over one million tonnes of specialty fertiliser during 2019 from seven facilities across China.