Public Company News

Vonex has gone from strength to strength since listing on the Australian Stock Exchange in June last year with the company now on track for a 30% increase in new customer sales year-on-year in the current quarter. The company expects sales growth to accelerate throughout the 2020 financial year while increased engagement with its social media indicates that Vonex’s brand awareness is growing rapidly.

Azumah Resources has estimated that its Wa gold project in Ghana could deliver a pre-tax cash flow of USD$448m using an assumed gold price of USD$1,500 per ounce, up 66% from its scoping study estimate that used a price USD$1,300 per ounce. The higher gold price could also lift pre-tax NPV by almost 75% to USD$309m and increase the internal rate of return from 35% to about 54%.

TNG Limited has selected an optimised single-stage, 2 million tonne per annum operation for its Mount Peake vanadium-titanium-iron mine in the Northern Territory that will trim capital expenditure by $29m to $824m. The project is now estimated to deliver a life-of-mine net cash flow of $12.2 billion, pre-tax net present value of $2.8 billion and pre-tax IRR of 33% while capital payback is estimated at 2.8 years.

Calidus Resources has generated shallow, high-grade gold intercepts outside the existing resources in drilling completed at its emerging Warrawoona project, near Marble Bar, WA. The results are adjacent to the flagship Klondyke deposit and included 12 metres grading 2.68 grams per tonne gold from only 32m down-hole and 4m @ 4.3g/t gold from 44m, in areas that were previously anticipated to be barren of mineralisation.

Strike Energy has increased the net pay zone within the Kingia sandstone conventional gas discovery by 17 metres to 58 metres after completing wireline logging at its West Erregulla-2 well in the Perth Basin, WA. Down-hole tools have indicated the Kingia reservoir as having pressures between 6,814 psia and 6,828 psia with good permeability of 102mD, which supports the potential for a significant recoverable gas resource.

Heavy rare earths producer, Northern Minerals, has started exploration drilling at its Browns Range project in the Kimberley region of WA to follow up recent successes at the emerging Dazzler prospect. The company will carry out 3,000m of reverse circulation drilling at the Dazzler and Iceman prospects and a further 1,500m at the Banshee South, Cyclops, Longshot and Rogue prospects.

Bellevue Gold continues to churn out the high-grade gold hits beneath its historical namesake mine near Leinster, WA, with diamond drilling outside the current resource area returning a peak intersection of 4.4m @ 62.4g/t gold in the new Deacon Lode. The company has also intersected high-grade gold of up to 1.1m @ 75.3g/t gold from 654.6m at the newly discovered Mavis Lode that runs parallel to the Deacon Lode.

ASX-listed graphite developer Volt Resources has lodged a draft prospectus for its USD$40 million Mauritian Note with the Stock Exchange of Mauritius and expects approval to be granted within 4 weeks. The Mauritian bond issue follows on from the company’s previously announced Tanzanian Note issue, both of which will provide funding to underpin the company’s planned development of its Bunyu Graphite project in Tanzania.

According to a recent technical report for Reedy Lagoon’s Burracoppin magnetite deposit located near Merredin, WA, the project’s iron ores could be upgraded into a high-grade concentrate, suitable as a feed product for the HIsmelt process that generates high-value “pig” iron. The company is proposing to complete drilling at the Burracoppin project to supplement historical work and then generate a JORC-compliant mineral resource.

PharmAust has finalised contractual arrangements with the University of Melbourne’s U-Vet Werribee Animal Hospital to commence the Phase II clinical trials into the effectiveness of its Monepantel anti-cancer drug in dogs. The trial will be overseen by U-Vet’s Head of Small Animal Medicine and Oncology, Dr Claire Cannon, who will also oversee recruitment at other nominated sites within Australia.

Hammer Metals has discovered the new Shadow zone of copper-gold mineralisation at the Mt Philp Breccia Complex in Queensland’s Mount Isa mining district with rock chip sampling returning up to 4.64 grams per tonne gold and 27.7% copper. The company plans to carry out further mapping and sampling of the new area, which has been delineated over a 200m strike and is up to 50m wide.

Geopacific Resources has strengthened its Board with the appointment of former Gold Road Resources Managing Director Ian Murray as a non-executive director to assist with the development of its Woodlark gold project in PNG. He played a key role in progressing Gold Road’s Gruyere project from an exploration play through to a mining operation that is scheduled to produce 300,000 ounces of gold per annum in joint venture with Gold Fields.