Public Company News

Legend Mining has raised $9.8m in a two-tranche subscription agreement with miner Independence Group to fund further exploration. The company has also entered into several joint venture agreements relating to its Rockford project in the Fraser Range, WA, with Legend to acquire a 70% interest in two exploration tenements from the Creasy Group, while Independence will gain a 60% interest in Legend’s Rockford North tenements.

Greenland Minerals’ optimisation study has successfully reduced the capital cost of its giant Kvanefjeld rare earth project in southern Greenland by almost 40% to USD$505 million. This is partly due to the development of an optimised flotation circuit that can produce a concentrate with grades of at least 22% REO, which allows the scale of refinery circuit and the size of processing equipment to be reduced.

St George Mining is poised to start drilling 42 new electromagnetic conductors that have been identified by downhole surveys at its flagship Mt Alexander base metals project near Leonora in the Goldfields region of WA. The highest priority targets are located away from defined zones of nickel-copper sulphides and could significantly extend the mineralised ore system in the Cathedrals Belt.

Adriatic Metals has intersected encouraging, wide intersections of base and precious metals mineralisation from drilling in its new Concession area at the northern end of the Rupice prospect in Bosnia. The company has also outlined a strong chargeable anomaly from a ground geophysical survey, located 200m west of the current program at Rupice, which contains no historical drilling.

Intermin Resources is selling its non-core Menzies and Goongarrie gold projects north of Kalgoorlie to gold explorer Kingwest Resources for a total consideration of $8 million in cash and shares. The sale supports Intermin’s goal of developing a standalone gold project in the Kalgoorlie and Coolgardie regions, while allowing it to retain exposure to any upside in the two projects through a substantial shareholding in Kingwest.

Big River Gold has now secured funds to optimise and complete a bankable feasibility study for its exciting Borborema gold project in north-eastern Brazil by the end of this year. The company recently divested its Juruena-Novo Astro gold projects for $3m in cash and scrip and has raised $4.11m in a rights issue, as it vectors towards the development of its flagship gold project.

Infinity Lithium has signed a binding letter of intent to sell its non-core Banio and Mamana potash projects in Gabon to an unnamed buyer for up to USD$3 million in cash or shares. The buyer has a 12-month option to pay the full amount in cash or pay USD$2 million in shares in a public or private entity with a further USD$1 million in shares to be paid on delivery of a JORC-compliant scoping study within three years.

Calidus Resources has purchased two prospective exploration licences located adjacent to its flagship Warrawoona gold project near Marble Bar, WA, in a strategy to build on its existing resource base of 1.25 million ounces. The company also completed its 70% earn-in on a joint venture agreement with Novo Resources over certain Warrawoona tenements, by spending $2m spend over three years to obtain the stake holding.

Blackstone Minerals has kicked off drilling at its Ta Khoa nickel project located in northern Vietnam and is initially targeting disseminated sulphide mineralisation at the Ban Phuc prospect, following geophysical surveys that showed chargeable anomalies were present. According to the company, the initial IP survey test line run through the area showed a strong correlation with the known massive and disseminated sulphide occurrences.

ClearVue Technologies looks poised to ride the rising green power revolutionary wave with its unique solar glass invention that converts sunshine into energy, courtesy of its technology that can be embedded into window glass. The glass panels can be used to self-power smart façades that automatically adjust light and ventilation to suit building occupants and also reduce the cost of lighting, cooling and heating.

Great Southern Mining’s maiden drilling program at its Rocky Ponds breccia pipe discovery in northern Queensland has intersected strongly anomalous zones peaking at 0.2g/t gold, 49.7g/t silver, 0.44% copper and 0.58% zinc within sulphide-rich epithermal altered mineralisation. The deposit geology is similar to the Mount Carlton mine, 20km to the south, which hosts 1 million ounces of gold and 33 million ounces of silver.

Strike Energy has intersected pronounced hydrocarbon shows in the Lesueur Sandstone and Woodada Siltstone formations at its West Erregulla-2 well in the Perth Basin, Western Australia. Both formations display fair to good visual porosity in the cuttings and good elevated mud gas readings that were better than those encountered in the nearby West Erregulla-1 well.