Public Company News

Strike Energy’s all-scrip takeover offer for Perth Basin oil and gas company UIL Energy is now unconditional after it received acceptances for about 56% of UIL’s shares on issue. Strike will now appoint its directors Andrew Seaton and Stuart Nicholls to the board of UIL while all of UIL’s directors save for Stephen Bizzell will step down.

Anglo Australian Resources has defined a mineralised gold zone over 2.5km long and up to 250m wide at its Mandilla project located near Kambalda in WA. The company is now on the hunt for the bedrock source of the mineralisation, which it believes lies at the sheared geological contact between a granite and a sedimentary sequence that will undergo future deep drill testing, according to Anglo.

ASX listed resume verification company, CVCheck, looks set to turn cashflow positive this quarter after a sustained focus on growing its more lucrative business to business market and an assault on costs has starting to pay off. The company’s revenues have grown $5m in two years from $7.1m in FY2016 to $12.5m in FY2018 whilst customer acquisition costs and cash burn has steadily decreased.

If it wasn’t Adriatic Metals, a 46m long drill intersection boasting at least 4 different high-grade minerals would ordinarily have the West Perth investment glitterati spitting their coffee across the table at Black Toms. But such is the quality of the results of Adriatic’s ongoing drill campaign that the bar has been set very high indeed for this rapidly advancing $54m market cap ASX listed exploration company.

Vonex is progressing beta testing of its game changing “Oper8tor” conferencing app which allows users of multiple voice communication platforms such as Skype or Whatsapp to talk to each other regardless of which platform each user subscribes to. Vonex says it has successfully facilitated over 1000 conference calls using the app and it has now opened the beta testing of Oper8tor Conference via web browser to the general public.

Sky and Space Global has signed a landmark distribution agreement with Pan-American satellite tele-communications consortium, Globalsat Group, for the provision of connectivity services using its nano-satellites. Revenues from this contract will flow immediately upon successful completion of in-orbit testing of the first batch of Sky and Space nano-satellites that are expected to be blasted into space around mid 2019.

Image Resources is starting to transport its zircon-rich heavy mineral sands concentrate from the Boonanarring project north of Perth to port storage in Bunbury, barely a month after starting wet commissioning of the mine plant. First revenues could kick in before the end of the year with the first bulk shipment of the zircon-rich HMC scheduled to depart in December.

Middle Island Resources is keeping the momentum going at its Sandstone gold project in WA with a slew of holes to be drilled at greenfield targets during the first half of 2019. The program is aimed at identifying and quantifying additional open pit deposits of sufficient scale and grade to facilitate a recommissioning of the historic gold operation.

Artemis Resources has completed preliminary metallurgical test work on ore composites from its Carlow Castle gold-copper-cobalt project located near Karratha in WA, saying that the materials are amenable to gravity recovery of gold and conventional base metal flotation ore processing. Up to 82% of the copper content reported to concentrates, whilst up to 75% of the gold was recovered via combined gravity concentration methods and flotation tests.

Caravel Minerals very large, lowish grade copper play in the Wheatbelt just got interesting after the ASX listed company this week tabled a set of drill results that show grades up to three times that of the existing global resource. New results include 6m @ 1.03% copper from 108m within a broader zone of 20m @ 0.5% copper from 94m and 18m @ 0.8% copper from 102m.

Anglo Australian has outlined a suite of shallow new drilling intersections from several prospects at its Feysville gold project located near Kalgoorlie. At Think Big, results included 28m @ 2.43g/t gold from 35m down-hole, whilst exploratory drilling at Saintly doubled the strike length of that mineralisation. A new gold discovery was also located at Hyperno, with 13m @ 1.05g/t gold returned from 25m down-hole in regional aircore drilling.

Coolgardie Minerals has kicked off a near-mine exploration drilling program at its operating Geko gold mine near Coolgardie in WA, with the aim of extending mineral resources beyond the limits of the existing open pit. The work will target areas east and west of the open pit at depth and also along strike west of a high-grade supergene oxide pod of gold mineralisation noted from earlier grade control drilling.