Public Company News

Pilbara gold hopeful Calidus Resources has been knocked over in the rush from investors looking to secure stock in their recent placement that management says was “up to 3 times oversubscribed”. In the end, the company rejected millions of dollars worth of bids, taking just $10m from investors, leaving those that missed out with no option other than to buy on market.

Shark Mitigation Systems’ cutting edge “Clever Buoy” shark detecting device will be trialled at a major beach in Southern California ahead of a possible $10 million rollout of the technology across the US state. Clever Buoy is one of the Perth-based company’s two innovative anti-shark solutions and is capable of detecting a shark and relaying its position back to lifeguards on the beach.

ASX listed Sky and Space Global is being courted by major satellite and telco industry players as the company pushes ahead with its game-changing telecommunications network based on nano-satellites. Sky and Space is the first company in history to facilitate a voice call using nano-satellites and wants to roll out up to 200 of the miniature orbital devices by 2020.

The goal of any new tech company is to get to breakeven quickly and then on to profitability. Internet of things upstart Connected IO may be only months away from positive cash flow after posting a record quarter. The company has been rapidly expanding its customer base with its disruptive, machine-to-machine communications and cellular connectivity devices as it blazes a trail in the multi trillion dollar sector

Hammer Metals are set to launch their biggest drill program this year, with more than 3000 metres of RC drilling planned to test a number of the company’s best prospects in the Mt Isa district. Drill activity will be focused on the emerging Kalman West and Hammertime prospects, which are adjacent to Hammer’s flagship Kalman deposit.

ASX listed biotech Company PharmAust has made significant progress in reformulating its promising anti-cancer drug Monepantel to improve its taste and deliver increased dosages of the substance in each pill. Monepantel has already shown pleasing results in initial clinical trials as a cancer treatment in humans and canines, with further tests of the drug planned for 2018.

Northern Minerals’ heavy rare earths project at Browns Range in the East Kimberley is rapidly taking shape, with construction of the process plant in China well advanced and the first modules headed for the site within weeks. Meanwhile, 50% of the ore has already been stockpiled as part of a fast-track development schedule that will see maiden shipments in the first half of 2018.

Calidus Resources have wrapped up control of the highly prospective greenstone belt at their flagship Warrawoona project under an innovative joint venture with neighbouring explorer Novo Resources. The deal will see Calidus earn up to 70% of the rights to any gold discovered in the basement rocks on Novo's tenements and provides a consolidation opportunity for Calidus that has eluded previous operators.

ASX listed Connected IO has secured yet another large purchase order for its cutting-edge next-gen modem like devices that allow everyday “things” and machines to be connected via the internet. The $348,000 purchase order came from California-based Premier Wireless after yet another referral from US Telco giant and Connected IO collaborator Verizon.

There aren’t many exploration projects where you can count on thick intercepts of mineralised sulphides, but Auroch Minerals probably can as it begins drilling for Cobalt, Gold and Copper and the historic Tisova Mine in the Czech Republic. Auroch have kicked off a four-hole diamond drill program at Tisova where waste dump grab samples provided some startling Cobalt and Copper assay grades.

Poseidon Nickel has given Lithium Australia access to a major processing plant at Lake Johnston and accelerated its push into Lithium processing with Lithium Australia's breakthrough Sileach technology. Under an MOU signed this week, the companies will look to jointly explore their tenements and evaluate processing opportunities using technology belonging to both companies.

Newly listed Calima Energy has boosted its acreage in the liquids-rich Montney oil and gas basin in Canada by 27% or 13,700 acres, establishing it is a significant new player in one of Canada’s hottest oil and gas regions. The additional acreage is immediately adjacent to Calima’s existing ground and was the result of some fortuitous bidding at a recent Government auction.