Public Company News

Whilst most other medical marijuana companies are still trying to work out how to make money, ASX-listed MGC Pharmaceuticals are busy collecting purchase orders for their cannabis based products. The company has signed a binding heads of agreement with local pharmaceutical distributor, HL Pharma to distribute MGC's low cost, cannabis based epilepsy drug CannEpil in Australia.

ASX listed PharmAust’s wholly owned subsidiary Epichem has been named WA exporter of the year in recognition of the Perth-based company’s ongoing excellence in the medicinal chemistry field. Epichem also received the Health and Biotechnology gong at the prestigious West Australian business event and PharmAust are predicting further rapid growth at the subsidiary, forecasting revenues of $4 million for FY18.

Lithium Australia’s plans for entering the high-value business of battery cathode materials with the acquisition of the Very Small Particle Company have been boosted by independent test results. A test lab in Germany found VSPC’s cathode material, which is used to make batteries for grid-scale electricity storage, performed even better than expected.

ASX-listed MGC Pharmaceuticals has signed the first of three sale agreements with Korean cosmetics manufacturer Varm Cosmo as part of the Perth-listed company’s $40 million deal with the Asian skincare business. MGC says the initial $8 million order will be followed by two more orders in the coming weeks to complete the landmark cannabis supply agreement.

Lithium Australia are on track to give the green light to a large scale, US$42m pilot plant for their SiLeach Lithium processing technology technology in Malaysia thanks to significant global interest in financing and offtake deals. The Perth-based technologist said off-take proceeds would be one of three principal sources of funding for the project, along with the company’s +$10m in cash reserves and future R&D rebates.

ASX-listed DroneShield has closed a share placement after receiving bids to raise $2.32 million in order to develop its innovative anti-drone technology. The company, which already has a sales presence in 50 nations, said the monies raised would be used to further market its drone detection and disabling technologies to militaries, law enforcement and civil infrastructure clients across the globe.

Blina Minerals could be set to resurrect their fortunes with a promising Cobalt project in Chile’s long-forgotten and amply named La Cobaltera district. The company has secured an option over 29 square kms immediately adjacent to historic, high-grade Copper/Cobalt workings that historically produced around 300 tonnes of high grade Cobalt during the turn of the century but has seen little modern exploration.

ASX-listed Sky and Space Global have become the first satellite company in history to facilitate financial transactions using nano-satellites as they advance towards full commercialisation of their miniature orbital devices. The history-making transaction was made in space using the Perth-listed company’s demonstration nano-satellites known as the “3 Diamonds”.

Altech’s ambitions to become the world’s biggest producer of in-demand high purity alumina (HPA) have received a major boost with a $17.4m placement that includes a $5.1m commitment from their German EPC contractor. Long-time existing shareholder, the Melewar Group also features in the new fund raising, which comes hard on the heels of a very positive financial study on the HPA project.

Auroch Minerals’ gamble on an old Czech Copper mine as future source of Cobalt for Europe’s battery factories continues to pay off, with hits of visible Cobalt minerals in the second hole of a maiden drill program. The company hit multiple bands of Copper and Cobalt sulphides over a zone of more than 130 metres, as predicted by Auroch’s 3D model.

ASX listed CV Check has started the financial year with cash receipts for the quarter up 26 per cent to $3 million on the back of a boom in corporate demand for its resume checking and verification services. The Perth-based company expects further growth in FY18 driven by cost cutting, recent wins of high-quality corporate customers and continued user take-up.

ASX-listed Sky and Space Global have successfully space tested a unique smartphone app developed to facilitate affordable phone calls, file transfers and text messaging via its three demonstration nano-satellites. The trial of the company’s “Chatellite” app was undertaken using a smartphone that costs just $1 and could be used on the Perth-listed company’s future miniature satellite network.