Public Company News

Having successfully tipped Neometals share price to jump on three previous occasions, Euroz has again tipped the soon to be Lithium miner's share price to move north, this time by 23%. Euroz say their most recent analysis of the Mt Marion Lithium mine near Coolgardie, which is 26.9% owned by Neometals, shows the company's share price should be more like 53c instead of 43c.

The dominos are starting to fall for ASX listed Medical Cannabis upstart MGC Pharma, with its third regulatory approval in 3 months being granted. The company will now have the right to market its unique medical cannabis based cosmetic line known as “MGC Derma” into the $1.9b a year Canadian market after the Canadian regulatory authority, Health Canada approved the product.

ASX listed explorer Hammer Metals is in the final planning stages of executing multiple drilling programs across a host of exciting targets within its Mt Isa Copper/Gold/Cobalt project. Importantly it will follow up an impressive historic Copper/Gold/Cobalt hit on its Millennium leases that is the equivalent of a 19m intersection grading 4% Copper.

MGC Pharma have broken into the $11b American skin care market after achieving US Food and Drug Administration approval for their “MGC Derma” cosmetics line manufactured from medical cannabis. They recently secured the notoriously hard to get FDA approval giving them the right to market their products into all US states and they have already secured a 1.2m Euro order.

West Perth based explorer Drake Resources is now about to officially become a technology company after completing extensive due diligence on Israeli based cyber security firm Genome Technology Ltd. Both Drake and Genome have completed their respective due diligence programs and a reverse takeover of Genome by Drake will now occur.

Sipa Resources' share price jumped 20% last week on the back of what looks to be a successful drilling campaign at the Akelikongo nickel/copper Project in Uganda. The market is eagerly awaiting the results of the latest drilling campaign after the company announced last week they had hit significant mineralization in 10 out of 12 holes with all results currently pending.

With only months to go before making the leap into production, Neometals have discovered a new highly mineralized zone at their celebrated Mt Marion Lithium project in W.A. Grades are all above the project average of 1.39% Li2O and include a 186m intersection grading 1.82% Li2O from 95m, 139m grading 1.69% Li2O from 116m and 92m @ 1.54% Li2O from just 54m down.

Red Mountain Mining will now significantly ramp up their Batangas Gold project in the Philippines following the formalising of their joint venture agreement this week with UK based Bluebird Merchant Ventures. Red Mountain management negotiated a sublime deal with Bluebird that values the Batangas project at 3 times the entire company's market cap.

Shark Mitigation Systems have announced the achievement of their first major milestone after only listing on the ASX last week. The company says that its “Clever Buoy” shark detection sonar is now ready for commercialization after successfully completing a trial at the iconic Bondi beach and receiving endorsement from the Australian Professional Ocean Lifeguard Association.

Blackham Resources have been furiously bolstering their gold resources at the Matilda Gold project in Wiluna on the eve of production which now looks imminent following the granting of a number of key approvals. In an extraordinarily good deal Blackham just paid $1.5m for a calcine tailings stockpile that has around $100m worth of gold in it - and Jorc compliant too.

There's an old saying that everyone's a genius with the benefit of hindsight. Looking back now it doesn't seem that hard to understand why new Shark deterrent and detection company Shark Mitigation Systems jumped 30% above its listing price last week following on from its admission to the ASX on Thursday. The company's share price touched 26c last week after listing at 20c.

ASX listed Alterra are on the hunt for dairy land in WA suitable for a new style of dairy farming known as System 5. System 5 works on the theory that if cows are made comfortable and not exposed to extreme heat and cold and not made to walk many kilometres a day to be milked or get feed, then they will produce up to 50% more milk.