Public Company News

The door has been kicked open for Lycaon Resources to start exploring its Stansmore niobium-rare earths project in Western Australia’s West Arunta region after it secured consent from Mines Minister, David Michael. The company says the approval will allow it to start exploration programs, including heritage and gravity surveys and drilling campaigns, on a site designated for the use and benefit of its Aboriginal inhabitants.

ra Banda Mining has further bolstered its bank balance after pocketing $11.71 million as its lucrative joint venture deal with business goliath Wesfarmers at the Davyhurst project in Western Australia’s Goldfields region nears completion. Ora Banda will now receive a final $4.29 million next week to complete the Davyhurst transaction after all conditions of the deal were satisfied.

Xanadu Mines continues to deliver positive metallurgical testwork for its Kharmagtai copper-gold project in Mongolia, with its latest figures showing recoveries of up to 94 per cent copper and 92 per cent gold. Management says tests using the “Eriez HydroFloat” system showed the company could recover valuable minerals within the 150-to-200 micron range that conventional flotation methods are unable to achieve.

Aurum Resources has scored high-grade gold hits charging as high as 45 grams per tonne from scout drilling at just the second target to be tested at its Boundiali project in West Africa’s Côte d’Ivoire. Diamond drilling designed to test a 1.7km-by-1km gold prospect revealed solid initial results, with a 6m section going 9.95g/t gold from 165m including 2m at 28.9g/t from 169m.

Galan Lithium has taken a major step towards selling product from its Hombre Muerto West lithium brine project in Argentina both locally and internationally after signing a crucial new deal with the Catamarca Government. Managing director Juan Pablo Vargas de la Vega and Catamarca Governor Raúl Jalil signed a commercial agreement that supports the grant of permits for the commercialisation of Galan’s lithium chloride concentrate.

Aurumin has secured five new exploration tenements to stretch its near 1 million-ounce Sandstone gold operations that sit about 600km north-east of Perth in Western Australia’s historic East Murchison region. The tenements sit on more than 60 square kilometres of the Youanmi terrane greenstone and consist of various historical workings and old deposits that make up several compelling targets.

American West Metals has vowed to uncover new zones of copper mineralisation at its Storm project on Canada’s Somerset Island after kicking off this year’s exploration and resource definition drilling program. The initial RC campaign will also further explore the resource potential at the company’s Thunder prospect where last year’s drilling jagged a 48.6m copper intercept going 3 per cent copper.

Image Resources has revealed a compelling prefeasibility study for its 100 per cent-owned Yandanooka mineral sands project north of Perth in Western Australia, showing an annual EBITDA of $277 million for more than eight years and a capital payback of just 15 months. The project is modelled to produce 1.04 million tonnes of heavy mineral concentrate during its 8.2-year mine life.

This week’s Bulls N’ Bears top ASX runner is … Dalaroo Metals. Its share price rose more than 182 per cent to join fellow movers and shakers Nimy Resources, Adherium and Firebrick Pharma.