Public Company News

At a time when junior miners are screaming for cash, no such problem exists at the David and Chris Reed led Neometals. Last quarter the company reported cash of $31m and today they announced their Chinese partner in the Mt Marion Lithium project near Coolgardie will pay them another $38m to increase their stake in the project.

Determined not to repeat the sins of past owners of the Wiluna Gold plant in W.A, Blackham Resources are pulling out all stops to increase their free milling base load ore before they remove the mothballs from the plant around the middle of the year. The company recently announced they have added another 19 000 ounces, or $30m worth of gold to the Matilda Mine prospect.

Perth based listed cancer drug hopeful Pharmaust, has received a $546 000 Government windfall from the Research and Development Rebate Scheme. Under the scheme, eligible Australian companies that are undertaking approved research and development activities can claim up to 43.5% of their expenditure back from the Federal Government.

ASX listed ATM machine operator Stargroup’s 19.25% investment in their Korean ATM machine supplier and manufacturer NeoICP, is now officially more than just a strategic tie up. NeoICP recently announced they had booked a AUD$1.9m profit (EBITDA) for the first 6 months of the 2016 financial year, blitzing last year’s full year result of just $1.7m.

Newly minted Triton Minerals M.D Garth Higgo has wasted no time in placing his stamp on the company with the appointment of a new Chief Operating Officer, a new Chief Financial Officer and a new Non Executive Director. Mr Higgo was himself only appointed as Chief Executive Officer in December and was previously the Global Director of Mining for Aurecon Group and Calibre Global.

With the construction of their Lithium plant underway at Mt Marion in W.A, Neometals appear to have received a major economic boost for the project ahead of it springing to life in mid 2016. In a sign that demand for Lithium is on the increase, leading Chinese lithium producer, Ganfeng Lithium Co have agreed to either take or pay for 80 000 tonnes of sub 6% spodumene concentrate per annum.

In a move that will add to the credibility of its incontinence medical device known as the PeriCoach, ASX listed Analytica have cemented a major distribution agreement in the UK. The PeriCoach system, which is designed to assist women who suffer from urinary incontinence to correctly exercise their pelvic floor muscles will now be distributed in the UK by Savantini Ltd.

The Blackham Resources train continues to gather steam as the company hurtles towards production in Wiluna, possibly as soon as the middle of this year. Blackham recently announced an upgrade to their existing resources at the Galaxy and Golden Age deposits at the Matilda Gold project with the addition of another 40 000 ounces of gold.

Avid market watchers will now start trying to value Blackham Resources in search of that elusive arbitrage as the company hurtles towards production in Wiluna next quarter. The company has firmed up its base load feed for the old Wiluna Gold plant after its latest round of drilling again failed to disappoint.

The Federal Government’s “Research and Development Incentive” grant has re-filled the coffers of ASX listed medical device company Analytica to the tune of $1.9m. The company has developed its much heralded “Pericoach” medical device to assist women to either treat, or in some cases completely cure urinary incontinence.

ASX Listed Blackham Resources are pulling out all stops in their bid to become the next WA gold explorer to make the leap into production. Recent drilling campaigns have confirmed that their Galaxy deposit is still going past the 100m mark and firmed up yet another prospect at the Matilda Gold project and with a 3500m drilling campaign to kick off next week, watch this space.

Perth based owner of the worlds largest flake graphite deposit, Triton Minerals is looking forward to a solid 6 months of news flow as they aim to complete their DFS on the Balama North project by mid year and produce a maiden graphite resource for the Ancuabe project sometime this quarter. Both projects are in Mozambique.