Public Company News

Hammer Metals with a market cap of just $5m have done a deal with one of the world’s largest miners, Newmont Mining in a $15m farm in deal for their Mt Isa prospects in Queensland. The joint venture is targeting an Ernest Henry style copper-gold deposit which boasts 220 million tonnes at 1.1% Cu and 0.5g/t Au.

Legend Mining’s strategy to identify another Nova-Bollinger style nickel deposit in the Fraser Range has passed its first hurdle with the discovery of multiple bedrock conductors at the company’s Rockford project. The Nova-Bollinger discovery, which also lies within the Fraser Range is situated on a similar tenor gravity ridge and the two projects are only about 120km apart.

Soon to be Lithium producer Neometals has added another string to its bow by signing a binding term sheet to secure the exclusive global rights to a proprietary hydrometallurgical technology.

Blackham Resources dream of restarting the old Wiluna Gold Mine looks to be real as the company yesterday drew down on a $7m debt facility from Orion Mine Finance to prepare for production. Importantly, the old mothballed Wiluna Gold plant already has a 1.3Mtpa plant, a gas power station, borefields and a 350 person accommodation village all of which will no doubt put the project on the fast track to production.

Terrain Minerals look to be on a winner with the Monet gold prospect within the Menzies based Rembrant project in WA just weeks after taking an option over it.

ASX listed ATM machine operator Stargroup, has officially doubled in size after completing a quality acquisition of a competitor’s 104 machine ATM network. The company says its annual revenues will more than double as a result of the acquisition from $2.4m to $5m and its annual transactions will move from around 1 million per year to 2 million per year. Importantly, Stargroup says it will now be cash flow positive as a result of the marriage with Cash Plus Australia Pty Ltd.

Anti cancer drug hopeful Pharmaust has appointed expert medical research company GenScript to take the trialling of their exciting anticancer drug PPL-1 to the next level. GenScript will trial the company's PPL-1 drug in animals in conjunction with standard care drugs that are usually prescribed for each particular type of cancer. The company is looking to ensure there is no adverse reaction when mixing their drug with others,

Perth based ATM machine growth story Stargroup hasn’t let the grass grow under its feet since inking a deal to merge with listed ATM company iCash earlier this year.

Perth based Troy Resources has achieved a major milestone with the pouring of its first gold bar at the company’s new Karouni Gold plant in Guyana, South America. The gold bar, which weighed in at around 4.7kg is worth about $220 000 at today’s Australian dollar gold price.

Perth based Triton Minerals have discovered another source of jumbo flake graphite at a new prospect known as “T12” within the Ancuabe graphite project in the east of Mozambique.

ASX listed medical device company Analytica say that their incontinence device known as the Peri-Coach system may well appeal to females that are suffering from sexual dis-function following a survey

Perth based Blackham Resources have beefed up their board as they rapidly approach production at the Matilda Gold project in Wiluna, Western Australia.