Public Company News

ASX-listed Quantum Graphite has executed a binding offtake agreement with Swiss-based global metal and minerals trading group MRI Trading AG for 100 per cent of stage 1 production from its Uley 2 flake graphite mine. The five-year agreement will add flake graphite to MRI’s existing mineral coverage and provide Quantum with access to the trader’s customer base across Europe and Japan.

Estrella Resources says an appreciation in nickel prices will see it accelerate development plans for its Spargoville project located about 20km southwest of Kambalda, WA. The company picked up the rights to the operation during a lull in the nickel price and believes under current conditions it could be scrubbed up to be a lucrative play that warrants the mine's development.

Image Resources has revealed a more than ten-fold increase in its total mineral sand stocks in an updated mineral resource estimate following its acquisition of the McCalls project near Gingin in WA. The company’s holding now stands at 6.4 billion tonnes after securing the asset in March in a deal worth $12 million.

Meeka Gold is looking to accelerate metallurgical test work on rare earths from its Cascade and Circle Valley projects near Esperance in WA after assay results from the wholly owned operations pointed to shallow, wide and high-grade mineralisation across a significant tenement area. The company has now teamed up with the Australian Nuclear Science and Technology Organisation to develop a commercial product.

Podium Minerals is closing in on preferred locations to start mining at its Parks Reef platinum group gold project in WA’s Mid West. Results from its stage-nine drilling program continued to deliver the potential for higher grades in its hunt for critical minerals. Last month the company doubled the depth of the Parks Reef orebody to more than 500m along a 15km strike length.

After poring over its geological data, Tambourah Metals has lit up a handful of nickel, zinc and gold targets at its Achilles project, 200km north of Laverton in WA. The explorer plans to start drilling during the second or third quarter of 2022. Reprocessing of geophysical figures has identified a deep-seated structure whilst a data review has revealed historical gold and zinc hits.

Mineral explorer Cyclone Metals has been granted two exploration permits covering about 198 square kilometres in the Otago region of New Zealand’s South Island. The newly acquired Drybread and Waikerikeri projects form part of the company’s broader six-project acquisition completed in March. At the time the two projects were under application, however approvals have been given for a period of five years and can be renewed.

Emu NL’s Badja gold project has continued to produce quality hits in the shadow of the historic Gnows Nest mine. The junior explorer’s assays from its stage three drilling program have outlined more high-grade gold from the north plunging ore shoot at the Gnows Nest ore body in addition to discovering a new, shallow broad gold zone at the Flying Emu prospect.

Junior explorer Askari Metals has bagged further high-grade assay results from a second phase of RC drilling at its Burracoppin gold project in WA’s eastern Wheatbelt region. Significant results include a high-grade hit of 2.5m going 11.24 g/t gold contained within an 8.5m strike running 4.88 g/t gold from 19.5m. Another 1m intersection grading 13.2 g/t gold from 34m was also recorded.

Multi-metal explorer American West Metals says the latest assays from a diamond probe of its West Desert project in Utah have confirmed the presence of near-surface extensions of zinc, copper, gold and indium mineralisation that has emphasised the operation’s open-pit mining potential. According to the company, the results add another win to a remarkable campaign that continues to highlight the venture’s quality and scale.

Beetaloo Basin hopeful Empire Energy Group has outlined the 1250-metre-long hydraulic stimulation program it is planning for its Carpentaria-2H gas discovery in June. The company is trialling several fluid mixes used in the fracking process to obtain the best production rates from the Velkerri Formation B Shale in its massive but remote gas resource.

New gold producer Calidus Resources has poured the first gold bar from its carbon in leach circuit, marking the successful commissioning of a full processing circuit at its Warrawoona gold project in WA. A total of 33kg of gold was poured with the company’s gold production now scheduled to ramp up to about 90,000 ounces per year in stage one.