Public Company News

Legend Mining has snapped up a 100 per cent interest in the Pinnacle Well gold and base metals project outside Leonora in Western Australia for a mere $50,000 cash. The company says its underexplored gem in the northern Goldfields marks Legend's first foray beyond its nickel-copper stronghold in the Fraser Range and signals a strategic gallop into the booming gold space.

Dateline Resources boss Stephen Baghdadi has put his money where his mouth is by injecting $1.06 million into the ASX-listed explorer after exercising more than 53 million options. The move has lifted his stake to nearly 13 per cent and gives the company's flagship Colosseum gold-rare earths project in California a major confidence boost as mining studies and rare earths exploration ramp up.

Singapore mining entity Bastion Mining has declared victory in its battle for control of ASX-listed Xanadu Mines, announcing its off-market takeover bid is now unconditional after Bastion secured a 55.65 per cent stake in the Mongolian-focused copper and gold explorer. Bastion quickly accumulated the required 50.1 per cent of shares necessary for a successful takeover, after offering 8c per Xanadu share.

Pilot Energy has locked in the purchase of the WA-based Cliff Head oil facility from former joint venture partner Triangle Energy and will repurpose the asset for carbon capture and storage. Pilot has acquired Triangle's remaining 78.75 per cent interest in the oil field to assume full ownership of its onshore assets as well as all its offshore assets within WA jurisdiction.

St George Mining will start a reverse circulation drilling program within days at its Araxa niobium-rare earths project in Brazil, as the company builds local community and government support to develop Araxa into a globally significant project. The RC program will be followed by a 10,000m, 16-week diamond drilling campaign in July.

Aguia Resources is set to kick off surface exploration at its prospective Atocha gold-silver project in Colombia, in a bid to generate new drill targets at the site where high-grade gold and silver have already been identified. Previous rock chip sampling returned grades of 19.9g/t, 14.65g/t and 14.2g/t gold and silver assays up to 3480g/t.

The moment of truth is close for Great Southern Mining and Gold Fields Ltd, with the JV partners getting near to drilling a 2.4-km-wide porphyry anomaly in Queensland, unearthed by an IP geophysical survey that appears to scream “drill here”. The duo believe they may be onto a “chargeability anomaly” laden with sulphides housing a significant gold-copper deposit and will need the rods to start turning to prove up that theory.

Estrella Resources has struck 7.76m of manganese oxide just below surface at its Ira Miri project in Timor-Leste. The intercept confirms the company's geological model and follows a successful site visit attended by East Timor's Prime Minister. With drilling ramping up and assays pending, Estrella is accelerating exploration in the region, supported by enthusiastic community and government backing.

Dateline Resources has kicked off a major geophysical and geochemical survey blitz at its US Colosseum gold-rare earths project aimed at unlocking a dual gold and rare earths play from one of America's most prospective geological corridors. A high-tech magnetotelluric study has been rolled out to collect detailed imaging data beneath the surface using fluctuations in the earth's natural electrical and magnetic fields generated from solar winds and lightning to detect buried breccia pipes.

This week's Bulls N' Bears ASX Runners of the Week is… Amplia Therapeutics. The biotech beauty might just be onto a fabled golden bullet for pancreatic cancer. ArchTIS Limited surged on a pair of blockbuster defence cybersecurity contracts. And Vanadium Resources unveiled an early-stage direct shipping ore agreement with a Chinese global metals trader.

Novo Resources has given its high-grade Pilbara gold and gold-antimony prospects a solid nudge, including at Sherlock Crossing, where it defined a 1.5km-long soil antimony anomaly with coincident gold. The better than 15ppm anomaly, which peaked at 48.3ppm antimony, was identified in extended sampling south of Novo's initial grid around the historic Clarke Mine, with peak gold of 85 parts per billion.

On the cusp of pouring its first gravity gold this month. Meeka Metals has also put together a $60 million share placement to expand its Murchison project operations in WA's Mid West region. The company intends to combine proceeds from the placement with cash reserves to expand and accelerate its open pit operations by mobilising a third mining fleet and picking up the pace on its underground drilling.