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Medical Marijuana company turns commercial

MGC Pharmaceuticals have done what few other medical cannabis companies have managed to do – make money.The company received first revenues from its “MGC Derma” medical cannabis based line of anti-ageing cosmetics this week from their Californian distributor who has committed to buy 1.2m Euro's worth of product in the first year. 

PharmAust to partner with world famous university to cure dog cancer

ASX listed biotech PharmAust, is rapidly making its mark on the anti-cancer drug industry with its promising ant-cancer drug known as “MPL”. The company recently announced they would partner up with the same UK university that was first responsible for splitting the atom and the discovery of stem cells in their upcoming phase 2 trial of MPL in canines.

Sky and Space Global nano-satellites to hitch a ride with Virgin Galactic

ASX listed Sky and Space Global have signed a deal with Richard Branson’s Virgin Galactic to launch a “constellation” of up to 200 of its nano-satellites into space aboard Branson’s visionary space craft “Launcher One.” Virgin Galactic created LauncherOne specifically to focus on launching nano-satellites into space in an affordable way. 

Blackham adds 106 000 ounces of gold to mining inventory in Wiluna

It seems that Blackham Resources can walk and chew gum at the same time. Even though the company is furiously preparing for the commencement of mining in 3 weeks at the Matilda Gold Project in Wiluna, they have still managed to add another 106 000 ounces of gold to their mining inventory since the delivery of their Definitive Feasibility Study just 4 months ago.

Perth shark tech company to protect worlds best surfers

Many companies that list on the ASX do so with the promise of “going global” once they are listed but don't manage to live up to that promise. One recent ASX listing that looks like it might be good for its word is Perth based Shark Mitigation Systems who have just secured a contract to protect the world's best surfers with their “Clever Buoy’ shark detection technology. 

Sipa finalise exciting new W.A prospect and prepare for drill campaign

Fresh from exploration success at their Ugandan base metals play, Sipa Resources are now about to drill their highly prospective new West Australian project in the Paterson region as the wet season takes hold in Uganda. The area is attracting the interest of the majors with Rio Tinto recently agreeing to spend $60m on neighbouring Antipa Mineral's ground to earn a 75% interest.

Hammer Metals shareholders get tax deduction for buying Hammer shares

Junior explorer Hammer Metals has accessed a little known Federal Government program to give their shareholders a tax windfall worth nearly half a cent per share. Hammer successfully applied for inclusion in the federal Government’s “Exploration Development Incentive Scheme” which effectively allows exploration companies to pass on some tax losses to their shareholders. 

Pharmaust gets $250k grant to fight “parasitic” disease

Perth based Pharmaust has received a $250k Federal grant to conduct a research program into a little known illness known as Leishmaniasis disease. They will work in partnership with a Swiss not for profit who will retain rights to any drugs produced for humans with Pharmaust retaining the rights to any drugs developed that cure Leishmaniasis in animals. 

Sipa firms up “globally significant” Nickel/Copper/Cobalt play in Uganda

Sipa Resources might be onto something at their Akelikongo Nickel/Copper prospect in Uganda. The company recently completed a 12 hole RC drilling program returning solid numbers across very wide intercepts at the project, many of which start from surface. With mineralized intersections up to 120m thick, if they find something at Akelikongo it is likely to be damn big. 

MGC Pharma breaks ground with planting of first Marijuana crop

Perth based MGC Pharmaceuticals have planted their first medical cannabis crop at their licensed growing facility in Slovenia. The company’s first crop will be around 5000 square meters in area and will be used to evaluate the best soil, nutrients and growing conditions for the planting of future large scale crops. The harvest will be used for cosmetic and medicinal purposes. 

Red Mountain PFS shows viable Philippines gold project

Red Mountain Mining have released the results from their much anticipated pre-feasibility study into the Batangas Gold Project just two hours drive south of Manila in the Philippines. The PFS shows the mine will churn out $46m in free cash over the initial 7 year mine life and produce gold at USD$735 an ounce from a maiden reserve of 128 000 ounces of gold. The project has plenty of upside from a further 320 000 ounces still sitting at inferred status.

All systems go at Blackham Resources as final mine approval falls

Blackham Resources will make the leap from explorer to producer in September this year after the final approval to crank up the old Wiluna Gold plant was granted this week at the company’s Matilda Gold project in W.A. The company says the mine will churn out $234m in free cash over the initial 7 year mine life and will produce 100 000 ounces per annum. 

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Runners of the week

Company NameOpenPeak
Ferrum Crescent0.00100.0020
Aurora Labs0.62501.0400
TV2U International0.01400.0230
Panorama Synergy0.07000.1050
Pancontinental Oil & Gas0.00200.0030
Jacka Resources0.00200.0030
Velpic0.01600.0240
ePAT Technologies0.03500.0520
Tungsten Mining0.03400.0500
Strike Energy0.05400.0780

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