Public Company News

ASX-listed Estrella Resources enjoyed a stellar ride on the bourse in the wake of arguably one of the most exciting base metals discoveries last year at its Carr Boyd nickel project 80km north-north-east of Kalgoorlie. An open letter to shareholders by Chairman Les Pereira published this week suggests 2021 may prove even more of a hit.

Fresh from being awarded an “investigation” permit for its San Jose lithium project in Spain, Infinity Lithium’s proposed development of a mining and processing operation at San Jose with an estimated pre-production CAPEX of US$309 million has been given a big vote of support by key strategic investor EIT InnoEnergy.

ASX-listed clinical-stage oncology group, PharmAust has extended its pre-clinical studies collaboration with the Olivia Newton-John Cancer Research Institute as they work towards determining how effectively PharmAust’s Monepantel drug combats cancer cells.

Hot on the heels of a successful $2.4 million capital raise, unlisted Barton Gold has moved to further strengthen its leadership group as the gold explorer gears up for follow-up drilling at its historic Tarcoola gold project in the Gawler Craton, South Australia, and a possible IPO this year.

Troy Resources has eked out more encouraging exploration results at its Karouni gold mine in Guyana where it has managed to keep the drill rods turning despite a recent spate of COVID-19 infections on site. The company, forced to pull its 2020-21 Karouni gold production guidance of 35,000-40,000 ounces due to the COVID-19 outbreak and shortage of various supplies, is now looking to build the project’s ore reserves position.

Image Resources has posted a bumper year of sales from its mining operations in WA, with the mineral sands producer delivering over 310,000 tonnes of heavy mineral sands concentrates for the year. The solid production figures represent a 20 per cent jump in overall production from the previous year and an impressive $174 million in annual revenue.

Novo Resources is set to join the big league, with the company having received approval to make the move to the main board of the Toronto Stock Exchange. The change signals a significant shift in the company’s status as it continues to develop the Beatons Creek gold mine in Western Australia and prepares to join the ranks of the world’s gold producers.

Gold has stood the test of time proving it to be a stand-out performer in 2020 following the onset of COVID-19. March saw the price of the yellow metal fall to US$1,486 per ounce before rising by a stunning 40 per cent to hit an all-time US$2,067 per ounce high in August. What does 2021 hold for gold?

CZR Resources is set to cut costs for its developing Robe Mesa iron ore operation in WA’s Pilbara region after putting in place a memorandum of understanding with the owners of the port facilities at Onslow, which is located 180km to the west of the company’s developing iron ore project. The use of Onslow port drastically reduces the haulage distance from the mine gate to port.

AVZ Minerals will end 2020 on a high-note after locking in a 5-year offtake deal with China’s largest lithium compound producer, Ganfeng Lithium. The coup will see Ganfeng purchase up to 160,000 tonnes of spodumene concentrate per annum from AVZ’s world-class Manono lithium-tin project in the Democratic Republic of the Congo. The deal sees AVZ clear yet another hurdle on its development pathway as Manono edges ever closer to production.

Godolphin Resources has hit more gold at its Mt Aubrey gold project in NSW’s revered Lachlan Fold Belt, around 100km northeast of Orange. The best drill hole from its Phase 2 RC drill program hit multiple zones including 8m at 0.60 g/t gold from 56m, 2m at 1.22 g/t gold from 84m and 2m at 1.01 g/t gold from 96m.

Unlisted South Australian gold explorer, Barton Gold has easily raised $2.4 million in a private placement of convertible notes for working capital and corporate costs as it readies for a follow-up drilling program at its flagship Tarcoola gold project in SA’s revered Gawler Craton.