Public Company News

Kingwest Resources' has rounded out the year at its Menzies gold project with some nice hits including 2.48m @ 23.22g/t that included almost half a metre going a whopping 110g/t – or 3.5 ounces to the tonne gold from the First Hit prospect. First Hit produced the best intercept of the year for Kingwest at 57.6 gram metres from 121.52m downhole, followed by Pericles with 41.5 gram metres.

Azumah Resources' is weighing up funding options for its share of capital costs for the Wa gold project in Africa with an estimated $75 million in potential equity financing on the cards. Azumah has also appointed Peder Olsen to oversee the development of the Wa gold project. Olsen recently lead Endeavour Mining's construction of the US$425m gold mine at Ity in Cote d'Ivoire.

Ora Banda Mining should be a leading player in the reinvigoration of WA's Eastern Goldfields mining region over the next decade. Following a corporate restructuring and a brief period in Administration under previous management, the company has been busy scrubbing up its Davyhurst gold project as it builds a robust ore inventory, finalises its mine approvals and completes the economic modelling necessary for the restart of production.

Troy Resources has hit the ball out of the park with an amazing 17m drill intersection going nearly 5 ounces to the tonne gold in South America. Importantly, the smashingly good intersection was encountered just 37m down hole at the company's Hicks 1 extension within the Karouni Gold project. As a final curtsy to the crowd, it also included a 4m section grading an eye-watering 623.17g/t gold.

It is difficult to know just how many golden secrets Anglo Australian's Mandilla Gold project might still be hiding with recent drilling potentially identifying an 800-metre-long new target in the “Western Zone”, with results like 37m @ 1.64g/t gold from 104m. The new Western Zone is just to the west of Anglo's Mandilla East deposit which is also growing in stature and size.

TNG Ltd has made the final leap towards securing buyers for 100% of its entire forecasted production from its flagship Mount Peake, vanadium-titanium-iron project in the Northern Territory, after signing the final off-take term sheet with Indian mining conglomerate, Vimson Group, for the iron to be produced from Mt Peake. The last hurdle comes after the company announced just yesterday it had secured offtake agreements for 100% of its vanadium pentoxide products.

Active minerals sands miner, Image Resources, may have found a new, 40 kilometre long shoreline trend running both west of and parallel to its current zircon-rich Boonanarring heavy minerals ore reserves in Western Australia. The company has been busy with the drill rig throughout 2019 as it goes about upgrading Boonanarring's proven reserves of 9.3 million tonnes at 8.6% heavy metals and its probable reserves of 10.5Mt at 5.9% HM.

PharmAust has expanded its national network of participating veterinary and university institutions who will join the ASX-listed biotech's anti-cancer crusade for dogs. With the pace of phase II clinical trials for its promising “Monepantel” anti-cancer treatment projected to rise, the company is looking to impact K9 – and possibly even human – cancers. Phase I trials were very positive, with a notable reduction in cancerous tumours and prolonged lifespans.

Multi-commodity explorer, Venus Metals, has received a vote of confidence from Queensland multi-millionaire and veteran coal miner, Christopher Wallin, who has ploughed $4 million into the company at 20 cents a share. The investment gives Mr Wallin, one of Australia's top 50 richest people, a substantial 17.25% stake in the Perth based ASX-listed company as it attempts to unlock some riches in the Youanmi mineral province in WA.

TNG Ltd has signed a binding agreement with major global commodity trader for the offtake of 40% of the vanadium pentoxide products from its flagship Mount Peake vanadium-titanium-iron project in the NT. The company already has a binding offtake agreement with South Korea's Woojin for at least 60% of the project's vanadium output and a binding term sheet with Gunvor for its iron products.

Neometals has added some serious length and width to its Widgie South nickel trend at the Mt Edwards project near Widgemooltha, in the first serious drill campaign to hit the area since 2008. Best intercepts include 16 metres grading 1.45% nickel and 21 metres grading 1.05% nickel. Narrow high-grade nickel zones in the broader intercepts ran up to 4.79% over two metres and 2.42% over four metres.

Classic Minerals has hit the sweet spot with the drill rig at its Kat Gap project, near Southern Cross in WA, with high-grade intercepts such as 3m @ 20.70g/t gold from 39m downhole that includes a bonanza, 1m intersection, going well over an ounce to the tonne gold. As the drilling density increases across Kat Gap, the mineralisation could reach in-excess of 800m in strike.