Public Company News

Sipa Resources' exploration program in the Paterson district in W.A has been recognised by a grant of up to $300,000 from the State and Federal Governments and the CSIRO. The new funds will provide a boost to the company's search for a major copper-gold deposit, and follows up some very encouraging results from the company's maiden reconnaissance drill program in the area.

In what appears to be an endorsement of their latest strategy to secure five highly prospective Lithium leases in Namibia, Auroch Minerals have attracted the attention of Rare Earth Minerals, a London and New York listed fund that takes strategic interests in undervalued Lithium projects around the globe. Rare Earths have taken a $650k strategic placement in Auroch.

Approvals to build Australia's first heavy rare earths plant are falling like dominoes for Northern Minerals with the Department of Mines and Petroleum giving the green light for the company to develop their Browns Range rare earths project near Halls Creek. Whilst it will be a research and development play initially, there is every chance it will still make money for the company.

ATM machine operator Stargroup, has bolted $1.7m to its bottom line after executing a hotly-anticipated asset purchase agreement with high margin Australian ATM machine service provider Indue. The $6.5m debt funded deal appears to have been well negotiated by Stargroup at just 3.8 times EBITDA. Indue's ATM business shows a very high EBITDA to sales ratio of over 40%.

Whilst most medical Marijuana companies are still trying to work out how to monetize their businesses, MGC Pharmaceuticals are busy locking down international distribution deals with real revenue flows for their unique, Cannabis based skin care line, MGC Derma. The company announced last week it had secured its first major sales order worth around AUD$65,000.

Geological tell tale signs from the latest round of drilling at Sipa Resources'nickel copper play in Uganda indicate that the company might be getting close to the pay zone with their exploration program. The latest assay results from the Akelikongo project have extended the mineralized zone by 100m and suggest that the mineral system strengthens and thickens down plunge

Sky and Space Global's breakthrough ‘nano-satellites' are moving from idea to reality with the company indicating that the first three units will be built by December 2016. They are now expected to be tested and ready for deployment by February 2017, well ahead of the second quarter launch date and telco wholesalers are already signing up to get a slice of the action.

All the pieces are falling into place for Northern Minerals' heavy rare earth project at Browns Range, with infill drilling underway before a final investment decision due in Q1 2017. It follows a sensational few months for the company that have included funding and construction deals to take Browns Range from an ambitious idea to potentially Australia's first heavy rare earths mine.

In a strong endorsement of its nano-satellite telecommunications technology, Sky and Space Global has raised $7 million in an oversubscribed capital raising at 8.5c a share. The price represents a jump that is more than 4 times the previous capital raise price of 2c a share just 6 months ago when Perth corporate types, Brett Mitchell and Peter Wall backdoor listed the company.

Pilbara Minerals' rapid rise reached a key milestone this week with the start of earthworks at Pilgangoora, one of the world's largest Lithium development projects. The news coincided with the company's AGM where shareholders were told how their company had achieved remarkable growth from a market cap of just $11 million two years ago to $700 million today.

The State Government will deploy home grown technology with global potential in a $500k deal to protect Perth beachgoers from shark attacks this summer. Perth based ASX listed Shark Mitigation Systems said today they had convinced the W.A State Government to deploy their “Clever Buoy” technology on a trial basis between the two groynes at City Beach over the summer period.

Chinese engineering firm Sinosteel MECC have agreed to defer $12m of the $60m needed to build Northern Minerals rare earths pilot plant until after the mine starts producing. Taking the money from future cashflow rather than borrowing it, dramatically changes the deal metrics and sets the company up to be Australia's first heavy rare earths producer in 2017.