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News from 22nd February, 2023

*Disclaimer

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ILU: Revised Wimmera Ore Reserve and Mineral Resource Update

ILUKA RESOURCES LIMITED 🔗 📄 📈

Iluka Resources has announced an Ore Reserve estimate of 180Mt grading 5.4% HM for 9.9Mt of contained HM at the Wimmera heavy mineral (HM) deposit WIM100.
A Mineral Resource update for the WIM100 deposit, reported in accordance with the JORC Code (2012 edition), reveals an Indicated Mineral Resource estimate of 380Mt grading 4.6% HM for 18Mt of contained HM, and an Inferred Mineral Resource estimate of 70Mt grading 4.3% HM for 3Mt of contained HM.
This represents a 9% increase in the total reported HM resource tonnage and an 11% increase in the Indicated resource category compared to the previous Mineral Resource estimate announced on 30 November 2021.

2023-02-22 20:25:00

DOW: Sale of Australian Transport Projects

DOWNER EDI LIMITED 🔗 📄 📈

Downer EDI Limited has entered into an agreement to sell its Australian Transport Projects business to a wholly owned Australian subsidiary of Gamuda Berhad.
The sale price represents an enterprise value of $212 million and Downer will receive cash proceeds at the completion of the transaction.
The divestment of Australian Transport Projects is part of Downer’s ongoing focus on enhancing the alignment of its portfolio and commitment to realise value for shareholders.

2023-02-22 20:13:00

MR1: MR1 signs agreement to sell 50% of TM-REX to TransAlta

MONTEM RESOURCES LIMITED. 🔗 📄 📈

Montem has signed an agreement to sell 50% of the Tent Mountain Renewable Energy Complex (“TM-REX”) to TransAlta Corporation.
TransAlta will pay up to A$26.7 million (C$24.7 million) for the project and Montem and TransAlta will form a partnership.
The proceeds from the sale are expected to provide the capital required to advance the development of the Tent Mountain Pumped Hydro Energy Storage (“TM-PHES”).

2023-02-22 16:19:00

TOP: TOP announces new On-Market Share Buy-Back

THORNEY OPPORTUNITIES LTD 🔗 📄 📈

Thorney Opportunities Ltd (TOP or Company) intends to commence a share buy-back program for 12 months.
The Directors do not intend to participate in the Share Buy-Back.
The maximum number of shares which the Company proposes to acquire under the Share B uy-Back is 14,215,888.

2023-02-22 13:27:00

HT1: FIRB approval received for sale of Soprano stake

HT&E LIMITED 🔗 📄 📈

HT&E Limited has been granted approval by the Foreign Investment Review Board for the sale of its 25% interest in Soprano Design Limited to Potentia Capital.
HT&E will receive $66.3 million in cash as consideration for the sale with no further conditions.
Completion of the sale is expected to occur on 31 March 2023.

2023-02-22 13:11:00

CMG: Initial Assay Results

CRITICAL MINERALS GROUP LIMITED 🔗 📄 📈

CMG has commenced studies on battery grade Vanadium and High Purity Alumina.
BML have been engaged for Metallurgical Test Work and have received material from recent drilling at the Lindfield project.
Assay results to date are encouraging, displaying stable thicknesses and grades across the exploration program.

2023-02-22 12:38:00

G6M: G6M RAISES $4.5M VIA SHARE PURCHASE PLAN

GROUP 6 METALS LIMITED 🔗 📄 📈

Group 6 Metals Limited recently announced a Share Purchase Plan (SPP) with an initial cap of $3 million.
Due to strong demand, the maximum amount raised was increased to $4.5 million, and valid applications totalling $4.47 million were accepted.
Each investor in the SPP will be allocated an attaching option on a 1-for-2 basis, at a strike price of $0.28 per share with a two-year expiry.

2023-02-22 11:32:00

BUX: Exploration Update - Graphite Bull Project

BUXTON RESOURCES LIMITED 🔗 📄 📈

Five holes drilled to test EM targets intersected graphite mineralisation.
Confirmed strike extent of over 1,880 metres.
RC drill program completed.

2023-02-22 11:15:00

AGR: Update - Completion of Private Placement

AGUIA RESOURCES LIMITED 🔗 📄 📈

Aguia Resources Limited has completed a private placement to raise approximately A$1.5 million.
The funds will be used for working capital and the initial construction of the Organic Phosphate mine.
Aguia has two well-advanced mining projects in Southern Brazil: metallic green copper and organic phosphate.

2023-02-22 11:06:00

ADO: AnteoTech signs MOU with Trinseo

ANTEOTECH LTD 🔗 📄 📈

AnteoX™ has signed a Memorandum of Understanding (MOU) with Trinseo Europe GmbH to combine their anode binder technology and provide for a clear path to market.
The partnership will pair Trinseo’s VOLTABOND latex binder chemistry with Anteo X™ binder additive to deliver performance improvements to customers, as well as improvements to anode chemistries containing silicon from 0-35%.
The MOU outlines the development of a joint roadmap to market including the scaling of their product.

2023-02-22 10:38:00

FYI: FYI Resumes Control of HPA Project

FYI RESOURCES LIMITED 🔗 📄 📈

FYI and Alcoa of Australia signed a Term Sheet for joint development of an HPA project in September 2021.
Alcoa has elected to withdraw from the project, however FYI retains joint access to intellectual property, data and information, project assets and customer relationships.
FYI remains fully committed to the HPA project and will develop an alternative plan and schedule.

2023-02-22 09:59:00

GCM: DRILL PROGRAM PLANNED AT ULTRA HIGH PURITY MCINTOSH GRAPHITE

GREEN CRITICAL MINERALS LIMITED 🔗 📄 📈

GCM has a 50-100Mt* Exploration Target and is drilling four priority targets for the first time.
The drill program will consist of ~10,500m of RC drilling and diamond drilling for metallurgical testing will follow.
Petrographic samples to determine indicative flake size are yet to be released.

2023-02-22 09:48:00

OZZ: Shortfall Placed in addition to a Placement of $350k

OZZ RESOURCES LIMITED 🔗 📄 📈

OZZ Resources Ltd (ASX: OZZ) has completed the 22,524,829 shortfall shares under their 3 for 5 Non-renounceable Rights Entitlement issue, raising additional funds of $1,126,241.
CPS Capital Group Pty Ltd was the lead manager and broker for the Offer.
The Company also completed a further placement to raise $350,000 at $0.05, issuing 7,000,000 Shares.

2023-02-22 09:47:00

NWM: Arunta West drilling results

NORWEST MINERALS LIMITED 🔗 📄 📈

Norwest’s maiden 20-hole RC drill program targeted a REE soil anomaly extending 3 km along the contact between the Mount Webb Granite and Bitter Springs Group sediments.
Significant REE mineralisation was encountered in 4 RC holes extending over ~1,500m drilled into the Bitter Springs sediments, with intersections being near surface and flat lying.
All clearances are in place for immediate follow-up RC drilling with 22 planned holes targeting further shallow REE mineralisation.

2023-02-22 09:47:00

ASN: Suitability of Colorado River Water for DLE Process

ANSON RESOURCES LIMITED 🔗 📄 📈

Test work confirms Colorado River water suitable for Sunresin's DLE process with minor pre-treatment.
Colorado River provides water requirements of Paradox Project.
More than 80% of water used in lithium extraction and purification process is recycled inside battery limits.

2023-02-22 09:43:00

KKO: Core Hole 270-03C Intersects Significant Gassy Zones

KINETIKO ENERGY LTD 🔗 📄 📈

Core hole 270-03C intersects significant gassy zones.
Only 2km from South Africa’s largest gas pipeline.
Ongoing exploration success suggests potential for large scale production.

2023-02-22 09:42:00

TRT: RC and Aircore Drilling Commences at Pingrup

TODD RIVER RESOURCES LIMITED 🔗 📄 📈

Focussed Reverse Circulation (RC) and reconnaissance Aircore drilling underway to follow up recently completed Moving Loop Electromagnetic (MLTEM) survey.
Seven EM features associated with interpreted mafic/ultramafic geology highlighted for follow up drilling.
Sampling for Heavy Mineral Analysis work around the Berkshire Valley Project completed, analysis expected to take several weeks to complete.

2023-02-22 09:39:00

TYX: Maiden drill program intersects 2.02% lithium over 22.75m

TYRANNA RESOURCES LIMITED 🔗 📄 📈

Tyranna Resources Ltd has announced the results of its maiden drilling campaign at the Muvero Prospect in Angola, Africa, with high-grade lithium mineralisation encountered.
Results include NDDH004 (22.75m @ 2.02% Li2O from 20.25m); NDDH005 (7m @ 1.80% Li2O and 3.90m & 0.70% Li2O) and NDDH009 (14m @ 1.39% Li2O).
Follow up drilling is planned to commence soon, with potential credits including Tantalum, Tin and Pollucite.

2023-02-22 09:37:00

RIE: Riedel Appoints CEO to Advance Kingman Gold Project, Arizona

RIEDEL RESOURCES LIMITED 🔗 📄 📈

Riedel Resources Limited appoints David Groombridge as CEO to advance its Kingman Gold Project in Arizona.
Mr Groombridge is an experienced Geoscientist with a Masters qualification, technical and management experience within Australia and internationally.
Previously Exploration Manager with Medallion Metals Limited, Mr Groombridge was integral in advancing the 1.6Moz Au Eq. Ravensthorpe Gold Project.

2023-02-22 09:35:00

MAN: Mandrake Secures Large-Scale Lithium Project in the US

MANDRAKE RESOURCES LIMITED 🔗 📄 📈

Mandrake has secured a large-scale lithium project in the Paradox Basin, southeast Utah, USA.
The project comprises a land position of over 56,000 acres and includes a Binding Agreement with Utah State Govt for 34,000 acres.
The project is located close to Anson Resources' Paradox Lithium Project with access to Tier 1 infrastructure.

2023-02-22 09:35:00

TGF: Placement and Entitlement Offer

TRIBECA GLOBAL NATURAL RESOURCES LIMITED 🔗 📄 📈

TGF offers Placement to raise approximately $19.37 million.
1 For 4 Entitlement Offer to raise up to a further $32.29 million.
Offer price of $2.10 per New Share with 6.67% discount to last closing share price and 21.64% discount to estimated post-tax NTA.

2023-02-22 09:30:00

CHR: Charger Confirms High Grade Lithium at Medcalf

CHARGER METALS NL 🔗 📄 📈

Maiden reverse circulation drilling program at Medcalf Spodumene Discovery returned high grade lithium intersections.
Multiple stacked spodumene-pegmatites intersected within a 100m wide zone with up to 12m of aggregate thickness.
Drilling continuing to test for extensions to the spodumene pegmatites.

2023-02-22 09:29:00

CVN: Partial Bedout Divestment

CARNARVON ENERGY LIMITED 🔗 📄 📈

Carnarvon divested a 10% interest in Bedout assets, including the Dorado field, for US$146MM.
This comprised of an upfront payment of US$56MM and a carry of US$90MM on Carnarvon's forward expenditure.
Upon completion, Carnarvon will hold a pro-forma cash balance of approximately A$178MM.

2023-02-22 09:24:00

AMT: Large Animal Study Completed Showing Positive Results

ALLEGRA ORTHOPAEDICS LIMITED 🔗 📄 📈

The primary endpoint of the large animal sheep study at SAHMRI was achieved with no safety concerns observed.
The study achieved the acceptance criteria of bone growth, biocompatibility and no adverse effects on animals.
The results demonstrated safety and performance outcomes equivalent to an FDA-cleared product.

2023-02-22 09:23:00

WC1: Exploration and Operational Update

WEST COBAR METALS LIMITED 🔗 📄 📈

Results from maiden drilling at Salazar Rare Earth Elements (REE) Clay Project in southern Western Australia due before month end.
Beneficiation testwork on Salazar ore progressing well with technology partners.
Diamond holes to be drilled at Bulla Park Copper Project (NSW) in June 2023 quarter, and planning underway for commencement of field activities at Hermit Hill Lithium Project in Northern Territory.

2023-02-22 09:18:00

MEL: Vali First Gas Production

METGASCO LTD 🔗 📄 📈

Vali field achieved first production on Tuesday 21 February, providing a significant new source of gas to Eastern Australia.
First gas was achieved 3 years from field discovery.
Odin field connection is advancing with flowline laid.

2023-02-22 09:13:00

PMT: Phase II HLS Testwork Results on CV5 Pegmatite Material

PATRIOT BATTERY METALS INC. 🔗 📄 📈

Heavy Liquid Separation (HLS) testwork on eleven core sample composites indicate that a Dense Media Separation (DMS) process is applicable to the greater CV5 Pegmatite body, with an average spodumene concentrate grade of 5.98% Li 2O at 77% recovery.
Results affirm previous HLS and DMS results, with a marketable spodumene concentrate exceeding 5.5% Li 2O at high 70’s recovery achievable using a DMS process.
Five composite samples have been selected from the CV13 Pegmatite for HLS testing to evaluate the potential of DMS on this material.

2023-02-22 09:10:00

VEN: Vali field first gas

VINTAGE ENERGY LTD 🔗 📄 📈

Vali gas field began supplying eastern Australia on Tuesday 21st February.
Revenue generation from Vintage commenced 4.5 years after ASX float.
Odin gas field connection progressing with flowline laid.

2023-02-22 09:07:00

MAG: Best copper-gold intersection to date at Corvette

MAGMATIC RESOURCES LIMITED 🔗 📄 📈

Assay results of diamond hole 23MYDD422 have returned the strongest contiguous copper-gold intersection to date from the Corvette Prospect.
The mineralised footprint has been significantly expanded by the new drill hole and remains untested to the north, east and at depth.
Since commencement of the high impact drilling, 10 diamond holes for 7,994 metres have been completed.

2023-02-22 09:00:00

CUF: Cufe to move to 100% ownership of JWD Iron Ore Rights

CUFE LTD 🔗 📄 📈

CuFe to increase its interest in the iron rights over the JWD iron ore mine from 60% to 100% via the issue of 150 million CuF e shares and refunding the historical cash contributions.
CuFe exercises its right to access a further 900,000mt of iron ore at the JWD resource, with the original exercise price of $2.25m to be settled via transfer of 5% of its joint venture interest in the Tennant Creek Copper Project.
Yarram milestone payments of $1.5m restructured to defer majority of remaining milestone payment until decision to mine rather than on announcement of indicated resource.

2023-02-22 08:58:00

LNK: Link and Rest announce in principle partnership extension

LINK ADMINISTRATION HOLDINGS LIMITED 🔗 📄 📈

Link Administration Holdings Limited (ASX: LNK) and long-standing client Rest have agreed in principle to extend their 30-year partnership by a further five years.
Upon finalisation of a binding agreement, Link Group’s Retirement and Superannuation Solutions (RSS) business will deliver core administration and experience-led customer engagement services to the fund.
Servicing the retail sector, Rest has become one of the largest industry superannuation funds by membership with more than 1.9 million members and approximately $70 billion.

2023-02-22 08:35:00

AVE: Clinical CBD program expands with the Lambert Initiative

AVECHO BIOTECHNOLOGY LIMITED 🔗 📄 📈

Avecho has expanded its collaboration with the Lambert Initiative to provide cannabidiol soft-gel capsules for two clinical trials.
These studies are scheduled to start in Q3 2023, with preparatory work underway now.
Seven different clinical trials using Avecho's TPM® enhanced products are scheduled for 2023.

2023-02-22 08:25:00

LEL: Update - Infill Drilling Results at Burke Graphite Deposit

LITHIUM ENERGY LIMITED 🔗 📄 📈

Lithium Energy Limited has been informed of an error in the assay measurements from its recently completed infill drilling programme at the Burke Graphite Project.
The error affected 8 Reverse Circulation (RC) holes, out of the 20 for which results have been announced, resulting in some measurements incorrectly reporting marginally lower grades of Total Graphitic Carbon (TGC), whilst others reported marginally higher grades of %TGC.
The corrections are relatively minor and are not expected to have a material impact on the Company's overall results.

2023-02-22 08:17:00

ALK: Tomingley Gold Extension Project Approved, Financing Secured

ALKANE RESOURCES LIMITED 🔗 📄 📈

The Tomingley Gold Extension Project has been approved by the NSW Minister for Planning, allowing for open cut and underground mining at the Roswell and San Antonio deposits.
Underground mining at Roswell is due to commence before the end of CY2023, with debt funding of $50m from Macquarie Bank secured for the development.
100,000 ounces of gold hedging with a weighted average price of A$2,825 per ounce has been put in place for the period March 2024 to December 2026.

2023-02-22 08:07:00

PUR: Over 3,000ppm TREO Results at Calingiri East

PURSUIT MINERALS LTD 🔗 📄 📈

Pursuit has confirmed significant regolith and bedrock REE mineralisation at Calingiri East.
An external expert review has outlined three large areas of downslope REE potential that need further exploration.
The company plans to explore these targets as part of their forthcoming AC program before seeding commences in April.

2023-02-22 08:07:00

AGN: Non-Dilutive Funding Received to Progress Alzheimers Studies

ARGENICA THERAPEUTICS LIMITED 🔗 📄 📈

Argenica Therapeutics Limited has received non-dilutive cash funding from philanthropic donors to progress preclinical studies into the efficacy of ARG -007 in Alzheimer's Disease.
The total funding amount includes $250,000 from the McCusker Charitable Foundation and $100,000 from Mr Jim Litis.
This follows the results of Argenica’s positive in vitro Amyloid Beta (Abeta) study, which showed a 25 µM concentration of ARG -007 reducing Abeta aggregation by more than 50%.

2023-02-22 08:06:00

DRE: 2023 Drilling Campaign Commenced at Mangaroon

DREADNOUGHT RESOURCES LTD 🔗 📄 📈

The Yin Ironstone Complex consists of 43km of REE mineralised ironstones, including a JORC 2012 Mineral Resource of 14.36Mt @ 1.13% TREO and a JORC 2012 Exploration Target of 50 - 100Mt at 0.9 - 1.3% TREO.
RC drilling has commenced at Yin to grow the existing Resource, as well as first pass discovery drilling along the Exploration Target.
Assays from the remaining 66 holes drilled at the C1-C5 carbonatites in 2022 will be announced during the March 2023 quarter, with additional updates and assays from drill programs at Mangaroon ongoing in 2023.

2023-02-22 08:02:00

SPK: Spark New Zealand announces on-market share buy-back

SPARK NEW ZEALAND LIMITED 🔗 📄 📈

Spark has allocated up to NZ$350 million for an on-market share buy-back.
The buy-back will commence after the release of the new 3-year strategy on 5 April 2023.
Shares will be acquired on the NZX and ASX, at prices that are in line with the prevailing market price.

2023-02-22 07:34:00

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