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Countrywide Hydrogen Pty Ltd and Walkinshaw Automotive Group Pty Ltd have signed an agreement to investigate the development of hydrogen-powered trucks for the Australian market.
The companies will assess the feasibility of delivering right-hand-drive (RHD) fuel cell trucks throughout Australia, which could involve importing left-hand-drive (LHD) fuel cell trucks and converting them, or securing truck bodies to be fitted out with a commercially available Toyota fuel cell and electric drive train.
This partnership is meant to expedite the introduction of hydrogen fuel cell trucks in Australia, aligning with the national goal to rebuild the nation’s manufacturing sector with a focus on clean energy.
Hot Chili's PEA for Costa Fuego Copper-Gold Project shows strong economics with a low start-up capital of US$1.05 billion, promising a fast payback within 3.5 years. The base-case post-tax Net Present Value (NPV 8%) is estimated between US$733 million to US$1.46 billion with an Internal Rate of Return (IRR) of 17% to 25%.
The project is estimated to have an average CuEq2 production rate of 112 kt pa, producing 1.41 Mt Cu and 718 koz Au over an initial mine life of 16 years. Total revenue for the period is estimated at US$13.52 billion with a total free cash flow of approximately US$3.28 billion after taxes, operating costs, capital costs, and royalties.
The project, one of few global copper developments projects at low elevation with a water permit and power connection, is set to begin a 30,000 m drilling program across multiple targets. Approximately 80% of workstreams to support a Pre-Feasibility Study (PFS) are completed, with minimal study costs remaining.
Hot Chili Limited has announced a binding US$15 million Investment Agreement with Osisko Gold Royalties, which will provide a 1.0% Net Smelter Return (NSR) royalty on copper and a 3% NSR royalty on gold across the Company’s Costa Fuego Copper-Gold Project.
The investment will be used to advance the Costa Fuego Pre-Feasibility Studies, resource growth drilling programs, and overall advancement of the Project, significantly boosting Hot Chili’s cash position to approximately A$26 million upon closing.
In the event of a change in control before the fourth anniversary of closing, buyback rights are available and Osisko will have a Right of First Offer (ROFO) with respect to the sale of any future royalty, stream, or similar interests by Hot Chili.
The CAE reported significant copper, gold and silver grades from lab results, with promising indicators furthering the potential scale of the Mt Cannindah breccia zone project.
The ongoing IP survey and positive metallurgical test work continue to build on the promising future of the project, as global copper inventories remain historically low.
Future plans involve continuing the exploration to reveal the full potential of the project area and sharing further assay results from drilling, the IP survey, and metallurgical testing as they become available.
Neuren Pharmaceuticals has opened the first site in the United States for its Phase 2 clinical trial of NNZ- 2591 in Prader-Willi syndrome, aiming to generate necessary data for designing a subsequent registration trial.
Alongside this, Phase 2 trials of NNZ-2591 are also undergoing for three other neurodevelopmental disorders – Phelan-McDermid, Pitt Hopkins and Angelman syndromes, each of which has received orphan drug designation from the FDA.
The open-label Phase 2 trial will examine safety, tolerability, pharmacokinetics and efficacy with NNZ-2591 in up to 20 children aged 4 to 12 years over 13 weeks, with the dosage escalated up to the target dose subject to safety review, and a final follow-up assessment conducted two weeks after the end of treatment.
Cavalier Resources Limited has completed an extensive soil geochemical program at the Ella’s Rock Project revealing three Lithium-Caesium-Tantalum (‘LCT’) bearing geochemical target areas, untested by drilling as of yet.
The project lies south of Wesfarmers’ Mt Holland high-grade lithium hydroxide project, and included the analysis of 1,810 soil samples that covered a sparsely explored area of over 8,000 hectares.
The Company plans to conduct further detailed groundwork, review and planning to drill test these LCT bearing targets.
The final assays from the recent core drilling program at the Briggs Copper Project in Central Queensland have extended areas of copper-molybdenum sulphide mineralisation, with the drill hole 23BRD0016 extending the known limits by over 150m to the north-east.
Intersections containing >0.2% Cu have now been found over more than a 1,650m strike-length within the ~2,000m long geochemical anomaly, aiding in an updated Mineral Resource Estimate to be published soon.
Alma Metals Limited, who fund the exploration at Briggs under an Earn-In Joint Venture agreement, will resume drilling in early Q3 2023 to target further extensions of the deposit and to assess multiple higher-grade zones in more detail.
High grades of lithium, tin and tantalum were found in the initial drill holes at the Villasrubias lithium project in Salamanca, Western Spain, including in 11 out of 12 drilled holes across a strike length of 250 metres.
Multiple pegmatite bodies and tin-bearing quartz veins were intersected, all of which remain open in all directions, and follow-up exploration is now being planned.
ETM's Managing Director, Daniel Mamadou, expressed excitement at the successful discovery of lithium at shallow depths and anticipates sharing more results as they become available.
Raiden Resources has agreed to acquire an 80% interest in 5 tenements neighboring Azure Minerals' Andover lithium project in the Pilbara, interpreted to harbor Andover Complex rocks and seen as prospective for pegmatite-hosted lithium mineralization.
Aside from significant lithium exploration prospects, the acquired blocks are also deemed likely for nickel sulphide discovery, with two tenements adjacent to the Andover/Ridgeline nickel deposit.
In exchange for 80% interest, Raiden will pay the vendor $50k in cash and issue $365k in Raiden common shares; the remaining 20% will be free-carried to a final investment decision to mine.
Carnaby Resources Limited announced impressive initial test results from the Mount Hope copper gold discovery at the Greater Duchess Copper Gold Project. This included excellent copper recoveries between 92-99% and high gold recoveries of 82-95%.
The tests indicated the potential for a high-grade, highly sought-after product with an absence of any harmful elements and promisingly high concentrate grades.
The company continues to drill at Mount Hope with three operational drill rigs pushing towards an initial mineral resource estimate at the Greater Duchess.
The updated Mineral Resource Estimate for the Barbara deposit in North Queensland reveals 2.2 million tonnes at 2.0% copper and 0.2g/t gold, containing 45,000 tonnes of copper metal and 12,000 ounces of gold metal.
89% of the Resource is now in the Indicated category, and Aeris Resources is investigating the potential of a new underground operation at Barbara.
There is significant potential to increase the Barbara Mineral Resource with further drilling down-plunge.
Clarity Pharmaceuticals is setting up a Center of Excellence at the Idaho Accelerator Center (IAC) for advanced research and development of Targeted Copper Theranostics (TCTs).
The investment will allow Clarity to efficiently execute key projects, support readiness of products in clinical development, and expand TCTs as a platform for large global markets in the radiopharmaceutical sector.
According to the Executive Chairman of Clarity, Dr. Alan Taylor, the establishment of the center is a vital next step that will strengthen Clarity's industry-academia collaboration, maintain its competitive advantage, and ultimately improve cancer treatment outcomes for children and adults.
Microba Life Sciences Limited announces the successful dosing of the first participants in the Phase I Clinical Trial of its potential new treatment for ulcerative colitis, a drug candidate known as MAP 315.
The trial, which is a randomised, double-blind, placebo-controlled study on 32 healthy adults, is being conducted by Nucleus Network in Melbourne, Australia and is aligned with FDA pre-IND engagement.
Results from the trial, featuring two cohorts of 16 participants each receiving MAP 315 or a matching placebo for 14 consecutive days, are expected to be available by December 2023.
MinRex Resources Limited has extended its exclusive option to purchase the Tancred Lithium Project in Southeast Ireland for three more months to allow for assay results of collected samples and completion of technical review on lithium prospectivity.
The key terms of the extended transaction include an option extension fee of $10,000, exclusive rights for due diligence during the option period, cash payment or share issue of AUD$200,000, unlisted options, performance shares, and completion of a Bankable Feasibility Study or asset sale.
MinRex is currently exploring potential partnerships with other lithium explorers over the mineral belt as they complete due diligence on the Tancred Lithium Project.
The Ambient Noise Tomography (ANT) survey analysis, received for Bynoe's northern Survey Area 1, reveals multiple potential pegmatite targets which feature low seismic velocity anomalies. These sites seem to be along strike from Core Lithium’s Carlton and Hang Gong resources.
Dr. Gerrit Oliver, Fleet Space Technologies' Director of Planetary Geophysics, and Jason Ward, EverGreen Lithium's Head of Exploration, are optimistic about the survey's results. The data suggests that the ANT method is effectively suited for imaging potential pegmatites in the region given favourable noise conditions and the velocity contrast between pegmatites and host rock.
The data obtained from the ANT survey will be combined with geochemical results to guide the planning of EverGreen Lithium's maiden drilling program. Further interpretation and analysis of the ANT data in Survey Area 1 continues, along with ongoing geochemical sampling and mapping.
Spodumene rich pegmatites, correlated with potential lithium sources, have been intersected in multiple drill locations in Latin's lithium corridor, signifying a significant extension of the 'Colina pegmatite system'. Assay results remain pending.
Initial drilling and mapping results confirm the presence of a 'district scale' lithium corridor within Latin's tenements, potentially extending up to 26 km southwest of the Company's flagship 45 Mt Colina Deposit.
Latin Resources' VP Operations - Americas, highlights these findings as significant and validating their regional interpretation of a mineralised pegmatite system. Continuous drilling will aim to expand the current resource base at Colina and fully understand the larger regional system.
The IIH EVOLVE Phase III clinical trial from Invex Therapeutics has encountered difficulties with lower than expected enrolment due to increased screening failures and slower site activations. As a result, changes to the trial design have been proposed to resolve these issues.
Invex plans to improve patient enrolment by amending both key inclusion criteria and secondary endpoints. At the same time, the company initiates a detailed market assessment to understand the risk of approved GLP-1 receptor agonists to its own IIH market opportunity.
Despite the challenges, Invex anticipates a cash balance of approximately $22.6 million by 30 June 2023.
Biome Australia Limited has secured a $1.2 million revolving debt facility from Tradeplus24, which is intended for working capital purposes to fund its anticipated growth.
The debt facility, which carries a current interest rate of 10.6872% per annum, is repayable by 31 July 2024 and is secured against Biome Trading’s assets, including a priority charge over its receivables and a Deed of Guarantee and Indemnity from Biome.
Biome aims to seek a renewal of this facility before the end of FY24 if needed, and this deal doesn't dilute the value of current shareholders' stakes.
Final assays from the core drilling program at the Briggs Copper Project has extended the zones of copper-molybdenum sulphide mineralisation beyond the existing Briggs Central Mineral Resource. Hole ID 23BRD0016 notably increased the known limits by over 150m.
Multiple intersections containing >0.2% Cu have been recorded over a 1,650m strike-length within the Briggs deposit, supporting an updated Mineral Resource estimate which the company expects to publish soon.
Drilling is expected to resume in early Q3 2023 to target further extensions of the deposit and assess higher-grade zones in more detail. An updated Mineral Resource estimate to reflect the large footprint of the Briggs copper deposit is planned to be completed in early July.
The Ti Tree Project at Andrada has expanded its pegmatite continuity to 69m+ in a newly identified stacked system, which continues to be open at depth, resulting in highly encouraging indicators for regional scale potential.
A total of 31 holes have been completed for 2,393m with 34 individual pegmatite intercepts encountered, with the first batch of assays anticipated in approximately 1 to 2 weeks, and the second batch in about 6 weeks.
Progress at Ti Tree continues to grow as the geological understanding increases, with over 400 mapped pegmatites and 18 regional target areas identified so far, which are expected to increase with geophysics and photogrammetry surveys in the coming weeks.
Western Yilgarn is making notable progress in its Julimar West Project and expects the grant of its EL 70/5111 application to be completed by the end of June 2023, post which an immediate exploration program will commence.
Several exciting targets have been discovered in the Western Yilgarn's review, ranging from mineralised Pegmatites to significant Tin, Niobium, and Tantalum results, along with anomalous Lithium uncovered by the Geological Survey of Western Australia.
Despite the delay in the DMIRS processing the company's application, the Chairman remains optimistic due to the potential in the battery metals discovery zone, particularly the 3MT NiEQ Chalice Mining Gonneville Discovery.