The new target could host a polymetallic mineralised skarn similar to the nearby Mount Garnet high grade zinc-copper deposit. Arc Exploration is carrying out mapping to better define this target. It is also evaluating the potential to exploit the small oxide resource in the Triple Crown gold deposit.
With full control of the Ilo Norte Copper-Gold Project, Latin Resources is now seeking a new partner for the project. The company believes there is potential for a moderate tonnage high grade copper-gold deposit. This and its proximity to infrastructure and favourable topography, would likely be an attractive mine development.
Catalysts for Admedus include updates on the vaccine trial and CardioCel® growth. Morgans has placed a A$0.22 price target on Admedus, considerably higher than the last traded price of A$0.088.
Mapping and sampling have identified two priority locations on Mafia Island and another at the Kiswere Project. Testwork has returned high grade total heavy minerals and the company is looking to drill these high priority targets this year.
The sale of the first commercial large scale energy storage system is a milestone for RedFlow. This demonstrates the value of its ZBM systems to support distributed generation and the use of renewables. It also showcases its product, which is well suited to commercial buildings.
The Muga Potash project continues to benefit from the access to infrastructure in Spain, adding electricity supply from the local grid supplied by Spanish utility company Iberdrola SA. It also demonstrates the in country momentum building for Muga as the DFS is due to be completed in Q1 2015.
The bulls kept charging on Wall Street overnight with the Dow and S&P 500 climbing to new record levels, while the Nasdaq closed above the 5,000 mark for the first time in 15 years. Gold and oil eased.
The ASX SPI 200 is up 14 points to 5954.
The new Yellowfin Project is estimated to host 1.4Tcf of gas. It is located next to Freeport McMoran’s Highlander Jeanerette-1 Discovery that flowed at 75MMcfd during testing.
KBR and SKEC have finalised the Engineering, Procurement and Construction joint venture agreement for the Magnolia LNG project. This signing of the Joint Venture agreement formalises the EPC Contractor milestone for Magnolia LNG project that was established under the MOU originally signed between MLNG, KBR and SK E&C USA in December 2014.
Documentation for the Kvanefjeld uranium and rare earth project is well underway with the Feasibility Study due for completion soon. The Environmental and Social Impact Assessments will follow in early Q3. Greenland Minerals and Energy is firming up the permitting timeline.
The acquisitions of Vow Financial and Resi Mortgage Corporation has allowed Yellow Brick Road to capture economies of scale. Cost growth was contained at 33%, improving the operating expense to gross profit ratio by a third while revenues were up 288%. The company is on track to achieve an underlying EBITDA profit in the 2015 financial year.
Red Mountain's latest high-grade gold results have boosted the potential of early trial mining and ore sale or toll processing options from Batangas. The company has already entered discussions with an established toll-milling operator in southeast China. Shares are expected to open higher.