KGL's extensive 20,000 plus metre drilling program has delivered a 36% increase in Indicated resources, and a significant increase in tonnage of the Jervois resource. The new resource will form the basis of an optimised PFS expected to be completed in October.
Assays are currently pending from drilling at the Red Bore and Curara Well projects in the prospective Doolgunna region. The company is also planning to start drilling at the Ox-Eyed Herring / Tarpon prospects in the Northern Territory.
U.S. stocks halted the five-day losing streak today, as investors looked past softer economic reports and a continued rout in China’s stock market, and waited for the outcome of the two-day Federal Reserve.
The ASX SPI 200 is 23 points to 5565.
The latest assays confirm the presence of significant zones of graphitic mineralisation at the Cascade and Epanko prospects. News flow will continue to be strong over coming weeks, with both drilling and trenching results.
Drilling of key targets at the Native Companion copper-gold project in the famed Mount Isa region is expected to start in the first week of August. This is part of the company’s efforts to explore and transform into a mid-tier copper producer .
Today’s funding, plus the award of $5 million in court costs along with $9 million due from the exercise of options, puts Axiom in an enviable financial position.
There is potential for more gold and base metal discoveries at Mount Garnet where the company is earning an initial interest of 51% from Snowmist. The region contains several large historic and active gold mines including Kidston, Mt Leyshon and Red Dome-Mungana.
The licensing agreement with Lasta Multimedia could generate revenues of between $100,000 and $350,000 per annum. It adds to recent multiple agreements signed by the company.
More than 1,200 local residents have held a pro-development rally to back the Lobo Municipal Council’s support of the development of the Batangas gold project. It is now proceeding through the final stages of approval by the central Philippines Government.
Alkane's Tomingley produced 69,612 gold ounces during FY15 - within guidance. Cash flow was an impressive $23.7M. Funds have been allocated to the Dubbo Zirconia Project for feasibility and engineering studies. This funding strategy is non-dilutive to shareholders.
The company is focused on finalising the Environmental and Social Impact Assessments through the third quarter of 2015. This will be followed by the application for a mining licence.
Licensing of the Newzulu Platform and Newzulu Live products could generate between A$600,000 and A$1,500,000 per annum in revenue that could begin within 12 weeks. The agreement is Newzulu’s second with a major Australian media company.