KGL Resources continues to deliver high grade results from its extensive drilling program at Jervois. The latest assays will further add to the forthcoming resource upgrade due late-August. A PFS will follow in September.
South Boulder has reinvigorated the Colluli Potash project with a ramp up of activity – particularly in the last quarter. This follows scoping work completed in late 2013 which considered processing all potassium bearing salts. The company's shares are expected to open firmer.
The reporting action is set to ramp up this week, with over 140 S&P 500 components set to announce results. Gold is steady and oil eased. The ASX SPI 200 is off seven points to 5522.
Results back from trial pitting at Spectrum Rare Earth’s Skyfall Magnetic End Use Rare Earth Prospect in the Northern Territory show an improving grade profile. Skyfall has one of the highest distribution of Magnetic Rare Earths when compared to other rare earth prospects around the world.
Providing a major vote of confidence in the development pathway, MacPhersons chairman will subscribe for up to $1M in shares while Orion Mine Finance has committed to $6.5M. Funds will complete the BFS in the December quarter 2014.
The agreement to acquire the Bear Head LNG project in Nova Scotia, Canada, from Anadarko Petroleum Corporation for US$11 million will diversify and reduce risk for Liquefied Natural Gas Limited in the North American LNG sector. Previous work by Anadarko is expected to result in lower development costs and faster approvals compared to Magnolia LNG.
The final reverse circulation assays for Kibaran at Epanko are the best ever, and included 53m at 14.0% TGC. The JORC upgrade is close to completion. Diamond drilling will commence shortly to further optimise the processing flowsheet.
Phase 1 drilling at Nicanda Hill in Mozambique has further defined and expanded the multiple high grade graphite zones present. Phase 2 drilling will focus on testing the continuity of these zones.
The submission of a Pre-Feasibility Study to the National Housing Company of Malaysia for the Penor township by late August 2014 provides the next milestone for Platinum JV Developments Sdn Bhd and Soil Sub Technologies.
The new exploration licenses awarded through a recent tenement ballot further increase Legend's exposure in the Fraser Range, and with exploration programs coming up, news flow is set to increase. The company also holds 1.5 million Sirius Resources shares. Mark Creasy is the largest shareholder in Legend with around 25%.
With its maiden positive operating cash flows of $4.1 million in the June quarter, Base Resources is now solidly in the ranks of mineral sands producers. Further improvements are expected from its Kwale Mineral Sands operation in Kenya.
With sales of its sleep apnea products growing across Europe and the U.S., SomnoMed is raising up to $7.05 million through a $5.55 million share placement and a share purchase plan of up to $1.5 million to double production capacity at its plant.