The U.S. Department of Defense has once again given a very strong signal to the commercial Fire Retardant industry that it holds Alexium’s FR treatments in very high regard and worthy of procurement / R&D contracts. Proactive Investors believe this will help expedite commercial contracts for Alexium’s range of FR products.
The Batangas Gold Project is now funded until initial development following the signing of a strategic financing partnership. The deal represents a “see-through” valuation for 100% of Batangas of around A$13.4M, more than three times the current market cap. of Red Mountain.
With the survey now completed, Legend can now review all exploration data in order to plan follow up exploration programs for 2015. The company is well-funded with total cash, security deposits and other liquid assets being $10.6M at the end of September 2014.
MZI Resources has received US$37.5M from RCF and has commenced development of the Keysbrook Mineral Sands Project. The project is on the path to first production forecast for December 2015, with cashflows to follow soon after.
U.S. stocks finished significantly higher on Monday, posting their fourth straight day of gains with the S&P 500 and the Dow closing at record highs, continuing last week's Fed-sparked rally. Oil and gold fell. The ASX SPI 200 is off ten points to 5399.
Shares in Latin Resources are expected to lift after it discovered copper mineralisation continues over 1.1kms of strike at the Ilo Este project. This potentially points to a large copper porphyry system. The company is already in discussions with a number of potential partners.
Alexium enters 2015 in a strong position with increasing recurring revenues and sales growth, low cash costs and over $5m in cash. The market is moving towards the company's cost effective environmentally friendly FR solutions as bromine is replaced in consumer products and the Defense sector. Shares are expected to trade higher.
Segue Resources will move to 100% of Plumridge East JV after entering into an unconditional agreement to acquire Fraser Range Metals Group interest. Plumridge is located on the same Fraser Range gravity high as the Nova-Bollinger nickel and copper deposit. Exploration is underway.
The Queensland Government Department of Environment and Heritage Protection's appointed external consultant has finished its review of the Company’s Decommissioning Report and Rehabilitation Plan for Carbon Energy's Blue Gum Gas project in the Surat Basin.
South Boulder continues to advance the Colluli Potash Project, and has now finalised the open cut mining method which offers capital and operating cost advantages. All inclusive mining costs forecast at $3.29 per tonne of material mined. The PFS is expected to be completed in February 2015.
Discussions are underway with a number of potential funders to finance the Matilda Gold Project through feasibility and into production. Operations at the 4.4 million ounce project could be restarted in late 2015. Initial Capex is estimated at $24.6 million.
The first hole at the Kabikupa prospect has intersected 17.4 metres at 1.18% copper. Assays from the remaining three wells are pending. Drilling at the Lumwana West Copper Project in Zambia with Antofagasta will resume in April/May 2015 at the onset of the 2015 dry season.