Major banks have helped the ASX200 rise 0.1% to 5,101.5 points.
This company made gains after confirming multiple occurrences of nickel sulphide mineralisation at its project.
The discovery of a high grade copper vein points either to leakage from a major copper sulphide deposit or a more extensive vein system. More exploration will be carried out to identify the presence of copper sulphide mineralisation underlying existing targets.
Avalon remains on-schedule to deliver a new resource estimate for Viscaria in Sweden in November followed by an updated scoping study that will consider a copper-only production scenario.
Final assays from diamond drilling have identified more nickel sulphides at the Desert Dragon Central prospect. Further surveys will determine the exact choice of targets for the reverse circulation drilling program that will commence this month.
The increase in recoveries is expected to have a significant positive impact on the project’s sales revenue, EBITDA and EBITDA margin. Keysbrook has been projected to generate EBITDA of A$39.9 million in its first full year of production, representing an EBITDA margin of about 50%.
The drill program at Broken Hill will follow up its discovery of some of the highest grades of platinum ever reported in Australia in Broken Hill. Andrew Forrest's Squadron Resources is a cornerstone shareholder.
JIWON Resource Corp will earn up to 75% in Exploration Permit 009 by spending US$2 million in exploration over a three year period. This targets large copper-gold systems at no initial cost to Red Mountain.
The company has defined an Exploration Target at the Pintanos of base case 1.04 billion tonnes at 11.5% K2O that demonstrates its project options beyond the flagship Muga Potash Project. Drilling is expected to commence in the fourth quarter of this year.
Whilst the tin-copper orebody is a globally significant tin deposit, the tungsten porphyry deposit is a potential Tier 1 strategic metal asset that is double the grade of Wolf's Hemerdon tungsten and tin project which recently entered production.
Abundant visible gold has been panned from a rich outcrop at the Southern Gold Zone of the Aucu deposit. This extends the SGZ to at least 2,500 metres, with three major mineral systems providing potential to host a very large gold resource.
Receipt of the German Government loan guarantee meets the first important condition for the company to receive an UFK guarantee, which provides lenders insurance against commercial and political risk. KfW IPEX-Bank is assessing lending for the Epanko Project.
Admedus has received an Add rating from broker Morgans, with a target of $0.18. Based on the last price of $0.074, the target implies the potential for a 140.9% upside.