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Venus Metals commences Supreme Court proceedings regarding Penny West acquisition

Venus Metals Corporation Limited (ASX:VMC) has commenced proceedings in the Supreme Court of Western Australia in relation to Zebra Minerals acquisition of the Penny West Gold Project.

The proceedings are against Spectrum Metals Ltd (ASX:SPX), DJ Carmichael Pty Limited, Paul Adams and Davide Bosio, as well as Spectrums wholly-owned subsidiary Zebra Minerals Pty Ltd.

VMC alleges breaches of fiduciary duty, breaches of confidence and misuse of information that the company provided to Mr Bosio and Mr Adams of DJ Carmichael in July and August 2018.

Shares up 45%
The companys shares were up more than 45% to an intra-day high of 24 cents.

Venus Metals managing director Matthew Hogan said, “The Venus Metals Board has carefully considered the best interests of shareholders before initiating this litigation and will request that the Court hears the matter at the earliest opportunity.”

Company statement
In a company statement, Venus Metals wrote: “The information provided to Mr Bosio and Mr..

Venus Metals Corporation Limited (ASX:VMC) has commenced proceedings in the Supreme Court of Western Australia in relation to Zebra Minerals acquisition of the Penny West Gold Project.

The proceedings are against Spectrum Metals Ltd (ASX:SPX), DJ Carmichael Pty Limited, Paul Adams and Davide Bosio, as well as Spectrums wholly-owned subsidiary Zebra Minerals Pty Ltd.

VMC alleges breaches of fiduciary duty, breaches of confidence and misuse of information that the company provided to Mr Bosio and Mr Adams of DJ Carmichael in July and August 2018.

Shares up 45%

The companys shares were up more than 45% to an intra-day high of 24 cents.

Venus Metals managing director Matthew Hogan said, “The Venus Metals Board has carefully considered the best interests of shareholders before initiating this litigation and will request that the Court hears the matter at the earliest opportunity.”

Company statement

In a company statement, Venus Metals wrote: “The information provided to Mr Bosio and Mr Adams included information about Penny West and the companys proposed acquisition of Penny West.

“The company provided the information to Mr Bosio in his capacity as a director of DJ Carmichael and to Mr Adams in his capacity as Technical Adviser to DJ Carmichael. Venus Metals and DJ Carmichael signed a Confidentiality Deed. At that time, both Mr Bosio and Mr Adams were also directors of Spectrum.

“Spectrum, including Mr Adams, then undertook negotiations to acquire Penny West and Spectrum announced that it had entered into an agreement to acquire Penny West in October 2018.

“The company claims a constructive trust over Penny West, such that Penny West is held for the benefit of Venus Metals and its shareholders, alternatively that the other parties account to Venus Metals for the benefits they have obtained and damagesRead More – Source

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Australia

Galileo Mining to present emerging Fraser Range story during Share Café Nickels New Wave Webinar today

Galileo Mining Ltd (ASX:GAL) managing director Brad Underwood will present the company's emerging Fraser Range nickel story at Share Café Nickels New Wave Webinar today at 12 noon AWST (2pm AEST).

Underwood will discuss the companys exploration programs underway at the Fraser Range Joint Venture (JV) Project with prominent regional player Creasy Group in Western Australia.

In March, the company identified nickel prospective rocks beneath shallow cover at the project.

The drilling results, combined with magnetic data showed three intrusions which have been named Think Big, Backwood and Green Moon.

These intrusions have the potential to host magmatic nickel mineralisation under shallow cover rock ranging from 17 metres to 92 metres below surface.

Nickel companies to be showcased[hhmc]
The free webinar today can be viewed live through Zoom over the internet and will provide viewers with the opportunity to hear from and engage with a range of emerging ASX-listed nickel exploratio..

Galileo Mining Ltd (ASX:GAL) managing director Brad Underwood will present the company's emerging Fraser Range nickel story at Share Café Nickels New Wave Webinar today at 12 noon AWST (2pm AEST).

Underwood will discuss the companys exploration programs underway at the Fraser Range Joint Venture (JV) Project with prominent regional player Creasy Group in Western Australia.

In March, the company identified nickel prospective rocks beneath shallow cover at the project.

The drilling results, combined with magnetic data showed three intrusions which have been named Think Big, Backwood and Green Moon.

These intrusions have the potential to host magmatic nickel mineralisation under shallow cover rock ranging from 17 metres to 92 metres below surface.

Nickel companies to be showcased


The free webinar today can be viewed live through Zoom over the internet and will provide viewers with the opportunity to hear from and engage with a range of emerging ASX-listed nickel exploration companies.

It will comprise 15-minute presentations plus a Q and A session.

Legend Mining Ltds (ASX:LEG) managing directoRead More – Source

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Australia

Musgrave Minerals shines after hitting 12 metres at 112.9 g/t gold near-surface at Starlight

Musgrave Minerals Ltd (ASX:MGV) surged to a record high after hitting 12 metres at 112.9 g/t gold near-surface in reverse circulation (RC) drilling at Starlight discovery within the flagship Cue Gold Project in Western Australia.

This bonanza-grade intersection from 36 metres included 6 metres at 143 g/t from 42 metres and the company is also buoyed by other high-grade results returned from the first 12 RC holes of the current campaign.

Shares have jumped more than 87% on the previous close to a new all-time high of 29 cents on strong early volume of more than 24 million.

Open-pit potential enhanced[hhmc]
Managing director Rob Waugh said: “This is a great start to the program and confirms the current model extending the mineralisation both up-dip where it approaches the surface and down-dip where it remains open.

“The bonanza high-grade, near-surface mineralisation will enhance the open-cut development potential of the deposit while the deeper mineralisation will enhance the underg..

Musgrave Minerals Ltd (ASX:MGV) surged to a record high after hitting 12 metres at 112.9 g/t gold near-surface in reverse circulation (RC) drilling at Starlight discovery within the flagship Cue Gold Project in Western Australia.

This bonanza-grade intersection from 36 metres included 6 metres at 143 g/t from 42 metres and the company is also buoyed by other high-grade results returned from the first 12 RC holes of the current campaign.

Shares have jumped more than 87% on the previous close to a new all-time high of 29 cents on strong early volume of more than 24 million.

Open-pit potential enhanced


Managing director Rob Waugh said: “This is a great start to the program and confirms the current model extending the mineralisation both up-dip where it approaches the surface and down-dip where it remains open.

“The bonanza high-grade, near-surface mineralisation will enhance the open-cut development potential of the deposit while the deeper mineralisation will enhance the underground potential.”

The RC drilling program at Starlight link-lode within the Break of Day deposit, which is now 60% complete, consists of more than 36 holes for around 7,000 metres and all intersections returned sit outside the current 199,000-ounce resource.

High-grades


Other strong results:

  • 48 metres at 4.4 g/t from 30 metres, including 4 metres at 41.8 g/t from 30 metres and 2 metres at 13.5 g/t from 76 metres;
  • 7 metres at 13.7 g/t from 114 metres including 4 metres at 22.9 g/t from 116 metres;
  • 6 metres at 5.7 g/t from 81 metres; and
  • 6 metres at 5.2 g/t from 176 metres.

All 6-metre composite samples above 0.1 g/t gold will be re-submitted for individual 1-metre sample analysis.

Ongoing exploration


Follow-up drilling on the new Starlight link-lode at Break of Day is underway, with additional assays expected within the next two weeks.

A diamond drillinRead More – Source

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Medlab Clinical receives first three batches of NanaBis™ from Tasmanian Alkaloids

Medlab Clinical Ltd (ASX:MDC) has received the first shipment of NanaBis, the company's patented cannabis-based medicine, from Tasmanian Alkaloids Pty Ltd (TASALK).

In line with a commercial agreement executed in January, NanaBis production and analytical services have been transferred to TASALK.

This allows for manufacturing to be ramped up, increases overall product quality and supports a stronger manufacturing compliance for the Australian Therapeutic Goods Administration, US Food and Drug Administration and the European Medicines Agency.

“Continues to grow”[hhmc]
Medlab chief executive officer Dr Sean Hall said: “With the recent launch of the Observational Study and successful completion of the Phase 2 Advanced Cancer Pain Trial at Royal North Shore Hospital, demand for NanaBis continues to grow.

“Being able to partner with TASALK is very exciting and allows Medlab to increase production capacities drastically over the short-term and therefore to meet increased demand.”

I..

Medlab Clinical Ltd (ASX:MDC) has received the first shipment of NanaBis™, the company's patented cannabis-based medicine, from Tasmanian Alkaloids Pty Ltd (TASALK).

In line with a commercial agreement executed in January, NanaBis™ production and analytical services have been transferred to TASALK.

This allows for manufacturing to be ramped up, increases overall product quality and supports a stronger manufacturing compliance for the Australian Therapeutic Goods Administration, US Food and Drug Administration and the European Medicines Agency.

"Continues to grow"


Medlab chief executive officer Dr Sean Hall said: “With the recent launch of the Observational Study and successful completion of the Phase 2 Advanced Cancer Pain Trial at Royal North Shore Hospital, demand for NanaBis™ continues to grow.

“Being able to partner with TASALK is very exciting and allows Medlab to increase production capacities drastically over the short-term and therefore to meet increased demand.”

Increased demand


The company reported that March quarterly revenue was achieved for NanaBis™ with aRead More – Source

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