Connect with us

Australia

Australian Mines begins low-cost RC drilling at Thackaringa project near Broken Hill

Australian Mines Ltd (ASX:AUZ) has begun drilling designed to test high-priority base metal targets at the Thackaringa project near Broken Hill in Far West NSW following an airborne Versatile Time Domain Electromagnetic (VTEM) survey.

The VTEM survey, commissioned by Australian Mines, was conducted over its entire Thackaringa project area in 2017 and revealed nine separate anomalies.

Of these anomalies, Target A1 and Target A5 in the northern section of the tenement were classified as high-priority targets by two separate and independent consulting firms, Mitre Geophysics and Newexco Exploration, who concluded these targets represent areas of potential base metal mineralisation that warrant follow-up drill testing.

This drill program is anticipated to take up to three weeks to complete

Target A1 first-up[hhmc]
A low-cost reverse circulation drilling program is underway at Target A1 to verify the presence of base metal mineralisation, which is expected to take up to three weeks.

Ma..

Australian Mines Ltd (ASX:AUZ) has begun drilling designed to test high-priority base metal targets at the Thackaringa project near Broken Hill in Far West NSW following an airborne Versatile Time Domain Electromagnetic (VTEM) survey.

The VTEM survey, commissioned by Australian Mines, was conducted over its entire Thackaringa project area in 2017 and revealed nine separate anomalies.

Of these anomalies, Target A1 and Target A5 in the northern section of the tenement were classified as high-priority targets by two separate and independent consulting firms, Mitre Geophysics and Newexco Exploration, who concluded these targets represent areas of potential base metal mineralisation that warrant follow-up drill testing.

This drill program is anticipated to take up to three weeks to complete

Target A1 first-up


A low-cost reverse circulation drilling program is underway at Target A1 to verify the presence of base metal mineralisation, which is expected to take up to three weeks.

Managing director Benjamin Bell said: “It is too early to speculate on what type of conductive source may be causing the high priority anomalies at Thackaringa.

“It is, however, important to continue with our drilling and exploration activity at this project, which is relatively low cost, as we look to unlock further value for our shareholders.”

The projects proximity to the regional mining town of Broken Hill, where mining major BHP originated mining the supergiant Broken Hill lead-zincRead More – Source

Continue Reading

Australia

S&P/ASX 200 remains flat as banks and miners weigh on the market

S&P/ASX 200 (INDEXASX:XJO) is flat at 5965 points by around 1.55 pm following a 1.5% surge on Friday and a strong lead from Wall Street.

The number of new COVID-19 cases in Australia continues to decline, with just five new cases identified in Victoria and no new cases for the second day in NSW.

Travel stocks including Webjet (ASX:WEB), Flight Centre (ASX:FLT) and Qantas (ASX:QAN) gained due to encouraging developments around COVID-19.

However, the major banks are down by as much as 1% following gains of between 3% to 7.4% on Friday after the Federal Government revealed plans to ease responsible lending rules which were introduced in 2009.

Top gainers[hhmc]
Todays top gainers on the ASX include FYI Resources Ltd (ASX:FYI) (+26.32%), Pharmaxis Ltd. (ASX:PXS) (+9.52%), Cauldron Energy Ltd (ASX:CXU) (+26.32%), Golden State Mining Ltd (ASX:GSM) (+9.30%), Macarthur Minerals Ord Shs (ASX:MIO) (+18.10%), Andromeda Metals Ltd (ASX:AND) (+9.68%), Vrx Silica Ltd (ASX:VRX) (+10.71%) and Piedm..

S&P/ASX 200 (INDEXASX:XJO) is flat at 5965 points by around 1.55 pm following a 1.5% surge on Friday and a strong lead from Wall Street.

The number of new COVID-19 cases in Australia continues to decline, with just five new cases identified in Victoria and no new cases for the second day in NSW.

Travel stocks including Webjet (ASX:WEB), Flight Centre (ASX:FLT) and Qantas (ASX:QAN) gained due to encouraging developments around COVID-19.

However, the major banks are down by as much as 1% following gains of between 3% to 7.4% on Friday after the Federal Government revealed plans to ease responsible lending rules which were introduced in 2009.

Top gainers


Todays top gainers on the ASX include FYI Resources Ltd (ASX:FYI) (+26.32%), Pharmaxis Ltd. (ASX:PXS) (+9.52%), Cauldron Energy Ltd (ASX:CXU) (+26.32%), Golden State Mining Ltd (ASX:GSM) (+9.30%), Macarthur Minerals Ord Shs (ASX:MIO) (+18.10%), Andromeda Metals Ltd (ASX:AND) (+9.68%), Vrx Silica Ltd (ASX:VRX) (+10.71%) and Piedmont Lithium Ltd (ASX:PLL) (+53.33%).

Proactive news headlines:

MGC Pharmaceuticals expands ArtemiC™ phase II clinical trial on COVID-19 patients in Israel and India


MGC Pharmaceuticals Ltd (ASX:MXC) has expanded a phase II double-blind, placebo-controlled clinical trial to evaluate the safety and efficacy of the natural anti-inflammatory formulation ArtemiC™ on patients diagnosed with COVID-19.

Fe Limited appoints experienced iron ore executive to drive new projects into production


Fe Limited (ASX:FEL) (FRA:B4T) has appointed an experienced iron ore executive as projects director to help drive the companys two new iron ore asset acquisitions into production.

Blue Star Helium acquires strategically significant acreage within highly prospective region of Colorado


Blue Star Helium Ltd (ASX:BNL) (OTCMKTS:AZZEF) has acquired an additional 22 new leases over 34,848 gross acres within the highly prospective Las Animas region in Colorado, USA.

Core Lithium returns visible gold and grades over 100 g/t in rock chips at Bynoe Gold Project


Core Lithium Ltd (ASX:CXO) has received gold grades of up to 106.5 g/t and observed visible gold in rock chips at the newly defined Covidicus West prospect of the Bynoe Gold Project in the Northern Territory.

Paradigm Biopharmaceuticals has clear path towards Zilosul® OA Phase 3 clinical trial and product registration in Europe


Paradigm Biopharmaceuticals Ltd (Read More – Source

Continue Reading

Australia

Piedmont Lithium soars 84% on signing Tesla spodumene agreement

Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) has soared to a new 13-year high after forging a binding agreement with Tesla Inc (NASDAQ:TSLA) for the supply of spodumene concentrate from the companys North Carolina deposit.

The agreement is for an initial five-year term on a fixed price binding purchase commitment from the delivery of first product and covers a fixed commitment representing around 33% of the companys planned annual spodumene production of 160,000 tonnes.

This arrangement may also be extended by mutual agreement for a second five-year term.

Shares have been as much as 84% higher to A$0.275 intra-day on the ASX, a new 13-year high for the company, on strong volume of more than 54 million.

“First US domestic lithium supply chain”[hhmc]
PLL president and CEO Keith D Philips said: “We are excited to be working with Tesla, which represents the start of the first US domestic lithium supply chain and a disruption to the current value chain.

“The agreement highlights the str..

Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) has soared to a new 13-year high after forging a binding agreement with Tesla Inc (NASDAQ:TSLA) for the supply of spodumene concentrate from the companys North Carolina deposit.

The agreement is for an initial five-year term on a fixed price binding purchase commitment from the delivery of first product and covers a fixed commitment representing around 33% of the companys planned annual spodumene production of 160,000 tonnes.

This arrangement may also be extended by mutual agreement for a second five-year term.

Shares have been as much as 84% higher to A$0.275 intra-day on the ASX, a new 13-year high for the company, on strong volume of more than 54 million.

“First US domestic lithium supply chain”


PLL president and CEO Keith D Philips said: “We are excited to be working with Tesla, which represents the start of the first US domestic lithium supply chain and a disruption to the current value chain.

“The agreement highlights the strategic importance of Piedmonts unique American spodumene deposit and confirms the trend toward spodumene as the preferred feedstock for the lithium hydroxide required in high-nickel batteries.

“Piedmont will now accelerate our mine and concentrator development to support Teslas plans, work to further expand our mineral resources and potentially increase our planned annual spodumene contrate production capacity.

“We will simultaneously be advancing our plans to produce lithium hydroxide in North Carolina using a combination of internally produced spodumene concentrate as well as material sourced from other producers around the world.”

The agreement is conditional upon Tesla and Piedmont agreeing to a start date for spodumene concentrRead More – Source

Continue Reading

Australia

Buru Energy ships 71,038 barrels of oil under new marketing agreement with BP Singapore

Buru Energy Limited (ASX:BRU) completed the latest lifting of Ungani crude from the CGL storage Tank 10 at Wyndham Port on September 26, 2020, by the Anichkov Bridge oil tanker.

Anichkov Bridge lifted a total of 71,038 barrels gross with Burus share being 50%. The previous lifting of 74,819 barrels gross was completed on July 16, 2020.

Production between the two liftings was impacted by production downtime required to install an electric submersible pump (ESP) in the Ungani 7 well.

New marketing agreement with BP[hhmc]
The latest lifting was the first under the new marketing agreement with BP Singapore Pte Limited (BP).

BP has purchased the crude free on board (FOB) Wyndham and will deliver it to a refinery in South East Asia.

Under the marketing contract, the price received will be the actual price BP sold the crude to the refinery (a fixed differential to the average dated Brent price for the month of October), less shipping and associated costs.

Under these terms Burus 50% rev..

Buru Energy Limited (ASX:BRU) completed the latest lifting of Ungani crude from the CGL storage Tank 10 at Wyndham Port on September 26, 2020, by the Anichkov Bridge oil tanker.

Anichkov Bridge lifted a total of 71,038 barrels gross with Burus share being 50%. The previous lifting of 74,819 barrels gross was completed on July 16, 2020.

Production between the two liftings was impacted by production downtime required to install an electric submersible pump (ESP) in the Ungani 7 well.

New marketing agreement with BP


The latest lifting was the first under the new marketing agreement with BP Singapore Pte Limited (BP).

BP has purchased the crude free on board (FOB) Wyndham and will deliver it to a refinery in South East Asia.

Under the marketing contract, the price received will be the actual price BP sold the crude to the refinery (a fixed differential to the average dated Brent price for the month of October), less shipping and associated costs.

Under these terms Burus 50% revenue share from the lifting is estimated at between A$1.6 million and A$1.7 million, with the price finalised at the end of October.

Current field production is about 1,200 barrels of oil per day and the next lifting is expected to be in late November.

Ungani Far West 1 operations


RecompletiRead More – Source

Continue Reading

Trending