Australia

Mako Gold pushes forward with drilling program at Napié Project after positive results in June quarter

Mako Gold Ltd (ASX:MKG) has enjoyed a productive June quarter undertaking exploration at its flagship Napié Project in Côte dIvoire.

The company began a 10,000 metre, 90-hole reversed circulation and diamond drill program on the project and to date have received assays for the first five holes.

The majority of the drilling will occur at the Tchaga Prospect located along a 23 kilometre long +40 parts per billion gold soil/auger (yellow/green) anomaly coincident with a +30 kilometre-long shear zone – thought to be a major control for gold mineralisation.

The Tchaga Prospect is only one of four prospects identified from drilling by Mako to date.

The companys short-term goal is to outline a JORC-compliant resource on Tchaga and and continue drilling on the other prospects with the aim of adding to a potential resource.

Tchaga drill results[hhmc]
Drill intersections received from the first five holes of the program include:

14 metres at 5.46 g/t from surface, including 5 metres at 11…

Mako Gold Ltd (ASX:MKG) has enjoyed a productive June quarter undertaking exploration at its flagship Napié Project in Côte dIvoire.

The company began a 10,000 metre, 90-hole reversed circulation and diamond drill program on the project and to date have received assays for the first five holes.

The Tchaga Prospect is only one of four prospects identified from drilling by Mako to date.

The companys short-term goal is to outline a JORC-compliant resource on Tchaga and and continue drilling on the other prospects with the aim of adding to a potential resource.

Tchaga drill results

Drill intersections received from the first five holes of the program include:

14 metres at 5.46 g/t from surface, including 5 metres at 11.28 g/t from surface (NARC124);
3 metres at 2.35 g/t from 17 metres (NARC124);
7 metres at 1.45 g/t from 56 metres (NARC124);
9 metres at 4.08 g/t from 80 metres, including 2 metres at 9.47 g/t from 83 metres (NARC124), and;
8 metres at 1.59 g/t from 93 metres.

Hole NARC121 returned 5 metres at 1.06 g/t from 7 metres, and 4 metres at 1.33 g/t from 69 metres.

The drilling program will continue through to December 2020.

$3.25 million capital raising

The company recently competed an oversubscribed, two tranch placement to raise $3.25 million.

The placement comprised the issue of 65 million new fully paid ordinary shares in Mako at an issue price of 5 cents per share.

Tranche one of the placement (completed during the quarter), comprised of about 11.3 million new shares (for around $0.60 million), was not subject to shareholder approval and fell within the companys placement capacity under ASX Listing Rule 7.1 and 7.1A.

Tranche two of the placement (completed subsequent to the end of the quarter), comprised 53.7 million new shares (for around $2.68 million), was issued following receipt of shareholder approval at a General Meeting held on 7 July 2020.

Mako's project locations

Sale of Niou project

During the quarter Mako signed a binding term sheet and a definitive sale agreement to sell its Niou Project in Burkina Faso to Nordgold SE.

Nordgold is an international gold miner which produces 1 million ounces of gold per year from 10 mines (5 in Russia, 3 in Burkina Faso and one each in Guinea and Kazakhstan) and has an operating mine within 50km of the Niou Project – making them an ideal operator forRead More – Source

Proactiveinvestors

Australia

THC Global plans to accelerate medicinal cannabis production on back of strong June quarter

THC Global Group Ltd (ASX:THC) reached several milestones in the June quarter, supplying its first Australian patient with Canndeo branded medicinal cannabis medicines produced at its Southport Facility.

The roll-out of the full suite of the Canndeo medicines range is continuing throughout this quarter and will see the launch of eight new medicine formulations for Australian patients.

THC is also preparing for its maiden export of Canndeo branded medicines to Europe and Canada, with supply expected to commence in quarter three for Canada and quarter four for Europe.

New Zealand exports[hhmc]
In addition to medicinal cannabis sales under the Canndeo brand, THC is now a manufacturer for both Cannatrek and Medleaf Therapeutics.

Under the agreements with Cannatrek and Medleaf, THC will produce and white-label cannabis medicines under those respective brands for sale in the Australian and New Zealand market.

The initial export order to New Zealand worth $260,000 is expected to be deliv..

The roll-out of the full suite of the Canndeo medicines range is continuing throughout this quarter and will see the launch of eight new medicine formulations for Australian patients.

THC is also preparing for its maiden export of Canndeo branded medicines to Europe and Canada, with supply expected to commence in quarter three for Canada and quarter four for Europe.

New Zealand exports

In addition to medicinal cannabis sales under the Canndeo brand, THC is now a manufacturer for both Cannatrek and Medleaf Therapeutics.

Under the agreements with Cannatrek and Medleaf, THC will produce and white-label cannabis medicines under those respective brands for sale in the Australian and New Zealand market.

The initial export order to New Zealand worth $260,000 is expected to be delivered by the company in October.

Tetra Health

The Companys newly acquired clinic network, Tetra Health, has seen significant growth since acquisition with an increase of over 30% in patient enquiries in June alone.

Tetra Health is a key strategic asset for the company in seeking to bridge the affordability gap for cannabis medicines in Australia by providing low cost of access for new patients and product-independent guidance on medicines.

Hydroponics equipment

As announced in early July, the companys hydroponics equipment and cultivation solutions provider achieved its maiden $3 million unaudited half-year trading revenue milestone in June 2020, with total first half 2020 unaudited revenue reaching $3.2 million, being around a 50% increase over the prior period.

The launch of new product and service offerings targeted at the micro-cultivator and home-cultivator sectors through the year is expected to drive further revenue growth.

Difficulties in sourcing and transporting of merchandise from major Asian manufacturing hubs experienced in quarter one due to COVID-19 appear to have partially subsided over quarter two.

As the company noted in its quarter one update, these delays have affected the timing of cash receipts from customers but is unlikely to significantly affect revenue over a longer time scale given pending customer orders are fulfilled as stock is landed in Canada.

THC is preparing for its maiden export of Canndeo branded medicines to Europe and Canada

$8.1 million capital raising

During the quarter, the company completed an institutional placement to raise $6.6 million and a subsequent share purchase plan which raised a further $1.5 million, taking the total capital raised to $8.1 million at 30 cents per share.

Funds will be primarily applied towards enhancing the THCs working cRead More – Source

Proactiveinvestors

Australia

Yandal Resources completes shortfall in $3.3 million non-renounceable rights issue

Yandal Resources Ltd (ASX:YRL) has issued the remaining shortfall shares under the 1 for 5 non-renounceable pro-rata rights issue to raise a total of $3.3 million before costs.

On June 12, the company directors announced a pro-rata non-renounceable rights offer to accelerate the Gordons project as well as the Mt McClure project in Western Australia.

Under the rights issue, eligible shareholders were offered the opportunity to acquire one new share for every five shares held at the record date on June 17 at an issue price of 25 cents per new share.

A total of 1.32 million shortfall shares have now been issued for $330,000

Exploration well-funded[hhmc]
The company plans to progress the feasibility study at its Flushing Meadows prospect at the Ironstone Well Project in the September quarter.

Exploration will also continue at the Gordons Dam prospect.

Yandal is well funded for drill programs which were postponed in the June quarter and will be completed in the September quarter.

The..

Yandal Resources Ltd (ASX:YRL) has issued the remaining shortfall shares under the 1 for 5 non-renounceable pro-rata rights issue to raise a total of $3.3 million before costs.

On June 12, the company directors announced a pro-rata non-renounceable rights offer to accelerate the Gordons project as well as the Mt McClure project in Western Australia.

A total of 1.32 million shortfall shares have now been issued for $330,000

Exploration well-funded

The company plans to progress the feasibility study at its Flushing Meadows prospect at the Ironstone Well Project in the September quarter.

Exploration will also continue at the Gordons Dam prospect.

Yandal is well funded for drill programs which were postponed in the June quarter and will be completed in the September quarter.

These include:

21 AC holes for 2,500 metres at the Flushing Meadows North prospect;
6 AC holes for 720 metres at the Flushing Meadows South prospect;
3 RC holes for 200 metres Read More – Source

Proactiveinvestors

Australia

Nanoveu in back-to-back trading halts ahead of capital raising news

Nanoveu Ltd (ASX:NVU) has been granted back-to-back trading halts by the ASX pending a capital raising announcement.

The trading halt will be in place until the announcement is made or the start of normal ASX trading on Friday, August 7, whichever occurs sooner.

Distribution agreements [hhmc]
Nanoveu recently signed distribution agreements for its antiviral protection products for the Thai and Malaysian markets with Sanyo Trading Company Ltd.

Through these agreements, Sanyo will look to leverage its extensive contacts in the Asia-Pacific region to distribute several Nanoveus products to groups including hospitals, banks, schools and shopping malls.

Nanoveu will ship its business to business (B2B) rolls of antiviral film – to be applied to an increasing number of surfaces – in addition to its consumer-focused antiviral mobile phone cases and doorRead More – Source

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Proactiveinvestors
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Nanoveu Ltd (ASX:NVU) has been granted back-to-back trading halts by the ASX pending a capital raising announcement.

The trading halt will be in place until the announcement is made or the start of normal ASX trading on Friday, August 7, whichever occurs sooner.

Distribution agreements

Nanoveu recently signed distribution agreements for its antiviral protection products for the Thai and Malaysian markets with Sanyo Trading Company Ltd.