The Midas Touch has been anchored to the bedrock of soaring gold prices that have continued to deliver increasingly attractive development financials for Saturn’s 100% owned flagship – which made for riveting reading even before the yellow metal hit record prices in the first half of 2024.

When Saturn released its preliminary economic assessment (PEA) for the project in July last year, the metrics were already appealing at a robust A$2665/oz – subdued compared to today’s numbers hovering around record peaks at AU$3542/oz.

Under the initial calculations, Saturn had scripted a 10.5 year life of mine for the 105Mt JORC-compliant Apollo Hill resource grading 1.84Moz under a bulk tonnage heap leach production scenario.

Generating an average $90 million per annum pr- tax cash flow and $1 billion over the life of the mine, Saturn believes it can break even on capital investment within the first 2.8 years of production.

The miner has crunched the numbers based on pre-production capital of $304 million comprising $236m for a 10.0Mtpa processing facility and heap leach pad infrastructure, and, $67m for mining pre-production, other site infrastructure and accommodation.

The PEA was based on a planned mine inventory of 93.9 MT grading 0.54 g/tonne AU containing 1,6 million ounces of gold with an average strip ratio in the first two years of 1.2:1 and an average of 1:5:1 over the life of the project.

An IRR of 30% delivering an undiscounted pre-tax free cash flow of A$694m, calculated at $2,665/oz for Apollo Hill, leaps to A$1,461m at recalibrated prices of A$3300/oz.

Located in a coveted, gold-plated postal code between Kalgoorlie and Leonora, with several multi-million ounce gold deposits operating or under consideration in the area, the Apollo project comprises 31 highly prospective exploration and prospecting licences over 1000km2.

A 250m depth opencut gives the bulk tonnage project big pit status with heap leaching, which is used in almost half of the world’s large gold mining operations, recording a global average of 65% gold recovered.

Saturn could raise the bar significantly after metallurgical test work results released in May from five Apollo column leach tests crushed to a P100 size of 4mm using High Pressure Grinding Roll’s (HPGR) which delivered an average recovery of 88%.  Saturn used a coarser and arguably more conservative P100 8mm HPGR crush in its PEA economics.

“These spectacular and consistently high gold recovery results, from a representative Apollo Hill sample set, provide ongoing evidence for the application of simple, cost-effective heap leach processing at Apollo Hill,” Bamborough said.

“A thorough and persistent technical approach to our work has provided Saturn with a solid economic  foundation from which to build the future of the Apollo Hill Asset,” he added.

Saturn will now step up a level with more comprehensive feasibility studies and scaled-up test work programs.  The Company is working  on an initial pilot project at Apollo which subject to permitting, approvals and final investment decision could start the ramp up to full scale operations in 2025.

Debt-free and with a wholly owned asset at Apollo Hill, Saturn has room to manoeuvre and is chomping at the bit to get the crushers grinding their teeth on site while gold prices remain historically strong.

It would be fair to describe Bamborough as sold on gold.

At the Future of Mining Perth 2024 Conference in June, he stressed Saturn’s credentials as a “gold focussed company”, when asked why not copper?

“We’ve been gold all the way and we’ll be gold in the future,”  he told Hot Copper’s Sonia Madigan.

“I think that at AU$3520 (an ounce today), AU$855 above our preliminary economic assessment, what was a very positive economic story at that point has become incredibly exciting and because of that we are pushing hard to get the project into development.”

On that metric alone, Saturn could rest its case.

Lowell did acknowledge that with the three main PGM metals, platinum, palladium and iridium, primarily used in conventional fossil fuel engines, notably for catalytic converters, “we need to take a view on how fast the EV rollout will happen alongside the demise of internal combustion engines”.

Nevertheless, with the energy transition accelerating apace, this could be offset by emerging uses for these metals, particularly with hydrogen molecules surfacing as a “potentially huge” transport fuel creating new demand for palladium electrolysers and fuel cells.

He said the Bwengwenyama Project had not only revealed excellent geology, but also “exceptional grades” with a resource grading of 6 grams per tonne and a forecast, alluded mine head grade of 5.5 grams.

“The fabled bushveld produces the lion’s share of the world’s platinum and palladium and the grades are double the average of existing producers,” Lowell said.

From a capital outlay of US$400m, the project is aiming at producing 330,000 ounces of PGM per annum, with current global demand approximately 7 million ounces a year and a basket of PGMs fetching about US$1500 an ounce.

Talk Ya Book was created by AFL football great, Chris Judd, in 2019 as a show where fund managers could share their highest conviction investment idea but more importantly showcase their investment framework to the public.

In 2023, Chris joined the people he interviews in the world of funds management by creating the Cerutty Macro Fund. Chris is the founder and portfolio manager of the fund which looks to invest in long term, secular, macro trends.

Juddcorp Pty Ltd ACN 635 629 631 is a corporate authorised representative (CAR) (CAR Number 1300536) of Boutique Capital Pty Ltd ACN 621 697 621 AFSL 508011.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

The top two in the ASX200 last week were both healthcare stocks with Sigma gaining 12% and Telix 11%. Resources have been sad lately, but it is good to see West Africa (ASX:WAF) and Capricorn Metals (ASX:CMM) up there and some Telcos in there too.

What’s Hot this week is ScentreGroup (ASX:SCG). You would think shopping centres would be struggling, but this is looking really good as a stock. It’s been taking off the last few months. If you talk about its major low, that was back in Covid times in March 2020. Right now, this is looking good to put on your watchlist as a medium, long or short-term trader. Pretty shortly it could be a nice buy.

SCG has been trading at $3.20.

Proceed with caution is Magellan (ASX:MFG). As an $8 stock Magellan is a great stock that runs really hard when it runs. The caution comes in as we need to see the stock do a lot more to be looking at a buy potential. The upside is astronomical if it can get going and repeat the price action it produced in February 2020. This is a stock that must be on the watchlist and keep a very close eye on it because it can run…or keep going sideways for 6 months. Financials are going to be key taking the market forward into 2025-26. The next bull run is where people should be looking for stocks and this is a great stock that just needs a bit more to tell us it is going up.

MFG has been priced at $8.43 cents.

What not hot: Mineral Resources (ASX:MIN) This is the sort of stock that people fall in love with and then they hang on to it. On the chart we see a big move from the Covid low to over 700% highs, which is why people fell in I love with it and still hang on to it. They made a lot of money and are not feeling the pain yet,but should have gotten out of this stock ages ago. You need to put it to the side and wait for the price action to tell you that it wants to change its direction and character.

MIN has been trading at $54.76.

Dale Gillham is the Chief Analyst at Wealth Within and the international bestselling author of How to Beat the Managed Funds by 20%. He is also the author of Accelerate Your Wealth—It’s Your Money, Your Choice, which is available in bookstores and online at www.wealthwithin.com.au

While Wealth Within holds an Australian Financial Services License (AFSL:226347) the information featured in this program is general in nature and therefore should not be relied upon. Before making any investment decisions, you should consult a licensed professional who can advise whether your investment decisions are appropriate for you.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

In November 2023, HeraMED announced its partnership with Telstra Health’s MedicalDirector platform servicing GP and healthcare professionals as the first remote maternity solution to join the Telstra Health digital ecosystem.

The medical data and technology company, which is focused on the digital transformation of maternity care, said the initial commercial rollout will see the first group of GP clinics integrated into HeraCARE’s MedicalDirector, GP workflows,before a full launch to the larger network.

On completion of the soft launch, HeraMED anticipates a marketing expansion through Telstra Health’s GP clinics practices by the end of the 2024 calendar year.

HeraMED and Telstra Health will also jointly promote the integration of HeraMED into the Smart Connected Care ecosystem through education and marketing to existing and prospective users as part of the Smart Partner Marketing Plan.

In 2022-2023, there were around 166 million GP patient encounters in Australia. According to the Royal Australian College of General Practitioners (RACGP). RACGP, pregnancy-related problems account for 2.7% of all GP–patient encounters, and of these encounters, 89.8% are for pregnancy or antenatal care.

HeraMED CEO Anoushka Gungadin commented: “HeraCARE is a mum-centric solution and the partnership with Telstra Health allows us to expand access to care for many more mums, given the significant role GPs play in maternity, pregnancy and postpartum care.

“Following integration and commercial rollout within this new ecosystem, we are targeting the onboarding of mums through GP practices by the end of calendar year 2024.

“This aligns with the four-point plan both for commercialisation and strategic partnership while redefining how maternity care is delivered and experienced.”

HMD was trading nearly 4% up at 2.8 cents.

The clinical trial is targeting adult patients with advanced or metastatic solid tumours. The primary objective of the trial is to evaluate the safety and efficacy of onCARlytics, either by IT injection or IV infusion, either alone, or in combination with blinatumomab.

Imugene Managing Director & CEO Leslie Chong said: “We are pleased to enroll the first IV combination patient and further advance our OASIS trial, which combines our CD19 oncolytic virus with the already approved and marketed CD19 bispecific in patients with advanced solid cancers.

“While CD19 has been a powerful target for blood cancers, no such targets currently exist for solid cancers. We aspire to change that with onCARlytics,  which causes cancers to display CD19 on their cell surface so that an approved CD19 therapeutics can target and kill the cancer. “If successful, onCARlytics could open up 90 percent of the market as CD19 products are only approved in blood cancer and provide a new treatment option for patients with solid tumors.”

Imogen says OASIS is currently being conducted at three sites in the U.S., City of Hope, University of Cincinnati and the MD Anderson Cancer Center with the potential to open a total of 10 sites to recruit approximately 40-45 patients with advanced solid cancers that have spread.

In February, the first patient with bile tract cancer was dosed in the IV monotherapy arm of the trial at City of Hope in California.

Impgen said that subject to the rate of patient enrolment, preliminary early combination data is expected in the fourth quarter of 2024.

CD19 has proven a powerful target for blood cancers, which make up around 10% of all cancers. Solid cancers like breast, lung, gastric, and colon, etc. do not have a common target on their cell surface and so the goal of onCARlytics is to present a target for CD19 therapies.

onCARlytics is a CD19 oncolytic virus that enters solid tumor cells and causes them to display a marker or protein on the surface of the cancer cell called CD19, thus making the cancer cell a target for already approved CD19-targeting drugs, such as blinatumomab, that kill blood cancers with CD19 targets on their cells.

Imogen said that if successful, onCARlytics could open up 90% of the cancer market and allow CD19 therapies to become an option to treat patients with solid tumors.

IMU was trading at 5.9 cents.

The new agreement comes not a moment too soon and means that Aeon Metals will now be able to conduct exploration activities for the full 2024 dry season. The company is in the process of finalising a drill program to both increase the Walford Creek Resource whilst also targeting high grade copper across the project and surrounding tenements.

Commenting on the agreement, Aeon Executive Chair, Paul Harris, said: “The terms of the Agreement provide a strong commitment to create mutual benefits while continuing to respect the traditional lands, activities, values and the rights of the Waanyi Traditional Owners.

“We thank the  Waanyi People and the community for their support and assistance in finalising this agreement.

“Given the uniform nature of the geology along the Fish River Fault and the success of the 2022 drill program that resulted in a 65% increase in the Walford Creek JORC resource to 72.6Mt we are very confident we can replicate a similar program of resource identification and continue to grow the Walford Creek resource.

“The Company continues to assess different processing alternatives for the Walford Creek orebody including talking to key stakeholders on processing ore at Mt Isa whilst also assessing our commodity mix production.”

AML was trading flat at .006 cents.

The Perth-based explorer and producer announced today that the financing package comprised three facilities:

• A $60 million facility to refinance the existing drawn debt of $16.3 million and to provide development capital of $43.7 million for Walyering, West Erregulla and general working capital.

• A $53 million facility to support the development of South Erregulla; and

• A $40 million facility to support the development of the West Erregulla Gas Project.

Strike Energy said the facility has a 60-month tenor, capitalising interest, and a 6% coupon plus bank bill swap rate. There will be no principal repayments until 31 December 2026 after which the drawn principal amortises on a quarterly basis for the remaining term of the loan.

In the case of the South Erregulla and West Erregulla facilities, the drawdown is subject to Strike taking a final investment decision on those projects and Macquarie’s internal approvals. The

Strike’s Chief Executive Officer & Managing Director Stuart Nicholls said:

“This financing package provides the funding clarity for Strike’s Gas Acceleration Strategy made up of a series of highly attractive Perth Basin energy assets. The lowering of the company’s cost of capital is commensurate with the advanced stage and derisking of its production and development portfolio.”

STX was up 3.5% trading at 22.3cents.

The trial will evaluate the safety and efficacy of methylone, a novel rapid-acting neuroplastogen known for promoting new nerve cell growth in areas affected by PTSD, depression, and anxiety.

Emyria described its Empax Centre 1 as a “state-of-the-art facility dedicated to the delivery and evaluation of new treatments for mental health”.

The Empax Centre provides infrastructure for  the safe administration and evaluation of new medications in both clinical trial and  real-world settings.

Emyria said it will receive compensation for facilitating the trial, highlighting its value and expertise in psychological trauma care and clinical trial delivery.

Methylone, identified as TSND-201 by Transcend Therapeutics, is a novel MDMA analogue which has shown promise in rapidly activating neuroplasticity gene expression, including BDNF 2, 3, 4, which is crucial for the recovery processes in neuropsychiatric disorders.

The Phase 2 trial, titled: An Evaluation of the Safety and Efficacy of Methylone for the Treatment of PTSD, also referred to as “IMPACT-2” (Investigation of Methylone for Post-Traumatic Stress Disorder [PTSD]) will run in two parts with plans to enrol up to 79 participants across multiple sites in Australia and the United States. Participants enrolled at  Empax Center, Emyria will earn fees at market rates for specialist work performed.

EMD was trading 4.3% up at 4.8 cents.

Green Technologies said Mr Henry will lead the company progressing its North American lithium assets towards establishing an integrated lithium business.

Mr Henry is a founder and a substantial shareholder of GT1 with extensive experience in managing and operating companies in the mining sector.

Green Technologies is developing the Seymour project and preparing it for financing and a final investment decision.

Mr Henry brings over 20 years of experience in the mining industry across diverse commodities in Australia, Indonesia, North America, and South America. He was previously the founding Managing Director of Primero Group Limited and under his leadership the company expanded globally as a builder of lithium processing facilities.

“Our decision to appoint Cameron as Managing Director reflects our confidence in his experience and leadership abilities to guide the company through this critical phase.

“As GT1 prepare for critical milestones in permitting, financing and project development this year, I am confident that under Cameron’s leadership, we will successfully advance the Seymour project and continue to build an integrated lithium business in Ontario, Canada,” said GTI non-executive chairman John Young.

GT1 was trading 4% up at 7.8 cents.

This follows almost 12 months of extensive internal and external testing to ensure the highest standards of safety and effectiveness for the company’s mobility solution.

Control Bionics now has the green light to commence commercial sales of the DROVE module in Australia and said the official launch will take place in the coming weeks.

Control Bionics is a medical device company which specialises in assisting patients whose ability to communicate is compromised by conditions such as Motor Neurone Disease (MND) and Amyotrophic Lateral Sclerosis (ALS).

DROVE is designed and manufactured in Australia to provide powered wheelchair users with independence and ease of use within their own homes. The module integrates with existing wheelchair systems, enabling users to navigate their environment autonomously and safely.

CEO Jeremy Steele said: “I am delighted for our team who have worked for years to design, test and get this device registered. I am even more excited to be able to provide independence to Australians currently living with conditions that impact their ability to control their own wheelchair.”

Mr Steele added: “Work is also progressing well on a similar approval in the US with the FDA, supported by a grant from the ALS Association received earlier this year.

“We are encouraged by the revenue growth opportunity DROVE provides Control Bionics.”

CBL was trading up 44% at 6.2 cents.

The tracking device company has made a significant impact on the US market with 60 million monthly users – putting it into the top 5 among some elite company – on a journey of global expansion and growth set to encompass advertising and insurance discounts among new revenue stream options.

Liu said 10% of Life360’s US users were paying subscribers and the company was focused on converting the remainder to the paid model.

Judd asked how much growth was anticipated from the location sharing app provider. Liu said the company’s offshore growth potential was regarded as “enormous” and a two-year growth spurt of 20% seen as “still quite conservative”.

Talk Ya Book was created by AFL football great, Chris Judd, in 2019 as a show where fund managers could share their highest conviction investment idea but more importantly showcase their investment framework to the public.

In 2023, Chris joined the people he interviews in the world of funds management by creating the Cerutty Macro Fund. Chris is the founder and portfolio manager of the fund which looks to invest in long term, secular, macro trends.

Juddcorp Pty Ltd ACN 635 629 631 is a corporate authorised representative (CAR) (CAR Number 1300536) of Boutique Capital Pty Ltd ACN 621 697 621 AFSL 508011.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

The Perth based miner said an incident had occurred on Tuesday, June 18 which had “tragically resulted in the fatality of a worker on site”.

SRL Managing Director and CEO, Theuns de Bruyn extended the Company’s condolences to the family of the deceased.

“This is a very sad day for SRL and its people, and I offer the company’s deepest sympathies to our colleague’s family, friends and co-workers. Our focus is on supporting them during this trying time,” he said.

“We have launched an investigation to understand the circumstances surrounding this tragic event and will fully cooperate with the relevant authorities on the ground in Sierra Leone.”

The company said that operations at the relevant part of Area 1 had been suspended while an initial review of any safety risk is conducted.

SRX gave no further information but said it will provide further updates as and when appropriate.

SRX was down almost 4% in early trade priced at 13 cents.

This week we have a national retailer, a lifestyle retail store group and a mining service provider tipped within our respective picks of What’s Hot, Proceed with Caution and What’s Not.

What’s Hot this week is Harvey Norman (ASX:HVN), which has had periods of rises and falls. On March 24 we saw it break through and the stock ran. It’s been holding at the $4.30 level and if it breaks through, we think it could be poised for an upside around the $6.50 mark. There is talk of interest rates coming down and, if so, HVN should be in a good position selling homeware items such as carpets, computers or a new kettle.

Harvey Norman has been trading at $4.52.

Super Retail Group (ASX:SUL) is a “positive cautionary”. Coming off a 30% dip this stock has broken out into all-time highs and been expanding on the way up. It is a good example of how the market understands when a stock is changing personality. If you get the timing right in a good phase this stock looks conducive to making money. When this stock runs, it runs hard. The reason it is a caution? Put it on the watchlist, but don’t buy yet!

Super Retail Group has been priced at $13.64.

Worley (ASX:WOR) Provides services to the mining sector. If materials is down, you would think this this would be down too. We will keep it on our watchlist, but not for next few months. If history repeats itself, and it does, every time this stock has broken through a momentum line it has had a hard time following and has fallen away.

Worley last traded at $14.00.

Dale Gillham is Chief Analyst at Wealth Within and international bestselling author of How to Beat the Managed Funds by 20%. He is also the author of Accelerate Your Wealth—It’s Your Money, Your Choice, which is available in bookstores and online at www.wealthwithin.com.au

Disclaimers: While Wealth Within holds an Australian Financial Services License (AFSL:226347) the information featured in this program is general in nature and therefore should not be relied upon. Before making any investment decisions, you should consult a licensed professional who can advise whether your investment decisions are appropriate for you.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

This comes after only 5km of the 13km greenstone belt in the Wapistan West claim block was mapped and sampled during the 2023 field season. A wildfire emergency in the James Bay area meant only “walk-in, walk-out” traverses were possible.

This led to a compressed exploration season for all operators in the region.

Recharge said it was delighted to now commence assessment of the remaining 8kms of the greenstone belt.

Recharge’s Managing Director, Felicity Repacholi, commented: “We are excited to get back on the ground at Wapistan, following the melt of the snow and ice, and to resume our groundwork at what we believe to be the most prospective ground within the project.

“We are pleased to be working again with Dahrouge Geological, who are already in the region and therefore able to quickly and efficiently complete this work program.

“The Eeyou Istchee James Bay region, within which Wapistan in located, remains a hotspot for exploration and development stage lithium projects. Results from the previous season at Wapistan were encouraging, and we look forward to updating investors on the results of this work program.”

REC last traded at 3.5 cents.

The Northern Territory shale gas explorer is focused on developing unconventional hydrocarbons in the Betaloo Basin and is striving to raise up to US$175 million to fund the drilling, completion and infrastructure required to reach targeted plateau rates from the proposed Shenandoah South Pilot Project.

Tamboran currently has a market value of approximately AU$391million.

The Company has indicated that a Final Investment Decision for Shenandoah could be imminent.

Upon successful completion of the IPO, Tamboran said it will trade on the NYSE under the ticker TBN. The company said it will continue to trade on the ASX.

The joint book-running managers on the IPO are BofA Securities, Citigroup and RBC Capital Markets, supported by Johnson Rice & Company and Piper Sandler as co-managers.

Tamboran said it has granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of common stock.

Tamboran Resources Managing Director and CEO, Joel Riddle, said:“We are excited to be launching our IPO in the US to support funding of our proposed Shenandoah South Pilot Project in the Beetaloo Basin.

“The US market has deep knowledge of the development of shale gas resources and a long history of supporting gas companies to fund their developments.

“Our Board of Directors believe the US listing will deliver Tamboran shareholders a greater reflection of the value of Tamboran’s assets.”

TBN was up nearly 6% trading at 19 cents.

Through the IPO process, it raised $8 million for development of its Tiros rare earths project in Brazil, in which Resouro has a 90% stake.

This raising was priced at $0.50 per share.

Resouro is already listed on the TSX.

The Tiros Project is a rare earths and titanium project covering an area of approximately 450 km² in the Minas Gerais State, one of the leading mining jurisdictions in Brazil. Tiros is surrounded by infrastructure including roads, rail, ports, power, water and qualified labour.

The company aims to increase shareholder value by advancing the Tiros project and said funds raised would progress exploration activities including a targeted drill program aimed at delineating a JORC compliant Mineral Resource; chemical and metallurgical test work to determine scoping level requirements; and, preliminary economic evaluation and technical studies.

Resouro CEO Chris Eager said the Board viewed Resouro’s listing on the ASX as an opportunity to capture value of the company’s assets and was highly complementary to the listing on the TSXV.

“Brazil hosts some of the world’s largest rare earth elements reserves, making it a potential major supplier globally,” he said.

“We look forward to accelerating our drilling program to enhance our understanding of the magnitude and grade potential of the Tiros project.

“Tiros is being advanced at a time when demand for rare earth elements continues to grow in  response to the electrification and decarbonisation of the global economy, which we believe will continue as countries seek to achieve their net-zero carbon emission targets.”

The company’s share price shot up 23% today to 5.3 cents after it said the facility was on track for completion and production in 2025.

Tennant Mining’s conventional 840Ktpa CIL gold processing facility is being relocated from Cloncurry in Queensland and constructed at its Nobles project area ~14 kilometres southeast of Tennant Creek in the Northern Territory where it is expected to generate about 80 jobs during construction and more than 160 jobs after operations ramp up.

Tennant Mining plans to complete construction and commissioning of its facility in the second quarter of 2025, with commercial production to follow in the third quarter of 2025.

Tennant Mining will initially focus on processing existing stockpiles and tailings at its Nobles open pit mining complex, before developing other open cut  and underground mines in the Tennant Creek Mineral Field including:

 The JV partners’ ongoing exploration programs have been designed to extend the life of mining operation

Emmerson’s Chairman, Andrew Mcllwain commented: “Emmerson is pleased to announce that its Joint Venture partner, Tennant Mining, has commenced construction of the Nobles CIL gold processing facility.

“To have progressed through the study, development and financing phases and now into construction in under four years is a credit to the Tennant Mining team.

“Tennant Mining’s central processing facility is the long-awaited key to unlocking the development of resources and restarting larger scale mining production across the high-grade Tennant Creek Mineral Field. As always envisaged, the future restart of gold production from Emmerson’s assets provides a low-risk return for Emmerson’s shareholders through the 6% gross production royalty payable on gold produced.

“Emmerson looks forward to continuing our partnership with Tennant Mining to undertake further exploration, additional studies, development and production from the Emmerson-Tennant Mining Joint Venture tenements.

“Royalties from the Joint Venture tenements, along with any minimum production payments Emmerson may be entitled to under the Joint Venture agreements, should result in a substantial low risk return for Emmerson.

“With current cash reserves of approximately $3.2 million and Tennant Mining needing to fully fund a further $3.8 million of exploration to complete their joint venture earn-in commitment over the next two years, Emmerson is in a very strong position to continue exploration on the Emmerson-Tennant Mining Joint Venture tenements as well as Emmerson’s 100% owned Tennant Creek and New South Wales exploration projects.”

Tennant Mining’s Managing Director, Peter Main commented: “Commencing development of Tennant Mining’s fully funded Nobles Gold Project is a major milestone for the company and all stakeholders who have toiled hard over the last four years. It is exciting to see the revival of one of Australia’s historically highest grade gold provinces and more importantly the resurgence of commercial scale gold mining in Tennant Creek after almost two decades.”

The medical advice sales agency will assist in the identification, recruitment and management of new partners and customers in Europe.

Proteomics described Growth Medics as an international medical device sales accelerator with a proven track record in assisting medical device and diagnostic companies achieve market penetration with the digital marketing experience required for Proteomics International’s global go-to-market strategy.

Growth Medics will also provide business development, marketing and administrative support for Proteomics International and PromarkerD from their office in the Netherlands. Their role will extend to attending trade shows on behalf of Proteomics International, customer service and training. Growth Medics will initially target new licensing and sales opportunities in the Netherlands, Belgium, Italy and Spain.

Diabetes is a ‘silent pandemic’ and one of the major health challenges of our generation. Diabetic kidney disease (DKD) is a serious complication arising from diabetes which can lead to other health issues such as high blood pressure, heart disease, and ultimately kidney failure. There are 61 million people in Europe living with diabetes.

The total expenditure in the European region on the advanced treatment of diabetes and its complications was EUR176 billion (19.6% of global expenditure) in 2021.

Proteomics International Managing Director Dr Richard Lipscombe said, “We believe Growth Medics is an ideal partner to drive the commercialisation of PromarkerD through Europe due to their extensive market knowledge, proven track record, regulatory expertise, and strong relationships with key stakeholders. Their multilingual and multicultural capabilities ensure targeted sales and marketing strategies. This is a material development in our expansion strategy for PromarkerD across the diverse European market.

Growth Medics are engaged on market standard fee-for-service terms, including commission for achieving successful revenue generating partnerships for Proteomics International to sell the PromarkerD test. Under the agreement Proteomics International will not appoint any similar sales agency for the Netherlands, Belgium, Italy and Spain. The engagement is for two years and is extendable for additional periods of three months by mutual agreement. Both parties have the right to terminate the engagement with six weeks’ notice upon the breach of any material terms of the engagement.

Growth Medics’ Managing Director Emre Aykac said, ”With our expertise in the IVD [in vitro diagnostics] industry, we are excited to embark on this journey with Proteomics International to develop selected markets for PromarkerD in Europe and make this innovative solution accessible to patients. By predicting DKD up to four years in advance, our alliance aims to implement preventative measures that can save lives and improve the quality of care for patients across Europe.

PIQ was trading nearly 5% down at 82.5 cents per share.

Tabcorp said that in the interim, Mr McLachlan will act in an observer capacity with Bruce Akhurst continuing to act as Executive Chairman.

Mr  McLachlan is a household name in Australia having spent a decade as CEO pf Australia’s biggest sporting code, the Australian Football League (AFL), where he led a significant era of change and transformation and delivered record growth, – more than doubling AFL revenues from $502 million in 2013 to $1,063 million in 2023. This included negotiating the largest sports broadcasting rights deal in Australian history.

He oversaw the  expansion of the AFL competition to 18 teams and the launch of the AFLW competition.

Tabcorp said Mr  McLachlan has proven success in managing complex stakeholder environments and working  productively with all levels of government. He also has extensive racing knowledge as a thoroughbred  owner and breeder.

Mr Akhurst said Mr McLachlan has the right attributes to accelerate growth at Tabcorp:  “Gill needs no introduction – he is recognised as one of Australia’s leading CEOs and securing Gill is a  great vote of confidence for Tabcorp’s future. We’ve laid strong foundations and Gill brings a growth  mindset and the capability to capitalise on the opportunities ahead of us,’’ he said.

“Gill has a deep understanding of sport, racing and wagering, combined with signficant commercial  acumen which was highlighted in the substantial growth of AFL revenues under his leadership.  Importantly for us, Gill brings an added dimension of having been responsible for some of the most  significant media rights deals in Australian sports history and we’re excited about the potential growth  opportunities for our wagering and media business under his leadership.”

Mr McLachlan said he was focussed on accelerating the growth of Tabcorp.

“Tabcorp is a wagering, broadcast and integrity services business and the challenges of growing it are  appealing. It’s about creating entertainment for our customers in a safe way and providing a unique customer omni-channel entertainment offering across digital, retail and the media business,’’ he said.

“Tabcorp is a proudly Australian company that contributed $1.1 billion to the racing industry last year and continues to be one of the racing industry’s biggest partners, as well as the wagering licensee in all states, except for WA. This is a really important component of my decision. There are enormous opportunities ahead and I’m looking forward to driving the sport category among other things,” Mr McLachlan added.

Mr McLachlan has a Bachelor of Laws from Melbourne University (Hons), a Bachelor of Commerce from Adelaide University and has completed the Senior Executive Program at Stanford University.

TAH was trading nearly 1% down at 6.5 cents.

The company announced today that the joint  venture’s application for a greenhouse gas storage formation over the WA 31-L licence area has been approved by the Commonwealth Minister for Resources, Madeleine King.

This approval triggers the sale of Triangle’s 78.75% interest in the Cliff Head project to Pilot Energy. Until this has been approved by the regulator,Triangle will continue to operate the Cliff Head field.

Triangle said existing employees will continue to work on the Cliff Head field as it transitions from oil production to the CCS project. Triangle will also support the ongoing  operations of the Cliff Head oil field until the transaction completes.

Pilot is expected to pay Triangle up to $15 million over the CCS project life comprising $3 million in cash, $4.5 million in cash when NOPTA issues a Greenhouse Gas Injection License as part of the next phase and up to $7.5 million in royalties from the CCS project

The divestment of Cliff Head removes any associated liabilities from Triangle’s balance sheet and leaves the company well positioned to focus on its upcoming Booth-1 and Becos-1 wells in the Perth Basin.

Triangle Managing Director, Conrad Todd, said: “We are very pleased to have received approval from the Federal Minister for Resources for the Cliff Head CCS project. This is a major milestone for both companies and, importantly, the culmination of a significant amount of work from the Triangle team over the past two years to streamline the Company’s portfolio.

“The decision will  enable Triangle to focus on its highly prospective conventional oil and gas activities, including the  upcoming wells in the Perth Basin.

“With the Booth-1 well expected to spud in late July, Triangle is on the verge of the most active  period in the Company’s recent history, and we look forward to keeping our shareholders updated  throughout this exciting period.”

TEG was trading 2% down at 2.1 cents.