Markets Reporter The Market Online – First with the news that moves markets. Breaking Australian stock market news, ASX 200 announcements and the latest ASX news today. Wed, 19 Oct 2022 01:07:02 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 Wia Gold (ASX:WIA) delineates 1.4km strike of gold mineralisation at Damaran, Namibia https://themarketonline.com.au/wia-gold-asxwia-delineates-1-4km-strike-of-gold-mineralisation-at-damaran-namibia-2022-10-17/ Mon, 17 Oct 2022 07:06:43 +0000 https://themarketonline.com.au/?p=576983 Wia Gold (WIA) has delineated a continuous 1.4-kilometre strike of shallow gold mineralisation at its Damaran project in Namibia.

The latest discovery comes as the company received assays from its ongoing reverse circulation (RC) drill program at the Kokoseb gold discovery.

Highlights include 42 metres at 1.57 grams per tonne (g/t) gold, 11 metres at 1.87 g/t gold, and 27 metres at 1.71 g/t gold.

At the end of September, WIA had completed 24 holes, for 4902 metres, with the drill rig now progressing towards the south on the western flank of the anomaly.

Further assays are expected over the coming weeks from an additional 12 holes.

Meanwhile, a second drill rig will be mobilised to the site in January to focus on infill drilling on the current sections, while the other rig continues to focus on along-strike reconnaissance drilling.

“We look forward to ramping up drilling activity at Kokoseb in 2023 with the addition of a second drill rig, which will focus on infilling and tracing down dip the actual results,” Chairman Andrew Pardey said.

Shares ended the day in the grey to close at six cents.

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ClearVue Technologies (ASX:CPV) receives first residential order https://themarketonline.com.au/clearvue-technologies-asxcpv-receives-first-residential-order-2022-10-17/ Mon, 17 Oct 2022 04:45:54 +0000 https://themarketherald.com.au/?p=577147 ClearVue Technologies (CPV) has received an order for the first residential installation of its solar energy skylight windows into a new luxury residence in the ACT.

As part of the project, Clearvue will install eight photovoltaic skylights of 0.78 metres by 1.4 metres alongside other non-solar windows and doors.

The company said this project would serve as a reference site for future residential and skylight projects and applications locally and globally.

The home will be built by apartment developer Custom Apartments in conjunction with Elm Building Group.

Construction on the project has commenced and is expected to be complete by the end of February next year.

ClearVue has previously deployed its solar glass products into various projects across the Asia-Pacific region, but this will be its first project in the residential housing market.

The company said it had been taking steps to promote its PV glazing product in the context of skylights and roof windows.

This includes active discussions with potential licensees in several jurisdictions for the right to manufacture and distribute the ClearVue product for this specific application.

Head of Investor Relations Earle Harper said this sale supported the company’s commercialisation journey.

“The sale, whilst a sizeable order for a single residence project, more importantly demonstrates the flexibility of the ClearVue PV glazing product across market categories and segments and will provide yet another reference site for the company, including, in this case, to be used to demonstrate the skylight and residential market applicability for the product,” Mr Harper said.

ClearVue shares were up 2.5 per cent to 20.5 cents at 3:36 pm AEDT.

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Aurumin (ASX:AUN) advances activities during September quarter https://themarketonline.com.au/aurumin-asxaun-advances-activities-during-september-quarter-2022-10-17/ Mon, 17 Oct 2022 03:26:00 +0000 https://themarketonline.com.au/?p=577040 Aurumin (AUN) has progressed exploration activities during the September quarter.

Over the period, the company recorded cash outflows of $2.05 million, with $1.48 million spent on exploration and evaluation.

This allowed it to accelerate work on its Central Sandstone project in WA, with mapping and surface sampling activities continuing throughout the quarter.

Over the three-month period, Aurumin reported numerous assays from the project, including a hit of 352.8 metres at 1.5 grams per tonne (g/t) gold.

Managing Director Brad Valiukas said the Two Mile Hill underground deposit will be a key part of the project going forward.

“We have had some excellent results at Central Sandstone this quarter, from both reverse circulation drilling and diamond drilling at Shillington and Two Mile Hill,” he said.

“We are currently working on an updated resource, with Two Mile Hill and Shillington combined, and expect to release the updated resource late this month.”

Staff costs came in at $49,000 and a further $516,000 was directed towards administration and corporate costs.

Additionally, AUN invested $120,000 in exploration and received $2.18 million from its financing activities.

The company finished the period with $2.17 million in cash and cash equivalents, which is estimated to last one quarter.

However, Aurumin said it plans to reduce its net operating cash outflows over the current December quarter.

Shares were trading flat at 8.3 cents each at 2:25 pm AEDT.

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Dreadnought Resources (ASX:DRE) progresses drilling at Mangaroon, WA https://themarketonline.com.au/dreadnought-resources-asxdre-progresses-drilling-at-mangaroon-wa-2022-10-17/ Mon, 17 Oct 2022 00:59:00 +0000 https://themarketonline.com.au/?p=576988 Dreadnought Resources (DRE) has progressed drilling activities at its Mangaroon project in WA.

The company has launched reverse circulation (RC) drilling at C3 and C4, which will comprise 83 holes for about 6600 metres.

In addition, it has completed a 14-hole fence line program over a distance of 2.3 kilometres.

This program intersected mineralisation in 13 of the 14 holes, including mineralised intercepts up to 54 metres thick in two of those holes.

Dreadnought said these positive results confirm the potential of C1 to C5 to host significant rare earth element (REE) mineralisation.

It expects to wrap up the full drill program next month, with the objective of gaining a better understanding of the geology.

Following this program, the company plans to undertake infill RC and diamond drilling over mineralised areas.

Samples from C3 and C4 have been dispatched for rush analysis and assays are expected in November.

“The initial fence line drilling at C3 and C4 was designed to confirm the extent and complexity of the interpreted carbonatite intrusions and to better understand the cover regolith and depth of weathering,” Managing Director Dean Tuck said.

“The results have already exceeded expectations in identifying variable weathering and multiple carbonatite and syenite intrusions.”

Shares were trading 5.26 per cent higher at 10 cents at 11:57 am AEDT.

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ReadCloud (ASX:RCL) acquires Southern Solutions https://themarketonline.com.au/readcloud-asxrcl-acquires-southern-solutions-2022-10-14/ Fri, 14 Oct 2022 06:20:36 +0000 https://themarketonline.com.au/?p=576589 ReadCloud (RCL) has acquired Southern Solutions, a national provider of training certificates in Early Childhood Education and Care.

The sale will be funded through RCL’s existing cash reserves, with an upfront payment of $1.35 million to be paid through a mixture of cash and shares.

Additionally, deferred cash and share payments of up to $1.8 million may be required based on FY23 and FY24 performance.

In the last financial year, Southern Solutions has since grown to achieve sales revenue of $2 million and earnings before interest and tax of $364,000.

RCL CEO and Co-Founder Lars Lindstrom said the acquisition represents a large growth opportunity for the company to utilise its technology to address a national skills shortage in the childcare sector.

“The industry has a high demand for training of new and existing teachers and strong government focus and funding, and we believe we can assist in solving this issue with the ReadCloud online training platform,” he said.

Shares were trading 7.14 per cent higher to close at 15 cents each.

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Magnum Mining and Exploration (ASX:MGU) and Appalachian Iron to lead green pig iron production in the US https://themarketonline.com.au/magnum-mining-and-exploration-asxmgu-and-appalachian-iron-to-lead-green-pig-iron-production-in-the-us-2022-10-14/ Fri, 14 Oct 2022 03:59:35 +0000 https://themarketherald.com.au/?p=576692 Magnum Mining and Exploration (MGU) will acquire Appalachian Iron to access new pig iron-producing technology.

Appalachian Iron has the right to enter into a formal license agreement for the use of the HIsmelt technology.

Magnum plans to implement this technology to develop a green pig iron plant at its Buena Vista magnetite project in Nevada.

The company said the benefits of the HIsmelt process included reduced carbon emissions, greater raw material flexibility, lower operating and capital costs, and a premium-quality final product.

The Appalachian acquisition was executed by Magnum’s recently-appointed CEO, Neil Goodman, who is also the CEO and sole shareholder of Appalachian Iron.

Mr Goodman said he had been working in the pig iron industry for 40 years.

“Pig iron is a valuable commodity these days because in modern consumer society, all the scrap material is recycled, and the recycling of steel includes copper,” Mr Goodman said.

“Copper is a contaminate for steel, it makes it weak,” he explained.

“To purify the scrap, especially in America, virgin iron units or clean iron units need to be added, and pig iron is the preferred choice.”

Mr Goodman spent 13 years managing the technical design, development, operation, and marketing of the HIsmelt technology.

Additionally, he currently holds the role of Director for the HILT CRC, which supports collaborative research efforts to assist the decarbonisation of Australian iron/steel, alumina/aluminium, and cement and lime producers.

Magnum said a technology assessment report revealed that the HIsmelt technology produced the highest net present value for the conversion of magnetite to pig iron.

Alongside Magnum’s plans to implement the tech into the Buena Vista project, Appalachian is planning to use the tech in an iron ore project in West Virginia, which is still in the conceptual phase.

To further development of this project, Appalachian has entered a number of non-binding agreements for existing land access in the US and the offtake of future pig iron.

Magnum shares were trading 17.14 per cent higher at 41 cents at 2:44 pm AEDT.

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Iceni Gold (ASX:ICL) intersects gold at Everleigh Well, WA https://themarketonline.com.au/iceni-gold-asxicl-intersects-gold-at-everleigh-well-wa-2022-10-14/ Fri, 14 Oct 2022 01:57:00 +0000 https://themarketonline.com.au/?p=576576 Iceni Gold (ICL) has intersected gold at Everleigh Well, within its 14 Mile Well project in WA.

The latest results come from one of three diamond holes, completed as part of its 1783-metre drill program.

The program sought to test beneath the ultrafine gold soil anomaly, an area coincident with a number of geological and geophysical targets.

The latest hole was drilled immediately east of the Castlemaine fault and reportedly intersected Danjo Monzogranite along its entire length.

The company recorded grades of up to 1.82 grams per tonne (g/t) gold.

It believes this is highly encouraging as it demonstrates that gold is present to the east of Castlemine fault and is being deposited within the granite.

Iceni has launched an integrated geophysical program to support ongoing exploration at the Everleigh Well target area.

Follow-up on ground exploration work is continuing at the Everleigh Well target and along the Castlemine fault.

Shares were trading 6.08 per cent lower at 8.5 cents each at 12:55 pm AEDT.

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Austral Resources (ASX:AR1) reports “outstanding” results from Lady Colleen, QLD https://themarketonline.com.au/austral-resources-asxar1-reports-outstanding-results-from-lady-colleen-qld-2022-10-13/ Thu, 13 Oct 2022 03:45:00 +0000 https://themarketonline.com.au/?p=576153 Austral Resources (AR1) has reported “outstanding” results at the Lady Colleen prospect, within its Mt Kelly operation in Queensland.

The latest results came from step-out diamond and reverse circulation (RC) drilling.

Among the highlights, the company intercepted 49 metres at 1.27 per cent copper from 173 metres downhole, including a higher-grade hit of six metres at 2.95 per cent copper from 189 metres.

Austral said the results confirm the presence of a continuous high-grade core to mineralisation at the prospect, which remains open along strike and down plunge to the north-west.

It will design further drilling to evaluate the potential to extend mineralisation, with plans to release an updated mineral resource estimate (MRE) this quarter.

Additionally, Austral will undertake a scoping study to assess the potential of the Lady Colleen resource to support an open-cut mining project at Mt Kelly.

CEO Dan Jauncey said the 2022 drilling campaign was completed safely and effectively.

“Following the MRE update, Austral will commence a scoping study to evaluate all modifying factors and determine the economic potential for open pit mining at Lady Colleen,” he said.

“We look forward to advising the market with the updated MRE at Lady Colleen over the coming weeks.”

Shares were trading 6.06 per cent higher at 17.5 cents each at 2:41 pm AEDT.

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Calima Energy (ASX:CE1) appoints Jerry Lam as new CFO https://themarketonline.com.au/calima-energy-asxce1-appoints-jerry-lam-as-new-cfo-2022-10-13/ Thu, 13 Oct 2022 02:27:36 +0000 https://themarketherald.com.au/?p=576239 Calima Energy (CE1) has appointed Jerry Lam as its new Chief Financial Officer (CFO).

The company said Mr Lam had more than 18 years of experience in the Canadian oil and gas market, having worked with Legacy Oil, Seven Generations Energy, and KPMG.

As part of his remuneration, Calima has issued Mr Lam 1.5 million performance rights across three different categories.

Additionally, CE1 said it issued 3.5 million unlisted options to marketing personnel.

In other news, the company is due to distribute $2.5 million to shareholders today as part of its first capital return.

Calima said every security on issue would attract a return of 0.41 cents, representing an average annual return of about six per cent to shareholders.

Calima Energy is focused on oil and gas production and exploration in Canada, having completed a transformational merger with Blackspur Oil back in 2021.

The company owns the low-cost, cash-flowing Brooks and Thorsby assets in Alberta, which it believes have a long-term upside. Calima said it expected to produce 4,200 barrels of oil equivalent per day from the Brooks and Thorsby assets by the end of 2022.

Meanwhile, Calima also holds a 10-year continuation lease over 49 sections of land in Canada’s British Columbia region, dubbed the Montney project.

Shares in Calima Energy were up 4.35 per cent and trading at 12 cents at 1:22 pm AEDT.

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Antipa Minerals (ASX:AZY) begins phase two drilling at Minyari Dome, WA https://themarketonline.com.au/antipa-minerals-asxazy-begins-phase-two-drilling-at-minyari-dome-wa-2022-10-13/ Thu, 13 Oct 2022 00:57:00 +0000 https://themarketonline.com.au/?p=576112 Antipa Minerals (AZY) has commenced a phase two drill program at its Minyari Dome project in Western Australia.

The company will complete up to a 9000-metre diamond core drill program, follow-up reverse circulation (RC) drilling, and 1400 metres of aircore drilling.

Assay results from the phase one program are expected over the next two months, with follow-up RC drilling to be undertaken depending on the results.

In the meantime, the company has two diamond core rigs testing multiple targets with a high potential for resource growth.

This includes the Minyari resource plunge extension and the Minyari North prospect, both located north of the Minyari resource.

Additionally, high priority greenfield gold-copper soil anomalies are scheduled to be tested with aircore drilling in November.

Managing Director Roger Mason said the company has started to unlock the potential of the project.

“The Minyari Dome Project economics are hugely leveraged to future resource growth, from both extensional and greenfield drilling opportunities and we have a pipeline of high‐prospectivity gold‐copper targets to drill,” he said.

Furthermore, the company’s pre-feasibility study has commenced, which will include a component of resource definition drilling.

Shares were trading 2 per cent higher at 2.6 cents at 11:56 am AEDT.

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Axiom Properties (ASX:AXI) makes strategic investment in PointData https://themarketonline.com.au/axiom-properties-asxaxi-makes-strategic-investment-in-pointdata-2022-10-12/ Wed, 12 Oct 2022 07:26:08 +0000 https://themarketonline.com.au/?p=575695 Axiom Properties (AXI) has entered a subscription agreement to purchase a cornerstone investment in PointData, an artificial intelligence property data and analytics company.

AXI will invest $4 million over two equal tranches, with the first payment due by the end of this week and the second by the end of 2023, subject to PointData shareholder approval.

This will be funded by the company’s existing cash reserves and receivables and it will earn it a seat on PointData’s board.

PointData gives users insight into property valuations, as well as analytics on development potential.

The move follows Axiom’s strategic review, which determined it would be “prudent” to investigate additional active investment opportunities.

Managing Director Ben Laurance said the investment in PointsData fits with the company’s vision under the strategic review.

“It’s a key investment in a future key player in the wider property technology ecosystem, and one that we believe is capable of delivering exceptional returns,” he said.

“As one of the few companies in the market that generate their own data and analytics capabilities, PointData is uniquely positioned to provide optimised data and analytics to help solve complex issues facing the sector at large”.

Shares closed 1.82 per cent lower at 5.4 cents each.

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Strickland Metals (ASX:STK) and Gibb River Diamonds (ASX:GIB) identify new targets at Iroquois, WA https://themarketonline.com.au/strickland-metals-asxstk-and-gibb-river-diamonds-asxgib-identify-new-targets-at-iroquois-wa-2022-10-12/ Wed, 12 Oct 2022 06:59:46 +0000 https://themarketonline.com.au/?p=575691 Strickland Metals (STK) and Gibb River Diamonds (GIB) have identified multiple new targets at the Iroquois project in WA’s Earaheedy Basin.

It comes after a large soil sampling program detected multiple new areas of elevated copper-lead-zinc anomalism, west of the Iroquois discovery and Malecite prospect.

Strickland said copper in soil appears to be an accurate marker of potential feeder structures, which are believed to generate the primary zinc-lead mineralisation at the project.

Meanwhile, the native title heritage survey has been rescheduled to commence on October 24 due to local cultural reasons.

STK CEO Andrew Bray said once the survey is complete, it will be ready to undertake substantial drill programs across the project.

“The promising story at Iroquois is continuing to develop with the delineation of multiple new targets,” he said.

“Regional reconnaissance work and geophysical surveys have occurred in recent months with a view to locating promising areas for follow up drill testing.”

Both Strickland and Gibb River ended the day in the grey to close at 3.6 cents and 5.5 cents, respectively.

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Kairos Minerals (ASX:KAI) identifies new lithium and gold targets at Croydon, WA https://themarketonline.com.au/kairos-minerals-asxkai-identifies-new-lithium-and-gold-targets-at-croydon-wa-2022-10-12/ Wed, 12 Oct 2022 03:52:39 +0000 https://themarketonline.com.au/?p=575762 Kairos Minerals (KAI) has identified lithium and gold targets at its Croydon project in WA.

The company reported “strong” results from more than 1300 soil samples that were collected from the geochemical sampling program.

Following data analysis, it identified a new gold target at the Viento prospect and four new lithium anomalies.

The lithium targets were uncovered after Kairos detected elevated pathfinder elements, up to eight kilometres long and coincident with mapped pegmatites.

Meanwhile, a robust gold anomaly helped define the 2.5-kilometre-long Viento target.

Additionally, Kairos completed an in-fill soil sampling program at the Tierra and Aqua prospects, with the targets ready to be drill-tested.

The program refined the target area at Tierra, with gold values of up to 1511 parts per billion recorded.

Meanwhile, the Aqua prospect is a one-kilometre-long anomaly, recording gold values of up to 3060 parts per billion.

Managing Director Dr Peter Turner said the results demonstrate that Croydon has the outstanding potential to host extensive lithium and gold mineralisation.

“In light of these results, we are moving quickly to implement follow-up programs offield verification, mapping and drilling,” he said.

“It is important to note that the large Croydon Project was pegged for its geological characteristics and potential to host Hemi-style mineralisation – these results attest to its prospectivity not just for gold but for significant lithium mineralisation as well.”

Shares were trading 3.45 per cent higher at three cents each at 2:52 pm AEDT.

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Raiden Resources (ASX:RDN) intersects nickel-copper sulphides at B1 deposit https://themarketonline.com.au/raiden-resources-asxrdn-intersects-nickel-copper-sulphides-at-b1-deposit-2022-10-12/ Wed, 12 Oct 2022 02:16:00 +0000 https://themarketonline.com.au/?p=575698 Raiden Resources (RDN) has intersected nickel-copper sulphides from initial drilling at the B1 deposit, within the Mt Sholl project in Western Australia.

The first two diamond drill holes hit visual massive, semi-massive, and disseminated sulphide mineralisation.

Highlights include 22.7 metres of pyrrhotite and chalcopyrite mineralisation from 54.28 metres.

This was part of the company’s maiden drilling program at the project, which sought to confirm its geological model and selected historical results, as well as provide material for metallurgical testing.

The drilling focused on the B1, B2 and A1 deposits and has now finished up at B2.

Managing Director Dusko Ljubojevic said the mineralisation observed was as expected and is hosted within broad zones.

“We look forward to reporting the results from all the drill holes to date, which should provide for an exciting several months of news and updates from the drill bit,” he said.

Shares were trading steady at 0.9 cents each at 1:14 pm AEDT.

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EZZ Life Sciences (ASX:EZZ) declares fully franked dividend for FY22 https://themarketonline.com.au/ezz-life-sciences-asxezz-declares-fully-franked-dividend-for-fy22-2022-10-12/ Wed, 12 Oct 2022 00:21:00 +0000 https://themarketonline.com.au/?p=575667 EZZ Life Sciences (EZZ) has determined a fully franked final dividend for FY22 of 0.45 cents.

It comes after the genomic life science company sharpened its focus on cost control over the financial year, with marketing costs reducing by $4.88 million and cost of sales declining by over $2 million.

This resulted in a boost to its operating cashflows to $1.9 million.

EZZ reported earnings before interest, tax, depreciation and amortisation (EBITDA) of $1.7 million.

Over the 12-month period, the company improved its overall financial position, lifting cash and cash equivalents by 18 per cent to $10.46 million.

The dividends will be paid on December 16, with the ex-dividend date to land on November 3 and the record date on November 4.

Shares were trading steady in early trade at 30.5 cents each at 11:20 am AEDT.

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Power Minerals (ASX:PNN) intersects wide zones of copper at Santa Ines, Argentina https://themarketonline.com.au/power-minerals-asxpnn-intersects-wide-zones-of-copper-at-santa-ines-argentina-2022-10-11/ Tue, 11 Oct 2022 04:11:49 +0000 https://themarketonline.com.au/?p=575227 Power Minerals (PNN) has intersected wide zones of near-surface copper mineralisation at the Santa Ines project in Argentina.

The latest results come from the company’s maiden five-hole diamond drill program which drilled 651.4 metres.

Highlights from the program include 26 metres at 0.6 per cent copper from 62 metres and two metres at 1.3 grams per tonne (g/t) gold from 62 metres.

The company said all drill holes intersected copper and trace gold, with zinc levels also reported in drill holes and surface samples.

According to Power, the positive first-pass results confirm the project’s discovery potential for significant copper-gold mineralisation.

It will assess future plans for the project in parallel with its core focus of advancing the Salta lithium project.

Executive Director Mena Habib said the results provide it a clear direction for its future plans.

“The results of our first phase of drilling at the Santa Ines project have validated our exploration approach at the project, and have confirmed the discovery potential for a significant copper-gold system within the project area,” he said.

Shares were trading 3.19 per cent in the red at 45.5 cents at 3:11 pm AEDT.

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Xantippe Resources (ASX:XTC) shuffles board as Managing Director resigns https://themarketonline.com.au/xantippe-resources-asxxtc-shuffles-board-as-managing-director-resigns-2022-10-11/ Tue, 11 Oct 2022 02:32:00 +0000 https://themarketonline.com.au/?p=575254 Xantippe Resources (XTC) has made a string of board and management changes as Managing Director Richard Henning resigns.

The company did not give a reason for Mr Henning’s departure.

John Featherby has been appointed as Executive Chairman, replacing Imants Kins, who will move into a non-executive director role. Mr Featherby will receive a salary of $216,000 plus superannuation.

The company said Mr Featherby had extensive experience in the stock broking and wealth management industry.

Additionally, Carlos Arecco has been appointed as a non-executive director.

Mr Arecco is an Argentinian businessman who is the Director of the Argentine Chamber of Commerce and a board member of the Buenos Aires Argentina Stock Exchange.

Furthermore, his company, Arecco Ingenieria, has operated in the fields of water, gas, industrial installations, airports, communications and the naval industry over its 43-year history.

In other news, the company entered services agreements with two Argentinian-based directors, Juan Santos and Carolina Arecco.

Mr Santos will be paid US$144,000 per year for his role as Executive Director for South America.

Meanwhile, Ms Arecco US$120,000 per year to provide consultancy services to the company.

Shares in Xantippe were trading grey at 0.8 cents at 1:14 pm AEDT.

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TMK Energy (ASX:TMK) completes initial exploration program at Gurvantes XXXV, Mongolia https://themarketonline.com.au/tmk-energy-asxtmk-completes-initial-exploration-program-at-gurvantes-xxxv-mongolia-2022-10-11/ Tue, 11 Oct 2022 01:03:22 +0000 https://themarketonline.com.au/?p=575264 TMK Energy (TMK) has completed its initial exploration drilling program at the Gurvantes XXXV coal seam gas (CSG) project within the South Gobi Basin in Mongolia.

According to the company, all five exploration wells delivered thick coal intersections with high gas contents.

The final exploration well, Snow Leopard 5R, intersected 69 metres of coal, including 41 metres in the upper coal seam and 28 metres in the lower coal seam.

TMK said preliminary results from drill stem testing completed over the upper seam of the well indicated the highest permeability recorded in the project area to date.

It has now begun pilot well program planning and the initial contingent resourceassessment, targeted for completion by the end of this month.

CEO Brendan Stats said the company had acquired new data to progress these activities.

“The project is gaining significant momentum and we are working hard to expedite the next stages, being to produce gas to surface and begin to prove up the vast area we have under license,” Mr Stats said.

“In conjunction with operations, we look forward to progressing commercial arrangements with our partner (Talon) and further delineating a commercial agreement with PetroChina pursuant to our existing MOU.”

Shares in TMK Energy were trading 5.88 per cent higher to 1.8 cents at 11:57 am AEDT.

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Raiden Resources (ASX:RDN) hits further massive nickel-copper sulphides at Mt Sholl, WA https://themarketonline.com.au/raiden-resources-asxrdn-hits-further-massive-nickel-copper-sulphides-at-mt-sholl-wa-2022-10-11/ Tue, 11 Oct 2022 00:01:00 +0000 https://themarketonline.com.au/?p=575214 Raiden Resources (RDN) has intersected further massive nickel-copper sulphide mineralisation at the B2 deposit, within the Mt Sholl project in WA.

All 17 drill holes completed at the deposit to date have reportedly intersected visual nickel copper mineralisation.

The company said the mineralisation is in line with its modelling of the deposit and supports the potential to define a resource.

Among the latest drilling highlights, Raiden noted 38.94 metres of nickel-copper sulphide mineralisation from 100 metres.

Planned drilling has wrapped up at B2, with drilling continuing at the A1 and B1 deposits.

Initial batches from B2 drilling have been dispatched to a laboratory, with assays expected in four to five weeks.

In the meantime, visual results from continued drilling will be reported on an ongoing basis following detailed logging.

Raiden Managing Director Dusko Ljubojevic said the intercepts provide “significant encouragement”.

“The broad and shallow intervals of sulphide mineralisation are all supporting the company’s model and indicate the presence of a near-surface, robust body of mineralisation, which remains open along strike and at depth,” he said.

Shares were trading 12.5 per cent higher at 0.9 cents each at 11:00 am AEDT.

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Arcadia Minerals (ASX:AM7) launches EM survey over Bitterwasser, Namibia https://themarketonline.com.au/arcadia-minerals-asxam7-launches-em-survey-over-bitterwasser-namibia-2022-10-11/ Mon, 10 Oct 2022 23:44:35 +0000 https://themarketonline.com.au/?p=575213 Arcadia Minerals (AM7) has launched an electromagnetic survey over its Bitterwasser project in Namibia.

Following a consultation process with communities in the area, Arcadia has now received all authorisations and permissions for the survey.

The survey aims to detect brine deposits at depth on a regional scale and to identify sub-basins and total basin depths for lithium-enriched brine pools, as well as targets associated with tectonic structures containing hydrothermal activity.

Specialist airborne geophysical operator New Resolution Geophysics will conduct the survey over large portions of the project.

Arcadia said if the survey was successful, it would plan a drill program over the best targets.

An initial 2000 line-kilometres will be flown, with a second phase to be completed depending on the results.

The survey is expected to be able to penetrate to a depth of 300 metres.

Shares in Arcadia Minerals were up 10.94 per cent to 36 cents at 10:39 am AEDT.

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