The company received its permits and approvals for drilling activities and environmental bonds for San Antone East and Western Flats.

The maiden 3000-metre drilling program will test the Siebert formation, which comprisestertiary aged sediments from or near surface and is known to host American Lithium’s nearby TLC deposit.

After drilling has been complete, further work is planned at the Traction, Lone Mountain and Heller prospects to get them ‘drill-ready’ in the coming months.

Technical Director Robin Cox said starting the RC program marks a “very important milestone” for the project and the company.

“Since the acquisition of the NLP in June 2022, the company has accelerated its technical evaluation of the landholding to reach this point of defining several high priority drill targets and the commencement of the maiden drilling programme,” Mr Cox said.

“The company is very excited about what this program may discover as we explore an area which is well known for hosting lithium claystones.”

Holes will be drilled between 150 to 200 metres in-depth and the program is expected to take approximately five weeks.

All samples will be submitted to ALS laboratory services in Reno, Nevada.

Shares in Auroch were up 1.69 per cent, trading at 6 cents at market close.

The company officially recruited the last patient of its 360-patient study which is designed to provide clinical evidence as to the performance and safety of Xprecia Prime.

Xprecia Prime is Universal Biosensors’ coagulation device which provides rapid PT/INR results.

The evidence will then be used in UBI’s 510K submission to the US Food and Drug Administration (FDA), which is expected to be lodged during the current quarter.

CEO John Sharman said completing enrolment is a key milestone for the future of UBI’s coagulation business after spending more than a decade developing its point-of-care coagulation platform.

“UBI’s existing coagulation product (Xprecia Stride) has insignificant sales in the US which represents about 50 per cent of the estimated global US$1 billion (A$1.4 billion) PT/INR market,” Mr Sharman said.

“We expect an approval to sell Xprecia Prime in the US will add significant value to our coagulation business into the future.”

The clinical study protocol was discussed at a FDA pre-submission meeting and patients were enrolled across the prescribed PT/INR measuring ranges.

The study will be conducted at five clinical sites in the US.

Shares in UBI were up 9.62 per cent, trading at 28.5 cents as of 2:00 pm AEDT.

Assay results from ten reverse circulation (RC) holes totalling 973 metres showed multiple zones of shallow high grade graphite mineralisation 500 metres south of the existing mineral resource.

Best results from the program included four metres at 10.6 per cent total graphitic carbon (TGC) from 15 metres downhole, and four metres at 9.6 per cent TGC from 70 metres downhole.

Managing Director and CEO Andrew Worland said the discovery demonstrates the pathfinding ability of the airborne electromagnetic geophysical survey undertaken.

“Large parcels of our ground holding show significant anomalies and represent excellent further targets for exploration drilling,” Mr Worland said.

“The success of our exploration to date and the likelihood of being able to replicate it at the sites of these untested anomalies gives us great confidence that we can significantly expand the Springdale mineral resource base over time with targeted drilling.”

The drilling aims to upgrade the existing Springdale mineral resource estimate (MRE) from the inferred to indicated category.

Further, the company aims to expand the mineral resource inventory through exploration drilling in areas highlighted by an airborne electromagnetic geophysical survey undertaken in 2019.

Visual graphite mineralisation was identified back in December 2022, with assays for that drilling expected to be received by February.

Shares in International Graphite last traded at 24 cents at 2:15 pm AEDT.

The three-hole program, totalling 607 metres, tested strong electromagnetic conductors along strike from a high-grade historical copper occurrence at Victoria Bore.

The drill holes were thought to have intercepted the mineralised sequence, yet returned only mildly anomalous base metal values.

The program identified graphitic shale units to be the source of the geophysical targets, along with trace occurrences of copper, silver, nickel, zinc and lead in all holes.

This expands the footprint of known mineralisation surrounding the mine a further 400 metres to the northwest to a total strike of 1250 metres.

“The company is awaiting analysis from a consulting group to provide further understanding on the source of the previously mined high grade copper at Victoria Bore,” Executive Director Simon Eley said.

“The group are also reviewing the aeromagnetic and radiometric data recently obtained which will provide us with priority regional targets across the companies 33,000 ha tenure.”

The company is currently investigating the properties of the graphite at Victoria Bore and will update the market in due course.”

However, the continued base metal mineralisation being intercepted at Victoria Bore is still yet to be explained by a succinct theoretical model.

This will be the focus of future work as an external consultant group are engaged to analyse all previously collected data.

M3 Mining were down 16 per cent, trading at 10.5 cents as of 1:25 pm AEDT.

The completion of the 38 hole, 5726-metre program brings the company closer to defining its maiden JORC resource at the project.

The drilling confirmed the rare earth elements (REE) containing geological structure are significantly larger than previously thought.

Geological data showed significant consistent REE mineralisation across the observed samples, with the massive deposit remaining open at depth and likely continuing east into the company’s adjoining Bluegrass prospect.

Managing Director and CEO Chris Gibbs said the size, scale and consistency of the resource observed is similar to large-scale, long-life copper/gold porphyry mines which are common throughout the western United States.

“The exploration target of over a billion tonnes is now being authenticated based on this drilling program,” Mr Gibbs said.

“The drill results together with the positive metallurgical studies amplify the significant value of Halleck Creek’s potential as a key domestic US rare earth supplier.”

The company is now awaiting assay results to finalise a maiden JORC resource estimate, which it plans on releasing in Q1 2023.

Shares in American Rare Earths were up 6.41 per cent, trading at 20.8 cents as of 12:15 pm AEDT.

The company said the new contract highlights the ongoing strength of the company’s strategic relationship with Coles, delivering on large and material contracts with retailers and large clients.

CEO Jourdan Thompson told investors the third win demonstrates the trust of Coles in Halo and its ability to deliver quality products on time and in full.

“We are pleased to continue to support Coles as they grow their private label range in health and wellness and that Coles have recognised Halo as a leading health and wellness manufacturer,” Mr Thompson said.

“We will continue to work with Coles to further expand their range and offering.”

The terms of arrangement has not yet been specified, but the company anticipates the term will be longer than 12 months, similar to that of its two ongoing contracts with the retail giant.

A further three of its product lines are expected to be added in October and will be in addition to the forecast sale value of $2.9 million.

Shares in Halo Food Co held steady at 2.6 cents as of 11:30 am AEDT.

The offer is now open, providing shareholders the ability to accept or reject MinRes’s takeover bid. 

MinRes intends to offer to purchase NWE shares at an implied price of six cents per share, representing a 43 per cent premium to Norwest’s last closing price on December 15.

MinRes Managing Director Chris Ellison called the offer generous, considering only one well has been drilled and the inherent risks associated with additional drilling and resource definition.

“By rejecting our compelling offer without providing any alternative valuation, the Norwest board is failing its shareholders,” Mr Ellison said. “We’ve got the balance sheet and team to get this project done, and a portfolio of assets that will underpin strong growth for decades to come.

“By accepting our offer, Norwest shareholders will maintain exposure to Lockyer Deep, as well as MinRes’ world-class portfolio of iron ore, lithium, mining services operations and our highly prospective energy position in the Carnarvon Basin.”

Norwest is MinRes’s minority joint venture partner in the Lockyer Deep gas project in the Perth Basin.

Shareholders will have until February 6 to make their decision, unless further extended. 

At market close, MinRes shares traded at $88.06 while Norwest shares traded at 6.7 cents.

The two-phase diamond and reverse circulation drilling program will target untested potential copper and gold zones outside the resource area, as well as potential depth extensions to the Kempfield resource.

The company will drill up to 1800 metres across the copper exploration area Colossal Reef, high grade silver prospect Sugarloaf and within the Kempfield resource area.

Managing Director Pedro Kastellorizos said the company was excited to have begun drilling over the deposit.

“The campaign will target identified abundant untested mineralisation zones which have strong potential to host undiscovered copper, gold, silver and/or base metal mineralisation not contained within the current resource,” Mr Kastellorizos said.

“I look forward to updating the market with our results”.

The Kempfield deposit belongs to a peer group of volcanic-hosted massive sulphide (VHMS) deposits located at the margins of geological basins.

This peer group includes the 176 million ounce Bowdens Silver mine held by Silver Mines (SLV) which received mine development approval from the NSW Department of Planning and Environment at the end of 2022.

Shares in Argent Minerals were down 15.8 per cent, trading at 1.6 cents as of 4:10 pm AEDT.

The incoming CFO will replace Alan Cooper, who will retiring from the company on February 7.

Mr Gouws is a chartered accountant with Australian and international experience gained throughout the UK, Europe, Africa, Middle East and the USA.

He was most recently the CFO of Armour Energy (AJQ), a Brisbane-based, ASX-listed company focused on the exploration, development, and production of gas and associated liquids resources.

Prior to this, he served as CFO at a number of companies which included the management of oil and gas operations and funding of projects.

“We are delighted to have Craig join us as we continue to develop the Valhalla project and examine the paths forward towards commerciality,” Black Mountain Energy Executive Chairman Rhett Bennett said.

“I also wish to thank Alan for his contribution to the company and wish him well in his future endeavours.”

Shares in BME held steady at 3.1 cents as of 4:00 pm AEDT.

Results from the company’s latest aircore (AC) drilling program showed gold mineralisation present along a six kilometre strike line, coinciding with other elements including silver, antimony and tellurium in surface rock chip sampling.

The company said these gold anomalous AC holes form clusters that correlate with the eastern contact of the Danjo Granite and an adjacent BIF unit.

Technical Director David Nixon said the wide spaced AC drilling was designed as a broad-brush test across the Guyer Shear.

“With the AC lines at a broad spacing of 700 metres to 1.2 kilometres, the 11 kilometre length of the granite-greenstone contact remains largely untested,” Mr Nixon said.

“These mineralised trends form attractive exploration targets for future exploration programs in the Guyer target area.”

The Laverton-Leonora district is known to host large gold deposits associated with BIF or granite-greenstone contacts.

Shares in Iceni Gold last traded at 13 cents at 4:00 pm AEDT.

The placement will issue approximately 42 million new shares at 40 cents each, to be completed in a single tranche.

The issue price represents a 11.1 per cent discount to the last close on January 16, and a 6.9 per cent premium to the 30-day volume weighted average price (VWAP).

The company’s directors have also applied for an additional 412,500 shares, raising a further $165,000, subject to shareholder approval at a general meeting in early March 2023. The directors also indicated the intention to exercise a further 997,778 options for $199,556.

The company said funds raised from the placement will be applied towards preparing Paulsens and Coyote for restart, with an immediate focus on extension and discovery drilling at Paulsens.

“The placement will allow us to advance our production restart objectives by significantly accelerating our resource growth activities at Paulsens,” Managing Director Gareth Solly said.

“We have one of Australia’s highest-grade deposits at Coyote with 356 thousand ounces at 14.6 grams per tonne (g/t) gold and a restart study, and required additional drilling will also be undertaken.

“We look forward to completing a resource update at Paulsens in early February 2023 and providing ongoing updates as we progress our plans and drilling programs during 2023.”

An update to the high-grade underground resource at Paulsens is expected to be completed in early February 2023.

This update will include a reinterpretation of the current resource based on the new geology model, as well as the initial holes drilled and assayed by Black Cat.

Additional resource upgrades at Paulsens and Coyote will be ongoing throughout 2023.

Shares in Black Cat were down 7.78 per cent, trading at 41.5 cents as of 1:30 pm AEDT.

Mr Mayes said he was incredibly proud of his time with MKL and had decided that the timing was right.

“It has been a rewarding journey as the founder and Managing Director of Mighty Kingdom and I am grateful to have been able to assume this role for the past 12 years,” Mr Mayers said.

“I remain incredibly confident about MK’s enormous growth potential and am also excited for the next chapter of my own journey.”

Shane Yeed will be taking the reins, a move which is set to be finalised over the coming weeks.

Mr Yeend is a South Australian based entrepreneur and the founder and CEO of Gamestar Interactive, which closed its first seed round at a $57.2 million valuation in November 2021.

He has over 38 years of experience in the global gaming and entertainment industries, producing interactive gaming experiences for major companies like Disney, Marvel, Lucasfilm, Sony and Mattel.

The company has also appointed Simon Rabbit as its new Chief Financial and Operations Officer. In the role he will be responsible for strategic, financial and operational business functions across both Australia and Asia.

With over 11 years of executive experience, he has worked in key leadership positions including Chief Operating Officer at Fremantle Media and Chief Business Officer at Rugby Australia.

Concurrently, the company has completed tranche two of its share placement following shareholder approval at its annual general meeting on November 28, 2022.

The company said the funds raised will be applied towards investment, driving sustainable business initiatives, entering into value accretive licensing and co-development deals, and funding new opportunities.

Shares in Mighty Kingdom were up 32.3 per cent, trading at 4.1 cents as of 4:15 pm AEDT.

In January 2021, the company was awarded a contract valued at over $2 million by the council for the upgrade of a bore water treatment plant.

The treatment plant is designed to reduce the potential scaling of pipes and improve the taste of the potable water supply to Koumala.

The company managed the full design, procurement, construction, and commissioning ofthe plant including subcontracting of civil works.

“We are delighted to have completed this project which adds to our growing portfolio of projects in the municipal water supply and water recycling sector,” CEO Willem Vriesendorp said.

“These projects strengthen our position as one of Australia’s leading water technologycompanies.”

Following successful testing of the plant, the old Koumala Water Tower was disconnected, and residents can now access an improved water supply though the new plant.

The company said the project is another excellent example of how its proprietary ion exchange technology is being adopted across Australia to address water hardness issues, while simultaneously reducing total dissolved solids to deliver higher quality and better tasting water for residents.

Shares in CNQ were up 3.37 per cent, trading at 43 cents as of 3:00 pm AEDT.

The company achieved a 72 per cent increase in subscription revenue compared to its December 2021 quarter, with monthly subscription revenue averaging $156,000 a month.

This is a new record for the business, which represents an annualised run rate of $2 million.

Other key milestones included an 18 per cent increase in customers receipts, and a 26 per cent decease in net cash used in operating activities compared to the December 2021 quarter.

The company said the quarter showed that it is continuing to demonstrate success in securing asset finance facilities that support growth in fleet size, securing supply of vehicles promptly and increasing overall subscription transaction value.

Additional asset finance facilities are also currently under negotiation and Carly said it will continue to apply its same ‘nimble strategy’ to order, acquire and introduce new vehicles into the fleet.

During the quarter, Carly placed forward orders for over 100 new vehicles.

Cash flows during the quarter included payments for research and development of $283,000, product manufacturing and operating costs of $579,000 and advertising and marketing costs of $47,000.

At the end of the December 2022 quarter, the company maintained a cash balance of $1.62 million, an increase of $1.34 million from the September 2022 quarter.

Shares in Carly were up 4.55 per cent, trading at 2.3 cents as of 11:42 am AEDT.

Mr Read will be responsible for advancing the Kalgoorlie nickel project (KNP) Goongarrie Hub through the study and project development phases.

The company says his appointment is another major milestone in advancing the Hub, which it considers a globally significant asset.

Managing Director and CEO Andrew Penkethman said the team are “thrilled” to attract someone with Matthew Read’s experience.

“Matt has the ideal blend of experience and energy to assist the Ardea Team in advancing the Kalgoorlie nickel project Goongarrie Hub through current studies to feasibility study, secure project development funding, build an owners team and deliver a successful project on time and within budget.”

With over 25 years of experience in project and commercial leadership roles, Mr Read’s most notable role includes the $10.5 billion Roy Hill iron ore project where he was the owner’s Team Contracts Manager for the Head EPC Contract.

The company said his project development, commissioning, commercial, team building and joint venture management expertise in complex major resources projects makes him suited to leading the development of the KNP Goongarrie Hub.

Shares in Ardea were down 4.71 per cent, trading at 81 cents as of 12:55 pm AEDT.

As the winner, IPX is eligible for a contract award of up to $500,000 across four phases, with the company having already completed phase one. IperionX will now undergo phases two to four as part of routine production operations at its titanium pilot facility in Utah.

IperionX will also be given the opportunity to produce titanium metal powders from scrapmaterials and rejuvenate used or out-of-specification titanium powder for the AFRL.

CEO Anastasios Arima said winning the challenge is an important validation of IperionX’s patented technologies.

“Our leading technologies can efficiently recycle titanium scrap metal and metal powders at lower cost than existing processes, and we look forward to working closely with NSIN, AFRL and other Department of Defence agencies to qualify and rapidly deploy the use of circular titanium metal across key defense platforms.”

The patented technologies were developed by Zak Fang, an American Professor of Metallurgical Engineering at the University of Utah.

The technologies also position the company to up-cycle a wide variety of low-grade, high oxygen content titanium scrap which has historically been down-cycled to lower value markets.

Shares in Iperionx were down 2.99 per cent, trading at 81 cents as of 11:10 am AEDT.

BHP Xplor provides candidates with a one-off, non-dilutive grant of US$500,000 (A$717,160) together with in-kind services, mentorship, and networking opportunitieswith industry and investors.

The company intends to use this additional grant during its recently commenced 2023 drill program to fund a number of deeper holes to test the known electromagnetic targets.

The targets to be tested appeared near the base of the ultramafic cumulate layer at the Hotinvaara nickel prospect, for “Sakatti-style” massive sulphide accumulations.

“This validates the quality and potential of our flagship Pulju nickel project in northern Finland, where we are targeting the potential for tier-one nickel discoveries in an under-explored greenstone belt with proven geological potential for large-scale critical mineral deposits,” Nordic Managing Director Todd Ross said.

“The non-dilutive funding provided by BHP, together with the ability to access their world-class networks and expertise, will put Nordic Nickel in an exceptional position to unlock the full potential of this asset over the next 12 months and beyond.”

The company confirmed there are no obligations or commitments on Nordic Nickel beyond the conclusion of the Xplor Program.

Shares in Nordic were up 5.56 per cent, trading at 28.5 cents as of 3:35 pm AEDT.

The new tenements cover 784.3 square kilometres across 253 blocks, expanding the existing project area by over 350 per cent to a total 1004.4 square kilometres.

CEO Paul Stephen said the tenement applications will expand OAR’s project footprint considerably in “this highly prospective area” once granted.

“Following recent work by our field exploration team, our confidence is further buoyed in the prospectivity of the Denchi lithium project,” Mr Stephen said.

“The presence of several lithium bearing pegmatites within the existing project area has been previously confirmed and there are visual indications of numerous additional potential pegmatites and similar geology in the surrounding areas.”

The applications follow field reconnaissance in early December 2022 which identified a number of potential lithium bearing pegmatites outcropping within granites previously mapped by the Geological Survey of Western Australia.

Shares in Oar held steady at 0.6 cents as of 2:10 pm AEDT.

Mr Reid has been the company’s exploration manager since August 2018 and was most notably a part of the original Minotaur Resources team which discovered the world-class Prominent Hill copper-gold deposit.

Mr Reid was also the founding CEO of Petratherm after it listed on the ASX in 2004.

Also joining the board is Simon Taylor as Non-Executive Director, effective today and Barry van der Stelt as Exploration Manager, effective January 30.

Mr Taylor is a resources industry executive with over 30 years’ experience in geology, finance and corporate management at CEO and Board levels.

In addition to his experience as a resource professional, he has advised companies at the corporate level on capital management, acquisitions, promotions and strategies to add shareholder value.

Mr Taylor is based in Sydney which the company said will significantly raise its profile and reach into the important eastern seaboard capital markets.

Mr van der Stelt is a highly experienced geologist with over 30 years of experience in the industry, including work in exploration, project generation, resource development and strategic planning.

For the last eight years, he managed the Chimera project for Minotaur Exploration (and then Demetallica) which led to the discovery of the Jericho copper-gold deposit, as well as several other significant copper-gold and base metal prospects in the region.

The company said the new appointments will allow the extra capacity needed to continue to generate new high value project opportunities and significantly increase PTR’s corporate and investor market profile.

Additionally, PTR believes it is well positioned heading into 2023 to hit the ground running with an “active, high quality” exploration campaign aimed at maximising the value of its project portfolio which has strong upside potential.

Shares in Petratherm held steady 6.7 cents at 12:49 pm AEDT.

The company plans to drill approximately 1000 metres, comprising six to eight holes, to infill shallow copper mineralisation ahead of an updated mineral resource estimate (MRE) planned for late March.

Results from October 2022 highlighted possible extensions of high-grade copper mineralisation at shallow levels which this drilling plans to infill.

The company is also progressing diamond drilling of conductive targets at the Canbelego Main Lode and initial results are expected before the end of this month.

Managing Director Mike Rosenstreich said the company is hoping to intersect high-grade copper shoots with the deeper diamond drilling.

“Preliminary, visual results should be available in late January,” Mr Rosenstreich said.

“The ‘near-miss’ drill outcome we reported recently highlights the unpredictable ground conditions where we haven’t drilled before and the requirement for sophisticated, highly technical directional drilling technology.”

Canbelego is a joint venture with local copper producer Aeris Resources (AIS). Helix holds 70 per cent and is the manager and AIS is a contributing, 30 per cent partner.

Shares in Helix were trading steady at 0.9 cents at 11:30 am AEDT.