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Australia

Red River Resources hits up to 32.3 g/t gold in Eleanora drilling at Hillgrove project in NSW

Red River Resources Ltd (ASX:RVR) has intersected broad intervals of gold-antimony mineralisation with results of up to 32.3 g/t gold and 6.9% antimony from maiden drilling targeting the Eleanora Lode at Hillgrove Gold Project in NSW. The results have confirmed the presence of high-grade gold-antimony within the Eleanora vein system and adjacent halos of low to medium-grade gold mineralisation. Drilling has now begun at the Currys Lode target as the company firms up gold targets at the project ahead of the planned resumption of gold production at Hillgrove by the end of 2020. Some high-grade intersections of up to 32.3 g/t gold, including visible gold, demonstrates that there is a significant remnant resource which Red River will continue to pursue, given Eleanora is 200 metres from the Hillgrove processing plant and on a mining lease. Strong results[hhmc] Assays have been received for drill holes ELG139, ELG140, ELG141, ELG142, ELG143 and ELG144 with best results including: 7 me..

Australia

Netlinkz secures commitments to raise $11.3 million via the issue of convertible notes

Netlinkz Ltd (ASX:NET) has received firm commitments from investors to raise $4,995,000 by the issuance of 6,166,664 convertible notes, with cash proceeds to be used to repay current loan facilities with Lind and CST which will extinguish those facilities. In addition, Netlinkz has agreed to issue a further 7,793,980 convertible notes in settlement of existing debt totalling $6,313,125. As a result, the company will issue a total of 13,960,644 convertible notes for $11,308,125 along with 104,704,820 free attaching options. The options have an exercise price of 10 cents each (to convert into fully paid ordinary Netlinkz shares) and an expiry date of two years from the date of issue. “Greater financial flexibility to deliver growth”[hhmc] Netlinkz executive chairman and chief executive officer James Tsiolis said: “We are pleased to have secured this funding and with the repayment of the loans our balance sheet will improve. “We now have greater financial flexibility to deliver grow..

Australia

Australian Vanadium fields strong placement demand with $5 million raised to advance projects

Australian Vanadium Ltd (ASX:AVL) has received strong demand for a placement which has raised $5 million with funds to be used to advance the company's vertically integrated battery metals strategy, including a bankable feasibility study at its namesake vanadium project. Firm commitments have been fielded from existing shareholders and new investors for the placement of more than 357 million ordinary fully paid shares at a price of 1.4 cents each. The placement represents about 14% of the companys existing shares while the offer price represents a 10.02% discount to the 15-day VWAP of 1.56 cents and a 17.65% discount to the last closing price of 1.7 cents. AVL managing director Vincent Algar said he was delighted with the response to the placement and that the funds raised put the company in a strong financial position moving forward. Funding project development The Australian Vanadium Project is AVLs primary focus, with funds to be applied towards the delivery of the bankabl..

Australia

Fe Limited to investigate gold potential along shear from recent De Grey discoveries

Fe Limited (ASX:FEL) (FRA:B4T) will investigate the potential for intrusion-related shear-hosted gold at its Pippingarra tenements along shear from the recent gold discoveries of De Grey Mining Limited (ASX:DEG) (OTCMKTS: DGMLF) which have drawn global focus to the Pilbara region of WA. Suspected sheared mafic intrusions have been identified at Pippingarra with this area of interest directly along shear to the northeast of De Greys recent discoveries including Brierly, Hemi and others. FELs tenement has a similar geological environment to that hosting the Hemi project which hosts in excess of 2.2 million ounces and the company will immediately begin exploration. “Most exciting area for gold exploration”[hhmc] FEL chairman Tony Sage said: “Although the main focus of the company is getting our two near-term iron ore deposits into production, we should not pass up the opportunity to investigate the gold potential of these tenements. "Its the most exciting area for gold exploration in ..

Australia

Animoca Brands acquires NinjaStickers™ securing additional MotoGP™ assets

Animoca Brands Corporation Ltd has acquired the business and trade name of NinjaStickers, which provides MotoGP, Moto2 and Moto3 non-fungible token (NFT) collectable stickers. The company has acquired NinjaStickers from SingularCK Limited for an undisclosed sum, obtaining additional MotoGP licence rights and assets. Following the acquisition, Animoca Brands will market and sell the NinjaStickers MotoGP-branded assets on its digital collectables subsidiary Quidd, Inc. NinjaStickers NFTs are now purchasable on OpenSea with payment in REVV tokens. Valuable experience[hhmc] Animoca co-founder and chairman Yat Siu said: “MotoGP is watched by an audience of over 400 million people worldwide and shown by more than 100 media broadcasters, and Animoca Brands is now a major provider of blockchain goods for MotoGP, Moto2, and Moto3. “Previously these licensing rights were split between Animoca Brands and NinjaStickers, so this consolidation makes strategic sense and will provide a better and..

Australia

9Spokes receives shareholder approval for second A$4 million tranche of $10 million placement

9Spokes International Ltd (ASX:9SP) has been given the green light by shareholders at the annual general meeting for the issue and allotment of the second tranche of 111.8 million shares to raise a further A$4 million. This completes a $10 million two-tranche placement which is expected to fund the companys operations for the next two years. It is expected that settlement of the second tranche shares will occur on Wednesday, September 30, 2020, with allotment on Thursday, October 1. Focus on business development Chief executive officer Adrian Grant: “We thank our shareholders for the endorsement of the placement. “Closing the second tranche ensures that we can continue to maintain our momentum, focus on product and business development, and customer engagement.” Funds to secure new clients The management app company said the funds, together with its existing cash, would go towards securing new SaaS banking clients organically and through the recently announced Visa and Fundation..

Australia

Minotaur Exploration enhances share purchase plan to $2.1 million following strong investor demand

Minotaur Exploration Ltd (ASX:MEP) has scaled back its share purchase plan (SPP) after receiving applications for $3.4 million while the target was to raise $1 million only. Following the strong support from shareholders, Minotaur has decided to increase the size of SPP to $2.1 million, which it plans to spend on the companys fully-owned Australian projects. “Very gratifying result”[hhmc] Minotaur chairman Roger Higgins said: “This is a very gratifying result, replicating the recent over-subscribed Placement and signifying shareholders con­fidence in the company and its suite of projects. “Minotaur will work to invigorate its wholly-owned portfolio and the Board looks forward to realising their potential.” SPP details[hhmc] The company has decided to allocate shares to at least 75% of the subscriptions from eligible shareholders with a holding of 10,000 shares or more. Accordingly, Minotaur will allot 42.3 million new shares at a price of 5 cents a share to raise a total of $2.1 m..

Australia

MMJ Group Holdings set to capitalise on WeedMD investment as company scales up

MMJ Group Holdings Ltd (ASX:MMJ) (OTCMKTS:MMJJF) is focused on adding to its portfolio of investments in the cannabis value chain in Australia, Canada and Europe. The addition of WeedMD Inc. (CVE:WMD) (OTCMKTS:WDDMF) (FSE:4WE) in September 2019 is proving to be valuable, with the company producing cannabis products for both the medicinal and adult-use markets in Canada across its three branches – StarSeed Medical Inc, Color Cannabis and CX Industries. WeedMe announced a C$2.5 million capital raising in March 2020 which strengthened its balance sheet to support its growth plans. StarSeed Medical Inc[hhmc] The unique direct-to-consumer medical platform StarSeed Medical is the market leader in insured medical cannabis. StarSeed focuses on captive patients with benefits plans and insurers to launch customized insured medical cannabis programs to uniquely pair a care service model with medical-grade cannabis. This targets valuable and overlooked medical channel sales with a closed-loop..

Australia

Manganese producers set to strike gold after Tesla unveils shift to new generation of batteries

Manganese producers are set to strike the proverbial pot of gold after the world's biggest electric car maker, Tesla Inc (NASDAQ:TSLA) (FRA:TL0) announced a major shift in its battery strategy – the move to manufacture its own batteries incorporating manganese and nickel. Tesla's aim to drive down the cost of its electric cars will see the company producing its own new generation of batteries that will be more powerful, longer-lasting and half as expensive than the companys current cells. More power and greater range[hhmc] Teslas new larger cylindrical cells will provide five times more energy, six times more power and far greater driving range, according to Tesla chief executive officer Elon Musk. Full production is about three years away, Musk said at Teslas Battery Day on Wednesday. Manufacture own batteries[hhmc] We intend to increase, not reduce battery cell purchases from Panasonic, LG & CATL (possibly other partners too). However, even with our cell suppliers goin..

Australia

S&P/ASX 200 rises 1.73% to snap four-day losing streak

S&P/ASX 200 (INDEXASX:XJO) recovered from a three-month low and a four-day selloff to rise 100 points or 1.73% to 5884 by around 1.30 pm. Tech stocks in the US provided a solid platform for the index to rise with the largest 40 companies by market cap on the ASX all rising. Local buy now, pay later players have surged with Afterpay (ASX:APT) rising 3.96% and rival Zip Co (ASX:Z1P) up 2.81%. US update[hhmc] On Tuesday, the major US indices snapped multi-day losing streaks, all closing in the green. The Dow Jones Industrial Average surged 140 points and the S&P 500 climbed 1.1%. The tech-heavy Nasdaq Composite was the relative outperformer, rising 1.7% as Amazon.com, Inc (NASDAQ:AMZN) surged 5.7%. Stock gains were capped by concerns about an uptick in COVID-19 cases in the UK coupled with a bleaker outlook for a second stimulus bill from the US Congress. U.S. COVID-19 deaths topped 200,000 on Tuesday, according to data compiled by Johns Hopkins University. Top gainers[hhmc] Today..

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