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Australia

Medlab Clinical receives first three batches of NanaBis™ from Tasmanian Alkaloids

Medlab Clinical Ltd (ASX:MDC) has received the first shipment of NanaBis, the company's patented cannabis-based medicine, from Tasmanian Alkaloids Pty Ltd (TASALK). In line with a commercial agreement executed in January, NanaBis production and analytical services have been transferred to TASALK. This allows for manufacturing to be ramped up, increases overall product quality and supports a stronger manufacturing compliance for the Australian Therapeutic Goods Administration, US Food and Drug Administration and the European Medicines Agency. "Continues to grow"[hhmc] Medlab chief executive officer Dr Sean Hall said: “With the recent launch of the Observational Study and successful completion of the Phase 2 Advanced Cancer Pain Trial at Royal North Shore Hospital, demand for NanaBis continues to grow. “Being able to partner with TASALK is very exciting and allows Medlab to increase production capacities drastically over the short-term and therefore to meet increased demand.” I..

Australia

Trigg Mining managing director shows faith in SOP strategy with on-market purchase

Trigg Mining Ltd (ASX:TMG) managing director Keren Paterson has demonstrated her confidence in the companys sulphate of potash (SOP) strategy with an on-market share purchase. On June 2, Paterson acquired 52,000 shares in a direct interest. She now holds 52,000 fully paid ordinary shares in that direct interest and another 1.45 million loan shares in the same interest, which were acquired under a Loan Funded Plan. The MD also holds 2.498 million shares in an indirect interest. Shares last traded at 8 cents and since the close on April 1 have traded in the range from 2 cents to 8.7 cents. Road sealing boost[hhmc] Last week Trigg received an infrastructure boost for its Lake Throssell SOP Project in WA with a joint State and Federal government program to seal a 41-kilometre section of the Great Central Road. The road is a key arterial route that runs from Leonora and Laverton towards Trigg's high-grade project and the $20 million road sealing contract will assist in future pro..

Australia

Australian Potash adds $2.23 million to bank on completing rights issue

Australian Potash Ltd (ASX:APC) has completed its rights offer of one share for every seven shares held at an issue price of 5 cents, with applications received for over 70% of the entitlements offered. The company raised about $2.23 million via the rights offer which complements the $2 million placement completed in April 2020. Lake Wells Sulphate of Potash Project[hhmc] APC holds a 100% interest in the Lake Wells Sulphate of Potash Project (LSOP) in Western Australia's Eastern Goldfields. Following the release of the Definitive Feasibility Study (DFS) in August 2019, APC is focused on the Front-end Engineering Design (FEED) study, finalising offtake discussions and securing financing to develop the LSOP. Offtake deals and approvals progressing well[hhmc] APC managing director and CEO Matt Shackleton said: “The strong vote of support shown by our shareholders through this rights issue is very encouraging. “There is clear recognition of the continued good work the APC team ar..

Australia

Perseus Mining Exore acquisition will provide near-mine gold ounces

Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) is acquiring Exore Resources Ltd (ASX:ERX) (OTCMKTS:NLIOF) which will result in Perseus gaining a gold project near its Sissingué Gold Mine in Côte dIvoire. The parties have entered into a Scheme Implementation Deed which will see Perseus acquire 100% of Exore and the agreement provides a fully diluted equity value of A$59.8 million based on PRUs 10 trading day VWAP. Resources near Sissingué[hhmc] Exore will exercise its pre-emptive right to acquire the remaining 20% of the Bagoe and Liberty projects from Apollo Consolidated Limiteds in northern Côte dIvoire for US$4.5 million to obtain 100% ownership. Bagoe has a maiden JORC-compliant indicated gold resource of 90,000 ounces with a further 440,000 ounces in the inferred category and is within trucking distance of the Sissingué Gold Mine. “Creating value for shareholders”[hhmc] Perseus managing director and CEO Jeff Quartermaine said: “The acquisition of Exore results in Pe..

Australia

S&P/ASX 200 closes 0.27% higher as Australia records another current account surplus

S&P/ASX 200 (INDEXASX:XJOASX) closed 15.9 points or 0.27% higher to 5,835.1 and has now entered its sixth straight week of gains despite the uncertainty surrounding US-China tension and the civil unrest in the US. Gold prices are at seven and a half year highs and oil has bounced back strongly over the past month as the global economy reopens. Australias Reserve Bank kept interest rates unchanged at 0.25% as expected, following two rate cuts in March at the peak of COVID-19 concerns. RBA governor Philip Lowe said that while the pandemic has led to a severe global downturn, a recovery might be sooner than expected. Australias current account – which is the broadest measure of international trade – was in surplus by a record $8.4 billion in the March quarter. This makes it Australias fourth straight quarter of surpluses and net exports are expected to add around 0.5% to economic growth. Proactive news headlines: Creso Pharma raising A$2.1 million to grow cannabidiol product line fo..

Australia

Creso Pharma raising A$2.1 million to grow cannabidiol product line for human and animal health

Creso Pharma Ltd (ASX:CPH) (FRA:1X8) (OTCMKTS:COPHF) has issued shares worth A$1.837 million of the A$2.137 million placement to institutional and sophisticated investors announced on June 1, 2020. The company issued about 30.62 million shares at 6 cents each with a further 3.33 million shares to be issued on June 3 upon receipt of subscription monies of A$200,000. A remaining tranche of 1.66 million shares in respect of director participation in the placement of A$100,000 will be issued subject to shareholder approval. Accelerating CBD product growth[hhmc] Creso will deploy the funds raised from the placement towards accelerating growth across the companys existing human and animal health CBD (cannabidiol) product lines, repayment of outstanding debt and for general working capital purposes. The company owns cultivation facilities in Canada and Colombia and is the only ASX-listed company with 100% ownership over a Canadian Licensed Producer. Cresos Canadian subsidiary Mernova Med..

Australia

Northern Minerals SPP raises A$9.98 million to advance Browns Range project

Northern Minerals Ltd (ASX:NTU) has raised A$9.98 million in a strongly supported share purchase plan (SPP) with funds for continuing development of the companys projects and operation of its business centred on the Browns Range Heavy Rare Earth Project in northern WA. The SPP follows completion of tranche-1 of the companys total A$22 million placement to various sophisticated investors on April 28, which raised cash proceeds of A$6 million before costs. This resulted in NTU repaying A$3 million of the amounts owing on the A$7.5 million convertible notes issued on June 26, 2019. Strong response[hhmc] The company was very pleased with the strong response to the SPP and received applications above the targeted amount of A$5 million (before costs). NTU's board decided to accept applications beyond the A$5 million target rather than scale back applications under the SPP. Funds to progress development[hhmc] Once subscription funds have cleared, Northern Minerals expects to issue 4..

Australia

Digbee is winning banner clients with its new technically-focussed bespoke mining research

Bespoke research for high level clients Broad base of analysts at its disposal Decades of mining industry experience What does Digbee do? Digbee provides bespoke and independent technical research on mining projects. Digbees expert team of analysts run the numbers for themselves, free of any direct financial or economic pressures or inducement from the companies involved in the development of any given project, and produce a project risk profile based on a bespoke rating system. At a certain point, effective due diligence will always require a site visit. But thats by no means the case at every stage of the investment cycle. Geologists can quite easily crunch the data provided by the drill core in models created on their own desktops. Processing techniques likewise can be assessed in an independent environment, as can engineering studies. None of this necessarily needs boots on the ground, but with due diligence requirements going up and cost pressures a constant, Digbee is beginn..

Australia

Whitebark Energy subsidiary continues operations at Wizard Lake Oil Project, Canada

Whitebark Energy Ltd (ASX:WBE) Canadian subsidiary Salt Bush Energy Ltd (SBE) will continue to operate the companys Wizard Lake Oil Project in Alberta, Canada, following the cessation of operations by partner Point Loma Resources Ltd effective May 21, 2020. In April, PLX announced the sale of 97.5% of its 40% interest in the project on April 21 for C$2.9 million, with Whitebark holding 60%. However, in the present economic environment, PLX no longer has the financial capacity to continue operations and the Alberta Energy Regulator (AER) has confirmed that SBE will continue to operate the Rex1 and Rex 2 wells licensed by PLX pending formal transfer of the well licences to SBE. The changes do not affect SBEs ability to continue producing from all the wells in the field or impact its ability to carry out development operations. Working interest[hhmc] Whitebark will continue to receive approximately 90% of all production from the Rex 1,2 and 3 until payout of all pro-rata costs are cov..

Australia

Piedmont Lithium strengthens team by appointing lithium industry veteran as sales & marketing VP

Piedmont Lithium Ltd (ASX:PLL) has strengthened its team through the appointment of lithium industry veteran Austin Devaney as vice president – sales and marketing. Devaney, who has spent most of the past decade in senior marketing roles with major lithium producer Albemarle Corporation (NYSE:ALB), will play a broad strategic role with Piedmont. In this regard, he will drive relationships with the global automotive, battery and cathode companies that are the prospective customers for the battery-grade lithium hydroxide the company plans to produce in the United States. "Positioning Piedmont"[hhmc] Piedmont president and chief executive officer Keith Phillips said: “We are very pleased to welcome Mr Devaney to our senior management team. “Austin is one of the worlds most experienced lithium marketing professionals, having played a senior role with industry-leader Albemarle for most of the past decade. “His relationships with important players in the EV supply chain will be instrume..

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