Elixir Energy Ltd (ASX:EXR) MD Neil Young tells Proactive the company is on course to spud the Daydream-2 appraisal well within its Grandis Gas Project in Queensland’s Taroom Trough in the last week of October. The gas exploration and development company last month contracted the services of global oil field services company SLB (previously known as Schlumberger) for the provision of the SLB 185 rig. The rig is currently on another project in Queensland and should be released from operations by mid-October and subsequently, mobilised to the Daydream-2 location.

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Stelar Metals Ltd (ASX:SLB) CEO Colin Skidmore tells Proactive the company has completed a successful reconnaissance sampling program over its newly acquired Trident Lithium Project near Broken Hill in NSW, strongly establishing the prospectivity of the tenure with rock chip and soil sample results of more than 5% and 1,756 parts per million (ppm) lithium respectively. The samples were taken from the historical pegmatite mine at Trident in July with five of seven rock chips returning very high lithium results in excess of 5%. The company has completed independent Environmental, Cultural and Heritage Assessments in preparation for an inaugural drill program which Stelar will begin in the coming months, subject to approvals.

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Kingston Resources Ltd (ASX:KSN) MD Andrew Corbett tells Proactive the company has taken total recent capital raising proceeds to $6.5 million after completing a strongly supported share purchase plan for $1 million. The $6.5 million when added to the company’s cash in hand of $11.54 million at the end of May 2023 means Kingston is well funded to progress its growth plans centred on the Mineral Hill polymetallic project in central New South Wales. The funds come as the company gears up for a new growth phase on unveiling an updated Life of Mine (LOM) plan for Mineral Hill. This forecasts production to the middle of 2027, with a total output of 123,000 ounces of gold equivalent payable while the company will also transition from gold and silver ore production to add gold, copper, lead and zinc concentrates by the end of 2024.

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Mayur Resources Ltd (ASX:MRL) MD Paul Mulder speaks with Proactive soon after announcing the company has signed a term sheet with Vision Blue Resources - a clean energy related investment firm led by Sir Mick Davis. It’s for an investment of US$40 million for a 49% equity share in MRL’s Central Lime Project in Papua New Guinea. He says the proposed investment will be sufficient to satisfy the total equity funding required for completion of the project’s development and construction works, implement onsite carbon reduction initiatives and enter commercial production. The project is fully permitted and construction began in June this year with early revenues expected in the first half of 2024.

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Volt Resources CEO Prashant Chintawar joined Steve Darling from Proactive to share the company's Phase 1 Feasibility Study Update for the Bunyu Graphite Project in Tanzania.

Chintawar explained that the Stage 1 graphite project aims to be established with a relatively modest capital expenditure. This approach will enable Volt Resources to develop the necessary infrastructure, initiate graphite production at a rate of 24,780 tonnes per annum, generate initial revenues, and position Bunyu as a prominent global supplier of graphite products.

The updated feasibility study indicates a capital expenditure of $33.1 million for the Stage 1 project. This investment is projected to yield a project lifespan of 13.7 years, almost double the duration of the previous study. These figures support a project that would generate a total EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $169.6 million over the operating period, an internal rate of return (IRR) of 31.5% before tax, a net present value (NPV) of $58.9 million before tax, and a payback period of 2.9 years before tax.

Upon successfully commissioning Bunyu Stage 1, Volt Resources intends to progress to Stage 2 later in the decade. The goal of Stage 2 is to leverage the foundation established by Stage 1 and capitalize on Bunyu's substantial graphite resource. This would lead to a substantial increase in production capacity, aiming to reach 170,000 tonnes per annum, which would align with the anticipated rise in global demand for graphite products.

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Erdene Resources Development Corp CEO Peter Akerley joined Steve

Darling from Proactive to share news the company has announce results of an updated independent Feasibility Study for the open-pit Bayan Khundii Gold Project in southwest Mongolia.

Akerley telling Proactive the numbers have been much improved including after-tax Net Present Value of 170 million (NPV5%) and 35.3% Internal Rate of Return, increasing to US$196 million and 38.95% IRR, respectively, at current gold price of US$1,900/oz. Life of Mine Earnings Before Interest, Taxes and Depreciation of US$451 million, increasing to US$495 million at a US$1,900/oz gold price. Total recovered gold of 476,000 ounces, a 25% increase compared to the 2020 Feasibility Study from an average gold recovery rate of 93%. Measured and Indicated Resources of 674,700 ounces gold at an average grade of 2.6 g/t gold, and 319,000 ounces silver at an average grade of 1.38 g/t silver. The company also sees room for groth with adjacent high-grade resources and recent discoveries provide high probability for expansion. The company, with it strategic alliance with MMC, Mongolia’s largest independent miner, is moving towards production. Early construction works is underway with first gold and cash flow expected in 2025.

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Copper X Mining CEO Peter Berdusco joined Steve Darling from Proactive to to share significant news. The company has entered into an agreement for metallurgical testing of materials at the Jupiter Copper Project, a step crucial for its due diligence review process. Copper X will provide samples for testing with the aim of assessing whether the ore from the Jupiter site can be efficiently extracted for copper using an environmentally friendly, single-step method.

Berdusco explained that this extraction method involves a molten salt reaction followed by electrolysis within a single metal container. The upcoming metallurgical analyses will determine whether samples from the Jupiter site can be effectively separated and plated. The initial testing will also establish the appropriate size for comminution, utilizing three different crushed material sizes. Importantly, these tests will employ original samples from the Jupiter site, without any further upgrading beyond basic crushing. This approach will help determine whether the material is suitable for the direct extraction of copper.

This strategic move underlines Copper X Mining's commitment to responsible and efficient resource extraction, as well as its focus on due diligence to ensure the viability and sustainability of the Jupiter Copper Project.

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Westwater Resources Chief Commercial Officer John Jacobs joined Steve Darling from Proactive to discuss several significant developments within the company. Jacobs recently appeared in Charged EV's magazine, where he shared his insights regarding the Inflation Reduction Act and its implications for the battery industry.

In the interview, Jacobs provided updates on the company's Joint Development Agreement with SK-On and a Letter of Intent with Dainen Material. He expressed satisfaction with the progress made with SK-On, indicating that material optimization based on testing feedback is underway, and discussions for off-take agreements are ongoing. Notably, Westwater Resources sent samples of their latest CSPG-10 and CSPG-18 materials to various companies across the U.S., Japan, Korea, the EU, and more. These companies are currently conducting tests, and the feedback is expected in the coming months.

Jacobs also delved into the Kellyton plant construction, a pivotal element in Westwater's supply chain strategy. He mentioned that the initial installation of micronizers and shaping mills has commenced, with purification and coating facilities to follow. Equipment installation is slated to commence later this year. The progress at the Kellyton plant signifies Westwater's commitment to supplying high-quality materials to cell manufacturers, further positioning the company as a prominent player in the battery industry's growth.

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Tribe Property Technologies CEO Joseph Nakhla joined Steve Darling from Proactive to the company has unveiled a strategic collaboration with KnockNok, an innovative app dedicated to connecting individuals seeking home maintenance and repair services with skilled handymen. Nakhla highlighted that this partnership aims to establish a comprehensive solution catering to diverse household maintenance and repair needs. The app offers an array of over 50 services, encompassing tasks ranging from cleaning, appliance repairs, plumbing, and heating to various home improvement projects.

Tribe's residents will enjoy exclusive benefits through this partnership, including preferential rates, enhanced care, priority service, and a 60-day warranty for all booked service requests made via the platform. The integration of KnockNok's services will be facilitated through the Tribe Market platform, a dynamic marketplace designed to enhance efficiency and financial convenience for residents of Tribe's multi-family communities.

By expanding its offerings through collaborations like this, Tribe not only aims to streamline residents' lives but also benefits from compensation from partners for platform usage. Additionally, partners commit to extending unique offerings to Tribe's homeowners and tenants, capitalizing on Tribe's collective purchasing influence. This strategic partnership exemplifies Tribe Property Technologies' commitment to providing exceptional value and convenience to its community members.

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ARway Corp CEO Evan Gappelberg joined Steve Darling from Proactive to share exciting news about the company's latest developments. ARway Corp has secured a new paid pilot contract with a prominent lifestyle destination in Southern California, encompassing over 1.2 million square feet and featuring more than 130 stores, restaurants, and entertainment venues.

Gappelberg explained that this pilot project involves navigation and augmented reality experiences within the expansive complex. The initial pilot program is slated to run for 90 days, and upon successful completion, it could pave the way for a full-scale rollout and the establishment of an annual six-figure contract. This partnership demonstrates ARway Corp's potential to enhance the visitor experience and engagement at popular retail and entertainment hubs.

Gappelberg further highlighted that ARway Corp has been making significant strides in diversifying its clientele. The company has recently inked paid pilot agreements with esteemed entities, including a prominent brand design agency in India and a technology company based in the Middle East. These pilots, varying in cost from $5,000 to $15,000, are projected to last several months and are expected to evolve into annual sales contracts, showcasing ARway Corp's growing market presence and commitment to delivering innovative AR solutions.

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