Alex Ashton

Liontown Resources (ASX:LTR) share price is up 5% today on the back of news of an opportunity to expand initial plant capacity at Kathleen Valley, with an updated capital estimate reflecting scope changes and industry-wide cost escalation. 

Liontown Resources says Kathleen Valley is one of the most significant new long-life lithium projects being constructed in the world, and with a portfolio of three Tier-1 foundation customers, is ideally positioned to capitalise on strong forecast demand for lithium raw materials.

It says the plant capacity design can deliver a 20% increase in the initial plant throughput rate to 3Mtpa (up from 2.5Mtpa), driving increased production.

Liontown Resources says since on-site construction activities began in October last year, its made rapid progress across all aspects and remains on schedule to deliver first production from the process plant to market by the middle of next year. 

Mt Monger Resources (ASX:MTM) has commenced a major drilling program to test exploration targets at the Point Kidman and Seahorse prospects in Laverton, Western Australia.

The program includes approximately 10,000 metres of aircore and reverse circulation percussion drilling to evaluate rare earth element geochemical anomalies and an interpreted nickel-cobalt gossan at the Point Kidman prospect, and anomalous multi-element surface geochemistry results at the Seahorse prospect.

Mt Monger Resources says the program is designed to give the Company confidence that the areas contain potentially economic mineralisation.

Bellevue Gold (ASX:BGL) announced the successful completion of its share purchase plan (SPP) which closed Friday, 13 January 2023.

The SPP, which was open to 11,244 eligible shareholders, received valid applications from 3,329 eligible shareholders with a participation rate of 29.66% and an average application amount of $17,768.

The total applications under the SPP totalled approximately $59.25 million, well ahead of the original $10 million target.

The Company exercised its discretion to increase the size of the SPP to $25 million.

23,809,537 new fully paid ordinary shares were issued under the SPP and are expected to trade from 23 January 2023.

Excess application money resulting from the scale back will be refunded to shareholders.

Stemcell United (ASX:SCU) is planning a capital raising in January 2023, targeting to raise up to $1.025m to enable it to satisfy ASIC’s conditions for the Company’s reinstatement and to fund its various business activities.

The plant-based biotechnology company says funds will be used to satisfy ASIC’s conditions for the company’s reinstatement and to fund its various business activities, including activating Dendrobium sales opportunities following China re-opening, and exploring the Portland Aquaculture Fisheries Reserve offshore site and onshore sites in Portland, Victoria.

The Company is also planning Board and management changes, including the appointment of Mr Matthew Leonard as an executive director and Mr Francesco Cannavo transitioning to a part-time executive director role.

Simonds Group (ASX:SIO) has announced the appointment of Mr David McKeown as their new Chief Financial Officer, effective from today.

Mr McKeown has extensive experience in senior finance roles in both Australian and multi-national organisations, most recently as CFO of Simonds Consolidated and previously with Mercer for over a decade.

The CEO, Rhett Simonds, commented on Mr McKeown's appointment, saying they are delighted to have him join the Simonds Group and they look forward to leveraging his knowledge and insights during this exciting, transformative period.

They also thank interim CFO, Bertus Strydom, for his exemplary dedication and efforts leading the Finance team over the past several months.

Djerriwarrh Investments (ASX:DJW) has announced its half yearly report as at 31 December 2022, highlighting profit for the half year was $21.7M, 10.3% up from $19.6M in the previous corresponding period (pcp). 

Djerriwarrh Investments also highlighted its Net Operating Results for the half year was $21.3M, 17.6% up from $18.1M in the pcp.

The company says revenue from operating activities was $18.5M, 22.5% up from $15.1M in the pcp, and the interim dividend has been increased to 7.25 cents per share, from 6.75 cents in the pcp.

Shares of Djerriwarrh Investments closed around 1% higher today. 

Tanami Gold (ASX:TAM) has announced analytical results have been received for all 15 reverse circulation drill holes completed at the Ripcord gold deposit, during the 2022 field season on the central Tanami project joint venture.

Tanami Gold says results from Ripcord have returned a series of significant intercepts above 0.5 g/t gold, including 7m @ 3.21 g/t gold, 14m @ 1.81 g/t gold and 4m @ 3.79 g/t gold, confirming the presence of gold mineralisation.

It also says final results remain pending for 12 holes drilled at Jims and Groundrush during the 2022 field season, and drilling is scheduled to resume in the 2023 field season at Ripcord and Groundrush immediately after the wet season. 

Following the announcement, shares of Tanami Gold were up 10%. 

Control Bionics (ASX:CBL) has announced the appointment of Jeremy Steele as Chief Executive Officer and a member of the board, effective from 19 January 2023.

Mr Steele brings over 25 years of global corporate experience across a variety of industries, and CBL Chairman, Roger Hawke, is confident that Mr Steele's business acumen, experience and enthusiasm will drive new value creation opportunities for the business, shareholders, and employees.

Mr Steele's contract terms include a no fixed term, six months' notice (or payment in lieu) for either party, total fixed remuneration of $325,000 including superannuation, a short-term bonus of up to 50% of TFR, 2 million options with a five-year expiry and 18-month post-employment restraint period, and other terms according to the 2020 Employee Share Option Plan.

Upon the appointment of Mr Steele, Rob Wong will resign as a director.

Control Bionics is a technology company that enables disabled people to use their neuroelectric signals to control communication and movement through smartphones, tablets, computers, and robotics.

Following the announcement, shares of Control Bionics were unchanged at $0.16.

Everest Metals (ASX:EMC) has entered into an agreement, subject to due diligence, to acquire 100% of the Ninghan project, southwest of Paynes Find in Western Australia.

Everest Metals says the project is considered prospective for gold and associated metals, and includes two exploration leases which cover a combined 228 square kilometres. 

The company says its planning a geochemical program in the March 2023 quarter and will compile the results with the existing geophysical data to prepare for a drilling program scheduled in mid-2023.

Shares of Everest Metals were lower at $0.097 at the time of publication.

BluGlass (ASX: BLG) has announced that gallium nitride (GaN) laser diodes produced at its Silicon Valley production facility in Fremont are meeting or exceeding contract manufacturer performance benchmarks.

The successful transition of p-side processing from contract manufacturers to its Silicon Valley fab has enabled the company to remain on track to complete vertical integration by the end of FY23.

Reliability testing of the lasers has commenced and additional processes such as thinning, cleaving, n-metalisation and facet coating are underway.

This milestone will help to improve laser quality, consistency, and performance while significantly reducing production costs.

Following the announcement, shares of Bluglass (ASX:BLG) were up 9.09%.