Heading &

Deal makers are on alert for a round of consolidation in the flagging rare earths sector and in other critical metals as capital markets turn off the tap on exploration companies (reports The Australian Financial Review).

Astral Resources delivered a promising scoping study for its Mandilla gold project last week, but according to managing director Marc Ducler the best for the project outside Kalgoorlie in Western Australia is probably yet to come (reports MiningNews).

Significant levels of gallium are present at Kingsland’s Leliyn graphite discovery, which could represent a lucrative by-product that improves the project’s economics (reports Stockhead).

Canada-focused explorer Pioneer Lithium is enjoying a solid debut on the ASX after raising $5 million in an oversubscribed initial public offering (reports The West Australian).

By Barry FitzGerald | Spartan and Astral among those attracting attention; Plus, Boss chief says uranium price has to rise much further to encourage new supply.

Uranium went from red hot to white hot this week as investors piled into a revival story being driven by doubts about future supplies of energy for a global economy which is electrifying everything.

By Tim Treadgold.

Astral Resources (ASX: AAR) has continued to expand its Kamperman gold prospect with further drilling success within the 100%-owned Feysville gold project located 14km south of Kalgoorlie in Western Australia.

Reports Small Caps

Astral Resources has scoped a 100,000 ounce per annum gold development near Kalgoorlie (called Mandilla) that it says will cost $191 million to bring into production and has a net present value of $442 million using a $2750/oz gold price (reports MiningNews).

Recent diamond drilling at Nordic Nickel’s (ASX: NNL) flagship Pulju project in Finland has expanded the footprint of the key Hotinvaara prospect (reports Small Caps).

Exploration junior RareX (ASX: REE) has commenced a magnetic and gravity survey at its wholly-owned Cummins Range rare earths and phosphate project in the Kimberley region of Western Australia (reports Small Caps).