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Capricorn Metals boss quits after aggravated assault charge dropped

Capricorn Metals boss quits after aggravated assault charge dropped

The chief executive of gold miner Capricorn Metals has quit despite a West Australian court's decision to dismiss a charge of aggravated assault against him.
The ASX-listed miner said on Thursday that Paul Criddle would leave Capricorn immediately 'to allow him some time to focus on personal priorities'. Executive chairman Mark Clark will assume CEO responsibilities.
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PNN secures Pocitos water drilling approval
PNN secures Pocitos water drilling approval

Mercury

time21 minutes ago

  • Mercury

PNN secures Pocitos water drilling approval

Special Report: Power Minerals has received the green light to carry out hydrological drilling to advance its Rincon Lithium joint venture project in Argentina's Salta province. Power Minerals gets approval for hydrological drilling at Rincon joint venture in Argentina's Salta province Drilling targets industrial water source needed for direct lithium extraction operations at Pocitos project Navigate Energy poised to release US$4 million investment commitment for JV The drilling at the Pocitos project within the JV area is aimed at securing an industrial water source, which is essential for direct lithium extraction operations. This program will explore freshwater resources within the extensive alluvial fan northeast of the Pocitos salar. Finding a source of industrial water will strengthen Power Minerals' (ASX:PNN) plan to establish the Rincon JV with Navigate Energy as a lithium carbonate production hub in South America. 'Moving ahead with drilling to identify an industrial water source helps us progress our development plans,' managing director Mena Habib said. 'Pocitos has the potential to offer this required water source and we look forward to seeing what drilling will reveal.' Pocitos project The Pocitos project sits within Salta province in South America's famed lithium triangle, a region recognised as the go to destination for lithium brines drawing majors and juniors alike. Pocitos itself benefits from direct access to the General Belgrano Railway connecting to Pacific (Chile) and Atlantic (Argentina) ports, integration with existing natural gas pipelines and connection to the Cauchari and Altiplano solar farms, and support from a reliable legal and regulatory mining framework along with a skilled workforce. Ongoing infrastructural improvements such as the paving of highway Route 27, a planned high-voltage electrical connection from Cauchari, and a 435-hectare industrial park at Pocitos, add further to the project's strength. PNN adds that integration of the Rincon JV entity is nearing completion, which will release US$4 million in investment from Navigate Energy as part of its commitment. This includes funding dedicated to both Rincon and Pocitos development activities. The broader Rincon JV area has a JORC resource of 292,564t lithium carbonate equivalent at a lithium concentration of 248mg/L. Development will be through the use of direct lithium extraction, which has been proven to deliver substantial cost, water, and energy savings compared to traditional methods. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as Power Minerals gains water drilling approval to advance Pocitos lithium production hub

Health Check: Clarity shares surge after ‘fast and sizeable' $203m raise
Health Check: Clarity shares surge after ‘fast and sizeable' $203m raise

News.com.au

timean hour ago

  • News.com.au

Health Check: Clarity shares surge after ‘fast and sizeable' $203m raise

• Clarity Pharmaceuticals rocket up to 12% after its blitzkrieg placement • Artrya, Botanix and Imricor are among today's quarterly updates • Lumos outlines US market potential Radiopharmaceutical group Clarity Pharmaceuticals (ASX:CU6) has surprised investors with a monstrous $203 million institutional placement, struck at a 15% premium to the company's 15-day average price. None will be more surprised than the short sellers, who account for close to 10% of the company's register. Executive chairman Dr Alan Taylor says the 'fast, well executed and sizeable' placement was to a small group of local instos 'close to the company'. Unusually, no-one blabbed and the shares did not enter trading halt. 'I have never done a deal that fast,' Taylor told Stockhead. 'A week ago, I would have said we were not doing a capital raising, but there was a lot of interest from a very concentrated group . "The raising was struck at $4.20 a share, a 2.2% premium to Friday's close and a hefty 18% more than the 15-day weighted average price. The raising comes amid what Taylor dubs 'an incredibly tumultuous' period driven by US politics, as well as some 'unfortunate news' from local biotechs (read: Opthea's (ASX:OPT) phase III trial failure). In December Clarity shares were promoted to the ASX200, which was good for enhancing Clarity's profile. But it also contributed to shorting activity. Given the share gains, these investors are likely to be buying up stock to cover their positions. Well funded for trials Clarity emerges from the raising with $288 million of cash, which will fund the company's packed slate of trials. These include two phase III prostate cancer imaging trial aimed at US Food & Drug Administration registration, dubbed Amplify and Clarify. Amplify is for patients with biochemical recurrence post treatment; Clarify is for those intended to undertake prostate removal. Both are open label and single-arm (with no placebo and comparison cohort). Another trial on the sidelines, Co-PSMA compares Clarity's tool with the standard-of-care diagnosis methods. The company expects an initial data readout on this one before the end of the year, with Amplify and Clarify readouts next year. Clarity listed in August 2021, raising a record $92 million at $1.40 apiece. The company then went one better in April last year, raising $121 million in a right issue and placement (at $2.55 a share). The raising is one of the biggest in biotech history and the chunkiest since Mesoblast gathered $260 million in a placement in January. Imricor confident of US approval Imricor Medical Systems (ASX:IMR) is confident of US approval of its world-first ablation catheter this year. We say 'world's first' because the device is the only one capable of being guided by magnetic resonance imaging (MRI), as opposed to x-ray fluoroscopy. Imricor's submission is by way of a staggered, modular process. The company reports the second module is under review and the company expects to submit the third module in the December quarter. 'We expect a steady string of 510(k) product submissions and approvals , which in turn helps accelerate the commercial launch across the US," the company says. In the March quarter European regulators approved Vision-MR, the company's updated catheter for type 1 atrial flutter, under the Continent's bolstered Medical Devices Regulation. In the June quarter they also gave the nod to Advantage-MR, which enables a physician to use a recording system and cardiac stimulator while ablating. The European gatekeepers also approved Northstar, 'the world's only MRI-native 3D mapping and guidance system.' With June quarter receipts of US$85,000, Imricor is yet to start European sales in earnest. The company posted June quarter outflows of US$4.43 million, taking cash on hand to a handy US$50.3 million. Sales will flow this quarter, says plaque-buster Artrya Still on matters of the heart, Artrya (ASX:AYA) expects first US subscription revenue from its AI-enabled Salix coronary plaque detection platform in the current quarter. An algorithm-based artificial intelligence tool, Salix detects the plaque deposits on x-ray coronary computed tomography angiograph (CCTA) images. Despite vulnerable plaque being the cause of most heart attacks, plaque currently is not routinely reported in cardiac imaging and diagnostics. It's difficult to detect with the naked eye in traditional images. In March the FDA approved Salix Coronary Anatomy (SCA) and Artrya is now seeking the agency's consent for Salix Coronary Plaque (SCP). SCP expands applicability to detecting and quantifying coronary arterial plaque for those patients who have undergone a coronary CT angiogram. The SCP module will integrate automatically with SCA. SCA already is being trialled and in clinical use, by Artrya's customers and partners, generating a symbolic $8000 in receipts of the quarter. Earlier this month Artrya inked its first commercial deal, a five-year minimum $600,000 contract with Tanner Health. Artrya expended $5.44 million for the quarter, taking cash to $11.3 million. The company expects a $4.5-5 million R&D tax refund by the end of the year. Botanix reports 600% revenue uptick Botanix Pharmaceuticals (ASX:BOT) reports net revenue of $4.3 million from US sales of Sofdra, compared with $700,000 in the March quarter. The company launched the drug – which treat an excessive sweating condition – in the US in March quarter. The 'net' descriptor is relevant, because some folks were taken aback after the company's July 8 update which showed the extent to which other parties clipped the revenue ticket, Doctors wrote 7053 prescriptions during the quarter, 324% higher than 2975 in the March stanza. The number of prescribers rose 11%, to 2316 from 1075 previously. Launching a drug is not cheap and the company burnt $28.4 million, leaving cash of $64.9 million. Let's be CLIA, it's a big market says Lumos Lumos Diagnostics (ASX:LDX) expects its Febridx virus-versus-bacterial diagnostic tool to capture eight million US patients within three years, via its company making distribution deal with Phase Scientific. Announcing the tie up on July 16, Lumos said the deal would deliver US$2 million immediately – cash the company has, indeed, banked – and a total of US$317 million ($487 million) over six years. Detailing the arrangement on Friday, CEO Doug Ward said the company expected a total addressable market of 80 million, assuming the FDA grants a so-called CLIA waiver. The number consists of patients present with acute respiratory infections. 'Our thinking is that in years two to three we will be 2% or 3% of that,' Ward said. 'In year six, that ramps up to 10%.' As in Clinical Laboratories Improvement Act, CLIA requires hospitals and labs to operate under government accreditation Exemption from CLIA enables parties such as GPs and medical assistants to carry out the low-complexity lateral-flow assays. In financial terms, the market increases tenfold, to US$1 billion a year. Lumos is carrying out a trial to support its FDA application and has recruited close to 120 of the bacterial-positive patients required. Coming back to the finances, Phase pays Lumos another US$1.5 million on its CLIA application, expected next month. On FDA approval, Phase pays another US$5 million. That leaves US$308 million over years three to six, which Ward says is based on minimum order volumes. Lumos shares rocketed 133% on the back of the Phase announcement and have held their gains.

Australian shares gain as deal averts trade war fears
Australian shares gain as deal averts trade war fears

Perth Now

time2 hours ago

  • Perth Now

Australian shares gain as deal averts trade war fears

The local share market has moved higher after the US and the European Union agreed on a preliminary trade deal over the weekend, apparently avoiding the threat of a global trade war. At noon AEDT on Monday, the benchmark S&P/ASX200 index was up 26.8 points, or 0.31 per cent, to 8,693.7, while the broader All Ordinaries had gained 25.4 points, or 0.28 per cent, to 8,958.3. During a meeting at Donald Trump's Scottish golf course, the US president and his EU counterpart announced they had reached agreement on the framework for a trade deal, days before a US-imposed Friday deadline to strike a bargain. The details remained vague and nebulous, however. Traders were also watching for this week's Federal Reserve meeting. Despite Mr Trump's threats, a rate cut is seen as unlikely, with the futures market giving it just three per cent implied odds. ANZ's research team said it would be looking at any tweaks to the language of the rate-setting Federal Open Market Committee statement, as well as comments from Fed chair Jerome Powell that might signal the September meeting is "live" for a rate cut. Closer to home, the Australian Bureau of Statistics on Wednesday will release second-quarter inflation data that could determine whether the Reserve Bank cuts rates next month. Eight of the ASX's 11 sectors were higher at midday, with energy, materials and utilities lower. In the energy sector, Boss Energy had plunged 41.5 per cent to a more than three-year low of $1.99 after the uranium producer flagged higher costs and other challenges at its Honeywell uranium mine in South Australia, which resumed production last year. Other uranium companies were lower as well, with Deep Yellow dropping 7.1 per cent and Paladin retreating 3.9 per cent. In the materials sector, BHP was down 0.9 per cent, Rio Tinto had lost 1.1 per cent and Fortescue had retreated 0.5 per cent. All of the big four banks were higher, however, with CBA, ANZ and NAB all expanding 0.6 per cent and Westpac growing 0.3 per cent. WiseTech Global was down 0.2 per cent as the logistics platform named a new chief executive. The Australian dollar was buying 65.75 US cents, from 65.81 US cents at 5pm on Friday.

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