The market is continuing its downward trend for today, with the ASX200 around 0.8 per cent lower in early afternoon trade.
Diversified miner, Sandfire Resources (SFR), has produced first copper concentrate at its Motheo copper mine in Botswana.
The construction of Motheo is now around 92 per cent complete, with the mine on track to support an initial 3.2 million tonnes per annum processing capacity. The company plans to ramp this up to 5.2 million tonnes by early next year.
Company shares were down nearly 2.5 per cent, at $5.49.
Biotechnology company, Immutep (IMM), has dosed its first patient in Europe, in an integrated phase two and three trial to treat metastatic breast cancer.
The company is testing its drug “efti”, in combination with a chemotherapy medicine, to treat two aggressive forms of the cancer.
Immutep’s shares jumped more than 5.5 per cent on the news, trading at 37.5 cents.
Oil and gas company, Black Mountain Energy (BME), has received a proposal for the drilling of a well in the Permian Basin on its Half Moon prospect in New Mexico, USA.
The proposal comes from Manzano Energy, which offered a working interest unit and drilling of the well for around $18.8 million.
Black Mountain is now considering the proposal and will announce its decision shortly.
Company shares were down 9.5 per cent, trading at 1.9 cents.
Mineral exploration company, Riedel Resources (RIE), is ready to launch a reverse circulation drill program at its Kingman gold project in Arizona, on the back of its $2.5 million capital raise.
The program will target the Tintic prospect with first assays expected in August, before releasing a maiden mineral resource estimate.
Riedel’s shares last traded 0.5 cents.
And exploration company, Mount Ridley Mines (MRD), has received the first air-core drill results from central drilling at its Mia prospect within its Mount Ridley rare earth element project in WA.
The company struck six metres of nearly 7000 parts per million total rare earth oxide (TREO), including one metre of nearly 29,000 parts per million, with all intersections averaging a thickness of 12 metres.
Mt Ridley’s shares last traded at 0.3 cents.
