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Koonenberry Gold (ASX:KNB) jumped after it completed its acquisition of 100% of the issued capital of Gilmore Minerals which holds the high-grade Gundagai gold-copper project.
The company said the acquisition of the Gundagai project significantly strengthens the company’s position within the Lachlan Fold Belt of NSW.
The high-grade gold and copper project encompasses four target domains: Johnston’s Hill, Big Ben-Princess Marina, Snowball-Califat and Kimo, and consists of a contiguous tenement package considered highly prospective for epithermal-porphyry Au-Cu, intrusion-related and orogenic gold systems.
“Completing the Gundagai acquisition provides Koonenberry with a 485 sq. km expansion of our Lachlan Fold Belt footprint and represents a Tier-1 ‘camp-scale’ opportunity with near-term drill targets,” executive chairman, Paul Harris, said.
KNB was up 13.0% to 2.6¢ in early trade.
Legacy Minerals Holdings (ASX:LGM) was popular after a new survey defined a large and untested gold-silver target at the Mascotte prospect at its Mt Carrington project in New South Wales.
The targets were identified in results of ground-based induced polarisation (IP) geophysical surveys completed over Mascotte.
“This new geophysical survey at Mascotte has delivered exactly what we were hoping to see: several large, strong chargeability targets sitting right alongside gold-silver mineralisation we have already intersected yet have never been drill tested,” CEO and MD, Christopher Byrne, said.
“The strongest anomalies exceed 30 mV/V, and the 3D modelling shows they are continuous between our survey lines and remain open along strike.
“These are the kinds of untested targets that can lead to the next major discovery at Mt Carrington, and all are outside the existing 1.6 Moz gold-equivalent mineral resource. Drilling is already underway, and testing these targets is a priority in the current program.”
LGM was up 12.0% to 14.0¢ at the time of going to press.
LTR Pharma (ASX:LTP) has unveiled positive outcomes from a retrospective real-world cohort of 147 treatment-experienced men prescribed SPONTAN, the company’s rapid-onset intrana-sal vardenafil spray, in routine Australian clinical practice.
Executive chairman, Lee Rodne, said importantly, the real-world findings indicate that SPON-TAN may provide an alternative treatment option for men who report inadequate results with conventional oral ED therapies such as sildenafil (Viagra) and tadalafil (Cialis).
“We regard this as an important real-world dataset for LTR Pharma. The 93% response among men seeking greater convenience reinforces our belief that the opportunity for SPONTAN and ROXUS extends beyond patients who simply fail oral tablets – it includes men seeking greater spontaneity and control over their treatment,” Mr Rodne said.
“The finding that nearly two-thirds of post-prostatectomy patients reported improved erectile hardness and/or achieving penetration is particularly encouraging given the recognised difficulty in treating ED following prostate cancer surgery.
“Oral therapies may provide limited benefit for some men and patients may ultimately progress to invasive treatments such as penile injections. We believe rapid, non-invasive intranasal treatment has the potential to address an important unmet need in this clearly identifiable patient population.”
LTP jumped 12.8% to 53.0¢.
Looking wider, the S&P/ASX 200 was up earlier today, gaining 26.70 points or 0.29% to 9,259.30. Over the last five days, the index has gained 1.24% and is currently 0.40% off of its 52-week high.
Elsewhere, gaps between projected demand and anticipated supply over the next decade have narrowed for copper and lithium, but a new report from the International Energy Agency (IEA) has found risks have emerged for cobalt due to policy shifts in major producers.
The IEA says, based on the project pipeline, supply deficits for copper and lithium are set to persist through 2035, although the outlook has somewhat improved. For copper, the projected supply deficit in 2035 has narrowed from around 30% in last year’s IEA Outlook to 25% as new projects advance, particularly in the DRC and Zambia.
By contrast, a projected supply gap has emerged for cobalt due to the DRC’s new export quota. This development underscores how policy changes by major producers can rapidly reshape the global supply outlook in markets with high levels of geographic concentration.
That’s Tuesday’s HotCopper Market Trends, I’m Colin Sandell-Hay - see you for close.
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