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The site will be located at Sportsmed Biologic in Melbourne, and directed by specialist sports physician Dr Phillip Bloom, who has more than two decades of clinical experience in osteoarthritis management.

This will be the first of 11 Australian sites earmarked for participation in the PARA_OA_012 study. Paradigm has also received informed consent from its first Australian patient, who will take part in the trial.

Alongside the Oz component, there will also be 48 sites in the States that are currently in advanced preparations for activation under the centralised ethics approval.

Managing director Paul Rennie said these were significant milestones for the Paradigm.

“The activation of our first site in Australia and the consenting of our first patients in Australia, with the US soon to follow, mark a significant operational achievement for the company,” Mr Rennie said.

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He continued: “I am particularly pleased to see the high level of engagement from leading clinical investigators and trial sites.

“I am also pleased that the company is progressing in line with our intended schedule.”

PAR has been trading at 30.5 cents.

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The assay results – released by SGS Geosol – showed ore from Campo Grande contains refinery-grade extractable alumina and low reactive silica, consolidating earlier results which included gallium intercepts up to 106.5 grams per tonne gallium oxide (Ga₂O₃) and bauxite intervals up to 42.1% of aluminium oxide (Al₂O₃).

This confirms that the project’s bauxite meets the standard for processing in a refinery via the low-temperature Bayer process, which is the industry standard for alumina production from gibbsite-rich ores.

SGS Geosol assessed this by placing samples through alkaline digestion under heat and pressure to mimic Bayer circuit parameters.

Equinox managing director Zac Komur said the results highlighted the value of Campo Grande – which is located in Brazil’s Bahia region – given the presence of these critical minerals.

“Recent results confirm the presence of refinery-grade bauxite, elevated gallium, and rare earth elements within the Campo Grande Project area,” he said.

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Of key importance, Mr Komur added, is the timing: “This project is along a key critical minerals trend in Brazil, at a time of increasing market focus on secure and independent sources of alumina and strategic metals.”

EQN shares rose on the news to trade at around 8.6 cents each.

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The latter will ensure Carey receives gradational royalty on iron ore sold FOB (freight on board) from the Bryah, starting at 80 cents (royalty) when the iron ore price is less than $100 per tonne, $1 when it is priced between $100 and $125, and $1.22 when iron ore is priced at more than $125 per tonne.

Expectations for Bryah have been strong following recent explorations, which have confirmed Valley Bore as being a key target for iron ore mineralisation, indicated by the outcrops of high-grade hematite and banded iron which extend over two kilometres in strike, with widths of 10 to 80 metres.

In 2024, rock-chip assays picked up grades of 64.9% Fe from the Southern Ridge target, while recent assays up to 65.9% Fe were reported from new zones found 3km to the south-west along strike.

CEO James Wilson said all indications for the project seemed promising. “We’re excited to announce the acquisition of the remaining interest in the JV exploration licences, bringing our ownership of the iron ore on these tenements to 100%,” he said.

“The project continues to deliver promising results, with high-grade iron ore rock-chip samples returning assays above 65% Fe – strongly supporting the Direct Shipping Ore potential on a granted mining lease at Valley Bore.”

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“The opportunity is particularly compelling given our strategic location 12km from the Great Northern Highway and surrounded by major players in the sector.”

ALY is trading at 0.5 cents.

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The goal of this expansion – which will see the Phase Two program increased from 2000 metres to 4,000 metres of diamond drilling – will be to grow the current mineralised footprint along strike while also going after priority targets within a wider three-to-four kilometre anomalous corridor.

Phase Two drilling was originally designed to refine structural controls to enable better targeting of potential high-grade feeder zones.

Also behind the decision to expand is Raiden’s meeting of the investment criteria for a 75% ownership in the Vuzel Project, with the company having a pathway to obtain 90% ownership through the definition of a JORC resource.

Managing director Dusko Ljubojevic said the signs that had emerged from previous drilling made this expansion an obvious but important step. “Our decision to expand the Phase Two drilling program by a further 2,000m of diamond drilling is in direct response to the highly encouraging results reported to date,” he said.

“Every hole reported from the Vuzel project has returned gold mineralisation, including numerous high-grade intercepts.”

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“Based on the results and our geological understanding to date, the mineralised system appears extensive, near surface and horizontal to sub-horizontal. These characteristics present an opportunity to rapidly and cost-effectively advance exploration, in alignment with our corporate strategy.”

RDN has been trading at 0.6 cents.

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This amounts to an increase of 186.6Mt, with 48% of the mineral resource now converted into a reserve which is estimated to comprise 1,464 ppm (parts per million) lithium and 5,444 ppm boron – or 1.92 Mt of lithium carbonate equivalent (LCE) and 7.68 Mt of boric acid equivalent (BAE).

These parameters support Ioneer’s plans to build a large, long-life, low-cost expandable operation, focused on the production of lithium carbonate, boric acid and then battery-grade lithium hydroxide.

The co-product of boric acid is expected to make up 25% of annual revenue from the project in its first 25 years; this is set to keep EBITDA (earnings before interest, taxes, depreciation and amortization) in the green at low lithium prices and EBITDA margin of65.7% based on average production over first 25 years.

Costs for the Rhyolite Ridge are some of the lowest among global lithium projects, with an all-in sustaining cash cost of US$5,745 per metric tonne lithium carbonate equivalent. Meanwhile, its after-tax NPV is placed at US$1.367 billion, with an unlevered, after-tax internal rate of return (IRR) of 14.5% – making for a suite of robust economics.

Managing director Bernard Rowe said the reserve update was testament to the value of the mineralisation there.

“Today’s updated Reserve and Mine Plan reinforces the importance of Rhyolite Ridge’s remarkable mineralogy,” he said.

“Our Ore Reserve estimate of 247 Mt containing a total of 1.92 Mt LCE and 7.68 Mt BAE make it the largest lithium-boron Reserve in the world.”

Ioneer shares have moved higher since the news, and at 13:17 AEST, they were trading at 13 cents – a rise of 8.33% since the market opened.

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The discovery – which entailed an alteration associated with IOCG mineralisation being picked up in exploration hole 25P38D001 – is significant, given that this is the first time that such mineralisation has been successfully detected using ANT.

Within this hole, Castile found one zone of distal silica-hematite alteration measuring between 253 and 277 metres – which suggests the possibility of mineralisation to the north, a zone of strong magnetite replacement of jasper with pyrite in a parasitic fold between 395.35 and 396.2 metres (which repeats the structural setting at Castile’s Rover 1 deposit), and chlorite alteration and associated disseminated magnetite with elevated copper up to 30 times background (max 770ppm) between 580.9 and 612.35 metres down hole.

The company is now aiming to build on this with a downhole magnetic survey in 25P38D001 which will seek to further constrain the magnetic source, plus an ANT survey to determine another target to drill into this initial discovery at Pathfinder 38.

Managing director Mark Hepburn said he was pleased to have completed work which had proved the value of ANT technology at Pathfinder 38.

“This successful intersection of IOCG mineralisation in 25P38D001 will prove invaluable, by allowing Castile to benchmark ANT survey results to know geology to further refine targeting for high-value Rover 1 style deposits under cover,” he said.

“Our Rover 1 Project is ready for development, and we will continue to seek out additional inventory within our Rover Mineral Field for our ‘hub and spoke’ strategy with our aggressive exploration program using the ANT technology.

“Hole 25P38D001 was 50% funded by the NT Government as part of the Geophysics and Drilling Collaboration program being run by the Northern Territory Geological Survey and we thank them for their continued support.”

Castile shares have been trading at 5.3 cents.

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The company has been conducting ongoing metallurgical variability tests on ore from the Sarytogan Graphite deposit, located in Kazakhstan’s Karaganda region, with this material – taken from the Central Graphite Zone (CGZ)- producing a concentrate between 90.5% and 91.3% TGC based on flotation test work.

Earlier flotation work had focused on composite samples from the Northern Graphite Zone (NGZ) and CGZ, achieving 81% to 85% TGC.

The much better result from CGZ alone involved 3 samples, and produced the high-grade TGC at higher recoveries of 84.7% to 86.8% on all 3. This is expected to boost the marketability of Sarytogan’s concentrate, which was previously known as Micro80C.

Managing director Sean Gregory said the result would a boost to ongoing development work on the project.

“The achievement of greater than 90% TGC in flotation concentrate from the CGZ is a greatachievement,” he said.

“The higher grade is expected to open this product to a broader market and potentially higher prices.

“These improvements will be validated with further tests for integration into the Definitive Feasibility Study underway.”

Sarytogan Graphite has been trading at 4.1 cents.

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The contract was signed through the companies’ joint venture subsidiary businesses – Underground Mining Services Burkina Faso SARL (Perenti) and SEMAFO BurkinaFaso S.A (Endeavour) – and builds on a relationship already established between this entity and Endeavour, which has involved the delivery of underground mining and support services at Mana since 2018.

This contract is set to last 60 months and will involve underground development and production, focusing on the complex’s 2 main areas, Siou and Wona.

Perenti managing director and CEO Mark Norwell said he was pleased to announce the expansion of the contract with Endeavour.

“This contract is consistent with our guidance for FY25 and will contribute strongly in FY26 and beyond,” he said.

“Our team continually delivers exceptional value for our clients, and this is clearly demonstrated by this long-term contract for expanded operations at the Mana complex.”

Perenti has been trading at $1.58.

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The S&P 500 was almost flat at the end of Friday’s session, after an intraday fall of nearly 1%, while the Nasdaq dropped 0.4% and the Dow increased by 53 points.

On the ASX, Castile Resources Ltd (ASX:CST) has detected IOCG mineralisation at its Pathfinder 38 target in the Northern Territory, Sarytogan Graphite Ltd (ASX:SGA) has achieved a concentrate of more than 90% TGC (total graphitic carbon) from flotation work done on ore from its namesake project in Kazakhstan, and Perenti Ltd (ASX:PRN) has signed a 5-year contract valued at A$1.1 billion with Endeavour Mining for delivery of underground mining services in Burkina Faso.

To commodities – all in US $ here: Iron ore is $95.80 on the Singapore Exchange, gold’s trading at $3307, Brent crude is $63.86 & natural gas is $3.52 a gigajoule.

One Aussie dollar is buying 64.4 US cents.

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Production from the facility – which is located 14 kilometres southeast of Tennants Creek – is currently built around deposits owned by Tennant Mining, which is itself a subsidiary of Pan African Resources (AIM: PAF).

As yet, it has not been determined when future processing from deposits falling under the JV will occur, with this likely to impact royalty payments.

However, Emmerson stressed that if Tennant failed to produce 60,000 ounces from the JV tenures by mid-May 2026, it would be required to make Minimum Production Payments, which would equal the 6% gross production royalty on any production shortfall (i.e. 60,000 ounces less gold produced from the JV tenements).

The minimum production shortfall is expected to be between 57,500 and 60,000 ounces (depending on actual production levels achieved by mid-March and mid-May 2026), and this will result in payment of approximately $18 million, payable to ERM in staged payments between April and August 2026.

Emmerson managing director Mike Dunbur offered his congratulations to the Tennant Mining and Pan African Resources teams for reaching commercial gold production at the facility.

“To achieve commercial gold production just four and a half years after signing the exploration Joint Venture with Emmerson and securing a number of other leases in their own name in the Tennant Creek district is a fantastic achievement,” he said.

“We look forward to working with the expanded team as development of the JV ownedgold deposits is undertaken in the coming years and look forward to receipt of the 6% uncapped gross gold production royalty from the Small Mines JV deposits.”

Emmerson shares rose after the news, and at 12:25 AEST, they were trading at 13.2 cents – a rise of 1.92% since the market opened.

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The testing showed ECS-DoT could complete a full ‘sense–think–act’ loop at 50 Herz (Hz) in PX4/Gazebo Hardware in loop (HIL) tests – meaning the chip is able to process flight data and adjust propeller output 50 times per second (50 Hz) in real-time simulation tests.

This is fast enough for many real-time control systems, facilitating the rapid feedback for stable flight; on this basis, it can be said the chip supports stability in several environments, providing flight time improvements of up to 30%.

The purpose of ECS-DoT is for use in advanced on-board, ultra-low-power AI tasks such as inspection and precision landing, while also being designed to use less power than a typical digital watch (<1 mW).

Nanoveu said the next step in its assessment will involve ECS-DoT learning and optimising its own flight strategies through advanced, adaptive-AI techniques; final results from the testing are expected at the end of June, using the PX4/Gazebo platform1 and hardware-in-the-loop (HIL) testbenches.

The completion of this testing will kick off live drone trials.

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EMASS founder Dr Mohammed M. Sabry Aly said the testing had underlined the value of this chip. “This 50 Hz milestone proves ECS-DoT can handle real-time, high-frequency control loops with extreme energy efficiency,” he said.

“It’s a crucial first step toward transforming drones into smarter, longer-flying platforms that can perform complex tasks without cloud dependence or battery trade-offs.”

NVU has been trading at 4.9 cents.

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The royalty will first be applied to the Standard Lithium–Equinor joint venture, but will also set a critical commercial precedent for all developers with projects in the Smackover Formation, including Pantera.

This royalty is expected to boost the company’s project economics in two ways: Firstly, through the protection of early-stage economics by requiring the royalty be paid only upon the sale of lithium carbonate or equivalent final product, not at the point of extraction; this would also ensure downstream margin retention.

Additionally, a royalty of 2,5% is relatively competitive and materially lower than royalty structures in other lithium brine jurisdictions, which will also improve the project economics for many companies operating in this area.

The setting down of this framework will also remove uncertainty about royalties – a boost when it comes to engagement with investors, who will also be able to see how the framework works for global lithium players.

This is expected to strengthen Pantera’s position in discussions with infrastructure, offtake, and capital market partners.

Executive chairman and CEO Barnaby Egerton-Warburton said this decision would support the company significantly.

“The AOGC’s endorsement of a structured lithium royalty is a gamechanger for Pantera and all serious developers in the Smackover Basin,” he said.

“We now operate in a regime that offers clarity, fiscal stability, and policy support for lithium as a critical mineral.”

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He added: “Combined with the Arkansas State enacting legislation to stimulate the industries growth by offering a temporary severance tax exemption that will mean lithium producers are exempt from the state’s severance tax on saltwater brine from July 1, 2028, through June 30, 2033 — a six-year tax holiday that further enhances the economic potential of Pantera.”

PFE has been trading at 1.4 cents.

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Within the assay mentioned above, WCN also found a high-grade intercept of 18.3m at 4.66 Cu and 17.2 g/t Ag, plus another mineralised zone defined by 12.19m at 1.13% Cu and 2.13 g/t Ag from 91.44; the latter suggests the presence of a sub-parallel structure.

The drilling work – which was reverse circulation – focused on the Danvers project area. The expectations for this area have been bolstered by surface chip sampling of the structure which hosts Danvers, albeit five kilometres southwest.

This yielded assays – picked up over an area of 150 metres – such as 16.15% Cu and 68.5g/t Ag, 13.3% Cu and 70g/t Ag, 9.54% Cu and 29.9g/t Ag, 7.79% Cu and 74g/t Ag.

WCN has therefore confirmed high-grade copper and silver mineralisation along a structural trend of more than 5km, and is planning step-out drilling to test the structure to the southwest.

Managing director Troy Whittaker said the recent work revealed potential hidden treasure at Danvers. “Another solid result from hole six confirms persistent high-grade copper mineralisation at Danvers,” he said.

“What is also now highly encouraging is the recognition and confirmation [that] the structural trend at Danvers is mineralised.

“With high-grade copper and silver now identifiable over more than 5km of the structure to the southwest, the potential of this area is extraordinary.”

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He continued: “The geological team digitised all historic chemical and aerial data and what is emerging from this process, and confirmed by these recent rock chip results, is that Danvers could be very large indeed… the current historical estimate is in no way indicative of the overall potential this structure.”

WCN has been selling at 2.6 cents a share heading into Friday’s trade.

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The shipment was arranged under the umbrella of BP8’s Sales Cooperation Agreement with PT. Kebula Raya Bestari, which will see the latter handle logistics and supply arrangements for the product.

MSC plans to use the product – to be delivered as 60 metric tonnes of Indonesian seaweed biomass – to make carrageenan, an additive used to thicken and stabilise food products.

BP8’s managing director, Matthew Leonard, said achieving the first shipment indicated the partnership with PT. Kebula Raya Bestari was on the right track.

“We are pleased to announce our first shipment under the Sales Cooperation Agreement with Kebula, which demonstrates the practical progress of our strategic partnership,” BP8’s boss explained in a market release today.

“Kebula’s role in managing logistics is enabling BP8 to efficiently connect Indonesian seaweed supply with international customers like MSC.”

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Mr Leonard added: “We look forward to building on this initial transaction as we continue to expand our supply network.”

BP8 rose 25% after the news and is now trading around 0.2cps.

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The windfall, ReadCloud said today, mostly came from strong organic revenue growth.

That growth was up 13% to $9.2M, while operating costs were up only 1%.

The company – which specialises in providing eLearning software to educational institutions – said VET-in-schools (the provision of vocational programs to secondary students in schools) had accounted for 32% of revenue growth, compared to the prior comparable period, with this revenue category now set at $3.8M.

Growth was also observed in the number of institutions now using ReadCloud’s technology platform: 62 new school customers joined for the 2025 school year, for a total of 429.

“Our first half results demonstrate ReadCloud’s transformation and operating leverage,” CEO Andrew Skelton said. “The 73% increase in underlying EBITDA validates the execution of strategy by ReadCloud’s motivated team.

“In particular, VET-in-Schools delivering revenue growth of over 30%, retention of 94% and gross margins above 90% indicates strong product-market fit and our ability to successfully capture the significant opportunity.”

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ReadCloud reported an operating cash flow of $1.9m generated in 1H FY25, a strong balance sheet with $3.5m of cash and no debt as of March 31.

RCL shares have been at 14 cents after a 27.7% rise since the market opened.

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The reassessment shows Kiimala to be a project made up of several gold prospects, including a near-surface orogenic gold deposit at Angesneva that contains 3.85 million tonnes at 1.19 grams per tonne of gold for 147,000oz.

Crucially, the latter is entirely within the indicated category, the company said.

Angesneva has produced a suite of high-grade intercepts, including 122.4 metres at 1.52g/t Au and 0.12% Cu from 57.2m; 79.8m at 1.85g/t Au and 0.18% Cu from 127.8m.

Other results at the site included 73.7m at 1.73g/t Au and 0.13% Cu from 247.2m, including 15.2m at 5.31g/t Au and 0.31% Cu from 272.1m.

“The additional gold resource ounces at Angesneva deliver immediate upside, bringing the total gold equivalent resource inventory to almost 1Moz AuEq, with 74% in the Measured and Indicated categories,” executive director Robert Wrixon said.

He continued: “Its proximity to Kopsa adds significant value to the regional development options currently under consideration.”

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The inventory at Kiimala Trend also includes the Kopsa project – located 40 kilometres from Angesneva – which measures 23.2Mt at 1.09g/t AuEq for 814,800oz.

NNL has been trading at 7.4 cents.

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The Chilean discovery – which includes three targets, two of which are under shallow gravel cover – was made through geochemical and geophysical work programs that followed up Hot Chili’s recent drilling at La Verde, confirming that the latter had a footprint of 1,000 metres by 750 metres.

Hot Chili began with geophysical data generated through integration of a 3D magnetic inversion model from ground magnetic data, which indicated a spatial correlation between a mineralised tonalitic porphyry intrusion and a NNE-SSW trending weakly magnetic anomaly over La Verde.

The latter is situated within a localised circular magnetic-low feature, and this relationship has been used as a basis for identifying three additional circular magnetic-low features (lookalike targets) close to La Verde; these were all set at the intersection point of major regional structures.

3D probability models for mineralisation at the targets were completed by Fathom Geophysics. An extensive soil geochemistry programme was used to guide this.

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Hot Chili will now integrate its findings into a phase two drilling program at La Verde, which was to initially focus on extending the main copper-gold discovery, but which will now include first pass drilling of the new targets.

HCH has been trading at 50 cents before open on Thursday.

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The approval – first achieved through its partnership with Union MediScience – will see ReNerve enter a Middle East and North Africa market valued at more than US$80 million per annum, and which is also experiencing significant (35%) growth.

ReNerve and Union MedScience will work together to commercialise the NervAlign Nerve Cuff in Bahrain, with a view to entering the markets of other countries across the region using data generated from early cases.

This builds on the exclusive distribution partnership already agreed upon by the two companies – announced in December 2024 – in which UnionMediScience was granted the rights to market and sell NervAlign Nerve Cuff in Bahrain, Saudi Arabia, Kuwait, the United Arab Emirates, and Qatar.

Director Dr Julian Chick said the Bahrain approval was an important first step for its goals across the Middle East. “The ReNerve team has done a great job… working with the wonderful people at Union MediScience has been excellent.”

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He added: “We look forward to the commercialisation in Bahrain and further expanding our sales and marketing efforts in the region.”

RNV shares have moved up 9.5% since open, to 11.5cps.

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The anomaly, which comes before maiden drilling next month, was picked up following Perpetual’s 220-sample soil and auger geochemical program and indicated that the strike length of the outcropping high-grade lithium-bearing pegmatite could expand to more than 1.4 kilometres.

This should open the door for further mineralisation to be found along strike, and builds on previously reported rock chip samples, which revealed more than 7% Li₂O (lithium oxide) and 5.3% Cs₂O (cesium monoxide) at the project.

Adding to this, a significant new lithium target has also been picked up through first-pass soil sampling done 2.3 kilometres southeast of the main pegmatite prospect, with results going beyond 400 ppm Li₂O.

Perpetual’s exploration manager, Allan Stephens, said this sampling work has underscored the value of Perpetual’s assets. “These latest results reinforce the scale and potential of the Igrejinha Project, with the LCT corridor now stretching over 1.4 km and remaining open along strike,” he said.

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“A new lithium anomaly highlights regional upside, supported by high-grade lithium and caesium at an artisanal working. With maiden drilling in early June, Perpetual is entering an exciting phase to unlock value.”

PEC shares have been trading at 1.3 cents.

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The latter will aim to define targets for a maiden drilling program at Skull Creek, focusing on four strategically significant prospects – County Line, Blue Mountain, Skyline, and Railroad. Sampling these will also help to define the lateral extent of widespread surface uranium anomalies.

Pioneer is bolstered in this work by previous exploration, which has yielded high-grade uranium rock chips up to 1,240 parts per million (ppm) U₃O₈ (triuranium octoxide) confirmed in Sego Sandstone and Carbonaceous Shale.

The project’s prospectivity has also been underscored by radiometric anomalies peaking at 10,100 cps detected in key target lithologies.

Chief executive officer Michael Beven said the company was building on previous assessments of the territory.

“The previous surface exploration, which comprised geological mapping, rock chip sampling and the use of a spectrometer to detect radiometric anomalies, has been successful in identifying widespread uranium mineralisation across the exposed strike length of prospective lithologies, indicating the potential for large-scale uranium mineralisation to be hosted at depth,” he said.

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Trims: An RBA cut was locked. Beijing’s identical chop spotlights larger macro forces

Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst

“The soil sampling program will enable us to potentially determine the lateral boundaries of the anomalism at the County Line, Blue Mountain, Skyline, and Railroad prospects, where known mineralisation exists prior to commencing phase two.

“Phase two will be aimed at sampling on a much broader scale [to detect] mineralised sandstone and shale layers elsewhere that are potentially buried under cover.”

PLN has been trading at 11 cents.

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