This week Resource Investing News profiles Reward Minerals and TNG.
For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.
Reward Minerals is a potash-focused exploration company with several projects in the works. Those include the LD project, located in Western Australia’s Little Sandy Desert, and the Karly project in the Waukarlycarly Embayment. The company also currently has a pipeline expansion project happening though Lake Dora, Lake Winifred and Lake Auld.
Just this week the company announced an update regarding the LD project, where in March it began a drill program to increase its existing potassium sulfate resource. The first hole of the expansion is 130 meters deep and over 85 percent of the core was recovered; the second hole has reached 90 meters in depth, and core recovery thus far has been “excellent.”
TNG is an Australia-based multi-resource company whose exploration, evaluation and development focus is on the Northern Territory and Western Australia. The company’s main focus is its 100-percent-owned Mount Peake vanadium-titanium-iron project in the Arunta Geological Province in the Northern Territory.
In March, the company began a program of water bore drilling at Mount Peake. The program is intended to improve the availability of process plant water, suppress site dust and maintain a camp potable water supply.