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February 04, 2025
Inca Minerals Limited (ASX: ICG) (Inca or the Company) is pleased to announce that it has entered into a binding Bid Implementation Agreement to acquire Stunalara Metals Limited (Stunalara) via an off market takeover bid (Bid). If successfully completed, Stunalara shareholders will be issued a total of ~ 300,000,000 fully paid Inca shares (being ~ 22.6% of Inca post Bid assuming no other shares are issued).
Stunalara Highlights
- Stunalara is a public unlisted Australian exploration company with projects in Queensland, Tasmania and Western Australia.
- Stunalara’s key asset is the high-grade gold & gold-antimony Hurricane exploration project in North Queensland (NQ) that has multiple undrilled high-grade gold & gold-antimony prospects developed from rock chip and grab sampling.
- Gold Prospects
- Cyclone – up to 4.9 g/t (Au)
- Cyclone North – up to 7.4 g/t (Au)
- Monsoon – up to 4.0 g/t (Au)
- Hurricane North – up to 45.7 (Au)g/t
- Hurricane South – up to 41.5 g/t (Au)
- Tornado – up to 17.6 g/t (Au)
- Typhoon – up to 71.6 g/t (Au)
- Gold-Antimony Prospects
- Bouncer South – Antimony (Sb) up to 20.8% & up to 7.9 g/t Au
- Holmes – Sb up to 29.0% & up to 21.7 g/t Au
- Holmes South – Sb up to 43.2% & up to 5.2 g/t Au
- Pederson West – Sb up to 5.3% & up to 2.2 g/t Au
- Gold Prospects
Transaction Highlights
- At a deemed Inca share price of $0.006, the Bid consideration of 300,000,000 Inca shares implies a value of $1.8 million for Stunalara (fully diluted).
- Stunalara shareholders will be offered 6.448981 Inca shares for every 1 Stunalara share held, valuing each Stunalara share at ~4.5 cents each (Offer)1.
- The Offer will be subject to standard conditions including, that, at or before the end of the Offer period, Inca has a relevant interest in at least 90% of all Stunalara shares on issue (on a fully-diluted basis).
- Stunalara has engaged an Independent Expert to advise Stunalara shareholders on the fairness and reasonableness of the Offer as Inca director, Mr Andrew Haythorpe, is also a Stunalara director and holds a ~18.6% Stunalara shareholding. Stunalara has also established an independent board committee.
- ASX has confirmed that Listing Rules 11.1.2 and 11.1.3 do not apply to the transaction.
- Subject to there being no superior proposal and the Independent Expert concluding and continuing to conclude that the Offer is either fair and reasonable, or not fair but reasonable:
- Inca has been informed by Andrew Haythorpe that he intends to accept the Offer twenty-one days after the Offer becomes open for acceptance with respect to all Stunalara shares owned or controlled by him; and
- Inca has been informed the Stunalara Board will unanimously recommend that all Stunalara shareholders accept the Offer.
- Under the Bid Implementation Agreement, a mutual reimbursement fee of $100,000 may be payable in certain circumstances by either Inca or Stunalara.
- Further details about the Offer, conditions to the Offer and proposed timetable are set out in the Bid Implementation Agreement which is attached as an annexure to this announcement.
Inca’s CEO, Trevor Benson commented:
“Having carefully considered a number of acquisition proposals since I was appointed as CEO last year, it became abundantly clear that Stunalara was a standout opportunity. Its high-grade gold & gold-antimony Hurricane Project in NQ presents a unique opportunity to explore a project with multiple strongly mineralised veins which have historical workings but have never been drilled.”
“In addition, the under explored Mt Reid project in Western Tasmania is located in an area where multiple significant precious and base metal deposits have been discovered, developed and mined over the last 100 years.”
Click here for the full ASX Release
This article includes content from Inca Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
30 May
Appeals Court Grants Trump Temporary Reprieve on Tariffs, "TACO" Taunts Gain Steam
US President Donald Trump scored a temporary reprieve in his ongoing trade war efforts after a federal appeals court stayed a lower court’s decision that struck down most of his global tariffs.
The Thursday (May 29) decision allows the administration’s controversial import duties to remain in place for now.
The decision by the US Court of Appeals for the Federal Circuit provides breathing room for Trump and his trade team as they prepare a full appeal, following a blistering Wednesday (May 28) night ruling by the US Court of International Trade that invalidated nearly all of the Trump-imposed tariffs not tied to national security.
The trade court found Trump overstepped under the 1977 International Emergency Economic Powers Act, saying it “does not confer such unbounded authority” to enact sweeping economic penalties without congressional oversight.
The decision jeopardized key components of Trump’s aggressive tariff program — including a blanket 10 percent import tax and recent “reciprocal tariffs” targeting countries like China, Canada, Mexico and members of the European Union.
But for now, the tariffs will remain in effect. The appellate court granted the Trump administration’s request to pause enforcement of the trade court’s order “until further notice while this court considers the motions papers.”
The next hearing is set for June 5.
White House reacts swiftly, blasts judicial overreach
Trump administration officials reacted with fury to the trade court’s initial decision, describing it as an affront to executive authority in foreign policy and economic matters.
“The political branches, not courts, make foreign policy and chart economic policy,” the White House said in its appeal filing. White House Press Secretary Karoline Leavitt expressed similar concerns on Thursday, saying:
“America cannot function if President Trump, or any other president for that matter, has their sensitive diplomatic or trade negotiations railroaded by activist judges.”
Trump himself took to social media on Thursday morning to vent, writing: “Hopefully, the Supreme Court will reverse this horrible, Country threatening decision, QUICKLY and DECISIVELY.”
He later added: “This would completely destroy Presidential Power — The Presidency would never be the same!”
Peter Navarro, Trump’s top trade advisor, also signaled that the administration was already exploring alternatives, stating that even if it lost the battle in the Supreme Court, it “will do it another way.”
The Wednesday judgment had required the White House to make changes within 10 days.
The administration responded by notifying both the trade court and the appellate court of its intent to challenge the ruling all the way to the Supreme Court, if necessary.
“TACO trade” meme gains steam as Trump backpedals
Adding to the storm surrounding the tariffs is growing traction of the term “TACO trade” — a satirical acronym coined by Financial Times columnist Robert Armstrong that stands for “Trump Always Chickens Out.”
The phrase has caught fire on Wall Street and social media, referring to Trump’s habit of threatening steep tariffs, only to roll them back amid market backlash or diplomatic pressure.
The phenomenon was on full display last month, when Trump announced what he called “Liberation Day,” unveiling sweeping tariffs as high as 145 percent on imports from nearly every major trading partner.
Within a week, those tariffs were scaled down to a baseline 10 percent. Duties on Chinese goods were first reduced to 30 percent and then to 10 percent, while deadlines for tariffs on European goods were postponed.
On Wednesday, visibly irritated by the nickname, Trump lashed out at a reporter who asked about the “TACO trade” label. “Oh, I chicken out. Isn’t that nice? I’ve never heard that,” Trump said, bristling at the question.
“You call that chickening out? It’s called negotiation,” he added.
“Six months ago, this country was stone cold dead. We had a dead country. We had a country that people didn’t think was going to survive. And you ask a nasty question like that," Trump continued.
Despite his protests, “TACO trade” has become a viral symbol of his erratic approach to global commerce. California Governor Gavin Newsom mocked the administration after the trade court ruling, saying, “It’s raining tacos today.”
So far, the administration’s tariffs on steel, aluminum and cars remain untouched by the ruling.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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29 May
Two Lithium Zones Confirmed in Latest Drill- Hole at Red Mountain Project, USA
Result supports Exploration Target, successfully intersecting lithium under cover
Astute Metals NL (ASX: ASE) (“ASE”, “Astute” or “the Company”) is pleased to report assay results from the second hole of its April 2025 diamond drilling campaign at the 100%-owned Red Mountain Lithium Project in Nevada, USA.
Key Highlights
- Diamond drill-hole RMDD005 intersected two zones of lithium mineralisation under alluvial gravel, returning:
- 9.1m @ 1,350ppm Li from 57.9m, within a broader low- grade zone of 80.8m @ 860ppm Li from 12.2m;
- 8.3m @ 1,210ppm Li from 240.8m to end-of-hole, within a broader zone of 15.9m @ 955ppm Li from 233.2m to end-of-hole
- RMDD005 is the first drill-hole at Red Mountain to successfully intersect ‘blind’ mineralisation.
- Hole ended in lithium mineralisation, with the mineralised zone remaining open down-dip to the east and along strike.
- Assays pending from four other recently completed drill- holes.
Drill-hole RMDD005 returned two intersections of lithium mineralisation:
- 80.8m @ 860ppm Li / 0.46% Lithium Carbonate Equivalent1 (LCE) from 12.2m, including an internal high-grade zone of 9.1m @ 1,349ppm Li / 0.72% LCE from 57.9m;
- 15.9m @ 955ppm Li / 0.51% LCE from 233.2m to end-of-hole, including an internal high- grade zone of 8.3m @ 1,209ppm Li / 0.64% LCE from 240.8m to end-of-hole.
Drill-hole RMDD005 is the first hole at Red Mountain to test for mineralisation interpreted as part of the recently announced Exploration Target (ASX release 12 February 2025) under significant alluvial cover (Figures 2 and 3). The hole was designed to test the lower extent of mineralisation in the eastern zone of Target Area A, before passing through a zone of unmineralised rocks, and then testing a second, western zone of interpreted mineralisation (see Figure 2). The hole successfully intersected both interpreted zones of mineralisation, separated by a weakly mineralised sequence of mostly conglomerate and breccias.
This result reinforces the Company’s understanding of lithium mineralisation at Red Mountain, providing further confidence in the geological model as work programs continue to progress. The more moderate grades intersected in RMDD005, which was located centrally within the project area, also lend support to the Company’s emerging interpretation that the northern part of the Red Mountain Project is likely to host a high-grade zone of lithium mineralisation.
Assays are pending for a further four holes drilled as part of the April diamond drilling campaign, which are expected to be received by the end of the financial year.
Astute Chairman, Tony Leibowitz, said:
“The results from this latest hole at Red Mountain are very encouraging, intersecting lithium mineralisation under cover exactly where the technical team expected it to be. This provides increased confidence in the geological model that underpins the Red Mountain Exploration Target as we rapidly advance towards the planned delivery of a maiden JORC Mineral Resource Estimate later this year.
“Our exploration at Red Mountain to date indicates significant scale potential, with lithium mineralisation confirmed over a strike length of almost 6 kilometres. This latest drilling is continuing to firm-up these results and reduce risk, successfully intersecting lithium between holes to delineate an increasingly robust and coherent body of mineralisation.”
Click here for the full ASX Release
This article includes content from Astute Metals NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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28 May
Phase 1 Drill Program – Operational and Geological Progress Update
McLaren Minerals Limited (ASX: MML) ("McLaren" or "Company"), is pleased to provide a further update on the phase 1 Drill Program at its wholly owned McLaren Titanium Project in the western Eucla Basin, Western Australia. This update is driven by the completion of geological interpretation of all the drilling during this campaign, in the absence of laboratory results.
Highlights
McLaren Titanium Project
- 192 drill holes completed for a total of 4,067 metres, on time and without incident
- Significant extensions of prospective sediments outside of currently known resource boundaries observed during drilling:
- North extension: approximately 2,200m wide, avg. 14m thick (max 23m),
- Central zone eastern extension: 800m wide, avg. 20m thick (max 23m),
- Southern zone: 2,600m wide, avg. 10m thick (max 15m).
- Potential impact on the Mineral Resource Estimate will be evaluated as part of the PFS Resource update
- Metallurgical and geological samples submitted to IHC and Diamantina Laboratories
- Geological work has improved confidence in deposit morphology and is expected to reduce future drilling costs
- Strong community support confirmed within an established mining region
McLaren Mineral Sands Managing Director, Simon Finnis, commented:
“While we have not yet received any assays, phase 1 has delivered strong confidence to our team regarding this project. The most recent interpretation not only confirm the integrity of our geological model, but importantly, demonstrates the scale of the opportunity ahead. Defining substantial potential for mineralisation outside the current Resource boundary positions us well for future resource growth. We’ve also made solid ground operationally—drilling was completed on time, we’ve brought costs down, and we’re seeing strong local support. Taken together, these outcomes give us a great deal of confidence as we move toward the next phase of work and continue building long-term value for shareholders.”
Click here for the full ASX Release
This article includes content from McLaren Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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28 May
Retentions Granted on High Grade Zone Licenses
Titanium Sands Limited (“TSL” or “the Company”) is pleased to announce that it has received notification from the Geological Survey and Mines Bureau (“GSMB”) that the Company’s application for the retention of the term of licenses EL423, EL424, EL425 and EL351 have been granted. The retentions have been granted for a further 1-year term, expiring between mid-November 2025 and mid-December 2025.
Highlights
- Retentions have been granted by the GSMB for EL423, EL424, EL425 and EL351
- The four retentions granted are contained within the high-grade zone identified in the 2023 Project Scoping Study
- Following issue of the Terms of Reference (TOR) by the GSMB in March 2025 the EIA process is underway
- The retentions granted provide approvals for the project consultants to complete the environmental studies and address the requirements of the TOR
- On completion of the EIA, the Company will be in a position to apply for an Industrial Mining License for the Project
The four EL’s form part of the high-grade zone as outlined in the Company’s Scoping Study (ASX:TSL 12/05/231). The retentions granted allow the environmental consultants to conclude environmental studies (EIA) on the project and to address the requirements of the recently granted Terms of Reference (TOR) for the Project (ASX:TSL 26/03/252).
On completion of the EIA process, (ASX:TSL 24/10/233), the Company will be in a position to apply to the GSMB for an Industrial Mining License (“IML”) which will allow the GSMB to proceed to issuing the IML subject to all relevant laws and regulations.
TSL’s Managing Director, Dr James Searle said“Receiving the ToR in March 2025 and now the license retentions for the Project is a further step towards obtaining the IML for this project. The Government of Sri Lanka are showing great support in progressing this project and the Company is solely focused on delivering a high-grade producing mineral sands operation once all regulatory approvals are in place”.
Click here for the full ASX Release
This article includes content from Titanium Sands Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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23 May
QEM Limited (ASX: QEM) – Trading Halt
Description
The securities of QEM Limited (‘QEM’) will be placed in trading halt at the request of QEM, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 27 May 2025 or when the announcement is released to the market.
ASX Compliance
Click here for the full ASX Release
This article includes content from QEM Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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22 May
Queensland Strengthens Trade Presence with First Office in Shenzhen
The Crisafulli government has opened a Trade and Investment Queensland (TIQ) office in Shenzhen, China.
According to a May 16 statement, the state sees Shenzhen as a gateway to the Greater Bay Area, and as a recognised major hub for technology, advanced manufacturing and finance.
“This new office brings Queensland’s trade footprint in China to six locations, Beijing, Shanghai, Guangzhou, Chengdu, Hong Kong and now Shenzhen, providing on-the-ground support across China’s major economic centres,” said Minister for Finance, Trade, Employment and Training Ros Bates.
Queensland opened a trade office in Chengdu in 2016, and one in Guangzhou in 2007 as part of the state's strategic initiative to strengthen economic ties with China's Guangdong province. The first TIQ office in China was opened in Shanghai in 1996, following a sister state agreement made between Queensland and Shanghai in 1989.
The deal was renewed in 2023, with Queensland calling China “an important trading partner.”
Recently, Bates led a trade mission in China with a delegation to HOFEX 2025, one of Asia’s largest trade expos. At the expo, 15 Queensland companies generated AU$3.99 million in export outcomes and secured 191 new trade leads.
According to the government, TIQ offices in the Greater Bay Area have already driven more than AU$46 million in commercial outcomes for Queensland businesses over the past seven months.
The Queensland-China Trade and Investment Strategy identifies strategic priorities to support business opportunities in areas such as health, advanced manufacturing, energy, food and agribusiness and education and training.
It is intended to strengthen the Queensland-China trade and investment relationship to support clients, investors and education providers to achieve commercial success and jobs growth in key opportunity areas.
The strategy also aims to deepen commercial ties with China, while ensuring Queensland businesses remain globally competitive, an important move considering the recent trade disputes between the US and China.
“Queensland is back on the global stage, and we’re open for business," said Bates.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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