Real Energy Limited (ASX: RLE)
Real Energy Limited (ASX: RLE) announced an update on its Windorah Gas Project after making progress in the project. The company’s Windorah Gas Project is in the Cooper Basin, South West Queensland and is operating on Company’s ATP927 permit. Real Energy has a 100% ownership permit at ATP927 and ATP1194PA. In the recent update, Real Energy mentioned that it has shut in both the wells for pressure build-up surveys and the company is well placed to book reserves in the near term.
The company is receiving strong buyer interest from various commercial buyers and has called for formal expressions of interest to sell up to 5pjs of gas over three years. As per the company, multiple investors are interested in providing debt financing for the expenditure required to build the infrastructure for the pipeline, which will connect Australia domestic market and LNG hubs and the company is in discussions with the interested group. In the recent achievement till February 2019, the company drilled four wells having gas discoveries, with an initial gas flow rate of 2mmcf per day and 2.5mmcf per day in Tamarama 2 and Tamarama 3 wells.
During the time of writing this report (01 March 2019, AEST 4:00 PM), Real Energy Limited’s stock ended the session in red as the stock price witnessed the downfall of A$0.025 per share or -18.519% on the Australian Securities Exchange or ASX and closed at A$0.110 per share. The market capitalization of the company stood at ~$40.72 million.
Talga Resources Limited (ASX: TLG)
Talga Resources Limited (ASX: TLG) has recently announced additional test results from Talga high energy battery anode product. Recently, the company reported its activities for the quarter ending 31 December 2018. As per the release, the company marked strong progress in the development of its Lithium-ion battery anode which trademarked as TalnodeTM during the same period. The battery anode initial testing delivered outstanding performance. The company’s graphene silicon battery anode marked a 50% higher density over the commercial graphite. In Mineral Project development and exploration, the company’s pre-feasibility test conducted at VIttangi graphite-graphene project, aimed for downstream value adding and functionalised graphene product streams. Talga completed a geophysical campaign consisting of Induced polarisation and Moving Loop Electromagnetic at kiskama project. The geophysical campaign aimed at identifying conductors and new mineralised zones. As a result of the campaign, several anomalous zones were noted in the field data, and the company further extended the survey to cover the new anomalies more thoroughly and delayed the start of the drilling.
Talga also reported the drill sampling results from the Lautakoski Project. The results included 91.8m @ 0.18% copper and 147ppm cobalt from 14m, 21m @ 0.34% copper and 182ppm cobalt. At Aitik East project undertook reconnaissance rock sampling and the samples returned 4.8% copper, 1.2g/t gold, 66g/t silver, 0.6% molybdenum and anomalous levels of tellurium and bismuth.
Due to the vanadium high demand and price, the company completed an internal review to assess the vanadium prospect located in the northeast corner of Vittangi project. As a result of the internal assessment, the company identified a vanadium target with high magnetic susceptibility rock striking.
During the time of writing this report (01 March 2019, AEST 4:00 PM), the share price of the company closed at A$0.530, up by 8.163% as compared to its previous close with the daily volume of 592,462.
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