Allup Silica Limited (ASX: APS) (“Allup” or “Company”) is pleased to announce recent exploration results from its Pink Bark Project in southern WA has demonstrated the project’s potential for rare earth elements (REE), uranium, graphite and kaolin mineralisation.

Key points

Further analysis carried out on samples from Allup’s 2023 drilling program has been returned with the following results:

• Significant uranium results up to 232ppm U3O8 and REE up to 980ppm for total TREE of 1,212ppm.
• Highest grade of 1,985ppm total rare earth oxide (TREO) in fresh bedrock from drill hole PB019, 21 to 22m
• Significant REE anomalism discovered in supergene and bedrock over a 7km x 7km area.
• Kaolin sampling confirms ISO Brightness, grainsize, and XRD mineralogy in four locations at Pink Bark Project.
• Raw insitu kaolin from Pink Bark is comparable to Australian kaolin deposits currently in production and demonstrates a marketable product with possible co-product silica.
• Graphite-rich bedrock intersected in the south of E63/2371, in particular in drill hole PBAC058.

APS carried out additional analysis from samples taken during its November 2023 drilling program at Pink Bark to test the underlying clays of licence E63/2138 for REE potential, and for thick kaolin accumulations over large areas. The holes were drilled to fresh bedrock (blade refusal) where possible, and the bedrock samples were assayed for multi-element geochemistry.

The Albany Fraser Province has recorded several uranium occurrences. The combined rare earth and uranium mineralisation at Pink Bark is very significant. Further drilling is required to test the mineralisation for size and grade potential.

This release focuses on the Kaolin, Uranium and Rare Earth potential of the Pink Bark Project following the results of an air core drilling program that was completed in November 2023.

Introduction

The Pink Bark Project, comprises three granted Exploration Licences and one pending application area, and is located in the Albany Fraser Province’s Biranup zone, north of Esperance. The tenement was acquired to explore and develop silica sand, but numerous recent nearby discoveries of REE clay- hosted deposits prompted Allup to consider the potential for such deposits on its tenement holdings.

The Biranup zone has been shown to be rich in valuable REE by the Geological Survey of Western Australia (GSWA) and modern explorers. A number of ASX-listed companies have reported wide areas of saprolitic clay enriched in rare earths overlying the Biranup late-stage granite intrusive rocks.

These deposits have been compared to China’s clay-hosted REE deposits, which have been a major source of REE for the country’s battery industry. In the Albany Fraser Province a number of carbonatites with rare earth potential have been reported and explored for rare earth mineralisation, and the Biranup granites are also rapidly emerging as a focus for exploration for clay and carbonatite-hosted rare earth deposits.

Kaolin

Allup’s previous work on kaolin at Pink Bark was reported in ASX Release dated 7 May 2024, where a significant Exploration Target was announced. Additional work to define other characteristics were recommended and these are discussed below.

Allup engaged Independent Metallurgical Operations Pty Ltd to complete further mineralology, brightness and yellowness testing on 10 samples from 10 different drill holes.

Based on the test work conducted on the 10 samples from the Pink Bark Project, IMO concludes that the percentage passing 45 µm ranged from 22.7% to 62.4%, averaging 36.7%.

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Livium Ltd (ASX: LIT) (‘Livium’ or the ‘Company’) is pleased to announce that its wholly owned subsidiary Envirostream Australia Pty Ltd (‘Envirostream’) – which is leading Australia’s battery recycling industry – has been awarded a -AS850k grant from the Western Australia (‘WA’) government. This funding will be used to support the development of Envirostream’s battery recycling facility in WA, marking a significant milestone in Envirostream’s efforts to build a nationwide solution for electronic waste (‘e-waste’) management.

HIGHLIGHTS

• Livium has been awarded a -A$850k grant from the Western Australian government
• The grant will be used to partially fund the development of a battery recycling facility in WA
• This grant is being awarded under the WA government’s electronic waste infrastructure grant funding program
• The development of a WA recycling facility is aligned with the Company’s strategic objective of developing nationwide collection, sorting and storage capabilities

The grant will be used to establish a cutting-edge battery sorting and dismantling recycling facility (‘WA Facility’). The WA Facility, will focus on the collection, sorting, discharge and storage of batteries. Batteries will then be transported to Envirostream’s Campbellfield facility for final processing to Mixed Metal Dust (‘MMD’) and other metals. The WA Facility is expected to play a pivotal role in transforming Envirostream’s collection capabilities and service footprint across the country.

The award of the grant follows a rigorous evaluation process by the WA government, who noted the quality, innovation, and potential impact of the WA Facility. The WA government recognises the value it will bring to the community and acknowledged Envirostream’s dedication and commitment to making a positive difference. The grant is subject to entering into a funding agreement with the WA government and customary due diligence checks, which is materially complete.

This grant forms part of the WA government’s broader commitment to e-waste recycling and is part of recently announced A$5.4m in additional grants allocated to support e-waste recycling initiatives across the state. To date, the WA government has allocated -A$10m in grants to boost the local e-waste recycling industry. This commitment underpins the importance of sustainable recycling infrastructure in WA and aligns with the Company’s objectives to drive environmental progress across Australia.

The development of this recycling facility is a core component of Livium’s strategic recycling roadmap. This roadmap envisions a comprehensive national network for battery collection, sorting, and recycling that establishes integrated end-of-life battery processing domestically.

Comment from Livium CEO and Managing Director, Simon Linge

‘This grant from the WA government represents a meaningful step forward in our mission to establish a sustainable national battery recycling ecosystem.

WA’s grants seek to increase e-waste reuse, storage, collection, processing and recycling capabilities, creating jobs and supporting WA’s circular economy. We are grateful for the support and are committed to building a facility that will contribute to a greener future by efficiently managing e-waste and recovering valuable materials. The Company’s long-term recycling strategy also involves the development of battery processing capabilities in WA and other states once minimum collection volumes are met.

By fostering local recycling capabilities, we aim to strengthen Australia’s position in the global battery recycling industry and contribute to a circular economy.’

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Piche Resources Limited (ASX: PR2) (“Piche” or the “Company”) is pleased to announce drilling results from a further eight holes at its Ashburton uranium project in Western Australia. Results to date highlight the potential for both high grade and broad zones of uranium mineralisation.

HIGHLIGHTS

• ADD003 has delivered the widest intersection recorded to date with a 39m intersection immediately above the Proterozoic unconformity.
• Equivalent U3O8 concentration from recent drillholes include:

ADD003 39.28m @ 553 ppm eU3O8 from 124.12m

incl 1.28m @ 1,460 ppm eU3O8 from 125.46m

and 0.84m @ 1,184 ppm eU3O8 from 151.54m

and 2.42m @ 2,681 ppm eU3O8 from 155.10m

and 1.90m @ 2,215 ppm eU3O8 from 161.40m

ARC008 3.86m @ 720 ppm eU3O8 from 137.36m

ARCD005 6.50m @ 639 ppm eU3O8 from 115.23m

incl 3.02m @ 930 ppm eU3O8 from 115.23m

ADD005 10.48m @ 1412 ppm eU3O8 from 114.30m

incl 2.04m @ 3508 ppm eU3O8 from 115.72m and 0.50m @ 2911 ppm eU3O8 from 119.28m

4.08m @ 2075 ppm eU3O8 from 141.94m

incl 2.04m @ 2875 ppm eU3O8 from 142.10m

1.04m @ 1918 ppm eU3O8 from 145.80m

1.04m @ 1103 ppm eU3O8 from 148.44m

• Analyses of the drill core has

1. demonstrated a northwest structural control on mineralisation
2. mineralisation along the unconformity and
3. within the overlying sandstone and the basement.

The combined reverse circulation and diamond drilling programme has exceeded the Company’s expectations, having met its original aims of confirming historical results, testing the potential northwest structural control of mineralisation, and expanding the known uranium mineralised envelope.

Results from the drilling are included in Table 1 with the drill hole details in Table 2. In total, 1,776m of reverse circulation drilling and 1,147m of diamond drilling have been completed for a total of 18 holes.

Drilling at Angelo A has confirmed the continuity of mineralisation, identified a steeply dipping mineralised structure and highlighted the undulating nature of the Proterozoic unconformity (Figure 1). A potential northwest trending structure containing uranium mineralisation was intersected between ARC004 and ARC006.

Evidence of a mineralised northwest oriented structure was encountered in ADD001, located over 1km to the northwest of Angelo A. Structural logging of this hole highlighted a shallow dipping (35 degrees) mineralised structural trending to the northwest.

The drilling programme has also confirmed historical drill results from over 40 years ago.

Diamond drill hole ADD003 identified 39.28 metres of uranium mineralisation (Figure 2), highlighting the potential to expand the area of mineralisation at both the Angelo A & B prospects, and along strike to the northwest and southeast.

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Major pharmaceutical players Eli Lilly (NYSE:LLY), AbbVie (NYSE:ABBV) and Pfizer (NYSE:PFE) reported mixed Q3 results, with each company facing distinct market forces, ranging from supply issues to financial constraints.

In its latest quarterly report, released on Wednesday (October 30), Eli Lilly missed on sales expectations for Zepbound, its popular weight-loss drug, and Mounjaro, its diabetes medication. Despite growing US demand for these products, supply chain management issues impacted the company’s ability to meet Wall Street’s expectations.

According to Reuters, Eli Lilly dropped 8 percent on the news, reducing its market valuation by nearly US$70 billion.

CEO David Ricks said stock management issues with wholesalers were a major factor in the shortfall, noting that distributors were navigating storage and financial constraints that affected order volumes.

Eli Lilly’s Q3 report indicates that Zepbound and Mounjaro collectively contributed US$4.37 billion to the company’s revenues, falling short of analysts’ projections of US$4.89 billion. The company has revised its 2024 profit forecast.

For its part, AbbVie reported a year-on-year decrease in net income, driven primarily by increased operating costs.

The company recorded a 12 percent drop in net income for the third quarter, amounting to US$1.56 billion, while net revenues grew to US$14.46 billion, reflecting a 3.8 percent increase from the previous year.

AbbVie’s CEO, Robert Michael, underscored that the company has seen strong commercial execution and pipeline growth, leading it to increase its guidance for the remainder of the year. He also confirmed a quarterly dividend increase.

In Q3, the company incurred a rise in operating expenses, which totaled US$10.63 billion, up 9 percent from the previous year. The increase was attributed to research and development costs and strategic acquisitions.

AbbVie’s earnings also reflected an increase in pre-tax income, which rose by 5 percent year-on-year to US$2.08 billion for the quarter. The firm’s total revenues for the first nine months of 2024 climbed to US$41.23 billion, marking a 3 percent increase from the previous year, despite some challenges associated with operating costs.

On Monday (October 28), AbbVie announced plans to acquire privately held Aliada Therapeutics, a biotech company specializing in treatments for neurological disorders, for an estimated US$1.4 billion. The purchase will support AbbVie’s commitment to expanding its research and treatment capabilities in neurological and other specialty areas.

Meanwhile, Pfizer reported higher revenues, supported by strong sales of its COVID-19 therapies Paxlovid and Comirnaty.

The company’s quarterly revenues for Q3 totaled US$17.7 billion, up 31 percent year-on-year. This increase contributed to Pfizer’s revised guidance for the year, with projected revenues now estimated at US$61 billion to US$64 billion.

CEO Albert Bourla attributed the company’s performance to steady demand for COVID-19 medications, in addition to cost-control measures implemented during the quarter. A spike in COVID-19 cases contributed to heightened demand for Paxlovid, while Pfizer’s acquisition of Seagen bolstered revenues through additional sales of cancer treatments.

Pfizer’s adjusted financial outlook for 2024 reflects projected sales of up to US$64 billion, with estimated contributions of US$5 billion from Comirnaty and US$5.5 billion from Paxlovid for the year.

The company also reported growth across several key product lines, including Eliquis and Xtandi, though some products, like Xeljanz and Ibrance, saw declines due to regulatory changes and price pressures.

It’s worth noting that activist investor Starboard Value has reportedly acquired a US$1 billion stake in Pfizer, equivalent to 0.6 percent of the company’s total shares. Its aim is to ignite a turnaround at the company.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Fission Uranium (TSX:FCU,OTCQX:FCUUF) has expanded its uranium exploration portfolio in and around Northern Saskatchewan’s Athabasca Basin by staking four additional properties.

According to the company’s Thursday (October 31) press release, the new sites, called Typhoon, Corsair, Merlin and Seahawk, encompass thousands of hectares and are situated near established uranium-producing areas and deposits.

Typhoon, which is located approximately 20 kilometers south of Fission’s flagship Patterson Lake South (PLS) project, covers 3,867 hectares. Geological surveys from past decades, including a 1969 airborne radiometric survey and a 2013 electromagnetic survey, revealed conductors suggesting possible graphitic fault zones.

These zones, common hosts for uranium mineralization, have yet to be drilled. Given Typhoon’s similar geological structure to PLS and its unexplored potential, Fission considers it a promising site for high-grade uranium.

The Corsair property, located 110 kilometers east-southeast of the PLS project, spans 3,481 hectares across three non-contiguous claims. Situated close to Cameco’s (TSX:CCO,NYSE:CCJ) Centennial uranium deposit and near significant fault zones, the Fission team believes Corsair benefits from a favorable geological position.

Historic exploration identified electromagnetic conductors associated with graphitic faults. Although earlier work focused on larger fault zones, Fission intends to evaluate the potential in areas overlooked in previous drilling campaigns.

Merlin, the smallest of the newly staked properties, covers 808 hectares and is located 36 kilometers from Cameco’s Key Lake uranium mill. Previous drilling near the site in 1981 uncovered anomalous uranium concentrations, though additional exploration has been limited. Fission’s preliminary assessment indicates that more focused drilling could yield further insights into Merlin’s resource potential, as the initial results suggest uranium presence in conductive fault zones.

Seahawk, at 6,293 hectares, is the largest of the four properties and lies about 33 kilometers southeast of the Athabasca Basin. It covers a 29 kilometer section of the Needle Falls shear zone, which Fission said is known for rock formations that often host uranium deposits. Previous work encountered mineralization indicators such as cobalt and nickel.

Additionally, radioactive boulder trains near Seahawk, documented in the 1970s, add to the site’s potential for uranium, though Fission notes that the exact source of these boulders remains unidentified.

Ross McElroy, Fission’s president and CEO, said the new properties support the company’s efforts to diversify and expand its holdings in the Athabasca Basin, which is known for its high-grade uranium deposits.

In June, Australia’s Paladin Energy (ASX:PDN,OTCQX:PALAF) announced plans to acquire Fission in a transaction valued at C$1.14 billion. The companies are currently awaiting Investment Canada Act clearance for the deal.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.