Azure Minerals Limited (ASX: AZS) DE Mem Ltd (ASX: DEM) Lion One Metals Limited (ASX: LLO) Rally On Big Volume

Sector Reports > Latest News > ASX > Azure Minerals Limited (ASX: AZS) DE Mem Ltd (ASX: DEM) Lion One Metals Limited (ASX: LLO) Rally On Big Volume

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Azure Minerals Oposura Mine Milestone

Azure Minerals Limited (ASX: AZS) was a big mover rallying by more than 25% on announcing outstanding results from its small scale mining program at the Oposura-zinc-lead-silver mine. The open-pit mining program uncovered massive zinc and lead sulphides mineralization exceeding the mineral resource estimate of the deposit.

The 6,100 tonnes of high-grade ore mined and stockpiled came out with about 13.4% zinc and 10.7% lead. According to the managing director, Tony Rivera, the average grades mined exceeded the 2018 Oposura Scoping Study that indicated 5.1% zinc and 2.6% lead.

Azure Minerals intends to kick start Oposura ore throughput in the December quarter with plans in place to produce separate zinc and lead-silver concentrates. The concentrates should be sold in the spot market to locally-based metal dealers, most of whom have expressed strong interest. Returns from the small-scale mining program should be able to fund a definitive feasibility study as the mining company eyes large-scale mining.

Lion One Metals Fiji Gold Development

Lion One Metals Limited (ASX: LLO) was also up by more than 20% after providing an update of its 100% owned high gold Tuvatu Alkaline gold project on the island of Viti Levu Fiji. The company is in the process of commencing a first stage exploration program to explore for gold.

While utilizing an exploration technique dubbed Bulk Leach Extractable, the exploration and mining company intends to analyze fine-grained gold fraction taken from the Caldera. The second stage will involve a geophysical survey that utilizes Controlled Source Audio Frequency Magnetotellurics to obtain high-resolution 3D image of the subsurface to a depth of up to 1,000m.

“Over the last 50 years some notable exploration syndicates and mining companies have worked in the area, but until Lion One secured tenure over the Navilawa volcanic complex, no single company has been able to explore the consolidated, district-scale project area systematically,” said Lion One Managing Director Stephen Mann

De.mem Booming Decentralized Water Treatment Business

DE Mem Ltd (ASX: DEM) was up by more than 20% after announcing it is on track to become the biggest player in the decentralized water treatment business in Australia and the Asia Pacific. Backed by a suite of proven, disruptive, and easy to scale membrane technologies, the company is moving with speed to target the decentralized water treatment systems market set to reach $21.8 billion by 2021.

The company boasts of a wide range of water treatment systems made up of membrane-based systems, aerobic and anaerobic systems as well as chemical dosing systems to target the big market. Some of its blue-chip customers include Rio Tinto as well as Bechtel, Civeo, and Ausco.

Dem is already growing its recurring revenue at an impressive rate and is on course to register sustainable operating cash positive. Revenues clocked an all-time high of $10.5 million in 2018 up from just $0.3 million as of 2015. The company is on course for yet another record-breaking year on revenue growth as it has already surpassed the $10.5 million mark. A strong cash position of $3.5 million means the company is well-positioned to implement strategic initiatives to accelerate growth.

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