en.Wedoany.com Reported - Zenith Minerals shares rose after the company agreed to be acquired by Forrestania Resources in an all-share offer, with an exchange ratio of 4.3 Zenith shares for 1 Forrestania share.
The offer values Zenith at A$0.132 per share, a 46.7% premium to the last closing price. The acquisition will allow existing shareholders to continue participating in the exploration, development, and regional consolidation of the merged company, which focuses on Western Australia and holds an asset portfolio covering the Southern Cross, Forrestania, and Eastern Goldfields mineral belts.
Directors holding approximately 4.5% of Zenith shares have indicated they will accept the offer for their entire holdings. This follows growth at the company's Consolidated Dulcie gold project, which has defined a resource of 21.3 million tonnes at 1 g/t gold, containing 675,000 ounces, along a 6-kilometer corridor.
Sparc Technologies has secured a commitment from Vietnamese paint manufacturer Petro Vietnam Paint to use its ecosparc graphite-based additive in the production of the PERAPHENE range of protective coating products. Designed for highly corrosive environments, PERAPHENE is the first international product series to incorporate ecosparc.
PV Paints' decision to commercialize ecosparc in its PERAPHENE coating range was based on internal and third-party test results demonstrating improved anti-corrosion performance. The product is expected to achieve commercial availability in the third quarter of 2026. PV Paint General Director Vũ Duy Cường stated that the new coating incorporating ecosparc meets C5-high corrosivity category requirements at lower dry film thicknesses, outperforming comparable coating systems.
Although the inclusion of ecosparc in PERAPHENE does not involve binding purchase commitments, Sparc views it as a significant commercial milestone and a meaningful step towards adoption in global protective coating applications.
Locksley Resources surged today on heavy volume, despite no news released on the day. Last week, initial drilling at the El Campo target within the Mojave project in California discovered rare earth mineralization rich in neodymium and praseodymium.
Significant intersections include 7.2 meters from 35.4 meters grading 2.93% total rare earth oxides (TREO), including 3.75 meters at 4.45% TREO, with a peak interval of 0.7 meters at 6.03% TREO. Neodymium-praseodymium oxides, essential for permanent magnets, defense technology, robotics, and advanced manufacturing, account for approximately 25% of the TREO content.
Drilling results confirm that rare earth mineralization extends below surface outcrops and remains open along strike and at depth within the broader El Campo mineralized corridor. The company also noted that drilling at the Desert Antimony mine confirmed the continuity of high-grade stibnite (antimony) mineralization along a north-south trend beneath historical underground workings. The last two of eight drill holes returned a peak grade of 6.44% antimony over 0.3 meters in hole DADD0007.
Viridis Mining and Minerals also saw its share price rise on heavy volume without any news released today. Earlier this month, the company signed its first major contract for the Colossus rare earth project in Brazil, entering into a binding agreement with municipal power distributor DME for the construction of dedicated power transmission infrastructure required to connect the project to the grid.
This includes permitting, engineering, procurement, and construction of a dedicated 3.2-kilometer, 138kV high-voltage transmission line from the nearby Saturnino substation to the Colossus project, along with an initial reservation of 27MW of power capacity to support first-phase operations. Viridis has secured reserved grid capacity from December 2027, aligning with its development timeline and supporting its target path towards first production in the first half of 2028.
DME will provide a fully integrated turnkey delivery solution, with a single responsible party for permitting, engineering, procurement, construction, and energization, substantially reducing execution and interface risks. The fixed-price connection package is valued at approximately US$800,000, payable upon delivery of the package, providing cost certainty without exposure to engineering or construction cost overruns.
Viridis has also received bids for critical electrical infrastructure packages, with execution activities continuing to accelerate, and expects to make a final investment decision in the second half of 2026. The company recently produced its first batch of mixed rare earth carbonate from a large-scale, state-of-the-art demonstration plant.
Pilbara Gold expects to receive initial assay results from drilling at its 2.1 million ounce Mt York project in the Pilbara region of Western Australia shortly. Since early April, the company has completed 5,680 meters of diamond drilling at the Main Hill, Main Hill Extension, Gossan Hill, and Gilt Dragon targets.
Three diamond rigs are currently operating on double shifts, with two additional reverse circulation rigs expected to be mobilized to the site this month to accelerate progress. The planned drilling program of over 50,000 meters is the largest in the company's history and will test the depth extensions of the large gold system in preparation for a resource update.
Assay results are still pending for four drill holes that intercepted strong veining and alteration zones at the Gilt Dragon target, southeast of Mt York. Visual logging has identified moderate to strong arsenopyrite development, typically a key indicator of high-grade gold mineralization within the project area. Pilbara Gold also plans to conduct a regional airborne electromagnetic survey over the greater Mt York area to search for new sulfide-bearing gold systems.
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