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Hastings Technology Metals Ltd (ASX:HAS) Third Offtake MOU Agreement Signed with Qiandong Rare Earth Group

September 12, 2017, 7:11 pm
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Hastings Technology Metals Limited's (ASX:HAS) (Hastings or the Company) is pleased to advise that it has signed its third Memorandum of Understanding (MOU) with Qiandong Rare Earth Group (GQD). Under the MOU the parties have outlined their intent to enter into a binding commercial offtake agreement for the sale by Hastings and purchase by GQD of Mixed Rare Earth Carbonate ("MREC"), which will be produced from Yangibana, Western Australia. The framework for the commercial offtake agreement is set out in the MOU, and the final terms and conditions will be formalised in a contract.

HIGHLIGHTS

- Hastings announces its third MOU with Qiandong Rare Earth Group for the future supply of Mixed Rare Earth Carbonate from Hastings' Yangibana project in Western Australia.

- The parties have agreed to enter into discussions to formalise a commercial offtake agreement for Hastings to sell 1,500 tonnes of Mixed Rare Earth Carbonate (MREC) per annum to Qiandong Rare Earth Group.

- This third MOU agreement is for a period of three years with an option to extend for two years.

- Total of three MOUs signed so far represent approximately 40% of planned MREC annual production from Yangibana.

INTRODUCTION

The Parties have undertaken to negotiate in good faith to reach agreement for a commercial offtake contract within 12 months from the date of the MOU. Pricing for the MREC will be based on a formula taking into account prevailing market prices prior to shipment.

Charles Lew, Hastings Executive Chairman, said "This third MOU for an offtake agreement with GQD provides confidence that a strong demand market exists for the Company's high quality NdPr product. Prices for NdPr have increased by approximately 85% in 2017. Our production samples from the pilot test work earlier in the year contained over 40% NdPr of Total REOs. The exciting news announcement over the weekend of China's plans to set a deadline for the ban of fossil fuel vehicles will accelerate the move towards electric vehicles. This follows similar announcement from France and the UK to ban fossil fuel powered cars. The trend towards the electrification of transportation will lead to an increase in the demand for NdPr through the next decade and beyond, and Hastings will be a new source of NdPr to the market."

The Parties have additionally acknowledged that any commercial offtake agreement is contingent on Hastings starting operations and production of MREC from the Yangibana mine, and with any additional conditions usually included in commercial off-take contracts.

Hastings estimates an annual production quantity of 15,000 tonnes of MREC, which it will sell to offtake partners, with production projected to commence in 2H 2019.

GQD

Qiandong Rare Earth Group( called "GQD" for short), is an established leading manufacturer of rare earth derived products. The company is located in China's ionic clay deposits region of Ganzhou and was founded in March 1988.

GQD, through its 11 subsidiary companies, has formed an advanced rare earth industrial supply chain from mining to finished components. GQD has been able to supply more than 60 different rare earth products and related materials, including rare earth oxides, metals, compounds, alloys, magnetic materials and phosphors, etc.

After nearly 30 years' development, GQD has established business relationships with multiple customers in Asia, America and Europe. 

Charles Lew
Executive Chairman
T: +65-9790-9008

Aris Stamoulis
Director Corporate Finance
M: +61-455-105-607
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Australian Bauxite Ltd (ASX:ABX) Half Yearly Report and Accounts

September 12, 2017, 9:27 pm
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Australian Bauxite Ltd (ASX:ABX) provides the Company's Half Yearly Report and Accounts for the half-year ended 30 June 2017.

REVIEW OF OPERATIONS

Corporate

- In May 2017, at Australian Bauxite Limited's (ABx) Annual General Meeting, all resolutions put to the meeting were passed on a show of hands.

- Group cash balance was $1.1 million as at 30 June 2017.

- Number of shareholders approximately 2,700.

Operations

Sales

Continuing on from 2016 total sales of approximately 46,000 tonnes of cement grade and fertiliser grade bauxite, ABx announced on 27 July 2017 that it had finalised the sale of up to 33,000 tonnes of cement grade bauxite from its Bald Hill mine near Campbell Town, northern Tasmania (see Figure 1 in the link below) to a repeat customer. Logistics contracts were finalised promptly and delivery is well advanced. As at 12 September, some 25,000 tonnes have been delivered to Bell Bay port and the full shipment is expected to be delivered to port by 19 September, two to three weeks ahead of schedule.

While this current sale cargo is being transported to Bell Bay port, a further 45,000 tonnes of bauxite will be blended from existing mine stockpiles at the Bald Hill bauxite project at Campbell Town in northern Tasmania in preparation of future sales. ABx is in negotiation with further potential customers.

Project inspections by two major customers were held in early September and the professionalism of the supply process carried out by ABx and its contractors impressed the reviewers.

ABx bauxite is a dust free aggregate, ideal for transport and is very stable in stockpiles. ABx bauxite is rigorously processed by Stornoway contractors at the Bald Hill quarry, carefully transported pit to port by Dave Wagner & Son P/L and efficiently managed at Bell Bay port by QUBE Logistics in conjunction with TasPorts.

Stocks

Currently, ABx has over 190,000 tonnes of bauxite stockpiled in Tasmania:

- 36,500 tonnes of cement grade and fertiliser grade bauxite in its product stockpiles

- 84,700 tonnes of grade controlled, ready for blending bauxite;

- 33,000 tonnes of screened material ready for classification into product categories when required; and

- 36,700 tonnes of broken ore stocks ready for screening for future needs

TasTech Process Technology Verified

The completion of the large scale bulk testing of the TasTech processing technology at the Fingal Rail project in Tasmania confirmed that ABx can produce high specification bauxite from large tonnages for long term contracts enhancing ABx's business. Typical achievements of the TasTech processing technology were a ~25% upgrade of low grade bauxite samples to produce ultra-cleaned metallurgical-grade bauxite; cement-grade bauxite and fertiliser-grade bauxite. ABx plans to fund the introduction of the TasTech processing technology into its ongoing operations from existing cashflow.

Bauxite Refining Technology under evaluation

ABx has been granted a global exclusive licence for a bauxite refining technology that produces aluminium fluoride as its main product and a suite of by-products from Tasmanian-type bauxite:

1. Pure bauxite Al2O3.3H2O (Zero Silica Bauxite) Value: US$ 100 per tonne

2. Pure iron-ore Fe2O3 Value: US$ 100 per tonne

3. Pure silica SiO2 Value: US$2,700 per tonne

4. Pure titania TiO2 pigment Value: US$2,500 per tonne

5. Aluminium fluoride AlF3 (main product) Value: US$1,000 per tonne

The clean chemistry of ABx's bauxite is ideal for this technology which can also capitalise on the availability in Tasmania of all inputs needed, namely highly skilled workforce at the Bell Bay heavy industrial zone, renewable hydro-electricity, all necessary chemical reagents available fertiliser and zinc production in Tasmania. The technology is a zero-discharge process - all outputs are saleable products.

Summary: Bauxite refining converts Tasmanian bauxite which is valued at US$50 to US$70 per tonne into a suite of products worth in excess of US$800 per tonne of bauxite processed.

This represents a more than 10-times increase in value per tonne.

Exploration

ABx has declared bauxite resources totalling 124 million tonnes (see Note below) in eastern Australia - see Figure 8 in the link below

Binjour Project, Queensland

ABx and its Indian marketing partner, Rawmin Mining and Industries Pvt. Ltd (Rawmin) has commenced an assessment of ABx's bauxite resources around Binjour, totalling 28 million tonnes (see Note below). Binjour is located 115 kms from the Bundaberg port (see Figure 2 in the link below).

Production may commence at ABx's long term mining lease at Toondoon ML 80126 (see Figure 2 in the link below) which has an inferred resource 3.5 million tonnes of bauxite (see Note below) with potential extensions into the surrounding ABx exploration permit.

The project assessment also covers ABx's high grade discovery at Brovinia, south of Toondoon.

Negotiations with local, state and federal governments are in progress.

Binjour bauxite would be marketed to overseas based clients introduced by Rawmin.

Fingal Rail Bauxite Project Tasmania

ABx concluded bulk mining and processing trials at the Fingal Rail site in northern Tasmania which processes ore from both Fingal Rail and Bald Hill projects using the TasTech technology.

The Fingal Rail project, located 14kms north of Bald Hill Bauxite project, holds significant cement-grade bauxite resources that are ideal for large scale production and sited near the rail line. Fingal Rail resources total 6.3 million tonnes (see Note below) and is the most likely second mine for ABx, operated by the same team that operates at the Bald Hill project.

ABx's total resource base for Tasmania is currently 12 million tonnes (see Note below).

Penrose Pine Forest Quarry, New South Wales

On 27 February 2017 ABx announced its discovery of a high quality refractory grade low iron grey white bauxite at a quarry in the Penrose Pine Plantation approximately 90 kms inland from Port Kembla. Refractory grade bauxite is used for heat containment and abrasives and can sell for 5 times the current price of metallurgical grade bauxite, possibly a new high priced market for the Company's products.

The deposit is close to transport infrastructure and suited for quarrying during pine forest harvest cycles.

Extensions to the mineralisation has been secured by an additional tenement granted in June.

Commercialisation potential: The deposit has potential for high profitability even at modest tonnage rates, supplying cement and high margin refractory industries.

Through ABx's marketing partner, Rawmin of India, ABx is making enquiries with manufacturers of these high-value refractory bauxite products to assess the potential for early development.

Negotiations have commenced with a company that specialises in the refractory and abrasive bauxite industry. Considerable test work and bulk sampling will be required to optimise the development of this high quality bauxite discovery.

Note:

1 Maiden Tasmania Mineral Resource, 5.7 million tonnes announced on 08/11/2012

To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/N4F19KA4 

Ian Levy
CEO and MD
Australian Bauxite Limited 
T: +61-2-9251-7177
M: +61-407-189-122
E: corporate@australianbauxite.com.au
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Speedcast International Limited (ASX:SDA) Honored at 14th Annual Awards for Excellence in Satellite Communications

September 13, 2017, 3:00 pm
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Speedcast International Limited (ASX:SDA), the world's most trusted provider of highly reliable, fully managed, remote communication and IT solutions, announced today that it has been honored as the winner of the "Strategic M&A Transaction of the Year" award for its acquisition of Harris CapRock at Euroconsult's 14th Annual Awards for Excellence in Satellite Communications.

"We are thrilled to be honored by Euroconsult for our acquisition of Harris CapRock," said Pierre-Jean Beylier, CEO, Speedcast. "The deal altered the landscape of communications solutions provided to the energy and cruise industries. Customers now have access to more coverage, a greater local presence, increased flexibility, a broader array of product and services options, as well as a clear pathway for them to upgrade their communications as the markets require."

The awards recognize companies and their leaders who are transforming and driving the satellite industry, as well as contributing to growth and innovation. They are based on a performance analysis of the market players and assessed by a jury of experts from Satellite Finance and Space News, as well as Euroconsult's analyst team. Quantitative and qualitative indicators are taken into account in the assessment.

The awards ceremony took place Sept. 13 in Paris, during the 21st World Summit for Satellite Financing.

For more information about Speedcast, visit http://www.Speedcast.com 

Media Contact Information:
Toni Lee Rudnicki
Vice President, Global Marketing
Speedcast International Ltd
T: +1-832-668-2634
E: tonilee.rudnicki@speedcast.com
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Elk Petroleum Limited (ASX:ELK) Good Oil Conference Presentation

September 13, 2017, 3:27 pm
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Elk Petroleum Limited (ASX:ELK) (OTCMKTS:EKPTF) provides the Company's latest presentation at Good Oil Conference.

Elk Corporate Overview

Oil Development

- Elk is focused on redevelopment of historically producing conventional oil fields to produce significant remaining in place oil by applying enhanced oil recovery ("EOR") methods

- Grieve CO2 EOR project development 90% complete, forecast production late 2017/early 2018

Natural Gas & CO2 Production

- Madden/Lost Cabin Gas Field is a large conventional gas and CO2 production asset with high quality, long-life reserves & production delivering free cash flow to Elk

- Current production rate is of 25.4 MMCF/day (4,240 BOE/day) net to Elk

- Strategic interest in material CO2 production supports Elk's CO2 EOR strategic focus

Proven Practices & Opportunity

- EOR is a well established low risk redevelopment methodology

- -90% of CO2 EOR projects developed in USA are technical and commercial successes

- Abundance of large mature conventional oil fields suitable for CO2 EOR redevelopment

Long term Profitable Production

- Typical CO2 EOR projects have a 15+ year reserve life and annuity style cash flows

- Grieve-minimal ongoing capex and opex

- Madden/Lost Cabin operator forecast 50 year project life

Cash Flow Positive

- Forecast 2017 project free cash flow of ~US$6 million and forecast Elk consolidated project free cash flow of US$20-US$28 million (see Note below) per annum for 2017-2023 period

Remaining recoverable oil is Elk's opportunity

- 3.9 Billion barrels of oil recoverable in Rocky Mountain region (NETL)

- Buying and producing Rockies oil and CO2 projects is a significant and current opportunity for Elk

- Elk is highly focussed on:

o CO2 EOR oil production,

o CO2 sources and infrastructure opportunities

- Grieve and Madden/Lost Cabin are the foundation assets that will allow Elk to capitalise on existing opportunities

- Significant opportunities presently exist

Key Take a ways- Investing in Elk

- Only ASX-listed oil company focussed on enhanced oil recovery (EOR)

- Core projects located in the prolific Northern Rocky Mountain Oil Fairway in USA

- Madden/Lost Cabin delivers:

o project free cash flow effective 1 January 2017

o significant growth in long-life, low risk, high quality reserves & production

- Company's flagship Grieve Project is over 90% complete:

o fully funded from combination of senior debt and new equity capital funding

o expected first oil production late 2017/early 2018 delivering additional project free cash flow

- Elk is now a CO2 supplier in its own right from Madden/Lost Cabin ownership interest

- Northern Rockies CO2 EOR production fairway is extensive with additional projects in close proximity to CO2 infrastructure and Elk's CO2 reserves supporting additional growth

Note: Based on Grieve 2P and Madden PDP production profile at Bloomberg Consensus Pricing (31 June 2017)

To view the full presentation, please visit:
http://abnnewswire.net/lnk/1EZZJE6S 

Brad Lingo
Managing Director/CEO
T: +61-2-9093-5400
E: ir@elkpet.com 

Alex Hunter
Chief Financial Officer
T: +61-2-9093-5400
E: ir@elkpet.com
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Galaxy Resources Limited (ASX:GXY) James Bay Drilling - Significant Mineralisation Extended

September 13, 2017, 4:17 pm
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Galaxy Resources Limited ("Galaxy" or the "Company") (ASX:GXY) (OTCMKTS:GALXF) is pleased to announce further assays from its 2017 drilling campaign at its James Bay Project ("James Bay "), Quebec, Canada.

In late March, the Galaxy James Bay team commenced a ~33,000m diamond drilling campaign to extend and develop the existing James Bay spodumene resource in Quebec, Canada - the program is now complete. All assays are expected to be finalized by the end of September 2017.

All intercepts below are reported downhole.

Highlights from this round of drilling and assay are:

- 56.6m at 1.61% Li2O from 89.3m to 145.9m (drill hole JBL17- 09)

- 49.6m at 1.60% Li2O from 17.0m to 66.6m (drill hole JBL17- 30)

- 34.5m at 1.63% Li2O from 68.8m to 103.3m (drill hole JBL17-104)

- 35.9m at 1.54 % Li2O from 2.0m to 37.9m (drill holeJBL17-105)
and 53.5m at 1.72 % Li2O from 68.5m to 122.0m

- 41.0m at 1.81 % Li2O from 25.8m to 66.8m (drill hole JBL17-106)
and 88.4m at 1.46 % Li2O from 204.1m to 292.5 m

- 34.2m at 1.29 at % Li2O from 86.0m to 120.2m (drill hole JBL17-60)

Assays (Tables 1 and 2, see the link below) have been received for a further 49 diamond holes for 10,111m of NQ drilling (collars, Table 1, see the link below). Drilling has been both resource infill and resource extensional in type. All drilling is diamond (core). Pegmatites outcrop at surface and the drill program has targeted approximately 1,850m of pegmatite outcrop westward of the James Bay Highway. The first three drill holes east of the highway returned economic grades in pegmatite. The resource remains open and largely untested east of the James Bay Highway.

Thicker pegmatites at the western extremity of the known mineralization remain open and untested below the limits of the current drilling. The now-completed drilling program will be used for a mineral resource re-estimate and upgrade, which is expected to be finalised by the end of October 2017.

Galaxy's Managing Director and CEO, Anthony Tse, commented "The results from this last set of assays are very good and reaffirm the potential of James Bay, as a long-life high grade spodumene project. We look forward to the outcome of the resource upgrade which will follow. The Project Notice, which outlines the scope of the project, is expected to be submitted shortly to the relevant departments in both the Quebec Government and the Federal Government of Canada. "

Further assay results will be released as they are received over the coming weeks.

All results are listed in Table 2, see the link below.

ABOUT THE JAMES BAY PROJECT

The James Bay Pegmatite swarm is located 10km south of the Eastmain River and 100 kilometers east of James Bay. The property is accessible by paved road from the James Bay Road which cuts through the property close to the 381km road marker on the highway Route/109 from Val d'Or, Quebec, Canada. Val d'Or is approximately 526km westward from Montreal, Quebec. A large, multi-service truck stop is located at marker 381. Discovered in the 1960's and then known as the Cyr property the site consists of a swarm of 33 pegmatite dykes that belong to the rare-element 'class', the LCT (Li-Cs- Ta) 'family' and the albite-spodumene 'type' per the classification by Cerny (1991). Two new major pegmatite dykes have been discovered in this current campaign as well as smaller swarms eastward of the known extent. The mineralised pegmatite is open at depth and to the east. The lithium bearing mineral contained in the pegmatites is spodumene LiAl(Si2O6), a member of the pyroxene group of minerals. A classified resource was reported at cut-off grade of 0.75% Li2O of 11.75Mt @ 1.30% Li2O (Indicated) and 10.47Mt @ 1.20% Li2O (Inferred) within a conceptual pit shell using a lithium carbonate price of USD 6,000/t, metallurgical and process recovery of 70%, mining and process costs of USD 64 per tonne and overall pit slope of 45 degrees. The current resource is based on 14,457m of diamond drilling and 201.3m of horizontal channel sampling. The pegmatite swarms have dip direction ~N 103 degrees E., dip steeply at ~60 degrees westward and forms a corridor of discontinuous dykes about ~4km in length and ~300m wide. This outcrop is to about 15-20m above the surrounding muskeg/swamp. This phase of drilling is complete.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/KPVQY78H 

Corporate
Nick Rowley 
Director - Corporate Development 
M: +61-455-466-476 
T: +61-8-9215-1700
E: nick.rowley@galaxylithium.com

Media Enquiries (Australia)
John Gardner
Citadel-MAGNUS
M: +61-413-355-997 or 
T: +61-8-6160-4901
E: jgardner@citadelmagnus.com

Media Enquiries (International)
Heidi So
Strategic Financial Relations Ltd
T: +85-2-2864-4826
E: heidi.so@sprg.com.hk
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MNF Group Ltd (ASX:MNF) Dividend Reinvestment Plan Price and Participation

September 13, 2017, 4:23 pm
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The Board of MNF Group Limited (ASX:MNF) is pleased to advise that the subscription price for the Dividend Reinvestment Plan (DRP) applicable to the Final 2017 dividend is $4.73 per share.

This subscription price represents a 4.8% discount to the 5 day Volume Weighted Average Price (VWAP) ending on 13 September 2017.

The company received subscriptions for 12.5M shares from 512 shareholders. This represents participation from 17.2% of the company's issued capital and 15.5% of the shareholder base.

The Board wishes to thank all those who have elected to participate in the MNF Group DRP. 

Renee Papalia
Executive Assistant to CEO
E: renee.papalia@mnfgroup.limited 
T: +61-2-8008-8231

MNF Group Limited
T: +61-2-8008-8090
E: investor@mynetfone.com.au
WWW: www.mnfgroup.limited
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Fluence Corporation Ltd (ASX:FLC) Exclusively Selected by African Nation to Negotiate US$100M+ Water Treatment Plant

September 13, 2017, 4:32 pm
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Following several months of detailed discussions and evaluation, Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF), a global leader in distributed water and wastewater treatment solutions, today announced the signing of an exclusive memorandum of understanding (MOU) with an African nation to design and construct an advanced water treatment plant. The plant would bring revenues of over US$100 million to Fluence and provide up to 150,000 cubic meters per day of high-quality drinking water to local communities. According to the confidential MOU, a construction agreement will be negotiated and signed between the parties by the second quarter of 2018.

- Plant anticipated to provide high-quality drinking water for more than one million people;

- About one-third of revenue is anticipated in calendar 2018 and the remainder in calendar 2019;

- Fully financed project would prove ability to enter new geography and solve challenging water problems

The water treatment facility would treat local surface feed-water to provide potable drinking water that fully complies with the World Health Organization's international drinking water standards. To do so, Fluence developed a unique state of the art technological solution that includes a smart intake system, a cutting-edge membrane-based application, and chemical and physical treatment technologies.

"Providing developing regions with highly innovative and cost-effective water treatment solutions often comes with a tangle of technological and regulatory challenges," said Fluence CEO Henry Charrabe. "The fact that Fluence could design, build and finance a solution to meet this nation's needs in a timely manner is a testament to our team's combined years of experience in treating challenging waters to deliver high quality potable water to people who need it most."

The project is planned to be fully financed through a government-backed export credit financing institution and would be operational within a two-year period following contract finalization. Fluence anticipates signing the agreement by the second quarter of 2018, with anticipated revenue recognition for Fluence of approximately one-third of the US$100 million total in 2018 and the balance in 2019. 

Fluence Corporation Limited

USA
Henry Charrabe
Managing Director & CEO
Email: hcharrabe@fluencecorp.com
Telephone: +1-212-572-3766

USA
Richard Irving
Executive Chairman
Email: rirving@fluencecorp.com
Telephone: +1-408-382-9790

Gary Dvorchak, CFA
Managing Director 
The Blueshirt Group
Email: gary@blueshirtgroup.com
Telephone: +1-323-240-5796 or
China: +86-138-1079-1480

Australia
Ross Kennedy 
Company Secretary & Advisor to the Board
Email: rkennedy@fluencecorp.com
T: +61-409-524-442
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Core Exploration Ltd (ASX:CXO) Consolidates Bynoe Lithium Province through Acquisition from Liontown Resources

September 13, 2017, 4:37 pm
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Core Exploration Limited (ASX:CXO) ("Core" or "the Company") is pleased to announce that it has entered into an agreement to acquire the Bynoe Lithium Project directly adjacent to Core's Finniss Lithium Project in the NT near Darwin from Liontown Resources Ltd (ASX:LTR).

HIGHLIGHTS

- Core has consolidated the Northern Territory's leading lithium projects near Darwin through an acquisition of additional tenements in the Bynoe province from Liontown Resources

- New Bynoe Project acquisition is highly complementary to Core's Finniss Project, being directly adjacent and proximal to Core's high-grade Lithium Resource at Grants and high grade discovery at BP33

- The Bynoe Project contains the extension to Core's high-grade lithium BP33 pegmatite drilled by Core (including 38m @ 1.5% Li2O)

- The acquisition adds a large number of untested, highly prospective lithium pegmatite targets to Core's portfolio, including over 50 historic pegmatite prospects

- Previous drilling has confirmed widespread spodumene related lithium mineralisation above 1% Li2O within the Bynoe Project

- Broad zones of ore grade already discovered at other prospects including Sandras prospect (42m @1.0% Li2O)

- The acquisition includes an Existing Mining Lease over historic tin pegmatite mine near Grants has potential to provide fast-track to DSO production

- Exploration on new Bynoe Lithium Project to commence immediately

Core's consolidation of the two leading Lithium Projects (Finniss and Bynoe) in the Northern Territory marks a key commercial step to building an expanded project of global significance in an ideal location to service accelerating lithium demand.

These lithium assets are complimentary and add substantial value and upside to Core's immediate development plans within the Bynoe Pegmatite Field, where Core is seeking to establish a Direct Shipping Ore (DSO) operation in the near term, and has recently announced the signing of a framework agreement to negotiate DSO offtake with a subsidiary of leading Chinese lithium producer, Sichuan Yahua Industrial Group Co. Ltd.

Core's aspiration is to build on the early development of the high-grade Grants Resource as a DSO project and build a substantive resource holding upon which to base long term supply of spodumene DSO concentrate and lithium products leveraging the logistics, infrastructure, technologies and skills advantages provided by a capital city within 1 hrs drive from the mining project.

The Finniss and new Bynoe Lithium Projects cover a combined area over 500km2 of granted tenements near Darwin. The new Bynoe acquisition provides a large number of additional lithium pegmatite targets and more than 50 historic pegmatite prospects to Core's portfolio.

The new Bynoe tenements includes a granted Mining Lease, Extractive Mining Lease and three Exploration Licences. The granted mining leases are over historic tin mining and concentrate operations once operated by Greenbushes. The Mining Lease is 1km from Grants and potentially provides Core with an opportunity to expedite development and expand capacity for spodumene production.

Early results confirmed that primary, ore grade lithium mineralisation is widespread within the Bynoe Project, highlighting the prospectivity of the tenements, with numerous highly prospective pegmatites yet to be drill tested.

The Bynoe Lithium Project includes the northern extension of Core's high grade BP33 lithium pegmatite. Core's first drilling at BP33 in 2016 intersected 38m @ 1.50% Li2O from 70m, including 8m @ 2.0% Li2O. With the whole of BP33 now consolidated under one owner, Core intends to conduct a second phase of drilling at BP33 to confirm continuity of mineralisation and scale.

Drilling at the Sandras Prospect has intersected a 300m long, large pegmatite body with a true width up to 35m which remains open along strike and largely untested at depth included intercepts of up to 42m at 1.0% Li20 from 93m. A similar, larger (~700m long) magnetic feature is located 200m south of Sandras beneath transported cover.

Amongst many other undrilled pegmatite prospects within the new Bynoe tenements, the >1km Litchfield Prospect is located ~2km SSW on the same mineralised trend as Core Exploration's high-grade Grants Resource. Soil sampling has recorded strongly elevated lithium values and field traversing has observed numerous historical workings and extensive sub-cropping pegmatites at Litchfield.

Core's exploration team and office in Darwin is well placed to immediately commence exploration on the new Bynoe Lithium Project tenure. The Company is well funded and in a position to prioritise exploration on a series of high quality lithium pegmatite targets within a large tenement position close to infrastructure supporting development.

Stephen Biggins, Core's Managing Director commented:

"Core's consolidation of the large number of lithium mineralised pegmatites in the Bynoe Pegmatite Field places Core in an ideal position to take full advantage of the excellent logistics close to Darwin - Australia's nearest port to China.

In light of reports this week that Chinese regulators are working on a timetable to set a deadline for automakers to end sales of fossil-fuel powered vehicles in China, similar to plans already in place in Europe, Core is making aggressive steps to build and develop the Northern Territory's first lithium mine.

Core's recent placement to Yahua, one of China's largest lithium producers, highlights the strength and potential impact of Core's Lithium Projects in the NT."

Agreement Terms

Key terms of the Agreement between Core and Liontown are:

- Core to purchase 100% of Liontown's Bynoe Project comprising tenements EL 29699, EL 30015, EL 30012, ML 16 and EML 28651.

- Completion of the transaction is conditional on the grant of Ministerial and other consents.

- At Completion, Core must pay Liontown $1,500,000 in cash and issue 39,232,025 CXO shares with a value of $2,000,000 (based on 10-day VWAP prior to the date of the Agreement).

- Shares issued to Liontown will be subject to a 12-month voluntary escrow. Liontown may sell one third of the shares 4 months after the date of issue and every 4 months thereafter.

- Upon defining a JORC-compliant Mineral Resource totalling 5Mt within the Bynoe Project area, Core must to pay Liontown $1,500,000 in cash or CXO shares (at Core's election) subject to shareholder approval.

Liontown has granted Core a licence to access and explore the Bynoe Project area prior to Completion.

To view figures, please visit:
http://abnnewswire.net/lnk/87P2C9T5 

Stephen Biggins
Managing Director
Core Exploration Ltd
T: +61-8-7324-2987
E: info@coreexploration.com.au
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MYOB Group Ltd (ASX:MYO) Surge in Support for NZ Labour from Business

September 13, 2017, 5:33 pm
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The New Zealand general election will be held on 23 September and the race is going down to the wire.

While the two main parties are neck-and-neck in opinion polls, the governing National Party retains a lead amongst the country's small to medium-sized business owners according to the latest research by accounting software provider MYOB (ASX:MYO).

However, the opposition Labour Party has made up a lot of ground with 37-year old Jacinda Ardern taking over the party just 8 weeks ago.

The MYOB Colmar Brunton Business Snapshot survey of 400 SME operators sees support for Labour jump to 29 percent, up from just 10 percent at the same time last year, while National remains strong at 44 percent, although it is down 13 percentage points since September 2016.

Among the minor parties, support for New Zealand First has climbed from 4 percent to 7 percent over the last 12 months, while the Greens remain steady on 3 per cent and Act fell a percentage point to poll at just 1 percent. Support for The Opportunities Party is at 2 per cent in the MYOB Colmar Brunton Snapshot.

"Traditionally National has the small business owner vote locked up. The introduction of Labour's new leadership team has clearly changed things and turned this election on its head," says MYOB New Zealand General Manager Carolyn Luey.

"National retains its lead with SME owners, but Labour has definitely closed the gap."

Ms Luey says a greater concern for National is the fact that 42 per cent of SME operators believe it is "time for a change" verse just 37 percent who say "the current Government deserves to be re-elected".

The poll also reveals small business owners think not enough attention is being paid to the issues affecting them in the election campaign.

"SMEs are hugely important to our economy. However, many business owners feel like the issues that are important to them have largely been overlooked in this campaign," says Ms Luey.

Just 10 per cent of those surveyed in the MYOB Snapshot say sufficient attention has been paid to the issues affecting small business, while 83 per cent believe their issues have not received enough attention in this election campaign.

However, one of Labour's signature policies - restricting immigration - is also likely to have hit the mark with 46 percent of SME operators stating current immigration settings are too loose, while 34 per cent believe the country currently has the right immigration policies.

"As we head into the last fortnight of the election campaign, parties still have the opportunity to demonstrate their appeal to SME operators," says Carolyn Luey.

"SMEs have told us over many years that they want to see policies that simplify reporting and ease their compliance burden. They are also increasingly interested in seeing new approaches to areas like taxation - for example, nearly half would like to see a graduated tax structure introduced that progressively increased the proportion of tax a business paid as its revenue increased."

"There more than 500,000 businesses in New Zealand with fewer than 20 employees, making them a substantial voting constituency. Political parties need to show they understand the pressures that go with running a small business.

"Businesses need to have confidence in the future in order to invest in growth and employment. They want to see political parties open to dealing with the issues directly affecting their business. All parties have the opportunity to speak more directly to their aspirations."

MYOB has conducted the Business Monitor pre-election survey for the previous two elections. In 2014, support for National among SME operators sat at 63 percent while Labour was on just 8 percent, and in 2011 National sat at 62 percent with Labour on 10 percent.

The most recent poll was conducted from 4 to 8 September and has a margin of error of +/- 4.9 percent.

About the MYOB Colmar Brunton Business Monitor Snapshot

The MYOB Business Monitor is a national survey of 400 New Zealand small and medium business decision makers, from sole traders to mid-sized companies, representing the major industry sectors. Commissioned to independent market research firm Colmar Brunton this survey ran from 5th-6th September 2016. The Monitor Snapshot provides insight into issues currently affecting New Zealand's SMEs, as well as information on performance and the economy profitability. The weighting of respondents by both geographical location and sector is based on overall market proportions as established by Statistics New Zealand and is drawn from an independent survey group, which includes both MYOB clients and non-clients. 

Conor Roberts 
MYOB NZ Communications and Public Affairs Manager
M: 021 124 6004
E: conor.roberts@myob.com

Gerard Blank
The Agency Communications Limited Director
P: 03 341 5841
M: 0275 243 629
E: gerard@theagencynz.co.nz
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Golden Mile Resources (ASX:G88) Update - High-Grade Gold at Leonora East

September 13, 2017, 6:34 pm
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Golden Mile Resources (ASX:G88) ("Golden Mile" or "the Company") exploration program on the ten kilometre long Monarch Gold Trend continues with both prospecting and surveying underway. The Monarch Gold Trend lies within the Company's tenure at Leonora East (see Figure 2 in the link below).

HIGHLIGHTS

- Golden Mile's 100% owned Leonora East project lies adjacent to KIN Mining's (ASX:KIN) 1,000,000+ Ounce Gold Project at Mertondale-Cardinia

- Recent work by Golden Mile has identified the 10+km long 'Monarch Gold Trend' which hosts a significant number of historic mine workings (see Figure 1 & 2 in the link below)

- Recent prospecting in the area, in particular the southern Monarch Trend, has yielded more than 70 gold nuggets from various localities, often adjacent to historic highgrade mines (see Figure 2 in the link below)

- Golden Mile presently has prospecting and survey teams evaluating the Monarch Trend to assist in delineating targets for future drilling testing

Comment to Prospectors

Please note the Monarch Gold Trend is covered by granted exploration and prospecting leases that may not be accessed without prior authorisation from Golden Mile Resources Ltd.

Tim Putt, Golden Mile's Managing Director said:

"Our work program on the Monarch Trend is showing an unusually high density of historic workings through the Company's tenure, with the prospecting teams finding native gold (in the form of nuggets) associated with these workings and their surrounds. We're encouraged by the apparent lack of modern exploration in the area as it represents an exciting opportunity for the Company".

The Monarch Gold Trend was recently discovered in the course of the initial 'on-ground' exploration within the northern tenements of the Leonora East project. This Trend appears to follow the eastern granite contact of the greenstone belt with associated shearing and faulting carrying significant mineralisation, including high-grade gold in the form of nuggets.

Prospecting to date has been largely confined to the southern half of the Monarch Gold Trend, with prospecting uncovering more than 70 gold nuggets, of varying sizes and weights but accounting for over an ounce of gold, predominantly within the area between the 'Royal Harry' and 'Fair Chance' workings (see Figure 2 & 3 in the link below) - see Table 1 (in the link below) for more information.

Golden Miles exploration program at Leonora East presently involves our prospecting and survey teams logging the historic workings throughout the Monarch Gold Trend and testing their highgrade gold endowment through metal detecting and sampling.

Drilling is scheduled to commence in the Leonora area in October 2017 - for further information on the Monarch Gold Trend at Leonora East, please consult our announcement made on the 7th of September (see References below).

References

1. Golden Mile Resources Ltd, 7 September 2017, ASX Announcement - High-Grade Gold at Leonora East

To view tables and figures, please visit:
http://abnnewswire.net/lnk/524M1750 

Tim Putt
Managing Director
Golden Mile Resources Ltd (ASX:G88)
T: +61-8-9480-0636
F: +61-8-9321-0320
E: tputt@goldenmileresources.com.au

Justyn Stedwell
Company Secretary
Golden Mile Resources Ltd (ASX:G88)
T: +61-3-9191-0135
F: +61-3-8678-1747
E: justyn@stedwell.com.au
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Impact Minerals Limited (ASX:IPT) Full Year Statutory Accounts

September 13, 2017, 8:26 pm
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Impact Minerals Limited (ASX:IPT) provides the Company's Full Year Statutory Accounts for the year ended 30 June, 2017.

Principal activities

The principal activity of the Group during the financial year was exploration for deposits of nickel, gold, copper and platinum group elements.

Operations and financial review

Activity during the 2017 financial year was focussed at the emerging high grade gold-silver discovery at the Silica Hill Prospect, part of the 100% owned Commonwealth Project centred about 100 km north of Orange in NSW.

Gold and silver mineralisation with base metal credits has been intersected over an area of 200 metres by 100 metres down to 100 metres below surface and with an average true thickness of about 50 metres. The veins commonly contain high to very high grades of gold and in particular silver. For example Hole CMIPT046 returned 41.3 metres at 2 g/t gold and 176 g/t silver which comprised 30 individual assays of varying widths of between 2 g/t and 24 g/t gold and 12 individual assays with more than 500 g/t silver. Hole CMIPT011 returned two veins with 3,146 g/t silver (0.9 metres thick) and 3,600 g/t silver (0.15 m thick) (refer ASX announcement dated 5 December 2016).

A follow up drill programme is in progress. The programme is testing a large number of targets generated from Induced Polarisation and soil geochemistry data that were also collected during the year. Initial results confirm that the discovery continues to grow.

Two 5 kilometre long trends within Impact's extensive ground holdings of 1,000 km2 in the area, were newly identified as prospective for high grade gold silver deposits similar to Commonwealth-Silica Hill mineralisation. Detailed studies by Impact have shown strong similarities to the well-known Eskay Creek deposit in Canada (4 million ounces of gold and 150 million ounces of silver). There is also potential for the discovery of a porphyry copper-gold system at depth below Silica Hill.

At the 100% owned Broken Hill Project a VTEM survey was completed over two key areas and identified eight targets along the Rockwell-Little Broken Hill Trend and two targets at Little Darling Creek for follow up work for nickel-copper-PGM mineralisation. In addition significant potential for cobalt-copper-gold mineralisation was recognised on Impact's large ground holding at Broken Hill including previous drill results of 92 metres of 0.04% cobalt with 10 metres at 0.1 g/t gold at end of hole (refer ASX announcement dated 5 May 2017).

At the 100% owned Mulga Tank Project about 2,500 soil samples were submitted for multi-element analysis. An interpretation of the results identified 20 targets for gold and 16 targets for nickel. Follow up drill programmes are being planned.

Exploration and evaluation costs totalling $101,406 (2016: $186,489) were expensed during the year in accordance with the Group's accounting policy. The expensed exploration and evaluation costs for the year ended 30 June 2017 primarily comprise business development activities on potential new projects.

As at 30 June 2017 the Group had net assets of $12,248,077 (2016: $11,689,939) including cash and cash equivalents of $1,917,206 (2016: $3,929,972).

To view the full report, please visit:
http://abnnewswire.net/lnk/V5OR74H1 

Dr Michael G Jones
Managing Director
Impact Minerals Limited
T: +61-8-6454-6666
E: info@impactminerals.com.au
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VIDEO: Echo Resources Ltd (ASX:EAR) Resource Upgrade at Orelia Surpasses Expectations and Underpins Production Strategy

September 14, 2017, 1:14 am
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Echo Resources (ASX:EAR) has increased the resource at their Orelia gold deposit to 15.9Mt at 2.1g/t for 1.1Moz Au (1g/t cut-off). This upgrade is the result of an aggressive and on-going exploration program across the company's holdings in the highly prospective Yandal greenstone belt in Western Australia. Highlights of the resource upgrade include:

- Orelia resource - 15.9Mt at 2.1g/t for 1.1Moz Au (previously 5.6Mt at 1.9g/t for 349koz);

- 90% of the resource is in the Indicated category;

- Remains open at depth and along strike with further drilling currently underway; and

- Global Resource increases to 1.7Moz Au.

Echo also owns the 2Mtpa Bronzewing processing facility and associated infrastructure. This infrastructure will allow for a significant reduction in capital expenditure when a decision to commence production is made in the future.

Analyst Comment: This was an excellent achievement for Echo as the resource upgrade surpassed our expectations. What makes this all the more impressive is that Echo only took ownership of the Orelia deposit less than one year ago.

Importantly, not only did the resource nearly triple in size (previously 349koz Au at 1.9g/t Au), but the grade also increased to 2.1g/t Au. This is important as Echo's strategy is to only target open pittable ore that exceeds 2g/t Au when production commences in the future.

And whilst the company has stated they will not fall into the trap of commencing production without a sufficient mine life to support an on-going and sustainable operation (TSI estimate - 8Mt of ore / 4yrs reserves minimum), given Orelia will provide the base load feed for the Bronzewing facility, this resource upgrade indicates that production is likely to commence much sooner than we have previously estimated (TSI estimate - 2020 first gold production).

Catalysts - Work on the reserve estimate for Orelia is underway, which we expect to be released in the near term (TSI estimate - 4th qtr). Whilst additional resource and reserve upgrades on the company's other deposits are likely before the end of the year. We believe this should see the global resource soon exceed 2Moz Au.

Valuation: We have increased our valuation for Echo to $0.44 / share (previously $0.34/ share). The major driver for this was increasing our mine life assumption at the Orelia deposit (Current - 310koz at 2.1g/t Au vs. previous - 147koz Au at 1.8g/t Au).

However we note our mine life and grade assumptions are relatively conservative given that nearly 1Moz of the Orelia resource is classified in the indicated category. We will reassess our mine life assumption post the reserve announcement for Orelia.

To view the video, please visit:
http://www.abnnewswire.net/press/en/89985/ear 

Adam Kiley
Director
TSI Capital Pty Ltd
M: +61 404 945 234
adam.kiley@tsicapital.com.au
www.thesophisticatedinvestor.com.au
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Capital Mining Limited (ASX:CMY) to Commence Drilling at Scotia Cobalt-Nickel Project

September 14, 2017, 3:30 pm
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Capital Mining Limited (ASX:CMY) ("Capital" or "the Company") is pleased to announce the commencement of its first phase of drilling at the 100%-owned Scotia Cobalt-Nickel Project in the eastern goldfields of Western Australia.

HIGHLIGHTS

- Drilling to commence at Scotia Cobalt-Nickel Project in Eastern Goldfields of WA.

- Planned program will consist of 9 holes of RC drilling over approximately 1,600m at the Ringlock North, Ringlock and Red Dam prospects.

- Drilling is designed to;

o Follow up historical near-surface intersections of cobalt-nickel mineralisation within the Project area; and

o Target untested sections of highly prospective basal contact of the lower ultramafic unit for primary cobalt-nickel mineralisation.

- Drilling to commence next week and is scheduled to be completed next month - results will be released as they become available.

The Company has completed an analysis of available data, post its acquisition of the Scotia Project in March (ASX announcement, 9 March 2017), and has identified three initial high priority targets which will be the target of the first phase of drilling.

Plans for drilling have now been completed and a program of works (POW) has been submitted. Drilling is scheduled to commence on Thursday 21 September. The program is expected to be completed in October and results will be released as they become available.

Details of First-Phase Drill Program

The first phase of drilling will be a nine hole reverse circulation (RC) program covering a total of 1,600 metres to follow up historical near-surface intersections of cobalt-nickel enrichment within the Scotia Project area. Drilling will also target untested sections of the highly prospective basal contact of the lower ultramafic unit for primary cobalt-nickel mineralisation.

Proposed drill hole locations are shown in Table 1 and Figure 1 (see link below).

The program will target the Ringlock North, Ringlock and Red Dam prospects, as follows;

- Ringlock North: 2 RC holes for 400 metres - both holes to test the potential for primary and secondary nickelcobalt mineralisation.

- Ringlock Prospect: 1 RC hole for 180 metres - to test an area central to a 440 metre untested strike length of prospective basal contact of the lower ultramafic unit, coincident with a zone of near surface cobalt-nickel enrichment.

- Red Dam: 6 RC holes for 1,020 metres - drilling at this target will cover a total strike length of 1300m.

Drill Targeting Strategy

Significant historical exploration activities within the Scotia Project area have targeted several parallel ultramafic units for Nickel sulphides over a strike length of 11km. This work has effectively identified three distinct prospective cobalt-nickel horizons;

- Basal contact of the 'Lower Ultramafic Unit' - hosts the GSP Deposit;

- Basal contact of the 'Footwall Ultramafic' - sits approximately 80 metres below the Lower Ultramafic; and

- Near-surface zones of cobalt-nickel enrichment in the weathered profile.

Despite the basal contacts of these komatiite units representing the most prospective targets for primary cobaltnickel mineralisation, there are several areas where these contacts have not been penetrated below a depth of 50 metres (fresh rock). Elevated Cobalt grades within the Project area are coincident with nickel mineralisation, and as such exploration targeting has been influenced strongly by historical nickel results.

Each drill hole has been designed to intersect known zones of cobalt-nickel enrichment in the regolith and to penetrate the basal contacts of the Lower Ultramafic unit in sections where;

- There is a decent strike length of untested basal contact;

- There is a coincident Nickel-Copper-Cobalt anomaly identified by shallow drilling; and

- Along strike from an intercept of sulphides adjacent to the basal contact.

About the Scotia Cobalt-Nickel Project

The Scotia Project is situated 20km along strike of the Silver Swan and Black Swan nickel mines within the Archean Kalgoorlie Greenstone Terrane of Western Australia. It has been previously explored for nickel in the late 1960's and 1970's, and three main nickel prospects were identified; the Ringlock, Red Dam and GSP Prospects - along with several other targets. Several geophysical anomalies were defined and tested during this period of exploration and some were found to host associated cobalt mineralisation.

Significant cobalt intersections have been recorded, including 27.4m @ 0.06% Co, with individual cobalt values up to 0.47% Co reported (see ASX announcement of 20 April 2017 for details of the more significant cobalt intercepts recorded and a full list of historical drilling and results).

About Cobalt

Cobalt has reached a current price of around of US$60,000 per tonne representing an increase of more than 100% in price over the past year. The primary drivers for this price increase include:

- Recent surge in demand from the battery technology and energy storage markets - independent forecasters predict a very buoyant market for the price of cobalt

- Supply challenges associated with the Democratic Republic of Congo, which produces 60% of global cobalt production

- Demand is expected to exceed supply out to 2020. Industry will need to rely upon very large mine supply growth to meet demand; and

- Lack of recent exploration discoveries.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/Q2F67O57 

Capital Mining Limited
Peter Torney
Executive Director
T: +61-8-9481-0389
F: +61-8-9463-6103
WWW: www.capitalmining.com.au
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YPB Group Ltd (ASX:YPB) Rights Secured to Generational Leap in Authentication Technology

September 14, 2017, 4:18 pm
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Brand Protection and Customer Connection solutions company YPB Group Ltd (ASX:YPB) is excited to announce that it has secured the global Patent License rights to the Motif Micro microbarcode technology. Motif Micro is a revolutionary technology that is expected to leapfrog the execution of YPB's PROTECT, DETECT, CONNECT strategy to a new plane.

- Motif Micro the Anti-Counterfeit 'Holy Grail': non-replicable identifier technology which turns a smartphone into an Anti-Counterfeit scanner.

- Potential to become global serialisation standard.

- Virtually unlimited end applications.

- Highly complementary with current YPB solution set.

- PATENTED technology developed in Massachusetts USA.

- Potential value exceptional.

Motif Micro's platform is considered the 'Holy Grail' of non-replicable invisible barcode technology as it achieves Anti-Counterfeit world firsts in two important facets with exceptional potential value:

1. The smartphone becomes the authentication device for an uncopiable, invisible and indestructible physical marking technology. That creates the potential for ubiquitous adoption as the global marking standard with every consumer a product authenticator at minimal incremental cost to a brand owner; and

2. Unlimited serialisation capacity but in a form that is impossible to fake. Serialisation will become increasingly important in a range of applications from Anti-Counterfeit to stock control to Customer Connection.

Motif Micro's appeal to brand owners is enormous due to its ability to uniquely encode products at the item level while maintaining low cost, high physical security, exceptional visual appeal and smartphone scanning. That makes product Authentication and Customer Connection one seamless process. The brand owner achieves the highest level protection with no disruption to existing packaging and branding while motivating the customer to connect directly with the brand via authenticating the product with a smartphone. Motif Micro is a powerful tool in executing a core YPB premise that is of great value to brand owners - namely, that authenticity triggers engagement.

The Motif Micro technology is based on nanoparticle barcodes from proprietary polymer nanocomposites and will be applied in-line by a proprietary micro-fluidic production process. It is applicable to a vast array of goods from FMCG goods to pharmaceuticals to high end fashion, art and collectibles.

The final step to full commercialisation is smartphone readability of the microcodes and is expected within twelve months with modest further development expenditure. YPB will hold the rights to a perpetual, exclusive world-wide license to develop and commercialise the technology.

YPB has previously announced the details of the acquisition of Motif Micro and the initial share based consideration of 10,244,025 shares has been issued to the Vendors. The remainder of the consideration in cash and shares will be effected prior to December 29th 2017 and be subject to agreed milestones and escrow provisions.

The economics of the Motif Micro microbarcode technology are highly favorable, and include low production line cost, low unit cost and industrial scalability, without sacrificing security. In addition, the ability to produce a broad spectrum of distinct particles with various shapes, sizes, physical properties and sensors will enable YPB to offer unique authentication solutions based on serialisation for each client or product.

Key commercial advantages include:

- Consumer-facing capability - most importantly, and unlike other non-replicable identifiers, Motif Micro's solution will be readable by a smartphone;

- Security - multiple layers of security can be embedded within each individual microparticle, making the microbarcodes impossible to reverse engineer;

- Production - the technology is based on a cutting-edge microfluidic printing press that enables low cost production of the microbarcodes;

- Specificity - microbarcodes are capable of lot-and item-level serialisation with a high degree of physical security; and

- Applications - the technology can be applied to almost any product, such as currency, 3D printed objects, any kind of packaging (i.e. food, pharma) and high end consumer goods

Motif Micro's micro-barcodes and YPB's core tracer technology are highly complementary. YPB's core tracer technology can be embedded into any medium at massive scale and is an ideal supply chain solution for binary authentication of products. Motif Micro's microbarcodes, in turn, can mass produce vast quantities of unique codes at ultralow cost, making them ideal for products that require or benefit from serialised or customised identification.

The Motif Micro microbarcode technology was developed at a world renowned institution in USA, with funding from a number of US Government agencies. It has been peer-reviewed in top scientific journals such as Science and Nature Materials, has won significant recognition for its commercial potential, and is covered by multiple U.S. and international patents, as well as closely held trade secrets.

Professor Patrick Doyle of MIT, co-inventor of the technology and co-founder of Motif Micro, said: "We have been looking for a partner with the talent, reach and ambition to commercialise our technology on a global scale. This platform attracted significant (and unsolicited) venture capital interest on its own, but YPB's market position, vision and team represent an unparalleled opportunity in the industry. We're excited about the prospect of jointly realising the global potential of microbarcodes in the fight against counterfeiting."

YPB CEO and Executive Chairman John Houston commented: "The Motif Micro technology takes us towards the 'Holy Grail' of anti-counterfeiting: inexpensive, uncopiable, smartphone-readable barcodes that are visually attractive, able to be serialised as well as capable of connecting customers. It fits perfectly with our PROTECT DETECT CONNECT strategy and once fully commercialised, these microbarcodes will perfectly complement our mass-product tracer solution and enable us to provide clients with an even more comprehensive, market leading solution. Motif Micro is a generational leap breakthrough technology in product marking for Fighting Fakes and Connecting Customers." 

Mr. John Houston 
Executive Chairman
YPB Group Limited
T: +61-458-701-088 
E: john.houston@ypbsystems.com 

Mr. Gerard Eakin
Director
YPB Group Limited
T: +61-427-011-596
E: eakin@manifestcapital.com
W: www.ypbsystems.com
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Altech Chemicals Ltd (ASX:ATC) Sets Export Credit Finance Approval Target Date

September 14, 2017, 4:35 pm
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Altech Chemicals Limited (Altech/the Company) (ASX:ATC) (FRA:A3Y) is pleased to announce that a target date of 14 December 2017 has been set for decision making for the offer of cover by the German government inter-ministerial committee (IMC), of the application for export credit project finance cover (ECA cover).

Highlights

- Target date of 14 December 2017 set for decision making by German government interministerial committee (IMC) for German ECA cover

- Lenders due diligence is currently in the final stage

- Successful due diligence with no fatal flaws

- Expert Opinion report for Euler Hermes nearing completion

- Target date is a significant milestone for development of Altech's HPA project

A positive decision of the SMS group GmbH (SMS) and KfW IPEX-Bank ECA application will result in the award of a legally binding offer of cover by the Federal Republic of Germany for the majority of the debt portion of funding required for Altech's high purity alumina (HPA) project. The offer of cover and a separate bank approval based on a pre-negotiated debt term sheet finance package provided by KfW IPEX-Bank will position the Company to proceed to secure project equity.

The setting of the ECA cover target date also marks the successful conclusion of extensive and detailed independent project due diligence. All due diligence consultants have committed to submit final reports to the expert opinion consultant by mid-October 2017, to enable submission of the expert opinion report by 9 November 2017. At a meeting last week in Frankfurt, Germany attended by the Company and representatives from KfW IPEX-Bank; SMS; and the various due diligence consultants, it was confirmed that no fatal flaws in the project had been identified during due diligence. It was agreed by all parties that based on the successful outcome of due diligence the Company's HPA project is ready to proceed to the ECA cover final assessment for debt financing approval.

Malaysian HPA plant

The Company's German engineering, procurement and construction (EPC) contractor SMS is targeting mid-October 2017 to finalise the EPC contract price for the construction of Altech's Malaysian HPA plant. The final EPC price and HPA plant design is required for the ECA cover application to determine the final amount of project debt and equity.

The scope of work for HPA plant has changed substantially under the fixed priced turnkey EPC contract proposed by SMS. Plant capacity has been upgraded to 4,500 tonnes per annum, and at the request of financing parties, the plant design now incorporates a flexible finished product line capable of producing HPA for both the synthetic sapphire industry (4,500tpa of high density pellets) and HPA for the lithium-ion battery industry (1,500tpa of powder at sub-micron particle size). This capability was not in the original plant design or feasibility study.

As a condition of the debt financing process the project has been significantly de-risked in many areas. The plant design and scope has substantially changed in response to due diligence. Superior lining materials have been selected for equipment used at the back end of the plant (after roasting) to minimise finished product contamination risk. Whist the materials are significantly more expensive than the original design, there incorporation further de-risks the project by enhancing the plant's capacity to achieve the required 99.99% finished product purity standard. Also, plant emissions targets are now significantly more conservative compared to local requirements due to international requirements (Equator Principles and OECD Common Approaches).

Since Altech announced the results of its feasibility study in March 2016, there has been a substantial deterioration of the Euro/USD exchange rate (0.98 to 0.83). Many other "factored" construction costs such as freight, final design, contractor mobilisation and demobilisation, temporary facilities, insulation and commissioning have now been accurately costed by SMS.

The fixed price lump sum EPC contract will now include a completion guarantee with liquidated damages provisions; and throughput and process/quality guarantees supported by a substantial performance bond. All plant and equipment will be accompanied with warranty guarantees supported by a significant warranty bond. Obtaining these extensive guarantees for a chemical processing plant is an exceptional outcome that significantly de-risks the project. These guarantees were instrumental in bringing technical project due diligence to conclusion and securing the target date for the IMC meeting.

Updated capital costs and study details are expected to be available and announced in October 2017, following notification by SMS of the final EPC contract price for construction of the Malaysian HPA plant. The Company has not yet received the final executable EPC price from SMS. The Company anticipates a significant increase in debt finance and ECA cover availability in support of an expected substantial increase in the project capital cost. Modelling has demonstrated the financial robustness and attractiveness of the project over a broad range of capital costs and a variety of debt/equity combinations.

Altech's managing director, Mr Iggy Tan said "The setting of the target date for the decision making of the SMS and KfW IPEX-Bank application for German government export credit project finance cover is the outcome of hard work by the various contributing teams focussed on securing project debt financing for the Company's HPA project. The successful conclusion of project due diligence and the no fatal flaws finding all bodes well for a positive ECA application assessment".

"Altech's project team and our partners have an intense six week period ahead, as we work to finalise all project information ready for submission of the PwC expert opinion report and the application for ECA cover", Mr Tan concluded.

To view figures, please visit:
http://abnnewswire.net/lnk/X55K164B 

Iggy Tan
Managing Director
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com 

Shane Volk
Company Secretary
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Investor Relations (Europe)
Kai Hoffmann
Soar Financial Partners
Tel: +49-69-175-548320
Email: hoffmann@soarfinancial.com
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Elk Petroleum Limited (ASX:ELK) to Acquire Aneth Oil Field and CO2 EOR Production Project

September 14, 2017, 4:43 pm
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Elk Petroleum Ltd (ASX:ELK) (OTCMKTS:EKPTF) ("Elk" or the "Company") has entered into a purchase and sale agreement with Resolute Energy Corporation ("Resolute") to acquire a subsidiary of Resolute which holds majority ownership in the Greater Aneth Oil Field for US$160 million (~A$200 million). (see Note 1 below)

- The Aneth Oil Field in Southeastern Utah is ranked the 86th largest oil field (see Note 2 below) in the US by proven reserves and one of the largest CO2 EOR projects in the Rocky Mountains with a 30-year operating history and ~450MMbl cumulative production to date.

- The acquisition of Aneth is transformative for Elk:

o Becomes majority owner (~63%) and operator of a major Rocky Mountain CO2 EOR project with the ability to control the scope and timing of further developments at Aneth

o Becomes one of the largest oil producers on ASX with forecast 2018 net production of 11,000 boepd

o Adds ~59 mmbbls of 2P oil reserves (see Note 3 below) and 6,500 bopd oil production effective 1 October 2017

o Delivers significant organic growth to potentially double production to over 14,000 bopd

o Operated interest with the potential for Elk to retain Resolute's experienced Aneth operating team of over 90 Denver technical professionals and Aneth field operating team

o Consolidated EBITDA of US$50-55 million in 2017 with cash flow to equity of A$20-25 million in 2018 that is expected to grow significantly over the next 3-5 years

- Attractive acquisition valuation:

o Acquisition is at a significant discount to proven net asset value

o 1P Proved Developed Producing Reserves acquisition multiple of US$5.50/bbl

o Production acquisition multiple of approximately US$27,000 per flowing barrel

o Significant organic growth potential

- The acquisition is anticipated to be funded via:

o US$22 million equity placement (~A$27.5 million)

o US$98 million senior debt

o US$55 million unlisted preferred equity issued by Elk Petroleum, Inc., a wholly-owned subsidiary of Elk

Acquisition of Aneth Oil Field

Elk has entered into a purchase and sale agreement to acquire an entity which holds a ~63% operating working interest in the Aneth Field, one of the largest CO2 EOR projects in the Rocky Mountains from Resolute Energy Corporation (NYSE:REN). Substantially all of the remaining working interest in the Aneth Field, which is located on Navajo Nation lands, is owned by Navajo Nation Oil and Gas Company ("NNOGC"). Elk intends to continue the relationship with NNOGC established by Resolute with respect to the development of the Aneth Field in cooperation with the Navajo Nation.

The acquisition price includes an up-front purchase price payment of US$160 million. The purchase price also includes additional contingent oil price payments (see Note 4 below) of up to US$10 million on the first and second anniversary date of the closing of the purchase in each of 2018 and 2019 and a third payment of up to US$15 million on the third anniversary of the closing of the purchase in 2020 depending on oil price performance. Financial close of the acquisition is targeted for late October 2017.

Acquisition Strategic Rationale

- High-Quality Acquisition

o The Aneth Field has a long history of continuous oil production since the late 1950s with 448 MMbbls cumulative production to date

o Adds ~59MMbbls of 2P oil reserves and 6,500 bopd oil production effective 1 October 2017

- Significant Organic Growth Opportunities

o Delivers significant internally funded organic growth

o Development of Aneth has been constrained for the past 2-3 years as Resolute has allocated capital resources to its high-quality Permian acreage

o Opportunity to double production within 3-5 years significantly funded by internal cash flow

- Provides Elk with Opportunity to Transform to Major CO2 EOR Producer and Operator

o Transforms Elk into one of the ASX's leading oil companies and operators by reserves, production & cash flow

o Position as field operator allows Elk greater control over pace and timing of cash flows

o Aneth brings high-quality, established operating and management team

o Achieve Elk's growth plan to own and operate CO2 projects (Grieve and Aneth fields) as well as CO2 supply (Madden field) in the geographically focused area of Northern Rockies

- Attractive Acquisition Economics

o Acquisition is at a significant discount to historical proven reserve and production value

o Strong cash flows allow for significant deleveraging over the next 2-3 years

o Consolidated EBITDA of US$50-55 million in 2018 with sustainable cash flow to equity of A$20-25 million

Equity Placement and Transaction Funding

The acquisition will be partially funded via a placement to institutional, professional and sophisticated investors to raise approximately US$22 million (~A$27.5 million) by issuing approximately 443 million new fully paid ordinary shares in Elk (the "Placement").

The Placement price of $0.062 represents a 22% discount to the last close share price of $0.079 as at 14 September 2017. The Placement shares, when issued, will rank equally in all respects with Elk's existing ordinary shares.

The shares will be issued in two tranches:

- The first tranche to raise approximately US$10 million (~A$12.1 million) is unconditional and settlement is expected to occur on Wednesday, 20 September 2017 with normal trading to occur on Thursday, 21 September 2017 ("Initial Placement").

- The second tranche for the balance of approximately US$12 million (~A$15.4 million) is subject to ASX Listing Rule 7.1 shareholder approval that is intended to be considered by shareholders at an Extraordinary General Meeting, which is expected to be held on Friday, 27 October 2017 ("Conditional Placement"). Settlement of the Conditional Placement is expected to occur on Wednesday, 1 November 2017 with normal trading to occur on Thursday, 2 November 2017.

In addition to the Placement, the balance of the acquisition will be funded through US$98 million senior debt by Riverstone Credit Partners, L.P. and other institutional lenders and up to US$55 million preferred equity to be provided by AB Energy Opportunity Fund L.P., subject to negotiation of definitive documentation and satisfactory results of due diligence. Elk at its discretion has the ability to scale the preferred equity up to US$65 million subject to demand. Contingent oil price payments will be met by cash flows from the assets.

Indicative Placement Timetable

Item: Trading halt and Announcement of Placement
Date: Friday, 15 September 2017

Item: Trading halt lifted and Elk shares resume trading
Date: Monday, 18 September 2017

Item: Settlement of Initial Placement shares
Date: Wednesday, 20 September 2017

Item: Issue and quotation of Initial Placement shares
Date: Thursday, 21 September 2017

Item: Extraordinary General Meeting to approve issue of Conditional Placement shares (expected)
Date: Friday, 27 October 2017

Item: Settlement of Conditional Placement shares (expected)
Date: Wednesday, 1 November 2017

Item: Issue and quotation of Conditional Placement shares (expected)
Date: Thursday, 2 November 2017

The above timetable is subject to change without notice

Bradley Lingo, Elk Petroleum Managing Director, said:

"The Aneth Oil Field is one of the most significant EOR projects in the US, underpinned by a high-quality and established operating and management team. The field is highly complementary to Elk and represents an attractive opportunity for Elk to transform into one of the ASX's leading oil companies and operators by reserves, production and cash flow.

Elk is excited by the opportunities for its expansion. We have undertaken extensive due diligence, built a strong business case and established a seamless plan for integration, including the adoption of over 90 highly experienced Resolute staff across all areas of Aneth field operation and head office management. We are highly confident that under Elk's management, alongside the Aneth team, the field can continue to go from strength to strength."

RBC Capital Markets is acting as Global Coordinator and Lead Manager on the Placement. Elk was advised on the Acquisition and the funding package by Miro Capital Pty Ltd and EAS Advisors LLC, acting through Odeon Capital Group, LLC, a member of FINRA/SIPC/MSRB.

Notes:

1 FX rate of 1 AUD = 0.80 USD used to convert all USD metrics in this announcement

2 U.S. Energy Information Agency report Top 100 Oil & Gas Fields March 2015

3 Based on Elk internal reserves estimate supported by independently audited reserve estimate of VSO Petroleum Consultants

4 First Contingent Oil Payment (Year 1): For each day that the WTI price is above US$52.50/bbl during the first 12-month period after the financial close, Elk shall pay Resolute US$40,000 capped at a max of US$10m

Second Contingent Oil Payment (Year 2): For each day that the WTI price is above US$55/bbl during the 12-month period after first anniversary of financial close, Elk shall pay Resolute US$50,000 capped at a max of US$10m

Third Contingent Oil Payment (Year 3): For each day that the WTI price is above US$60/bbl during the 12-month period after the second anniversary of financial close, Elk shall pay Resolute US$60,000 capped at a max of US$15m

To view the presentation on 'Acquisition of Greater Aneth Oil Field and CO2 EOR Project', please visit:
http://abnnewswire.net/lnk/6RJ4G1Q9 

Brad Lingo
Managing Director/CEO
T: +61-2-9093-5400
E: ir@elkpet.com 

Alex Hunter
Chief Financial Officer
T: +61-2-9093-5400
E: ir@elkpet.com
↧

Revolution Metals Ltd Completes Deep Ground Penetrating Radar Survey

September 14, 2017, 7:34 pm
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Revolution Metals Ltd, Australia's newest gold developer, has just completed a seven kilometre Deep Ground Penetrating Radar (DGPR) Survey around their exploration tenements in Northern NSW.

Ultramag Geophysics PL, led by Philip McClelland, carried out the survey using Ultramag's proprietary system and utilized both 50 metre and 200 metre depth antenna.

Numerous significant below surface structures were identified that appear to copy the already mined mineralised gold bearing lodes, but were not visible at surface and remained undetected during earlier gold mining activity.

The portability of the DGRP system was evident in the deployment of the equipment on slopes of up to 37 degrees.

Additionally the survey was able to locate voids under the surface that indicate the potential for underground water channels. Local landholders can benefit from this knowledge to identify sources of water for farm use and establish permanent water supplies.

Analysis of the data is being undertaken for three dimensional modelling and will be available within a few weeks.

"We are very fortunate to be among the first to harness the visual imagery that is returned from the DGPR system, and it is good that the industry is starting to understand the depth of data that can now come from this type of technology" said Tim Mckinnon, CEO of Revolution Metals.

"I think the Ultramag system has got a huge future and it is interesting to see the world waking up to it. We are very lucky to have it here." commented Julian Malnic (Geologist and Chairman of the Sydney Mining Club)

To watch a video interview conducted during the survey, please visit:
http://www.abnnewswire.net/press/en/89895/dgpr 

Revolution Metals Ltd
Tim Mckinnon
T: +61-2-8205-7339
WWW: www.revolutionmetals.com

Ultramag Geophysics
T: +61-427-014-002
E: daniel@ultramag.com
WWW: www.ultramag.com
↧
↧

Revolution Metals Ltd Acquires Geophysical Instrument to Map Geochemical Indicators at Mt Remarkable

September 14, 2017, 8:02 pm
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Revolution Metals Ltd has acquired the latest IP64 rated XRF scanner from Olympus. The new "VANTA" handheld XRF scanner can simultaneously log samples in the field while also logging the location wirelessly via GPS.

Rapid acquisition of data from field geochemical surveys will assist the company in identifying accurate locations for follow up drilling.

The chemical indicators for the mineralisation of gold in the area is well known, and the scanning profile of the "VANTA" is well suited to detect these indicators.

Following from the Deep Ground Penetrating Radar, the company identified sub surface structures that can be confirmed by geochemical analysis in the vicinity of the newly identified alterations.

A geochemical survey is currently being planned to utilize the data model provided by the recently conducted DGPR survey.

The company will release the results on completion.

Revolution Metals Ltd
Tim Mckinnon
T: +61-2-8205-7339
WWW: www.revolutionmetals.com
↧

Intermin Resources Limited (ASX:IRC) Positive Drilling Results at Teal Stage 3 and Peyes Farm

September 17, 2017, 3:43 pm
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Intermin Resources Limited (ASX:IRC) ("Intermin" or the "Company") is pleased to announce reverse circulation ("RC") drilling results from the Teal South and Peyes Farm prospects within the 100% owned Teal gold project located 11km northwest of Kalgoorlie-Boulder in Western Australia (see Figure 1 in the link below).

HIGHLIGHTS

- Infill and extension drilling completed at Teal Stage 3 as part of the mine expansion study

- Significant shallow high grade mineralisation intercepted including (see Note below):

o 6m @ 6.03g/t Au from 50m - TRC1710

o 5m @ 2.46g/t Au from 45m - TRC1709

o 2m @ 4.98g/t Au from 42m - TRC1718

o 5m @ 1.64g/t Au from 40m - TRC1701A

o 4m @ 2.34g/t Au from 41m - TRC1714

o 2m @ 3.77g/t Au from 40m - TRC1703

- Drilling successfully infilled and extended known oxide and transitional mineralisation south of the current Teal pit design (see Note below)

- Increased drill density now completed to define a 200m long mineralised extension above a 1.0g/t lower cut-off grade (see Note below)

- Updated Resource Estimate expected in the December Quarter

- One RC hole for 120m was completed at the Peyes Farm prospect which returned 13m @ 1.83 g/t from 83m downhole in PFRC1701. The Peyes Farm prospect remains open at depth and is geologically similar to the Teal deposit located 600m north along strike

- Historic holes located between Teal South and Peyes Farm have recorded significant mineralisation and will be followed up as part of a larger primary Resource growth strategy

- The focus along the prospective Teal-Peyes Farm corridor will be on deeper drilling to intersect mineralisation within the transitional and primary zones.

Commenting on the results, Intermin's Managing Director, Mr Jon Price said:

"The new Teal South drilling results demonstrate the potential for a Stage 3 extension up to 200m south of the Teal pit and we look forward to releasing the updated resource and Feasibility Study. Given our priorities bringing the new Goongarrie Lady project into production next year, completion of the Study into a Teal Stage 3 will be important step in delivering a continuous production profile.

"The initial result at Peyes Farm is quite significant as it demonstrates continuity of mineralisation and follow up programs are planned to link the mineralisation along strike and test depth extension across the entire 4km of strike."

"We believe the Teal gold camp to be a significant mineralised system with both continuity along strike and parallel structures to the east on the Jacques Find - Yolande trend. The primary sulphide mineralisation below the high grade free milling supergene zone will be a key focus for future programs in 2018. "

Overview

The drilling at Teal South was targeted to infill and extend known oxide and transitional mineralisation south of the current Teal pit and most holes intersected encouraging mineralisation which is interpreted to be a direct extension south to the mineralisation being mined at Teal (see Figure 2 in the link below).

A new orebody interpretation and updated Resource model is in the process of compilation followed by a pit optimisation study due for completion in the December Quarter. All gold assay results from the Teal South prospect have been received with drill hole collar details and significant downhole intervals included in Table 1 (see the link below).

At Peyes Farm a single RC hole was completed to test below a priority downhole intercept of 14m @ 5.10g/t Au from 55m in hole PFRC161211. New hole PFRC1701 was drilled to 120m depth and intersected 13m @ 1.83 g/t from 83m downhole which is interpreted as a relatively consistent result.

The primary mineralisation at depth within the Teal gold project has been determined to have semi-refractory metallurgical properties whereby the mineralisation requires roasting or ultra-fine grinding to maximise gold recovery. A number of third party processing options exist within economic haulage distance of the Teal project and the Company is actively pursuing discussions for a potential partnering solution.

Further drilling at depth is planned to commence in the December Quarter whereby priority primary targets will be tested at the Jacques Find prospect and along strike at the exciting Yolande prospect where a large IP anomaly could represent substantial undefined mineralisation.

Results will be released as they come to hand.

Note:

As announced to the ASX on 11 July 2017, see Table 1 on Page 4 and JORC Tables on Page 7, see also Competent Persons Statement on page 5 and Forward Looking and Cautionary Statement on page 7.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/D02GL5G6 

Jon Price 
Managing Director
Tel: +61-8-9386-9534
E: jon.price@intermin.com.au

Lorry Hughes 
Director - Business Development
Tel: +61-8-9386-9534
E: lorry.hughes@intermin.com.au

Michael Vaughan
Media Relations - Fivemark Partners
Tel: +61-422-602-720
E: michael.vaughan@fivemark.com.au
↧

Emmerson Resources Limited (ASX:ERM) 2017 Annual Report and Financial Statements

September 17, 2017, 3:44 pm
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Emmerson Resources Limited (ASX:ERM) (OTCMKTS:EMMRF) provides the Company's 2017 Annual Report and Financial Statements.

REVIEW OF OPERATIONS

About Emmerson Resources

Emmerson is a leading gold and copper gold explorer with projects in the Northern Territory and New South Wales and is led by a board and management group of experienced Australian mining executives including former MIM and WMC mining executive Andrew McIlwain (nonexecutive chairman), and former senior BHP Billiton and WMC executive Rob Bills ( Managing Director and CEO).

The Northern Territory projects are centred around the Tennant Creek Mineral Field (TCMF), which is one of Australia's highest grade gold and copper fields producing over 5.5 million ounces of gold and 470,000 tonnes of copper from a variety of deposits including Gecko, Orlando, Warrego, White Devil, Chariot and Golden Forty, all of which are within Emmerson Resources portfolio. Emmerson has been successful in discovering copper and gold mineralisation at Goanna, Monitor, Mauretania and more recently, the discovery of very high grade gold at Edna Beryl - the first discoveries in the TCMF for over a decade.

Emmerson holds 2,800 km2 of ground in the TCMF and a substantial geological database plus extensive infrastructure and equipment.

Emmerson is in the process of monetising a pipeline of small high grade exploration targets via a Tribute Agreement with a company which specialises in the operations of small mines. The first of these small mines will be at Edna Beryl, with production to commence in 2017-18.

The TCMF is situated approximately 500km north of Alice Springs on the Stuart Highway and boasts excellent infrastructure (main highway, rail, gas, water, township and airport).

TCMF Farm-in Agreement

Pursuant to the Farm-in agreement entered into with Evolution Mining Limited (Evolution) on 11 June 2014, Evolution is continuing to sole fund exploration expenditure of $15 million by 31 December 2017 to earn a 65% interest (Stage 1 Farm-in) in Emmerson's tenement holdings in the TCMF. An option to spend a further $10 million minimum, sole funded by Evolution over two years following the Stage 1 Farm-in, would enable Evolution to earn a further 10% (Stage 2 Farm-in) of the tenement holdings. Emmerson is acting as manager during the Stage 1 Farm-in and is receiving a management fee during this period. Evolution's exploration expenditure to the end of the financial year was approximately $12.8 million.

Tennant Creek Exploration Activities

During the financial year, Emmerson (on behalf of the Farm-in agreement with Evolution) conducted 8,975m drilling consisting of 7,931m of RC (Reverse Circulation, including pre collars) and 1,044m of diamond drilling. Exploration expenditure attributable to the Stage 1 Farm-in during the financial year was approximately $3.4 million and total life to date exploration expenditure attributable to the Stage 1 Farm-in at 30 June 2017 was approximately $12.8 million which has been fully reimbursed by Evolution.

To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/60RDTCR0 

Investor Enquiries:
Mr. Rob Bills
Managing Director & Chief Executive Officer
Tel: +61-8-9381-7838
www.emmersonresources.com.au
↧
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