Proposed Merger Between iProperty Group Ltd (ASX:IPP) and REA Group (ASX:REA)

November 1, 2015, 2:18 pm

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iProperty Group (ASX:IPP) and REA Group Limited (ASX:REA) are pleased to announce today that Realestate.com.au Pty Limited, a company wholly owned by REA Group Limited ("REA"), REA and IPP have entered into a Scheme Implementation Deed under which it is proposed that a newly incorporated wholly owned subsidiary of REA ("BidCo") will acquire all the IPP shares by way of a scheme of arrangement ("Scheme"). If the Scheme is implemented, IPP shareholders will be entitled to elect, on a per IPP share basis, either (a) $4.00 in cash ("Cash Consideration"), or (b) $1.20 in cash and 0.7 shares in an unlisted entity with a continuing indirect interest in IPP ("Mixed Alternative")

- Cash Consideration of $4.00 represents a 55.0% premium to the undisturbed IPP share price, prior to REA's "notice of change of interests of substantial holder" filed on 21 July 2015, a 20.1% premium to IPP's 1 month volume weighted average price ("VWAP") of $3.33 and a 29.4% premium to IPP's 3 month VWAP of $3.09. The Cash Consideration represents a compelling Enterprise Value / Last 12 Months Revenue multiple of 28.7x

- Mixed Alternative allows IPP shareholders to elect to receive a mix of cash and scrip in an unlisted Australian company and retain an indirect ongoing interest in IPP until no later than the first half of calendar year 2018

- Transaction to be effected via court approved scheme of arrangement ("Scheme").

- The IPP directors (other than the directors nominated by REA) have recommended the Scheme, subject to no Superior Proposal emerging and subject also to the independent expert giving an opinion that the Scheme is in the best interests of IPP shareholders (other than REA)

Transaction Overview

IPP today announces that it has entered into a Scheme Implementation Deed with REA and Realestate.com.au Pty Limited, a company wholly owned by REA, under which it is proposed that a newly incorporated wholly owned subsidiary of REA ("BidCo") will acquire all the IPP shares ("Proposal"). The Proposal is to be implemented by way of a Court approved scheme of arrangement ("Scheme").

If the Scheme is implemented, IPP shareholders will be entitled to elect to receive either:

- The Cash Consideration of $4.00 cash per IPP share; or

- The Mixed Alternative comprising $1.20 cash and 0.7 shares in a newly incorporated unlisted Australian company, for each IPP share. If the Scheme is implemented, RollCo will hold a minority equity interest (of between 10.7% and 20%) in BidCo.

The Cash Consideration of $4.00 cash per IPP share represents a premium of:

- 55.0% to the undisturbed IPP share price, prior to REA's "notice of change of interests of substantial holder" filed on 21 July 20151;

- 20.1% to IPP's 1 month VWAP of $3.33 to 30 October 2015; and

- 29.4% to IPP's 3 month VWAP of $3.09 to 30 October 2015.

In addition, the Cash Consideration represents a compelling Enterprise Value / Last 12 Months Revenue multiple of 28.7x.

IPP Shareholders will be able to elect to receive the Mixed Alternative. The Mixed Alternative comprises cash and an interest in RollCo, a newly formed, Australian unlisted company that will hold an indirect, minority equity interest in IPP if the Scheme is implemented. This provides shareholders with the ability to retain an indirect ongoing interest in IPP until no later than the first half of calendar year 2018.

The Scheme is conditional upon, among other things, sufficient valid elections being received for the Mixed Alternative such that the maximum cash consideration payable by REA is equal to or less than $500m. In practice, this will result in RollCo owning 10.7% or more of the ordinary shares in BidCo. RollCo's interest in BidCo is also subject to a 20% ownership cap limiting the ownership of existing IPP shareholders in BidCo. A proportionate scale back will apply if the 20% limit is exceeded.

IPP shareholders who do not make a valid election to receive the Mixed Alternative will be deemed to have elected Cash Consideration for their IPP shares. The Mixed Alternative will not be available to Ineligible Foreign Shareholders (as defined in the Scheme). Ineligible Foreign Shareholders will receive the Cash Consideration.

The IPP directors, other than the directors nominated by REA, being Mr Patrick Grove, Mr Georg Chmiel, Mr Lucas Elliott, Mr John Armstrong ("Non-REA Directors"), recommend that, subject to no Superior Proposal emerging and subject to the independent expert giving an opinion that the Scheme is in the best interests of IPP shareholders (other than REA), IPP shareholders should vote in favour of the Scheme.

Given their relationship with REA, Mr Owen Wilson and Mr Arthur Charlaftis have been excluded from the board's consideration of the Scheme and give no recommendation.

Patrick Grove, the Chairman of IPP, commented:

"After careful consideration of all options available to maximise shareholder value, the Non-REA Directors have unanimously concluded that the Proposal is on terms which we believe reflect compelling value and are in the best interests of all shareholders."

"IPP and REA are highly complementary businesses and there is strong strategic rationale underpinning a combination. IPP was listed on the ASX in 2007 and since that time, we have grown to become Asia's leading network of property websites. REA has been a very supportive shareholder of IPP since 28 July 2014 and if the Scheme is implemented we look forward to seeing IPP's business go from strength to strength."

"This is a very exciting day for IPP shareholders. This agreement allows our shareholders to either accept a very attractive cash offer for their shares or continue to participate in iProperty through accepting the Mixed Alternative"

Non exclusivity period and standstill

The Scheme Implementation Deed contains a customary exclusivity regime which includes no shop, no talk, no due diligence and notification provisions (but not a matching right provision). However, the Scheme Implementation Deed provides that those provisions do not commence operation until the date which is 20 days after the date of the Scheme Implementation Deed. (The exclusivity provisions are contained in clause 8 of the attached Scheme Implementation Deed.)

In addition, REA is subject to a standstill regime under which it has agreed, among other things and subject to certain exceptions, not to acquire any IPP shares (other than under the Scheme) until the earlier of 30 April 2016 and the time when:

- a third party publicly announces a scheme of arrangement between IPP and its members, provided that the IPP board has publicly unanimously recommended that scheme of arrangement in the absence of a superior proposal;

- a third party publicly announces a takeover bid for any of the shares in IPP (this is a reference to a proposal that would attract the operation of s631 of the Corporations Act 2001 (Cth));

- a third party publicly announces an agreement has been entered into between the IPP (or one of its associates) and the third party which, if completed, would cause a person to acquire the whole or a substantial part of the IPP's business; or

- a third party acquires an interest in 10% or more of the IPP shares, in which case there will be no restriction on REA (other than a restriction imposed by statute) acquiring an interest in any IPP shares under a takeover bid for all the IPP shares provided that (a) the consideration offered under such a takeover bid includes an all cash amount of not less than $4.00 per IPP share and (b) any conditions to the offers under such a takeover bid are no less favourable to IPP shareholders than the conditions precedent of the Scheme (however, such conditions may include a 90% minimum acceptance condition).

The standstill regime also applies to REA's related bodies corporate and associates.

IPP and REA have also agreed a customary break fee regime under which IPP or REA (as the case may be) will be liable to pay the other a break fee if certain events occur (those events are set out in clauses 9 and 10 of the attached Scheme Implementation Deed).

Terms and conditions to the Scheme

The conditions to the Proposal are contained in the Scheme Implementation Deed and include:

- The parties agreeing the form of the BidCo shareholder agreement, the BidCo constitution and the RollCo constitution;

- IPP shareholder approval;

- minimum elections for Mixed Alternative such that the maximum cash consideration is equal to or less than $500m;

- obtaining necessary Court approval;

- no material adverse change; and

- no prescribed occurrences.

The Proposal is not conditional upon REA obtaining financing.

A copy of the Scheme Implementation Deed is attached to this Announcement.

In considering the Scheme, IPP shareholders should be aware that there are a number of risk factors, both general and specific, associated with the Scheme. These risks will be set out in the Scheme Booklet, to be provided in the coming months. IPP shareholders should read the Scheme Booklet carefully and seek appropriate advice before making a decision with respect to the Proposal.

The Non-REA Directors have commissioned an independent expert report with respect to whether the Scheme is in the best interests of IPP shareholders (other than REA).

BidCo Shareholder Agreement

The Mixed Alternative consideration will be effected through the issue of shares in a special purpose Australian company, RollCo. RollCo will hold a minority interest in BidCo (of not more than 20%), which will own the shares in IPP. RollCo and Realestate.com.au Pty Limited will enter into a shareholders' agreement as shareholders in BidCo.

Summary of BidCo / RollCo structure and shareholders' agreement

The proposed BidCo / RollCo structure is outlined below:

- To the extent that IPP shareholders elect the Mixed Alternative, BidCo will issue shares to RollCo (diluting REA's 100% interest in BidCo) as consideration for RollCo issuing shares to the existing IPP shareholders in exchange for IPP shares . This will result in RollCo holding between 10.7% and 20% of the issued shares in BidCo.

- It is proposed that the rights and obligations between Realestate.com.au Pty Limited (the REA subsidiary which is the holder of shares in BidCo) and RollCo, the shareholders of BidCo, will be governed by a Shareholder's Agreement. The Shareholder's Agreement will include, amongst other things:

- Board appointment rights for each shareholder;

- Reserved board and shareholder matters, requiring special board or shareholder approvals (such as RollCo approval);

- Deadlock resolution mechanisms in the event of disagreement on certain matters by the shareholders;

- share transfer restrictions;

- REA guarantee of Realestate.com.au Pty Limited's obligations;

- Realestate.com.au Pty Limited's representation not to exercise any compulsory acquisition rights in respect of BidCo or RollCo;

- non-compete obligations;

- arrangement by REA of a $10m working capital facility for IPP.

- Put options granted in favour of RollCo shareholders by Realestate.com.au Pty Limited will provide a progressive exit mechanism for RollCo shareholders, allowing them to sell their RollCo shares to Realestate.com.au Pty Limited during exercise windows following release of BidCo's FY16 and FY17 audited accounts. The sale price for RollCo shareholders is related to the ongoing performance of IPP and consideration paid to shareholders is subject to IPP reaching certain revenue and EBITDA hurdles.

- To the extent that the exercise of put options does not result in the sale of all shares in RollCo to Realestate.com.au Pty Limited following release of BidCo's FY17 audited accounts, Realestate.com.au Pty Limited may exercise call options over any remaining RollCo shares it does not already own.

Intention of major shareholder

Catcha Group Pte Ltd ("Catcha") holds 31,349,014 IPP shares, representing c.16.7% of IPP shares outstanding. Catcha has advised IPP that its intention is to vote in favour of the Proposal in the absence of a Superior Proposal and subject to the independent expert giving an opinion that the Proposal is in the best interests of IPP shareholders (other than REA).

Indicative timetable

An indicative timetable for the Scheme is set out below:

Event                             Expected Date
First Court Hearing Date      Mid December 2015
Dispatch of Scheme Booklet    Mid December 2015
Scheme Meeting Late                January 2016
Second Court Hearing Early        February 2016
Implementation Date           Mid February 2016

Further information

Goldman Sachs is acting as financial advisor, and Herbert Smith Freehills is acting as Australian legal advisor, to IPP.

To view the release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-IPP-889017.pdf

iProperty Group Ltd
T: +60-3-2264-6888
F: +60-3-2264-6999
WWW: www.iproperty-group.com

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Altura Mining Limited (ASX:AJM) Pilgangoora Lithium Update - Testwork Results

November 1, 2015, 2:21 pm

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Altura Mining Limited (ASX:AJM) is pleased to announce that recent testwork conducted by Midas METS Engineering on composite diamond drillhole samples from Altura's 100% owned Pilgangoora Lithium project has produced remarkable results with lithium oxide (Li20) grades up to 7.79% with a spodumene content of up to 97%.

Highlights:

- Heavy Liquid Separation (HLS) testwork on Altura's Pilgangoora Lithium project samples results in lithium oxide (Li20) grades from 7.30% up to 7.79%.

- Spodumene content from 90.9% to 97.0% in corresponding samples.

- Froth flotation testwork demonstrates the potential to significantly increase the lithium recovery of the overall project whilst still achieving a high purity lithium concentrate product.

- Test results confirm significant potential for project to deliver high grade and low impurity spodumene concentrate to the lithium market.

The heavy liquid separation (HLS) testwork performed by Midas METS Engineering on composites from four diamond drill holes PD004, PD005, PD006 and PD007.

Further testwork aimed at processing the middlings and the fine ore is currently underway at Nagrom under the supervision of Midas METS Engineering. The material is scheduled to be ground to 106 micron and processed downstream by froth flotation for the recovery of spodumene. The froth flotation test work has the potential to significantly increase the lithium recovery of the overall project whilst still achieving a high purity lithium concentrate product.

A high grade composite (HGC) and a low grade composite (LGC) were created from the four diamond drill holes at Altura's Pilgangoora project. The composites were homogenised before samples were split out and crushed to -10.0 mm, -6.0 mm and -3.35 mm, screened at 0.5 mm and subjected to heavy liquid separation (HLS). Summary results from the HLS tests show that high purity (90-97%) spodumene concentrates were obtained at these coarse sizes (Table 1, see link below).

Following the encouraging HLS results, dynamic dense media separation (DMS) test work was performed on the Pilgangoora composites. The ore was crushed to -3.35 mm and screened at 0.5 mm to remove the fine fraction from the DMS feed. The ore was run through a dense media cyclone at specific gravities of 2.7 and 3.0. The concentrate stream was retreated by the dense media cyclone at a specific gravity of 3.0. The two stage DMS cyclone achieved a cleaner concentrate stream containing 6.89% lithium (86% spodumene).

During operation, material reporting to the cleaner recycle stream is combined with the initial feed material which increases the grade of lithium in the DMS feed. Scoping Study test work performed in 2012 has shown that this only improves the DMS kinetics and allows for higher grades and greater recoveries to be obtained. This suggests that grades greater than 7.0% Li20 are achievable through DMS cyclone once equilibrium has been reached.

Additionally, garnet and mica removal test work has been scheduled which has the potential to upgrade the cleaner concentrate further, suggesting that concentrate grades of up to 7.5% Li20 are achievable at plant scale.

The material reporting to the DMS tailings stream contained minimal lithium indicating the potential for high lithium recovery over the plant. By not carrying out further processing of the tailings stream allows for the rejection of 68% of the mass with a lithium oxide grade of only 0.24% thereby vastly reducing the capital and operating costs of processing the finer ore sizes.

Altura is extremely pleased with these results and again confirms the significant potential of the project. The Company will continue to direct substantial resources to the project in line with its objective for fast tracking the development.

The Company believes the project delivers Altura's key objectives in:

- High demand commodity with compounding growth projections
- Potential for low cash operating costs due to shallow and thick high grade zones
- Manageable capital input utilising proven technology
- Access to excellent infrastructure including roads and ports
- Ideal proximity to significant Asian end user markets
- Well known mining area with stable governing laws

Altura will continue to proceed with the project feasibility as planned with the detailed mining study nearing completion. Further updates on the feasibility study will be provided in future ASX announcements.

Product Photographs

Photos under white light and under ultra-violet light have been taken of the products from the DMS cyclone test work. Note: spodumene fluoresces pink or purple under UV light.

To view the release including figures and photos, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AJM-740853.pdf

James Brown
Managing Director
T: +61 8 9488 5100

Chris Evans
General Manager Operations
T: +61 419 853 904

Altura Mining Limited
T: +61 8 9488 5100
F: +61 8 9488 5199
E: info@alturamining.com
WWW: www.alturamining.com

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99 Wuxian Ltd (ASX:NNW) September 2015 Quarterly Trading Update

November 1, 2015, 2:27 pm

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99 Wuxian, (ASX:NNW) ("99 Wuxian" or "the Company") is pleased to provide a trading update for the September 2015 quarter.

Highlights:

- Gross Transaction Value of RMB 12.0 billion over the last twelve months ("LTM") 30 September 2014, up 53% over the twelve months to 30 September 2014

- Total registered user base of 49.0 million, up 34% from 30 September 2014

- 48.3 million transactions completed on the platform over the LTM, up 68% over the twelve months to 30 September 2014

- LTM revenue of RMB 179.8 million, up 21% over the twelve months to 30 September 2014

Key performance metrics can be viewed in the link below.

Registered users

99 Wuxian's registered user base reached 49.0 million in the September quarter, growing by 12.5 million since 30 September 2014. The growth in registered users reflects the continued success of 99 Wuxian's joint marketing campaigns with its business partners, increasing penetration rates among mobile banking users and the expansion of the platform through the addition of new business partners and distribution channels.

Transactions

During the quarter, a record number of 15.0 million transactions were completed through the platform. On an LTM basis, 48.3 million transactions were completed through the platform an increase of 68% over the twelve months to 30 September 2014. The increase in transaction volume has been driven by the growth of the registered user base and increasing levels of user engagement.

Average Transaction Value ("ATV")

The average value of all transactions completed on the platform for the quarter was RMB 246, up 24% over the prior corresponding period ("pcp"). Over the last twelve months, ATV has declined 8% from RMB 271 to RMB 248. The movement in ATV is the result of changes in user behaviour and a proactive strategy to increase user engagement on the platform through marketing initiatives including the use of promotional discounts.

Gross Transaction Value ("GTV") and platform revenue

99 Wuxian generated record GTV of RMB 3.7 billion for the quarter, up 101% over the pcp. On an LTM basis, GTV totalled RMB 12.0 billion, representing a 53% increase over the twelve months to 30 September 2014. The growing number of registered users, transaction volumes and transaction values all combined to deliver the record result.

For the third quarter, 99 Wuxian reported revenue of RMB 39.6 million, a 6% decrease from the same period in 2014. On an LTM basis, 99 Wuxian reported revenue of RMB 179.8 million, up 21% over the twelve months to 30 September 2014.

Revenue performance during the quarter was impacted by the use of promotional discounts as part of 99 Wuxian's pro-active user acquisition and engagement strategy. The Company has driven both GTV and registered user growth by directly passing on a proportion of the commission it receives from merchants to consumers. The use of promotional discounts has been offset by a significant decrease in fixed marketing expenses compared to the pcp. The Company actively manages its acquisition and engagement strategy and will continue to review, consider and implement appropriate strategies to drive the future growth of the platform.

To view the release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-NNW-889038.pdf

99 Wuxian Limited 
Mr Ross Benson 
T: +61 418 254 548 

Fowlstone Communications
Mr Geoff Fowlstone
T: +61 413 746 949

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MMJ PhytoTech Ltd (ASX:MMJ) Quarterly Update Report

November 1, 2015, 2:28 pm

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MMJ PhytoTech Limited (ASX:MMJ) ("MMJ" or the "Company") today announces its activities report for the quarter ended 30 September 2015.

Highlights:

- PhytoTech Medical and MMJ Bioscience merger successfully closed in late July, strategically positioning the Company as a vertically-integrated, Medical Cannabis ("MC") company with operations across the entire MC value chain and in key MC markets

- Trading in the combined MMJ PhytoTech Limited ("MMJ" or the "Company") on the ASX commenced 28 July 2015 after completion of oversubscribed $4.8m equity offering

- New Board members and management welcomed, Scientific Advisory Board dissolved

- Minor post-merger integration of business units completed smoothly with operations streamlined in to three business units spanning "Farm to Pharma": Cultivation, Pharmaceutical Processing and Clinical Development

- Cultivation: Duncan Facility completed and awaiting inspection by Health Canada after final security installations, facility optimizations and internal pre-emptive deficiency audit completed throughout and subsequent to end of quarter

- Pharmaceutical Processing: Satipharm generates first revenues from sale of proprietary CBD Gelpell(R) Gastro-Resistant Microgel Capsules ("Capsules") through newly launched direct sales platform www.Satipharm.com

- Clinical Development: MMJ's subsidiary PhytoTech Therapeutics receives approval from all relevant bodies for MMJ's first clinical trial which commenced in Israel in late October

- Following the announcement that the Federal Government of Australia intends to legalise MC, MMJ moves quickly to retain Australian based legal firm Piper Alderman as its strategic advisor to guide the Company on regulatory and licensing approvals in the Australian market

- MMJ secured $2m of equity financing from a European Institutional Investor in October

- The Company has a positive outlook for the December 2015 quarter which is expected to be transformational across all three divisions: Duncan MMPR progression, expansion of Satipharm and clinical trials commencing in Israel

Corporate

The merger of MMJ Bioscience and PhytoTech Medical closed successfully on 27 July 2015 and the combined entity, MMJ PhytoTech Limited, commenced trading on the ASX after completing a $4.8mm oversubscribed equity offering on 28 July 2015. The funds raised enabled the Company to accelerate Satipharm's business plan and to complete the necessary upgrades to the Duncan Facility in advance of the pre-licensing inspection by Health Canada expected in November. The Company subsequently changed its name to "MMJ PhytoTech Limited" and its ASX code to "MMJ".

Following the completion of the merger, MMJ announced changes to the Board and leadership designed to better position the Company strategically in line with its post-merger business plan. The Board welcomed Mr. Andreas Gedeon as the Company's Managing Director and Mr. Jason Bednar and Mr. Ross McKay as Non-Executive Directors during the quarter, with Executive Directors, Mr Boaz Wachtel, and Mr Benad Goldwasser stepping down from their positions on the Board of the Company. Together with Peter Wall, Chairman, and Mr. Winton Willesee, Non-Executive Director, the new board is streamlined and balanced with each member contributing a distinct range of skills, contacts and strengths relevant to MMJ's business plan.

The post-merger integration was an exceptionally smooth and quick process. MMJ established three divisions each at crucial points along the 'Farm to Pharm' continuum. The Cultivation Division includes the Company's Canadian based MMPR applicants the Duncan Facility and the Lucky Lake Facility operating under the name United Greeneries. The Pharmaceutical Processing Division consist of the Swiss-based pharma-grade bulk & packaged compound operations such as the manufacturing and distribution the CBD Capsules. Under the brand Satipharm, there are plans to develop new products and enter into different geographic markets in the near term. Finally, the Clinical Development Division which conducts MMJ's Israeli-based R&D of pharmaceutical applications and delivery technologies under the name PhytoTech Therapeutics.

Operational

Cultivation Division: Significant progress was made at MMJ's Duncan Facility located near Vancouver, BC, Canada. Extensive security upgrades were completed during the quarter to ensure compliance with Health Canada's evolving security requirements. Under the direction of one of the top MMPR security consultants, the upgrades were thorough and also designed to help save costs going forward. Management is highly confident that the Duncan Facility will pass Health Canada's pre-licensing inspection with very few deficiencies, if any. Subsequent to the end of the quarter all of the upgrades were completed and pre-licensing inspection is expected in mid-November.

Pharmaceutical Processing Division: A significant milestone was passed in the September quarter with Satipharm generating MMJ's first revenues through sales of its CBD Capsules. The Capsules are being marketed to consumers via the newly launched direct sales platform www.Satipharm.com and to potential wholesale clients by a small, specialised sales team. The online direct sales platform was launched late August with a significant digital marketing campaign planned for early September. Management were encouraged by the initial high level of interest in the website and Capsules.
After receiving orders in the first week that exceeded management's expectations, Satipharm was informed that its transaction processor Paypal had suspended its accounts, reversed all transactions and would no longer provide Satipharm with transaction processing services. Finding a solution to this issue became a priority and several MMJ employees and advisors globally were tasked with this job. There appears to currently be a number of viable alternatives available to the Company. As such, it is anticipated that Satipharm.com will recommence accepting credit cards orders shortly.

Despite this, Satipharm generated modest revenues in the September quarter from online buyers transacting using bank transfers. Further, sales via bank transfer grew month over month for October vs September. The digital marketing campaign was postponed to coincide with the resumption of credit card orders being operational so these sales were made without any marketing effort.

Sales for the quarter were much lower than management had expected as a result of customers not being able to use Paypal or credit cards to pay for their orders. Management was, however, encouraged by the amount of sales achieved without any marketing or convenient payment options. With a solution to the transaction processing problem imminent, management is confident that Satipharm will be back on track very soon.

Clinical Development: PhytoTech Therapeutics received approval for MMJ's first Phase I Clinical study from all relevant bodies. The study will be conducted in Israeli and will focus on testing the safety and performance of its proprietary oral capsule formulations. Initial stability studies have indicated an extended shelf life of the oral capsule formulation at room temperature, providing the potential to increase market share by lower product costs and increased patient compliance. The Study commenced in late October 2015.

Progress made across all three divisions was significant and further anchored the Company's Farm to Pharma strategy. In the near future there is potential for MMJ to be growing MC in Canada, conducting further trials in Israeli as well as producing multiple compounds in multiple jurisdictions through Satipharm.

Outlook

One month in to the December quarter and already MMJ has commenced an investigation into the Australian MC market after the Federal Government announced its intention to legalise MC in Australia. MMJ reacted quickly to this unexpected catalyst by engaging Australian based legal firm Piper Alderman as a strategic partner to guide the Company on regulatory and licensing approvals in the Australian market. MMJ is well suited as an early player in an Australian MC market given its extensive compliance experience in Canada, its access to capital in Australia and its commitment to aggressive but disciplined growth. As the only Australian listed company with a cannabis cultivation division, MMJ is well positioned to be a leader in the sector however the Australian regulation unfolds.

Subsequent to the end of the September quarter and after news of the Federal Government moving to legalise MC, MMJ completed a $2m equity offering with a leading European institutional investor to accelerate its entry in the Australian market.

The Company expects the December quarter to hold a number of crucial value catalysts and the Company is ready to approach each one with vigour. MMJ is expected to be a completely different business by Q1 2016. With the anticipated pre-licensing inspection of Duncan expected before year end, growth of Satipharm operations into new jurisdictions and the completion of the Company's first Phase 1 Clinical Trial, MMJ will continue to expand and accelerate towards becoming a major player in the global medicinal cannabis market.

MMJ PhytoTech Ltd
T: +61 8 9389 3150
F: +61 8 9389 3199
E: info@mmjphytotech.com.au
WWW: www.mmjphytotech.com.au

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Regeneus Ltd (ASX:RGS) Partners with a Leading Animal Health Company

November 1, 2015, 3:10 pm

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Regeneus (ASX:RGS), a clinical-stage regenerative medicine company, announced today that it had entered into an agreement with one of the world's top 5 animal health companies to partner the development and commercialisation of CryoShot Canine. CryoShot is a proprietary "off-the-shelf" allogeneic stem cell therapy for dogs with osteoarthritis (OA) and other musculoskeletal conditions developed by Regeneus that has undergone extensive successful field trials in Australia.

Under the terms of the agreement, the animal health partner will jointly fund a pre-pivotal study assessing CryoShot as a treatment for canine osteoarthritis in consideration for an exclusive option to develop and commercialise CryoShot Canine.

Professor Dorothy Brown, who leads the Veterinary Clinical Investigations Center at the University of Pennsylvania School of Veterinary Medicine, will be the principal investigator on the study. The study, which commenced on 2 November 2015, will assess pain and dysfunction in eighty (80) arthritic, client owned dogs. Dogs will be treated with CryoShot Canine via intra-articular injection, or a control and will be assessed by validated questionnaires and force-plate analysis. The results of the trial will be used to finalize the design of a pivotal US Food and Drug Administration (FDA) trial with good manufacturing practice (GMP) grade product. The results of the study are anticipated in Q3 2016.

Upon completion of the study, the animal health partner has a period in which to exercise its option to enter into an exclusive licence over the CryoShot technology. Under the terms of the licence, Regeneus will receive an upfront licence fee and be entitled to other development milestone payments to be agreed at the time. The animal health partner will be responsible for funding the pivotal study and GMP manufacture of CryoShot and have exclusive global rights for sales and marketing for canine applications. Regeneus will receive a royalty on all CryoShot sales.

"Our vision is to make CryoShot one of the first allogeneic off-the-shelf stem cell therapies available for the treatment of canine osteoarthritis. We're delighted to have a world-leading animal health company that shares this vision, as well as a veterinary pain specialist of Professor Brown's calibre leading the study" said Duncan Thomson, Head of Animal Health at Regeneus.

Osteoarthritis is the dominant musculoskeletal condition in dogs and is associated with pain and degeneration of joint tissues. Non-steroidal anti-inflammatory drugs (NSAIDs) are the mainstay treatment for pain associated with OA. The companion animal pain market has been estimated to be USD$260m in the US alone, while the global pain market is in the region of USD$0.5b per annum.

Sandra McIntosh
Investor Relations
Regeneus Ltd
T: + 61 2 9499 8010
E: Sandra.mcintosh@regeneus.com.au

Regeneus Ltd
T: +61 2 9499 8010
F: +61 2 9499 8020
E: info@regeneus.com.au
WWW: www.regeneus.com.au

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Central Petroleum Limited (ASX:CTP) Chairman's Address to Shareholders

November 1, 2015, 4:25 pm

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Central Petroleum Limited (ASX:CTP) are pleased to provide the Chairman's Address to Shareholders at the Annual General Meeting.

Chairman's Address:

I take great pleasure in welcoming you to the Annual General Meeting of your company, Central Petroleum Limited. This is my first shareholder meeting as your Chairman and I look forward to meeting with as many of you as possible today. Joining me is our Managing Director Richard Cottee and my fellow Non-Executive Directors Andy Whittle, Wrix Gasteen, Peter Moore, and Tom Wilson. We are also joined by our Joint Company Secretaries Joseph Morfea and Daniel White. The Executive Team of Central are also in attendance.

The meeting will progress today with a short address from me, then we will move to the business in the notice of meeting. I will then close the formal aspects of the meeting and Richard will present on the potential before us all at Central. There will be opportunities for questions throughout the meeting.

Although we necessarily focus on the future potential for Central any Annual General Meeting should reflect on the year. 2015 cemented Central's position as the leading producer of on shore gas in the Northern Territory. The transition from opportunistic explorer to producer has been achieved far quicker than most thought possible. More importantly it has positioned Central to take maximum advantage of a post North East Gas Interconnector (NEGI) world. However, this has been done in a year of great volatility for the resources industry and oil and gas in particular. Volatility appears the new norm and predicting the outcome of oil price wars, industrial demand, the Middle East geo political environment and even the tenure of an Australian prime minister all seems fraught with danger. In this environment the attraction of an East Coast Gas market underpinned by long term gas sales agreements increases every day.

Our role as operator though brings many new responsibilities. The safety of our employees and the success of the communities in which we operate is at the heart of everything we do. In the last year we have assumed operatorship of Mereenie and constructed Dingo with an exemplary safety record. We have a deliberate strategy of engaging with our local communities and the traditional owners and an employment philosophy that increases the level of local and indigenous employment.

When people reflect back on Central, the pivotal moment will be the decision that was made by Richard and the board at that time to focus on the fundamental competitive advantage of Central and develop a strategy that would see that advantage become a reality. Central's vast acreage position is essentially gas prone. Any focus on oil was always less optimal but thought to be the only alternative in the absence of a market for gas. The pivot was the decision to advocate for NEGI to create a market for our gas. As each day passes the dynamics of the East Coast Gas market become increasingly apparent and the construction of NEGI more likely. This has been the strategy for 3 years and it has taken courage to resolutely stick to the strategy. It is only in recent weeks that the market appears to have appreciated what has been developed at Central.

The doors to the equity capital markets for oil and gas companies have been firmly closed since the sudden oil price fall in 2014. However through prudent cost control, the support of our principal lender Macquarie Bank and effective cash flow management we have been able to prosecute our growth strategy. I acknowledge that this is not without risk but the greater risk would have been to miss out on the opportunities delivered by the acquisition of Palm Valley, construction of Dingo and the recent purchase of 50% and operatorship of Mereenie.

Positioning Central to take advantage of a post NEGI world has been made possible by the efforts of Richard and his management team. They have all been critical contributors. As a consequence in 2015 we restructured various aspects of the executive remuneration arrangements to reflect the continued evolution of Central and to better align the interests of shareholders and management.

The key aspects of this restructure have been:
- Richard's secondment arrangement with Freestone Energy Partners was transitioned to a direct employment agreement with Central.

- A contemporary performance rights long term incentive plan was introduced focused not only on relative performance but also absolute share price performance. Central is unashamedly a growth company where the board believe above average growth in share price not just relative share price performance should be our goal.

The performance hurdles have been designed for the Central of today where we have ambitious goals for share price growth in a post NEGI world. However, when the value of our acreage is more fully recognized and we move to a strategy of exploiting that value through targeted exploration and ultimately greater production we will review and alter the performance hurdles to ensure shareholder and executive goals remain aligned.

In closing I would like to thank Richard and his executive team for their imagination and sheer hard work throughout the year and you our shareholders for your patience and support.

Finally I would like to pay tribute to Andy Whittle who is retiring from the board following the AGM. Andy was Chairman for a relatively short time joining the board in 2012, becoming Chairman in April 2013 and standing down from that role in July this year. However, in that time he has led much change at Central. A joint architect of our strategy, restructuring the board and lifting the level of governance and finally bringing the many years of his experience at Exxon to the company. We will miss Andy's valuable advice around the board room table and he certainly leaves Central in far better shape than when he joined.

Robert Hubbard
Chairman of the Board

Central Petroleum Limited
T: +61 7 3181 3800
F: +61 7 3181 3855
WWW: www.centralpetroleum.com.au

↧

Forex Industry Conference: An Insider's Look into the World's Largest Market

November 1, 2015, 5:31 pm

≫ Next: Traditional Therapy Clinics Ltd (ASX:TTC) Enters into Contracts to Acquire Four New Clinics in China

≪ Previous: Central Petroleum Limited (ASX:CTP) Chairman's Address to Shareholders

Shift Forex invites you to the second annual Shanghai Forex Industry Conference (FXIC)! On December 8, 2015 influential FX leaders from around the world will come together to exchange ideas about the most important happenings in the forex market. This conference is the perfect opportunity for market participants to interact with leading brokers, technology providers, and experts and learn the ins and outs of the largest market in the world.

Attendees will have access to:

- New highly popular speed networking sessions
- Prominent international companies and professionals
- Topical discussion panels covering a variety of industry trends

FXIC Shanghai is the ideal venue for you to learn the secrets of institutional FX and establish your presence in the global FX space.

Register at: http://shanghai.fxic.com/register/

For more information please visit:
http://shanghai.fxic.com

Shift Forex
T: +1 646 808 3040
E: info@shiftforex.com
WWW: www.shiftforex.com

↧

Traditional Therapy Clinics Ltd (ASX:TTC) Enters into Contracts to Acquire Four New Clinics in China

November 1, 2015, 8:02 pm

≫ Next: My Net Fone Limited (ASX:MNF) Forecasts Strong EBITDA Growth of 42% to $17.3m for FY16

≪ Previous: Forex Industry Conference: An Insider's Look into the World's Largest Market

Traditional Therapy Clinics Limited (ASX:TTC) has entered into contracts to acquire four clinics from its franchised clinic base in line with its business strategy to grow its owned clinic network and diversify its revenue stream.

The purchase price for all four clinics is RMB 31.7 million which equates to AUD $6.73 million at an exchange rate of 4.71 (AUD:RMB). The purchase price represents an EBITDA multiple of between 2 and 2.3 based on earnings in the 2014 financial year.

The clinics to be acquired are located in Liuzhou, Zhanjiang, Haikou and Nanning cities and will take the number of clinics owned directly by TTC to 15, complementing its 311 franchised clinics throughout China. Settlement of the acquisitions is expected to be complete by the end of November 2015.

TTC's Growth Strategy

TTC's multi pronged growth strategy is focused on:

- Growing its number of franchised clinics; and

- Expanding its owned clinic network through the acquisition of existing clinics (from third parties or franchisees) or developing greenfield owned clinics in suitable locations.

Since 2011, the average annual growth in the number of TTC franchised clinics has been approximately 40% and the company forecasts a growth rate of franchised clinics of c.12% in the 2015 financial year.

The "owned clinic" model has become a key focus given the ability to generate a greater return on investment and its added advantage of assisting with projecting the company brand and establishing the high standards of service within the TTC network.

TTC is targeting a further 7 clinic acquisitions from its franchised clinic network over the next 2-3 months.

To support this growth, TTC intends to extend its current involvement in training with the establishment of an additional training facility in addition to the current facility it operates in conjunction with Chongqing Municipal Health Bureau. TTC's "control" over the supply of appropriately qualified therapists is considered a durable competitive advantage and a potential barrier for aspiring competitors to provide similar levels of service to TTC.

Mr John Wu
Chief Financial Officer
T: +61 405 223 877
E: john.wu@ttc-ltd.com

↧

My Net Fone Limited (ASX:MNF) Forecasts Strong EBITDA Growth of 42% to $17.3m for FY16

November 1, 2015, 7:25 pm

≫ Next: MZI Resources Ltd (ASX:MZI) Capital Raising Update

≪ Previous: Traditional Therapy Clinics Ltd (ASX:TTC) Enters into Contracts to Acquire Four New Clinics in China

The Annual General Meeting (AGM) of global telecommunications software and network provider My Net Fone Limited (ASX:MNF) took place on Tuesday, 27th October 2015. In addition to AGM formalities, CEO Rene Sugo delivered a presentation to shareholders recapping the highlights of a very successful financial year and the proposed strategies for continued growth.

Highlights:

- MNF has had four consecutive years of profitable double digit EBITDA and NPAT growth.

- EBITDA performance was very strong, achieving $12.2m, which was 9% over original FY15 forecast.

- MNF forecasts strong EBITDA growth of 42% to $17.3m for FY16.

- MNF is investing for long term growth.

Building for Growth

- MNF is on the verge of a global & domestic organic growth phase
* There are more opportunities for new business than MNF can service today.
* In the new financial year, focus will be on prioritising in order to deliver highest growth opportunities & capitalise on customer demand

- Ramping up Domestic & Global wholesale customer base
* Domestic Service Provider customers up 45% YoY in FY15.
* Global Service Provider customers up 8% in 6 months since TNZI acquisition.

- Compounding growth
* Adding more Service Provider customers while they also grow their own volumes.

Our long-term strategic growth is anchored on two fronts:-

1. Taking our wholesale services global - leveraging the TNZI assets - by completing the TNZI network upgrades and expansion and rolling out Symbio managed services products into key global markets; and

2. Continuing organic growth domestically - leveraging the existing Small to Medium Business and Wholesale Managed Service product offerings into the domestic market.

In order to meet current and future demands MNF is also planning to increase staff numbers with a recruitment drive for skilled workers that can add value to the business. This has all be planned and fully funded in the FY16 forecast numbers.

With a discerning and conservative approach, the Board of My Net Fone will continue to actively search for and examine further acquisition opportunities, whilst remaining totally committed to driving growth and performance within the business.

MNF remains confident that the company will achieve solid growth in the coming year and well into the future.

To view the complete Annual General Meeting and CEO Presentation, please visit:
http://media.abnnewswire.net/media/en/docs/81298-MNF_ASX_27102015.pdf

Rene Sugo, CEO
MNF Group Limited
T: +61 2 8008 8090
F: +61 2 8008 8008
E: investor@mynetfone.com.au
WWW: www.mnfgroup.limited

↧

MZI Resources Ltd (ASX:MZI) Capital Raising Update

November 2, 2015, 2:26 pm

≫ Next: KGL Resources Ltd (ASX:KGL) New Prospects Discovered at Yambah Project

≪ Previous: My Net Fone Limited (ASX:MNF) Forecasts Strong EBITDA Growth of 42% to $17.3m for FY16

MZI Resources Ltd (ASX:MZI) (MZI or the Company) refers to its announcement on 27 October 2015 regarding a placement of 106,560,036 ordinary fully paid shares in the capital of the Company at $0.40 per share (Placement) and a share purchase plan to existing eligible shareholders to raise $2.0 million (SPP).

The Company's major shareholder, Resource Capital Fund VI L.P. (RCF), has provided a written commitment to acquire shares to the amount of $20.6m in the Placement. The ASX has informed the Company that RCF is a person whose relationship with MZI is, in ASX's opinion, such that ASX Listing Rule 10.11 applies. Accordingly, prior approval of MZI shareholders is required for the issue of shares to RCF under the Placement.

The Company advises that the following adjustments have been made to the tranches comprising the Placement as follows:

- Tranche 1 consists of approximately 8.7 million shares (previously 12.5 million shares). The shares will be issued under MZI's 15% placement capacity in accordance with ASX Listing Rule 7.1. RCF will not participate in this tranche.

- Tranche 2 consists of approximately 67.0 million shares (previously 66.3 million shares) to be issued subject to shareholder approval at the Company's Annual General Meeting to be held on 24 November 2015. RCF has committed to subscribe for approximately 20.7 million shares of the total shares to be issued in tranche 2.

- Tranche 3 consists of approximately 31.1 million additional shares (previously 28 million shares) to be issued to RCF subject to successful completion of Tranche 2 of the Placement and the approval of MZI shareholders. A separate meeting of shareholders will be convened for this purpose. Following the approval of Tranche 3, the Company will open the SPP.

Updated Timetable

SPP Record Date                          Monday 26 October, 2015
Tranche 1 Allotment of Placement shares  Tuesday 3 November, 2015
Annual General Meeting 
(Approval of Tranche 2 shares)           Tuesday 24 November, 2015
Tranche 2 Settlement of Placement shares Monday 30 November, 2015
Tranche 2 Allotment of Placement shares  Tuesday 1 December, 2015
Extraordinary General Meeting to approve  
issue of Tranche 3 shares to RCF *       Early/Mid-January 2016
Tranche 3 settlement and allotment*      Early/Mid-January 2016
SPP Opening Date                         Mid-January, 2016
SPP Closing Date                         Late January 2016

* Dates are indicative only and subject to change.

Trevor Matthews
Managing Director
T: +61 8 9328 9800

↧

KGL Resources Ltd (ASX:KGL) New Prospects Discovered at Yambah Project

November 2, 2015, 3:36 pm

≫ Next: Raya Group Ltd (ASX:RYG) Xped Featured in the Australian Financial Review

≪ Previous: MZI Resources Ltd (ASX:MZI) Capital Raising Update

KGL Resources (ASX:KGL) is pleased to announce the discovery of two new base metal prospects at the Yambah Project. The Dawn and Emily prospects (Figure 1) were discovered during reconnaissance mapping on the Bald Hill tenement (EL28271).

Highlights

- Two new base metal prospects discovered

- Copper and lead-zinc occurrences extend for over 500m

- Rock chips return assays of up to 1.5% Zn, 0.89% Pb, 0.58% Cu

- No previous exploration or drilling

At Dawn, the mineralized trend comprising gossans and ironstone hosted by limestone, calcsilicate and skarnoid units extends for over 500m. Rock chip results returned assays of up to 0.89% Pb, 0.15% Zn and 0.13% W. At Emily, ironstones, gossans and magnetitequartzite units in marble and calc-silicate with malachite (copper) occurrences extend for 800m. Samples of marble and ironstone returned assays of up to 1.5% Zn, 0.58% Cu and 0.12% Pb.

Compilation of previous exploration has revealed that no previous exploration or drilling has been conducted to test these prospects.

Background

The Yambah project comprises two Exploration Licences located 60km north and northeast of Alice Springs in the Strangways Metamorphics. The tenements were acquired by KGL from Mithril Resources in April 2015 because of similarity with the style and age of mineralisation at Jervois.

Previous exploration identified several base metal prospects that have been interpreted to be stratabound sediment hosted or volcanic associated massive sulphide.

The most advanced prospect is Red Rock Bore on EL28175 (Harry Creek) where drilling has previously taken place by Pasminco (Figure 2). Mineralisation is hosted by magnetitequartzite that has a strike length of over 1km. The best intersection was 13.35m @ 3.3% Zn, 0.5% Pb from 131m in hole RRK031 including 1m @ 13.6% Zn from 132.3m.

The Rankins prospect on EL2827 has exposures of ironstone/gossan over a strike length of 1km. One of the ironstones is coincident with a mid-time electromagnetic conductor that has not been drilled. Two holes drilled under a shaft sunk on an ironstone ridge by Central Pacific Minerals in 1971 returned a best intersection of 1.9m @ 2.5% Pb and 1.2% Zn with up to 20% magnetite-pyrite in drill hole PH NT 17-5.

Other prospects include Gecko and Turners. Grab samples at Turners contained up to 11.85% Cu, 34.4g/t Au and 36.8g/t Au (Sample ID 87112).

Next Steps

Previous exploration companies have completed early stage exploration on the Yambah project, however significant potential remains for the discovery of a large stratabound sulphide deposit.

Reconnaissance level exploration is planned to progress the existing and new prospects to a drill ready status. Fieldwork will include detailed mapping, rock chip sampling and geophysical surveys. Reconnaissance level exploration will also be conducted with the aim of locating additional mineralised trends.

To view tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-KGL-889386.pdf

Mr Simon Milroy
Managing Director
Phone: (07) 3071 9003

↧

Raya Group Ltd (ASX:RYG) Xped Featured in the Australian Financial Review

November 2, 2015, 4:25 pm

≫ Next: Thomson Resources Ltd (ASX:TMZ) Share Placement and Appendix 3B

≪ Previous: KGL Resources Ltd (ASX:KGL) New Prospects Discovered at Yambah Project

Raya Group Limited (ASX:RYG) ("Raya" or "the Company") wishes to advise a featured article on Xped Holdings Limited ("Xped") was published today in the Technology section of the Australian Financial Review ("AFR").

The AFR article quoted from an interview with Xped's CEO John Stefanac, and highlighted their decision for a Reverse Take Over ("RTO") with Raya to access necessary capital to commercialise their product and technology.

An online copy of the article can be accessed by the link below:
http://www.abnnewswire.net/lnk/KOGN5047

Raya Group Ltd
T: +61-3-9642-0655
F: +61-3-9642-5117
WWW: www.rayagroup.com.au

↧

Thomson Resources Ltd (ASX:TMZ) Share Placement and Appendix 3B

November 2, 2015, 4:47 pm

≫ Next: AUDIO: Blackmores Limited (ASX:BKL) Interview with CEO Christine Holgate and Bega Cheese Ltd (ASX:BGA) Chairman Barry Irvin

≪ Previous: Raya Group Ltd (ASX:RYG) Xped Featured in the Australian Financial Review

Thomson Resources Ltd (ASX:TMZ) is pleased to announce that it has finalised a placement of new shares to several private investors for a total value of $95,000.

The Placement comprises an issue of 1,900,000 ordinary shares at an issue price of 5 cents per share. The issue price represents a small discount to the volume weighted average price (5.2c) of Thomson Resources shares since the latest drilling results were released on 21 October. Attached is an Appendix 3B for the issue of the placement shares.

The purpose of the new funding is to progress the drilling at the Bygoo tin project where outstanding drill results including 35m at 2.1% Sn, 10m at 2.0% Sn and 13m at 1.0% Sn have been returned from shallow depths in recent drilling (detailed in Thomson's quarterly report for September 2015). The new drilling will be targeted to establish the true width of these mineralised greisens and to extend the footprint of the mineralised zone.

Thomson Resources Ltd
T: +61-2-9906-6225
F: +61-2-9906-5233
E: info@thomsonresources.com.au
WWW: www.thomsonresources.com.au

↧

AUDIO: Blackmores Limited (ASX:BKL) Interview with CEO Christine Holgate and Bega Cheese Ltd (ASX:BGA) Chairman Barry Irvin

October 30, 2015, 9:28 pm

≫ Next: FINANCE VIDEO: Byte Power Group (ASX:BPG) CEO Alvin Phua Talks about the Growing Wine Power Business

≪ Previous: Thomson Resources Ltd (ASX:TMZ) Share Placement and Appendix 3B

AUDIO: Blackmores Limited (ASX:BKL) Interview with CEO Christine Holgate and Bega Cheese Ltd (ASX:BGA) Chairman Barry Irvin.

With the business tie up between Blackmores Limited and Bega Cheese Limited, a synergy between to well known brands is set to provide value for consumers and investors alike.

The Bega Cheese Ltd subsidiary "Tatura" has been manufacturing milk products for many years and is now focusing their technology providing "Life Stage" nutritional products for distribution through Blackmores Ltd.

In a discussion with Christine Holgate and Barry Irvin, the foundation for that business relationship is explained.

To listen to the interview, please visit:
http://www.abnnewswire.net/press/en/81391/bega

Blackmores Limited
Sally Townsend, Head of Brand Communications
T: +61-2-9910-5122
E: stownsend@blackmores.com.au
WWW: www.blackmores.com.au


Bega Cheese Limited
WWW: www.begacheese.com.au

↧

FINANCE VIDEO: Byte Power Group (ASX:BPG) CEO Alvin Phua Talks about the Growing Wine Power Business

November 1, 2015, 12:23 am

≫ Next: Proposed Merger Between iProperty Group Ltd (ASX:IPP) and REA Group (ASX:REA)

≪ Previous: AUDIO: Blackmores Limited (ASX:BKL) Interview with CEO Christine Holgate and Bega Cheese Ltd (ASX:BGA) Chairman Barry Irvin

Byte Power Group (ASX:BPG) CEO Alvin Phua Talks about the Growing Wine Power Business to ABN Newswire.

Wine Power Pty Ltd is a wholly-owned subsidiary of Byte Power Group Limited, an Australian Company listed on the Australian Stock Exchange (ASX). Wine Power is focused on exporting premium Australian wines to Asia, especially our own range of 8 Eagles wines from the Barossa Valley in South Australia.

The company's Singapore division was established in 2013 in order to strengthen the company's wine sales and distribution platform across markets in South-East Asia. As well as distributing our 8 Eagles range of wines, Wine Power distributes a range of well recognised and highly sought after wines, including prestigious labels such as Penfolds, Wolf Blass, Wynns Coonawarra Estate, Rosemount Estate, Lindeman's and Saltram to name a few. Wine Power is growing it's wine distribution business across new and developing markets and is continuously looking for new growth opportunities, especially in China.

The flagship brand "8 Eagles" can be found on the Wine Power website:
http://www.winepower.com.au

To watch the video, please visit:
http://www.abnnewswire.net/press/en/81392/wine

Byte Power Group Limited
T: +61-7-3620-1688
F: +61-7-3620-1689
WWW: www.bytepowergroup.com

↧

Proposed Merger Between iProperty Group Ltd (ASX:IPP) and REA Group (ASX:REA)

November 1, 2015, 2:18 pm

≫ Next: Altura Mining Limited (ASX:AJM) Pilgangoora Lithium Update - Testwork Results

≪ Previous: FINANCE VIDEO: Byte Power Group (ASX:BPG) CEO Alvin Phua Talks about the Growing Wine Power Business

Event                             Expected Date
First Court Hearing Date      Mid December 2015
Dispatch of Scheme Booklet    Mid December 2015
Scheme Meeting Late                January 2016
Second Court Hearing Early        February 2016
Implementation Date           Mid February 2016

iProperty Group Ltd
T: +60-3-2264-6888
F: +60-3-2264-6999
WWW: www.iproperty-group.com

↧

Altura Mining Limited (ASX:AJM) Pilgangoora Lithium Update - Testwork Results

November 1, 2015, 2:21 pm

≫ Next: 99 Wuxian Ltd (ASX:NNW) September 2015 Quarterly Trading Update

≪ Previous: Proposed Merger Between iProperty Group Ltd (ASX:IPP) and REA Group (ASX:REA)

James Brown
Managing Director
T: +61 8 9488 5100

Chris Evans
General Manager Operations
T: +61 419 853 904

Altura Mining Limited
T: +61 8 9488 5100
F: +61 8 9488 5199
E: info@alturamining.com
WWW: www.alturamining.com

↧

99 Wuxian Ltd (ASX:NNW) September 2015 Quarterly Trading Update

November 1, 2015, 2:27 pm

≫ Next: Balmoral Resources Ltd. (TSE:BAR) Confirms New Gold Bearing Fault System on Martiniere Property, Quebec

≪ Previous: Altura Mining Limited (ASX:AJM) Pilgangoora Lithium Update - Testwork Results

99 Wuxian Limited 
Mr Ross Benson 
T: +61 418 254 548 

Fowlstone Communications
Mr Geoff Fowlstone
T: +61 413 746 949

↧

Balmoral Resources Ltd. (TSE:BAR) Confirms New Gold Bearing Fault System on Martiniere Property, Quebec

November 3, 2015, 5:30 am

≫ Next: Archer Exploration Limited (ASX:AXE) Market Briefing - Graphite Projects Update and Outlook

≪ Previous: 99 Wuxian Ltd (ASX:NNW) September 2015 Quarterly Trading Update

Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSE:BAR) (OTCMKTS:BALMF) today reported results from the summer/fall 2015 drill program on the Company's wholly owned Martiniere Property in Quebec. In addition to results from infill and expansion drilling along the Bug Lake Gold Trend, the program has confirmed the discovery of a new, gold bearing, fault system - the Lac du Doigt ("Finger Lake") Fault Zone - which has the potential to extend for several kilometres across the Property.
Bug Lake Gold Trend

The Bug Lake Gold Trend is a north-south striking corridor of faulting, strong alteration and gold mineralization which can now be traced for a minimum of 1,800 metres on the Martiniere Property. The Trend is characterized by broad zones (18-175 metre wide drill intercepts) of silica-sericite-pyrite alteration and anomalous gold mineralization. Within the broader Trend a number of steeply dipping, sub-parallel high-grade zones of gold mineralization are developed.

The recently completed drill program was successful in tracing the Upper and Lower Bug Lake Zones throughout all areas tested. It also continued to confirm the presence of high-grade gold mineralization in the Hanging Wall to the Bug Lake Fault along the northern segment of the Trend. The Hanging Wall Zone in this area had not previously been tested to depth and MDE-15-200 returned three high-grade intercepts - 32.10 g/t gold over 0.81 metres, 12.40 g/t gold over 1.03 metres and 13.95 g/t gold over 0.60 metres - between 210 and 240 metres down hole depth (see Table 1 below and Figure 1 in link).

Drill holes MDE-15-194 and -195 were drilled 600 metres south of the previously known southern margin of the Bug Lake Gold Trend. Hole MDE-15-195 intersected a broad - 18.50 metre wide - interval of faulting, silica-pyrite alteration and anomalous gold mineralization which is interpreted to represent the southern continuation of the Bug Lake Gold Trend. This extends the Trend to over 1,800 metres along strike and it remains open to the south.

Lac du Doigt Fault Zone

The last exploration hole of the 2014 program at Martiniere - MDX-14-46 - was collared approximately 2.50 kilometres west of the current northern margin of the Bug Lake Gold Trend to test an east-west trending structural zone interpreted from magnetic data (see Figure 2). MDX-14-46 successfully intersected three occurrences of gold mineralization. The shallowest intercept, associated with quartz-tourmaline veining, returned 3.27 g/t gold over 3.64 metres including 25.50 g/t gold over 0.43 metres at the bedrock collar. Two other anomalous intercepts (see Table 2 below) further down the hole are associated with sericite-pyrite alteration hosted by felsic porphyry sills developed within the Lac du Doigt Fault Zone.

Hole MDX-15-48 was collared approximately 185 metres east of MDX-14-46 and also intersected three intervals of anomalous gold mineralization, an upper vein zone and two lower porphyry hosted intervals, suggesting local continuity to the gold mineralized occurrences within the Fault Zone. The Porphyry 2 occurrence shows a significant broadening to the east over the 185 metres between the two holes. The Lac du Doigt Fault is untested west of these two holes. It is also untested for a 2.30 kilometre span between the current drilling and the northern end of the Bug Lake Gold Trend where there are indications of gold mineralization within the projection of this structure. The Lac du Doigt Fault Zone thus provides an extensive new, and largely untested, gold target on the Martiniere Property.

Exploration of the Martiniere Property is expected to resume in early 2016 with a focus on continued near surface delineation of the Bug Lake and nearby gold zones, further examination and testing of the Lac du Doigt Fault Zone and exploration of other gold targets on the property.

Quality Control

Mr. Darin Wagner (P.Geo.), President and CEO of the Company, is the non-independent qualified person for the technical disclosure contained in this news release. Mr. Wagner has supervised the work programs on the Martiniere Property, visited the property on multiple occasions, examined the drill core from the holes summarized in this release, discussed and reviewed the results with senior on-site geological staff and reviewed the available analytical and quality control results.

Balmoral has implemented a quality control program for all of its drill programs, to ensure best practice in the sampling and analysis of the drill core, which includes the insertion of blind blanks, duplicates and certified standards into sample stream. NQ sized drill core is saw cut with half of the drill core sampled at intervals based on geological criteria including lithology, visual mineralization and alteration. The remaining half of the core is stored on-site at the Company's Martiniere field camp in Central Quebec. Drill core samples are transported in sealed bags to ALS Minerals' Val d'Or, Quebec analytical facilities. Gold analyses are obtained via industry standard fire assay with atomic absorption finish using 30 g aliquots. For samples returning greater than 5.00 g/t gold follow-up fire assay analysis with a gravimetric finish is completed. The Company has also requested that any samples returning greater than 10.00 g/t gold undergo screen metallic fire assay. Following receipt of assays, visual analysis of mineralized intercepts is conducted and additional analysis may be requested. ALS Minerals is ISO 9001:2008 certified and the Val d'Or facilities are ISO 17025 certified for gold analysis.

To view tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/81422-TSE-BAR-20151103.pdf

John Foulkes
Vice-President
Corporate Development
Tel: (604) 638-5815 / Toll Free: (877) 838-3664
E-mail: jfoulkes@balmoralresources.com

↧

Archer Exploration Limited (ASX:AXE) Market Briefing - Graphite Projects Update and Outlook

November 3, 2015, 2:29 pm

≫ Next: Argent Minerals Limited (ASX:ARD) $269,000 Funds Received from Research and Development Claim

≪ Previous: Balmoral Resources Ltd. (TSE:BAR) Confirms New Gold Bearing Fault System on Martiniere Property, Quebec

In this Market Briefing interview, Greg English, Archer Exploration Limited's (ASX:AXE) Executive Chairman, discusses the Company's strategic direction and current project developments, including:

- The path to commercialisation of the Eyre Peninsula graphite projects

- Progress on the Campoona battery grade graphite project

o Mining lease proposal

o Marketing for off-take and potential partners

o Further battery testing underway

- Update on the Sugarloaf deposit and potential fertiliser project

o Progress on research with Adelaide University

- Longer term prospects of the Waddikee large flake project

- Current status of the Leigh Creek Magnesite Project

- Outlook for next 6 months and key steps

Interviewer:

Greg, Archer Exploration owns Australia's largest JORC 2012 graphite resource and has been actively pursuing the development of these resources. How do you see these resources being commercialised?

Greg English

Our South Australian, Eyre Peninsula tenements currently have the largest graphite JORC 2012 resource recorded in Australia, with significant further potential across our tenements to increase the size of these resources. The nature of our deposits provide us with a wide spread of flake sizes, and various forms of graphite that give rise to a variety of potential end markets and users.

We have identified two immediate potential projects, with the prospects of a third project as we progress.

Our initial graphite Project at Campoona Shaft is the basis of our battery grade graphite project. Campoona Shaft graphite has been recently tested and shown to match or perform better than commercially available 'synthetic graphite' in battery performance. It is important to note that not all naturally occurring graphite deposits are suitable for battery anodes. Our deposit has physical properties that allow it to be used for battery anode production, in addition to use in high quality lubricants.

Our work has identified two further deposits in the immediate vicinity (Central Campoona and Lacroma) that have essentially the same graphite as at Campoona Shaft that can be processed using the same equipment to produce the same high grade graphite.

The Campoona Shaft Project is progressing with the final mining lease proposal expected to be lodged in the coming weeks, and we are now awaiting final government approvals process to be completed over the next six months.

The second immediate prospect of a commercial project exists with our Sugarloaf deposit. This deposit is additional to our current JORC resources and is a massive outcropping deposit with an exploration target of 40 to 70 million tonnes of graphite at 10 to 12 percent carbon. Whilst we initially were undertaking research at the University of Adelaide to explore the potential for graphene production from this deposit, which we showed was easily achieved; the recent research has focussed on the agricultural potential for this material. Sugarloaf consists of an amorphous carbon which naturally has elevated amounts of macro and micro nutrients essential for plant growth. Whilst a lot more work needs to be done, the initial findings from the University suggest that this material significantly assists plant growth. If further research confirms this outcome, it could mean this massive deposit has ready applications as a soil conditioner.

Our third potential project exists in our acquired Waddikee tenements, which contain large flake graphite. These deposits include our largest JORC resources and provide us with the 'mass market' opportunities for large flake graphite. We will pursue this longer term opportunity once we have fully examined the potential of our battery and fertiliser project opportunities.

Interviewer:

If we consider each of the projects in turn, can you outline what activities are currently being undertaken to pursue the development of the high grade graphite project?

Greg English

As I mentioned we have undertaken a lot of work to pull together our Campoona Shaft Mining Lease proposal, and this is about to be submitted in its final version. This process involved conducting numerous studies into the technical, environmental and social aspects of the project and included widespread consultation with local farmers and government and authorities. This project will have access to power, water and infrastructure and is accessible by sealed road.

We will now await the formal approval of this application, and that means we enter a period of lower expenditures until the mining lease is granted, which could be a six-month period.

We are using this time to seek project partners or off take partners to assist with the development of this project and the construction of the processing facility. At this stage this work is in its preliminary stages, and we have appointed parties to assist us with this process in the major global markets.

We also intend to undertake the next phase of battery testing. Whilst our initial tests showed equal or superior results were achieved with our graphite, our graphite is naturally occurring and this resulted in various flake sizes being used in the initial test work. We now want to test the hypothesis that if we have a more uniform particle size it will further enhance our performance. We now have more uniform sample sizes produced and these will be tested by the CSIRO to see if this further improves our performance relative to the synthetic grade graphite.

Interviewer:

If the Campoona graphite is as good as synthetic graphite why haven't you found an off-take partner for this project?

Greg English

Spherical graphite which is made from natural flake graphite, has traditionally been used in the bulk of battery anodes. However, around 30% of lithium-ion batteries use synthetic graphite. Our graphite has been shown to be equal to synthetic graphite. Potential buyers of our graphite need to test our graphite in their applications to make sure the graphite meets their technical specifications.

Our initial battery tests were very encouraging. Since releasing the initial test results we received a number of requests from companies seeking to test our graphite concentrates. Whilst some companies are still testing our material others have given positive responses seeking various levels of supply subject to agreeing prices.

The next round of battery testing using more uniformly sized micronized graphite is important because if we can further improve our performance, our graphite will provide a battery producer with a higher quality battery, with cheaper input costs. We think this should be a compelling case for the right partner to take an interest. Especially as there is an increasing demand for Lithium ion batteries with home power storage batteries increasing in popularity, and an expected increase in electric cars to provide additional growth prospects to the current increasing demand profile for Lithium ion batteries.

However, our graphite can also be used for high quality lubricants and other purposes, so we are not just reliant on the battery market. We are stepping up our efforts to find a partner, and our further testing should assist us in this process.

Interviewer:

What would the financial aspects of this project involve based on your Mining Lease proposal?

Greg English

We are aiming to be a boutique producer of high grade graphite. We would look to construct a production facility on our wholly owned land near the Sugarloaf deposit, which provides a central facility close to all of our graphite projects, to potentially allow for the convenient processing of all our graphite over the longer term.

Our current Mining Lease proposal is simply in respect of our Campoona Shaft deposit, which would provide a 14-year mine life on its own. Our recent confirmation that Central Campoona and Lacroma contain similar graphite to Campoona Shaft would allow us to potentially expand production, or extend mine life, or both.

Our initial financial analysis has been based solely on the Campoona Shaft deposit, and it suggests an internal rate of return of around 25 - 30% can be achieved based on a capital requirement of $36 million to move into production. This cap-ex would allow us to produce high grade graphite of 92-97% purity from the initial processing, and an acid wash improving the grade to greater than 99% purity and suitable for battery anode use.
Of course, a final feasibility study will allow us to confirm the financial modelling with greater accuracy, although as we are using components in our facility that are effectively 'off the shelf' we would not anticipate any significant levels of cap-ex required beyond our initial estimates.

Interviewer:

What activities are taking place at the Sugarloaf project?

Greg English

The research collaboration with the University of Adelaide has advanced to the point of proof-of-concept for the potential application of Sugarloaf carbon as a soil conditioner and slow release fertilizer. We use the term carbon because it consists of fine, porous carbon as opposed to highly crystalline graphite.

The research work to date has shown that Sugarloaf carbon has several unique characteristics that combine to underscore its potential as a soil conditioner. Firstly, Sugarloaf carbon naturally has 11 of the 13 critical macro and micro nutrients essential for plant growth. The research showed that these macro and micro nutrients are present in both highly soluble and more slowly soluble forms providing plants with sustained nutrient availability.

Secondly, raw run-of-mine Sugarloaf carbon when added to soil improves the soil's ability to retain moisture.

Thirdly, initial plant trials using wheat showed that adding Sugarloaf carbon improved root development and promoted thicker, stronger plant stems.

The results have been very encouraging and we are now planning the next broader phase of testing.

We haven't incurred any significant project development expenses to date, and do not expect to occur additional major expenditure in the near term.

Sugarloaf has an enormous resource potential certainly of many tens of millions of tonnes. If Sugarloaf becomes a commercial project it should be a relatively straight forward process to dig this deposit and apply low cost processing. At this stage it doesn't appear that Sugarloaf will require any form of mineral processing, the concept is to simply dig, crush, screen and bag. We think that the suitable partner to pursue this project would be a local fertiliser manufacturer, and we have yet to actively seek partners pending research outcomes from Adelaide University.

Interviewer:

Are you undertaking any activities with respect to the Waddikee tenements?

Greg English

As I mentioned, these are actually our largest component of JORC resource, and contain our large flake graphite. We did some further drilling on these tenements early in the year and it was sufficient for us to have confidence that we have considerable scope to expand these resources significantly, particularly through our step out drilling at Wilclo South, which still only covers a couple of kilometres of an 11 kilometre strike, as indicated by our electromagnetic surveying.

We already have Australia's largest JORC 2012 resource that can support a long life operation, so have no immediate need to keep drilling at Waddikee. At this stage, we are not doing further work on these tenements, but they will prove to be a valuable additional product when we have established our Sugarloaf graphite processing facility.

The market for large flake graphite is very broad, but this segment has been under some pressure with the large flake deposits being identified in Mozambique.

We believe that these graphite resources will provide us with another attractive graphite project over time, with the demand for large flake also set to increase over time and end users wanting supply from a range of producers, and not being dependent on a single provider or with too great an exposure to unstable political regions.

Interviewer:

You have previously flagged the Leigh Creek Magnesite deposit as an asset where you are seeking to crystallise value. What is happening with this asset?

Greg English

At Leigh Creek we own the world's largest cryptocrystalline (small crystal) magnesite deposit. We have almost half the World's known resource of this type, which is a higher purity form of magnesite.

Our proposed project is to produce magnesia, which is magnesium oxide. It has a huge variety of applications and can be readily produced through heating the magnesite to high temperatures. The magnesite deposit is vast with the potential to support a mine life in excess of 100 years.

We have received some interest for this asset, with some indicative offers on the table, but these are too preliminary to provide any further details at this stage.

Additional recent developments have made this asset potentially more attractive;

We have just signed a Heads of Agreement with Leigh Creek Energy that would secure the supply of low cost gas for this project. Also the imminent closure of Alinta's Leigh Creek Coal project provides significant scope to utilise the existing infrastructure. There is increasing prospects that would support having a production capability at Leigh Creek which would enhance the project economics significantly.

This project is moving in a very interesting direction, and we are actively involving ourselves with on-going discussions.

Interviewer:

What is the financial position for Archer, do you have to raise capital?

Greg English

We recently received our 2015 R&D refund from the ATO and currently have $1.5m cash in the bank. Our operating expenses have now come down to low levels, so we could run with that balance for 8 to 12 months if required. However, as some of our projects develop further, we will be keen to pursue these and that will give us the opportunity to create significant shareholder value. When these opportunities arise we will look at our various funding alternatives to provide the best outcomes for shareholders.

In the interim, if we were to raise any capital, it would be a low level sufficient to pursue some of the additional project opportunities in our portfolio with a view to testing their prospectivity in commodities such as copper and gold. This opportunity arises as we wait to progress the Campoona and Leigh Creek projects.

Interviewer:

What is the outlook for Archer Exploration over the next few months?

Greg English

We will continue to pursue our Campoona project with further CSIRO testing of our graphite and comparing it to commercially available lithium-ion battery quality graphite. We will also continue the search for off-take and potential project partners, as we await the final Mining Lease approval.

We will also undertake further research with Adelaide University in respect of the suitability of the Sugarloaf deposit for use as a 'slow release fertiliser and soil enhancer'.

At Leigh Creek we will continue to monitor events, whilst still being open to offers that may emerge for developing that asset.

In addition, we will take the opportunity to thoroughly assess the balance of our tenement portfolio and prioritise our opportunities in our mainstream commodities such as copper and gold.

While we are working towards developing our graphite assets and see great potential to be able to do something with our magnesite deposit, we are still at our heart an exploration company. The cost of maintaining our various tenements is minimal and we see value in continuing to progress these assets to the point where shareholder wealth can be realised.

We believe it will be an exciting six months ahead of us as our projects move forward, and opportunities are crystallised.

Thank you, Greg.

Archer Exploration Limited
T: +61-8-8272-3288
F: +61-8-8272-3888
E: info@archerexploration.com.au
WWW: www.archerexploration.com.au

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