Quantcast
Channel: ABN Newswire
Viewing all 12704 articles
Browse latest View live

Ardiden Ltd (ASX:ADV) Thick High-Grade Lithium Intercepts Continue at North Aubry

January 29, 2018, 6:34 pm
$
0
0
Ardiden Limited (ASX:ADV) is pleased to advise that recent diamond drilling has confirmed further high-grade extensions of the spodumene mineralisation down-plunge to the north of the recently announced Phase 1 Mineral Resource at the North Aubry Lithium Deposit, part of its 100%-owned Seymour Lake Lithium Project in Ontario, Canada.

HIGHLIGHTS:

- Strong assay results received from the last 7 diamond drill holes completed in the 2017 resource expansion drilling program, adding expansion potential to the Phase 1 Mineral Resource Estimate for the North Aubry Lithium Deposit at its 100%-owned Seymour Lake Lithium Project in Ontario, Canada.

- Results have again confirmed consistency and continuity of mineralisation extending to the north and the east of the current Mineral Resource boundary, with significant thick mineralised intercepts including:

o 27.62m at 0.99% Li2O from 135.22m down hole (SL-17-71) including:

-- 10.00m at 1.52% Li2O;
-- 5.00m at 1.72% Li2O; and
-- 2.0m at 2.14% Li2O;

o 21.50m at 1.02% Li2O from 47.80m down-hole (SL-17-77) including:

-- 6.00m at 2.59% Li2O;
-- 3.00m at 3.52% Li2O; and
-- 2.94m at 1.31% Li2O

o 16.45 at 0.95% Li2O from 70.30m down-hole (SL-17-75) including:

-- 8.00m at 1.04% Li2O;
-- 3.00m at 1.60% Li2O;
-- 3.00m at 1.47% Li2O; and
-- 1.00m at 2.27% Li2O.

- Drilling results confirm the presence of multiple pegmatite zones extending north-eastwards with down-plunge continuity at the North Aubry Lithium Deposit - with the mineralisation remaining open to the north, east, west and down-dip.

- These latest drilling results continue to provide Ardiden with a greater level of confidence in the continuity of the mineralisation, while also steadily increasing the overall scale of the project.

- Latest results support the Company's objective of exercising the Yantai Term Sheet and progressing its fast-track development strategy at Seymour Lake.

- Full geological and technical review of the latest drilling results is almost complete and planning for the commencement of the 2018 expansion drill program is well underway, with the drill program due to be finalised and commencing shortly.

The latest assay results include an impressive high-grade intercept grading 4.03% lithium oxide (Li2O) (SL-17-70), as well as numerous strong assays which continue to support the potential future expansion of the North Aubry Lithium Deposit, confirming the presence of multiple pegmatite zones extending to the north-east and east.

SUMMARY

Ardiden confirms that the last 7 drill holes from the 2017 resource expansion drill program includes the latest assay results from diamond drill holes SL-17-70 - SL-17-72 and SL-17-74 - SL-17-77 (refer Tables 1 and 2 in link below). These latest drilling results were not including in the JORC Resource estimate announced on 4 October 2017 and have continued to demonstrate extensions and solid continuity of the thick high-grade lithium mineralisation expanding northeast and east from the North Aubry Lithium deposit.

Ardiden notes mineralisation remains open in all directions from the North Aubry Lithium deposit and further drilling which is due to commence shortly will allow the company to determine the grade and continuity of mineralisation in the identified pegmatite units.

Further, exploration drilling will commence shortly focusing on the North, Central and South Aubry prospects with the aim of drill testing how each of these pegmatite structures relate to each other which will then lead to better understanding of the overall pegmatite swarm at this location and further expansion potential.

Shown in Figure 1 (see link below), from a logistical perspective the North, Central and South Aubry prospects are well located on the western crest and side of the hills, providing good access from the nearby Ferland Road and potential access to the local infrastructure network at the Ferland Train Station only a short distance to the south.

The pegmatites at North Aubry host mineralisation which has been identified as having a downhole width in excess of 27m and 21m respectively, in drill holes SL-17-71 and SL-17-77. Both drill holes were drilled at a 60-degree dip, which is an approximate angle to show the normal mineralised unit.

Ardiden considers these latest assay results from diamond drill holes SL-17-70 - SL-17-72 and SL-17-74 - SL-17-77, once again to be very encouraging and another step closer for the potential development of the Seymour Lake Lithium project with strategic partner Yantai Jinyuan Mining Machinery Co.,Ltd.

ASSAY RESULTS

The Company has now received assay results from diamond drill holes SL-17-70 - SL-17-72 and SL-17-74 - SL-17-77 (refer Tables 1 and 2 in link below), these drilling results were not included in the Maiden JORC Resource Estimate.

Lithium grades up to 4.03 Li2O (SL-17-70) and 3.83% Li2O (SL-17-77) are reported in the latest batch of assay results, demonstrating a consistency of the high-grade lithium mineralisation at North Aubry.

Assay results for the 7 diamond drill holes are reported in this announcement, including SL-17-70 - SL-17-72 and SL-17-74 - SL-17-77, and any assays below a cut-off grade of 0.5% Li2O and have not been specifically reported in this announcement.

Ardiden notes, 47% of this batch of assays drill holes (58 of the 123 drill core samples) returned results greater than the 0.5% Li2O cut-off with an average grade of 1.59% Li2O, while 32% (39 of 123 drill core samples) returned results greater than 1.0% Li2O with an average grade 1.99% Li2O. 22% (27 of 123 drill core samples) returned results greater than 1.5% Li2O with an average grade of 2.33% Li2O. (refer to Table 1 in link below).

Table 1 (see link below) presents the significant intersections which contain lithium mineralisation in drill holes SL-17-70 - SL-17-72 and SL-17-74 - SL-17-77, that reported above the cut-off grade of 0.5% Li2O and the weighted average grade for each significant intersection, where the Li20% grades have been calculated using the Li2O assays as a function of the represented sample length (length X grade/length).

A summary of the more significant assays for holes SL-17-70 - SL-17-72 and SL-17-74 - SL-17-77, is provided below (refer to Tables 1 and 2 in link below for a full list):

- 27.62m at 0.99% Li2O from 135.22m down hole (SL-17-71) including:

o 10.00m at 1.52% Li2O;
o 5.00m at 1.72% Li2O; and
o 2.0m at 2.14% Li2O;

- 21.50m at 1.02% Li2O from 47.80m down-hole (SL-17-77) including:

o 6.00m at 2.59% Li2O;
o 3.00m at 3.52% Li2O; and
o 2.94m at 1.31% Li2O

- 16.45 at 0.95% Li2O from 70.30m down-hole (SL-17-75) including:

o 8.00m at 1.04% Li2O;
o 3.00m at 1.60% Li2O;
o 3.00m at 1.47% Li2O; and
o 1.00m at 2.27% Li2O.

- 11.85m at 1.44% Li2O from 55.70m down-hole (SL-17-76) including:

o 10.60m at 1.69% Li2O; and
o 2.30m at 3.24% Li2O.

MULTIPLE THICK ZONES OF HIGH-GRADE LITHIUM MINERALISATION

The continuity of mineralisation at North Aubry is suitably highlighted by drill-hole SL-17-71, which intersected 27.62 continuous metres of spodumene mineralisation from 135m down-hole with an average lithium grade of 0.99% Li2O. Furthermore, drill-hole SL-17-77 intersected 21.50 continuous metres of spodumene mineralisation from 48m down-hole with an average grade of 1.02% Li2O (refer to Table 2 in link below).

Also of note was drill hole SL-17-75, which intersected 16.45 continuous metres of spodumene mineralisation from 70m down-hole with an average of 0.95% Li2O. Drill hole SL-17-76 intersected 11.85 continuous metres of spodumene mineralisation from 56m down-hole with an average grade of 1.44% Li2O (refer to Table 2 in link below).

These latest assay results have again confirmed the presence of multiple thick, sub-parallel mineralised zones extending down-plunge to the north-east and east supporting the potential expansion of the North Aubry Lithium deposit (see Figures 3 and 4 in link below).

The assay results continue to validate the geological modelling of multiple stacked and parallel pegmatite sills and the northern extension of the known primary mineralised sills.

To date, the current drilling program has focused on the North Aubry prospect due to the ease of access and high-quality lithium mineralisation at the prospect, and future drilling programs will continue to target the immediate project area to include Central and South Aubry prospects.

Ardiden notes that mineralisation remains open in all directions at North Aubry. Further drilling is required to obtain a better understanding of the size and extent and potential connection of the underlying pegmatite structures.

2018 EXPANSION DRILL PROGRAM

Ardiden confirms that a full geological and technical review of the Seymour Lake Lithium project is almost complete. The review which has incorporated the latest drilling results has provided Ardiden with a greater understanding of the complex pegmatite structures contained within the project and identified a number of new priority drilling targets around the Aubry prospects.

Planning for the 2018 expansion drill program is well underway and Ardiden expects to finalise the drill targets and commence the new drill program due shortly.

EXPLORATION UPSIDE

Only about 5% of the regional 5km strike length of modelled pegmatites have been drill-tested, and the true potential of the project is yet to be fully evaluated. Approximately 40 new pegmatite exposures have been identified, with several of these exposures hosting visible spodumene.

Figure 6 (see link below), demonstrates the significant potential of the Seymour Lake Project with the red crosses on the images identifying numerous pegmatite exposures that have not yet been fully explored or tested. The area highlighted green contains the North Aubry Lithium Deposit and the Central and South Aubry prospects which have a high potential for substantial lithium mineralisation. The remainder of the 5km strike zone highlighted in blue remains open and untested.

Ardiden notes that although the pegmatites at Seymour Lake can be somewhat difficult to model and predict due to the variable fluid pathways during formation, confirmation of the interpreted extensions of the spodumene-bearing pegmatites and the verification of multiple pegmatite sills in the latest assay results provides the Company with a greater level of understanding and confidence in the project, while also steadily expanding the overall scale of the project and its future resource expansion potential.

CONCLUSION AND OUTLOOK

The latest drilling results, which include multiple high-grade intercepts of up to 4% Li2O at various depths, have further increased the Company's confidence in the scale and continuity of the lithium mineralisation at the North Aubry Lithium Deposit.

The Company believes that the Seymour Lake Project has the potential to host multiple high-quality lithium deposits, with the completion of a Phase 1 JORC 2012 Mineral Resource Estimate at North Aubry establishing a solid foundation from which the Company can aggressively target extensions of the known mineralised zones, the potential to identify further pegmatite structures and with, the assistance of our strategic partners Yantai, advance the project towards development.

Ardiden expects to commence the 2018 expansion drill program shortly and to provide further updates in the near future on current activities, including results from the ongoing metallurgical test work program in China, further drilling updates from North and South Aubry prospects and feasibility work including the Baseline Environmental Study activities being conducted at the Seymour Lake Project.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/7JOUP89M 

Investors:
Brad Boyle
Ardiden Ltd 
Tel: +61-8-6555-2950 

Media:
Citadel-Magnus
Tel: +61-8-6160-4900
↧
Search
↧

Lithium Power International Ltd (ASX:LPI) Research Report by Hallgarten & Company

January 29, 2018, 6:39 pm
$
0
0
Chilean Lithium prospects have been relatively overshadowed in recent years by the rising Argentine Lithium scene. This has been because the Chilean scene was perceived to be locked up between the majors of the now moribund "cartel" and because there were a plethora of undeveloped salares on the Argentine side of the Andes. However in a case of quality over quantity the Chilean side had relatively few available areas to stake but has more ideal climatic conditions and better access and infrastructure. It was this aspect that prompted Lithium Power International (ASX:LPI) (OTCMKTS:LTHHF) (LPI) to farm out its Argentine assets and focus its attentions on the Salar de Maricunga JV.

The salar that Lithium Power International intends to exploit lies at over 3,750 metres above sea level near to the Argentine border in the high Atacama desert, one of the driest places on the planet, with attendant advantages for evaporation rates, while enjoying the heightened confidence that investors have in the Chilean mining regime. The recent Chilean presidential elections also resulted in a swing towards a more business-friendly regime with a President with past connections to the mining sector having been elected.

The project had been long mired in the financial misfortunes of a TSX-listed entity called Li3 Energy which had lacked the funds to advance the project beyond some initial exploration that petered out several years ago. Meanwhile exploration of the rest of the salar was non-existent as it was held by the long disinterested majors, CODELCO and SQM. This has changed in recent times with CODELCO (the massive state-owned copper miner) having decided to energise interest in its holdings on the salar by putting them out to public tender.

LPI signed its JV earn-in agreements relatively recently (in the second half of 2016) and has since been in a frenzy of upgrading data and "mine"-planning that has taken it in just over year to the point where a production decision is within sight and the project is in a state that potential offtakers can have confidence that Maricunga is one of the real projects in a universe of over-promoted projects that have little prospect of coming to fruition.

In this review we shall go over the specifics of the project and the dynamics of Chile without reiterating the obvious on the current evolution of the Lithium demand space.

To view the full research report, please visit:
http://abnnewswire.net/lnk/01D1RWT0 

Martin C Holland - CEO
Lithium Power International
E: info@lithiumpowerinternational.com
T: +61-2-9276-1245
www.lithiumpowerinternational.com
Twitter: @LithiumPowerLPI
↧

Impact Minerals Limited (ASX:IPT) Quarterly Report December 2017

January 29, 2018, 8:03 pm
$
0
0
Impact Minerals Limited (ASX:IPT) provides the Company's Quarterly Report for the period ending 31 December, 2017.

1. COMMONWEALTH GOLD-SILVER-BASE METAL PROJECT, N.S.W. (IPT 100%)

- Drill hole CMIPT072 has intersected disseminated pyrite with silver-bearing veins in places 350 metres down dip from previous mineralisation within the Silica Hill rhyolite.

- Similar style of mineralisation to that seen close to high grade vein systems closer to surface and is encouraging for the presence of mineralisation over 500 metres down dip.

- Signficant intercepts of anomalous gold and silver received from five drill holes now interpreted to be part of the outer lower grade parts of the sytem at Silica Hill.

- Assays expected in early February for four drill holes containing visible silver minerals.

2. PILBARA GOLD PROJECT

- More than 90 kilometers of prospective Fortescue Group conglomerates identified on Impact's licence applications which cover 1,300 sq km in the East Pilbara region.

- Rock chip results of up to 11.2 g/t gold occur at the Glen Herring Prospect 10 km west of Marble Bar in a gold-pyrite conglomerate that extends for 25 kilometres.

- A single diamond hole at Shady Camp Well returned 0.9 metres at 0.6 g/t gold that has not been followed up.

- Other gold-bearing conglomerates identified on or adjacent to Impact's licences.

- The conglomerates are similar to those that occur in the Witwatersrand Basin of South Africa where the majority of the gold-bearing reefs are only 1 to 2 metres wide and easily missed.

- Impact is conducting on-ground reconnaissance exploration to ascertain access conditions and to determine the best sampling approach for gold both in nugget form as well as finely disseminated gold, both of which occur in the East Pilbara.

3. CORPORATE

- Mr Eamon Hannon appointed as a Non-Executive Director.

- $3.36 million raised via oversubscribed Placements.

- Major shareholder increases stake in Impact to 12%.

To view the full report, please visit:
http://abnnewswire.net/lnk/OX167Q7K 

Dr Michael G Jones
Managing Director
Impact Minerals Limited
T: +61-8-6454-6666
E: info@impactminerals.com.au
↧

Ardiden Ltd (ASX:ADV) 2018 Exploration Drilling Set to Commence at Seymour Lake

January 29, 2018, 8:36 pm
$
0
0
Diversified minerals explorer and developer Ardiden Limited (ASX:ADV) is pleased to advise that its 2018 exploration drilling program is set to commence within 2 weeks, at its 100%-owned Seymour Lake Lithium Project in Ontario, Canada.

HIGHLIGHTS:

- Detailed analysis and interpretation of geological model and the latest drilling results completed.

- Exploration drill program finalised, with numerous high priority drill targets defined at Central and South Aubry prospects.

- Geological team mobilising to prepare site and drill rig to mobilise shortly thereafter.

- 2018 exploration drilling program expected to commence within 2 weeks.

- Drilling program designed to test extensions of key lithium mineralisation zones, identified at both Central and South Aubry prospects.

Ardiden's geological team has now completed a thorough review, analysis and interpretation of current geological model, incorporating all of the 2017 drilling results. This has been combined with updated regional geological and topographic data, with the review defining numerous high priority drilling targets, with phase 1 focusing on the mineralisation extensions at and around the Central and South Aubry prospects.

Subsequently, based on these new priority drill targets, planning for phase 1 of the 2018 exploration drill program has now been finalised. Ardiden's geological team are about to mobilise to the project in order to prepare the drill sites at Seymour Lake.

This program has been designed to drill test and evaluate the numerous potential extensions of the pegmatite structures that bear the high quality spodumene mineralisation. The aim of the program is to define substantially more lithium mineralisation to complement the current lithium resource already defined at the North Aubry prospect. With the assistance of our strategic Chinese partners Yantai, Ardiden seeks to fast track the development of the Seymour Lake Lithium Project into commercial production.

Ardiden expects the drill rig to mobilise from Thunder Bay next week and to commence the phase 1 of the exploration drilling program at the Central and South Aubry prospects within 2 weeks.

The expansion of any resources will be completed in accordance with JORC (2012) guidelines and is likely to be completed in a number of stages. Once the drill targets at and around Central and South prospects have been drill tested and fully evaluated, the drill program will begin to progressively drill test the numerous other pegmatite exposures contained within the defined 5km strike zone.

Ardiden looks forward to providing further updates as they come to hand.

To view figures, please visit:
http://abnnewswire.net/lnk/817GHOZ7 

Investors:
Brad Boyle
Ardiden Ltd 
Tel: +61-8-6555-2950 

Media:
Citadel-Magnus
Tel: +61-8-6160-4900
↧

Fluence Corporation Ltd (ASX:FLC) Announces Strong Revenue Outlook Following Successful Fourth Quarter Operational Performance

January 29, 2018, 10:43 pm
$
0
0
Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF) is pleased to provide the following quarterly business update to the market alongside its Appendix 4C: Quarterly cashflow report for the three months ended 31 December 2017 (Q4 2017).

- Year-end 2017 contract revenue backlog of US$95 million

- Expect to nearly double revenue in 2018

- Successful merger puts in place a strong global foundation to accelerate growth

Key Q4 2017 highlights: Backlog of US$95 million to underpin accelerated growth in 2018

- Growth to accelerate

o Contract revenue backlog of US$95 million at 31 December 2017, of which US$75 million anticipated to convert into revenue in 2018

o Revenue expected to nearly double to between US$105 million to US$115 million in 2018

o Gross profit anticipated to be between US$22 million to US$25 million in 2018

- Innovation driving new market opportunities with first contract awarded for the SUBRE product

- Rapid expansion in South America with US$6 million of new contracts awarded in Ecuador and Argentina; and restart of contract in Venezuela worth US$18 million in 2018

- Building pipeline of new opportunities in Africa, including US$4.1 million tender win for Smart Packaged NIROBOX(TM) desalination systems

- Positioned for growth in the US with a demonstration/reference site for MABR successfully commissioned and operational at Stanford University

- Strong momentum building in China with several opportunities in advanced stages of negotiation that are anticipated to be finalized after Chinese New Year and into Q2 2018

- Awarded the "2018 Global Decentralized Water & Wastewater Treatment Company of the Year" by Frost and Sullivan.

Preview of 2017 results (full year pro forma Emefcy / RWL Water combined)

- Full year revenue expected to be around US$58 million due to project delays as noted in our interim update of December 19, 2017. The delayed projects are anticipated to result in revenue during 2018.

- Pro forma gross margin to increase from 19% in 2016 to be in the range between 24% to 26%. Preliminary financial results for the year ended 31 December 2017 are expected to be released no later than 28 February 2018, with full audited financial results released by 31 March 2018.

Henry Charrabé, Managing Director and CEO of Fluence commented:

"2017 was a transformational year, and we are excited by the growth opportunities we see for an innovative company like Fluence in the underserved decentralized water and wastewater treatment markets globally. Having successfully completed all merger-related integration activities in just six months, Fluence is now recognized as the leading decentralized water and wastewater treatment company globally by Frost & Sullivan.

Over the fourth quarter of 2017, Fluence was awarded several new contracts across the globe and this has grown the Company's backlog of contracted revenue to US$95 million at the end of 2017. This important lead indicator is expected to underpin significant growth in revenue this year, and move the company closer to positive EBITDA, which we continue to target to occur during 2019.

Gross profit should increase substantially this year. We are streamlining our operations, focusing individual teams on specific geographic or industry-specific sales opportunities, and rolling out new disruptive wastewater related technologies like SUBRE, a submerged version of our flagship MABR product, as well as our award winning Smart Packaged water treatment system NIROBOX(TM).

Fluence is poised for accelerated growth this year as we build and execute on the foundations that have been put in place to deliver sustainable growth in the years ahead, while also benefiting the environment in which we all live."

Backlog to underpin substantial growth in revenue in 2018

Fluence's contract order book - "backlog" - stood at US$95 million at the end of 2017. This is a key lead indicator that underpins future growth. The current backlog includes revenues from delayed projects originally anticipated to close in 2017, including the San Quintin project in Baja California, Mexico; and a project with PDVSA Agricola in Venezuela.

The Company is aware of reports that a complaint about state legislative processes has been made to the Supreme Court of Mexico that may delay the commencement of the San Quintin project in Baja California, Mexico. The practical impact, if any, that this resolution may have is not yet known. We note, however, that Baja California is in a continuing drought and reliable water supply solutions is still urgently needed.

While the Company anticipates financial close for San Quintin to occur in Q1 and first project disbursements in Q2, any delays beyond the Company's control may have the effect of pushing these milestones out to a later date. The 2018 revenue and gross profit forecasts include a contingency factor in case of any delay in the commencement of the project. As previously disclosed, the projected margins on the project during the construction phase are small. We will continue to keep the market informed of any material developments.

The company has also already received payment from PDVSA - the PDVSA component of backlog relates to the timing of work and resulting revenue recognition.

Based on the Company's current backlog and pipeline of new tenders, the Board expects revenue for 2018 to be in the range between US$105 million to US$115 million. Visibility of forecasted 2018 revenues is high, with almost 70% (US$75 million) covered by the current backlog expected to be recognized in 2018.

Reflecting the changing mix of contracts in 2018, Gross Profit is anticipated to be in the range between US$22 million to US$25 million. This also reflects the lower gross profit margin during the construction phase of the San Quintin project.

Based on current backlog and pipeline, and consistent with historic experience, the Company anticipates bookings and revenue to be much more weighted to the latter part of the year. We continue to target a positive EBITDA to occur during 2019.

Executing on global opportunities post-merger

The 2017 merger of Emefcy and RWL Water has enabled Fluence to expand the global reach and market opportunities for its key products: desalination, wastewater treatment, and wastewater-toenergy. Below are updates on progress in key regions over Q4 2017.

Innovation driving new market opportunities - SUBRE

In October 2017, Fluence was awarded its first contract to upgrade a centralised wastewater treatment plant in Israel using its new SUBRE product. SUBRE is a submerged version of the Company's flagship Membrane Aerated Biofilm Reactor (MABR) technology and enables compliance with tighter nitrogen discharge rules without using hazardous chemicals, while also increasing plant capacity.

This contract will lead the commercial roll out of SUBRE globally. As regulations in many countries regarding total nitrogen content in treated effluent are becoming stricter, based on industry information from various sources the Company estimates the SUBRE market opportunity in Europe alone may be US$2 billion, with even larger market potential in the USA and China. Discussions are progressing with some partners regarding SUBRE deployments in China.

Rapid expansion in South America

Several notable contracts were awarded in Q4 2017 with a total value of US$6 million, including:

- Ecuador: A second water treatment plant for Eurofish SA, a leader in the processing and exportation of tuna, sardine and mackerel.

- Argentina: Supply (with Coarco) of aeration equipment to upgrade and rehabilitate two wastewater treatment plants owned by AySA, a municipal utility in Argentina. Another contract was awarded for the supply of aeration and ancillary wastewater treatment equipment for the production facility of Nutreco, a Dutch producer of animal nutrition, fish feed and processed meat products.

To meet growing demand across South America, Fluence is constructing a new manufacturing facility in Argentina, that is scheduled to open in Q2 2018.

- Venezuela: State-owned PDVSA Agricola has requested the reinstatement of a wastewater treatment solution for Ethanol plants in Portuguesa. This project has the potential to generate US$18 million in revenue in 2018.

Building pipeline of opportunities in Africa

During Q4 2017, the Company was awarded a US$4.1 million tender for its Smart Packaged NIROBOX(TM) desalination systems in Africa. Several NIROBOX(TM) contracts in North Africa are under negotiation and are expected to close in Q2 2018. In addition, several tenders for the provision of desalination water treatment in South Africa have been submitted, with decisions anticipated no later than Q2 2018.

Foundation in place for growth in the US

Until now, the impediment to US sales has been the lack of a demonstration plant and reference site. This has now been resolved following the deployment of a MABR demonstration unit at the Codiga Resource Recovery Center (CR2C) at Stanford University. Fluence's MABR unit will allow CR2C faculty and research students to test for, and certify, compliance with California's strict Title 22 requirements for water reuse, as well as allow observation of the plant in operation.

Strong momentum building in China

China is a major focus given the substantial growth opportunity available in that market. The rural wastewater treatment opportunity in China is estimated in the billions of dollars over the next five years, and Fluence is now in a position of strength to capture a share of this market. The Chinese Government's 13th five-year plan targets improved water quality nationwide by 2030, and mandates that local city officials improve sewage capacity and treatment, from currently 10% of treated rural wastewater to 70% treated rural wastewater.

A distribution network, manufacturing capability, and market presence has been established. The Company's sales pipeline has grown significantly, with several opportunities in advanced stages of negotiation that are anticipated to be finalized after the upcoming Chinese New Year celebrations and into the second quarter of this year. Smaller private partners are moving quickly to capture opportunities, while larger State-Owned Enterprises are expected to deliver larger deployments over time but move a little slower.

Progress in China over Q4 2017 included the signing of a framework agreement with partner Jiangsu Jinzi Environmental Science and Technology Company. The agreement contemplates the delivery of six Containerized Smart Packaged wastewater treatment plants based on Fluence's MABR technology (C-MABR). The plants are part of a multi-million-dollar order, and are expected to be delivered, installed and become operational during 2018.

In preparation for the Jinzi and other deployments, Fluence successfully produced its first MABR module and Smart Packaged C-MABR Unit in its newly-built production facility in Changzhou, Jiangsu Province. Those important milestones demonstrated to Chinese strategic partners, Fluence's longterm commitment to supplying wastewater treatment solutions for rural regions and the Company's ability to rapidly respond to growing local demand.

Fluence recognized as the industry leader

The prestigious global consulting firm Frost & Sullivan recognized Fluence with its "2018 Global Decentralized Water and Wastewater Treatment Company of the Year" award.

Frost & Sullivan noted the key benefits of modular, decentralized systems, such as lower operating cost, easier maintenance, and lower capital outlays. In addition, Frost & Sullivan estimates that the market for decentralized systems will grow to $6 billion annually by 2023, confirming the substantial global growth opportunity for Fluence.

Q4 2017 cash flow report

The Appendix 4C quarterly cashflow report for the three months ended 31 December 2017 is attached (see link below).

Total cash usage (Net Cash Used from Operating Activities) in Q4 2017 of US$10.5 million was in line with expectations and below Q3 2017 usage. Cash usage for the quarter included a modest build of NIROBOX(TM) and C-MABR inventory and the impact of the delay in some receipts from customers due to the timing of shipments in the latter half of the quarter.

Cash and Cash Equivalents increased to US$75.2 million at the end of Q4 2017, up from US$45.1 million at the end of Q3 2017. The increase resulted mainly from a change in classification of prepaid PDVSA funds into Cash and Cash Equivalents from Short Term Investments. On a comparable basis, cash available to support working capital and future company growth was approximately US$33 million as of the end of 2017.

Quarterly update - conference call

Richard Irving (Executive Chairman) and Henry Charrabé (Managing Director & CEO) will host an investor conference call regarding the Company's quarterly update.

The conference call will be held on Wednesday 31 January 2018 at 9.00am Australia Eastern Daylight Time (Tuesday 30 January at 5:00 pm US Eastern Standard Time).
For those wishing to dial into the call, please call your respective local number below:

- Conference ID: 8687895

- Participant Dial-In Numbers:

US TOLL-FREE 1-800-239-9838
US TOLL/INTERNATIONAL 1-323-794-2551
AUSTRALIA TOLL-FREE 1 800 573 793
ISRAEL TOLL-FREE 1809 212 883

A live webcast will be accessible through the "Investors" page on Fluence's website. Questions will need to be submitted electronically through the webcast interface:

http://www.abnnewswire.net/lnk/OBPAIP31

To view the release with figures, please visit:
http://abnnewswire.net/lnk/267CC227 

Corporate: 
Henry Charrabé (USA)
Managing Director & CEO
E: hcharrabe@fluencecorp.com
P: +1-212-572-3766

Investors & media (Australia):
Ronn Bechler
Market Eye
E: ronn.bechler@marketeye.com.au
P: +61-400-009-774

Richard Irving (USA)
Executive Chairman
E: rirving@fluencecorp.com
P: +1-408-382-9790

Investors & media (USA):
Gary Dvorchak, CFA
The Blueshirt Group
E: gary@blueshirtgroup.com
P: +1-323-240-5796 (US) or +86-138-1079-1480 (China) 

Ross Kennedy (Australia)
Company Secretary & Advisor to the Board
E: rkennedy@fluencecorp.com
P: +61-409-524-442
↧
↧

DroneShield Ltd (ASX:DRO) Releases DroneGun Tactical Product

January 30, 2018, 2:21 pm
$
0
0
DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) ("DroneShield" or the "Company") is pleased to announce the release of its DroneGun Tactical(TM) product, available for purchase from today to qualified end-users, where lawful (see Note below).

The release of DroneGun Tactical(TM) continues to establish DroneShield's lead in the counterdrone space, following on the release of DroneGun MKII(TM) in late 2017.

The product was designed following comprehensive international military end-user trials, with a number of key features, including:

- No backpack - the product is entirely self contained within the rifle body, whilst maintaining light weight and long effective range (over 1km).

- Addition of 433Mhz and 915Mhz frequencies, to ensure complete effectiveness across drone models.

- Ergonomic body and controls.

- Further alignment with standard military specifications, including standardised NATO military battery power.

DroneGun Tactical(TM) is not intended to supercede DroneGun MKII(TM). Rather, it is designed for users with a different set of requirements than those using DroneGun MKII(TM). The product summary, setting out more detail in relation to this new product is enclosed.

The Company continues to conduct ongoing Research & Development across its product portfolio, and in Q4 2017 received an Australian Government R&D Tax Incentive award of approximately $200,000, as set out in the 4C for the period.

Note: DroneGun TacticalTM has not been authorized as required by the federal communications commission ("FCC"). This device is not, and may not be, offered for sale or lease, or sold or leased, in the United States, other than to the United States government and its agencies, until such authorization is obtained. The use of DroneGun TacticalTM in the United States by other persons or entities, including state or local government agencies, is prohibited by federal law. Laws limiting the availability of DroneGun TacticalTM to certain types of users may apply in other jurisdictions, and any sales will be conducted only in compliance with the applicable laws. Jammer affects only frequencies at 433Mhz, 915Mhz, 2.4Ghz, 5.8Ghz and GPS/Glonass (optionally). Emergency broadcasts, cellphone communication and other dedicated channels will not be affected.

To view Product Presentation and figures, please visit:
http://abnnewswire.net/lnk/2SC0U54R 

Oleg Vornik
CEO and Managing Director
Email: oleg.vornik@droneshield.com
Tel: +61-2-9995-7280
↧

MMJ PhytoTech Ltd (ASX:MMJ) PhytoTech Therapeutics Phase 2 Clinical Trial Update

January 30, 2018, 2:21 pm
$
0
0
MMJ PhytoTech Limited (ASX:MMJ) ("MMJ" or "the Company") is pleased to advise that it has received results from the first 10 patients who participated in the Phase 2 clinical trial undertaken by MMJ's wholly-owned, Israeli-based subsidiary PhytoTech Therapeutics Ltd ("PTL").

Highlights:

- PTL's Phase 2 open label clinical trial is aimed at measuring safety and efficacy of Satipharm CBD capsules for reducing seizure frequency in children with refractory, or treatment-resistant epilepsy.

- Satipharm CBD capsules are a proprietary oral formulation developed using the Gelpell-CBD(TM) product technology.

- Satipharm CBD capsules reduced monthly seizure frequency in the treatment-resistant children when added to current medications. The treatment was generally well tolerated, with a safety profile consistent with prior experience.

- Promising evidence of efficacy has been reported. In 6 patients a reduction of 59-91% in mean monthly seizure frequency was observed following 12 weeks of treatment.

- The median reduction was -79.5% in the 12-week treatment period compared to the 4-week observation period.

Importantly, the initial results received to date indicate that Satipharm AG's ("Satipharm") capsules significantly reduce monthly seizure frequency when added to current medications, with strong evidence of efficacy reported.

PTL's near-term focus is on recruiting the final patients required for the Phase 2 trial, in the next few weeks, with the study expected to be completed by mid-2018. The full results for the entire patient cohort would then be published shortly thereafter.

Phase 2 Clinical Trial Background

The Phase 2 trial is an open-label, single-center clinical study, designed to evaluate the safety, tolerability and efficacy of the Satipharm CBD capsules as an adjunctive treatment to 15 children with treatment-resistant epilepsy, aged 2-15 years.

The study comprised of 3 periods: observation (4 weeks), dose-titration and treatment (12 weeks), and follow-up (2 weeks). Patients were eligible to participate in the study if they had tried at least four prior anti-epileptic drugs (AEDs), including one trial of a combination of two AEDs, without successful seizure control. Daily doses were limited to 25mg/kg or 450 mg, whichever is lower.

Eight patients completed the study, while two patients were discontinued due to worsening seizures. Following 12 weeks of treatment, 6 of the 8 patients were rated as "very much improved/improved" in overall condition on the Caregiver Global Impression of Improvement scale and 7/8 patients were rated as "very much reduced/reduced" on Caregiver Global Impression of Seizures Severity scale. In these patients the mean monthly seizure frequency reduction was 59-91% after the 12-week treatment period, compared to the 4-week observation period.

One patient had a small response (12% reduction in seizures). For one patient, the critical data is missing from the later part of the diary (last 5 weeks) as it was destroyed in a fire, therefore, the daily seizure count is missing. The median reduction was -79.5% in the 12-week treatment period compared to the 4-week observation period.

Treatment with the capsules was generally safe and well tolerated. No serious adverse events were observed. A total of 20 treatment related adverse events (1.5% of total administrations) were reported, from 1.5% of administrations (20 out of total of 1329 administrations). Most adverse events were mild, a few were moderate, and all transient.

Satipharm CBD Capsules Background

Satipharm CBD capsules utilise a proprietary formulation developed using the Gelpell-CBD(TM) product technology. These capsules are produced under an exclusive contract manufacturing arrangement with Gelpell AG. The capsules contain organically derived, highly purified cannabidiol, (CBD), a non-psychoactive cannabinoid. The capsules are currently available in dosage units of 10, 50 and 100 mg CBD in Europe and Australia.

Refractory Epilepsy in Children Background

Severe childhood epilepsies are characterised by frequent seizures, neurodevelopmental delays and impaired quality of life. Approximately one third of patients with epilepsy are resistant to treatment, meaning they do not respond to drug therapy and continue to experience seizures. This can be the result of the drug therapy failing to control the seizures, or patients not being able to tolerate the related side effects. A number of currently available epilepsy drugs have been found to have significant side effects including the impairment of a patient's motor skills and cognitive abilities.

The incidence of refractory epilepsy remains high despite the influx of many new antiepileptic drugs (AEDs) over the past 10 to 15 years. It is estimated that approximately 100,000 children in North America suffer from treatment resistant epilepsy, causing uncontrollable seizures.

MMJ's Managing Director, Andreas Gedeon, commented:

"Notwithstanding the small number of patients treated to date, these results compare very favourably to other similar studies of cannabidiol, including those published by GW Pharmaceuticals.

"Importantly, these stark reductions in the number of seizures, in these very difficult to treat patients, have the potential to be a life-altering event for these patients and their families.

"The completion of this Phase 2 clinical trial, which has been earmarked for the middle of 2018, is a major step towards the commercial development of our Satipharm CBD capsules and we look forward to providing further updates on progress in due course."

MMJ wishes to caution investors that the study conducted by PTL had a limited sample size and duration. Definitive conclusions with respect to the efficacy of Satipharm CBD capsules cannot be drawn from the results described herein. Statements with regards to the application of Satipharm CBD capsules are based on this preliminary study, and any application or result of use of Satipharm CBD capsules may not be realized, or realized in the manner described herein. 

Andreas Gedeon
Managing Director
Phone: +1-250-713-6302
Email: agedeon@mmj.ca
www.mmjphytotech.com.au
↧

Nanollose Ltd (ASX:NC6) Quarterly Update

January 30, 2018, 2:21 pm
$
0
0
Nanollose Limited (ASX:NC6) (NC6 or the Company) is pleased to provide its Appendix 4C Cashflow Statement for the quarter ended 31 December 2017, together with the following operational update.

Highlights

- Nanollose became the first company to successfully convert Plant-Free cellulose into a rayon fibre, marking a significant global breakthrough for the textile and clothing industries

- Nanollose filed its first international patent application relating to a method of processing microbial cellulose into 'pulp' - a material suitable for a broad range of commercial applications

- Nanollose successfully admitted to the Australian Securities Exchange (ASX) after raising A$5 million in oversubscribed Initial Public Offer (IPO)

- Commenced talks with various global entities and potential industrial partners on collaborations, with the aim to explore, forge and solidify relationships in the near term

Creation of world first Plant-Free viscose-rayon fibre

In December, Nanollose filed a provisional patent to protect the production of its world-first Plant-Free viscose-rayon fibre, marking a significant breakthrough for the global textile and clothing industries that until now have had limited eco-friendly fibre alternatives available to them.

This milestone validates that the Nanollose technology can convert Plant-Free microbial cellulose into valued commercial fibre products. This gives the Company a significant opportunity in offering a sustainable alternative for plant-based fibres such as viscose-rayon, which are widely used, but have significant environmental impacts.

First international patent application filed

In November, Nanollose filed an International Patent Application relating to methods for processing microbial cellulose to pulp, a material suitable for a broad range of commercial applications including medical scaffolding, non-woven fabrics and absorbent feminine hygiene products.

This became the first step in solidifying and expanding the Company's technology and patent portfolio strategy, and Nanollose is working towards developing materials made from microbial cellulose pulp to meet the increasing interest from industries for environmental and sustainable solutions.

Efforts to secure commercial supplies of Plant-Free microbial cellulose underway

In early December, management met with established coconut industry groups in South East Asia to secure a supply of microbial cellulose, which will then be processed into Plant-Free rayon and other fibres using Nanollose technologies. These discussions have now advanced and Nanollose expects initial supply to be secured in the near future.

Successful listing on the ASX

Nanollose successfully commenced trading on the Australian Securities Exchange on 18 October 2017 after raising $5 million in its initial public offering (IPO) via the issue of 25 million new shares. The proceeds of the IPO have allowed the Company to advance its research and development program, protect its intellectual property and accelerate commercialisation activities.

Strong interest in Nanollose technology

Over the past 3 months since listing, interest in Nanollose's fibre technology from multiple textile, apparel and fibre manufacturers has been significant. The Company is currently accelerating development to be able to generate sufficient quantities of fibre samples for these groups.

Nanollose is currently in early stage discussions with:

- Global textile groups from high end designers to mass market brands and retailers

- US personal hygiene companies

- European automotive industries

- European cosmetics and fast moving consumer goods groups

- International ethical investments funds

Within the next quarter it is the Company's intention to progress discussions into agreements with a number of these groups and provide material validation of the Company's technology.

Outlook

Demand remains strong for sustainably produced fibre materials that could replace current environmentally detrimental options available to industries. Nanollose is at the forefront of this growing demand, and looks to strengthen its position as first mover in its space by focusing on three foundational pillars:

1. Refine the Nanollose technology: The Company is currently at a product development stage where physical samples are being proven, tested and produced ahead of being commercially ready.

2. Develop a raw material supply chain: Current raw material research has been based on accessible and repurposable microbial cellulose feedstock. The next step is to develop a supply chain with current partners that will boost capacity and broaden feedstock development to include industry waste streams.

3. Solidify value chain partners: Nanollose has received significant interest from many areas of the global textiles industry since announcing its production of viscose-rayon fibre from microbial cellulose.

Nanollose has commenced talks with various entities and industrial partners on collaborations along with possible joint venture models. These cover opportunities around investment, supply chain, research acceleration and product development. The Company aims to explore, forge and solidify relationships in the near term.

To view the release, please visit:
http://abnnewswire.net/lnk/OZYI0H41 

Alfie Germano
CEO & Managing Director
Email: alfie.germano@nanollose.com
Phone: +61-411-244-477

Michael Wills
Media and Investor Relations
Email: michael.wills@nanollose.com
Phone: +61-468-385-208
↧
Search

Investigator Resources Ltd (ASX:IVR) Quarterly Activities Report

January 30, 2018, 3:06 pm
$
0
0
Investigator Resources Ltd (ASX:IVR) provides the Company's Quarterly Activities Report for the period ending 31 December, 2017.

HIGHLIGHTS: Pre-feasibility work and extension drilling at priority Paris Silver Project under-pinned by oversubscribed raising

Paris Expansion - potential to build on the 42Moz silver resource

- December drilling showed prospective southern extensions.

- Induced Polarisation ("IP") geophysical surveying of satellite silver prospects commenced in December with expected February completion.

- Drill follow-up scheduled through February-April.

Paris Pre-Feasibility Study - progressing to schedule

- Positive Water Supply and Ore Hardness results.

- Flotation/leach Metallurgical study is nearing completion with results due later in the March 2018 quarter.

- Preliminary Open-Pit Optimisation for the 2017 Upgraded Mineral Resource.

Nankivel Porphyry Copper-Gold Prospect - preparations complete for February drilling

- First drilling of the large Trojan IP target will test for a breakthrough copper porphyry of probable Olympic Dam age.

Maslins IOCG Copper-Gold Target - infill Magneto-Telluric survey to advance large target

- Collaboration with government survey extending from Carrapateena.

- Results will assist decision to drill test the target during 2018.

Cartarpo Copper-Cobalt-REE Target - historic mine reveals multi-commodity grades

- Gossan samples up to 1.78% Cobalt with interpreted extensions worthy of immediate follow-up.

Share Purchase Plan closes oversubscribed - raising $1.0 million

- Complements $2.4M placement at the end of the last quarter with current cash balance of more than $4M.

- To fund Paris PFS & on-going drill campaign into 2018 on Paris extensions, satellite silver targets and nearby Trojan porphyry copper gold target.

Managing Director's comments:

Investigator Resources Managing Director John Anderson said "The two oversubscribed equity raisings enable Investigator to maintain momentum at our priority Paris Silver Project, to advance copper-gold targets and to develop new discovery opportunities in South Australia. After an active December, we are ready for a strong start to 2018 with three drill programmes scheduled in the current quarter.

Extension drilling and geophysical surveying commenced around Paris in December to strengthen the 42Moz high-grade and open-pittable silver resource, with positive initial drill results requiring immediate follow up drilling in February. In parallel, the on-going pre-feasibility studies to determine development options for Paris are progressing. A potential water source has been identified and metallurgical studies are continuing towards completion of a pre-feasibility Study in mid-2018.

Our two large copper-gold targets received boosts during the quarter. Final access permits were received and drilling will commence in February on the Trojan IP target near Paris. This is interpreted to be the copper-prospective core to the Nankivel porphyry system, a new concept for the Gawler Craton. The Maslins IOCG target in the Olympic Dam belt will benefit from government geophysical surveying now scheduled for March. IVR is making collaborative contributions for optimum coverage to determine if Maslins has the same breakthrough signature as is now recognised at Olympic Dam.

Investigator's generative team have been busy using their expertise to match old exploration and mining data with new concepts to identify copper, gold, silver, nickel and cobalt discovery opportunities. The Cartarpo copper-cobalt-rare earth element prospect near Burra provides early encouragement for the approach with assays now awaited from sampling of historic copper-gold workings at Wiawera near Olary (see Figure 1 in link below)." Mr Anderson added.

To view the full report, please visit:
http://abnnewswire.net/lnk/3E97P1LG 

Mr John Anderson
Managing Director
Investigator Resources Limited
E: info@investres.com.au
T: +61-8-7325-2222

Mr Peter Taylor
Investor Relations
NWR Communications
E: peter@nwrcommunications.com.au
T: +61-41-203-6231
↧
↧

Australian Bauxite Ltd (ASX:ABX) Quarterly Report and Activities Statement

January 30, 2018, 3:27 pm
$
0
0
Australian Bauxite Ltd (ASX:ABX) provides the Company's Quarterly Report and Activities Statement for the period ending 31 December, 2017.

Corporate

- Current group available cash at the end of the quarter was $1.94 million.

- ABx has lines of credit for working capital, if required, and has no current plans for capital raisings.

Sales & Operations

- ABx loaded and shipped a combined 35,000 tonnes of cement-grade bauxite from the Bell Bay export port in Tasmania, 3 weeks ahead of schedule in October 2017.

- Fertiliser grade bauxite sales are growing steadily to satisfy growing agricultural demand at modest but valuable prices in Australian dollars. The outlook for regular fertiliser sales during 2018 is positive.

- Once sales despatches were completed, operations at the Bald Hill bauxite project at Campbell Town in northern Tasmania finalised the rehabilitation of pit areas MB6 and MB5. The rehabilitated land has been returned to sheep grazing in accordance with company policy to leave the land better than we found it.

Bauxite Refining Technology

- This technology is for producing Aluminium Fluoride (AlF3) used as an electrolyte for aluminium smelters & lithium ion batteries and a co-production of Corethane which is an ultra-pure hydrocarbon that can substitute for natural gas for electricity and heating of the ALCORE plant and for sale into the national grids if needed. Corethane also has markets for metallurgical use and brickmaking.

- ABx executed a Heads of Agreement with technology provider, Refined Ore Industries Limited (ROIL) for the global exclusive rights to apply the technology to beneficiate and refine bauxite into high-value products. ABx worked with ROIL to complete the technology development and to make the patent application in June 2017.

- ALCORE's business plan is to develop the first of several ALCORE bauxite refinery projects in Tasmania and/or northern QLD. ABx's uniquely clean bauxite is ideal for ALCORE because it is totally free of deleterious elements.

- ABx has commissioned Turnkey Innovative Engineering Pty Ltd (Turnkey) to help in the engineering, design and costing of the 1st stage of the ALCORE project to generate bulk samples of products for market-testing by ALCORE's prospective customers. ABx plans to report to shareholders about Stage 1 in March 2018.

- Financing plans are scheduled to be finalised in mid-2018. ABx has been approached by a party involved in the Aluminium Fluoride industry to discuss Stage 1 financing and, if successful, other participants in the Aluminium Fluoride industry have expressed interest in providing some finance for the construction of the 50,000 tonne per year production plant, subject to offtake agreements. Demand for AlF3 is clearly strengthening.

- A third party is also seeking access to the Stage 1 Plant for the purification of graphite on terms that may supply one third of the cost of the Stage 1 Plant during its 12 to 18 months of testwork.

- Discussions are continuing with Federal and State Government ministries and with a government authority and these discussions will continue in 2018.

- ABx has been approached by two major companies seeking negotiations for access of two of the co-products from the ALCORE production plant, namely Corethane and Silica Fume.

Review of Binjour project

- ABx and its Indian marketing partner, Rawmin Mining and Industries (Rawmin) have applied for a Regional Jobs and Investment grant for the commencement of the Binjour Bauxite project in the Wide Bay Burnett region of central Queensland, shipping from the Port of Bundaberg.

- Resource modelling is in progress. Binjour Bauxite project resources are currently estimated as totalling 28 million tonnes from Binjour exploration licences (See Resource Statement) and granted mining lease at Toondoon south of Mundubbera. (See Resource Statement)

- Bulk samples were collected ahead of schedule in late December to expedite negotiations with customers for the execution of offtake sale-purchase agreements for the project.

TasTech Process Technology

- ABx completed a bulk-scale mining and processing project to confirm the effectiveness of ABx's TasTech technology at Fingal Rail project area, using freshly quarried Fingal Rail ore and stockpiled Bald Hill ore.

Bauxite Refining Technology

ALCORE's bauxite refining technology produces Aluminium Fluoride (AIF3) and other co-products including the gas-substitute Corethane to power the plant and Silica Fume for the cement industry which ABx already services with its supplies of cement-grade bauxite.

ABx has been in negotiations with potential customers about technical specifications for its AIF3 product and it is considered likely that there is sufficient demand for a 50,000 tonnes per year AIF3 production plant.

ABx will control all marketing of ALCORE products and is pleased to supply customers in the bauxite-aluminaaluminium industry to become more cost-efficient at the smelting stage, not just at the bauxite stage. Currently all AIF3 used in Australia is imported at prices higher than those paid by overseas competitors.

Summary

ALCORE's bauxite refining converts Tasmanian bauxite valued at approximately US$50 per tonne into a suite of products worth in excess of US$800 per tonne of bauxite representing a more than 10-times increase in the value per tonne of bauxite.

Competitive Advantage

ALCORE also exploits ABx's main strength - its uniquely clean chemical composition, totally free of any deleterious elements that would inhibit ALCORE's bauxite refining efficiency. Few, if any other Australian bauxite is so suited to ALCORE's bauxite refining technology.

Timetable

ABx has published a timeline for this project as follows:

1. Complete assessment and costing of the Stage 1 "EV Plant" stage: 28 February 2018

2. ABx Board to review and agree to proceed or otherwise: Early March 2018

3. ABx to announce its development plans, costs and financing: Mid March 2018

Binjour Project Commencing Financial Studies

This project area is located inland from Bundaberg, central Queensland, comprising the main project area located at Binjour, 115kms SW of Bundaberg between Gayndah and Mundubbera with a granted Mining Lease at Toondoon 25kms south of Mundubbera and an exploration project at Brovinia further to the south.

ABx and its Indian marketing partner, Rawmin Mining and Industries (Rawmin) have applied for a Regional Jobs and Investment grant for the commencement of the Binjour Bauxite project in the Wide Bay Burnett region of central Queensland, shipping from the Port of Bundaberg.

Resource modelling is in progress. Binjour Bauxite project resources are currently estimated as totalling 28 million tonnes from Binjour exploration licences (See Resource Statement) and granted mining lease at Toondoon (See Resource Statement) south of Mundubbera. (See Resource Statement)

Bulk samples were collected ahead of schedule in late December to expedite negotiations with customers for the execution of offtake sale-purchase agreements for the project. Discussions with prospective customers have commenced.

Once results from the resource re-estimation and the analyses of the bulk samples by multiple laboratories is completed, ABx will make a public statement of those results in the form of an ASX release.

To view the release with tables and figures, please visit:
http://abnnewswire.net/lnk/4DV6T63Z 

Ian Levy
CEO and MD
Australian Bauxite Limited 
T: +61-2-9251-7177
M: +61-407-189-122
E: ilevy@australianbauxite.com.au
↧

Greatcell Solar Limited (ASX:GSL) December 2017 Quarterly Report

January 30, 2018, 3:31 pm
$
0
0
Greatcell Solar Limited (ASX:GSL) (OTCMKTS:DYSOY) provides the Company's Quarterly Report for the period ending 31 December, 2017.

- 2QFY2018 TAB Milestone Achieved - 13% MPPT Performance for Au free P-I-N cells

- $6 Million ARENA Grant - Terms Agreed and Signed

- Prototype Facility Fitout and Equipment Plans Nearing Finalisation

- Capital Equipment Orders for Prototype Facility Commenced

- Greatcell Awarded EUR700,000 Horizon 2020 (Apolo) Grant

- New World Record of 13.5% for Roll-To-Roll Metals PSC for BIPV Applications

- Key Blocking Patent Acquired from Abengoa

To view the full report, please visit:
http://abnnewswire.net/lnk/TR8NVD28 

GSL Headquarters: 
Marine Andre
Investor Relations Manager
T: +61-2-6299-1592 
E: mandre@greatcellsolar.com

Germany & Europe: 
Eva Reuter
Dr Reuter Investor Relations 
T: +49-177-605-8804
E: e.reuter@dr-reuter.eu
↧

EnviroSuite Limited (ASX:EVS) Quarterly Update

January 30, 2018, 3:42 pm
$
0
0
EnviroSuite Limited (ASX:EVS) provides the Company's second quarter update FY18 for the period ending 31 December, 2017.

Quarter highlights

- New sales in Australia, Europe and USA

- Significant growth in near-term pipeline

- Increase in sales team in Nov-Dec 2017

- Acquisition of Odotech Inc and its subsidiary in Chile

- Implementation of strategic marketing system

CEO Overview

My first six months back in the CEO role have been fast moving as we position the company as a global technology business. In the first few months of this financial year we reviewed our strategy following the successful completion of the sale of the group's foundational consulting business. This review included a formal strategic sales and marketing overhaul, review of the management structure and the identification of key global sales priorities.

The key actions arising from the review were:

- Rapidly expand our direct sales force in North America and Europe

We still believe that in the medium-long term the growth through partners will be critical to our business, however we are determined to refine our marketing and partner support before further growing our existing network of leading industry partners.

- Repackage our offering to make it more targeted around market sector

We now emphasise market solutions rather than technical capabilities in the module basis approach we have taken to market in the past. We are successfully moving from a technical sale targeting environmental teams, to a commercial sale aimed at the operations teams within our target markets.

- Implement a new strategic marketing system to align our messaging and allow for greater automation of the lead generation processes

In September and October, we set about implementing these actions which were completed by the end of the December quarter. We had 3 sales people in October 2017 and by the end of December 2017 we had appointed a further six highly experienced and qualified sales people to join the organisation across Europe, UK and USA. As well as this a highly experienced Channels Manager has been hired in Australia to further expedite the partner program. We have repackaged our offering into seven distinct offerings targeting the main sectors of Mining, Waste Water, Regulatory, Ports, and Oil and Gas. We have also started implementing a new marketing system to direct leads into our CRM.

Complementing this effort, a fortuitous opportunity arose to cheaply acquire a competitor in the odour management space. Odotech Inc has been known to us for some time as a well-established supplier to the waste water industry. This acquisition has enabled us to expand our global foot print and hire key specialists in the waste water field. Odotech Inc has over 80 clients worldwide as well as existing contracts, intellectual property and other assets. During 2018 we will be working to migrate all clients to the Envirosuite platform.

We now have a team of 65 people across 7 countries, with offices in Brisbane, Madrid, San Francisco, Montreal and Santiago (Chile). Our sales team has increased from 3 to 13 during November and December and with this additional capacity comes increased opportunity. This has also increased the cost base however we are funded well into the 2019 financial year and we have made these moves to optimise our positioning to achieve accelerated growth.

Although we have added new clients during the quarter, the landed sales for the six months to 31 December 2017 have not been as high as hoped. This reflects the transition to a new CEO, corporate transformation (selling Pacific Environment Consulting and acquisition of Odotech) and the inevitable lag in the sales cycle for the newly recruited team. However, particularly with the new sales team, an unprecedented pipeline and new Odotech clients, we expect to see the number of licence wins increase significantly from hereon.

The near-term pipeline includes opportunities from both the established Envirosuite and the "new" Odotech businesses including:

- Thames Water, UK (third site)

- Middle East Government Waste Water

- Regulatory Management District - USA

- Multiple Municipal Authorities - Canada and USA

- Mining - South America

- Wastewater - New Zealand

- Ports - Australia

Our focus remains on winning corporation-wide multi-site licences once a significant number of sites have been converted with any one company or authority. Traditionally, we have offered the Envirosuite platform on a site basis, and multi-site licences offer the prospect of subscriptions in the hundreds of thousand dollars. For all clients, we continue to sell the Envirosuite platform on a recurring SaaS licence basis.

As indicated previously we are targeting a minimum of 100% growth in annuity revenues year on year for the 2018 and 2019 financial years.

To view the full release, please visit:
http://abnnewswire.net/lnk/OU82H1F5 

EnviroSuite Limited
T: +61-7-3004-6400
E: investor@envirosuite.com
WWW: www.envirosuite.com
↧

Big Un Ltd (ASX:BIG) December 2017 Quarterly Update

January 30, 2018, 3:53 pm
$
0
0
Big Un Limited (ASX:BIG) (OTCMKTS:BGGNF) (or 'the Company') is pleased to announce the release of its 4C results for the quarter ended 31 December 2017 (Q2 FY18). BIG achieved cash receipts from customers for the quarter of $22.5m (up 460% from Q2 FY17).

BIG achieved a cash profit of $10.3m for Q2 FY18 from operating and investing activities and a further $5.6m was received from the exercise of share options resulting in a net increase in cash of $15.8m and a closing cash balance of $31.4m.

Financial and Operations Overview

Cash-flow Performance and Management

- Cash Receipts from Customers of $22.5m, up 460% from Q2 FY17. This includes $2.4m in Cash Receipts from Customers in the US, an increase of 267% on the prior quarter.

- Operating and Investing Activities generated a cash profit of $10.3m for the quarter as the Company maintained its global cash-flow positivity.

- Operating and Investing expenses well controlled, delivering a 46% cash margin and the Company continues to run cash-flow positive in the US as initial operations start to deliver cash revenues.

- Increase in operational expenses over the quarter reflects ongoing operational growth alongside investment in US expansion, investment in technology and marketing costs.

Operations

- Revenue generated from existing customers totalled $2.8m in Q2 FY18. This represents 82% of revenue generated from customers in the corresponding quarter Q2 FY17 following sales resources focusing on the monetisation and conversion of new FAB and BHA customers during Q2 FY18.

- The BIG database of members and subscribers grew to 131,400 members, an increase of 472% from prior year, following the completion of the acquisition of the hospitality vertical (FAB) from The Intermedia Group.

- The sales pipeline includes 14,700 customers who have made a purchasing decision, of whom 6,800 have taken a paid membership (a conversion rate of over 40%). There are a further 17,700 in the sales pipeline currently and 34,000 Hair and Beauty (BHA) subscribers plus 65,000 Hospitality (FAB) subscribers.

- Paid memberships of 6,800 represent an increase of 149% from Q2 FY17.

- Offering of larger bundled video memberships resulted in continued lift in ARPU to $8.2k (up 89% from Q2 FY17)

- Video content views continued to grow to 50.4m, up 137% from Q2 FY17

- Sales operations continue to expand in both Australia and the US and the Company continues to focus on reducing the cost of sale using strategic sales centre locations and targeting localities that offer high quality recruitment of personnel. Further USA operational updates to come.

- Autogen: BHA and FAB databases now being integrated for implementation of Autogen video campaigns Q3 FY18.

Outlook

Commenting on the outlook for the business Richard Evertz says, "The Company growth continues at an incredibly exciting pace, reflecting continued high demand for our video technology platform and products. We have ended this quarter with a healthy cash surplus and are excited at the Company outlook for the coming financial year. We look forward to passing the milestone of achieving a cash revenue run rate of $100m in the near future as we focus on consolidating our first to market advantage in Australia through our key verticals and focus on US expansion. The management team are laser focused on the execution of our global growth strategy, customer retention and forming deeper relationships with our customers through cross-pillar marketing activity and the development of partnerships in key vertical markets both in Australia and overseas." 

Sonia Thurston
Communications Director
E: ir@bigunlimited.com.au
↧
↧

Blackham Resources Ltd (ASX:BLK) Quarterly Report December 2017

January 30, 2018, 3:54 pm
$
0
0
The Board of Blackham Resources Ltd (ASX:BLK) (OTCMKTS:BKHRF) (Blackham or the Company) provides the following update on its activities for the quarter ended 31 December 2017 and thereafter:

Matilda-Wiluna Gold Operation

- Quarterly gold production totalled 14,922oz (Sep'17 quarter 15,619oz)

- Mining:

o high grade ore zones now accessed from M4 and Galaxy pits, which will provide higher grade feed during 2018, underpinning anticipated improved production and positive cash flows

o high grade ore mined during month of Dec'17 of 137kt @ 1.6g/t, with total gold mined for the month of 7,887oz

o high grade ore mined during the first four weeks of January of 210kt @ 1.55g/t, with a total of 11,410oz of gold mined during that period at a rate significantly higher than monthly milling capacity of 160kt per month

o significant reduction in waste material mined in the quarter, leading to reduced open pit mining costs

o underground mined grades during Dec'17 and Jan'18 significantly better than reserve grades

o high grade stockpiles built up since mid-Dec'17 and are currently 111kt @ 1.4g/t Au

- Record milled tonnes of 443kt during the Dec'17 quarter, with plant recovery increasing to 92.3% (379kt and 91.5% in Sep'17 quarter)

- Record weekly gold production of 1,685oz achieved in last week of Dec'17 at an average mill feed grade of 1.5g/t Au

- All in sustaining costs reduced to A$1,359/oz in the month of Dec'17 and A$1,882/oz for the Dec'17 quarter (Sep'17 quarter A$2,236/oz)

Corporate

- Cash and bullion at the end of the quarter $10.3m (30 Sep'17 - $9.8m)

- Successful refinancing of $14.3 million term loan repayment (previously due on 31 Dec'17)

- Fully underwritten renounceable Entitlement Offer launched to raise approximately $36 million (before costs)

- Board and executive team strengthened

o Milan Jerkovic appointed Executive Chairman

o Greg Fitzgerald to be appointed a Non-Executive Director

o Mr Linton Kirk and Mr Jonathan Lea to join a newly formed Technical Advisory Committee

To view the full report, please visit:
http://abnnewswire.net/lnk/353O4XI7 

Milan Jerkovic
Chairman
Blackham Resources Limited
Office: +61-8-9322-6418

Jim Malone
Investor Relations Manager
Blackham Resources Limited
Office: +61-419-537-714

John Gardner
Media Relations
Citadel-MAGNUS
Office: +61-413-355-997
↧

XPED Ltd (ASX:XPE) Company Update

January 30, 2018, 3:54 pm
$
0
0
Australian Internet of Things (IoT) technology company, Xped Limited (ASX:XPE) ("Xped" or "the Company") is pleased to provide this market update regarding recent progress and developments.

Highlights

- Vital Xense government grant

- Lenze iPark shipments begin

- Telink developments

- Smart buildings products progress

- Smart home products progress

- Investment in Marketplace Services Pty Ltd to grow Xerts

- Cost savings and Board restructure

- Areas of key focus

Vital Xense government grant

Vital Xense and its partners announced recently that they have won a grant from the Singapore Government worth over SG $2M. The grant is to fund research into optimizing the energy usage of data centres.

As part of this trial, a major data centre in Singapore will be fitted out with hundreds of sensors to monitor the temperature, humidity and air pressure.

This information will be gathered and analyzed to determine how to optimally control the chiller plant to maintain the data centre's service level agreement with its customers while minimizing energy usage.

Xped is expecting Vital Xense (a Singapore company 35% owned by Xped) to place an order for its Discover Bus range of wired and wireless sensors in the next few weeks.

Lenze iPark shipments begin

Xped is pleased to announce that after a trial batch was tested in the field - which resulted in approximately 16,000 downloads of the iPark App - production shipments commenced in December and to date there have been approximately 29,000 downloads of the iPark app.

In November, Lenze won a new customer and the iPark app was rebranded as iCarPark.

There was a delay putting this new app on the Apple App Store due to Apple requesting samples of the hardware for verification. Apple's verification went smoothly and authorisation to release the app to the App Store was granted on 15 December 2017.

Telink developments

Xped has developed a BLE (Bluetooth Low Energy) based infrared blaster based on the Telink 8267 chip.

The blaster also includes a chip from UEI, which is one of the market leaders in infrared technology.

The UEI chip comes with a database containing the control codes for most of the popular appliances available. The product is currently being integrated into the Xped app and can be used without an Xped IoT gateway.

Once this work has been completed, a preproduction run will be scheduled and samples will be made available for beta testing and for business development purposes.

The "BLE Tap" technology is now integrated into the Telink 8261 chip which operates as a standalone subsystem. This chip can be used by device manufacturers to facilitate the pairing of a device using a tap gesture with phones that do not have NFC.

This makes it possible for iPhones to tap on devices that incorporate this chip. Xped will be working closely with Telink to promote this technology to its existing client base.

Smart building products

The first order for these products is expected to come from Vital Xense for its data centre project. Manufacturing of Xped's smart buildings products is expected to commence on receipt of a purchase order.

These products based on patented ADRC technologies, are quick and easy to install and provide superior functionality as well as ultra-low power operation, enabling them to run on a coin cell battery for up to 10 years.

The range of smart building products can now be viewed on the company website (effective December 2017).

Smart home products

Xped is in the final stages completing the development of its first offering of products intended for the smart home market.

These products are targeted at home security, which independent research shows is the area of greatest demand by consumers. The range of devices includes: motion sensors, door/window sensors, panic button, light switches, LED RGBW lights, glass break sensors, indoor and outdoor sirens, and indoor and outdoor IP cameras.

The selected devices which come from a range of popular vendors, use Wi-Fi and Z-wave communication technologies and are controlled by an Xped developed IoT gateway.

The Xped app is able to control and monitor these devices as well as providing 'scenes', 'rules automation' and 'notification' functionality.

Scenes provide a convenient way to set a number of devices into a desired state. For example, a 'scene' called 'Watch TV' can be created by a user to turn on the TV, set the input to HDMI1, turn on the surround sound system and turn on the Apple TV - all with the touch of a single button.

Rules automation is a very powerful feature that allows things to be controlled based on events generated by sensors or based on the time of day or on a particular date and time. For example, a 'rule' can be created by a user to turn on a siren when a window breaks or to turn on a light at 6am Monday to Friday.

Notifications enable the user to receive a notification on their mobile phone when something happens in the home. Notifications are sent using the push notification feature of iOS and Android and will be received whether the Xped DeB app is running or not. For example, a user can enable a notification to be sent when the front door is opened.

This advanced system that works across multiple different IoT protocols and vendors, including Xped's own ADRC protocol was demonstrated to a major Asian telco (during January), who have subsequently invited Xped to install the system in the demonstration centre at its corporate headquarters.

Voice control of these products will be possible in Q3 after integration of the Amazon Alexa service has been completed.

Investment in Marketplace Services Pty Ltd to grow Xerts

Xped invested in Marketplace Services Pty Ltd (MPS) in December in the form of 25 million ordinary shares while providing a loan facility of $350,000 in the form of a convertible note repayable in 24 months.

This relationship allows Xped to focus on the commercialisation of its core ADRC technologies whilst Marketplace Services Pty Ltd undertakes business development of Xped's patented digital coupon technology known as Xerts for the Australian market.

Cost savings and Board restructure

Well-respected South Australian businessman, Mr Peter Hunt, was appointed as Xped's Non- Executive Chairperson in September last year as part of the Company's overall strategy to prioritise its development resources on opportunities with the highest likelihood of revenue return.

Following Mr Hunt's appointment, the Board commenced an organisational restructure spanning the entire business. As a result, the Board was reduced from five directors to three with Dr Wenjun Sheng and Martin Despain resigning from their roles as Directors and moving into retainer-based consultancy agreements to continue their business development efforts with Xped, with further remuneration being aligned to revenue-based performance.

Mr John Schultz also resigned from the Board allowing Mr Hunt to join the Board while keeping the Xped Board to three. Mr Schultz continues in his role as the Head of Projects for Xped.

His resignation from the Board has increased his capacity to manage internal engineering teams, which has seen development pace increase within Xped's hardware and devices team. Other cost savings included a review of professional services providers and consultants, as well as a review of human resources expenditure performed by TBH Consulting.

Areas of key focus

Key areas of focus for Xped currently are the commercialisation of its ADRC technology with telecommunication carriers, data centre operators and property developers being priority target markets.

During the quarter, Xped's 100% owned subsidiary, JCT Healthcare, continued to generate revenue and is in the delivery phase of several of the previously announced contract wins with these projects to be delivered this financial year.

JCT Healthcare continues to pursue further sales opportunities and continues to support channel partners and resellers in sales and project delivery activities.

Another priority for the company has been to transition JCT Healthcare to a stand-alone business. This has included moving all staff and other parts of the business into one location. 

For more information:
Contact Xped Limited
T: +61-3-9642-0655
F: +61-3-9642-5177
E: info@xped.com
www.xped.com 

CORPORATE ENQUIRIES:
E: ir@xped.com 

MEDIA ENQUIRIES:
Sean Whittington
Field Public Relations
T: +61-8-8234-9555
M: +61-412-591-520
↧
Search

Prospect Resources Ltd (ASX:PSC) Raises $10m in Oversubscribed Placement

January 30, 2018, 4:11 pm
$
0
0
Prospect Resources Limited (ASX:PSC) ("Prospect" or the "Company") is pleased to announce the completion of an oversubscribed placement of 166m shares at an issue price of 6c per share to institutional and sophisticated investors, to raise $10m (before costs).

Highlights

- Prospect raises $10m via the issue of 166m shares at 6c per share ("Placement").

- Hunter Capital Advisors Pty Ltd acted as sole lead manager to the Placement.

- Proceeds of the Placement to be used to:

o accelerate the development of the Arcadia Mine;

o progress exploration at the Good Days Lithium Project (under option);

o investigate and possibly acquire additional lithium and cobalt projects; and

o supplement general working capital.

The proceeds from the Placement are expected to enable Prospect to accelerate the development of the Arcadia Lithium Project and take advantage of the support offered by the new Zimbabwe Government under its Rapid Response Initiative. We look forward to attending and promoting Prospect and our Arcadia Lithium Project at the African Mining Indaba in Cape Town next week.

The Placement will be completed by utilising the Company's existing capacity under ASX Listing Rules 7.1 (6,253,838 shares) and 7.1A (160,412,829 shares). The issue price of 6 cents represents a discount of 5.3% to the 15 day VWAP of the Company's shares.

Hunter Capital Advisors Pty Ltd has acted as sole lead manager to the issue which is scheduled to settle in full on Monday, 5 February 2018. 

Hugh Warner
Prospect Resources Ltd
Executive Chairman
T: +61-413-621-652

Harry Greaves
Prospect Resources Ltd
Executive Director
T: +263-772-144-669

Stephen Silver
Hunter Capital Advisors
Managing Director
T: +61-2-8379-2958
WWW: www.prospectresources.com.au
↧

NOVONIX Ltd (ASX:NVX) Quarterly Activities Report

January 30, 2018, 4:58 pm
$
0
0
NOVONIX Limited (ASX:NVX) (FRA:GC3) ("NOVONIX" or "the Company") is pleased to provide the following Quarterly Activities Report for the December 2017 Quarter.

HIGHLIGHTS

- PUREgraphite pilot plant installed in Tennessee, USA

- Strong international sales of NOVONIX battery testing equipment and services

- Future appointment of Andrew N. Liveris A.O. to the Board announced

- $1 million investment/placement to Mr Liveris and Admiral Natter

- $4 million investment/placement to institutional and sophisticated investors

- 100% early conversion of convertible notes by investors

Background

PUREgraphite is an exclusive joint venture between NOVONIX and COULOMETRICS formed in April 2017 to commercialize high-performance anode materials for lithium-ion batteries based on intellectual property developed by Dr Edward Buiel (founder of COULOMETRICS).

The December 2017 Quarter

This quarter was focused on continued refinement of product and production process, design, procurement and installation of a pilot processing facility in Tennessee, and preparation for higher commercial tonnage trials.

The product development work verified and expanded on the intellectual property acquired from Coulometrics and provides PUREgraphite with compelling hard performance data when engaging the market.

PUREgraphite is manufacturing anode materials that demonstrate extremely high levels of electrochemical efficiency, consistently above "best in class" reference EV cells commercially available in the market today and in line with our expectations.

Our PUREgraphite team based in Chattanooga Tennessee USA currently includes our CEO, Dr Edward Buiel, five engineers, five technicians, and part-time support staff.

During the December Quarter, our facility in Chattanooga was upgraded to accommodate the pilot plant including a significant electrical upgrade to run furnaces and milling equipment, along with a security upgrade to better protect the facility and our intellectual property.

Pre-shipment inspection and testing was undertaken on critical pilot plant equipment with manufacturers to ensure it met our requirements before dispatch to Tennessee.

The pilot plant equipment was shipped, received and installed during the quarter. The pilot plant enables the business to manufacture its anode material products (including all process steps under one roof) in sufficient quantities to support comprehensive customer qualification programs going forward. End-to-end capability at Tennessee now includes capability to crush, mill, shape and blend precursor materials, perform thermal purification, undertake multiple particle coatings and heat treatments, manufacture high quality electrodes and battery cells and perform comprehensive battery cell testing and benchmarking.

Our pilot plant will be used to manufacture and customize product samples for customer qualification programs (up to 50 kg per day) while also accelerating our internal product development programs.

Testing of suppliers and service providers was another active work stream during the quarter and this continues through the next two quarters.

We maintain our target of establishing a 1,000 tpa production capability by 30 June 2018 that will incorporate a combination of internal production and some outsourced components.

We are also making good progress in assessing options, developing plans, assessing sites and service providers to rapidly scale the business up to 100 ktpa of anode material production.

To view the full report, please visit:
http://abnnewswire.net/lnk/HZWDLVI2 

Philip St Baker
Managing Director
Phone: +61 438 173 330
Email: phil@novonixgroup.com
Website: www.novonixgroup.com
↧
↧

Incremental Oil And Gas Limited (ASX:IOG) Quarterly Activities Report

January 30, 2018, 6:33 pm
$
0
0
Incremental Oil And Gas Limited (ASX:IOG) (OTCMKTS:ICRMF) provides the Company's Quarterly Activities Report for the period ended 31 December, 2017.

1 HIGHLIGHTS

- Gross production for the quarter averaged 551 BOEPD - increase of 5% from Q3-17

- Purchase of the Borie Oilfield in December 2017

2 PRODUCTION

Gross production across all fields in Q4-17 was 50,716 BOE, an average of 551 BOEPD, an increase of 27 Boepd over the previous quarter.

Gross production for the last two quarters (Q4 and Q3-2017) and corresponding prior year quarter (Q4-2016) are shown in Table 1 (see link below).

The California fields (Sheep Springs and Round Mountain) continued with stable production during the third quarter.

3 SALES REVENUE

Table 2 (see link below) shows Net volumes of oil, gas and NGL's sold and Net sales revenue for the last two quarters (Q4 and Q3-2017) as well as the corresponding prior year quarter (Q4-2016).

4 BORIE OILFIELD ACQUISITION, DJ BASIN, WYOMING

The acquisition of the Borie Oilfield located in The DJ Basin, Wyoming was completed in December 2017. The effective date of this acquisition was October 1 and the Company took over operations in December after the purchase was finalised.

The field was discovered in the 1950's and has produced ~5.5 million barrels of oil from the Muddy/J-Sand formations which are at a depth of ~7,500'. The field covers leases with a net area of 2,850 acres, all held by production. There are 11 producing wells in the field. The criteria for selection of this field were as follows (see link below).

The Borie Field provides immediate profitable cash flow while also presenting future development opportunities for successful new oil wells.

The Borie Field lies within the DJ Basin which is one of the most prolific oil and gas producing regions in North America.

5 CORPORATE

The Company successfully completed a rights issue in November 2017 which raised A$2 million. Funds were used to purchase the Borie Field and pay for associated statutory environmental bonds.

In November, the company announced that it will be changing its name to Eon NRG Limited subject to shareholder approval at an EGM to be held on 6th February. The new ASX ticker code for Eon NRG will be "E2E". The name change reflects a change in strategy from acquiring producing assets with recompletion and workover development opportunities to a more aggressive value accretion strategy through drilling.

6 CASH, AND BANK DEBT (Unaudited)

At the end of the quarter, the consolidated cash and bank debt position of the Company were as follows:

Cash (US$) - $1,257,400 (Q3-2017 - $1,248,900)

(Q4-16 cash balance includes funds held on deposit as security for performance bonds - $672,700)

To view tables and figures, please visit:
http://abnnewswire.net/lnk/F63Y7960 

Australia -
Simon Adams, CFO
Email: sadams@i-og.net
Phone: +61-8-6144-0590
Mobile: +61-439-845-435
Web site: www.incrementaloilandgas.com

USA -
John Whisler, Managing Director
Email: jwhisler@i-og.net
Phone: +1-720-763-3183

Twitter: @IncrementalOG
↧

Sayona Mining Ltd (ASX:SYA) Quarterly Activities Report

January 30, 2018, 7:04 pm
$
0
0
Sayona Mining Limited (ASX:SYA) (OTCMKTS:DMNXF) ("Sayona" or the "Company") is pleased to announce the activities report for the quarter, including:

- Authier, Canada - major focus on completion of the optimisation programs for the Authier Optimised Pre-Feasibility Study and commencement of the Definitive Feasibility Study;

- Western Australian Lithium, Australia - rock chip and soil sampling programs completed at Mallina and Deep Well; and

- Capital raising - a $4.9 million capital raising to fund completion of the Authier Definitive Feasibility Study, Authier pilot metallurgical testing program and corporate costs was completed.

Highlights

- Authier JORC Mineral Resources and Ore Reserves upgraded

- Optimised PFS Completed - Pre-tax NPV8 of C$221m (AUD$227m), Pre-Tax IRR of 56% and capital payback 2.5 years

- MOU signed with Changyuan for potential Authier off-take and downstream processing

- Authier permitting and environmental studies advancing towards completion in 2018

- Authier Definitive Feasibility Study and Phase 3 drilling program commences

- $4.9 million renounceable rights offering successfully completed

To view the full report, please visit:
http://abnnewswire.net/lnk/X855K95W 

Corey Nolan
Chief Executive Officer
Phone: +61-7-3369-7058
Email: info@sayonamining.com.au
www.sayonamining.com.au
↧

Argent Minerals Limited (ASX:ARD) December 2017 Quarter Activities Report

January 30, 2018, 7:05 pm
$
0
0
Argent Minerals Limited (ASX:ARD) (Argent, or the Company) is pleased to report its activities and cash flow for the quarter ended 31 December 2017.

Highlights:

- Substantial JORC compliant Exploration Target added to the existing Kempfield resource.

- Potential extent of mineralisation identified to multiples of current resource dimensions:

o Strike length - increased 2.5 times to 3.0 km, with further potential to 7 km;

o Width - increased 1.8 times to 650 m;

o Depth - increased 2.0 times to 400 m.

- Excellent Kempfield metallurgical test results - metal recoveries significantly exceed historical assumptions.

- Acquisitions in world-class Mount Read Volcanics belt Tasmania.

- $2.5 M cash, following receipt of R&D claim funds and completion of oversubscribed placement to sophisticated investors.

To view the full report, please visit:
http://abnnewswire.net/lnk/L94CF65Q 

David Busch
Chief Executive Officer
Argent Minerals Limited
M: +61-415-613-800
E: david.busch@argentminerals.com.au
↧
Viewing all 12704 articles
Browse latest View live
More Pages to Explore .....
Search

Latest Images

New private rooms on Tokaido Shinkansen change the way we travel from Tokyo...

New private rooms on Tokaido Shinkansen change the way we travel from Tokyo...

April 22, 2024, 6:00 am
Ukraine bans military from online gambling amid addiction concerns

Ukraine bans military from online gambling amid addiction concerns

April 22, 2024, 5:17 am
ಮಂಡ್ಯದಿಂದ ಸುಮಲತಾ ದೂರ; ಹೆಚ್‌ಡಿಕೆ ಪರ ಪ್ರಚಾರಕ್ಕಿಳಿಯದ ಸಂಸದೆ –ಬರ್ತಾರೆ ನೋಡೋಣ ಎಂದ...

ಮಂಡ್ಯದಿಂದ ಸುಮಲತಾ ದೂರ; ಹೆಚ್‌ಡಿಕೆ ಪರ ಪ್ರಚಾರಕ್ಕಿಳಿಯದ ಸಂಸದೆ –ಬರ್ತಾರೆ ನೋಡೋಣ ಎಂದ...

April 20, 2024, 8:08 pm
OCBC Bank Singapore Offers Up to 2.8% p.a. Fixed Deposit Promotion from 21...

OCBC Bank Singapore Offers Up to 2.8% p.a. Fixed Deposit Promotion from 21...

April 20, 2024, 12:38 pm
National Poetry Month 2024: Maxine Starr

National Poetry Month 2024: Maxine Starr

April 19, 2024, 9:56 am
Vegan Chicken Pot Pie

Vegan Chicken Pot Pie

April 19, 2024, 9:18 am
Firefox UX: On Purpose: Collectively Defining Our Team’s Mission Statement

Firefox UX: On Purpose: Collectively Defining Our Team’s Mission Statement

April 19, 2024, 7:03 am
New $4.5 million East Bay trail path will connect bicyclists, pedestrians to...

New $4.5 million East Bay trail path will connect bicyclists, pedestrians to...

April 18, 2024, 11:05 am
Photographer Gifts for Clients / Print Packaging / 4x6 Photo Box by...

Photographer Gifts for Clients / Print Packaging / 4x6 Photo Box by...

April 17, 2024, 6:48 pm
Deepfake Video of Aamir Khan circulates Online

Deepfake Video of Aamir Khan circulates Online

April 17, 2024, 3:07 am