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Asia Business News

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    Core Exploration Ltd (ASX:CXO) ("Core" or the "Company") is pleased to announce that drilling has re-commenced at the high grade Grants lithium deposit on the Company's 100% owned Finniss Lithium Project near Darwin in the NT.

    HIGHLIGHTS

    - Core has commenced resource infill drilling on the high-grade Grants lithium deposit to upgrade the JORC Resource classifications

    - 2 multi-purpose RC/Diamond drill rigs currently operating, and a 3rd diamond drill rig scheduled to arrive in first week of February

    - First assays from Grants resource upgrade drilling are expected during February 2018

    - Grants lithium Mineral Resource upgrade expected in March 2018, and will feed into the Pre-Feasibility Study already underway

    - Mining Lease application and mining and processing approvals are also underway for the proposed development of the Grants Lithium mine

    Two multi-purpose RC and diamond core rigs are infill drilling at Grants to upgrade the confidence level of the initial high-grade lithium Mineral Resource announced in 2017. A third diamond core rig will arrive in the next few days once it has finished drilling at the nearby BP33 prospect which is also within the Company's Finniss Lithium Project.

    The initial Mineral Resource announced in 2017 of 1.8Mt @ 1.5% Li2O, highlights Grants as one of the highest grade undeveloped lithium deposits in Australia. Although Grants itself is a small scale development, it is expected to be a highly profitable mining project given its high grade, and potentially provide a central hub for development of other lithium resources which may be delineated within proximity to Grants. In this regard, Core is maintaining an aggressive exploration programme that includes drilling of several pegmatite prospects within the Bynoe Lithium Field.

    Core is aiming to announce an updated Mineral Resource estimate for the Grants deposit in March 2018 which will incorporate the new drill results and provide a key input into the Pre- Feasibility Study.

    Geotechnical drilling and evaluation studies will also be completed during the current drill program which will feed into detailed mine engineering and design that is to be conducted in 2018 in preparation for mine development.

    In addition, the Company is undertaking a five hole, wide diameter core drilling program for metallurgical studies that will feed into feasibility studies in 2018 that are considering production of spodumene products from Grants.

    The Pre-Feasibility Study (PFS) supporting the development of the Grants deposit is currently underway. The updated Mineral Resource estimate at Grants will underpin the PFS and following feasibility studies in 2018.

    Finniss Lithium Project Background

    Core has established one of Australia's highest grade lithium resources at the Grants Deposit within the Finniss Lithium Project near Darwin Port, Australia's closest port to China.

    Core has recently entered into a binding lithium Offtake Agreement and a conditional US$20 million Prepayment Agreement with one of China's largest lithium producers. Core has also established an agreement (HOA) to export spodumene products from Darwin Port.

    Core is progressing the regulatory and feasibility steps to drive the Grants Lithium Deposit through development and into production with the aim to establish long-life spodumene production from its large tenement holding located near grid power, gas and rail infrastructure and the skills and services of Darwin. The capital city of Darwin also provides an ideal technology, infrastructure and transport hub for potential downstream processing of lithium products as the EV and lithium battery industry continues to expand into the future.

    To view figures, please visit:
    http://abnnewswire.net/lnk/58O3OD25

    Stephen Biggins
    Managing Director
    Core Exploration Ltd
    T: +61-8-7324-2987
    E: info@coreexploration.com.au

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    MMJ PhytoTech Limited (ASX:MMJ) ("MMJ" or "the Company") is pleased to advise that TSX-V listed Harvest One Cannabis Inc. (CVE:HVST) ("Harvest One"), of which MMJ holds 53,333,333 shares, has announced the closure of its C$40,250,000 bought deal offering.

    About Harvest One Cannabis Inc.

    Harvest One Cannabis Inc. (CVE:HVST) controls operations across the entire cannabis value chain through three business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG. Each business is strategically located in favourable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation licence, making Harvest One one of only a few companies globally with the capacity to commercially cultivate cannabis in a federally regulated environment.

    To view the full copy of the Harvest One announcement, please visit:
    http://abnnewswire.net/lnk/GW2ZS6LA

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

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    Altech Chemicals Limited (Altech/the Company) (ASX:ATC) (FRA:A3Y) is pleased to announce that it has executed commitment together with agreed terms and conditions from German government-owned KfW IPEX-Bank formalising the total debt package of US$190 million for its proposed Malaysian high purity alumina (HPA) project.

    Highlights

    - Commitment and terms documentation executed with KfW IPEX-Bank

    - Total debt package US$190 million

    - Export credit cover US$170 million

    - Long tenure and at attractive terms

    US$170 million of the project finance package is covered by the German export credit agency (ECA) with the balance of US$20 million at normal commercial terms. The specific details of the KfW IPEX-Bank loan package including the ECA covered facility are confidential, however as previously announced the ECA covered loan (US$170 million) is at long tenure and highly attractive terms. The balance of US$20 million of borrowing will be a 7-year loan including a 2-year construction period, resulting in a 5-year repayment period and at customary lending terms. By comparison to typical project finance, the project finance agreed with KfW IPEX-Bank is extremely attractive. The final step to finance close is the execution of the facility agreement documentation and the satisfaction of various conditions precedent required before first debt draw-down.

    Project Equity Funding

    The Company has commenced the project equity funding process, which is a condition precedent to debt draw-down. The final required equity component of project funding will be determined as the Company works though the balance of funding options and financing costs. The final funding mix may include subordinated mezzanine finance and/or project level equity participation. Since the KfW IPEX-Bank debt funding was confirmed in late 2017, there is heightened interest in the Company and its HPA project and a number of project funding options have been presented. The Company is also exploring potential project-level joint venture options with several major industrial groups that could result in a major reduction of the equity amount required to fund the project and subordinated mezzanine finance with associated equity.

    The objective is to achieve a robust project funding solution that maximises shareholder returns and minimises dilution.

    Iggy Tan
    Managing Director
    Altech Chemicals Limited
    Tel: +61-8-6168-1555
    Email: info@altechchemicals.com 
    
    Shane Volk
    Company Secretary
    Altech Chemicals Limited
    Tel: +61-8-6168-1555
    Email: info@altechchemicals.com
    
    Investor Relations (Europe)
    Kai Hoffmann
    Soar Financial Partners
    Tel: +49-69-175-548320
    Email: hoffmann@soarfinancial.com

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    DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) ("DroneShield" or the "Company") advised the market that it had won a Paraguay Government tender involving a purchase of a test unit for evaluation by the Paraguyan Ministry of National Defense. The announcement stated that the Company's ability to fulfil the order was subject to approval by the relevant U.S. regulator, and that there were no guarantees that the approval for that particular order would be granted. The Company is pleased to advise that the relevant approval has now been granted.

    For clarity, only some of the Company's potential orders require such approval since sales of some of the Company's products do not require regulatory approval, and sales the Company's restricted products to a number of countries allied with the United States do not require such approval.

    This is the Company's first South American order, and it comes amongst an acceleration in drone-related security accidents in the region, including the recent incidents such as a shut down of the Sao Paolo Congonhas airport in Brazil due to a drone scare, and a drone striking a passenger airliner in Argentina.

    To view figures, please visit:
    http://abnnewswire.net/lnk/438D5G1X

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

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    YPB Group Ltd (ASX:YPB) advises in accordance with Listing Rule 3.10A that the following securities will be released from voluntary escrow on 15 February 2018.

    1,000,000 Fully Paid Ordinary Shares

    All of the above securities were issued to Ralph Davis pursuant to an agreement between Ralph and the Company to payout the balance of his employment contract (approximately 2 years) by the issuance of Shares. Pursuant to the Agreement, 8,000,000 Shares were issued at a deemed price of $0.0533 per Share on 13 September 2017. Subsequent to this release 6,000,000 Shares remain escrowed, with such being released progressively, with the last release due on 12 June 2019.

    No funds were raised as a result of the issue. Approval for the issue of the securities issued was given at a meeting of shareholders held on 27 November 2017.

    Mr. John Houston 
    Executive Chairman
    YPB Group Limited
    T: +61-458-701-088 
    E: john.houston@ypbsystems.com 
    
    Mr. Gerard Eakin
    Director
    YPB Group Limited
    T: +61-427-011-596
    E: eakin@manifestcapital.com
    W: www.ypbsystems.com

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    Prospect Resources Ltd (ASX:PSC) (the "Company") is pleased to announce that it has entered into an option agreement with TSM Enterprises sarl to acquire the Tombolo Klippe Project (PEPM1787).

    - Prospect Resources has secured an option to acquire a 100% direct interest in the Tombolo Klippe project in the Democratic Republic of Congo

    - Option covers an area of 21km2 containing numerous cobalt and copper occurrences

    - Area is underlain by prospective stratigraphy of the Roan Mines Series rocks which host many of the large copper and cobalt deposits of the Katangan Copperbelt

    - First pass geochemical soil sampling has identified two cobalt and two copper anomalies;

    o Best Cobalt anomaly (>22ppm); 1,000m long by 600m.

    o Best Copper anomaly (> 230ppm); 1,400m x 400m.

    The properties are registered as a "Permis d'Exploitation de Petite Mine" ("PEPM" - a small scale mining permit) covering approximately 21 km2 over the Tombolo Klippe in South Eastern DRC (see Figure 1 in link below).

    Exploration work is being undertaken during the option period. The Company, subject to satisfaction of conditions, can acquire the first 50% on or before 7 February 2020. The Company, subject to satisfaction of conditions, can acquire the remaining 50% on or before 12 months from the date when the initial 50% is acquired. The Company has completed the first pass, technical due diligence which has included geological mapping and sampling the results of which are shown below.

    The acquisition of a significant cobalt and copper project fits with the Company's profile in energy metals, Mr. Hugh Warner had the following to say following signing of the option agreement: "Our team has reviewed numerous DRC Cobalt projects over the last 12 months. Without local knowledge, the DRC can be a daunting environment in which to do business. Thankfully our team has that experience, enabling us to navigate the legal, environmental, labour and political processes. We look forward to getting on the ground to begin exploration on Tombolo. Adding cobalt to our lithium deposit is another building block in establishing Prospect and the leading new energy provider in Africa".

    PROJECT OVERVIEW & GEOLOGY

    PEPM1787 is located approximately 25km north of the city of Kolwezi in the Lualaba Province in the southeast of the Democratic Republic of Congo.

    Access to PEPM1787 from Kolwezi is made via one of two improved, all-season laterite roads which approach the east and west edges of the permit, with several bush tracks which cross the central and north portions of the concession, permitting simple access to all areas of the project.

    PEPM1787 covers the eastern half of the Tombolo Klippe (see Figure 2 in link below), an allochthonous (transported) fragment of a normal (right way up) stratigraphic sequence of Roan and Nguba Group rocks resting on younger autochthonous rocks of the Kundelungu Group.

    The Tombolo Klippe forms a shallow syncline with a basal layer of Undifferentiated Roan (Ri) which is known to host mega-breccia fragments of Mines Series (R2) rocks which will form the primary target of Prospect's exploration programmes. The Mines Series is known to host many of the largest copper and cobalt deposits of the Congolese, or Katangan, Copperbelt.

    The Tombolo Klippe has previously been the subject of a number of surficial prospecting programmes which consisted of mapping and trenching but has never been subject to a multi-disciplinary, targeted exploration programme as planned by Prospect Resources. This will investigate known copper and cobalt occurrences on the permit and systematically assess the entire permit area with geochemical sampling programmes, followed by AirCore and Reverse Circulation drilling.

    The geology of the PEPM1787 permit is similar to many nearby cobalt and copper producers, with rocks of the Mines Series, which hosts major deposits such as KOV and Kamoto in Kolwezi - two of the most prolific copper and cobalt producers in the Katangan Copperbelt, and the Nguba Group, which hosts Glencore's Mutanda Mine, one of the world's richest cobalt deposits.

    DUE DILIGENCE PROGRAMME

    The Company has completed a first pass geochemical soil sampling programme covering the entire surface area of PEPM1787. A total of 888 soil samples and 47 duplicate samples were collected on a line/sample spacing of 200 x 100 m. Samples were first dried and then sieved to -75 microns and then analysed using a handheld X-Ray Fluorescence (XRF) instrument for determination of cobalt and copper content.

    Statistical analysis of the soil analytical results suggests an anomalous threshold for cobalt-in-soil of approximately 22 ppm and an anomalous threshold for copper-in-soil of approximately 230 ppm.

    Mapping of the soil sampling analytical results show an area of anomalous cobalt-in-soil values over an area of approximately 1000 m x 600 m in the central area of PEPM1787 (see Figure 5 in link below) and another anomalous cobalt zone of approximately 400 m x 200 m in the south-eastern corner of the permit. Both areas warrant further investigation.

    Copper shows a pronounced anomalous zone of some 1,400 m in length and as great as 400 m in width in the north central area of the permit (see Figure 6 in link below), and a second anomalous zone approximately 700 m in length in the northeast corner of the permit. Both of these zones are planned for further investigation during the next phase of exploration, planned for an immediate start.

    PLANNED FOLLOW-UP EXPLORATION PROGRAMME

    Follow-up work will comprise of detailed geological mapping, trenching and drilling. Pending a successful outcome of this process and exercise of the option, the Company intends to commence with an exploration programme focusing on defining a JORC reportable Mineral Resource and generating material for metallurgical testwork.

    To view figures, please visit:
    http://abnnewswire.net/lnk/IU14W2V6

    Hugh Warner
    Prospect Resources Ltd
    Executive Chairman
    T: +61-413-621-652
    
    Harry Greaves
    Prospect Resources Ltd
    Executive Director
    T: +263-772-144-669
    WWW: www.prospectresources.com.au

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    We recently interviewed Geopacific Resources (ASX:GPR) (OTCMKTS:GPACF) for an update on their Woodlark Gold Project in Papua New Guinea. Topics discussed included.

    - An update on the updated reserve and resource:

    - An update regarding the DFS;

    - The exploration strategy at Woodlark moving forward; and

    - The company's strategy for their Kou Sa Project in Cambodia.

    Analyst comment: This interview highlights that after much work behind the scenes during 2017, Geopacific is close to releasing a string of important announcements, which will lead to a development decision on Woodlark during the second half of 2018.

    The first of these announcement's which will go a long way to shaping the project will be the reserve and resource upgrade, which is due to be released in March.

    To view the video, please visit:
    http://www.abnnewswire.net/press/en/91902/GPR

    Adam Kiley
    Director
    TSI Capital Pty Ltd
    E: adam.kiley@tsicapital.com.au

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    Hastings Technology Metals Ltd (ASX:HAS) ("Hastings" or the "Company") is pleased to announce that, following significant interest from its shareholders and growing base of overseas shareholders, it has decided to restructure the $12 million capital raising announced on 30 January 2018 from a shareholder purchase plan ("SPP") to a non-renounceable rights issue of 1 new Hastings ordinary share for every 17 Hastings ordinary shares held ("Rights Issue").

    - 1 for 17 non-renounceable rights issue to raise approximately $12.2 million (in place of the shares purchase plan)

    - Priced at A$0.31 cents, a discount of 8.3% to 30 days VWAP of A$0.338 cents and fully underwritten by four major shareholders, directors and senior management

    - Participating shareholders including (where permitted to do so) foreign shareholders (in proportion to their holding) will have the opportunity to participate in any shortfall in the rights issue subscription, in conjunction with the underwriters

    This gives shareholders the opportunity to take up shares proportional to their shareholding, i.e. if they participate fully they will not be diluted, and (where permitted to do so) allows shortfall in the rights issue subscription ("shortfall") to be placed to overseas shareholders (outside of Australia and New Zealand) in proportion to their holding; an option that was not available under the SPP.

    The Rights Issue will be at a price of A$0.31 cents per new Hastings ordinary share, the same offer price as the SPP, an 8.3% discount to the 30 days volume weighted average price of Hastings shares traded on the ASX prior to the announcement of the SPP, and is fully underwritten on the same terms as the SPP.

    Charles Lew, Executive Chairman, commented "Hastings has a growing number of overseas shareholders and in 2017 its shareholder base increased by 55%. Following a number of enquiries from those shareholders, the Board has determined it appropriate to restructure the $12m capital raising as a rights issue. This will provide an equitable mechanism for the participation in this share offering opportunity by all shareholders where possible. In 2017, Hastings achieved many milestones on the road to establishing a world-class rare earth production plant, culminating in the publication of the Definitive Feasibility Study in November last year that confirmed compelling economics for the Yangibana project. We anticipate that 2018 will be a pivotal year for the Company as we work towards raising the necessary funding to build the processing plant commencing with early construction work to prepare the Yangibana site, and continue negotiations with European and Asian customers for additional off-take agreements. Hastings is exploring specific and innovative approaches to securing funding for the capex.

    Numerous market trends continue to provide confirmation of a significant shift in the way we travel, generate energy, monitor and control our environment. The focus to reduce fossil-fuel usage is now well established. Many targets have been set globally to electrify transportation and advance renewable energy technology and new materials will be required to meet them. The Nd-Pr to be mined and processed from Yangibana will provide critical components to these electric vehicle and clean energy applications.

    Through this Rights Issue, shareholders will have the opportunity to add to their investment in Hastings as we journey together to build a world class Nd-Pr mine in Australia to produce the critical minerals needed for the manufacture of permanent magnets and used primarily in clean renewable energy and e-mobility. This Rights Issue is underwritten by four major shareholders, directors and senior management."

    Milestones highlights in the Definitive Feasibility Study (DFS) (see Note below) are:

    - Initial operating life of 8 years provides NPV of $466m, IRR of 78% and a payback period of 2.3 years

    - First Probable Reserves estimated at 5.16mt at 1.12% TREO including 0.45% Nd2O3+Pr6O11

    - Latest JORC Resources total 21.00mt at 1.17% TREO including 0.41% Nd2O3+Pr6O11

    - Plan to produce up to 15,000 tons per annum of Mixed Rare Earths Carbonate on site at Yangibana

    - Pre-production capital expenditure of A$335 million and operating costs of A$17.06/kg TREO (US$12.8/kg)

    - Native Title Agreement signed for the entire tenement area of 650sqkm covering all rare earths minerals mined and sold

    The production targets and underlying assumptions have not changed from the date of the release of the DFS on 28 November 2017.

    The strengthening in Neodymium (Nd) and Praseodymium (Pr) prices (+42% and +39% respectively year-on-year) and the signing of three offtake Memorandum of Understanding (MOU) agreements with three Chinese rare earth producers provide further confidence in the successful development of the Yangibana Rare Earths Project.

    China further continued to fuel excitement around the announcement of electric vehicle (EV) developments. Chinese authorities hinted of policy changes in early September 2017, with the intention of banning fossil-fuel vehicles. This follows similar policy announcements made by India, Norway, France and the United Kingdom.

    Vehicle manufacturers also made encouraging announcements regarding EV targets. Volkswagen will spend EUR 20 billion in R & D to develop electric vehicles. VW aims to roll out 80 EVs models across all its brands by 2025.

    Given both policy and manufacturer announcements, the International Energy Agency predicts that by 2030 the stock of EVs on the road globally will total between 160 to 200 million, an almost 100 times increase of the EV stock today. These developments will drive the robust support in demand for Nd and Pr well beyond 2030.

    The Rights Issue is a pro rata non-renounceable offer of up to 39,481,260 fully paid ordinary shares, on the basis of 1 (one) new Hastings ordinary share for every 17 (seventeen) existing Hastings ordinary shares held by eligible shareholders on the record date, at an issue price of $0.31 per share, to raise approximately $12.2 million (before costs).

    In addition to their entitlement, eligible shareholders may also apply for shortfall.

    The Offer is severally underwritten by Equator Capital Management Limited (a company in which Charles Lew, Executive Chairman is a director and shareholder), Fong Kah Kuen, Astaman Aziz and Simon Yim (all being long term shareholders of the Company) for $12 million.

    The Company's directors who have confirmed their intention to participate in the rights issue and agreed to underwrite the balance of the Rights Issue.

    Funds raised under the Rights Issue will be used to fund the following ongoing work on site:

    - Capital costs associated with the development of an access road and the procurement of an accommodation village; and

    - Engineering design and specification work with respect to the mine infrastructure and construction of the processing plant.

    The Rights Issue will be made without disclosure and in reliance of section 708AA of the Corporations Act (as modified by ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84). The Rights Issue timetable is as follows:

    TIMETABLE

    Event: Announcement of Offer, appendix 3B and section 708AA notice
    Date: 2 February 2018

    Event: Ex rights date
    Date: 6 February 2018

    Event: Record date to determine entitlement to new shares
    Date: 7 February 2018

    Event: Dispatch of Offer document and Entitlement and Acceptance Form Opening date for subscription
    Date: 12 February 2018

    Event: Closing date for subscription
    Date: 5.00pm AEST on 26 February 2018

    Event: Securities quoted on deferred settlement basis
    Date: 27 February 2018

    Event: Notify ASX of total subscriptions
    Date: 28 February 2018

    Event: Allotment Date
    Date: 2 March 2018

    Event: Dispatch of holding statements
    Date: 5 March 2018

    These dates are indicative, and the Company, in conjunction with the underwriters and subject to the Corporations Act and the ASX Listing Rules, may vary the above dates.

    Note: See ASX Announcement dated 28 November 2017

    Hastings Technology Metals Ltd
    WWW: www.hastingstechmetals.com
    

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    As foreshadowed in the recent quarterly report, Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) ("Company" or "Central") has contracted with Ensign Australia Pty Ltd to use its presently mothballed Rig 932 for a forthcoming drilling programme of up to four wells. Central has structured the commercial arrangements on the basis that only two wells need to be drilled, for example, Palm Valley and Ooraminna (which permits it holds 100%) with an option of another two wells at Mereenie. Joint Venture approval for the Mereenie wells is subject to ACCC interim clearance of joint marketing with the ACCC still considering the Company's application.

    While the Company would prefer to commence its programme at Mereenie, if there is a further delay in the ACCC deliberation then the first well to be spudded will be at Palm Valley. Under the timetable the first well should be spudded in 6-8 weeks' time with each well taking slightly more than 30 days. The wells at Mereenie will have a deviated lateral of over one kilometre designed to intersect the natural fractures in the sandstone. None of the wells in the drilling campaign are intended to be fracture stimulated.

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

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    Diversified investment company Chapmans Limited (ASX:CHP) ("Chapmans" or "the Company") is pleased to announce an investment in Software-as-a-Service (Saas) company Rision Limited (ASX:RNL) ("Rision") as part of a $1.5 million capital raising arranged by Chapmans.

    Highlights

    - Chapmans is raising $1.5 million to fund Software-as-a-Service Company Rision Limited (ASX:RNL)

    - Chapmans will directly invest $300,000 in Rision Limited (ASX:RNL) giving it 7.2% of Rision

    - Rision has agreed to issue Chapmans with additional shares and options that, if exercised, will make it Rision's largest shareholder with 19.8%

    - Rision has three key platforms all with potentially significant upside

    - The placement funds will be used by Rision as expansion and growth acceleration capital

    - Chapmans will introduce Rision to its vast network of Asia Pacific prospective clients

    - Chapmans will also be appointing a member to the Rision board

    - Chapmans will fund this investment from existing working capital and from the disposal of readily saleable liquid investments

    Details of the Offer

    Chapmans is raising a total of $1.5 million from sophisticated investors to support Rision's growth.

    Rision will issue shares and options utilising its placement capacity available under ASX Listing Rules 7.1 and 7.1A. Whilst elements of the raise are subject to shareholder approval, upon receipt of shareholder approval, the total funds raised will be $1.5 million.

    As part of the raising Chapmans has agreed to make the following direct investment in Rision:

    - a purchase of 80 million shares at $0.00375 totalling $300,000

    and the following, subject to Rision shareholder approval:

    - a short-term loan of $193,200 which will be converted to 64.4 million shares at $0.003 per share;

    - subscribe for 30.6 million shares at $0.003 totalling $91,800; and

    - 175 million options at exercisable at $0.003.

    In addition, parties introduced by Chapmans have agreed to the following:

    - subscribe for 153.873 million shares at $0.003 totalling $461,619;

    - subscribe for 30.6 million shares at $0.00375 totalling $114,750

    and the following, subject to Rision shareholder approval:

    - subscribe for 112.877 million shares at $0.003 totalling $338,631.

    If Chapmans is to exercise all these shares and options, it will become the largest shareholder in Rision with a 19.8% stake in the SaaS company. The extraordinary general meeting (EGM) to approve these measures will be held in March 2018.

    Background

    Rision is a SaaS company with platforms that allow organisations to manage their employees and contingent workers. Rision has three key platforms in its suite of products: RosterCloud; Core Platform; and the custombuilt Bespoke Platform.

    RosterCloud was acquired by Rision in July 2016 and is an active and competitive product in the rostermanagement marketplace. It is currently generating low levels of revenue for Rision but is a highly-marketable product. Proceeds of Chapmans' investment will be used to implement a heightened focus on sales and marketing of RosterCloud.

    Rision's Core Platform has recently completed an upgrade and is now operating at a level suitable for trial use by customers with an ability to convert that trial into revenue. Core Platform has commenced a crucial onboarding feature with a new client in the Australian healthcare sector. Rision is also in discussions to deliver Core Platform to a large business in the U.S hospitality sector in 2018.

    Bespoke Platform is customer built software. Rision secured a trial with England-based company VCL in late 2016 which converted into an executed contract last March. Rision has been working closely with VCL to develop the Bespoke Platform and VCL plans to expand the rollout of the Rision product across additional sites in 2018. Rision is in the process of negotiating the expansion and scope of use of the Bespoke Platform, with discussions anticipated to conclude next month.

    In order to facilitate Rision's growth, Chapmans has agreed to introduce Rision to its vast network of Asia Pacific prospective clients. Chapmans sees Rision as a significant opportunity to engage in its high conviction investment approach to technology company investments.

    Chapmans Chairman Peter Dykes: "We are very pleased to announce our investment in Rision. We believe this investment fits our mandate of identifying technology investments with significant potential. Rision has made promising developments in all three of its key products, with strong growth in the U.K market and potential for expansion into the Asia Pacific healthcare sector and United States hospitality sector."

    Rision CEO Megan Boston: "We welcome this initial investment from Chapmans and look forward to working with Chapmans to rapidly expand the existing business via its vast network of Asian Pacific prospective clients. These placement funds will be extremely valuable as expansion and growth capital for our business. Rision will use the funds for operating expenditure, talent acquisition. content production, marketing and further development of our company's offering."

    Peter Dykes
    Executive Chairman
    Chapmans Limited
    E: peter.dykes@chapmansltd.com
    T: +61-2-9300-3605
    
    Anthony Dunlop
    Executive Director
    Chapmans Limited
    E: anthony.dunlop@chapmansltd.com
    T: +61-2-9300-3605
    
    Media and Investor Enquiries
    The Capital Network
    Julia Maguire, Director
    E: julia@thecapitalnetwork.com.au
    T: +61-419-815-386

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    Anatara Lifesciences (ASX:ANR) has achieved a significant milestone in the United States of America after receiving a "complete" letter from the US Food and Drug Administration (FDA) for the Technical Section of its Human Food Safety (HFS) submission. The HFS is a major component of a New Animal Drug Application (NADA) which is currently underway and is necessary for enabling the marketing of Detach(R) in the US.

    Key points:

    - Significant milestone achieved in the United States with the receipt of a "complete" letter for the technical section of the human food safety submission for Detach(R)

    - Letter confirms that the US Food and Drug Administration is satisfied that food products from animals treated using Detach(R) will be safe for human consumption

    - Human food safety dossier forms one part of the application required to register Detach(R) for sale in the United States; approved ahead of time expectations

    The complete letter confirms that the FDA's Office of New Animal Drug Evaluation, Center for Veterinary Medicine, is satisfied that the human food safety requirements for Detach(R) have been met and that food products from animals treated using Detach(R) are considered safe for human consumption.

    The HFS Technical Section includes an assessment as to whether Detach(R) will contribute to antimicrobial resistance (drug resistance).

    Anatara's Chairman and CEO, Dr Mel Bridges commented, "Safety of edible products from drug-treated, food-producing animals is a critical part of the US drug approval process, so receipt of the complete letter is a core step for the entry of Detach(R) into world markets.

    The efficacy, overall safety and manufacturing information required for the approval of human and animal drugs is very similar, but the safety of a drug targeted at food-producing animals must undergo an additional level of stringent review to ensure that there are no residual safety issues for the human consumer.

    The Human Food Safety section of the registration process can alone take from three to six years to complete, and can represent 50 to 70 percent (or between $5 to $8 million) of expenditure for a new drug (see Note below). The fact that Anatara has achieved an outcome within three years of opening our Investigational New Animal Drug application is an outstanding result and speaks to the strong safety profile we've seen for Detach(R) in our trials.

    Registering Detach(R) in the US will be key to the safe sale of the product in that market for Antara or a commercial partner."

    Note: Committee on Drug Use in Food Animals, Panel on Animal Health, Food Safety, and Public Health, National Research Council, 1999. The Use of Drugs in Food Animals: Benefits and Risks. ISBN: 0-309-52536-5

    Investor inquiries:
    Dr Mel Bridges
    Chairman & CEO, Anatara Lifesciences
    Phone: +61-413-051-600
    Email: mbridges@anatara.com
    
    Media inquiries:
    Jane Lowe
    Managing Director, IR Department
    Phone: +61-411-117-774
    Email: jane.lowe@irdepartment.com.au

    0 0

    Cardinal Resources Limited (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) ("Cardinal" or "the Company") is pleased to announce results of its Preliminary Economic Assessment ("PEA", NI 43-101) / Scoping Study ("SS", JORC 2012) for the Namdini Gold Project ("Namdini") in Ghana, West Africa.

    HIGHLIGHTS

    - The PEA confirms Namdini to be a technically and financially robust low-cost mining opportunity, with potential to generate strong positive cashflows

    - Development is based upon a large, single, open pit with a phase 1 smaller and higher-grade starter pit of circa 1 Moz produced through a conventional SAG mill, Flotation and CIL circuit

    - The PEA evaluated three production throughput rates, 4.5, 7.0 and 9.5Mpta; all resulted in strong returns. The preferred scale of development is to be selected following completion of Feasibility Studies. In addition, consideration is being given to a phased approach to the development of Namdini, commencing with a 4.5mtpa throughput that would be designed for expansion to a higher throughput

    - Dependent upon the eventual production scenario chosen;

    o Average annual gold production ranges from 159,000 ozpa up to 330,000 ozpa

    o All-in sustaining costs range from US$ 701/oz to US$ 794/oz

    o Development capital costs range from US$ 275M to US$ 426M

    o Strip ratio for all scenarios at 1.2:1 waste to ore

    o Potential life of mine for 9.5 Mtpa option of 14 years, 7.0 Mtpa of 19 years and 4.5 Mtpa of 27 years

    - Resource drilling has continued; updated Mineral Resource estimate expected in Q1 2018

    - A 15-year renewable Mining Licence has been granted and has been transferred to Cardinal Namdini Mining Limited, a wholly owned subsidiary of Cardinal

    - Value enhancement opportunities have been identified and will be considered by the technical team as part of the Pre-Feasibility Study that has now commenced. These include:

    o Detailed metallurgical drilling of large diameter core (PQ size) to obtain specific metallurgical samples of oxide, transition and fresh zones within the proposed open pit

    o Definition of a shallow and higher-grade, potential starter open pit

    o Update detailed design and costings of the proposed processing plant

    o Update detailed mining and processing costs based on the new metallurgical data

    Key Study Outputs Include:

    - Dependent upon the eventual production scenario chosen;

    o Average annual gold production ranges from 159,000 ozpa at 4.5 Mtpa up to 330,000 ozpa at 9.5 Mtpa

    o NPV ranges from US$ 706M up to US$ 1,036M pre-tax and US$ 445M up to US$ 649M post-tax

    o IRR ranges from 42% to 62% pre-tax and 31% to 44% post-tax

    o Payback ranges from 4.0 to 3.3 years and

    o All-in sustaining costs range from US$ 701/oz to US$ 794/oz

    - The target Life of Mine pit includes 91Mt @ 1.1 g/t for 3.3 M oz (81%) of Indicated Mineral Resource and 22 Mt @ 1.1 g/t for 0.8 M oz (19%) of Inferred Mineral Resources at a 0.5 g/t cut off using the September 2017 Mineral Resource Estimate data

    - Identification of a higher-grade starter pit yielding >1 Moz gold with a
    - Mineral Resource categories of 81% Indicated and only 19% Inferred within the LOM pit

    - A new conventional gold plant inclusive of flotation and regrind - CIL of the flotation concentrate

    Given that the PEA results in a strongly positive cashflow outcome for all three throughput scenarios considered, further evaluation and trade-offs for improved economies of scale, mine scheduling, plant design and costings which are anticipated to further enhance project economics will be performed under the Pre-Feasibility Study ("PFS") which has commenced.

    Comments from Archie Koimtsidis, Managing Director and Chief Executive Officer:

    "Given the scope of detailed investigations that have been performed leading up to the preparation of the Preliminary Economic Assessment, the outcomes present a strong case on both technical and economic grounds for proceeding to the development of our Namdini Project in Ghana.

    "Highly accredited global firms including Golder Associates, Lycopodium, Knight Piesold and Oreway Mineral Consultants were engaged to perform engineering and cost estimation for this study. They are all well-positioned to assist Cardinal through the next study and development phases of the Namdini Project given their past and recent experience in consulting on successful project developments in West Africa.

    "The Namdini gold deposit has been extensively drilled and the Mineral Resource estimate has been confirmed by various international independent geological and mining engineering consultants.

    "We are continuing with a comprehensive metallurgical programme at ALS in Perth, who are an internationally recognised laboratory, with the intent of optimising the metallurgical process and design criteria for the next phase of studies.

    "We now have a compelling business case to move into the Pre-Feasibility and Definitive Feasibility Study phases. These studies will form the basis for the development of our Namdini Project in Ghana.

    "We have engaged with the local community for over 20 years; they are fully supportive of this project and the development of Namdini. They appreciate the opportunity that Namdini presents to all stakeholders and its importance to the economic development of Northern Ghana."

    FORWARD PLANS AND VALUE ENHANCEMENT OPPORTUNITIES

    From the robust PEA results, the company is continuing to investigate potential improvements in metallurgical recovery, further resource increases concomitant with conversion of Inferred Resources to Indicated Resources and to completion of geotechnical and Tailings Storage Facility studies.

    The company is now at the regrind phase of metallurgical test work following successful grinding and flotation test work which has confirmed earlier testing. The regrind of the concentrates is being conducted at various sizes with the intention of determining the trade- off between recovery and operating requirements. It is anticipated that metallurgical results should become available through the next quarter leading up to the completion of the PFS.

    Company news flow expected for H1 2018 includes:

    - Namdini resource infill drilling results leading to a Mineral Resource update

    - Namdini metallurgical optimisation results

    - Regional exploration and drilling campaign results

    INVESTMENT METRICS

    Based upon Life of Mine production and cost parameters, the key investment metrics of the post-tax Net Present Value cashflow forecasts are presented in Table 3 (see link below). For indicative purposes only, the mid-range throughput of 7.0 Mtpa is presented.

    NAMDINI GLOBAL MINERAL RESOURCES

    Independent mining industry consultant, MPR Geological Consultants Pty Ltd ("MPR") was commissioned by Cardinal to estimate the Mineral Resources of the Namdini deposit. The Mineral Resource estimate was reported in accordance with the 2012 Australian Code for Reporting of Mineral Resources and Ore Reserves (JORC Code) (Refer to Appendix 1 - JORC Table 1 in link below). The Mineral Resource estimate, summarized in the following table (see Table 4 in link below), reports the Resources by category and weathering profile above a 0.5 g/t gold cut-off grade. The classification categories of Inferred and Indicated Resources under the JORC Code (2012) are equivalent to the CIM categories of the same name (CIM, 2014).

    Since the release of the previous Mineral Resource estimate in September 2017, a further 15,600 metres of drilling have been completed. Once all assay data is received for this subsequent drilling, a new Mineral Resource update will be provided, which is expected to be released in Q1 2018.

    Geology

    The Namdini gold deposit is a large, structurally controlled, orogenic gold deposit with numerous features similar to deposits found elsewhere in late Proterozoic Birimian terranes of West Africa. The Namdini gold deposit has so far been delineated over a strike length of 1,150m by 300 m wide and 650m deep and is situated within the Nangodi Greenstone Belt.

    In 2016, geological consultants from Orefind Pty Ltd conducted an on-site structural study and developed a structural framework with controls on, and geometry of, gold mineralization comprising the Namdini deposit.

    Orefind concluded that the rock types comprising the Namdini Project included a steeply west dipping Birimian sequence of interbedded, foliated, metasedimentary and metavolcanic units which have been intruded by a medium-grained granitoid and diorite. The southern part of the Project is covered by flat lying Voltaian Basin clastic sedimentary rocks that have been deposited unconformably on the Birimian sequence and postdate mineralization and the host sequence.

    Underneath the weathering profile, the Birimian units include metasedimentary, metavolcanic, granitoid (tonalite) and diorite. The metasedimentary and volcaniclastic lithologies have been intensely altered with a resulting pyrite-carbonate-muscovite-chlorite-quartz assemblage. Alteration is most prevalent in the volcaniclastic units. Similarly, the tonalite is extensively altered and has been overprinted by silica-sericite-carbonate assemblages.

    In all rock types, the mineralization is accompanied by visible disseminated sulphides of pyrite and very minor arsenopyrite in both the veins and wall rocks. In diamond drill core, the mineralized zones are visually distinctive due to the presence of millimetre to centimetre wide quartz-carbonate veins that are commonly folded and possess yellow-brown sericite-carbonate selvages. Rare visible gold occurs in strongly altered granite and is associated with sub-millimetre wide silica-sericite shears.

    Drilling Techniques

    The input dataset used for the Namdini Mineral Resource estimate comprises a total of 110 HQ diamond core holes and 165 RC drill holes totalling 69,291 m.

    Reverse circulation drilling (5 1/4 inch diameter) was usually 200 m or less in depth. All reverse circulation holes were downhole surveyed at 30 m intervals.

    Diamond drilling was HQ in both weathered and fresh rock. All diamond holes were downhole surveyed at 30 m intervals. All core was orientated.

    Sampling

    All reverse circulation samples were collected at the drill site over 1 m intervals and split using a multi-stage riffle splitter.

    Diamond core was generally sawn in half; with half sent for assaying, and half retained in core trays for future reference. One metre samples were taken and submitted to an independent laboratory for assaying. At the laboratory, both core and reverse circulation samples followed a standard procedure of drying, crushing and grinding. The pulverised samples were thoroughly mixed on a rolling mat ("carpet roll") and then 200 g of subsample was collected. Internal laboratory checks required at least 90% of the pulp passing 75 microns. A 50 g charge was produced for subsequent fire assay analysis.

    Cardinal observed very good recovery of both core and reverse circulation samples and considers the samples to be representative of the mineralization defined by the drilling.

    Sample Analytical Methods

    Cardinal uses two laboratories for its sample submissions, SGS Ouagadougou Laboratory in Burkina Faso and SGS Tarkwa Laboratory in Ghana. The independent SGS commercial geochemical analytical laboratories are officially recognized by the South African National Accreditation System (SANAS) for meeting the requirements of the ISO/IEC 17025 standard for specific registered tests for the Minerals Industry.

    As part of the Cardinal QA/QC, a suite of internationally accredited and certified reference material (standards) and locally sourced blanks were included in the sample submission sequence. The standards cover gold grade ranges expected at Namdini. Interlaboratory umpire analyses were also conducted.

    Certified reference material (blanks and standards) were submitted into the sample stream at a rate of 1 in 22 samples. Duplicate samples of reverse circulation chips were taken at a rate of 1 in 22.

    No employee, officer, director, or associate of Cardinal carried out any sample preparation on samples from the Namdini Project exploration programme. Drill core was transported from the drill site by a Cardinal vehicle to the secure core yard facility at the Bolgatanga Field Exploration Office only.

    All samples collected for assaying are retained in a locked, secure storage facility until they are collected and transported by the SGS laboratory personnel. Retained drill core is securely stored in the core storage facility and pulps and coarse rejects returned from the laboratories are securely stored in the exploration core logging area and at a nearby secure location in Bolgatanga, Ghana.

    Geological and structural modelling

    Logging, interpretation and modelling were undertaken by Cardinal Resources' technical staff using Maxwell Geoservices (Perth) "Logchief" software and specialist structural consultants Orefind Pty Ltd, (Davis and Cowan, 2016-2017) resulting in a three-dimensional model of key lithologies, structures and weathering zones.

    Mining Methods and Parameters

    Trial open pit optimisations were run in Whittle 4X(C) at a US$1,300/oz gold price to define the base of potentially economic material. Four push-back pits were then selected and full mine designs applied.

    The material reported in the Preliminary Economic Assessment is a sub-set of the Mineral Resource which can be extracted from the mine and processed with an economically acceptable outcome.

    No Ore Reserves have yet been declared for the Namdini Project. The Company expects to be in a position to provide a maiden Reserve estimate once it has completed a Pre-Feasibility Study on the Namdini Project.

    PROCESS PLANT

    Annual nominal throughput processing options of 4.5, 7.0 and 9.5 Mtpa were investigated as part of the PEA. An assessment of the comminution circuit identified upper and lower throughput limits as follows:
    - 4.5 Mtpa as the largest throughput that could be accommodated by a jaw crusher

    - 7.0 Mtpa throughput that could be accommodated with dual pinion mill drives

    - 9.5 Mtpa as the largest throughput that could be achieved with dual pinion mill drives

    Flowsheet

    The treatment plant design incorporates the following unit processes:

    - Primary crushing to produce a coarse crushed product

    - Coarse crushed ore storage and reclaim to feed the milling circuit

    - A SABC milling circuit comprising a SAG mill in closed circuit with a pebble crusher and a ball mill in closed circuit with hydro cyclones to produce a grind size of 80% passing 106 microns

    - Gravity concentration and treatment of gravity concentrate by intensive cyanidation and electrowinning

    - Flotation of the milled slurry to recover the majority of gold to a low mass (
    - Separate thickening of the flotation concentrate and flotation tailings to recover cyanide-free flotation water and to thicken the streams prior to downstream processing

    - Regrind of the flotation concentrate prior to feeding the CIL circuit

    - A CIL cyanidation circuit to leach and adsorb gold values from the reground flotation concentrate onto activated carbon

    - A split AARL elution circuit, electrowinning and gold smelting to recover gold from the loaded carbon to produce gold doré bars

    - A SO2 / oxygen cyanide destruction circuit to reduce the CIL tailings cyanide concentration to below the maximum International Cyanide Management Code (ICMC) weak acid dissociable cyanide (CNWAD) limits for containment

    - Parallel pumping of the cyanide destruction discharge and the thickened flotation tailings to the separate cyanide and non-cyanide tailings storage facilities (TSF)

    FUNDING

    Cardinal will utilize a staged funding approach for the ongoing development of the Namdini project.

    Cardinal has budgeted for the Pre-Feasibility Study out of its existing cash balance.

    The Board believes that there are strong "reasonable grounds" to assume that future funding will be available to fund Cardinal's pre-production capital for the development of Namdini as envisaged in this announcement, on the following basis;

    (a) Cardinal's Board has a financial track record and experience in developing projects.

    Non-Executive Charmain Kevin Tomlinson, possesses over 30 years' experience in Mining and Finance within Toronto, Australian and London Stock markets. Mr Tomlinson has extensive experience in development and financing of mining projects internationally.

    Non-Executive Director Jacques McMullen has had a distinguished 35-year career in the mining industry of which the last 17 years were with Barrick Gold Corporation where he held the positions of Senior VP Special Projects and Technical Services. In his role as Senior VP of Barrick, Jacques was instrumental in the development of many mines including Goldstrike, Veladero, Lagunas Norte, Cowal and Bulyanhulu. His experience includes all phases of development including feasibility, construction, commissioning, ramp-up and operation's optimization.

    (b) Cardinal is confident there is a strong possibility that it will continue to increase mineral resources at the project to extend the mine life beyond what is currently assumed in the PEA.

    (c) The gold price is currently trading at approximately US$1,350/oz which compares favourably to the project's base case assumption of US$1,300/oz. The recent improvement in market conditions and an encouraging outlook for the gold market enhances the Company's view of the ability to finance the Namdini project.

    (d) The strong production and economic outcomes delivered in the Namdini PEA are considered by the Cardinal Board to be sufficiently robust to provide confidence in the Company's ability to fund its preproduction capital through conventional debt and equity financing.

    Cardinal is in early stage discussions with a number of banks and substantial mining investment funds with a view to fund Namdini in stages to production. These financiers have extensive track records of funding similar stage companies through the PFS and DFS stages, construction financing and into commercial production.

    To view the full release with tables and figures, please visit:
    http://abnnewswire.net/lnk/0SD27PV4

    Archie Koimtsidis
    CEO / MD
    Cardinal Resources Limited
    P: +61-8-6558-0573
    
    Alec Rowlands
    IR / Corp Dev
    Cardinal Resources Limited
    P: +1-647-256-1922

    0 0

    On 2nd February 2018 Hastings Technology Metals Limited (ASX:HAS) (Company) announced a fully underwritten non-renounceable pro rata offer to shareholders with a registered address in Australia or New Zealand (Eligible Shareholders) of 1 fully paid ordinary share for every 17 existing shares held as at 7:00pm (AEST) on 7th February 2018 (Record Date), at an issue price of $0.31 per new share (Rights Issue) to raise approximately $12.2 million (before costs). Attached is the Company's announcement to ASX (see link below).

    The Company has decided that it is unreasonable to make offers under the Rights Issue to shareholders with a registered address outside Australia or New Zealand (Ineligible Shareholders), having regard to the number of such shareholders, their holdings and the compliance costs required to offer the Shares under the Rights Issue to those shareholders.

    Unfortunately, since you are an Ineligible Shareholder, no offer is being made to you and the offer document prepared by the Company in relation to the Rights Issue will not be sent to you. However, the Company and underwriters have agreed, where it is lawful to do so, to place shortfall shares firstly with those Ineligible Shareholders who wish to acquire new shares up to a limit of one (1) share for every seventeen (17) Hastings ordinary shares held on the Record Date.

    Should you wish to acquire further shares out of the shortfall, please contact the Company Secretary as follows:

    Guy Robertson - guy.robertson@hastingstechmetals.com or telephone +61 2 9078 7674 or +61 407 983 270.

    This letter is neither an offer to issue new shares to you, nor an invitation for you to apply for new shares, and any issue of new shares to you must comply with all applicable laws.

    You do not have to take any further action in relation to the Rights Issue in the event you do not wish to subscribe for shortfall shares.

    To view the full release, please visit:
    http://abnnewswire.net/lnk/60H79TXN

    Hastings Technology Metals Ltd
    WWW: www.hastingstechmetals.com
    Email: info@hastingstechmetals.com

    0 0

    On 2nd February 2018 Hastings Technology Metals Limited (ASX:HAS) (Company) announced a fully underwritten non-renounceable pro rata offer to shareholders with a registered address in Australia or New Zealand (Eligible Shareholders) of 1 fully paid ordinary share for every 17 existing shares held as at 7:00pm (AEST) on 7th February 2018 (Record Date), at an issue price of $0.31 per new share (Rights Issue) to raise approximately $12.2 million (before costs).

    - FULLY UNDERWRITTEN NON-RENOUNCEABLE $12.2M RIGHTS ISSUE

    - FUNDS RAISED WILL PROGRESS DEVELOPMENT OF HASTING'S WORLD CLASS RARE EARTHS MINE

    The Rights Issue will be at a price of A$0.31 cents per new Hastings ordinary share, an 8.3% discount to the 30 days volume weighted average price of Hastings shares traded on the ASX prior to announcing the Rights Issue.

    Charles Lew, Executive Chairman, commented "In 2017 Hastings achieved many milestones on the road to establishing a world-class rare earth production plant, culminating in the publication of the Definitive Feasibility Study in November last year that confirmed compelling economics for the Yangibana project. We anticipate that 2018 will be a pivotal year for the Company as we work towards raising the necessary funding to build the processing plant commencing with early construction work to prepare the Yangibana site and continue negotiations with European and Asian customers for additional off-take agreements. In addition, Hastings is exploring specific and innovative approaches to securing funding for the capex.

    Numerous market trends continue to provide confirmation of a significant shift in the way we travel, generate energy, monitor and control our environment. The focus to reduce fossil-fuel usage is now well established. Many targets have been set globally to electrify transportation and advance renewable energy technology and new materials will be required to meet them. The Nd-Pr to be mined and processed from Yangibana will provide critical components to these electric vehicle and clean energy applications.

    Through this Rights Issue, shareholders will have the opportunity to add to their investment in Hastings as we journey together to build a world class Nd-Pr mine in Australia to produce the critical minerals needed for the manufacture of permanent magnets and used primarily in clean renewable energy and e-mobility. This Rights Issue is underwritten by four major shareholders, directors and senior management."
    Milestones highlights in the Definitive Feasibility Study (DFS) are:

    - Initial operating life of 8 years provides NPV of $466m, IRR of 78% and a payback period of 2.3 years

    - First Probable Reserves estimated at 5.16mt at 1.12% TREO including 0.45% Nd2O3+Pr6O11

    - Latest JORC Resources total 21.00mt at 1.17% TREO including 0.41% Nd2O3+Pr6O11

    - Plan to produce up to 15,000 tons per annum of Mixed Rare Earths Carbonate on site at Yangibana

    - Pre-production capital expenditure of A$335 million and operating costs of A$17.06/kg TREO (US$12.8/kg)

    - Native Title Agreement signed for the entire tenement area of 650sqkm covering all rare earths minerals mined and sold

    The production targets and underlying assumptions have not changed from the date of release of the DFS on 28th November 2017.

    The strengthening in Neodymium (Nd) and Praseodymium (Pr) prices (+42% and +39% respectively year-on-year) and the signing of three offtake Memorandum of Understanding (MOU) agreements with three Chinese rare earth producers provide further confidence in the successful development of the Yangibana Rare Earths Project.

    China further continued to fuel excitement around the announcement of electric vehicle (EV) developments. Chinese authorities hinted of policy changes in early September 2017, with the intention of banning fossil-fuel vehicles. This follows similar policy announcements made by India, Norway, France and the United Kingdom.

    Vehicle manufacturers also made encouraging announcements regarding EV targets. Volkswagen will spend EUR 20 billion in R & D to develop eEVs. VW aims to roll out 80 EVs models across all its brands by 2025.

    Given both policy and manufacturer announcements, the International Energy Agency predicts that by 2030 the stock of EVs on the road globally will total between 160 to 200 million, an almost 100 times increase of the EV stock today. These developments will drive the robust support in demand for Nd and Pr well beyond 2030.

    Funds raised under the Rights Issue will be used to progress development of the Company's Yangibana Rare Earths Project, including:

    - Capital costs associated with the development of an access road and the procurement of an accommodation village; and

    - Engineering design and specification work with respect to the mine infrastructure and construction of the processing plant.

    The Rights Issue is severally underwritten by Equator Capital Management Limited (a company in which Charles Lew, Executive Chairman is a director and shareholder), Fong Kah Kuen, Astaman Aziz and Simon Yim (all being long term shareholders of the Company) for $12 million. The Company's directors who have confirmed their intention to participate in the rights issue and agreed to underwrite the balance of the Rights Issue. The underwriters other than related parties will be paid a 5% underwriting fee.

    The Company expects the Rights Issue to be conducted in accordance with the following timetable:

    Event: Announcement of Offer, appendix 3B and section 708AA notice
    Date: 2 February 2018

    Event: Ex rights date
    Date: 6 February 2018

    Event: Record date to determine entitlement to new shares
    Date: 7 February 2018
    Event: Dispatch of Offer document and Entitlement and Acceptance Form Opening date for subscription
    Date: 12 February 2018

    Event: Closing date for subscription
    Date: 5.00pm AEST on 26 February 2018

    Event: Securities quoted on deferred settlement basis
    Date: 27 February 2018

    Event: Notify ASX of total subscriptions
    Date: 28 February 2018

    Event: Allotment Date
    Date: 2 March 2018

    Event: Dispatch of holding statements
    Date: 5 March 2018

    These dates are indicative, and the Company, in conjunction with the underwriters and subject to the Corporations Act and the ASX Listing Rules, may vary the above dates.

    The new shares issued pursuant to the Rights Issue will rank equally with existing fully paid ordinary shares in the Company. Application has been made for the quotation of the new shares. The Rights Issue will be made without disclosure and in reliance of section 708AA of the Corporations Act (as modified by ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84). Eligible Shareholders may also apply for additional new shares in excess of their entitlement. Foreign ineligible shareholders may, where it is lawful to do so, also apply for shares equal to their entitlement.

    The capital structure of the Company before and after completion of the Rights Issue is set out below:

    Securities on issue at the date of the announcement of the Rights Issue
    Shares: 671,181,415

    Securities offered under this Rights Issue
    Shares: 39,481,260

    Total securities on issue following Rights Issue
    Shares: 710,662,675

    Should you have any questions regarding the Rights Issue you may contact the Company on +61 9078 7674 or guy.robertson@hastingstechmetals.com, or consult your stockbroker or professional adviser.

    A copy of the Company's announcements may be viewed on the ASX Limited website at www.asx.com.au, or alternatively at the Company's website at www.hastingstechmetals.com.

    We look forward to your participation in the Rights Issue.

    Hastings Technology Metals Ltd
    WWW: www.hastingstechmetals.com
    Email: info@hastingstechmetals.com

    0 0

    Speedcast International Limited (ASX:SDA), the world's most trusted provider of remote communication and IT solutions, today announced it has secured a 10-year contract with Australian government-owned infrastructure provider NBN Co Limited to deliver enterprise-grade satellite services. Speedcast's wholly-owned subsidiary and dedicated entity, Speedcast Managed Services, will partner with NBN Co to design, build and manage NBN Co's enterprise satellite services. The value of the base network build and managed services project is AU$107 million and with other demand-driven services the aggregate revenue is expected to be up to AU$184 million in total.

    This new contract will be a transformational project for Speedcast in Australia. Speedcast will leverage its experience as Australia's largest provider of enterprise-grade satellite services to build and operate, in support of NBN Co, a unique suite of satellite services targeted at enterprise and government customers in Australia. To deliver on its mission, Speedcast will set up a new office with world class specialists in Melbourne to support NBN Co. The services provided by Speedcast will complement NBN Co's consumer satellite service and will serve to increase the availability of enterprise-grade cost-effective communications solutions for Australian businesses.

    "We are honored and grateful to have been chosen for such an important program and we are excited to play a part in expanding the communication services available in Australia. This contract is another huge success for Speedcast in our efforts to provide next-generation communications solutions to our clients and partners around the world," said Pierre-Jean Beylier, CEO, Speedcast. "I thank NBN Co for their trust in Speedcast's ability to deliver reliable communications services enabling mission-critical applications that enterprise and government customers rely on; something we are passionate about and have been doing very successfully in Australia for many years as well as in over 100 countries around the world."

    As the largest provider of satellite communication services to enterprises in Australia and globally, Speedcast boasts a range of services, technical capabilities and service levels that are second to none in the industry. The innovative solutions and ideas that Speedcast brings will help NBN Co support its mission and provide enterprise customers in Australia with an industry-leading connectivity service.

    The time required to finalise this material contract means that the contribution previously forecasted to be recognised in 2017 will now be realised in 2018.

    Public Relations and Marketing:
    
    Toni Lee Rudnicki
    Vice President, Global Marketing
    Speedcast International Ltd
    E: tonilee.rudnicki@speedcast.com
    T: +1-832-668-2634
    
    Investors:
    
    Ian Baldwin
    Chief Financial Officer
    Speedcast International Ltd
    E: investor_relations@Speedcast.com
    T: +61-2-9531-7555

    0 0

    Following on from its recent announcements regarding the recommencement of resource drilling at the high-grade BP33 and Grants Prospects, Core Exploration Ltd (ASX:CXO) ("Core" or the "Company") is pleased to announce that, it has now received high grade lithium assay results from Reverse Circulation (RC) drilling that took place on adjoining tenement EL30015 (Bynoe Project) in December 2017.

    HIGHLIGHTS

    - Acquisition of the Bynoe Lithium Project is continuing to deliver immediate positive results for Core, with high-grade Lithium drill assays received from all four historic pegmatite mines in Core's first drilling on the newly acquired EL30015, including:

    o 10m @ 1.6% Li2O from 83m in NRC006 at Carlton prospect

    o 5m @ 2.2% Li2O from 70m in NRC004 at Hang Gong prospect

    o Including 1m @ 3.0 % Li2O from 70m in NRC004

    - Drilling data from RC and RAB at the Hang Gong, Booths and Lees prospects indicates multiple, shallow dipping, and high grade spodumene pegmatites

    - Multiple, shallow dipping pegmatites up to 20m true width provide alternate open pit mining scenarios at the Finniss Project

    - All prospects drilled have grades greater than 1.0 % Li2O and are open down-dip and along strike

    - Newly drilled spodumene pegmatites are located within 5km of the Grants Lithium Deposit

    - Hang Gong is within granted Mining Lease ML16 and Carlton is within the Grants ML Application

    - Core will commence follow up drilling of these prospects as soon as dry season starts

    The recent acquisition of the Bynoe Lithium Project is continuing to deliver immediate positive results for Core. These high-grade lithium intersections are very significant, and our first drilling demonstrates the strong potential for Hang Gong and other historic prospects.

    A stand-alone RC drilling campaign was carried out during December at Hang Gong, Lees, Carlton and Booths Prospects, all within the Company's newly acquired Bynoe Lithium Project near Darwin, and importantly, very close to Core's planned development of the Grant's deposit, located approximately 5kms away. The RC program was designed to investigate preliminary low-grade results obtained by the previous owner.

    Core's new assay results indicate an improved grade, within spodumene pegmatites up to 20m true width, the higher grades intercepted by Core's drilling are the result of successful targeting of drill holes to intercept the pegmatites below the effects of surficial weathering.

    Core's drilling has demonstrated that the pegmatites at three of these prospects (Hang Gong, Booth and Lees) comprise multiple pegmatites bodies that dip at a shallow angle.

    New assay results include:

    - 10m @ 1.6% Li2O from 83m in NRC006 at Carlton prospect

    - 5m @ 2.2% Li2O from 70m in NRC004 at Hang Gong prospect

    - 4m @ 1.4% Li2O from 72m in NRC008 at Lees prospect

    - 3m @ 1.6% Li2O from 87m in NRC011 at Booths prospect

    A similar high grade of mineralised intervals was observed across all four spodumene rich pegmatite prospects (approx. 1.5% Li2O at a 0.4% Li2O cutoff is consistent with the Grants Deposit). In addition, individual metre-width grades of >2% Li2O have been recognised at all four prospects, and the maximum metre-width grade being 3.0% Li2O (from 70m in NRC004 at Hang Gong).

    Core also undertook a targeted shallow Rotary Airblast (RAB) drilling program at these prospects, the results of which are still being assessed, but the geological data has proven invaluable in the interpretation of pegmatite geometry and fine-tuning of the RC drill plan. For example, it has enabled the subsurface extrapolation of pegmatite bodies from surface workings to more distant, deeper drilling intersections.

    Based on these result, Core is planning to drill further down-dip with the aim of defining larger footprint pegmatites that have robust mining attributes.

    Commenting on drilling at Bynoe, Core's Managing Director, Stephen Biggins said:

    "The acquisition of the Bynoe Lithium Project is continuing to deliver immediate positive results for Core. These high-grade lithium intersections are very significant and our first drilling demonstrates the potential of Hang Gong and other historic prospects.

    The success of these results has given us the encouragement to drill further down-dip with the aim of defining larger footprint pegmatites with robust mining attributes."

    Hang Gong

    The successful drilling by Core supports the interpretation that Hang Gong most likely comprises a series of shallow dipping pegmatites containing grades up to 3.0% Li2O.

    Hang Gong is historically the largest historic pegmatite mine in the area and several pegmatite bodies up to 20m true width and dipping at less than 30 degrees have now been identified by Core's drilling at Hang Gong (see Figure HG1 in link below).

    Although the recent RAB drilling pattern suggested a large and consistent pegmatite footprint, which has never been tested by deep drilling, Core is encouraged by the results which suggest a branching high-grade spodumene pegmatite with a down-dip extent of at least 200m (4m @ 1.7% Li2O from 58m & 4m @ 1.1% Li2O from 81m in NRC001) (see Figure HG1 in link below).

    Other adjacent and subparallel RAB-defined sheets have yet to be followed up and could be part of a stacked set.

    Lees

    Lees Prospect comprises a set of at least three parallel, approx. 10m true width, consistent pegmatite bodies, striking WNW and dipping at approximately 45 degrees to the NNE (interpreted as an en-echelon tension gash set).

    Core drilled two RC holes following up the 3 drilled by the previous owners in 2016. The Company also undertook a targeted RAB program to define the geometry of the two other sheets to the south. The geometry of shallow-dipping multiple stacked pegmatites was confirmed by this drilling (see Figures LE1 and LE2 in link below).

    The intersections of the northern sheet (Lees proper) include 4m @ 1.4% Li2O from 72m in NRC008 and 9m @0.9% Li2O from 97m in NRC007. Individual metre-grades encountered are up to 2.5% Li2O, despite the effects of surface weathering in some of the samples. In addition, the exposed pegmatite in the historic pits are clay-rich with uniformly-distributed relict spodumene, and have sharp country-rock contacts, similar to Grants and BP33. This supports the concept that they are potentially strongly mineralised over significant intervals down-dip in the fresh zone.

    The southern pegmatites appear thicker based on the exposures in historic pits (see Figure LE3 in link below) and from RAB- drilling, but their grade has yet to be confirmed. None of the Lees prospects have been tested along strike or down plunge.

    Core is planning follow-up RC drilling to test the down plunge potential at Lees (Fig LE1).

    Carlton

    The Carlton historic pit is over 200m long and up to 20m wide, dipping at a steep angle to the east (see Figure CA1 in link below), similar in many respects to Grants and BP33.

    Drilling by previous owners in 2017 intersected low-grade weathered pegmatite over a width of up to 16m (LTR LBRC071). However, analysis of the drill logs in 3D suggested that two of the three holes drilled at the time were terminated too shallow (see Figure CA1 in link below).

    Core's recent follow up drilling showed that the body contains high-grade spodumene pegmatite (10m @ 1.6% Li2O from 83m in NRC006). Narrower and lower grade intervals appear to be the result of drilling through the pegmatite in the weathered zone. Core has not yet tested down-dip or along the strike extent of this pegmatite, which appears to plunge to the north under cover.

    Booths

    The historically-mined Booths Prospect consists of two parallel pegmatites up to 20m wide in pit exposures and 160m in strike length. At the time drilling by previous owners in 2016 was hindered by issues, largely caused by the clay-rich nature of the pegmatite in the subsurface.

    Core drilled RC holes to intersect the pegmatite at a deeper level in fresh rock which returned some wide pegmatite intervals up to 15m pegmatite in aggregate.

    Exposed pegmatite in the historic pit at Booths (see Figure B1 in link below) shows ubiquitous weathered spodumene in the pegmatite right up the contacts with surrounding phyllite wall rock of the Burrell Creek Formation. Higher grades of lithium including 3m at 1.6% Li2O (from 87m in NRC0011) that were intersected in fresh zones of the pegmatites at depth are consistent with relict spodumene at surface, but weathering (and lithium related depletion) was deeper at Booths than other prospects.

    The presence of two 15m-thick, closely-spaced, shallow-dipping, high-grade pegmatites at Booths is attractive as there is little historic evidence that strike extensions of these bodies have been tested, as mining was focused solely on what was exposed at surface.

    Next Steps at Bynoe Project

    The four pegmatite prospects outlined above have compelling characteristics - 5m-15m true width, consistent geometry, shallow dip (
    The newly drilled prospects will be followed up by RC and RAB drilling, both down-dip and along strike, as soon as access is possible following the wet season.

    Core has shown that it can move rapidly from first drill discovery to a JORC resource in as little as 6 months.

    It is important to note that the Hang Gong targets are largely contained within a granted Mining Lease and lie within 200m of the bitumen Cox Peninsula Road. The Carlton target is located within the Grants ML application close to the Grants Lithium Resource.

    The RAB drilling data has yet to be fully modelled in 3D and Core is confident this will generate further leads in EL30015 and adjacent EL29698.

    To view tables and figures, please visit:
    http://abnnewswire.net/lnk/44C42X0D

    Stephen Biggins
    Managing Director
    Core Exploration Ltd
    T: +61-8-7324-2987
    E: info@coreexploration.com.au

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    Diversified minerals explorer and developer Ardiden Limited (ASX:ADV) is pleased to advise that it has completed a A$2.25 million share placement to sophisticated and institutional investors in Australia and internationally (the "Placement") to fund ongoing resource drilling and exploration programs at its flagship Seymour Lake Lithium Project and due diligence exploration drilling program at the Pickle Lake Gold Project, both located in Ontario Canada.

    HIGHLIGHTS:

    - $2,250,000 raised through an oversubscribed share placement to key sophisticated and institutional investors in Australia and internationally.

    - Funds will assist Ardiden to continue the rapid development the Seymour Lake Lithium Project with further resource expansion drilling and exploration programs with preparations already underway to commence the drill program at Central and South Aubry Prospects in the coming days.

    - Due diligence drill program planned for Pickle Lake Gold Project, seeking to validate the historic drill data and the very impressive gold grades previously identified on the project.

    The Placement, comprising of 125 million shares at an issue price of A$0.018 per share, was strongly supported with significant oversubscriptions received. Ardiden was very pleased with the high level of investor demand for the Placement. The Placement will be issued under the Company's existing LR7.1 15% capacity.

    As a result of this Placement, Ardiden is now funded to continue with the resource exploration and expansion drilling program at the Seymour Lake Lithium Project. Particular focus will be made on the lithium mineralised pegmatite extensions to the Central and South Aubry prospect areas, where it has already confirmed the potential for multiple high-grade spodumene-bearing pegmatite zones that express at or near surface.

    Further, the Placement allows Ardiden to undertake the Due Diligence exploration and drilling program at the Pickle Lake Gold Project, seeking to validate the historic drill data to confirm the overall project potential to host multiple large gold mineralisation zones. Additionally, this program will assist Ardiden to meet the expenditure requirements in order to acquire 100% ownership of the project from the vendors. The remaining funds will be used for general working capital.

    An Appendix 3B New Issues Announcement and a Cleansing Statement will be released to the market in due course. The Company looks forward to providing further exploration updates as they come to hand.

    SEYMOUR LAKE: CENTRAL AND SOUTH AUBRY PROSPECT EXTENSIONS

    Preparations are already underway at the Seymour Lake Lithium project to commence the 2018 exploration and expansion drilling program. Ardiden expects to have the geological team and drill rig on site within the coming days.

    The drilling program will initially focus on the lithium mineralised pegmatite extensions to the Central and South Aubry prospect areas, where it has already confirmed the potential for multiple high-grade spodumene-bearing pegmatite zones, that are evident at or near surface on the western edge of the ridge line.

    A detailed geological and technical review of the all the drilling results, combined with the mapping and historic geochemical analysis of soil samples, has identified a number of high priority target areas at and around the Aubry prospects.

    Figure 1 (see link below) shows the historic geochemical analysis for lithium obtained from numerous soil samples previously collected by Stockport Exploration in 2008. These results, analysed in conjunction with a better understanding of the drilling data, topography, the underlying geological structures and the complexity of LCT Complex spodumene pegmatites, indicate the potential for numerous zones containing lithium mineralisation on and around the known pegmatite exposures at North, Central, South Aubry and Pye prospects.

    Mapping and drilling programs have already verified that the Aubry and Pye prospects contained very high-grade spodumene bearing pegmatites.

    However, Ardiden notes that some of the highly prospective areas with the largest and strongest lithium anomalous zones, highlighted in Figure 1 (see link below), appear to be outside the current North, Central, South Aubry and Pye prospects and are yet to be fully explored and drill tested.

    The upcoming drilling program will initially focus on drill testing the northern and southern extensions of the known pegmatites structure contained at South Aubry and how they relate to the numerous pegmatites exposures identified along the western ridge to the North and South of that location.

    Figure 2 (see link below) shows the topography of the North, Central and South Aubry prospects highlighted with red, which has an overlay of the soil geochemical analysis identified areas of interest for further exploration. The pink stars indicate the location of multiple pegmatite exposures, the black lines show a number of interpreted faults and controlling structures.

    These controlling structures help to explain the pegmatite formations identified during previous drilling and the potential extensions of those pegmatite structures contained at Central and South Aubry are identified with the blue dash lines above (see link below).

    These new anomalous zones are highly encouraging and provide Ardiden further potential to expand the Mineral Resource at Seymour Lake, providing strong support for the Company's fast-track development strategy, including its objective of exercising the Term Sheet with its Chinese development partner, Yantai.

    PICKLE LAKE: DUE DILIGENCE EXPLORATION DRILLING

    Planning and preparation is now underway to commence the initial due diligence drilling program at the Pickle Lake Gold Project, which was optioned by Ardiden last year (announced 2 August 2017) to acquire 100% from the vendors.

    The drill program will look to validate the historic drill data and seek to confirm the very impressive gold grades previously identified on the project.

    Ardiden expects to have the drill rig and geological teams on site in the coming weeks and looks forward to providing further updates as they come to hand.

    To view figures, please visit:
    http://abnnewswire.net/lnk/9QPML1Y7

    Investors:
    Brad Boyle
    Ardiden Ltd 
    Tel: +61-8-6555-2950 
    
    Media:
    Citadel-Magnus
    Michael Weir / Cameron Gilenko
    Tel: +61-8-6160-4900

    0 0

    Mustang Resources Ltd (ASX:MUS) (OTCMKTS:GGPLF) is pleased to announce it has completed the diamond drilling campaign which will underpin the concept study on its 80%-owned Caula Graphite Project in Mozambique.

    Key Points

    - 11 further diamond drill holes completed as part of the current Concept Study on the Caula Graphite Project in Mozambique

    - Concept Study infill and resource extension drilling campaign also aimed at further upgrading current JORC resource of 5.4Mt at 13% Total Graphitic Carbon (TGC) for 702,600 tonnes of contained graphite

    - Wide graphite intersections in all 11 diamond holes drilled including:

    o 86m from 57m to 143m downhole in MODD 014

    o 68m from 44m to 112m downhole in MODD 018

    o 62m from 6m to 68m downhole in MODD 019

    o 59m from 5m to 64m downhole in MODD 032

    o 55m from 35m to 90m downhole in MODD 031

    - Previous diamond drilling at Caula returned spectacular grades up to 26% TGC with wide zones averaging more than 15% TGC

    - Samples are being sent for assaying and metallurgical testwork

    - Concept Study scheduled for completion in Q2 2018 followed by commencement of Definitive Feasibility Study (DFS).

    The concept study is on track for completion in Q2 this year, which will in turn pave the way for Mustang to commence the Definitive Feasibility Study.

    This latest infill and extension drilling, comprising 11 holes for 1421m, is aimed at increasing and upgrading the existing Inferred JORC Compliant Mineral Resource, which stands at 5.4Mt (at a 6% cut-off grade) at 13% TGC for 702,600 tonnes of contained graphite, including exceptionally high-grade components of up to 26% TGC.

    Mustang Resources Managing Director Bernard Olivier said the latest drilling program had further enhanced the Company's confidence in the project and the continuity of the defined graphite mineralisation.

    "The drilling continues to demonstrate that Caula is emerging as a world-class graphite deposit," Dr Olivier said.

    "In light of what we have observed, we are eagerly awaiting the assay and metallurgical testwork results, which will all form part of the project's Concept Study.

    "Pending the results of the Concept Study, Mustang is committed to fast-tracking the development of Caula by commencing the DFS phase of resource drilling in Q2 2018."

    Caula Infill Diamond Drilling, December 2017

    The December 2017 diamond drilling campaign was designed as resource infill and extension drilling and forms part of the Concept Study being developed for the Caula Project. Eleven holes as were completed mid-December 2017 by Major Drilling Group International totalling 1,421.5m (MODD14 to MODD22 and MODD030 to MODD032) with detailed geological logging undertaken by Mustang's geologists and Competent Person. Cutting and sampling of 10 of the 11 cored boreholes was completed in December, with the remaining hole completed in mid-January.

    This drilling was designed to provide representative samples for further detailed metallurgical testwork and with the goal of increasing the initial Inferred JORC Compliant Resource's size and confidence levels. Thereafter, Mustang intends to commission feasibility studies for detailed planning of the next phases of development.

    Major Graphite Intervals

    Major graphite intervals (visually logged, subject to assay confirmations, see Appendix 1 in link below) include 86 metres of graphite mineralisation from 57 metres to 143 metres depth (MODD 014), 68 metres of graphite mineralisation from 43 metres to 112 metres depth (MODD 018) and 62 metres of graphite mineralisation from 6 metres to 68 metres depth in MODD 019. Oxidised graphite mineralisation is found within 16 metres from surface transitioning to a fresh graphite zone (typically) at 53m vertical depth and extending beyond the end of hole depths.

    Project Area Potential

    The Caula Project is located within a world-class graphite province and as previously indicated there is significant potential to expand the maiden Mineral Resource estimate through ongoing exploration and drilling.

    The results of the completed diamond drilling campaign are expected to expand the current JORC resource and provided insight into the down-dip and eastern extensions of the Caula deposit and further enhance confidence in the continuity of the defined mineralisation.

    Broad zones of mineralisation were identified during the original sampling program. The lithological logging has indicated an extension of mineralisation eastwards.

    The Caula discovery is located at the northern end of a suite of large-scale geophysical (TEM) anomalies that extend over an 18km strike length within Mustang's tenements (see Figure 5 in link below). Drilling at the Caula site confirms a strong spatial correlation between the TEM anomaly and high grade graphite mineralisation in drillhole intersections. The larger-scale TEM anomaly has received minimal drilling to date and therefore remains largely untested.

    The planned 2018 DFS drilling program for the Caula Deposit will consist of both DD and RC holes targeting Inferred, Indicated and Measured Resources. Drilling of the strongest anomalies south of Caula will also be carried out to confirm the continuation of the graphite mineralisation.

    Mustang proposes to systematically drill-test the large-scale TEM target through progressive step-out drilling from the Caula discovery.

    Geology of the Caula Graphite Deposit

    The Caula deposit, is located in northern Mozambique, approximately 230km west of the coastal capital city of Pemba and is situated within Prospecting & Exploration Licence 6678L. Topographically, the Caula site is very flat with a slight gradient downslope to the north-east. There are no drainage lines for a radius of at least 2km around the project centre.

    The project area is situated in the Mozambique Belt of the East African Orogen and contains highly metamorphosed meta-sediments and meta-volcanics.

    Graphite mineralisation at Caula is hosted in quartzitic schists of the Xixano Complex. The most common lithologies include graphitic schists, gneisses and thin pegmatoidal zones. Sulphides are occasionally observed but are usually absent.

    The mineralised zone is contained within a reclined isoclinal fold structure which dips at roughly 60 degrees to the west. Due to the region's tectonic history these meta-sediments have been altered to the extent that no sedimentary structure remains.

    Mustang Resources has been actively exploring for graphite on the licence area since 2014. Initial field work and satellite imagery were used to identify potential areas of mineralisation aligned with potential strike extensions to graphite mineralisation at the Triton Minerals Nicanda Hills Project to the south.

    To view the figures, please visit:
    http://abnnewswire.net/lnk/4864XV78

    Media & Investor Relations:
    Paul Armstrong
    E: paul@readcorporate.com.au
    T: +61-8-9388-1474

    0 0

    Prospect Resources Ltd (ASX:PSC) (the "Company") is pleased to announce that it is preparing to commence exploration at its Chishanya carbonatite project in the southeast of Zimbabwe, with a focus on determining the Rare Earth Element ("REE") potential of the site. Previous work carried out by the Company at the project was focussed on identifying copper mineralisation as well as the phosphate potential within apatite, and has not been assessed before for its REE potential.

    Highlights:

    - Chishanya carbonatite project is prospective for REE mineralisation

    - Previous work has identified apatite-hosted phosphate on the project

    - Prospect holds 10 exploration licences across 2.2km2 of main deposit

    - Prospect recently raised A$10m to further their exploration efforts and advance their flagship Arcadia Lithium Project

    - Prospect also holds options for the Good Days Lithium and Tombolo Cobalt projects in Zimbabwe and DRC respectively

    - Company is positioning itself as a leading explorer for battery metals

    Chishanya Project

    The project is located close to good infrastructure and the operating IDC Phosphate Mine at Dorowa (see Figure 1 in link below). Prospect's permits cover the central portion of Chishanya Hill, as well as the ground immediately north and west of it (see Figure 2 in link below for topography of project). Carbonatites are igneous rocks comprised over 50% carbonate minerals. Typically, they form circular plugs, with zoned variable alkalic rocks and associated cross cutting dykes and often show extensive wall-rock alteration.

    Many of them host significant abundances of apatite, magnetite, barite and fluorite that may contain anomalous concentrations of phosphates, REEs, niobium, uranium, thorium, fluorite, barite, vermiculite and occasionally copper. The REEs occur in minerals such as bastnaesite, allanite, apatite and monazite. The carbonatite at Chishanya has not been investigated before for its potential as a host for this suite of mineralisation, though apatite mineralisation has been mapped and assayed for its phosphate potential.

    Chishanya Carbonatite

    The Chishanya carbonatite lies in the Buhera district in the southeast of the country, 25km north of Birchenough Bridge.

    Prospect holds 10 claims forming just over 220 hectares, covering the majority of the carbonatite complex here.

    The deposit comprises a Lower Cretaceous (127 Ma) carbonatite complex with an approximate width of 1.5km and a length of 5km, striking north - south (see Figure 3 in link below). The carbonatites (mainly coarse calcium rich sövites) form arcuate dyke like bodies intruded with alternating layers of ijolite, fenite and foyaite. Thin layers and stringers of magnetite and apatite occur within the sövites, which can in parts reach 2- 3m width. The surrounding hills contain lenses of late-stage dark brown Fecarbonatite, rich in magnetite and apatite.

    Exploration

    Prospect's exploration programme has been designed to efficiently evaluate the REE potential of the Chishanya permits. A Phase 1 RC scope drilling programme will concentrate on testing the hard rock potential of Chishanya Hill, targeting the interpreted extensions of the apatite-magnetite lenses and iron carbonate bands exposed on surface.

    Previous work at the licence concentrated on near surface exploration for Palabora-style copper mineralisation, with only two boreholes ever having been drilled into the main hill by IDC in 1968 (locations seen in Figure 3 in link below). It should be noted that these holes were drilled primarily to test for Palabora style copper mineralisation, which is not present at Chishanya.

    Anomalously high phosphate values of up to 15% P2O5 were returned from historical surface trenching by the Miekle family and subsequently selective mining of the 2-3 m wide apatite-rich dykes at Baradanga Hill was considered for fertiliser by Barber in 1991. This area was estimated to contain 1,600 tonnes of ore per metre depth with an average grade of 8% P2O5. No detailed mineralogical studies of the phosphate-rich zones have been carried out. Also, no agronomic testing has been conducted on this phosphate resource. These apatite-rich dykes now form some of the main targets for this renewed phase of exploration and will be investigated for their REE, uranium, scandium, yttrium and niobium potential, and Prospect also intend to reassess the resource potential for phosphate fertiliser.

    Planned Prospect Resources Work Programme

    PR proposes to undertake a limited scope drilling programme to test the economic potential of the hard rock deposit that forms Chishanya Hill. Should the drilling indicate the presence of significant mineralisation then an infill drilling programme would be undertaken to increase confidence in the resource.

    - Phase 1 - Scoping Study. Channel chip samples across phosphate bands on Chishanya and Southern Baradanga First pass analysis by XRF-Niton, repeat assaying at ALS-Chemex in Johannesburg.

    - Scope drilling of anomalies with track-mounted RC rig. 10 x 100m deep holes on 100m grid. (Approx 1,000m). The purpose of this is to test the REE, niobium, uranium and phosphate contents.

    - Phase 2 - Infill Resource Definition Drilling. Assuming positive results from Phase 1 then an infill RC drilling programme of around 5,000m will be drilled on an approximately 50m grid.

    - 10% of the holes to be repeated with DD drilling to test depth extent and obtain samples for mineralogical & metallurgical test work. (5 x 100m holes =>500m).

    REE Potential

    Rare Earth Elements ("REEs") refers to a group of 17 chemically-similar elements, including the 15 elements in the Lanthanide Series, and also scandium and yttrium because of their similar properties. The REEs are chemically and physically very similar, which historically made separation of the individual REEs from each other fairly difficult as they can easily substitute for each other in. REEs are divided into two groups: light rare earth elements ("LREE", lanthanum to europium) and heavy rare earth elements ("HREE", gadolinium to lutetium and yttrium) based on their atomic weight. A further grouping termed critical rare earths ("CRE") has been established based on their importance to clean energy and potential supply risk. This has been supplemented to a certain extent by a grouping of rare earths used in the high strength permanent magnet sector which currently has the most favourable supply demand outlook.

    REEs do not occur naturally as metallic elements. Rather they occur in a wide range of minerals, including halides, carbonates, oxides, phosphates and silicates. More than 200 minerals are known to contain REEs, but only three minerals tend to carry economic concentrations: bastnasite, monazite and xenotime. The most commercially important REE deposits globally are associated with magmatic processes and occur in, or related to, alkaline igneous rocks or carbonatites, such as seen at Chishanya in Zimbabwe and Songwe Hill in Malawi. Songwe Hill is a carbonatite-hosted REE project, which is being advanced by Mkango Resources who recently raised C$10.5M for their feasibility study. Another carbonatite deposit, Mountain Pass in the USA, was the main source of REEs throughout the 1970s and 80s (source: USGS).

    Why REEs?

    REEs are used in small quantities in a variety of high technology growth industries. They are used to make powerful permanent magnets for lightweight electric motors, phosphors for TV monitors, catalysts for cars and chemical refineries, rechargeable batteries for hybrid and electric cars, generators for wind turbines, as well as numerous optical, medical and military devices. Many of these applications are highly specific and substitutes for the REE are inferior or unknown, so the REE have acquired a level of technological significance much greater than expected from their relative obscurity.

    The REE sector has been dominated for decades by China, who currently control over 90% of the world's supply (see Figure 4 in link below) but as the market continues to grow steadily their dominance is slipping and there is recognised strategic benefit in discovering REE sources outside of China. The outlook for dysprosium & neodymium, which are used in magnets in electric motors, seems to be particularly positive. Prices for neodymium and praseodymium oxide rose over 80% in 2017 (source: agmetalminer.com/).

    The principal markets for REEs are as follows:

    - Magnets: key applications for permanent magnets include industrial motors, hard disc drives and automotive applications. As the market for electric vehicles and hybrids grows, and also wind turbines and other forms of renewable energy storage are required, the demand for permanent magnets is expected to grow significantly - driving demand for REEs within them.

    - Batteries: nickel metal hydride batteries are used extensively in portable tools and also in hybrid vehicles. Some lithium ion batteries also contain substantial amounts of REEs, which are not currently recycled due to the expense of extracting them.

    - Metallurgy: REEs are used to improve the mechanical characteristics of alloyed steel and in desulphurisation.

    - Catalysts: REEs are used in catalysts, such as in catalytic converters in cars.

    - Industrial: REES are often used as polishing powders and glass additives, and for decolourisation and removing impurities.

    - Phosphors: REEs are an important constituent of tri-band phosphor lighting used in fluorescent tubes and lamps as well as LCD backlights for flat panel displays.

    - Other applications for REEs include ceramics, fibre optics and lasers.

    The market with the strongest growth potential is thought to be that of permanent magnets, and this is projected to continue as the demand for electric vehicles and renewable energy capture continues.

    The potential for the carbonatites at Chishanya to host REE mineralisation represents an exciting opportunity for Prospect Resources. The team will assess the site's potential through an efficient exploration programme, and will rapidly determine whether to progress to Phase 2 of the programme. If the REE potential at Chishanya is recognised, this will be a fantastic addition to Prospect's strategic portfolio of projects for high-tech battery metals.

    To view figures, please visit:
    http://abnnewswire.net/lnk/R55MER18

    Hugh Warner
    Prospect Resources Ltd
    Executive Chairman
    T: +61-413-621-652
    
    Harry Greaves
    Prospect Resources Ltd
    Executive Director
    T: +263-772-144-669
    WWW: www.prospectresources.com.au

    0 0

    Australian Securities Exchange and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX:ISX) (FRA:TA8), the world leading RegTech for identity verification and payment services, is pleased to announce interim operating update for its Australian payment processing and settlement operations.

    Highlights

    - Actual October - January operations indicate 'annualised' Gross Process Transaction Value (GPTV) will be in excess of $100m across first 3 merchants

    - Previous November forecast : GPTV expected in excess of $75m across 7 merchants

    - Actual Net Margin is tracking at 138bps, versus November forecast 92bps.

    Card Acquiring: Payment Processing & Funds Settlement Services

    Our last update date 28/11/2017 anticipated that the total card acquiring 'book' value would be in excess of $75m per annum of Gross Processed Transaction Value (GPTV) to be settled by ISXPay directly to the merchant's bank account. The Company also forecast an average net margin of 0.92% on the Merchant Services Fee (MSF), for provision of card acquiring / payment facilitation & settlement services, which would be applicable across the total contracted GPTV.

    Over the last four months, actual figures indicate that GPTV will exceed $100m annualised, based on just 3 of the 7 merchants contracted. The Company cannot at this stage forecast the GPTV contribution of the other contracted merchants or those being finalised to contract.

    The net MSF margin for this particular sector in which the merchants operate in, is in excess of 1.28% applied on the GPTV. The Company expects the net MSF will average down to around 1.15%, as the Company diversifies its operations across various unrelated merchant market sectors whilst also increasing in GPTV volume. Transactional (flat) fees charged are at a weighted average of 24c/Transaction and are in accordance with previous forecasts.

    The Company has elected to focus on selected merchants as they provided scale, and a higher gross margin than the anticipated average. This has allowed the company to bed down its technology and operations, before moving to conclude further integrations, process higher volumes, and finalise further new sales opportunities.

    Further merchants are expected to go live within the next few weeks, and will include the full Paydentity(TM) suite. For AML regulated merchants, the use of Paydentity will likely translate to higher KYC conversions together with massive increase in extraterritorial reach, which in turn will likely lead to corresponding increase in GPTV being processed by ISXPay(R).

    The Company will no longer announce merchants by name, but will report based on sector / actual results, in order to preserve merchant confidentiality and Company's commercial positioning.

    National Australia Bank Agreement (ASX:NAB)

    The Company announced on the 8th August 2016 an agreement with the National Australia Bank, whereby daily cashflow for card settlement is provided by the NAB at a wholesale rate to the Company. This allows the Company to pursue merchants of all sizes, as the NAB agreement ensures that the Company has adequate daily cashflow to effect settlement.

    Media: contact@isignthis.com
    
    Investor Relations
    Chris Northwood
    Activ8Capital
    T: +61-458-809-177 
    E: cnorthwood@activ8capital.com

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