Are you the publisher? Claim or contact us about this channel


Embed this content in your HTML

Search

Report adult content:

click to rate:

Account: (login)

More Channels


Showcase


Channel Catalog


Channel Description:

Asia Business News

older | 1 | .... | 222 | 223 | (Page 224) | 225 | 226 | .... | 321 | newer

    0 0

    Further to an announcement on 8 January 2018 of a proposed entitlement share issue, Mustang Resources (ASX:MUS) (OTCMKTS:GGPLF) is pleased to announce that it now proposes revised terms to raise up to $4,435,742 by a one-for-four non-renounceable entitlement issue at 2.3 cents per share.

    The offer price represents a 23% discount to the 15-day VWAP and a 11.5% discount to the last closing price.

    The proceeds will be used primarily to fund bulk sampling and exploration at the Company's Montepuez Ruby Project and exploration at its Caula Graphite Project (see Table 1), both of which are in northern Mozambique.

    Mustang's largest shareholder (with 7.74% of issued capital) and operator of its Mozambican ruby and graphite projects, Regius Resources Group Ltd, has confirmed it will take up A$200,000 of its entitlement in the raising (representing 8,695,652 shares, being a majority of its entitlement). Non-Executive Chairman Ian C Daymond has also confirmed his intention to take up his full entitlement.

    The record date for the offer is Tuesday, 27 February 2018.

    Mustang Managing Director Dr. Bernard Olivier said: "This entitlement offer provides shareholders with a further opportunity to participate in Mustang's growth.

    "We believe we are well on track to establishing Montepuez as a world-class ruby project.

    "The ongoing ruby bulk sampling and exploration campaign in coming months will be funded predominantly by this raising as we continue to refine our ruby marketing strategy with increasing market intelligence.

    "Equivalent funds will be dedicated to xploration at the high-grade Caula Graphite Project aimed at increasing the JORC Resource and fast-tracking feasibility studies as part of our strategy to supply the global lithium battery market."

    As the entitlement issue is non-renounceable, the rights cannot be transferred or sold. Up to approximately 192,858,347 fully paid ordinary shares may be issued pursuant to the entitlement issue. Shares issued under the entitlement issue will rank equally with fully paid ordinary shares currently on issue.

    The entitlement issue is not underwritten and Directors retain the right to place any shortfall on the same terms within 3 months after the closing date.

    Full details of the offer can be found in the accompanying Offer Document to be dispatched to eligible shareholders on the record date.

    The timetable of the offer is set out in Table 2 below.

    Table 1. Use of Entitlement Offer Proceeds

     
    ---------------------------------------------------------------------
    Items of Expenditure              Amount ($)          Percentage (%)  
    ---------------------------------------------------------------------
    Bulk sampling and 
    exploration activities 
    on the Montepuez 
    Ruby Project(1)                   $1,800,000            40.58% 
    ---------------------------------------------------------------------
    Exploration activities 
    on the Caula Graphite Project(2)  $1,800,000            40.58% 
    ---------------------------------------------------------------------
    Working capital(3)                $772,742              17.42% 
    ---------------------------------------------------------------------
    Expenses of the Offer             $63,000               1.42% 
    --------------------------------------------------------------------- 
    TOTAL                             $4,435,742            100% 
    --------------------------------------------------------------------- 
    
    Note:

    1. Bulk sample mining and processing using the Company's processing plant. Pitting and sampling by the geological team to identify ruby mineralisation. Test sales and market development of current and future rubies available for sale through the Company's offices in Thailand or other sales channels.

    2. Diamond drilling and sampling on licences 6678L and 5873L. Chemical and metallurgical testing and assaying by laboratories in South Africa and Australia. Feasibility studies including concept and definitive feasibility studies inclusive of plant and process flow designs, capital and operating cost estimates and financial modelling.

    3. Funds allocated to working capital will be used for administration expenses of the Company over the short term, including Director's remuneration, office and administration costs and general corporate overheads.

    Table 2. Entitlement Offer Timetable

    Action Item: Company announces Rights Issue
    Date: 22 February 2018

    Action Item: Lodgement of Offer Document, Appendix 3B and s708AA Cleansing Notice with ASX
    Date: 22 February 2018

    Action Item: Notice sent to Option holders
    Date: 22 February 2018

    Action Item: Notice sent to Shareholders
    Date: 23 February 2018

    Action Item: Ex-date
    Date: 26 February 2018

    Action Item: Record Date for determining Entitlements
    Date: 7.00pm (Sydney time) on 27 February 2018

    Action Item: Offer Document and personalised Entitlement and Acceptance Forms sent out to Eligible Shareholders & Company announces this has been completed
    Date: 2 March 2018

    Action Item: Last day to notify ASX of an extension to the Closing Date
    Date: 16 March 2018

    Action Item: Closing Date
    Date: 5.00pm (Perth time) on 21 March 2018

    Action Item: Shares quoted on a deferred settlement basis
    Date: 22 March 2018

    Action Item: ASX notified of under subscriptions
    Date: 26 March 2018

    Action Item: Issue date/Shares entered into Shareholders' security holdings
    Date: 28 March 2018

    Action Item: Quotation of Shares issued under the Offer
    Date: 29 March 2018

    To view the release with tables, please visit:
    http://abnnewswire.net/lnk/5EU94L15

    To view the Non-Renounceable Issue - Offer Document, please visit:
    http://abnnewswire.net/lnk/BQ89MY54

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

    0 0

    Cardinal Resources Limited (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) ("Cardinal" or "the Company") is pleased to advise that it has now received the final tranche of assay results from its current phase of infill resource drilling at the Namdini Gold Project in Ghana. These encouraging results follow on from the previously announced drilling results (refer to ASX/TSX announcement of 22 January 2018), and will now form the basis for an update to the Mineral Resource estimate which is expected to be delivered at the end of the March quarter.

    Cardinal's Chief Executive Officer / Managing Director, Archie Koimtsidis said:

    "These are the final tranche of drill results from the infill drilling programme which was specifically designed with the objective of increasing the confidence level by targeting our 3.1Moz of Inferred Resources into the Indicated Mineral Resource category which currently contains 4.3Moz at a 0.5 g/t gold cut-off grade. The Measured and Indicated Mineral Resources will drive our Pit Design and Mining Schedule for the Pre-Feasibility Study that is well underway, and expected to be completed by mid-2018.

    "While we are continuing to work towards upgrading our current Mineral Resource base at Namdini by Q1 2018, we also have drill rigs actively testing our highly prospective regional exploration licences for new discoveries, and we look forward to providing information from these first pass drill programmes".

    HIGHLIGHTS

    - 17m at 5.4g/t Au from 216 - NMDD149

    - 10m at 4.8 g/t Au from 377m - NMDD139

    - 50m at 2.3g/t Au from 101m - NMDD141

    - 11m at 3.0 g/t Au from 494m - NMDD149

    - 16m at 2.3g/t Au from 436m - NMDD151

    - 34m at 2.4 g/t Au from 345m - NMDD149

    - 18m at 2.0 g/t Au from 510m - NMDD149

    - 19m at 2.2 g/t Au from 477m - NMDD151

    - 37m at 2.0 g/t Au from 98m - NMDD139

    - 20m at 2.1 g/t Au from 99m - NMDD142

    - 27m at 1.8 g/t Au from 145m - NMDD140

    - 19m at 2.0 g/t Au from 286m - NMDD140

    - 42m at 1.6 g/t Au from 255m - NMDD139

    - 31m at 1.5 g/t Au from 232m - NMDD141

    - 53m at 1.4 g/t Au from 150m - NMDD142

    - 51m at 1.3 g/t Au from 199m - NMDD139

    Individual gold intersections are >0.5 g/t Au with no more than 3m of consecutive internal dilution at
    Detailed results of the drill programme are included below and in the attached schedules (see link below).

    DISCUSSION OF RESULTS

    All drilling results from the current phase of infill drilling have been returned from the comprehensive campaign designed to increase the confidence in the current Namdini Mineral Resource and enable the establishment of a maiden Ore Reserve. The current phase of drilling specifically focused on Mineral Resource conversion by infilling the existing drill pattern to within a nominal 50m x 50m spacing targeting a vertical depth of approximately 400m below surface. In total, the Company has now completed 96,228m of drilling comprised of 62,935 HQ diamond drill metres and 33,293 5.5' RC drill metres for the Namdini Mineral Resource. The results strongly support the continuity of mineralization and increase the confidence in the current Mineral Resource.

    The Namdini Project currently has an estimated Indicated Mineral Resource of 4.3 Moz of gold and an Inferred Mineral Resource of 3.1 Moz of gold (refer to ASX/TSX announcement on 18 September 2017 for details) at 0.5 g/t cut-off grade. The infill drilling is expected to upgrade a significant portion of the current Inferred Mineral Resource into a higher category thereby increasing the current Indicated Mineral Resource base. Optimisation studies will commence after the Mineral Resource update due Q1 2018, which will then underpin the Company's maiden Ore Reserve. The Ore Reserve will then form the basis of the Pre-Feasibility and Definitive Feasibility Studies that the Company is progressing for the Namdini Project.

    Figure 1 (see link below) illustrates a plan view of the collar locations of drill holes and a typical interpretive section through the mineralization which is displayed in Figure 2 (see link below). Meta Data for significant intercepts are tabulated in Table 1, Schedule 1 (see link below). Details of all significant intercepts are provided in Table 2, Schedule 1 (see link below).

    To view tables and figures, please visit:
    http://abnnewswire.net/lnk/3J1V70SK

    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

    Brisbane-based conventional gas developer State Gas Limited (ASX:GAS) is pleased to advise it has appointed Lucy Snelling as its inaugural Chief Executive Officer (CEO).

    HIGHLIGHTS

    - State Gas Limited has appointed as its inaugural Chief Executive Officer Lucy Snelling LLB (Hons), BA, G.Dip Finance and Investment.

    - Lucy was formerly Manager Gas Development for AGL Energy Limited and comes from a specialist background as a commercial and legal advisor in the oil and gas sector and as the former Partner and head of oil and gas in a Queensland-headquartered law firm.

    - The CEO services contract includes incentive-based remuneration including an Options package linked to share price growth and key program and commercial milestones.

    Lucy's appointment is a strategic appointment for State Gas as the Company progresses towards the appraisal and development of its Cattle Creek - Reid's Dome conventional gas project (PL 231) South West of Rolleston in the Bowen Basin in Central Queensland.

    In her former role as Manager Gas Development, Upstream Gas at AGL Energy Limited, Lucy was responsible for a range of commercial upstream activities including leadership of gas and oil exploration projects, budgeting and forecasting, economic analysis of proposals and operations, negotiation and management of product sales, gas transportation contracts and major procurement activities.

    Lucy was also responsible for joint venture management and administration of a number of AGL Energy upstream gas projects.

    Lucy is a Solicitor of the Supreme Court of Queensland was Partner of a Queensland- headquartered law firm for seven years, where she led the firm's oil and gas work. As the oil and gas Partner of the firm, she was the principal legal advisor to a number of major gas pipeline companies, oil and gas joint ventures and related fundraising initiatives. In her role as a senior legal advisor Lucy has been a trusted adviser in the development, acquisition and divestment of major infrastructure and resources projects and businesses, including gas pipelines, resource projects and infrastructure.

    During her legal career, she was a key proponent in the establishment of the Infrastructure Association of Queensland Inc. and subsequently worked in the infrastructure sector with the Queensland Government as a Director in the Queensland Department of Transport.

    Lucy is also a director of the Cross River Rail Delivery Authority, responsible for delivering the Queensland Government's $5.4bn Cross River Rail infrastructure project.

    State Gas Chairman, Tony Bellas, said that the appointment of Lucy Snelling was a very strategic move for the Company and will provide the right mix of talent, expertise and management skills to progress the Company's Cattle Creek and Reid's Dome Project through the drilling and pipeline approvals phases.

    "With Lucy's career experience in the upstream oil and gas sector and joint venture management, and infrastructure and development approvals, and the Board's existing skill set, State Gas is strongly placed to deliver on our plans for the PL 231 project and future opportunities."

    Among her formal qualifications, Lucy holds a Bachelor of Laws (2A Hons), a Bachelor of Arts, a Graduate Diploma in Finance and Investment and is a graduate of the AICD Company Director's Course.

    The appointment is effective immediately on a half-time basis and is for a term of two years. It includes base pay of $170,000 inclusive of superannuation (on the basis of half time commitment) and incentive-based remuneration including an Options package under the Company's Equity Option Plan linked to share price growth and key program and commercial milestones.

    Subject to vesting conditions including the achievement of agreed performance milestones regarding the progress of the Cattle Creek and Reid's Dome conventional gas project, Ms Snelling will receive 1,000,000 Options with an exercise price of $0.40 each and 1,000,000 Options with an exercise price of $0.60 each. Subject to satisfaction of vesting conditions 25% of each tranche of options will vest after 3 months, with the balance vesting at the conclusion of the two year term.

    Greg Baynton
    Executive Director
    State Gas Limited
    M: +61-414-970-566
    E: greg@stategas.com
    
    Tony Bellas
    Chairman
    State Gas Limited
    M: +61-412-244-385
    E: tony@stategas.com

    0 0

    Sayona Mining Ltd (ASX:SYA) (OTCMKTS:DMNXF) provides the Company's latest Presentation at RIU Explorers Conference.

    Sayona - At a Glance

    - Australian-based, ASX listed lithium exploration and development company

    - Primary objective is to fasttrack development of the advanced Authier Lithium Project

    - Targeting first production at Authier in late 2019 / early 2020

    - Significant portfolio of lithium exploration properties in Australia and Canada

    Sayona Investment Proposition

    - Authier is an advanced, de-risked project. DFS underway

    - Executing a plan to get into production and generate cash flow - low capital hurdle & competitive operating costs

    - Base case pre-tax NPV of A$227 million and low enterprise value per tonne of resources compared to industry peers

    - Opportunity to value-add Authier concentrates and create significant shareholder value - $794m pre-tax NPV

    - West Australian exploration advancing spodumene pegmatite discoveries and unlocking value

    - Board and management team have track record of delivering projects

    To view the full presentation, please visit:
    http://abnnewswire.net/lnk/83V50RL9

    Sayona Mining Ltd
    T: +61-7-3369-7058
    E: info@sayonamining.com.au
    WWW: www.sayonamining.com.au
    

    0 0

    Lithium exploration company Lake Resources N.L. (ASX:LKE) ("Lake" or "LKE") has sourced an additional larger rotary drilling rig to accelerate the drilling of lithium brines within porous sands, which are excellent host horizons, at the Company's 100%-owned Kachi Lithium Brine Project in Catamarca.

    - Drilling will be expanded within lithium brines at Lake's 100%-owned Kachi Lithium Brine Project in Catamarca Province, Argentina.

    - An additional larger rotary drill rig has been contracted to support the current rig and accelerate the drilling programme.

    - Thick porous sands identified provide the target of this drill programme as sands are excellent horizons for brines and may show significant grades as suggested by nearby third party drilling.

    - Discussions are well advanced to grant access to areas in Jujuy Province adjacent to SQM/Lithium Americas' and Orocobre's respective projects in Jujuy.

    Drilling is aimed at reaching target depths of 200m to 350m to intersect further brine horizons which are anticipated at depth. These may show significant results as suggested by nearby third party drilling with results above 250 mg/L lithium below 170m depth.

    Drilling commenced with a rotary drill rig this month. However, minor delays have been due in part to sourcing drilling supplies and weather conditions. A decision was made to source an additional rig to commence in the coming week. This has delayed the anticipated assay results for brine samples.

    Kachi Lithium Brine Project - Background

    The Kachi Lithium Brine Project covers over 50,000 ha of mining leases owned 100% by Lake's Argentine subsidiary, Morena del Valle Minerals SA, over the centre of the known salt lakes in the deepest part of a large basin. Surface sampling has revealed positive lithium results and drilling has shown conductive brines in thick porous sands with the potential for a significant lithium brine basin.

    The Company has a focus on an inclusive approach with local communities together with appropriate environmental management. A Letter of Intent was signed with Catamarca Province to facilitate the project through various permitting stages from exploration to production which bodes well for the future.

    Update on Olaroz Cauchari Project in Jujuy Province

    Lake is also pleased to advise that discussions are well advanced to grant exploration access to areas within Lake's ~45,000 ha Olaroz-Cauchari Project and Paso Project in Jujuy Province. The project is adjacent to SQM/Lithium Americas development project and Orocobre's lithium production and targets the same aquifers.

    To view figures, please visit:
    http://abnnewswire.net/lnk/93C9242A

    Steve Promnitz
    Managing Director
    Lake Resources N.L.
    T: +61-2-9188-7864
    E: steve@lakeresources.com.au

    0 0

    The Directors of Core Exploration Ltd (ASX:CXO) present their Report together with the financial statements of the consolidated entity, being Core Exploration ("Core" or "the Company") and its controlled entities ("the Group") for the half year ended 31 December 2017 and the Independent Review Report thereon.

    Core Exploration Ltd holds exploration projects comprising tenements in highly prospective geology in the Northern Territory and world-class mining provinces in South Australia.

    The Company's project areas are focused on targets within prospective geological terrains for lithium, base metals and uranium in Northern Territory and South Australia, which host world-class mining operations including Olympic Dam and Four Mile and Beverley uranium mines.

    In the half year to 31 December 2017, Core continued exploration and development programs at its 100%-owned tenements in the Finniss region in the Northern Territory.

    To view the full report, please visit:
    http://abnnewswire.net/lnk/TL43RAVC

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

    0 0

    The 2017 financial year continued the strong momentum for DroneShield Limited (ASX:DRO) (OTCMKTS:DRSHF) ("DroneShield" or "the Company"), following its listing on the ASX in June 2016.

    The Company continued to build out its world leading suite of cutting-edge counter-drone products. In response to end-user requirements, in the second half of the year, DroneShield launched DroneGun MKII and, subsequent to year end, DroneGun Tactical. Both are innovative portable rifle-shape jammers, covering a broad range of tactical environments and uses. The Company also launched DroneSentinel and DroneSentry in the second half of the year. DroneSentinel is a unique modular drone detection system incorporating radar, radiofrequency, and thermal and optical camera sensors, as well as the patented acoustic detection technology that is at the genesis of DroneShield. All of the detection components of DroneSentinel are also available as standalone products. DroneSentry is a detect-and-defeat product, which incorporates all of these detection capabilities and pairs them up with a jamming capability.

    DroneShield also made significant sale and marketing progress during the year. Its sales, installations and test deployments during, or shortly after the end of, the year included those to/with the Boston Marathon (for a third straight year), the Hawaii IRONMAN, the World Economic Forum, NATO militaries, and a competitive Paraguay government tender. DroneShield has a significant sales pipeline. It is participating in a number of trials and procurement processes across military, law enforcement and critical infrastructure customers in the United States, Australia, NATO countries and elsewhere. Its pipeline includes active engagement with dozens of potential end-users, with the size of each potential order ranging between hundreds of thousands of dollars and tens of millions of dollars (see Note below). Most recently, the Company announced its participation in the 2018 Urban 5th Generation Marine Exploration and Experimentation Exercise ('U5G') and the U.S. Special Operations Command SOFWERX ThunderDrone. During the year, DroneGun was certified by the French military as safe for human use as part of their procurement process, and compliant for human exposure under Australian and New Zealand Communications and Media Authority requirements, as part of an Australian procurement process.

    The Company continued its active engagement with the Australian and the United States governments, and recently applied for several high-value R&D grants in both countries. It recently received its first R&D Tax Incentive Grant from the Australian Government. DroneShield was also selected to be a part of Team Defence Australia ('TDA') for the high profile DSEI (London) and AUSA (Washington DC) military exhibitions. TDA is a joint effort with the Australian Department of Defence and Austrade.

    The Company continues to work with its third-party partners across its sales partner network in approximately 50 countries, as well as its R&D and manufacturing partners to complement its in-house team, optimising its capital expenditure. The Company successfully completed two rounds of funding during the year, as well receiving additional capital through exercise of its listed options.

    DroneShield's developments come against the rapidly increasing backdrop of terrorist organisations increasing the sophistication and frequency of use of consumer and commercial grade drones for nefarious purposes. The military market is expected to continue to be an important market segment for the Company going forward, and the Company is well positioned for the military markets as it is participating in a number of tenders, and its products are undergoing a number of evaluations at present.

    DroneShield continues to attract a significant amount of media interest globally, including coverage by Channel 7 and Commsec TV, ABC and 2GB radio in Australia; and CBS, NBC and Fox News in the US.

    In October 2017, DroneShield engaged Mesirow Financial, a 600-person U.S. investment bank with a specialty in aerospace and defence, in order to explore strategic options, in response to large defence companies expressing interest in a partnership with the Company. Several parties have now signed confidentiality agreements and proceeded into subsequent rounds of discussions.

    Note: Not all (and there can be no assurance that any) of these sales opportunities will result in sales.

    To view the full report, please visit:
    http://abnnewswire.net/lnk/MNAV4B8P

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

    0 0

    Mustang Resources Limited (ASX:MUS) (OTCMKTS:GGPLF) advises that further to the announcement today 22 February 2018 in relation to the Company's one-for-four non-renounceable entitlement issue the time table contained in the Offer Document has been updated.

    To view the updated Offer Document, please visit:
    http://abnnewswire.net/lnk/RKB2F826

    Mustang Resources Ltd
    E: info@mustangresources.com.au
    WWW: www.mustangresources.com.au
    

    0 0

    MYOB Group Limited (MYOB) (ASX:MYO), a leading provider of online business management solutions to Australian and New Zealand businesses, is pleased to announce its financial results for the 12 months ended 31 December 2017.

    Highlights

    - Solid financial results delivering double-digit growth across all key financial measures

    - Record online subscriber growth (up 60 per cent), driven by new SME wins, the highest ever online migration rate from active non-paying users and strong growth in online practice ledgers

    - Customer lifetime value of subscriber base continues to increase with improvements in ARPU, retention rates and the uptake of Connected Services

    - Delivery of the Connected Practice vision and focused investment in the MYOB Platform is generating real efficiencies and savings for SMEs and Advisers and driving rapid uptake in MYOB's online practice tools

    - MYOB's new Payments segment opens up a $1.2 billion market opportunity; with Enterprise Solutions now recognised as the #1 ERP provider (see Note 1 below) in Australia and New Zealand in its segment

    - Strong balance sheet and efficient capital management generating $73 million in capital returned to shareholders in 2017; net debt below 2.0x EBITDA

    - Positive trajectory continues, with a regulatory decision on the acquisition of Reckon's Accountant Group assets expected in 2Q18

    - On track to reach one million online subscribers in Australia and New Zealand by 2020

    Financial Summary

    Revenue for the 12 month period increased to $416 million, up 12 per cent on the prior year (13 per cent on a constant currency basis - see Note 2 below), and underlying earnings before interest, tax, depreciation and amortisation (EBITDA) grew to $190 million, up 11 per cent on prior year. MYOB's preferred measure of after tax profit, NPATA (see Note 3 below), was $102 million, up 10 per cent on prior year, with associated NPATA earnings per share of 16.9 cents, up 8 per cent on prior year.

    Dividend and Share buyback

    The Company's balance sheet remains robust and as a reflection of this, the Board has declared a final dividend of 5.75 cents per share. This represents a payout ratio of 66 per cent of 2H17 NPATA and brings the full year dividend to 11.5 cents.

    In August 2017, MYOB announced an on-market share buyback of up to 5 per cent of the Company's issued capital. During 2017 the Company acquired more than $3 million in shares from existing cash and a further $3 million was purchased in January and February 2018. The dividend and buyback combined represents a total of $73 million of capital returned to shareholders in 2017 and a total of $170 million of capital returned to shareholders from the time of listing to 31 December 2017.

    Acquisitions

    During the 2017 financial year, MYOB announced two strategic acquisitions, aligning to MYOB's Connected Practice vision and expansion strategy.

    In April 2017, MYOB acquired Paycorp, a leading payments solutions provider, for $48 million. Following the integration into MYOB, the newly created Payment Solutions segment contributed revenue of $6.3 million in the nine months to December 2017.

    In November 2017, MYOB announced its intention to acquire the assets of Reckon's Accountant Group for $180 million. Review by the competition regulators in Australia and New Zealand is underway, with a decision expected in 2Q18.

    Justin Milne, Chairman:

    "MYOB continues to generate strong financial results, with 2017 delivering another year of double-digit earnings growth.

    Our record online subscriber growth of 60 per cent is an outstanding result and demonstrates that our continued and focused investment in product development, sales, marketing and brand is delivering strong outcomes. It is pleasing to see accelerating migration from our active non-paying base to online solutions, with the rate nearly doubling in three years, as our customers embrace the benefits and efficiencies of online solutions.

    Our Enterprise Solutions segment continues to make headway delivering strong growth and I'm delighted that we've been recognised as the number one ERP provider in Australia and New Zealand.

    Our balance sheet remains very strong and we continue to have the flexibility to pursue accretive acquisitions that add value to our core business and enhance our addressable market. We've initiated our share buyback and are pleased to declare a final dividend of 5.75 cents per share, returning $73 million of capital back to shareholders in 2017."

    Tim Reed, Chief Executive Officer:

    "I am pleased to report a great set of financial results for the 2017 financial year.

    We strongly believe in our Connected Practice vision and as we invest to build out the MYOB Platform, it is pleasing to see more and more accountants and advisers embrace this change and using our online tools. The rewards of automation and accurate data feeds are significant and generate greater efficiencies and savings for our SMEs and Advisers.

    With the accelerating growth in online subscribers in FY17, we are on track to reach one million online subscribers in Australia and New Zealand by 2020.

    The past year has been an exciting one in terms of the growth trajectory and expansion into new markets. In April, we acquired Paycorp and expanded our total addressable market by more than $1.2 billion. The Paycorp business is now fully integrated within MYOB and enables us to offer a market-first integrated payment and accounting solution to clients.

    We announced in November our intention to purchase Reckon's Accountant Group assets. We are excited by the opportunity that this acquisition will bring, and await a decision from the Australian and New Zealand competition regulators, expected in 2Q18."

    FY18 Guidance

    Tim Reed, Chief Executive Officer:

    "Our outlook for FY18 remains positive, with a regulatory decision on the acquisition of Reckon's Accountant Group assets expected in 2Q18.

    The Connected Practice vision, together with the development of the MYOB Platform, is expected to accelerate online subscriber growth in 2018.

    We expect organic revenue growth to remain in the 8 per cent - 10 per cent range, with EBITDA margins of 43 per cent - 45 per cent. Including the acquisition of Reckon's Accountant Group assets (assuming a 2Q18 acquisition date) total revenue growth is expected to be 14 per cent - 16 per cent, with EBITDA margins of 41 per cent - 43 per cent.

    We expect FY18 R&D investment to be approximately 16 per cent of revenue.

    In addition, we will continue to pursue growth and investment opportunities whilst maintaining capital efficiency. With the acquisition of Reckon's Accountant Group assets, we expect acquisition transaction and integration costs (including accelerating Platform development) to be in the range of $15 million to $20 million in FY18."

    Clients & Partners

    (accounted for 82 per cent of total revenues)

    In FY17, the Company consolidated its go-to market teams from its SME Solutions and Practice Solutions divisions into a new "Clients & Partners" division, responsible for the delivery of the Connected Practice vision to MYOB's SME and Practice clients. In FY17, Clients & Partners revenue grew by 8 per cent compared to the prior year (SME and Practice Solutions revenue combined).

    This growth was predominantly driven by SME revenue growth which increased by 10 per cent compared to FY16. Recurring revenue represented 99 per cent of total revenue from SMEs, up from 98 per cent in FY16, and grew by 11 per cent in FY17. This was driven by:

    - Paying users growing 6 per cent to 618,000, which was driven by a 35 per cent increase in online SME subscribers (from 225,000 to 304,000), an increasing rate of migrations from active non-paying to paying online users and a record 82 per cent retention rate.

    - ARPU growing by 4 per cent to $424 in FY17, with price increases supported by increased product functionality and continued growth in connected services. This was offset by a mix shift to lower ARPU products and the impact of FX in 2H17 due to the weaker NZ$.

    MYOB launched a number of new and innovative products and connected services to SME clients in 2017, including Automated bills processing - enhanced Smart Bills service through application of next-gen AI processing of bills, and piloting a direct supplier feed service; MYOB Invoices mobile app for iOS & Android devices; and two factor authentication to increase security.

    Revenue from Practices grew at 2 per cent from FY16, broadly in line with long term growth rates, driven primarily by ARPU increases. Recurring revenue represents 98 per cent of total revenue from Practices, in line with FY16.

    Enterprise Solutions

    (accounted for 16 per cent of total revenues)

    MYOB Enterprise Solutions has been recognised as the number one provider of ERP solutions in Australia and New Zealand, based on total sites installed. The Company's online ERP solution, MYOB Advanced, now has more than 450 sites installed (up >80 per cent year on year) and made up almost 60 per cent of MYOB's Tier 3 ERP sales in FY17.

    Enterprise Solutions revenue grew at 25 per cent from FY16, of which 18 per cent resulted from a full year of revenue from the acquisition of Greentree in August 2016. Underlying revenue, excluding acquisitions, grew by 7.5 per cent from FY16. Organic recurring revenue grew 11 per cent in FY17 and now represents 82 per cent of Enterprise Solutions total revenue, up from 80 per cent in FY16.

    New license revenue reduced by 9 per cent in FY17 as the shift from desktop licenses to online subscriptions accelerated.

    Payment Solutions (new revenue reporting segment)

    Payments Solutions revenue for the 9 months to December 2017, following the April acquisition of Paycorp, was $6.3 million. Further revenue from MYOB's PayDirect Online invoicing solutions for SMEs is included within the Clients & Partners SME revenue. MYOB has fully integrated the Paycorp team into MYOB's dedicated Payment Solutions division and enhanced the team with payments-specific expertise in product management, business development and technical delivery.

    Further information and web conference details

    The MYOB ASX release should be read in conjunction with the corresponding MYOB FY17 Results Presentation and the MYOB 2017 Annual Report. All documents are available on the MYOB Investor website: http://www.abnnewswire.net/lnk/66076IA0

    CEO Tim Reed and CFO Richard Moore will present the results to analysts on a conference call at 10:30am AEDT today. To register for the MYOB webcast, please click here http://www.abnnewswire.net/lnk/Y201YA9A

    Playback facilities will be available and a conference call transcript will be published on the ASX platform.

    Conference call details

    Conference Pin # 1379378
    Australia Toll Free 1800 123 296
    Australia Toll 612 8038 5221
    Hong Kong 800 908 865
    Singapore 8006162288
    New Zealand 0800 452 782
    United Kingdom 0808 234 0757
    USA 1855 293 1544
    Canada 1855 5616 766

    For further conference dial in details - refer to ASX announcement dated 29th January 2018.

    Notes:

    1 Source - iStart ERP Buyers Guide 2017-18; based on ANZ ERP sites installed (Exo, Advanced and Greentree)

    2 FY17 revenue growth rate was 12.7 per cent on a FY16 constant currency basis

    3 MYOB considers NPATA (net profit after tax and after adding back the tax effected amortisation expense related to acquired intangibles), rather than NPAT, to be a more meaningful measure of after tax profit due to the large amount of non-cash amortisation of acquired intangibles that is reflected in NPAT.

    To view tables, please visit:
    http://abnnewswire.net/lnk/74252AJP

    To view the Annual Report, please visit:
    http://abnnewswire.net/lnk/K8I2912Q

    To view FY2017 Results Presentation, please visit:
    http://abnnewswire.net/lnk/5B1TSHGO

    Investor and Analyst Enquiries
    Christina Nallaiah
    Head of Investor Relations
    T: +61-2-9089-9122
    M: +61-468-362-553
    E: christina.nallaiah@myob.com
    
    Media Enquiries
    Lia Pacquola
    Head of PR, Corporate Communications
    M: +61-418-116-790
    E: Lia.Pacquola@myob.com
    W: www.myob.com

    0 0

    Elk Petroleum Limited (ASX:ELK) (OTCMKTS:EKPTF) provides the Company's latest presentation at EnerCom Conference.

    Delivering significant Reserves growth

    Reserve additions are:

    - All high value liquids

    - At low cost per bbl

    - Largely 1P Proven Developed Producing -"PDP"

    - 1P PDP are the lowest risk category of reserves -90% confidence level

    - 1P PDP reserves require no further capital to produce

    - Additional low risk, low cost 1P Proven Developed Non-Producing (PDNP) reserves

    - Significant 2P reserve growth

    Delivering significant production growth

    Substantial increase in Quarter-on-Quarter production -more than doubled

    - Company sets new quarterly production record of ~673,100 BOE.

    - Quarter-on-Quarter increase in production largely driven by completion of AnethOil Field acquisition.

    - FY 2017 production growth driven by Aneth Oil and Madden Gas acquisitions.

    - Quarterly production only reflects 2 full months of Aneth production from purchase effective date.

    - Oil now makes up over 50% of Company's total production (53%) -expected to grow to ~69%

    Investing in Elk

    - Only ASX-listed oil company focussed on enhanced oil recovery

    - Core projects located in the prolific Rocky Mountain CO2EOR Fairway

    - Aneth acquisition transforms Elk into one of the leading CO2 EOR production operators in the Rockies

    - Aneth Oil Field and CO2EOR operation is highly accretive

    - Aneth delivers significant growth in reserves, long-life production & cash flow

    - Madden/Lost Cabin delivers free cash flow & significant long-life, low risk, high quality reserves & production

    - Elk is now a CO2supplier in its own right from Madden/Lost Cabin ownership interest

    - Company's flagship Grieve CO2EOR Project is nearly complete and commissioning & start-up imminent

    - Start-up of Grieve Project will deliver material production and PDP Reserve growth in CY 2018

    To view the full presentation, please visit:
    http://abnnewswire.net/lnk/8DN6GKRE

    Elk Petroleum Limited
    T: +61-2-9093-5400
    E: ir@elkpet.com
    WWW: www.elkpet.com
    

    0 0

    Your directors are pleased to present their report on the consolidated entity consisting of Envirosuite Limited (ASX:EVS) ("the Company") and the entities it controlled at the end of, and during, the half year ended 31 December 2017 (also referred to in this report as the "Group").

    Highlights from the first half

    The divestment transaction whereby the group sold its consulting businesses to become a pure technology business was completed on 26 June 2017 and the post-completion steps were undertaken through the September quarter with a small number of outstanding items that are expected to be finalised by 30 June 2018.

    Mr Peter White re-joined the company as Chief Executive Officer and director on 10 July 2017.

    The new group came together for a conference in mid- July to set the strategic direction of the company post the consulting sale, re-introduce Peter White, and finalise the 2018 business plan.

    Key internal milestones achieved during the first half include:

    - A strategic marketing and sales program commenced in October 2017.

    - Several key sales hires were appointed in our target markets of UK, Europe and USA through November and December 2017.

    - The group acquired the assets of Odotech Inc and hired 24 of the former team members across Canada, Chile and Europe.

    - The Group now comprises more than 60 people across 7 countries, with international offices in San Francisco, Montreal, Santiago and Madrid.

    The Directors regard the achievements of the last half of the 2017 calendar year to be as transformational in their potential for future shareholder value as the divestment transaction completed in the first half of 2017.

    To view the full report, please visit:
    http://abnnewswire.net/lnk/3B94939R

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

    0 0

    Tesserent Limited (ASX:TNT) an ASX-listed company, provides cyber security services ('Managed Security as a Service' or SECaaS) to a range of highly regarded Australian and international corporate clients. TSI estimates that Tesserent is on track to generate revenue of around $6 million this financial year.

    Recently, Tesserent launched CyberBiz, targeting the two million small- to medium-sized businesses ('SMBs') in Australia. Tesserent has identified a growing need for cyber security services for these sizes of enterprise, which hackers are increasingly targeting due to the generally lower levels of cyber protection among SMBs.

    More specifically, Australia's Privacy Amendment Act 2017 (which takes effect on 22 February 2018) is likely to significantly impact SMBs. The Act requires that all Australian government agencies and businesses with an annual turnover of $3 million (or more) per annum notify the Office of the Australian Information Commissioner, as well as any potentially impacted clients, should a significant data breach occur. Aside from the damage of such a breach to a business's reputation, the Act's strict reporting requirements mean that any lack of adherence to them can attract significant fines.

    Analyst comment: recently, a number of high profile, large-market-capitalisation technology companies on the ASX have created high expectations that were not subsequently delivered upon. The results were twofold: a sell-down of those companies, and closer questioning by investors of the claims of other entities in the sector.

    Tesserent, on the other hand, has neither hyped its products nor generated unrealistic expectations. Rather, the company has focused on expanding its business, achieving strong growth in revenue year on year ($5.4 million FY17 (actual), $6.5 million FY18 (TSI estimate)).

    With its foundation firmly in place, Tesserent has now embarked on a growth strategy with CyberBiz, targeting the two million SMBs increasingly in need of cyber protection for the reasons outlined above.

    Given the significant market potential, we believe that CyberBiz - even on a conservative view - could be a long-term driver for Tesserent (TSI 5-year forecast = 5,000 clients = $20 million in revenue). CyberBiz being a mainstream product, it is also likely that the company will enjoy increased market exposure over time.

    Industry: cyber attacks on governments, corporations and individuals are now so commonplace that the cyber security industry as a whole is approaching revenue of US$86 billion per annum.

    The largest subsector of this industry is MSaaS (US$12 billion per annum and growing at 14% a year), which involves outsourcing cyber security to professionals who specialise only in the provision of this service.

    Privacy Amendment Act 2017: this legislation could cripple a company lacking sufficient cyber protection, since not only would public disclosure of a breach harm its reputation but failure to adhere to the stringent requirements of the Act in reporting a breach could result in it receiving a substantial fine.

    The information should not be the only trigger for your investment decision. We strongly recommend you seek professional financial advice whenever making financial investment decisions.

    Valuation: we initiate coverage on Tesserent with a valuation of $0.25/share (current SP $0.08).

    To view the video, please visit:
    http://www.abnnewswire.net/press/en/92143/TNT

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

    0 0

    Eon NRG Limited (ASX:E2E) (OTCMKTS:ICRMF) ("Eon" or the "Company") reports the recompletion of a well in the Silvertip Oil and Gas Field, Wyoming which was successfully perforated and brought into production on 8th of February.

    The 35-28F was perforation in a shallow gas reservoir. The recompletion was completed on budget and on time and with the excellent results below has an expected payout in 30 days.

    It has recorded a 15-day average initial production (IP) flow rate of 300,000 cu ft/d on a 12/64" choke with a stabilized flowing casing pressure of 450 PSI.

    Numerous other re-completion opportunities have been identified in Silvertip, following these results and further analysis is now in progress.

    The company is working towards acquiring high impact energy exploration project(s) with substantial upside and company changing opportunities to add to its mature cashflow portfolio of long life producing assets.

    Simon Adams
    CFO / Company Secretary
    Email: sadams@i-og.net
    Phone: +61-8-6144-0590
    Web site: www.eonnrg.com
    
    John Whisler
    Managing Director
    Email: jwhisler@i-og.net
    Denver Head Office: +1-720-763-3183
    
    Twitter: @EonNRG

    0 0

    Your directors present their report on NOVONIX Limited (ASX:NVX) (referred to hereafter as the 'consolidated entity') for the half-year ended 31 December 2017.

    HALF-YEAR HIGHLIGHTS

    - PUREgraphite anode material manufacturing pilot plant installed in Tennessee, USA

    - Growing sales of high-precision battery testing equipment since acquisition in 2017

    - C$500,000 funding received from Government of Canada to grow the BTS business

    - Strengthening of the NVX Board with Admiral Robert Natter and Andrew Liveris, AO

    - A$5m in placements undertaken, including A$1m from Mr Liveris and Admiral Natter

    - 100% early conversion of A$16.1m convertible notes by investors

    - Strong growth and outlook for the global Lithium Ion Battery market

    - Executing on the strategy of the delivering world's highest-precision battery testing equipment and new high-performance battery materials

    OVERVIEW

    The first half of FY2018 saw NOVONIX Limited ('NOVONIX' or 'the Company') make strong progress in executing its downstream integration strategy into the lithium-ion battery (LIB) market via the establishment of the PUREgraphite joint venture in the USA to manufacture high-performance anode materials, along with the acquisition and integration of the NOVONIX Battery Testing Services business (BTS), headquartered in Canada.

    The Company strengthened its financial position with the 100% early conversion of A$16.1m convertible loan notes and the raising of an additional A$5m in equity to fund operations of the new joint venture, and to fund further expansion plans for the BTS business.

    The Company strengthened its Board with the appointment of Admiral Robert Natter and agreement to appoint Andrew Liveris later this year, with them collectively investing A$1m as part of the $5m in equity raisings during the period.

    The PUREgraphite joint venture in Tennessee, which commenced in April 2017, has made significant progress in its first nine months, fine tuning product designs, production methods and its supply chain, while establishing a pilot manufacturing facility to demonstrate capability and to produce samples for customer qualification programs. The PUREgraphite joint venture is on track to make our anode material product commercially available from July 2018 with a minimum 1,000 tpa production capability expected and higher production capabilities planned for implementation.

    NOVONIX currently has a 50% interest in the PUREgraphite joint venture and holds an option to increase this interest to 75%. PUREgraphite has a team of twelve people now actively working within the PUREgraphite business based in Chattanooga Tennessee. The team includes our CEO, Dr Edward Buiel, five engineers, five technicians, and part-time support staff.

    The NOVONIX Battery Testing Services business, acquired in June, has exceeded our expectations over the first seven months of ownership, with strong growth in sales achieved, and expansion and diversification of the business underway.

    The Company also advanced the Mining Lease and Environmental Authority applications for the Mount Dromedary Graphite Project in North Queensland, Australia and we expect to have these granted in 2018.

    Overall the first half of FY2018 has seen the company perform to expectation and in line with plans and we are well-positioned to introduce our new PUREgraphite anode material to the market and to grow sales for our BTS business in the second half of FY2018.

    To view the full report, please visit:
    http://abnnewswire.net/lnk/8RVW2184

    To view Half Year Update Presentation, please visit:
    http://abnnewswire.net/lnk/A7X1UKNS

    CORPORATE
    Brisbane, Queensland, AUSTRALIA
    Contact: Philip St Baker
    Email: phil@novonixgroup.com
    Telephone: +61-438-173-330
    
    BTS FACILITY
    Bedford, Nova Scotia, CANADA
    Contact: Dr Chris Burns
    Email: chris@novonixgroup.com
    Telephone: +1-902-449-9121
    
    PUREgraphite FACILITY
    Chattanooga, Tennessee, USA
    Contact: Nick Liveris
    Email: nick@novonixgroup.com
    Telephone: +1-989-859-3213

    0 0

    Genex Power Ltd (ASX:GNX) has had the privilege to be a part of the newest media case study from the Climate Council, a non-profit organisation focused on providing independent, authoritative climate change information to the Australian Public.

    As part of the case study, the Climate Council has released a short film about the Kidston Renewable Energy Hub. The film depicts the difficulties that the township faced following the closure of the Kidston Gold Mine and the subsequent revitalisation as a result of Genex Power's existing and future developments.

    The film is an excellent display of the benefits that have resulted, and that will continue to result, from rehabilitating an abandoned gold mine, including local employment and economic stimulation.

    Furthermore, it paints the backdrop for the world's first renewable, dispatchable and affordable electricity scheme in addition to providing a perfect precedent for the rehabilitation of Australia's growing abandoned mining sites.

    The various links can be found at the following pages:

    http://www.facebook.com/climatecouncil/

    http://twitter.com/climatecouncil/status/966522341206315010

    http://www.climatecouncil.org.au/kidston-solar-project

    Simon Kidston
    Executive Director
    T: +61-2-9048-8852
    Email: sk@genexpower.com.au

    0 0

    MMJ PhytoTech Limited (ASX:MMJ) notes the attached press release by Harvest One Cannabis Inc. (CVE:HVST) ("Harvest One") confirming that Harvest One intends to mandatorily convert certain of its convertible debentures into common stock on or about 28 March 2018. Post conversion, MMJ's current shareholding of 53,333,333 common shares in Harvest One will be 34.5% (see Note below) of the total outstanding shares.

    Note: Subject to future conversions of other convertible instruments and warrants issued by Harvest One

    To view the press release, please visit:
    http://abnnewswire.net/lnk/3DG8T9TF

    Investor Enquiries: 
    Jason Conroy 
    Chief Executive Officer 
    E: info@mmjphytotech.com.au 
    
    Media Enquiries: 
    Sam Burns 
    Six Degrees Investor Relations 
    M: +61-400-164-067

    0 0

    Liquefied Natural Gas Ltd (ASX:LNG) (OTCMKTS:LNGLY) submit their report for the half-year ended 31 December 2017.

    REVIEW AND RESULTS OF OPERATIONS

    Liquefied Natural Gas Limited (LNGL or the Company) holds a strong competitive position in the mid-scale LNG industry with our LNG projects: Magnolia LNG, in Lake Charles, Louisiana, USA and Bear Head LNG in Richmond County, Nova Scotia, Canada. Our North American projects have successfully achieved milestones that provide indisputable evidence that Magnolia LNG and Bear Head LNG should be at the forefront of supplying the next wave of global LNG demand.

    The Magnolia LNG project enters 2018 shovel ready and first in-line to satisfy demand for new LNG supply. Our team is solely focused on completing our marketing of Magnolia LNG's offtake capacity in order to take FID (a financial investment decision). The project has all required US Federal Energy Regulatory Commission (FERC) and US Department of Energy (DoE) permits and approvals, has construction price certainty through its industry competitive LSTK engineering, procurement, and construction (EPC) contract price with KSJV (a KBR - SKE&C joint venture led by KBR), certainty of gas supply, equity via a commitment from Stonepeak Infrastructure Partners, and a debt financing process led by BNP Paribas.

    For LNG buyers attempting to determine which US greenfield LNG project is most likely to succeed and thus to contract with, you must look no further than Magnolia LNG. Once bankable offtake is sold, Magnolia LNG will move straight to financial close and construction. The project has no other obligations to meet. As LNG developments are considered, Magnolia LNG is the most viable greenfield liquefaction project in the world today.

    Likewise, Bear Head LNG has completed its regulatory permitting process. Bear Head markets itself as a viable outlet for stranded Canadian natural gas resources looking for economic access to global LNG markets, demand, and pricing. Bear Head is uniquely positioned as a key component of an East Coast Canada export strategy.

    In keeping with our promise to shareholders, LNGL managed its liquidity consistent with our stated plans. We closed December 2017 with the Company's total cash position at A$33 million (A$29 million in cash and cash equivalents plus A$4 million in investments in term deposits classified as Other Financial Assets on the Statement of Financial Position). The Company has no debt.

    To view the full report, please visit:
    http://abnnewswire.net/lnk/Z99C104J

    Liquefied Natural Gas Ltd
    T: +1-713-815-6900
    WWW: www.lnglimited.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 it has contracted four major EU based settlement merchants, with an estimated annual Gross Processing Turnover Value (GPTV) book value in excess of EUR200m (+A$310m).

    Highlights

    - First four EU settlement merchants contracted, with estimated GPTV book value in excess of EUR200m annually (+A$310m)

    - First revenue from EU merchants expected in March quarter
    Total contracted settlement GPTV globally is in excess of A$400m/pa

    The various agreements are deemed material, with a resulting positive contribution on revenue over the term of each of the evergreen agreements. The contracting process includes an extensive customer due diligence process per the stringent EU regulatory requirements, including identifying and verifying all beneficial owners with a greater than 10% stake in the contracting party.

    The merchants are all within the derivatives, CFD and securities merchant category.

    Merchants are citing iSignthis' patented Paydentity(TM) integrated payments and identity verification platform as a key reason for contracting with iSignthis.

    Two of these four new merchants are in the final stages of integration, with the Company anticipating revenue contribution to commence within the March quarter, and revenue then scaling more fully throughout the June quarter.

    Integration planning for the other two merchants is underway, and GPTV contribution of the merchants will be included with the appropriate update to market in the quarter that they become active.

    Total contracted GTPV book value for the global iSignthis group settlement merchants is now in excess of A$400m, on an annualised basis. Merchant Services Fee (MSF%) is expected to average 100bps across the global GPTV.

    Once integrated, the newly contracted merchants will build on the existing revenue base currently generated from payment processing, KYC and payment settlement of existing customers and merchants as previously reported in the quarterly reports and to be detailed further in the Appendix 4D for the 1HFY18 on Wednesday 28th February.

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

    0 0

    Investigator Resources Limited (ASX:IVR) announces the completion of three RCP holes to test the Trojan Induced Polarisation ("IP") target as projected in the Annual General Meeting in November 2017. All three holes, drilled between 252m and 275m downhole depths, intersected extensive iron sulphides without targeted copper sulphides being observed. Assays are awaited, with no significant copper values anticipated. The Trojan target lies within the 100% IVR-held Peterlumbo tenement (see Figure 1 in link below) 5km southeast of the Company's Paris silver project 42Moz Mineral Resource.

    Three 400m-spaced reverse circulation percussion ('RCP') holes drilled in mid-February 2018 to test the large Trojan IP target intersected pyritic metasediments without visible copper sulphide.

    - The pyritic metasediment can be interpreted as the southern pyritic halo to Nankivel porphyry system. Hence the location of central copper-prospective zone is revised.

    - Assays are awaited to investigate metal ratio vectors to potential adjacent targets.

    - Focus will continue to advance the Paris silver project with:

    o A four-hole program of deeper RCP drilling completed last week in the prospective south-eastern Paris extension.

    o Induced Polarisation ('IP') survey completed in early February is being assessed for satellite silver targets.

    o Further drilling planned in March at Paris and satellite targets.

    Investigator's Managing Director John Anderson said "The drilling showed the strongest IP anomaly (see Figures 2 & 3 in link below) in the Nankivel porphyry system results from pyrite in network fractures and quartz veining, and is interpreted as the outer pyritic zone to the system. This implies the drilling has over-stepped any copper-prospective centre to the system, north of and most likely significantly deeper than the recent drilling (see Figure 4 in link below). Investigator will not undertake any further sole exploration on the Nankivel Project. A joint venture partner will be sought to fund further exploration.

    Investigator will continue to focus on the nearby Paris silver project. Following the Trojan program, four holes were also recently completed with the larger RCP drill rig in the south-eastern Paris extension zone. Assays are awaited." Mr Anderson added.

    As referred to in TABLE 1, Appendix 1 (see link below), three holes were drilled and are summarised in Table A.

    Table A: Drill collars for the reported drilling program for the Trojan Drilling, Peterlumbo Tenement

     
    ----------------------------------------------------------------------
    Hole ID  Easting   Northing    RL (m)  Azimuth  Dip   Total depth (m) 
    ----------------------------------------------------------------------
    PPRC468  598,839   6,383,781   226     20       -65   252 
    PPRC469  598,579   6,384,265   240     0        -90   269 
    PPRC470  598,090   6,384,098   220     20       -65   275 
    ----------------------------------------------------------------------
    
    Additional Information

    Refer to Appendix 1 for 'TABLE 1: Peterlumbo Tenement, Trojan Reverse-Circulating Drilling, Visual Results February 2018 - JORC 2012', information relating to the compliance of the 2012 edition of the JORC Code. This includes Section 1 - sampling Techniques and Data and Section 2 - Reporting of Exploration Results.

    To view tables and figures, please visit:
    http://abnnewswire.net/lnk/19W7O21Q

    Mr John Anderson
    Managing Director
    Investigator Resources Limited
    E: info@investres.com.au
    T: +61-8-7325-2222
    
    Mr Peter Taylor
    Investor Relations
    NWR Communications
    E: peter@nwrcommunications.com.au
    T: +61-41-203-6231

    0 0

    On 12 February 2018, Prospect (ASX:PSC) announced that it agreed to extend the period to complete the proposed $10m placement to Sinomine Resource Exploration Co Ltd (Sinomine) to 31 March 2018. Prospect granted the extension at Sinomine's request.

    As previously announced, Sinomine's reason for requesting an extension was to allow for further time to discuss:

    1) the terms of the Definitive Build and Transfer Contract and the Definitive Facility Agreement; and

    2) the potential acquisition of the Arcadia lithium project, via either:

    a) an offer to acquire a minimum of 51% of Prospect; or

    b) an offer to purchase 100% of the Arcadia lithium project directly.

    In granting the extension, the directors considered Sinomine's ambition to become a leading battery minerals company, the central role that Prospect's Arcadia lithium project might play in their strategy and the benefits to Prospect's shareholders of being engaged with a significant participant in a key market for its lithium products. The directors also noted that Sinomine appears to be quickly executing its strategy as evidenced by its conditional agreement (in conjunction with Shenzhen Oriental Fortune Capital Co., Ltd) to purchase the DRC operations of Tiger Resources Ltd (ASX:TGS) (principally cobalt assets, see Tiger Resources announcement dated 22 January 2018) for some US$260m.

    The directors are pleased to advise that Sinomine is continuing to implement its strategy and that it has announced that it has agreed to purchase Jiangxi Dongpeng New Materials Co., Ltd (Dongpeng) for some 1.8 billion Yuan (approximately US$280m) to be settled in shares and cash. We are advised that, Dongpeng is one of the main suppliers of lithium fluoride which is a key raw material of lithium-ion electrolyte in China, as well as the largest manufacturer and supplier of caesium salt and rubidium salt in China. Dongpeng's main products are: battery grade lithium fluoride, lithium hydroxide, caesium carbonate, caesium sulphate, rubidium carbonate, rubidium nitrate and other lithium, rubidium, caesium products. Dongpeng's products are supplied to both domestic and foreign customers, including customers in the United States, Europe, Japan and South Korea.

    As Sinomine transforms itself into a leading battery minerals company, their need for security of supply of raw materials becomes critical. The Director's believe that Prospect's Arcadia lithium project is one such key element to this supply chain and Sinomine is evolving into a strong industry partner for Prospect.

    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

older | 1 | .... | 222 | 223 | (Page 224) | 225 | 226 | .... | 321 | newer