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Asia Business News

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    Myob Group Ltd (ASX:MYO) provides the Company's results webcast and transcript.

    To watch a replay of the webcast discussing MYOB's financial results for the twelve months ended 31 December 2017 please click here:

    To view the written transcript of the presentation, please visit:

    Investor and Analyst Enquiries
    Christina Nallaiah
    Head of Investor Relations
    T: +61-2-9089-9122
    M: +61-468-362-553
    Media Enquiries
    Lia Pacquola
    Head of PR, Corporate Communications
    M: +61-418-116-790

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    Hastings Technology Metals Limited's (ASX:HAS) (Hastings or the Company) is pleased to advise that it has signed a major non- binding offtake Memorandum of Understanding (MOU) with thyssenkrupp Raw Materials GmbH. Under the MOU the parties have outlined their intent to enter into a binding commercial offtake agreement for the sale and purchase of Mixed Rare Earth Carbonate ("MREC"), which will be produced from Yangibana, Western Australia. The framework for the commercial offtake agreement is set out in the MOU, and the final terms and conditions will be formalised in a contract.


    - Hastings announces its fourth offtake MOU with for the future supply of Mixed Rare Earth Carbonate (MREC) from its Yangibana project in Western Australia.

    - This MOU agreement is to supply 5,000 tonnes per annum for a period of 10 years.

    - Total of four MOUs signed so far represent approximately 73% of planned MREC annual production of 15,000 tonnes (see Note below) from Yangibana.


    The Parties have undertaken to negotiate in good faith to reach agreement for an exclusive commercial offtake contract for Germany, Europe and the supply chain of German and European companies worldwide.

    Charles Lew, Hastings Executive Chairman, said "This fourth MOU for an offtake agreement with thyssenkrupp Raw Materials GmbH brings our total supply commitment to 73% of Yangibana projected production.

    The Company will be accessing the capital markets to raise a substantial amount of equity during the year and we are currently conducting debt related discussions with global financial institutions for project finance loans.

    The execution of this MOU is an important step to providing the capital markets and project finance bankers with confidence to work with Hastings to bring this world class rare earth mine into production."

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

    Hastings estimates an annual production quantity of 15,000 tonnes of MREC (see Note below), which it will sell to offtake partners, with production targeted to commence in late 2019.

    The pricing formula shall be mutually agreed with reference to published index price for oxides plus a distributor margin.

    The MOU will lapse if there is no agreement executed with thirty six months of signing the MOU.

    Note: ASX Announcement 28 November 2017

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

    Charles Lew
    Executive Chairman
    T: +65-9790-9008
    Guy Robertson
    Finance Director
    T: +61-9078-7674

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    Mustang Resources Ltd (ASX:MUS) (OTCMKTS:GGPLF) provides the Company's latest Corporate Presentation.

    Montepuez Ruby Project - New Discovery

    - The Montepuez region in Mozambique represents a substantial share of the lucrative global ruby market

    - Mustang's initial bulk sampling confirms significant new ruby discovery on licences with scope for expansion

    - Shallow secondary deposits, with initial bulk sampling delivering gem quality rubies

    - Consistent recovery of full quality range including premium category stones

    - Mustang has 143sqkm of highly prospective ground and extensive secondary ruby mineralisation proven over 4,200m strike (open ended)

    Montepuez Ruby Project - Development

    - STRATEGY: Systematically build a resource base & generate revenue whilst doing so

    o Test pitting+ bulk sample + sales = JORC Resource

    - New high-grade and shallow ruby deposits excavated and being processed at present; ruby inventory expected to increase significantly

    - Initial processing of material from highly prospective deposits within new licence delivering exceptional results

    - Average grade increased 10% from October 2017 onwards compared with average grade for all previously processed material

    - Optimisation of processing plant with improvements and upgrades completed during December quarter 2017

    To view the full presentation, please visit:

    Managing Director
    Dr.Bernard Olivier

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    Diversified minerals explorer and developer Ardiden Limited (ASX:ADV) provides the opportunity to listen to an audio webcast with Brad Boyle, CEO and Executive Director in a presentation titled:

    "Ardiden Company Update"

    This webcast will be made available on the Boardroom Media website. To listen to the webcast, copy the following details into your web browser:

    The presentation details are as follows:

    Speaker: Brad Boyle, Executive Director & CEO

    Live date: Wednesday, 28 February 2018 at 2:00pm AEST.

    Brad Boyle
    CEO & Executive Director
    Ardiden Ltd 
    Tel: +61-8-6245-2050
    Michael Weir / Cameron Gilenko
    Tel: +61-8-6160-4900

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    The Prospectors & Developers Association of Canada's (PDAC) 2018 Convention - the world's premier mineral exploration and mining event - will commence in Toronto this weekend, marking its 86th year.

    PDAC President Glenn Mullan looks forward to welcoming the industry back to the Metro Toronto Convention Centre (MTCC), where more than 24,000 attendees from 130 countries attended in 2017.

    "The PDAC Convention is our largest industry event and provides mineral and mining professionals, as well as investors, analysts, geologists, executives, government officials and students, access to an array of programming, short courses, presentations and networking opportunities."

    "This four-day event will feature more than 400 presenters, giving attendees a chance to learn and discuss the latest trends, investment opportunities and technologies shaping the sector," adds Mullan.

    PDAC 2018 Convention highlights and attractions include:

    - The International Mines Ministers Summit brings Mines Ministers from around the world together in one important setting for third year in a row.

    - This year's Keynote Session: Industry Review - Lessons for the future

    - The Mineral Outlook Luncheon featuring A. Gary Shilling will discuss the outlook for minerals and metals in a world where the supply of almost everything exceeds demand.

    - Anaconda Mining Inc. virtual reality experience that will allow participants to experience open pit, underground mine developments and processing plant in 3D.

    - A selection of visually-stunning minerals from the Kirwin Collection, on loan from the Royal Ontario Museum, will be available for everyone to see up close in Trade Show North.

    - The Northern Ontario Mining Showcase features live demonstrations, training technology and even a robot!

    - The Royal Canadian Mint will display a variety of new gold and silver investment bullion coins and bars. A selection of collector coins will be available for purchase and enter a draw for a set of silver coins.

    Toronto is a major beneficiary of the PDAC Convention, injecting upwards of $70 million into its economy annually.

    The PDAC 2018 Convention takes place March 4-7 at the Metro Toronto Convention Centre. Visit for more information and check out the video.

    Media contact:   
    Kristy Kenny
    T: +1-416-807-8214

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    MMJ PhytoTech Limited (ASX:MMJ) ("MMJ" or "the Company") is pleased to provide its review of operations for the half-year period ended 31 December 2017.

    Investment Portfolio

    During the half-year period, MMJ announced it would focus on operating as a global cannabis sector investment company.

    As part of this focus, MMJ invested in the following companies:

    - ASX-listed life sciences company eSense-Lab Ltd ("eSense" or "ESE") (ASX:ESE). MMJ acquired 2,500,000 ordinary shares in eSense at the price of A$0.20 per share. Subject to ESE shareholders approval, MMJ will receive 1 free option for every 2 shares issued at a $0.30 exercise price and expiry date of 3 years from date of issue;

    - Canadian cannabis producer Weed Me Inc. ("Weed Me"). MMJ subscribed for C$2 million in secured convertible debentures, which are convertible into shares and warrants in Weed Me, based on pre-money valuation of C$9.2 million; and

    - Canadian healthcare company Dosecann Inc. ("Dosecann"). Post-period end, MMJ subscribed for C$2.5 million in secured convertible debentures, which are convertible into shares and warrants in Dosecann, based on pre-money valuation of C$11.5 million.

    In addition to the above investments, the Company maintained its two existing investments in Harvest One Cannabis Inc and PhytoTech Therapeutics Limited.

    Harvest One Cannabis Inc. (CVE:HVST) (MMJ owns 53,333,333 shares)

    Post-period end, Harvest One closed its "bought deal" offering of C$40,250,000 of units ("Units") of the Company, at a price of C$1.82 per Unit (the "Offering"), which included the exercise of the over-allotment option granted to the Underwriters (defined below) in full. Each Unit consisted of one common share ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share (a "Warrant Share") at an exercise price of C$2.30 per Warrant Share at any time up to 31 January 2020. In connection with the listing of the Warrants, Harvest One changed its trading symbol to "HVT".

    Post-period end, Harvest One entered into an engagement letter with Mackie Research Capital Corporation (as the lead underwriter and sole bookrunner), on behalf of a syndicate of Underwriters, including Haywood Securities Inc., and Eight Capital, to purchase a short form prospectus offering to C$35,000,000 of Debenture Unit ("Units") of the Company, at a price of C$1.82 per Unit (the "Offering Price").

    Harvest One intends to use the net proceeds of the Offering for the expansion of strategic indoor growing facilities, further development of its Satipharm Gelpell products, and for working capital and general corporate purposes. Accordingly, postperiod end, Harvest One wholly owned subsidiary, United Greeneries ("UG"), announced its expansion targets of 20,000kg dried cannabis flower capacity by YE 2018 and 70,000kg dried flower capacity by YE 2019 set to be fully funded by Harvest One's existing cash position of around C$80m.

    PhytoTech Therapeutics Limited (PhytoTech) (MMJ 100%)

    During the half-year, results from the Phase 1 Clinical Trial undertaken by PhytoTech were published. The article "Single-Dose Pharmacokinetics of Oral Cannabidiol Following Administration of PTL101: A New Formulation Based on Gelatin Matrix Pellets Technology" was published in Clinical Pharmacology in Drug Development ("CPDD").

    To view the full report, please visit:

    Andreas Gedeon
    Managing Director
    Phone: +1-250-713-6302

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    The directors present their report on the consolidated entity consisting of Greatcell Solar Limited (ASX:GSL) (OTCMKTS:DYSOY) and its controlled entities for the half-year ended 31 December 2017 and the auditor's review report thereon:


    The outlook for renewable energy in Australia continues to improve, albeit still in a rather meandering, uncoordinated way. New commercial PV solar projects are being installed at a record rate. At a recent roundtable at ANU in January the overwhelming comment from a cross section of industry and academic participants was that energy policy is still very underdeveloped and the absence of bipartisan agreement on policy and harmonisation with the states means that significant, long-term investment remains very apprehensive and partly sidelined. Certainly, there is ample room for further policy development and implementation and, in the absence of government leadership, it is where universities, for example, should fill the void. The proposed Snowy Hydro No.2 project also occupied a considerable part of the discussion and, to be fair to the federal government, was generally positively perceived. Internationally, we are observing similar trends. New projects are being installed at a record rate and in more and more countries. The trend is strongly driven by the Paris Accord of 2016.

    The Finkel Review by the Chief Scientist released in mid-2017 has also provided positive momentum and further helped brush aside the few remaining neo-conservative barnacles inhibiting progress on tackling climate change. Most, if not all, the negative arguments have been exposed for their lack of scientific substantiation and as thinly disguised attempts to protect the fossil fuel industry. However, until an immutable Clean Energy Target is agreed upon and adopted we will lag much of the world in seizing new energy as an opportunity to address climate change and create a substantial new industry in Australia. Clearly, though, the states recognise this situation and have partly filled the policy gap.

    Operational Highlights for the First Half Fiscal Year 2018

    - Perhaps, the most significant development in Perovskite Solar Cell (PSC) R&D during the 1HFY2018 was the emergence of the alternative P-I-N architecture as a credible alternative to Porous Carbon (PC). Although PC has its roots in EPFL owned IP, it is frequently overlooked in academic circles because it has lower conversion efficiency, despite significantly better stability. The academic world is fuelled by higher and higher efficiencies irrespective of their industrial potential. Hence, our focus initially on PC - meeting all significant IEC 61215 tests. However, P-I-N has the strong prospect of delivering both high industrial efficiency and long-term stability. For example, P-I-N cells are now being produced to achieve efficiencies of 20% or more. In an important industrialisation step, we have already translated this progress into high performing, Au-free cells. So far we have observed little or no thermal degradation at 85 degC and ongoing light-soaking testing is very encouraging. P-I-N is a potential 'kock-out' solution to both glass (Sheet-To-Sheet) and flexible (Roll-To-Roll) substrate applications.

    - The Major Area Demonstration (MAD) project that has benefitted from the advanced manufacturing expertise input of VDL ETG has taken further important steps forward, although the final financing arrangements have not been agreed and are subject to concluding negotiation between GSL, CSIRO and Government. There is not any major issue about participation and support, but it is more about navigating through various administrations, particularly as our project is somewhat bespoke. It is, however, considered to be very beneficial on all conventional assessment criteria and we are confident of getting all parties to sign-off very soon. In the meantime, we have begun orders for significant capital equipment, especially where there are long lead times. Negotiations have commenced with CBA, our lead banker, to provide a competitive capital equipment leasing package to lessen our capital needs.

    - We are always keenly focussed on minimising shareholder dilution and the $6 million ARENA grant provides considerable leverage on the $2.7 million shareholder equity raising and $2.4 million convertible notes from Tasnee. It is very gratifying and a testimony to our fortitude and world leading technology that 5 years of negotiation and evaluation had a very positive conclusion. Importantly, retail shareholders were in good company in the capital raising with strategic shareholder, Tasnee also strongly supportive of our next stage of scale-up and commercialisation. Given that all the new funding qualifies for ATO R&D rebate, the new funding, if carefully managed, translates into around $15 million of new development funds. GSL is entering a scale that can transform our vision into commercial reality.

    - We were pleased to successfully conclude our rebranding exercise where the Company's name(s) changed from Dyesol to Greatcell Solar. Marine Andre (Investor Relations) and Luca Sorbello (Sales) were principally responsible for the project which spanned actions such as a website upgrade, new product packaging and considerable trademark registrations around the globe. Our stakeholders appear very pleased with the way this activity was conducted and it heralds a new era in scale-up and commercialisation for our 3rd generation PSC PV technology.

    - From an operational headcount perspective and in order to better effectively drive our expenditure, we have lowered the number of employees from approximately 60 to 50 in the past 12 months. The key drivers have been (a) the shift from R&D to scale-up and commercialisation and (b) outsourcing a considerable amount of legacy research activities to collaboration partners such as EPFL, NTU and Solliance. We continue, however, to attract ongoing grant assistance in flagship projects such as Horizon 2020 - Apolo, meaning we have sacrificed none of our credibility and technology performance, despite a lower cost base. We are also very pleased that we have retained our entire management team, maintaining continuity with all key stakeholder relationships.

    To view the full report, please visit:

    Greatcell Solar Limited
    Richard Caldwell, Managing Director
    T: +61-2-6299-1592

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    Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF) is pleased to announce its continued global growth, winning contracts in the Philippines, and Argentina to provide its award-winning NIROBOX(TM) smart decentralised water treatment solutions.

    - Further growth in South East Asia, entering the Philippines with the commissioning of a NIROBOXTM solution to produce drinking water from seawater at a coastal resort

    - Further growth in South America, with Two NIROBOXTM units ordered by a municipality in Buenos Aires to provide relief to residents currently consuming highly contaminated water

    Commenting on the continued expansion of Fluence's NIROBOXTM solution, the Company's Managing Director and CEO Henry Charrabé said: "Fluence's decentralised treatment solutions continue to provide fast, effective options for production of potable water around the globe. Our entry into the Philippines with commissioning undertaken one week after order receipt, and further growth in Argentina, clearly show the increasing global reach of the Nirobox family of water treatment solutions, as well as the versatility of treatment options available from Fluence."

    Further growth in South East Asia, with Philippines market entry

    In the Philippines, Fluence provided a Nirobox SW (seawater) unit to a new resort facility, to produce 1,000 m3/day of desalinated, potable water for consumption. The unit was installed and operating within one week of receiving the order.

    This unprecedented commissioning timeline provided the resort an immediate, independent and reliable drinking water source. In addition, the highly compact seawater reverse osmosis (RO) pre-packaged system, which utilises advanced membrane technologies including energy recovery features, saves the resort physical space and reduces its energy consumption.

    Further growth in South America

    In Argentina, Fluence will provide its first two Nirobox BW (brackish water) units in South America to the Municipality of Berazategui, in the province of Buenos Aires.

    These brackish water treatment units will be installed in the industrial zone surrounding Buenos Aires and will supply 1,500 m3/day each of potable drinking water to two areas where residents currently only have access to highly polluted well water. The custom-designed units, which include advanced RO and ultraviolet (UV) filtration technology, are expected to be built, delivered and commissioned in under 5 months.

    To view figures, please visit:

    Henry Charrabé (USA)
    Managing Director & CEO
    P: +1-212-572-3766 
    Richard Irving (USA)
    Executive Chairman
    P: +1-408-382-9790 
    Ross Kennedy (Australia)
    Company Secretary & Advisor to the Board
    P: +61-409-524-442
    Investors (Australia):
    Ronn Bechler
    Market Eye
    P: +61-400-009-774
    Media (Australia):
    Tristan Everett
    Market Eye, Market Eye
    P: +61-403-789-096 
    Investors & media (USA):
    Gary Dvorchak, CFA
    The Blueshirt Group
    P: +1-323-240-5796 (US) or +86-138-1079-1480 (China)

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    MMJ PhytoTech Limited (ASX:MMJ) ("MMJ") advises that Harvest One Cannabis Inc.(CVE:HVST), the largest investment in MMJ's portfolio, has released the attached update in relation to its subsidiary United Greeneries.

    To view the release, please visit:

    Investor Enquiries:
    Jason Conroy
    Chief Executive Officer
    Media Enquiries:
    Sam Burns
    Six Degrees Investor Relations
    M: +61-400-164-067

    0 0

    Today, The Honourable Dr Anthony Lynham MP announced that Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) ("Central" or "Company") wholly owned subsidiary Central Petroleum Eastern Pty Ltd was the preferred bidder for the Queensland Government's tender for acreage (PLR201718-1-1) dedicated to domestic market. Please see map at Attachment 1 (see link below). Central applied for the acreage by partnering with Incitec Pivot Limited (ASX:IPL) a manufacturer of fertilisers and industrial chemicals, and significant consumer of natural gas. It is contemplated that the acreage would be developed in support of the long term viability of IPL's Gibson Island fertiliser facility in Queensland. As part of the arrangements being negotiated, Central and IPL are seeking to establish a 50:50 joint venture for the acreage with IPL providing up to $20 million of funding for exploration and appraisal of the acreage.

    "This award of acreage is designed to provide a pathway to preserving the Queensland manufacturing industry and to stimulate exploration in Queensland," said Richard Cottee, Managing Director of Central Petroleum Limited. "This year promises to be a year of exponential growth for Central with its drilling program in the Amadeus, the upgrade of the processing plant, and this exploration in Queensland."

    To view the attachment, please visit:

    Central Petroleum Limited
    T: +61-7-3181-3800
    F: +61-7-3181-3855

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    Argentinean focused lithium exploration company Lake Resources N.L. (ASX:LKE) ("Lake" or "LKE") is pleased to announce the signing of a landmark agreement with Jujuy Province, Argentina that confirms tenure of Lake's ~45,000 hectares of mining leases which covers Lake's Olaroz - Cauchari Lithium Brine Project and Paso Lithium Brine Project in Argentina.

    - Landmark agreement signed with Jujuy Province in Argentina confirms tenure of Lake's ~45,000 Hectares of leases in world class lithium production area

    - Leases adjoin lithium brine production and development projects in Jujuy, Argentina.

    - The Olaroz-Cauchari Lithium Brine Project and Paso Project are 100% owned by Lake.

    - Agreement signed with Lake's subsidiaries confirms tenure and the granting of Lake's leases in the world's prime lithium brine location.

    - Activity has been stalled for two years pending approvals - now effectively resolved with this agreement.

    - Leases were pegged prior to the recent rush for projects in the lithium sector in the same basin as Orocobre and SQM/Lithium Americas.

    - A significant value catalyst for Lake Resources.

    The applications adjoin the production leases owned by Orocobre and SQM/Lithium Americas and have the potential to display lithium in the same aquifers. Prime lithium brine areas were applied for "pre-boom" by the entities acquired by Lake Resources in November 2016.

    This landmark agreement, entered into with the Jujuy province, allows Lake to start work on advancing exploration efforts across these areas with preliminary work on environmental impact studies and community consultations to expedite drill access. Local administrative issues brought delays which are now effectively resolved with this collaborative agreement with the province, subject to the usual processing procedures.

    In Olaroz, Lake's leases extend 30km north-south adjoining Orocobre's Olaroz lithium production leases to the east. In Cauchari, Lake's leases extend 11km north-south adjoining SQM/Lithium Americas and Advantage Lithium/Orocobre's Cauchari lithium development leases to the west. Lake's Managing Director, Steve Promnitz, said: "This is a major step forward and a significant value catalyst for Lake Resources. This is one of the largest land holdings in one of the prime lithium brine basins of the world and it confirms Lake's substantial scale versus its peers."

    "The applications were made well before lithium assets commanded high valuations in Argentina. The leases are in the same basin as Orocobre, SQM/Lithium Americas, Advantage Lithium and LSC Lithium which have proven and indeed excellent lithium grades and are either in production or heading that way rapidly. The delay in granting has been worth the effort and this is clearly demonstrated from our neighbours which have rapidly developed lithium projects here."

    To view figures, please visit:

    Steve Promnitz
    Managing Director
    Lake Resources N.L.
    T: +61-2-9188-7864

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    Mustang Resources (ASX:MUS) (OTCMKTS:GGPLF) is pleased to announce that it has taken another key step in its strategy to establish Montepuez as a world-class ruby project, upgrading another exploration licence to a mining concession. The Government of Mozambique has issued Mining Concession 8955C over the area previously covered by Prospecting & Exploration Licence 8245L, which forms an integral part of the Company's Montepuez Ruby Project.

    The mining concession is valid for an initial term of 25 years, taking it up to 5 December 2042.

    The majority of the ruby bulk sampling and pitting conducted by Mustang over the past seven months has been undertaken on licence 8245L.

    Mustang will now complete an Environmental Impact Assessment ("EIA") and associated enjoyment of land ("DUAT") within 3 years from the grant of the Concession. Mine development must start within 24 months after the grant of the environmental licence or the DUAT, whichever is the latter, provided that production starts within 4 years after the mining concession being granted.

    Mustang Managing Director Dr. Bernard Olivier said: "The area covered by the new Mining Concession represents a crucial part of the deposit and most of the ground covered by our current bulk sampling and test pitting campaign. The granting of the Mining Concession marks another important step in our strategy to establish Mustang as a consistent supplier of ethically mined rubies".

    To view figures, please visit:

    Media & Investor Relations:
    Paul Armstrong
    T: +61-8-9388-1474

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    Core Exploration Ltd (ASX:CXO) ("Core" or the "Company") is pleased to announce a new high-grade intersection of 42.9m @ 1.39% Li2O at the BP33 Prospect within Core's 100%- owned Finniss Lithium Project near Darwin in the NT.


    - Wide and high- grade assays results returned from recent diamond drilling at BP33 Prospect include 42.9m @ 1.39% Li2O (drillhole FMRD004)

    - High-grade results are positive for pending assays from nearby drillhole FMRD0007 that recently intersected 86m of spodumene pegmatite (with the drillhole still in spodumene pegmatite at end of hole)

    - The wide spodumene intersection in FMRD007 is southeast of the BP33 historic pit and toward potential extensions at both BP32 and BP32W Prospects

    - Recent drilling highlights significant potential for extensions to the highgrade lithium pegmatites at BP33 Prospect

    - Final assays from recent BP33 2018 diamond drill core expected this month

    - BP33 maiden Resource estimate expected shortly after receipt of all assays

    - Drilling to re-commence testing for potential extensions to BP33 and adjacent BP32 and BP32W upon commencement of the dry season in Q2 2018

    - Resource upgrade drilling continuing at Grants located 5km from BP33

    The new high lithium grades in drillhole FMRD004 are positive for the nearby 86m spodumene pegmatite intersection containing high average concentrations of spodumene in FMRD007 (ASX - 19/2/18).

    The visual spodumene content of drill core from FMRD004 is comparable to that from recently drilled FMRD007 that has now been cut and delivered to the laboratory for assay (see Photo 1 in link below and refer ASX - 19/2/18).

    The nearby 86m intersection in FMRD007 is the widest interval of spodumene pegmatite ever drilled in the NT. As the drillhole ended within the spodumene pegmatite body, further drilling collared to the east at BP33 is planned to define the geometry of this pegmatite body.

    Results from the recent diamond and RC drilling confirm that the BP33 pegmatite is open at depth and along strike to the south. It is probable that the pegmatite body becomes broader with depth at the southern end of BP33 and plunges to the south under cover toward pegmatites at BP32 and BP32W prospects (see Figure 2 in link below).

    Pegmatites at BP32 & BP32W have been identified in historic trenching and verified more recently in shallow RAB drilling by Core. However, no RC or Diamond drilling has been conducted at either of these Prospects.

    BP33 is located only 5km south of the proposed development of the Grants lithium deposit, offering strong development synergies and potential for extending mine life at the Finniss Project.

    Next Steps at BP33

    The first phase of resource focused diamond drilling at BP33 has been completed with final assays from recent drillhole FMRD007 expected during March 2018.

    Core is planning to commence an initial resource evaluation at BP33 in late March 2018.

    Follow-up drilling is planned to better define the southward and shallow up-dip extension of the wide spodumene pegmatite body intersected by FMRD007 at BP33. Further drilling is also planned at both BP32 and BP32W Prospects as soon as the site becomes accessible in the dry season during Q2 2018.

    To view figures, please visit:

    Stephen Biggins
    Managing Director
    Core Exploration Ltd
    T: +61-8-7324-2987

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    Alara Resources Limited (ASX:AUQ) (OTCMKTS:ALULF) (Alara or Company) is pleased to report it has expanded its copper portfolio in Oman by acquiring an interest in the Awtad copper-gold Project located adjacent to the Daris copper-gold project.


    - The Project contains known occurrence of copper mineralisation based upon previous exploration.

    - The Project area adjoins one of Alara's existing JV projects in Oman (Daris Resources - Block 7) and bolsters the "hub and spoke" mining model considered in previous studies.

    - Alara will have an initial 10% project interest, with the right to increase to a 70% shareholding in Awtad Copper LLC.

    Awtad Copper Gold Project

    The Awtad copper project (the 'Project') includes a copper exploration licence (Block 8) of 497km2 granted to Awtad Copper LLC, and is contiguous with the Block 7 (587km2) which is part of another Alara joint venture with Al Tamman Trading Establishment (a wholly owned subsidiary of Muscat Overseas Group).

    The Company has signed a binding Heads of Agreement granting Alara an initial 10% interest in the Project and a right to increase to a 70% shareholding in Awtad Copper LLC.

    Alara first entered an agreement with Awtad Copper LLC in 2011. At that time, the Company had ten projects across four countries and three continents. In light of the limited progress that had been made on Block 8 relative to Alara's other projects (n.b. Alara was in the final stages of completing a Feasibility Study in Saudi Arabia), a decision was made to withdraw from the Project and focus on the zinc-copper project in Saudi.

    More recently, Alara announced a maiden ore reserve for the Al Hadeetha copper-gold project in Oman, underpinned by a 1 Mtpa copper concentration plant over an initial 10-year mine life (see Note 1 below). This Project acquisition supports a broader copper strategy for Oman which aims to consolidate Alara's portfolio of copper projects and potentially other copper assets.

    The Company previously reported rock chip samples from Block 8 (see Note 2 below) had returned multi-elemental enrichment of up to 2.68% Copper, 2.4ppm Silver, and 0.1% Zinc indicating potential base metal deposit below. This lead to a RAB drilling campaign. Based on that work some geophysical and geochemical targets were identified and these anomalies will now be revisited.

    Previous studies (see Note 3 below) considered transporting ore from Block 7 to a processing plant at Washihi, and/or heap leaching options. Adding Block 8 provides further upside and potential project synergies via a 'hub and spoke'' mining operation developed around shared processing facilities.

    Positive developments within Oman's mining sector, growing demand for copper, and the opportunity to create greater value through project collaboration, show the addition of Block 8 makes good sense for the Company and for copper mining in Oman.

    Key Terms

    (1) Alara Oman Operations Pty Limited (a wholly owned subsidiary of Alara Resources Limited) has entered into an Agreement with the licence owner, Awtad Copper LLC (JVCo).

    (2) Alara is entitled to earn-in up to a 70% shareholding interest in JVCo by funding exploration and evaluation and completion of a definitive bank feasibility study.

    (3) Alara will secure an initial 10% shareholding interest in JVCo based on its previous contributions to the Project (~OMR246,000). Alara will then fund further exploration, evaluation and development costs. After Alara has invested a total of US$1.5 million into JVCo, it will increase its shareholding in JVCo to 51%. This will increase to 70% upon the completion of a DFS.

    (4) Post completion of a DFS, the JVCo shareholders have to contribute any required equity funding or dilute in accordance with an industry standard dilution formula. If a shareholder's interest falls below 10%, that party shall assign its dividend and voting rights to the other shareholders in exchange for a 2% net smelter return.

    (5) Awtad Shareholders are entitled to a once-off election to maintain their interest at 49% (with Alara holding 51%) if a threshold resource of 20,000 or more tonnes of contained Copper has been delineated within the Project area (within a JORC Measured Copper Resource with a cut-off grade above 0.5% and an average grade above 2%) as at the date Alara has completed its 51% earn-in (prior to completion of a DFS). If the Awtad Shareholders exercise this election, on-going funding of JVCo (including to complete the DFS) will be pro-rata to JVCo's shareholding interest (ie. Alara 51% and Awtad Shareholders 49%).

    (6) JVCo will be governed by a 4 member Board with 2 nominees appointed by Alara and 2 by the local shareholders. Alara is entitled to appoint the Chairman, who has a casting vote, and also the Managing Director.

    (7) The agreement is also subject to conditions precedent, including JVCo renewing the exploration licence and settling any liabilities owed to its current shareholders.


    1 Refer Alara's ASX Announcement dated 24 January 2017.

    2 Collected 250m southeast of Hole AM12DD002 from oxidized, hematitic altered basalt (Gossan) having malachite stains - refer Alara's Half Year Report December 2012.

    3 Refer Alara's ASX Announcements dated 13 June 2014 and 19 February 2015.

    Justin Richard 
    Managing Director 
    T: +968-2449-1162
    Ian Gregory 
    Company Secretary
    T: +61-8-9322-3383

    0 0

    Argentinean focused lithium exploration company Lake Resources N.L. (ASX:LKE) ("Lake" or "LKE") is pleased to advise it will host an investor teleconference with Managing Director, Steve Promnitz, on Friday, 2 March 2017 at 10:30 am Australian Eastern Daylight Time, to discuss the recent developments regarding the landmark agreement with Jujuy Province, Argentina that confirms tenure of Lake's ~45,000 hectares of mining leases which covers Lake's Olaroz - Cauchari Lithium Brine Project and Paso Lithium Brine Project in Argentina, in a world class lithium production area adjoining lithium brine production and development projects in Jujuy Province, Argentina.

    This is a significant development for Lake Resources, as this is one of the largest land holdings of the prime lithium brine basins in the world and confirms Lake's substantial scale versus its peers.

    Conference call details:

    Date: Friday 2 March, 2018

    Time: 10:30 am AEDT, 7.30am Perth, (Thursday 6.30pm New York, 3.30pm Vancouver, 11.30pm London)

    Presenting: Lake Resources N.L. Managing Director, Steve Promnitz

    Please register for the call ahead of commencement at:

    Investors are encouraged to send questions regarding to ahead of the teleconference.

    A brief Q&A will follow the presentation in which a selection of fund managers, stockbrokers and high net worth investors have been invited to participate.

    Steve Promnitz
    Managing Director
    Lake Resources N.L.
    T: +61-2-9188-7864

    0 0

    White Rock Minerals Ltd (ASX:WRM) ("White Rock" or the "Company") wishes to advise that Fundamental Research Corp. ("FRC"), Canada's oldest and largest independent research firm, has initiated coverage of the Company and has released a Red Mountain Zinc - Silver Project and Mount Carrington Gold - Silver Project Valuation Report.

    MD&CEO Matt Gill said "The Company is looking forward to the upcoming exploration program at its globally significant high grade Zinc - Silver VMS Project at Red Mountain and is pleased with progress with the Feasibility Study at the Mount Carrington Gold - Silver Project.

    The Company has now had three recent independent valuations, initially by Independent Investment Research ("IIR") (ASX Announcement 11 July 2017), by DJ Carmichael ("DJC") (ASX Announcement 26 September 2017 and again on 13 February 2018) and now by Fundamental Research Corp.

    The Fundamental Research Corp. report values the Red Mountain Zinc - Silver VMS Project at A$42.6M, equivalent to 5 cents per White Rock share and the Mount Carrington Gold - Silver Project at A$29.6M, equivalent to 3 cents per White Rock share. Together with working capital of A$1.4M, the total value of these assets of the Company by FRC is estimated to be A$73.6M, equivalent to 8 cents per share.

    The previous DJ Carmichael Report valued the Red Mountain Zinc - Silver Project at A$52M, equivalent to 6 cents per White Rock share and the Mount Carrington Gold - Silver Project at equivalent to 2 cents per White Rock share, giving a total value of 8 cents per share. The previous Independent Investment Research Report valued the Red Mountain Zinc - Silver Project at A$52M, equivalent to 6 cents per White Rock share. These are not a value of the Company, but a value of the Mount Carrington and Red Mountain assets calculated by FRC, DJC and IIR.

    No New Information or Data

    This announcement contains references to exploration results and Mineral Resource estimates, all of which have been cross-referenced to previous market announcements by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

    To view the research report, please visit:

    Matt Gill (MD & CEO)
    Phone: +61-3-5331-4644
    Or Shane Turner (Company Secretary)
    Phone: +61-3-5331-4644

    0 0

    Xped Limited (ASX:XPE) ("Xped" or "the Company") is pleased to announce the appointment of Mr John Santich as a joint Company Secretary of the Company, effectively immediately.

    For more information:
    Contact Xped Limited
    T: +61-3-9642-0655
    F: +61-3-9642-5177
    Sean Whittington
    Field Public Relations
    T: +61-8-8234-9555
    M: +61-412-591-520

    0 0

    Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) ("the Company" or "Central") has been advised by the ACCC this morning that:

    1) the ACCC has today published a draft determination proposing to grant authorisation for Mereenie joint marketing subject to the following conditions:

    - a 3 year time limit (in which gas supply agreements can be collectively negotiated); and

    - a time limit of 31 December 2028 on the term of gas supply agreement that are sol collectively negotiated.

    2) the ACCC will today publish a determination to grant interim authorisation, such that it will be possible for the applicants to proceed to collectively negotiate immediately from that decision (subject to any gas supply agreements being conditional on final grant of authorisation and the conditions proposed for authorisation as noted above).

    Central will convene a joint venture meeting as quickly as possible to seek approval of the joint venture to allow the drilling at West Mereenie-26 to go ahead as scheduled, as well as the plant upgrade aimed at increasing processing capacity to around 63 TJ/d gross, of which 4 TJ/d will be used as fuel gas.

    Central Petroleum Limited
    T: +61-7-3181-3800
    F: +61-7-3181-3855

    0 0

    Lake Resources NL (ASX:LKE) provides the Company's latest Presentation titled "Large Scale - Jujuy Leases Heartland of Prime Lithium".

    Scale, Location - Jujuy

    Scale - Large Lease Area

    - ~45,000Ha -one of the largest holdings in Jujuy Province -owned 100%

    - Large battery makers want large scale lithium plays to secure future supply

    Prime Location - Jujuy

    - Adjoining lithium brine production and development in world's prime lithium location

    - Same basin as Orocobre, SQM/ Lithium Americas, Advantage Lithium

    Landmark Agreement

    - Signed with Jujuy Province

    - Confirms tenure & process after being stalled for 2 years

    Targeting Basin Margins

    - Lithium Salt Lake Basins are fault bounded -good targets for lithium brines & high flow rates -often under alluvial cover -most advanced brine projects expanding on margins

    Applied pre-boom

    - Areas applied for 2 years ago prior to recent boom in lithium brines;

    - Targeted basin margins when not popular

    Prime Location
    Heartland of Lithium brines

    - 3 Brine Projects
    ~45,000 Ha

    - Adjoining world class lithium brine production

    - Target extensions under cover

    Olaroz Project

    - Brine Project

    - Extends 30km North-South

    - Next to Orocobre, SQM/Lithium Americas

    Paso Project

    - Brine Project

    - Next to LSC Lithium

    Cauchari Project

    - Brine Project

    - Extends 11km North-South

    - Next to Orocobre/Advantage and SQM/Lithium Americas

    To view the full presentation, please visit:

    Steve Promnitz
    Managing Director
    Lake Resources N.L.
    T: +61-2-9188-7864
    IR (Henry) 
    M: +61-431-271-538

    0 0

    Interests associated with TA Associates Management L.P. ("TA Associates") have informed Speedcast International Limited (ASX:SDA) that they have sold down their 13.1% shareholding in Speedcast, effected through an underwritten block trade of shares to institutional investors.

    Speedcast Chair John Mackay thanked TA Associates for their long term involvement with Speedcast and commented that:

    "Edward Sippel, Michael Berk and TA Associates have been significant value add partners in the growth story that is Speedcast. It has been a pleasure to work with them as board members and as our most significant shareholder for a long period of time.

    On behalf of the board and fellow shareholders, I would like to thank you both for your sustained and disciplined efforts and support. Speedcast continues to execute very effectively as our recent results have demonstrated and we are excited about our future under Pierre-Jean's leadership and our strong institutional shareholder support"

    Speedcast Chief Executive Officer Pierre-Jean Beylier commented that:

    "Many thanks to Edward and Michael for their support as fellow board members and shareholders over a significant period of time through our listing on the ASX, ongoing M&A and transformational acquisition of Harris CapRock last year.

    We have created a world class company and I have enjoyed our interaction at a board level and having you as my largest shareholder for most of that journey. As we move forward, the management team continue to be very excited about the future growth prospects for Speedcast and I remain focused on delivering for my board and shareholders."

    TA Associates Managing Director and SDA Non-Executive Director Edward Sippel has issued the following statement to Speedcast:

    "TA Associates has thoroughly enjoyed helping Speedcast build a world class team and company throughout the course of our partnership. We strongly believe that Speedcast is well positioned for future growth opportunities under the leadership of Pierre-Jean Beylier, and we wish the company all the best for a successful future.

    On behalf of Michael Berk and myself, I would also like to express our sincere thanks to Chairman John Mackay and fellow board members for our time working together, as well as your support of and dedication to Speedcast. We have relished our very collaborative and productive relationship as we worked to help drive growth and create further value for the company, and wish you all the best."

    Dominic Gyngell
    General Counsel
    Speedcast International Ltd
    T: +852-3919-6896

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