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 | .... | 232 | 233 | (Page 234) | 235 | 236 | .... | 321 | newer

    0 0

    MMJ PhytoTech Limited (ASX:MMJ) ("MMJ") is pleased to announce the appointment of Jim Hallam as Chief Financial Officer ("CFO") of MMJ effective on 3 April 2018.

    Jim is an experienced senior finance executive and replaces Lisa Dea who will retain her role as CFO of Harvest One Cannabis Inc. (CVE:HVST) (Harvest One).

    MMJ's CEO Jason Conroy commented: "We are very pleased to have attracted a CFO of Jim's calibre to assist me in growing MMJ's global cannabis investment business. I would like to thank Lisa for her dedication to MMJ and look forward to her continuing contribution to our largest investment, Harvest One."

    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

    White Rock Minerals Limited (ASX:WRM) (White Rock) today announces the successful completion of the placement of fully paid ordinary shares (Shares) to institutional and sophisticated investors, as announced on 21 March 2018 (Placement). The Placement raised $1.6 million (before costs).

    A total of 159,824,134 Shares have been issued under the Placement at an issue price of $0.01 (1 cent) per Share. The Shares issued under the Placement will rank equally with existing shares.

    The proceeds from the Placement will be used to fund White Rock's exploration activities at its Red Mountain Project in Alaska and general working capital purposes.

    DJ Carmichael Pty Limited acted as lead manager to the Placement.

    Please see the Appendix 3B and cleansing notice in relation to the issue of the Shares also announced today.

    Matt Gill (Managing Director & Chief Executive Officer)
    Or Shane Turner (Company Secretary)
    Phone: +61-3-5331-4644
    Email: info@whiterockminerals.com.au
    WWW: www.whiterockminerals.com.au

    0 0

    New drill assays and detailed studies on core from the Silica Hill Prospect at Impact Minerals Limited's (ASX:IPT) 100% owned Commonwealth Project 100 km north of Orange in New South Wales, further demonstrate the large scale and high grade nature of the mineralised system in the area.

    Managing Director Dr Mike Jones said "Following the recent discovery of high grade gold and very high grade silver veins at Silica Hill, these new results are a further breakthrough for Impact as it demonstrates the system extends over an area of at least 500 metres by 500 metres in dimension and also to considerable depth. We are also recognising different units within the Silica Hill rhyolite that are an important control on the mineralisation and may also be the upper parts of a deep rooted intrusion that could be mineralised over a significant vertical extent. This augers well for our 2018 drill programme.

    CMIPT072

    Hole CMIPT72 is the eastern most hole drilled thus far at Impact's emerging high grade gold-silver discovery at Silica Hill (see Figure 1 in link below). The hole intersected two zones of strong silica-sulphide alteration with anomalous gold and silver values over a combined thickness of more than 200 metres down hole including a high grade gold and silver vein within the upper zone indicating significant potential for more veins nearby, in particular to the south (see Figure 1 in link below).

    The upper zone in Hole 72 returned:

    - 46 metres at 0.04 g/t gold and 5 g/t silver from 200 metres down hole including

    - 0.4 metres at 2.5 g/t gold and 327 g/t silver from 257.2 metres (the narrow vein).

    The lower zone returned 67 metres at 0.3 g/t gold and 1 g/t silver from 402 metres down hole.

    Change in orientation of mineralised trend

    In addition detailed studies on drill core show that the two east-west trending mineralised structures at Silica Hill become more north west-south east orientated to the east and that the Silica Hill rhyolite is more extensive at depth to the south than previously recognised (see Figure 1 in link below).

    Accordingly Hole 72 has been drilled at the northern edge of these particular structures and the structures are open to the south east and at depth.

    The southern mineralised structure has good grade and geological continuity over a strike extent of at least 150 metres and recently returned high grade gold and very high grade silver results within the north west trendng part of the zone. For example Hole CMIPT077 (see Figure 1 in link below) returned an intercept of:

    - 22.5 m at 1.7 g/t gold and 276 g/t silver from 166.7 metres down hole;

    including 0.3 m at 1.8 g/t gold and 4200 g/t (135 ounces or 0.42%) silver from 174.4 metres;

    also including 0.8 m at 13.6 g/t gold and 40 g/t silver from 187.7 metres.

    This structure has not been drilled at depth nor along trend to the east (see announcement 13 February 2018 February and Figure 1 in link below).

    The northern mineralised zone whilst of lower grade also demonstrates very good continuity and recently returned a very thick intercept of:

    - 117 metres at 0.3 g/t gold and 11 g/t silver from 74 metres down hole.

    This is the thickest zone of mineralisation found in the northern zone to date and also suggests that, similar to the southern zone, that lower grade mineralisation is increasing in thickness and grade at depth and to the east. This is very encouraging and further drilling is also warranted here.

    Recognition of new porphyry unit

    The change in orientation of the mineralised trend is also associated with a chemically distinct porphyry unit newly recognised in detailed geochemical data routinely collected by Impact (Type 1 Porphyry, see Figure 1 in link below). This porphyry unit separates the two mineralised structures at Silica Hill and is an important control on the geometry of the ore shoots (see Figure 1 in link below).

    Of note, the Type 1 porphyry is similar in composition to the porphyry unit at the Commonwealth deposit 150 metres to the west and comprising a gold-silver rich base metal massive sulphide lens and veins and disseminations of gold and silver mineralisation.

    This suggests a common link between the two mineralised areas and importantly indicates that this new porphyry unit could be the top of a pipe or sheet like feature that extends to some depth. This is a key feature of the model previously proposed by Impact for the area which suggests the entire system may be underlain and be driven by a porphyry copper-gold similar to Cadia-Ridgeway and North Parkes (see announcement 31 July 2017 and Figure 2 in link below).

    Next Steps

    The robust and significant results delivered from Silica Hill from the 2017 drill programme continue to demonstrate the potential for bulk mining and to significantly increase the resources at the Commonwealth Project, which currently stand at 720,000 tonnes at 2.8 g/t gold, 48 g/t silver, 1.5% zinc and 0.6% lead (see announcement 19 February 2015).

    Large areas of this system still remain untested by drilling and it is evident that there is signficant exploration upside in the area (see Figure 1 in link below). The nature of the mineralisation at Silica Hill with the extensive visible silver minerals proustite and pyrargyrite is unique in Australia and a detailed review and synthesis is in progress of all the drill hole data including assays, hand held XRF data and geological and structural data with the aim of identifying further controls on the mineralisation.

    This work has been used to identify the next round of drill targets with the next drill programme to commence as soon as practicable. Statutory approvals for new drill pads have been lodged and negotiations are in progress to extend the Land Access Agreement with the main land holder at Commonwealth-Silica Hill. Further timing will be annnounced as soon as possible.

    A resource update will be completed following the completion of the next drill programme in Q3-Q4 this year.

    In addition further results from the nearby Welcome Jack Trend have recently been received and are being interpreted.

    Also, in the past two months significant field work has been completed on cobalt-copper-gold and silver-lead-zinc prospects at the Broken Hill Project and also on the company's Clermont gold project in Queensland. Rock chip assays from this work are due within the next two to three weeks.

    To view figures, please visit:
    http://abnnewswire.net/lnk/V55154LC

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

    0 0

    Carbon Dollar X is an asset backed Cryptocurrency, tied to the value of the global carbon credit market. The assets are valued at greater than two times the hard cap of the token offering, verifiable via audited financials, with an estimated increase of five to fifteen percent (15%) per annum.

    Carbon Dollar X is initiating the first cryptocurrency that will be fully backed by hard assets and carbon credits. The Carbon Dollar X exchange platform is being developed as a proprietary integration of technologies. The exchange based on "Distributed Ledger Technology" elevates Carbon Dollar X above the noise of other crypto currencies, especially those that employ speculative manipulation totally for their market value, who are increasingly under scrutiny and vulnerable.

    The company has assembled an executive team with decades of experience in international banking, investment banking, currency trading, IT and software specialties. All investments in CDX Ethereum ERC20 token contracts are backed in full by hard assets with 10% of all Carbon Dollar X value will be dedicated to humanitarian goods and services.

    The last time a global currency was asset-backed was the United States Dollar before 1971. Since then virtually all world currencies have been based on the full faith and credit worthiness of central banks and future productivity of citizens. Carbon Dollar X alleviates an inherent weakness found with fiat currencies by tying its value to a viable commodity, like carbon credits.

    Competitive Advantage

    The obvious advantage is the asset backed nature of the cryptocurrency allowing for stability and expansion.

    Carbon Dollar X is designed to be resistant to volatile trading. There are three key factors in creating a currency: 1) an asset or object of value, 2) a unit of currency and 3) a market. Carbon Dollar X will be and have all three.

    Executive Team

    Alan Marrullier - Chief Executive Officer, has over thirty years of diversified experience in finance, management, information technology, and business development. Mr. Marrullier is a past Managing Director at Citibank for over twelve years.

    Douglas L. Johnson - Chief Financial Officer

    Ian Percy - Chief Technology Officer

    Private Token Sale Overview

    Token Name: Carbon Dollar X
    Token Ticker: CDX
    Token Sale Target: Hard Cap at $680,000,000.00 USD
    Total Tokens Issued: 200,000,000 Tokens
    Token Price: 1 Token = $4.00

    Discount Price

    During the initial phase of the Private Token Sale, discounted prices will be available during the sale of the first 80'000'000 Tokens as follows: Sale of first 20'000'000 Tokens = $3.00 USD per Token Sale of following 20'000'000 Tokens = $3.50 USD per Token Sale of following 40'000'000 Tokens = $3.75 USD per Token

    Token Distribution:

    Public - 180,000,000 Tokens (90%)
    Management & Employees - 20,000,000 Tokens (10%)

    To download the WHITEPAPER, please visit:
    http://abnnewswire.net/lnk/CU10KGH1

    PARTICIPATE IN THE ICO here;
    http://www.abnnewswire.net/lnk/7ANCNTFH

    Leo Lopez
    The Lopez Group
    M: +61-468-466-349
    W: thelopezgroup.com.au

    0 0

    Australian Securities Exchange and Frankfurt Stock Exchange cross list iSignthis Ltd (ASX:ISX) (FRA:TA8), the world leading RegTech for identity verification and payment services, is pleased to announce that it's Australian subsidiary, iSignthis eMoney (AU) Pty Ltd, has executed a payment aggregation agreement with American Express Australia ("AMEX").

    Highlights

    - iSignthis eMoney (AU) Pty Ltd, a subsidiary of the leading RegTech payment and identity verification provider iSignthis Ltd, is now an aggregator for American Express., one of the major card schemes.

    - Aggregator services compliment Paydentity RegTech offerings

    The AMEX service will compliment ISXPay(R) offerings to merchants in Australia, and will allow ISXPay to onboard merchants directly.

    Under the agreement. the Company will purchase AMEX processing at a pre-agreed wholesale Merchant Services Fee (MSF) rate, and then is able to on-sell to merchants under its usual Merchant Services Fee (MSF) plus flat fee structure.

    The Agreement contains provisions for AMEX direct MSF management of larger or preexisting merchants enabled via the ISXPay(R) network.

    Card Scheme & Payment Service Update

    ISXPay(R) is a Principal Member of three card schemes, including Mastercard Worldwide, JCB International and Visa Inc, and is able to offer card acquiring, processing and settlement services across the European Economic Area and Australia. The addition of AMEX Is highly complimentary to our core payment services.

    The ISXPay(R) service offering is further complimented by Trustly, Sofort and Polipayments, all of which are available as a pure payment service, or in conjunction with out Paydentity(TM) Customer Due Diligence / eKYC platform.

    Integration will commence on AMEX immediately, with approximately a 3-4 month integration and certification window before it can be made live to merchants.

    In the meantime until full integration is completed, ISXPay(R) is able to process AMEX transactions for a flat fee, but does not receive any MSF contribution.

    ABOUT AMERICAN EXPRESS (NYSE:AXP)

    AMERICAN EXPRESS, IS:

    - the world's largest card issuer by purchase volume

    - processes millions of transactions daily as the premium network for high-spending cardmembers

    - helps small business owners succeed by delivering purchasing power, flexibility and financial control

    - provides commercial payment tools and expertise that help companies control their spending and save billions of dollars

    - offers marketing and information management insights that help merchants build their businesses

    - the customer loyalty experts with industry-leading rewards programs and platforms

    - the operator of one of the world's largest travel networks

    - recognized as the most innovative company in its industries

    - dedicated to serving its customers, 24/7, around the world

    http://about.americanexpress.com/oc/whoweare/
    http://ir.americanexpress.com/?inav=about_investor_relations

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

    0 0

    Cervantes Corporation Limited (ASX:CVS) (Cervantes) is pleased to inform the market it has undertaken a comprehensive review of the gold exploration potential of the Primrose Shear. This shear is related to high grade gold mineralisation that was mined historically (see Figure 1 in link below). The review took in work done by previous explorers as well as records from historic gold producers in the Paynes Find Gold Field. In recognition of the significance of this mineralised shear, the area is referred to as the Primrose Project.

    - Focus has swung to potentially large tonnage shear-related gold targets

    - Untested gold geochemistry anomalism recognised

    - Four untested shear-related gold targets to be confirmed with aircore drilling along the Primrose Shear

    - Historically defined gold mineralisation at Pansy Prospect to be drilled for confirmation and expansion

    - Tenders for the drilling have been invited

    - Programmes of Work submitted to the DMIRS

    - Regulatory approvals awaited

    Cervantes controls in excess of 8km strike length of the Primrose Shear. The package of tenements includes mining leases which are the subject of an ongoing acquisition from European Lithium Ltd (CVS' ASX release on 15 Nov., 2017) and a number of Cervantes owned tenements (see Table 1, Figure 2 in link below).

    The aim of the review was to identify opportunities not pursued by previous workers and, where appropriate, materially increase and validate the mineralisation previously defined.

    A large body of drilling at the Carnation Prospect has been ear-marked for a detailed analysis.

    Regional opportunities

    The historic workings in the project area were based on at surface, late stage, quartz-vein related gold mineralisation. This style of gold, while generally of a high grade, is discontinuous and size limited. Past explorers were distracted from pursuing the greater prize of a potentially much larger tonnage target by these historic occurrences.

    The following references are made in respect to historic exploration data that are the subject of announcements to the ASX by Paynes Find Gold Ltd (ASX:PNE) on 14 June, 2011 and 19 November, 2012 and Cervantes Corporation Limited (ASX:CVS) on 4 May, 2017.

    Consultants CSA Global undertook a field-wide study for the purpose of improving understanding of the structural and lithostratigraphic controls on mineralisation with implications for exploration targeting. The following critical conclusions were drawn:

    - Two major gold mineralising episodes are recognised:

    o Shear related quartz veining with high-grade gold in boudinaged quartz veins hosted by gneiss. This was the main target for historic mining activities (Type 1 mineralisation).

    o Lower grade, but consistent gold mineralisation along the sheared contact between mafic amphibolite and gneiss (Type 2).

    o Extensive quartz veining containing gold mineralisation in the western mafic / ultramafic sequence (Type 3 mineralisation). This is an under explored gold target.

    - The gneissic terrain that hosts the historic workings are a lower priority target because of the inconsistent gold mineralization.

    - The sheared and intensely altered contact between the mafic unit and the gneiss should be the prime focus. This target is likely to exhibit consistent and significant thicknesses and may be open to depth and along strike.

    The two styles of gold mineralisation are shown schematically in Figure 3 (see link below). Type 1 gold mineralisation was extensively pursued in the past. Intercepts such as 3m at 92.1g/t gold (Au) in drill hole PFRC120 represent this type, while intercepts such as 12m at 6.61g/t Au in hole PFRC116 (PNE announcement 21 Nov., 2012) are interpreted to represent Type 2 gold mineralisation. While lower grade, this type has the ability to be present in much higher tonnages and total contained gold.

    The Primrose Shear related gold target has not been fully pursued by previous explorers, yet presents as the greatest opportunity in this historic gold field. Of the approximately 8km of strike Cervantes controls on this shear and its offshoots, only 0.55km has been drill tested.

    An initial three pronged exploration programme has been designed to begin the process of systematic, target focused, model driven testing of this highly auriferous area.

    Regional sampling programme

    The regional review has identified seven prospects for follow-up with four being chosen for testing with aircore (AC) drilling during the current phase of exploration, namely Blue Bell, Princess Mary, Goodingnow, and Pansy. (see Figure 4 in link below). All lie on flexures in the Primrose Shear and have associated with them elevated surface geochemistry gold signatures. The aim of this work is to identify parts of the Primrose Shear that are auriferous as a pathfinder for deeper RC drill testing. Seventy holes are planned.

    Pansy Pit

    The Pansy Pit (see Figure 4 and 5 in link below) was mined in 1912-13 and produced at an average grade of 17.4g/t Au. It represents the currently known southernmost extension of known gold mineralisation along the Primrose Shear.

    Cervantes has reviewed all previous work, including drilling undertaken by Falcon Australia Limited in 1987 ("Summary of Pansy Prospect, Paynes Find for Falcon Australia", A.Peerless, K.H.Morgan & Assoc., 1987, DMIRS report A21516). Field inspections were also done. On the basis of structural and lithological geometries present, extents indicated by historic drilling, possible strike and down dip extensions recognised by Cervantes, and gold grades intercepted that drilling, a notional exploration target of 10,000t to 35,000t at a grade of 2.0g/t to 4.5g/t gold has been estimated. This is based upon 21 RC holes (see Figure 5, Appendices 1 and 2 in link below) in conjunction with aeromagnetic data interpretation as well as field mapping both regionally and within the existing pit. The potential quantity and grade of this target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

    Sixteen RC holes for 550m to test down-dip, up-dip and along strike of the historic holes are planned (see Figure 5 in link below). Drilling is pending Programme of Work assessment by Department of Mines Industry Regulations and Safety (WA) and are expected to be completed by July, 2018. This data will be used to confirm and extend the known mineralisation as a prelude to possible resource definition drilling.

    Carnation Prospect

    The previous explorer, Paynes Find Gold (PNE), focused its extensive drilling campaigns on the footwall side of the Primrose Shear within the Paynes Find Gneiss. This gneiss, bounded by the Primrose Shear to the west and the Daffodil Shear to the east, forms a rigid brittle body that hosts the vein swarms that host the historically mined high grade, low tonnage, late stage veined gold. Insufficient continuous mineralisation was defined by PNE to estimate an economic resource.

    Drill holes that were collared in the hanging wall amphibolites to the west tended to indicate the potential for thicker intersections of more continuous gold mineralisation.

    A more in-depth review of this particular prospect is planned. This will include assaying of drill hole sections not yet sampled, mapping of alteration to determine if there exists an alteration signature to the gold, and a synthesis of litho-structural controls on gold mineralisation.

    About the Primrose Project

    The Primrose Project covers in excess of 8km of the highly gold mineralised Primrose Shear in the Murchison District of the Eastern Goldfields, Western Australia. Over 37 gold mines, of various sizes, operated in this field from 1911 till 1982. Some 63,000 ounces of gold was mined at an average grade of 25g/t during this period. It is generally accepted that significantly more gold than this was won from alluvial and unreported production.

    Cervantes now controls 20 mining leases, prospecting licences, and an exploration licence that cover the majority of this historic gold field. A large database of drilling, surface geochemistry, geological, and geophysical data has been assembled to allow the field to be better understood than at any time in its history.

    To view figures, please visit:
    http://abnnewswire.net/lnk/N308TBO2

    Collin Vost
    Executive Chairman
    T: +61-8-6436-2300
    E: cvost@cervantescorp.com.au

    0 0

    Liquefied Natural Gas Limited (ASX:LNG) (OTCMKTS:LNGLY) (LNGL or the Company) through its 100% owned project company, Magnolia LNG, LLC (Magnolia) and Meridian LNG Holdings Corporation (Meridian LNG) have agreed to extend the financial close date of their legally binding offtake agreement to 30 June 2018. This three-month extension allows both parties to maintain commercial flexibility. All other provisions of the governing agreements not specifically amended by this extension remain in full force and effect.

    LNGL's agreement with Meridian LNG was signed on 23 July 2015 and included firm capacity rights at Magnolia for up to 2 mtpa for an initial term of 20 years with an option to extend by a further five years.

    Mr. Micah Hirschfield
    Sr. Manager, Communications and Investor Relations
    Liquefied Natural Gas Limited
    T: +1-713-815-6920
    E: mhirschfield@lnglimited.com
    
    Mr. Andrew Gould
    Joint Company Secretary
    Liquefied Natural Gas Limited
    T: +61-8-9366-3700
    E: AGould@lnglimited.com.au

    0 0

    Carnarvon Petroleum Limited ("Carnarvon") (ASX:CVN) (OTCMKTS:CVONF) is pleased to provide the following update on its near-term drilling program as advised by the operator, Quadrant Energy.

    Highlights

    - The drilling rig for the Phoenix South-3 well is expected to be on location around 5 April 2018, being a short delay caused by cyclone Marcus passing the tow path for the rig

    - The well is expected to commence drilling operations (spud) around 10 April 2018

    - Phoenix South-3 well is only ~560 metres from the Phoenix South-2 gas and condensate discovery

    - This well will target an estimated gross mean recoverable prospective resource of 489 Bscf of gas and 57 million barrels of associated condensate

    - Gas and condensate in the Phoenix South structure is in addition to that in the Roc structure

    The GSF Development Driller-1 semi-submersible drilling rig (pictured below) is in the final stage of its journey from Port Louis (Mauritius) to Australia on the way to drill the Phoenix South-3 well. Towing speeds have had a minor impact on the original expected arrival date, particularly the consequence of cyclone Marcus passing in front of the planned tow route. The rig is now expected to arrive on location around 5 April 2018 and be ready to commence drilling around 10 April 2018.

    The objective of the Phoenix South-3 well is to assess the gas and condensate discovered at the top of the Caley interval in the 2017 Phoenix South-2 well (refer CVN ASX announcement on 19 December 2016 and 28 March 2017). The well is to be located only some 560 metres from the Phoenix South-2 well. The Phoenix South-3 well design has been constructed to specifically allow for the evaluation of this Caley interval, unlike the Phoenix South-2 well that was designed to evaluate a broader range of reservoir intervals.

    The Phoenix South structure at the Caley interval is estimated to contain a gross mean recoverable prospective resource of 489 Bscf of gas and 57 million barrels of associated condensate (being 143 million barrels of oil equivalent ("boe"), gross, Pmean) - Refer to ASX Announcement on 28 March 2017. The estimated condensate-to-gas ratio is very significant and is based on surface gas sampling from a permeable section at the top of the Caley Sandstone encountered while drilling the Phoenix South-2 well.

    The above gas and condensate is in addition to that already discovered and initially appraised in the Roc structure, also in the Caley interval. That structure is estimated to contain a gross contingent resource (2C) of 332 Bscf of gas and 19 million barrels of associated condensate (being 74 million barrels of oil equivalent ("boe"), gross, 2C).

    Carnarvon Petroleum                        20% 
    Quadrant Energy (Operator)                 80% 
    

    To view figures, please visit:
    http://abnnewswire.net/lnk/G687T73U

    Mr Thomson Naude
    Company Secretary
    Phone: +61-8-9321-2665
    Email: investor.relations@cvn.com.au

    0 0

    Mithril Resources Ltd (ASX:MTH) is pleased to advise that further high-grade nickel-cobalt mineralisation and multiple zones of disseminated nickel sulphide mineralisation have been intersected in its first drilling program at the 100%-owned Kurnalpi Nickel-Cobalt Prospect (located 70 kms north east of Kalgoorlie, WA - see Figure 1 in link below).

    - Drilling intersects further high-grade nickel-cobalt mineralisation at Kurnalpi;

    o 12m @ 0.54% nickel, 0.10% cobalt from 34 metres in 18GDSRC004 including;

    -- 4m @ 0.70% nickel, 0.16% cobalt from 36 metres

    o 12m @ 0.69% nickel, 0.07% cobalt from 26 metres in 18GDSRC003 including;

    -- 4m @ 0.86% nickel, 0.10% cobalt from 26 metres

    - Drilling also intersects disseminated nickel sulphide mineralisation beneath the nickel-cobalt mineralisation which represents the first evidence for nickel sulphides at the prospect;

    o 36m @ 0.57% nickel, 155ppb PGE's from 26 metres in 18GDSRC002

    o 4m @ 0.62% nickel, 282ppb PGE's from 142 metres in 18GDSRC002

    - Downhole EM geophysics to take place next week with further ground EM geophysics and drilling to commence as soon as possible thereafter

    Management Comment

    Mithril's Managing Director Mr David Hutton said that the Company was greatly encouraged by the initial "proof of concept" drilling results.

    "The intersection of further near surface high-grade nickel-cobalt mineralisation and recognition of nickel sulphides plus 3.5 kilometres of poorly tested prospective rocks along strike to the south of the main prospect makes Kurnalpi a high priority for follow-up"

    "Downhole EM geophysical surveying of the recent holes will take place next week with further ground EM geophysics and drilling to commence as soon as possible thereafter".

    Discussion of Results

    Four Reverse Circulation holes (18GDSRC001 to 004 - 768 metres) were drilled to validate historic nickel-cobalt drill intercepts, to test for nickel sulphides, and to determine the significance of new ground EM geophysical conductors recently identified by Mithril (see ASX Announcement dated 7 February 2018) immediately east of the main Kurnalpi Prospect (see Figure 3 in link below).

    The Kurnalpi Prospect is underlain by a weathered sequence of ultramafic rocks high in magnesium oxide (MgO) that are prospective for nickel and cobalt mineralisation along with mafic and metasedimentary rocks. Nickel - cobalt mineralisation occurs towards the base of weathering as a flat lying zone developed preferentially over the ultramafic rocks (see Figure 2 in link below).

    Drill holes 18GDSRC003 and 18GDSRC004 both intersected zones of significant nickel - cobalt mineralisation at the southern end of the prospect, including (see Figures 4 and 5 in link below);

    - 12m @ 0.54% nickel, 0.10% cobalt from 34 metres in 18GDSRC004 including 4m @ 0.70% nickel, 0.16% cobalt from 36 metres, and

    - 12m @ 0.69% nickel, 0.07% cobalt from 26 metres in 18GDSRC003 including 4m @ 0.86% nickel, 0.10% cobalt from 26 metres.

    As well as intersecting the near surface nickel-cobalt zone, drill hole 18GDSRC002 also intersected a 4 - metre zone of gossanous weathered ultramafic and several narrow intervals of disseminated sulphide mineralisation within the underlying fresh ultramafic rock, assaying of which returned strongly anomalous levels of nickel, platinum + palladium ("PGE's") and copper (see Figure 6 in link below);

    - 36m @ 0.57% nickel, 0.02% cobalt, 155ppb PGE's from 26m metres (nickel-cobalt zone) including 4m @ 0.47% nickel, 0.01% copper and 622ppb PGE's from 52 metres (gossan zone),

    - 2m @ 0.48% nickel, 0.09% copper from 128 metres and,

    - 4m @ 0.62%Ni, 282ppb PGE's from 142 metres

    The association of elevated PGE's and/or copper with the nickel is characteristic of magmatic nickel sulphides and as such, the 18GDSRC002 results represents a major technical advance for the area given that nickel sulphides have not been previously recognised within Mithril's tenement.

    Significantly the nickel sulphide mineralisation remains open in all directions and will be a priority (along with the nickel-cobalt) for follow-up.

    A fourth hole (18GDSRC001) was drilled to test one of the new ground EM conductor east of the main ultramafic unit. The hole intersected a broad zone of disseminated and stringer iron sulphides (pyrrhotite - pyrite) within a metasediment at the modelled conductor depth from which no significant results were returned.

    Next Steps

    Mithril is greatly encouraged by the results which clearly justify the continuation of exploration at both the prospect and along strike to the south where the Company has over 3.5 kilometres of poorly tested prospective ultramafic rocks, including a historic drill hole (KURA50) which intersected 20m @ 0.69% nickel, 0.07% cobalt from 32 metres including 8m @ 0.96% nickel, 0.09% cobalt from 36 metres and was never followed-up (see ASX Announcement dated 7 February 2018).

    Mithril plans to follow-up the latest drilling results and the historic KURA50 intercept with a program of ground EM geophysics and drilling (once necessary statutory approvals for the drilling have been received) in the June 2018 Quarter.

    As a first step downhole EM surveying of the four recent holes will commence late next week.

    To view tables and figures, please visit:
    http://abnnewswire.net/lnk/58I29Z12

    Mithril Resources Ltd
    David Hutton
    Managing Director
    E: admin@mithrilresources.com.au
    T: +61-8-8132-8800
    F: +61-8-8132-8899
    www.mithrilresources.com.au

    0 0

    Xped Limited (ASX:XPE) ("Xped" or "the Company") is pleased to announce the appointment of Mr John Schultz as an executive director, effective from 30 March 2018.

    Mr Schultz holds a Bachelor of Engineering in Electronics Engineering, is a serial entrepreneur having successfully founded developed several companies over the last two decades, specialising in the design, manufacture and business development of electronics systems. Mr Schultz has a wealth of experience running design and manufacturing businesses, managing staff and subcontractors and secured significant international business, exporting vehicle immobilisers to Malaysia for aftermarket distribution and direct fit to Honda. These contracts saw a peak of 30 employees locally employed and managed at Technology Park. Mr Schultz's involvement in the group encompasses system specification, design, product design and manufacture, resource management and developing commercialisation opportunities. Mr Schultz was previously an executive director of the Company before relinquishing his role as a director to concentrate on executive management.

    Xped also wishes to advise that Mr Athan Lekkas has resigned as a director of the company effective from 30 March 2018. Mr Lekkas was instrumental in transforming the listed entity from a resources company to one with important technologies in the Internet of Things ("IoT") sector. The board thanks Mr Lekkas for his valuable contribution over the past years, and wishes him the best of success in his future endeavours.

    Attached (see link below) is the Final Director's Interest Notice for Mr Lekkas and the Initial Directors Interest Notice for Mr Schultz.

    The material terms of Mr Schultz's services agreement are as follows.

    Remuneration: fixed at $250,000 per annum, with no additional fee for duties as a director;

    Contract Term and Termination: the initial two year term of Mr Schultz's contract expired on 23 March 2018 and was extended by 6 months, with termination by either party on one month's notice.

    To view the attachment, please visit:
    http://abnnewswire.net/lnk/D2A6VVX6

    For more information:
    Contact Xped Limited
    T: +61-3-9642-0655
    F: +61-3-9642-5177
    E: info@xped.com
    www.xped.com 
    
    CORPORATE ENQUIRIES:
    E: ir@xped.com 
    
    MEDIA ENQUIRIES:
    Sean Whittington
    Field Public Relations
    T: +61-8-8234-9555
    M: +61-412-591-520

    0 0

    The board of Queensland Bauxite Limited (ASX:QBL) (QBL) is pleased to update the market on developments in the drug development strategy for its subsidiary, Medical Cannabis Limited (MCL). MCL, in conjunction with Certara, a pharmaceutical consulting firm, have developed a drug development strategy for the distribution of Canntab XR medication in the Australian market.

    The Certara team includes Dr Andreas Wallnoefer, who held a significant tenure as Global Head of Early Development at Roche and Dr Graham Scott, who prior to Certara, was European lead of Clinical Pharmacology at Takeda. The drug development team is led by Andrew Kavasilas, MCL's technical expert on cannabis.

    Highlights

    - The board has an effective mix of both pharmaceutical and cannabis expertise working on MCL's drug development strategy

    - MCL's strategy will position Canntab as a reliable and medical based 'product of choice'

    - Revenue is targeted in Australia in 2018 via Canntab sales under the Special Access Scheme

    - MCL is targeting broader adoption in pain relief through the clinical trial process

    Background

    Canntab is a Canadian based producer and distributor of medical cannabis pharmaceuticals, targeting various medical markets via its range of Canntab XR tablets. MCL is a diversified cannabis company with the rights to distribute Canntab products in Australia and Asia via the 50/50 Canntab Australia joint venture. Certara is a consulting firm assisting MCL evaluate potential drug development pathway's for the Canntab product suite.

    For more information on the MCL/Canntab joint venture and products, please see the following ASX announcement:

    http://abnnewswire.net/lnk/8TY23L1J

    Drug development strategy

    MCL's drug development strategy is to position the Canntab product as a reliable medical 'product of choice' that practitioners will be confident prescribing. Medical cannabis is still relatively difficult to access for patients in need in Australia, despite positive regulatory momentum over the last two years. Management believe the delivery mechanism of this patent pending GMP pharmaceutical grade extended release pill will be better appreciated by the regulatory and medical community compared to smoking or other delivery methods.

    Initial revenue is expected to come through the special access scheme (SAS), with Canntab products expected to be imported into Australia 1H 2018. While the special access scheme is currently limited in scale, the company will continue studies for broader market penetration in tandem with the SAS. The data generated from clinical trials can be utilised near term in marketing Canntab as a reliable 'product of choice' on the SAS.

    Near term, the company intends to confirm the following characteristics of Canntab XR tablets, to be tested in our own local clinical trials:

    - Canntab has a consistent and accurate dosage: MCL will complete pharmacokinetic studies to compare Canntab with alternative medical cannabis preparations. The aim is to substantiate the claim that Canntab has an optimal delivery system and low volatility in the targeted levels of THC and CBD in the blood.

    - Drug-drug interactions: Studies to determine the impact of the interaction of Canntab products with other drugs (e.g. alcohol).

    - Efficacy in reducing opioid use: Descriptive efficacy of pain relief including reduction in co-medicines (opioids) in Chronic Non Cancer Pain (CNCP). This can help determine to what extent Canntab may be able to take market share from incumbent medications and competing medical cannabis treatments.

    Management believe the Canntab pill will be competitively placed in the Australian market place given the concerns of the medical industry around the safety of smoked and vaporised cannabinoids.

    Value adding milestones ahead

    Management is focusing on delivery to the guidance of:

    - Secure Canntab supply in 1H2018 for delivery into special access scheme

    - Progress with market research program

    - Progress with clinical trial applications and strategy

    Comment from Pnina Feldman, Chairperson of QBL

    "We are pleased to update the market on MCL's progress in preparing the Canntab product to be market ready. We believe this product is well positioned compared to competing cannabis products and will make a lasting difference to many Australians in need. 2018 is shaping up to be a milestone year and we look forward to seeing the first revenues from our medical division shortly."

    To view figures, please visit:
    http://abnnewswire.net/lnk/01708J8T

    Queensland Bauxite Ltd
    Tel: +61-2-9291-9000
    
    For further information or any queries please email the Company at:
    sfeldman@queenslandbauxite.com.au

    0 0

    Australian Bauxite Ltd (ASX:ABX) provides the Company's 2017 Annual Report.

    REVIEW OF OPERATIONS

    This Review of Operations covers the 12 month period to 31 December 2017.

    Australian Bauxite Limited (ABx or the Company) is an emerging bauxite producer and exploration company listed on the Australian Securities Exchange (ASX) on 24 December 2009. Its ASX code is ABX.

    ABx currently holds 18 bauxite tenements in New South Wales, Queensland and Tasmania covering 1,390 km2 and operates its first mining operations at the Bald Hill bauxite project in Tasmania - see maps on cover. ABx's bauxite is high quality gibbsite trihydrate (THA) bauxite that can be processed into alumina at low temperature- the type in short supply globally. It is a bauxite free of quartz, alkalis and base metals, making it also ideal for cement-making. Some zones of grey-white bauxite may be suitable for manufacture of refractories, abrasives and chemicals.

    ABx's bauxite is ideal for upgrading into high value products and ABx has been carrying out research and development of two new technologies, namely TasTech physical upgrading and ALCORE chemical upgrading.

    ABx has declared JORC compliant Mineral Resources totalling 124.8 million tonnes (inferred 59.2 Mt, indicated 65.6 Mt - see resource statement in ASX release 25 August 2016) in New South Wales mainly around Taralga-Goulburn-Penrose inland from Port Kembla, a major deposit at Binjour in central Queensland inland from Bundaberg Port and in northern Tasmania extending from Campbell Town to Bell Bay in northern Tasmania. All tenements are 100% owned, unencumbered and free of third party royalties.

    During 2017, ABx made sales in excess of 38,000 tonnes of bauxite from the Bald Hill operations in Tasmania, which commenced in December 2014 as Australia's first new bauxite production project for more than 35 years.

    To view the full report, please visit:
    http://abnnewswire.net/lnk/MXMR6I06

    Australian Bauxite Ltd
    T: +61-2-9251-7177
    F: +61-2-9251-7500
    E: corporate@australianbauxite.com.au
    WWW: www.australianbauxite.com.au

    0 0

    Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) ("Company" or "Central") welcomes today's final determination from the ACCC to authorise joint marketing of Mereenie gas for the Mereenie Joint Venture for three years.

    Central agrees with the statement of ACCC Chairman Rod Sims that joint marketing allows further conventional gas in the Mereenie field to be developed sooner than it otherwise would, and Central looks forward to increasing supply to, and therefore competition in, the east coast gas market.

    Central Petroleum Limited
    T: +61-7-3181-3800
    F: +61-7-3181-3855
    E: info@centralpetroleum.com.au
    WWW: www.centralpetroleum.com.au
    
    Media Enquiries
    Martin Debelle at Citadel-MAGNUS
    T: +61-2-8234-0100
    M: +61-409-911-189

    0 0

    Cryptocurrency Exchange Binance.com (CRYPTO:BNB) advise that SYS/BNB (CRYPTO:SYS), SYS/BTC and SYS/ETH trading pairs are now available on Binance for trading. You can start depositing and trading SYS now.

    Syscoin is a blockchain platform that, like Bitcoin, facilitates extremely low cost transactions, but is focused primarily on creating the infrastructure necessary to bring businesses onto the blockchain. Instead of focusing solely on value transfer, Syscoin provides support for both decentralized and centralized marketplaces.

    The most interesting element of the Syscoin platform, however, is "Blockmarket"- Syscoin's combination wallet and marketplace. The Blockmarket wallet provides users with the tools necessary to both buy and sell as well as send and receive currency or encrypted messages.

    Syscoin Identities aims to store identity information off-chain with a blockchain anchor, which makes it possible for users to store a greater amount of identity information without slowing down the chain.This process also makes it possible for Syscoin to add features to and evolve the specification of Syscoin Identities without forking the network. Syscoin plans on developing their Identities solution in parallel with specifications outlined by the Decentralized Identity Foundation (DIF).

    Some of the most recent features rolled out by Syscoin are the most interesting, however. Late last year Syscoin announced the integration of token issuance functionality into the Syscoin platform. This feature could potentially allow users to create token-based loyalty programs, reward point systems, or even run their own ICOs on the Syscoin blockchain.

    Syscoin has also recently announced Instant Asset Transfer functionality, which has some strong real-world use cases that could be highly disruptive. Instant Asset Transfer on the Syscoin network could allow prediction market platform users to cash in and out of online casinos without waiting for long confirmation times or traditional fiat bank transfers, or allow users to use SYS for instant in-game purchases such as loot boxes or power ups.

    Max Supply: 888,000,000 SYS

    Circulating Supply: 531,896,740 SYS

    Issue Price: $0.0010

    To view the Whitepaper, please visit:
    http://abnnewswire.net/lnk/UOB3EMN6

    Website: http://www.syscoin.org

    0 0

    Environmental Clean Technologies Limited (ASX:ESI) (ECT or Company) provides the following update in relation to the previously announced proposed visit to Australia by its Indian project partners.

    The Company's announcement of 8 March 2018 stated that invitations had been sent to NLC India Limited (NLCIL) and NMDC Limited (NMDC) to visit Australia in late April, early May.

    NLCIL and NMDC have now confirmed acceptance of the invitation and, subject to Visa application requirements, intend to arrive in Australia between 29 April and 6 May.

    Further updates will be provided in due course.

    About Coldry

    When applied to lignite and some sub-bituminous coals, the Coldry beneficiation process produces a black coal equivalent (BCE) in the form of pellets. Coldry pellets have equal or superior energy value to many black coals and produce lower CO2 emissions than raw lignite.

    About MATMOR

    The MATMOR process has the potential to revolutionise primary iron making.

    MATMOR is a simple, low cost, low emission production technology, utilising the patented MATMOR retort, which enables the use of cheaper feedstocks to produce primary iron.

    About the India R&D Project

    The India project is aimed at advancing the Company's Coldry and Matmor technologies to demonstration and pilot scale, respectively, on the path to commercial deployment.

    ECT has partnered with NLC India Limited and NMDC Limited to jointly fund and execute the project.

    NLC India Limited is India's national lignite authority, largest lignite miner and largest lignite-based electricity generator.

    NMDC Limited is India's national iron ore authority.

    Glenn Fozard
    Chairman
    Environmental Clean Technologies Ltd
    E: info@ectltd.com.au
    WWW: www.ectltd.com.au

    0 0

    Noble Vici Group Inc. (OTCMKTS:NVGI) today announced the appointment of Sir Eldee Tang as its Chief Executive Officer, and that it is currently listed on OTC markets, under the symbol NVGI.

    Sir Eldee Tang said, "Today's announcement reflects our strategy to invest in the future, both in the leadership quality of the team and in emerging businesses that will chart our growth. This is an opportune time to expand our businesses globally and I look forward to the exciting growth opportunities that lies ahead."

    Sir Eldee Tang is a seasoned entrepreneur in the e-commerce and fintech industry. He is the recipient of numerous distinguished business awards including the Most Promising Entrepreneur Award from Asia Pacific Entrepreneur Award (APEA) in 2010 as well as the Global Outstanding Young Chinese Award by the Global Chinese Outstanding Youth in 2016. Last year, he was nominated and received his knighthood status by the Sovereign Order of Saint John of Jerusalem, Knights of Malta for his contribution on humanitarian efforts.

    Under the leadership of Sir Eldee Tang, the company has also released the news of the appointment of two senior executives. Mr Lim Yee Chuan has been named as the Chief Operations Officer, overseeing NVG's group operations, human resources planning and administration. Mr Yip Sin Chi has been appointed Chief Financial Officer and will oversee the financial management and performance analysis of the group.

    "Sir Eldee Tang is a remarkable entrepreneur who stands at the forefront of an emerging new generation of leaders in the e-commerce and payments space. I strongly believe that his breadth and depth of experience will steer NVG to new heights globally," said Mr Philip Soh, Director of Capital Markets at UOB Kay Hian Limited, Singapore.

    For more information, please visit http://www.noblevici.com/

    About Former Company

    Gold Union Inc. (GOLU) was an infrastructure developer with focus on gold nugget exportation and land development. Gold Union Inc. had its assets (Land Banking) held in Cambodia. Its primary focus was on land acquisition, road and logistical infrastructure development related to mining concession with the aim to operate a full-scale gold logistical hauling road and the eventual acquisition of the harbor.

    Investor Relations 
    Florence Fang
    Email:florence@flamecomms.com
    Phone: (65) 9768 8186

    0 0

    The National Stock Exchange of Australia (ASX:NSX) welcomes the findings of PricewaterhouseCoopers (PwC) contained in the report released yesterday, titled "Assessment of implementation of actions agreed with ASIC"

    NSX engaged PwC to assess the implementation of actions agreed with ASIC in its Report 538 in relation to the listing standards of the NSX for the period 1 July 2013 to 8 August 2016, published 28 August 2017.

    In summary PwC concluded that:

    - NSX's agreed actions have been implemented as of 15 March 2018;

    - NSX's agreed actions are effective as of 15 March 2018; and

    - NSX's proposed actions, as documented in its internal action plan and in its latest policies, procedures and guidelines as at 15 March 2018 address the recommendations in ASIC's report.

    Ann Bowering, Managing Director and CEO said, "Today represents a significant milestone for NSX as we position ourselves as the challenger listings exchange in the Australian equity capital market.

    In July 2016 we committed to an aggressive restructure of NSX, its operations and market access model. At the core of this work has been the delivery of higher standards across the business and a focus and commitment to continuous improvement. I am incredibly proud of the NSX team for their execution of this strategy, and achieving the regulatory expectations, in what was a compressed implementation timeline.

    The line in the sand created by PwC's findings will underpin the further development and implementation of our strategies for IPO innovation, lower cost access to capital, and equity capital market reform through competition."

    A copy of the report is available at http://www.abnnewswire.net/lnk/944PSV85

    NSX Contact:
    Andrew Musgrave
    Head of Business Development
    NSX Limited
    E: info@nsx.com.au

    0 0

    The directors present their report for the consolidated entity consisting of Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF) (formerly Emefcy Group Limited) and the entities it controlled at the end of, or during, the year ended 31 December 2017. Throughout the report, the consolidated entity is referred to as the Group.

    Multiple milestones achieved in 2017

    During 2017, Emefcy Group Limited successfully undertook the acquisition of the RWL Water Group, with all acquisition-related integration activities completed to form Fluence Corporation Limited. This has enabled Fluence to expand the global reach and market opportunities for its key products: desalination, wastewater treatment and wastewater-to energy.

    Notable successes include:

    - Innovation drove new market opportunities, including the first SUBRE product contract awarded to upgrade a centralised wastewater treatment plant in Israel. SUBRE enables compliance with tighter nitrogen discharge rules without using hazardous chemicals, while also increasing plant capacity and increase target markets;

    - The Group's Chinese subsidiary was incorporated and its manufacturing facility in Jiangsu Province is now operating. First production of MABR Modules was achieved in September 2017;

    - Progress in China with the signing of a framework agreement with partner Jiangsu Jinzi Environmental Science and Technology Company. The agreement contemplates the delivery of six Containerized Smart Packaged wastewater treatment plants based on Fluence's MABR technology (C-MABR);

    - Exclusive memorandum of understanding (MOU) signed with an African nation to design and construct an advanced water treatment plant;

    - EUR1.5 million contract signed with VINCI Construction Grands Projects (France) to supply three NIROBOX(TM) containerized seawater desalination units for the island of Mayotte;

    - US Virgin Islands MABR installation received approval from the US Environmental Protection Agency;

    - US$1.7 million contract executed with Irotop S.A., a leading Ecuadorian fish processing company, to purify wastewater from its tuna and sardine processing and packing plants;

    - Agreement executed with Stanford University to deploy, test for compliance with USA environmental regulations and measure the performance of Fluence's MABR wastewater treatment technology at Stanford's Codiga Resource Recovery Center. The MABR demonstration unit was commissioned in Q1 2018; and

    - Awarded the "2018 Global Decentralized Water & Wastewater Treatment Company of the Year" by Frost and Sullivan who noted the key benefits of Fluence's modular, decentralised systems, such as lower operating cost, easier maintenance, and lower capital outlays.

    To view the full report, please visit:
    http://abnnewswire.net/lnk/20550A1F

    Fluence Corporation Ltd
    T: +61-3-9824-5254
    E: info@fluencecorp.com
    WWW: www.fluencecorp.com
    

    0 0

    YPB Group Ltd (ASX:YPB) provides the Company's Annual Report to shareholders.

    Executive Chairman and CEO's Report to Shareholders

    Operational review and renew post July 2017

    I am pleased to report that, even though not outwardly evident, we have made major strides since July in getting back on track. The key actions taken over the past nine months have been:

    - Completing the Board's cost reduction programme instituted in early 2017 with $4.5m annualised cut from overhead by Q3 2017, which amounts to a 40% reduction. This has been achieved without the loss of operational capability.

    - Refining our focus to the Australia - South-East Asia - South Asia -China corridor.

    - Removing a layer of non-performing senior management.

    - Re-empowering the top quality remaining senior managers to drive the business at full speed.

    - Filling key personnel gaps with quality new hires.

    - Reviewing and refining our product offer and sales strategy to shorten sales cycles and expand our addressable market.

    - Reviewing and stabilising our technology base and its direction.

    - Reviving important partner and client relationships that had been neglected.

    - Enhancing our market access in several geographies via new, highly valuable partnerships.

    - Completing the acquisition of the next-generation forensic, mass market authentication technology Motif Micro, which has the potential to be a major value creator for YPB.

    The outcome of this programme is that the company is in 2018 the most match-fit it has ever been. We have a high-quality, enthusiastic and cohesive management team. Our unique technologies are in good shape with clear development roadmaps. Our product offer and sales strategies are sharp and likely to lead to faster revenue generation.

    To view the full report, please visit:
    http://abnnewswire.net/lnk/S77FC4OO

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

    0 0

    This annual report is of the group comprising Eon NRG Limited (ASX:E2E) (OTCMKTS:ICRMF) ("the parent entity") and its subsidiaries (see Note 24 to Financial Statements) (see link below) (collectively "the Group"). The Group's functional and presentation currency is US Dollars ($). Unless otherwise stated, all amounts in the Annual Report are in US Dollars.

    CHAIRMAN'S REPORT

    Eon commenced 2018 under its new name in February this year, with re-branding and revised energy vision to initiate a Battery Minerals division, and recent entry into Cobalt exploration. Our strong cashflow base from the production of oil, gas and NGL's continue to underpin the operations, and oil prices rising to over $60 in 2018 is most welcome.

    Continued expansion in the USA energy market, both in conventional oil and gas, and battery minerals is Eon's focus in 2018. Cobalt exploration properties have recently been acquired in Nevada, and others are under evaluation in Nevada and elsewhere. The changing energy market is something that your board has been following for quite some time, and considered that the timing was right to expand the company's energy asset base using our in-house geological and engineering expertise. Oil and gas continues to provide the solid cashflow for the company, and work continues to identify further economic oil and gas projects with new high impact oil well development opportunities to participate in, preferably as operator.

    Balancing the significant company changing upside of higher risk, high reward prospects and wells, with our base cashflow assets was paramount in our planning for 2018.

    To view the full report, please visit:
    http://abnnewswire.net/lnk/569328NM

    EON NRG Ltd
    Simon Adams, CFO
    T: +61861440590
    F: +61861440590
    E: sadams@i-og.net
    WWW: www.eonnrg.com
    

older | 1 | .... | 232 | 233 | (Page 234) | 235 | 236 | .... | 321 | newer