DroneShield Ltd (ASX:DRO) Voluntary Escrow of Founder's Shares

June 21, 2018, 4:11 pm

≫ Next: Ardiden Ltd (ASX:ADV) Due Diligence Drilling Hits the Target Zones at Pickle Lake

≪ Previous: Blackham Resources Ltd (ASX:BLK) Appointment of Mr Tony James as Director

DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) ("DroneShield" or the "Company") is pleased to announce entry into a one-year voluntary restriction deed in relation to 14,438,334 fully paid ordinary shares (as well as 2,227,500 Class A Performance Shares, 2,227,500 Class B Performance Shares and 2,227,500 Class C Performance Shares) of the Company held by Mr. John Franklin, a founder of the Company, effective today.

The entry into the voluntary restriction deed confirms Mr. Franklin's previously-stated wish to remain a long-term shareholder of the Company, and not to divest his investment.

The Company has a relevant interest in all of the ordinary and performance shares referenced above because the Company effectively controls the exercise of the power to dispose of the securities, even though the Company cannot exercise any voting power in relation to the ordinary shares and has no ownership interest in the ordinary shares or performance shares. An initial substantial shareholder notice in respect of the Company's relevant interest in the ordinary shares is attached along with a copy of the executed voluntary restriction deed.

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

↧

Ardiden Ltd (ASX:ADV) Due Diligence Drilling Hits the Target Zones at Pickle Lake

June 21, 2018, 4:37 pm

≫ Next: Argent Minerals Limited (ASX:ARD) Agreement Executed with Kempfield Neighbours Facilitates Large Scale Project Advancement

≪ Previous: DroneShield Ltd (ASX:DRO) Voluntary Escrow of Founder's Shares

Canadian focused explorer and developer Ardiden Limited ("ADV" or "the Company") (ASX:ADV) is pleased to advise the diamond drilling program is progressing quickly with due diligence drilling program successfully hitting the I.F. target zone in each of the seven drill holes at the highly-prospective Kasagiminnis Lake Property in Ontario, Canada.

HIGHLIGHTS:

- First 7 drill holes from ongoing due-diligence drill program intercept the Iron Formation (I.F.) target zone at the Pickle Lake Gold Project

- Drilling confirms continuity of thick I.F. zones from close to surface with down hole widths of up to 43.7m (KAS-18-06), with mineralisation remaining open in all directions

- Drill program designed to verify substantial historic gold intercepts and to test extensions of key gold mineralisation zones, with a primary focus on the highly prospective Kasagiminnis Lake Property

- Results provide a greater level of confidence in the continuity of the mineralisation and potential of the Kasagiminnis Lake Property.

The due diligence drill program is focused on the Kasagiminnis Lake Property and has been designed to drill test and evaluate high grade historic gold intercepts and test mineralisation extensions of key gold mineralisation zones.

Historical results from the Kasagiminnis Lake Property reveal the gold mineralisation is structurally controlled and hosted within a north-east trending Iron Formation (I.F.) which lies within mafic and intermediate volcanic units. The gold also appears to be associated with sulphides replacing magnetite within the I.F., a common mineralisation style.

Historically, the I.F. unit has been found to be mineralised along a 1.4km section in the main Kasagiminnis zone with additional mineralisation intersected both along strike and in other parallel I.F. units and Intermediate Volcanics.

The first seven diamond drill-holes completed during this due diligence diamond drill program at the Kasagiminnis Lake Property (holes KAS-18-01 to KA18-07) have successfully intersected multiple I.F. target zones from close to surface. Ardiden confirms these drill holes have now been reviewed and logged by the Company's geological team and drill core samples are currently being cut and prepared for analysis at Activation Laboratories in Thunder Bay.

Visual logging of the drill cores has confirmed the presence of multiple I.F. layers from close to surface and remains open at depth, including impressive intersections: (refer to Table 1 in link below for a full list):

- Hole SA-18-06, intersected 43.70m combined metres of I.F. zones from 89.10m down-hole over a total down-hole thickness of approximately 164.5m.

- Hole KAS-18-02, intersected 37.60m combined metres of I.F. zones from 80.0m down-hole over a total down-hole thickness of approximately 154m; and

- Hole KAS-18-07, intersected 30.30m combined metres of I.F. zones from 54.70m down-hole over a total down-hole thickness of approximately 85.0m

Ardiden notes the width of the I.F. zones identified in the drilling are core lengths and the true widths of the zones are yet to be fully determined. Such information about the zones widths will be provided once the structures are better understood.

The true potential of the Kasagiminnis Lake Property location has not been fully drill-tested and the mineralisation remains open in all directions and at depth. The Company is targeting known gold mineralisation hosted in multiple I.F. zones and will continue to develop its geological interpretation of the Kasagiminnis Lake Property as further drilling and assay results are received.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/7ZKG8HX6

Investors:
Brad Boyle
Ardiden Ltd 
Tel: +61-8-6245-2050

Media:
Michael Weir / Cameron Gilenko
Citadel-Magnus
Tel: +61-8-6160-4900

↧

Argent Minerals Limited (ASX:ARD) Agreement Executed with Kempfield Neighbours Facilitates Large Scale Project Advancement

June 21, 2018, 5:03 pm

≫ Next: iSignthis Ltd (ASX:ISX) Cash Receipts - Performance Rights

≪ Previous: Ardiden Ltd (ASX:ADV) Due Diligence Drilling Hits the Target Zones at Pickle Lake

Argent Minerals Limited (ASX:ARD), (Argent, or the Company) is pleased to report that it has entered into a new agreement with the owners of the neighbouring Box Hill property to the north of the Company's freehold land at the Kempfield project in NSW. The new agreement replaces and supercedes the previous agreement announced on 27 June 2017.

Highlights:

- Option agreement with the owners of substantial neighbouring property - facilitates continued community support of exploration and feasibility work - as Argent prepares to drill Kempfield.

- The agreement allows Argent to rapidly expand its freehold land ownership to 5.4 square kilometres at any time up to June 2020, extendable to June 2022, on fixed property purchase terms.

- Kempfield de-risked as Argent pursues the newly identified large scale development scenario: a major zinc-silver-lead-gold project situated in large scale mining growth neighbourhood.

- Kempfield project area strategically located in proximity to rail and road infrastructure, and mining-supportive communities with skilled trade capabilities.

About the key terms of the agreement

Under the terms of the agreement, which reflects the Argent's excellent working relationship with its neighbours, the Box Hill owners have committed to not challenge the grant or validity of the Company's regulatory applications and permitting or ancillary titles related to mining and development approvals ('No Challenge').

During the term the agreement, Argent has the right, as well as the obligation under certain circumstances, to purchase the Box Hill property at any time up to 12 June 2020 on fixed commercial terms, extendable at the Company's sole discretion up to 12 June 2021. The agreement may be extended for a further year to 12 June 2022 on the agreement of both parties.

The purchase obligation arises in the event that Argent conducts any significant ground disturbances such as the construction of a mining operation (excluding trenching for exploration or testing purposes).

Under the terms of the agreement, Argent's obligation is to purchase the Box Hill property at the fixed price of $2.4 million (excluding GST) - the market value assessed by a licensed valuer in May 2018, and the following compensation.

Argent will compensate the owners by arranging the construction of a new house and out-buildings at another specified property belonging to the owners, all such improvements to reflect the design and specific attributes of the current improvements at Box Hill.

On completion of the agreement, Argent will then own the existing house and out-buildings at Box Hill, which the Company intends to utilise as a mine manager's residence and/or offices.

During the term of the agreement Argent will pay the owners $30,000 cash every six months, and issue $30,000 worth of ordinary Argent shares on each anniversary - both commencing by 5 July 2018.

Kempfield project de-risking

The agreement represents a significant de-risking of the Kempfield project.

Noise and dust studies performed in relation to the Company's 2013 Environmental Impact Study determined that, since the Kempfield project mainly occupies Argent freehold land surrounded by hills, the main 3rd parties that would be affected by a mining operation are the owners of the Box Hill property located immediately to the north.

The agreement addresses these identified project risks through an agreed relocation and transition support process for the Box Hill owners, together with agreed commercial arrangements and the No Challenge provisions, as Argent continues to advance the project through further exploration drilling.

Argent retains the right during the agreement term to increase its existing freehold land at Kempfield from 115.8 to approximately 540 hectares (5.4 square kilometres) through exercise of the option. The option area includes the copper-gold footwall zone located to the west of the current Kempfield resource, as well as the historic Colossal Reef copper mine, which are both included in the next drilling programme.

The map in Figure 1 and project area photo in Figure 2 (see link below) illustrate the de-risking of the project.

Strategic project location

The Kempfield project area is strategically situated in a historic gold producing area approximately 45 kilometres to the southeast of the Cadia copper-gold mine, and near existing infrastructure and major population centres that provide skilled labour and mining related services.

Kempfield is located approximately 30 kilometres to the south of Blayney, where the copper concentrates from the Cadia mine are dewatered, loaded and transported along the Main Western Railway to the loading terminal and shipping facility at Port Kembla on the eastern seaboard.

Kempfield drilling programme

Preparations continue for the Kempfield drilling programme. Further key milestones will be reported to the ASX as they are achieved.

To view figures, please visit:
http://abnnewswire.net/lnk/93J52MJO

David Busch
Chief Executive Officer
Argent Minerals Limited
M: +61-415-613-800
E: david.busch@argentminerals.com.au

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iSignthis Ltd (ASX:ISX) Cash Receipts - Performance Rights

June 21, 2018, 6:13 pm

≫ Next: Carnarvon Petroleum Limited (ASX:CVN) Dorado-1 Drilling Update

≪ Previous: Argent Minerals Limited (ASX:ARD) Agreement Executed with Kempfield Neighbours Facilitates Large Scale Project Advancement

Australian Securities Exchange and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX:ISX) (FRA:TA8) ("the Company"), the world leading RegTech for identity verification and payment services, is pleased to advise that cash receipts for Half Two (H2) are now in excess of Three Million Seven Hundred and Fifty Dollars ($3,750,000).

Subject to audit, the receipts will satisfy the Milestone A and Milestone B requirements for issue of Class A and Class B Performance Rights under Section 14.2 of the iSignthis Ltd Prospectus dated 22 December 2014.

The Company is not as yet in a position to provide guidance on Milestone C target of Five Million Dollars ($5,000,000) audited revenue target, as End of Financial Year June 2018 invoicing will be the determining factor.

Media: contact@isignthis.com

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

↧

Carnarvon Petroleum Limited (ASX:CVN) Dorado-1 Drilling Update

June 21, 2018, 7:40 pm

≫ Next: Queensland Bauxite Ltd (ASX:QBL) Q&A on the Merger of QBL, MCL and Medcan Australia

≪ Previous: iSignthis Ltd (ASX:ISX) Cash Receipts - Performance Rights

Carnarvon Petroleum Limited ("Carnarvon") (ASX:CVN) (OTCMKTS:CVONF) is pleased to provide the following update on the drilling at the Dorado-1 well.

Progress

The well has been drilled in the 12-1/4" hole section to the depth of approximately 3,637 metres Measured Depth ("MD").

Forward Plan

Run and cement the 9-5/8" liner then drill the 8-1/2" into the primary Caley Member target.

Well Objective

The primary objective for the Dorado-1 well is to assess the gas and liquids potential in the Caley Member with the well being less than 20km from and updip of the successful Roc-1 and Roc-2 wells.

The Dorado structure at the Caley interval is estimated to contain a gross mean recoverable prospective resource of 545 Bscf of gas and 30 million barrels of associated condensate (being 125 million barrels of oil equivalent ("boe"), gross, Pmean). Multiple secondary targets have been identified by Carnarvon in the Crispin and Milne Members (see Figure 4 in link below) and these will also be assessed by the Dorado-1 exploration well. See the recently released volumetric strategy update (ASX 23 April 2018) for details on these targets.

Prospective Resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project and may relate to undiscovered accumulations. These prospective resource estimates have an associated risk of discovery and risk of development. Further exploration (this well) and appraisal is required to determine the existence of a significant quantity of potentially moveable hydrocarbons.

  
Carnarvon Petroleum            20% 

Quadrant Energy (Operator)     80%

To view figures, please visit:
http://abnnewswire.net/lnk/3H27RP07

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

Media inquiries:
Luke Derbyshire
Managing Director
Spoke Corporate
Phone: +61-488-664-246
Email: luke@spokecorporate.com

↧

Queensland Bauxite Ltd (ASX:QBL) Q&A on the Merger of QBL, MCL and Medcan Australia

June 21, 2018, 8:32 pm

≫ Next: Liquefied Natural Gas Ltd (ASX:LNG) Extends Meridian LNG Offtake Agreement

≪ Previous: Carnarvon Petroleum Limited (ASX:CVN) Dorado-1 Drilling Update

Because of a few poignant questions on yesterday's significant Queensland Bauxite (ASX:QBL) announcement there are dominating queries sent to the Company that obviously need clarification.

On behalf of the Queensland Bauxite (QBL) Board I would like to answer and clarify these questions, so that shareholders fully understand the Announcement and its implications for QBL.

Question 1). Because the new deal almost doubles the share capital in QBL, that means shareholders are diluted to half their existing interest in MCL and Bauxite. How is this beneficial to QBL?

Answer : Currently QBL owns 55% of MCL. Should the alternative of an MCL separate float be put into effect then this percentage ownership by QBL would be seriously diluted upon a separate IPO. In a separate IPO, and after an issue of shares for the Medcan transaction, QBL would only have had an approximate 35% minority interest in MCL, and in addition would not have had access to the expected revenues into MCL. This deal not only ensures a 100% interest in MCL, with QBL shareholders having a greater beneficial ownership than prior to this deal, it also ensures that QBL will have direct access to the future revenues, giving QBL an ability to deploy that capital in building value for QBL shareholders, and to issue dividends from profits.

In summary, not only do QBL shareholders have a greater percentage beneficial ownership in MCL after this merger than prior, but significantly most of the income stream to MCL and its anticipated profitable cash flow, would have been lost to QBL on a separation of MCL in an IPO, whereas QBL will now get 100% of the income. QBL shareholders are therefore in a much better position having 100% of MCL's income stream via QBL's 100% ownership of MCL.

In addition, the shares being issued to purchase MCL and Medcan will be escrowed for 24 months and will not be able to be traded on the ASX. The shares currently available to be traded on the market, 1.59Bill, remain the same as they were before the Trading Halt.

Question 2) Who is Medcan and why did we offer to issue so many shares for a company that has no current revenues?

Answer: We offered the shares because Medcan has an ODC licence which is difficult to acquire, and it is uncertain how many further licenses the ODC will even issue anymore. From our correspondence with the ODC we saw that the requirements they had requested of us would have taken us much longer to secure the license and the value of having a license now as a first mover advantage is absolutely necessary to achieve our goals.

It seems to be taking a year or two or more to get this licence and most applications have not been approved and are not expected to be approved. We could not risk not having this licence if we want to be able to grow high THC Cannabis for medicinal purposes.

Also, significantly, Medcan have a DA approved facility for growing and producing THC Cannabis. Such a facility is difficult to achieve partly because generally, many councils are not amenable to give approval for a marijuana facility in their jurisdiction.

Medcan also has many international contacts who are interested in purchasing product from their facility once fully operational, and we believe we will be able to build a lucrative business based on us being one of the few companies with an approved facility to accompany the ODC licence.

Medcan's shares are subject to 24 months escrow so it is in their interest to assist the company as much as possible.

The Medcan team, during the many meetings we had prior to the signing of the Heads of Agreement, impressed us all as being very knowledgeable in the field and well connected and enthusiastic for the medicinal marijuana cause.

Yes, when paying, everything is too high. We would have loved to pay less. But we really wanted and needed what they had to offer.

To make money, unfortunately one has to spend money, and we believe the returns on this deal will create much greater value to QBL shareholders than the initial value of the investment.

It is our view, relative to what the market is valuing other companies with ODC licenses, that QBL has achieved a very favourable outcome for its shareholders.

Question 3) Aren't we paying too much for MCL relative to what we paid for our initial interest in MCL?

We are confident that we paid for MCL, based on market valuation and what the market valued QBL at based on the MCL investment. Since our initial acquisition of MCL, we have turned MCL from just a concept into a leading company in this industry. In addition, since the initial acquisition, legislation changed to legalise hemp food products which enabled the building of our Vitahemp and Vitaseed's businesses, and legislation has changed to allow Cannabis exports. The value of MCL today is 'simply' much greater than when we did the initial investment.

Obviously, had we not done a logical calculation as to what MCL was worth, and given fair value, there is no way that the shareholders in MCL would have agreed to give up their MCL shares. Again, anything we pay for is too much because it is our money into someone else's pocket! But if what we purchase is going to make us a lot more money than the cost of investment, then the investment is well worth making. We believe that the future potential of MCL is very significant and we wanted to ensure that all that value will be captured directly for the benefit of QBL and its shareholders.

Queensland Bauxite Ltd
Tel: +61-2-9291-9000

For further information or any queries please email the Company at:
sfeldman@queenslandbauxite.com.au

↧

Liquefied Natural Gas Ltd (ASX:LNG) Extends Meridian LNG Offtake Agreement

June 24, 2018, 3:19 pm

≫ Next: Kingston Resources Limited (ASX:KSN) Sale of Mt Cattlin Lithium Tenements

≪ Previous: Queensland Bauxite Ltd (ASX:QBL) Q&A on the Merger of QBL, MCL and Medcan Australia

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 September 2018. This three-month extension continues to allow 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

↧

Kingston Resources Limited (ASX:KSN) Sale of Mt Cattlin Lithium Tenements

June 24, 2018, 3:23 pm

≫ Next: Central Petroleum Limited (ASX:CTP) IPL Gas Sales Agreement and Queensland Acreage Farmin

≪ Previous: Liquefied Natural Gas Ltd (ASX:LNG) Extends Meridian LNG Offtake Agreement

Kingston Resources Limited (ASX:KSN) (Kingston or the Company) is pleased to announce that it has agreed the sale of its Mt Cattlin lithium tenements to Galaxy Resources Limited (ASX:GXY) (Galaxy). The transaction is now complete, Kingston will receive $600,000 for the sale, paid 50% cash and 50% Galaxy shares.

Highlights

- Kingston has sold its Mt Cattlin lithium tenements to Galaxy Resources Ltd for $600,000

With Kingston's focus turning towards the large-scale opportunity at Misima, funding further exploration activity at the WA lithium tenements was no longer a priority for the Company. The sale proceeds will be put towards the drilling underway at Misima.

Kingston is continuing to review strategic options for its NT lithium holdings, where discussions with interested parties are ongoing.

Kingston MD Andrew Corbett commented "Last November's acquisition of the Misima Gold Project signalled a redirection of management focus towards this outstanding opportunity for shareholders. As a result, a strategic review of the lithium portfolio was undertaken to determine how to extract maximum value from those assets. We are now reaching the final stages of that process and are very pleased to have successfully completed the sale of our Mt Catlin lithium tenements. We look forward to providing further updates as the process concludes."

Drilling at Misima is continuing to progress well, Kingston also expects to be reporting assay results from the Livingstone Gold Project drilling shortly.

To view figures, please visit:
http://abnnewswire.net/lnk/Y3M5B9Z2

Kingston Resources Limited
T: +61-2-8021-7492
E: info@kingstonresources.com.au
WWW: www.kingstonresources.com.au

↧

Central Petroleum Limited (ASX:CTP) IPL Gas Sales Agreement and Queensland Acreage Farmin

June 24, 2018, 3:30 pm

≫ Next: SEEK Limited (ASX:SEK) New Segment Reporting Structure

≪ Previous: Kingston Resources Limited (ASX:KSN) Sale of Mt Cattlin Lithium Tenements

Central Petroleum Limited (ASX:CTP) ("Company" or "Central") today has executed a Gas Sales Agreement ("GSA") with Incitec Pivot Limited ("IPL") whereby Central will deliver at least 20 TJ/d of gas to IPL on an ex-field basis from its Palm Valley and Mereenie fields. The gas will be delivered from the commencement of commercial operations on the Northern Gas Pipeline (currently anticipated to be December 2018) till 31 December 2019.

The Company is in discussions with APA Limited on upgrading the Mereenie to Amadeus Gas Pipeline lateral. Subject to reaching a commercial accommodation with APA, IPL has an option to further increase that volume.

Further to Central's announcement dated 1 March 2018 a 50:50 joint venture arrangement for ATP(A)2031 in Queensland (the "Qld Acreage") has also been agreed with IPL, allowing the fast tracking of the Qld Acreage. Under the joint venture arrangements, IPL will contribute up to $20 million for appraisal drilling costs during the initial exploration period.

"The sale of Northern Territory gas into the eastern seaboard to IPL demonstrates the importance of Northern Territory gas to the domestic market. It is particularly noteworthy that this gas is being used to keep open an existing fertiliser plant-an essential input in the production of food-and preserving the existing employment of many Australian workers. As a result of this GSA, Central will be reopening its 100% owned Palm Valley field, further employing both local Indigenous and non-Indigenous people. Our commitment to Indigenous employment has been successfully implemented and over 30% of our Northern Territory employees will continue to be Aboriginals," said Richard Cottee, Managing Director, Central Petroleum Limited.

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

↧

SEEK Limited (ASX:SEK) New Segment Reporting Structure

June 24, 2018, 3:37 pm

≫ Next: Topbetta Holdings Ltd (ASX:TBH) Change of Company Name

≪ Previous: Central Petroleum Limited (ASX:CTP) IPL Gas Sales Agreement and Queensland Acreage Farmin

To align with previously announced organisational structure changes, SEEK (ASX:SEK) (OTCMKTS:SKLTY) has made a series of changes to its financial reporting structure. The revised segment reporting will now comprise three main segments:

- SEEK Asia Pacific & Americas ("AP&A"): SEEK ANZ, SEEK Asia, Brasil Online, OCC and "Other Businesses(see Note 1 below)"

- SEEK Investments: Zhaopin, Online Education Services and Early Stage Ventures(see Note 2 below) (ESVs)

- Corporate Costs: Costs incurred that are not directly attributable to AP&A

Key Insights

- At a SEEK Group level, reported Revenue, EBITDA and NPAT remains unchanged

- SEEK Group Balance Sheet and Cash Flow statement also remain unchanged

- Excluding EBITDA changes for SEEK ANZ, Revenue and EBITDA results for SEEK's main operating businesses remain unchanged

- SEEK ANZ has historically incurred shared costs that have also supported the SEEK Group. Under this new structure, costs that are not directly attributable to AP&A will now be captured in Corporate Costs(see Note 3 below)

- ESVs have been allocated between AP&A and SEEK Investments. ESVs that reside in "Other Businesses" are those that are highly synergistic with AP&A's core businesses. The remaining ESVs are included in SEEK Investments

Annexure 1 (see link below) reflects the restated segment information that will be used to present SEEK's FY18 results.

To facilitate prior period comparisons, SEEK has provided restated segment information for the period FY14 to H1 18. An Excel version of Annexure 1 can be found at the Reports & Presentations section of SEEK's Investor Centre: http://www.abnnewswire.net/lnk/368A372T

Notes:

1 Other Businesses include Jora, JobAdder, SEEK Learning, Digitary and other undisclosed investments

2 SEEK Investments ESVs include: Sidekicker, Workana, Ximble, Go1, Caelum, Catho Education, Jobstreet Education and other undisclosed investments

3 International Other which previously related to costs used to manage SEEK's International businesses have been now re-allocated between AP&A and Corporate Costs

To view Annexure 1, please visit:
http://abnnewswire.net/lnk/0T8715J1

Investors & Analysts
Geoff Roberts / Jeff Tang
SEEK Limited
T: +61-3-8517-4484

↧

Topbetta Holdings Ltd (ASX:TBH) Change of Company Name

June 24, 2018, 4:38 pm

≫ Next: Ardiden Ltd (ASX:ADV) Resource Expansion Drilling Program to Recommence at Seymour Lake Lithium Project

≪ Previous: SEEK Limited (ASX:SEK) New Segment Reporting Structure

The Betmakers Holdings Limited (ASX:TBH) (the "Company"), formerly TopBetta Holdings Limited, is pleased to advise that the change of Company name approved by shareholders at the general meeting of the Company held on 18 June 2018 has been completed and the Australian Securities and Investments Commission has recorded the change of Company name.

The effective date for the change of Company name on the ASX will be today, 25 June 2018.

Jane Morgan
Investor & Media Relations
E: investors@topbetta.com
M: +61-405-555-618

↧

Ardiden Ltd (ASX:ADV) Resource Expansion Drilling Program to Recommence at Seymour Lake Lithium Project

June 24, 2018, 4:40 pm

≫ Next: Mustang Resources Ltd (ASX:MUS) Outstanding Metallurgical Results Highlight Quality of Caula Graphite-Vanadium Project

≪ Previous: Topbetta Holdings Ltd (ASX:TBH) Change of Company Name

Canadian focused lithium explorer and developer Ardiden Limited ("ADV" or "the Company") (ASX:ADV) is pleased to announce that drilling and geological teams are on site at the North Aubry prospect, to recommence the 2018 resource expansion diamond drilling program at its 100% owned, flagship Seymour Lake Lithium Project in Ontario, Canada.

HIGHLIGHTS:

- ~3,000m diamond drilling program to recommence at the Seymour Lake Lithium Project

- Drill program to focus upon extensions of the lithium mineralisation at the North Aubry lithium deposit and recently identified structures inferred to represent pegmatites under-cover at the Central and South Aubry prospects

- A large number of drill targets to be tested by this drill program were identified by the Ground Penetrating Radar (GPR) program and reviewed by Ardiden's key geological consultant Peter Spitalny

- Significant growth of Seymour Lake in size and scale continues to be the key focus of management

- The broad-scale regional prospecting and mapping program has almost been completed, with 100 of the 160 targets already reviewed

RESOURCE EXPANSION DIAMOND DRILLING PROGRAM

Commencement of the preparation of the drill pads and access tracks will begin shortly, with expectations that the site preparation should take approximately 7 to 10 days to complete, before the drill rig will be mobilise to start the next phase of the resource expansion diamond drilling program at the North Aubry lithium deposit.

The drilling program has been designed by the Company to drill-test and evaluate extensions of the North Aubry pegmatites and additional new structures that have been recently identified at the Aubry prospects. A large number of these new structures have been identified as a result of the Ground Penetrating Radar (GPR) program, and a detailed geological and structural review by the Company's key geological consultant Peter Spitalny.

The initial phase of drilling will comprise of approximately 3,000m of diamond drilling and is envisaged as a precursor to additional drilling that will specifically focus upon a number of new highly-prospective, high priority drill targets defined at the Central and South Aubry prospects later in the year.

LARGE-SCALE MAPPING PROGRAM

Despite some remote and challenging conditions, the geological team have successfully inspected approximately 100 target locations during the large-scale prospecting and mapping program, which has resulted in the identification of a number of previously unknown pegmatites.

Once the geological team have competed the initial review of the 160 target areas (see Figure 1 in link below) through the broad-scale mapping and prospecting program, the team will then undertake a more detailed review and analysis of the pegmatites and to determine whether they may potentially host spodumene mineralisation.

Ardiden looks forward to providing further updates as the information becomes available.

To view figures, please visit:
http://abnnewswire.net/lnk/8A5TO55V

Investors:
Brad Boyle
Ardiden Ltd 
Tel: +61-8-6245-2050

Media:
Michael Weir / Cameron Gilenko
Citadel-Magnus
Tel: +61-8-6160-4900

↧

Mustang Resources Ltd (ASX:MUS) Outstanding Metallurgical Results Highlight Quality of Caula Graphite-Vanadium Project

June 24, 2018, 4:42 pm

≫ Next: Emmerson Resources Limited (ASX:ERM) Tennant Creek Exploration Update Presentation

≪ Previous: Ardiden Ltd (ASX:ADV) Resource Expansion Drilling Program to Recommence at Seymour Lake Lithium Project

Mustang Resources Ltd (ASX:MUS) (OTCMKTS:MTTGF) is pleased to announce outstanding results from further graphite metallurgical testwork at its Caula Graphite-Vanadium Project in Mozambique.

Key Points

- The results of the metallurgical tests are considered truly outstanding because they have delivered a significant increase in flake size and a reduction in the costs of processing reagents

- Modified and improved flowsheet design allows for integrated graphite and vanadium extraction

- Cumulative proportion of large to super jumbo flakes (>180 m) increased from 44% to 60% for the combined Oxide zone while the Fresh zone increased from 55% to 68%

- High concentrate grades of more than 97% Total Graphitic Carbon have been maintained in modified flowsheet

- The tests were conducted on samples of oxide, transition and fresh material taken from the area of Caula drilled in 2017

- Composites from borehole MODD015 were tested. This borehole is located in the middle of the 2017 boreholes

- The excellent metallurgical results continue to demonstrate Caula's potential to be a low-cost supplier to the expandable graphite and lithium battery industries

- The results will now be incorporated into the Scoping Study which is well underway

Mustang Managing Director Dr. Bernard Olivier said: "These metallurgical results are outstanding and provide further evidence of the exceptional quality of the graphite at Caula. We managed to achieve an extraodinary 27% increase in the cumulative proportion of large to super jumbo flakes (>180?m) while maintaining our exceptional concentrate grade of 97%. The large to super jumbo flake-sizes in the fresh zone increased from 55% to 68% while the cumulative oxide zone increased from 44% to 60%."

The Caula Project is in a unique position of hosting high-grade, shallow mineralisation with an exceptional combination of recovery, graphite concentrate flake-size distribution, and purity.

The Caula Project is located along strike from Syrah Resources' (ASX:SYR) world-class Balama graphite project in Mozambique.

Details of testwork

The latest testwork flowsheet was a modification of a similar flowsheet used for the earlier work. The graphite test procedure comprised an initial coarse grind, a de-slime stage (by-passed on Fresh), then rougher flotation followed by three re-grind & cleaner flotation stages and two final cleaner flotation stages. By graphite industry standards, this is a remarkably simple flowsheet.

The flowsheet has been extended to allow integrated extraction of both graphite and vanadium from the same feed material. The first vanadium concentration work is currently in progress and result are expected in due course.

The main difference from the earlier work was the use of a single-stage grind with a target of 80% passing 650 ?m, rather than the multi-stage grind to 95% passing 710 ?m. The single stage grind was selected as Mustang considers that it will give a product size distribution that is more representative (than the multi-stage grind) of full scale operations.

A simpler and lower cost reagent scheme was also used in the current work. The new reagent scheme will cost less than half that used in the testwork for the 17 December announcement, further adding value to the project.

A further difference is that in this round of testwork the samples were composited into Fresh, Transition and Oxide. For earlier work, the samples had been composited into Fresh and Oxide, with the latter consisting of core material with any visible oxidation. This earlier "Oxide" classification is equivalent to a combination of the current "Oxide" and "Transition" classes.

The graphite concentrate grade and size distribution results achieved are summarised in Table 1(see link below).

All TGC concentrate assays quoted were determined using the double LOI method. All calculated TGC head assays from combined metallurgical test products were within experimental limitations of the composite grades.

A simplified comparison with the results announced on 17 December 2017 is shown below in Table 2(see link below). It can be seen that the proportion of concentrate with flake-size greater than 180 ?m has been substantially increased in the most recent work while the excellent concentrate grades have been maintained. For direct comparison with the earlier results a weighted average of the oxide and transitional results from the current work has been calculated and is shown as "Oxidised" in Table 2(see link below). The weighting is based on the composite weights shown in Table 3(see link below).

A blend of Oxide and Transition material is located on top of the Fresh zone and will therefore be extracted and processed first. This means that the dramatic improvement in performance of combined Oxide and Transition material is of great significance for the project.

Oxide, Transitional and Fresh samples were formed from the intervals shown in Table 3(see link below).

For earlier testwork, core material showing any oxidation was classed as oxide. For this current round of work a further distinction was made. It was recognised that there is a near-surface (to about 30 metres downhole) zone of material which (from the sample analyses) appears to have been depleted in sodium (and potassium) by weathering. This has been classed as oxide. Below this (and to about 60 metres downhole) is a zone with visible signs of weathering which has been classed as transitional. In this zone, a variable proportion of sulfides has been oxidised. Fresh material is found further downhole. The oxide material is very friable whilst transitional and fresh materials are generally quite competent(see Note below).

Mustang greatly welcomes the prospect of developing a low-cost high-grade graphite product. The high head-grade and simplified flowsheet bode well for the Scoping Study to be completed in Q3. The estimated completion of the Scoping Study has been pushed back slightly due to unexpected delays in receiving the remaining assay results back from the independent laboratory. A smaller processing plant (with lower Capex) would be required to generate a similar final product output compared to other projects with lower grades or more complex metallurgy. To have the project located in the mining-friendly country of Mozambique gives further advantage when compared with projects in other less mining friendly juristictions.

Note: Refer to ASX Announcement dated 1 May 2018 "More wide, high-grade vanadium results at Caula"

To view tables, please visit:
http://abnnewswire.net/lnk/XN829MK8

Managing Director: 
Bernard Olivier 
E: bernard@mustangresources.com.au
M: +61-4-08948-182
T: +27-66-4702-979

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

↧

Emmerson Resources Limited (ASX:ERM) Tennant Creek Exploration Update Presentation

June 24, 2018, 4:48 pm

≫ Next: Core Exploration Ltd (ASX:CXO) Positive Pre-Feasibility Study

≪ Previous: Mustang Resources Ltd (ASX:MUS) Outstanding Metallurgical Results Highlight Quality of Caula Graphite-Vanadium Project

Emmerson Resources Limited (ASX:ERM) (OTCMKTS:EMMRF) (ERM) provides the opportunity to view a video interview by ProactiveInvestors Stocktube with Rob Bills, Managing Director.

To view, please copy the following details into your web browser:
http://www.abnnewswire.net/lnk/YEK6M60J

For further information, please contact: 

Rob Bills
Managing Director and CEO
E: rbills@emmersonresources.com.au
T: +61-8-9381-7838
www.emmersonresources.com.au 

Media enquiries

Michael Vaughan, Fivemark Partners
E: michael.vaughan@fivemark.com.au
T: +61-422-602-720

↧

Core Exploration Ltd (ASX:CXO) Positive Pre-Feasibility Study

June 24, 2018, 5:05 pm

≫ Next: Central Petroleum Limited (ASX:CTP) Mereenie WM26 Drilling Update

≪ Previous: Emmerson Resources Limited (ASX:ERM) Tennant Creek Exploration Update Presentation

Emerging Northern Territory lithium producer, Core Exploration Ltd (ASX:CXO) (Core or the Company) is pleased to announce the release of its Pre-Feasibility Study (PFS) for the Grants Lithium Deposit, a key component of the Company's wholly-owned Finniss Lithium Project, located near Darwin in the Northern Territory.

Highlights

- Initial development of Grants lithium deposit generates NPV10 of A$140 million (pre-tax) with an IRR (pre-tax) of 142% at average LOM concentrate price of US$649/t (FOB) over LOM;

- NPV10 increases to A$246 million (pre-tax) and IRR (pre-tax) increases to 202% using US$895/t (FOB) concentrate price (current spot price);

- Project generates A$346 million in revenue and over A$168 million in free cashflow (pre-tax), driving rapid payback period of less than 12 months;

- Initial operational mine life of 26 months, producing a high-quality spodumene concentrate of 5.0% Li2O;

- 1Mtpa DMS processing plant, producing 225,000tpa(see Note below) concentrate grading 5.0% Li2O at nameplate capacity;

- Low capital cost of A$53.5 million (including contingencies of 15%);

- Operating costs of less than US$279/t concentrate (A$372/t), including royalties, generates a robust operating margin of more than US$370/t on low case pricing assumptions;

- Simple DMS plant design will allow for rapid construction timetable;

- Approximately 50% of the total development capital cost expected to be met with US$20 million pre-payment commitment by Core's largest shareholder and major Chinese lithium producer -Yahua Group (SHE:002497);

- Financing discussions advanced with strategic financiers, including global offtake companies;

- Significant potential to enhance Finniss Project mine life and economics through the later integration of the nearby BP33 deposit, and discovery of additional deposits at Finniss; and

- CXO Board approves commencement of Feasibility Study, with target completion date of late 2018, and ultimate objective to propel Core into the ranks of ASX lithium producers in 2019.

Executive Summary

Core has taken a major step forward in its goal to become a major Australian lithium producer through the delivery of this PFS, which seeks to unlock a new lithium province near Darwin in the Northern Territory.

Core's development of the Finniss Lithium Project is initially centred on production from the high-grade Grants deposit as an open pit mining operation, and construction of a simple 1Mtpa Dense Media Separation (DMS) process plant that will produce a high quality 5% spodumene concentrate for export.

The high grade of Grants, when coupled with proximity to infrastructure, low capital and operating costs, results in a development capable of delivering A$168 million (pre-tax) in free cash generation over a period of only 26 months. This strong cash surplus will ensure Core is well placed with a first-mover advantage in this exciting new lithium province and lays solid foundations for the building of a long-term lithium production hub.

Existing road infrastructure will provide access for daily road train movements of concentrate product to the Darwin Port for shipment which is located 88km from the Project area. The Project also has other substantial infrastructure advantages, including being close to grid-power, gas and rail infrastructure and being less than a 1-hour drive from the skills, trades, workshops and services in suburban Darwin.

Key PFS Outputs

The PFS clearly demonstrates the Finniss Project economics to be compelling, with globally competitive cash costs that result in high operating margins and rapid capital payback. Key outputs include:

 
---------------------------------------------------------------------- 
Table 1 - Key PFS Outputs 
---------------------------------------------------------------------- 
Key Measure               1Mtpa DMS Plant 
----------------------------------------------------------------------
Project revenue           A$346 million 
LOM EBITDA                A$168 million 
Pre-production capital    A$53.5 million (incl. 15% contingency)  
Average operating cost 
over LOM                  US$279/t (including royalties) (A$372/t)  
Initial life of mine      26 months (Grants deposit only)  
Concentrate production 
over LOM                  400,083 tonnes grading 5% Li2O 
NPV10 (pre-tax)           A$140 million 
                          A$246 million at US$895/t (FOB) (A$1,193/t) 
                          concentrate price 
IRR (pre-tax)             142%
                          202% at US$895/t (FOB) concentrate price 
Payback period            12 months 
----------------------------------------------------------------------

Unless otherwise stated, all figures above assume a life of mine concentrate sales price of US$649/t (FOB) concentrate, and a USD/AUD exchange rate of 0.75.

The PFS confirms Grants as a financially viable operation, with A$346 million in revenue (pre-tax) to be generated over the 26-month life-of-mine, at a strong operating margin of 57% based on average life of mine sale price of US$649/t (FOB) (A$865/t at 75 cent exchange rate) concentrate, and up to 67% operating margin in the event sales prices closer to the current spot price of US$895/t (FOB) concentrate can be achieved. These strong operating margins provide for a rapid payback period of less than 12 months.

The strong free cash generation from Stage 1 of the Finniss Project development, mining only the Grants deposit initially, is expected to enable Core to be self-funding on future development opportunities within the Finniss Project, including any future development of the nearby BP33 deposit, which has potential to more than double the mine life of the Finniss Project. In addition to the BP33 Mineral Resource, there are a number of additional advanced pegmatite targets within the Finniss Project containing known high-grade lithium intercepts that require follow up drilling. The results from this follow up drilling will provide additional line of sight to organic growth opportunities.

The simple process flowsheet for Grants is based on the construction of a new 1Mtpa Dense Media Separation (DMS) plant, resulting in a relatively low capital cost estimate, and reduced commissioning risk relative to some peer spodumene concentrate operations that require additional capital costs associated with flotation circuits.

Core's Managing Director, Stephen Biggins, commented:

"The results of the Pre-Feasibility Study are highly encouraging and puts the Finniss Project on track to become the Northern Territory's first producing lithium mine.

"The PFS confirms Grants as a simple but high value operation, with minimal spend required on infrastructure thanks to its simple mineralogy and location near Darwin Port.

"With the successful PFS under our belt, we will now look to complete a Definitive Feasibility Study on Grants before the end of the year, while also progressing our development initiatives at the adjacent BP33 deposit, which has considerable potential to further enhance the robustness of the Finniss Project.

"On behalf of the board, I would like to thank everyone involved in this process for their support and for their hard work to-date. We look forward to further progressing Grants into production in 2019."

Next Steps

Based on the positive outcomes of the PFS, the Core Board has resolved to immediately progress to a Definitive Feasibility Study on Grants (Feasibility Study). The Feasibility Study is expected to be delivered later in 2018, allowing for a development decision in early 2019 and rapid transition to construction and production status during 2019 as a result of the simple, low technical risk operation.

Completion of the PFS now paves the way for the Company to advance its offtake and financing discussions, and project permitting to ensure Core is positioned to commence development and construction in 2019 and be delivering spodumene concentrate to customers by the end of CY 2019.

In parallel with the Definitive Feasibility Study, permitting, offtake and financing discussions, Core will maintain an aggressive regional exploration campaign focused on growing the resource base of the Finniss Project to support a long-life mining operation.

Note: There is a low level of geological confidence associated with the inferred mineral resources and there is no certainty that further exploration work will result in the determination of indicated mineral resources or that the production target itself will be realised.

To view the PFS with tables and figures, please visit:
http://abnnewswire.net/lnk/D8400W51

To view the Pre-Feasibility Study Presentation, please visit:
http://abnnewswire.net/lnk/GNCJGX5I

For further information please contact: 

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

For Media and Broker queries: 

Andrew Rowell
Director - Investor Relations
Cannings Purple
M: +61-400-466-226
E: arowell@canningspurple.com.au

↧

Central Petroleum Limited (ASX:CTP) Mereenie WM26 Drilling Update

June 24, 2018, 5:33 pm

≫ Next: Bluechiip Ltd (ASX:BCT) Open Briefing Interview with MD Andrew McLellan

≪ Previous: Core Exploration Ltd (ASX:CXO) Positive Pre-Feasibility Study

Central Petroleum Limited (ASX:CTP) ("Company" or "Central") as operator of the Mereenie Joint Venture announcesWest Mereenie 26 has reached the targeted Lower Stairway 2 sandstone as confirmed by cutting samples and logging while drilling Gamma Ray log. The horizontal section of the well now extends 425m and is now in the interval expected to be the most highly fractured, the results of which should be known in the next day or two. While minor gas shows and connection gas have been observed, there is evidence of fracture plugging with minerals.

Horizontal drilling progresses as per plan. The well will be evaluated for completion design at the end of this segment of the well e.g. open hole, cased hole or stimulated.

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

↧

Bluechiip Ltd (ASX:BCT) Open Briefing Interview with MD Andrew McLellan

June 24, 2018, 7:04 pm

≫ Next: MMJ PhytoTech Ltd (ASX:MMJ) Disposal of PTL and Becoming an Investment Entity

≪ Previous: Central Petroleum Limited (ASX:CTP) Mereenie WM26 Drilling Update

Bluechiip Ltd (ASX:BCT) provides the record of Open Briefing interview with Managing Director, Andrew McLellan on Bluechiip deliveries, recent trade show and market update.

In this Open Briefing(R), Andrew discusses:

- Accelerating chip deliveries and resultant revenues

- Receipt of multi-vial chip reader product and for new orders

- Attendance at industry trade shows

- Rising R & D tax credits, linked to rising production and expenditure

Record of interview:

openbriefing.com

Andrew, can you update us on your expanding production capacity and accelerating delivery of chips to meet Labcon's initial order?

MD

Our deliveries and production are scaling rapidly, which also drives our revenues:

- In the Q1 this financial year, i.e. the three months ended September 2017, we shipped, in various forms including in cryovials, just over 2,000 chips.

- In Q2, noting that we only received the order from Labcon for over $1m of Bluechiip technology in December, we shipped over 25,000.

- In Q3, the March 2018 quarter, we shipped just over 80,000.

- And in Q4, we will ship over 140,000.

We will see this accelerating growth in shipments progressing over the coming quarters and well into the long term. By year end we expect to be producing at around 100,000 chips per month and to grow from there, assuming we have the customer orders of course.

Revenues as you'd expect are also rising, closely correlated with the products we ship. Note that this includes both chips and our various readers and software.

openbriefing.com

Staying on the theme of production and scaling, we note that the order from Labcon is just an initial order and that you have sold developer kits into over 20 other companies in a number of markets. How much further and how fast can you scale production when you get additional orders?

MD

We can and will scale to produce millions of chips a year and are cognisant of the need to do this. So, whilst our immediate focus is scaling production to meet existing orders, we are also putting in place the production systems and processes so that we can scale capacity to a multiple of this. This will also give us economies of scale and bring down the cost per chip.

It is worth mentioning also, that as we deliver more chips into the market, our multi-vial readers will be very important in helping clients process Bluechip enabled products.

openbriefing.com

You've spoken in the past about the importance of the multi-vial readers. Can you explain why they are important, how this relates to the volumes of chips you'll be delivering into market and the infrastructure this creates?

MD

The multi-vial reader is very important for the end customer base to be able to handle very high volumes of samples. Having multi-vial readers in the market creates the infrastructure for end users to consume large volumes of Bluechiip enabled products, such as the vials that Labcon has produced. Our multi-vial reader can read a box of 100 Bluechiip enabled samples and it can do that with a box that has come immediately out of liquid nitrogen -196degC. This means the samples are preserved in a very cold and safe condition.

From an efficiency and safety point of view it's also very exciting because it enables the bio banks and bio repositories to put large volumes of samples into store, quickly. Some of these organisations store millions of samples and they might be putting tens of thousands if not hundreds of thousands or millions of samples into storage at a time.

For facilities doing those sorts of volumes it's very important that they can process/handle a box of 100 samples at once, through our multi-vial reader, and place them into a tank or freezer that could contain anywhere up to 30, 50 or 100 thousand samples. So each multi-vial reader that we are able to put into our customer sites, positions us to get a significant volume of consumables running through them for years to come.

openbriefing.com

Given the importance of the multi-vial readers can you tell us more about their development and production?

MD

We've been building the capability to produce multiple units on a consistent basis. This month we took a very important step along that path with delivery of the first batch of multi vial readers from our OEM and manufacturing partner, Planet Innovation.

It is very exciting for us as these units, which are late stage prototypes, are now being shipped to customers and early adopter sites.

The relevance of late prototype stage, is that it allows us to finalise our validation and regulatory approvals for full scale roll out of the product, which will occur over the coming 3-6 months.

openbriefing.com

As you accelerate production and associated expenditure, what does this mean for the volume of cash you receive from R&D tax credits?

MD

As a company and as a product we are still in late phase of R&D. This means that despite the sharply rising demand and deliveries we still have a fairly considerable expenditure, as a percentage of our total expenditure, that is going into R&D.

At the half year we recognised $450,000 accrued from the R&D tax refund. We expect our full year accounts to show an R&D tax refund available of well over $1m.

openbriefing.com

Moving onto marketing, can you tell us how you are scaling your marketing activities, including the recent International Society for Bio and Environmental Repositories (ISBER) trade show. What is important about this trade show, who attends and what did Bluechiip achieve here?

MD

We have scaled our activities both directly and via our OEM partners including Labcon. Trade shows are a very important part of this. Our booths at these shows are our shop front.

Today I am at our exhibit at the International Society for Stem Cell Research (ISSCR). This is an international show being held in Melbourne with 3,500 attendees from around the world attending with very positive feedback and interest.

Earlier this month in Dallas the International Society for Biological and Environmental Repositories (ISBER) held their annual global meeting, where both we and Labcon had booths displaying Bluechiip enabled products. We received a very positive response from customers.

ISBER had over 1,500 attendees from around the world and was very focused on the bio banking community. Attendees include the major bio banking organisations, along with the major vendors and providers into that marketplace.

Bluechiip's booth at ISBER, which is effectively our shop front, had all of our patented technology and products on display, including: the core Bluechiip technology, i.e. our Micro-Electro-Mechanical-Systems (MEMS) chips; our full range of single, match-box and multi-vial readers; and the centralized Software and data base hub to which the handheld, multi-vial and matchbox readers talk and communicate.

Labcon, one of our OEM customers, was also at ISBER with their own exhibit displaying Labcon's range of Bluechiip enabled vials and Bluechiip readers. It was exciting for us to have multiple points communicating and demonstrating Bluechiip, and the reception was very positive. When I refer to the wider bio banking community, this includes a range of the organizations that service the market, as well as end users including clinical research organizations and major bio banks around the world.

So, all up it was another important show for us and we were very pleased with both the customer response and to see multiple points displaying our product.

openbriefing.com

Can you tell us how many developer kits, which are the pre-cursor to an OEM relationship, you now have in the market? Which geographies and sectors are they in and the market size they address?

MD

We have now placed 21 developer kits. It's been a very busy quarter and we are still seeing strong demand for developer kits. We are also building the sales systems through which we can get into the marketplace and of course expanding our production capacity.

In terms of market size that's addressed, firstly the total market for bio storage is well over 300m samples a year going into our target bio-storage market across the globe. North America is the major market with around 40%, Europe is over 30% and Asia, including China and Japan are also important markets.

We have early adopter sites in the US, with a strong focus on providing them with our software and multi-vial readers, as well as the core consumable products, such as Bluechiip enabled vials.

In Asia we are seeing a high level of interest and demand. That includes in Japan, where we've received an order through our Japanese distributor for a full set of multi-vial reader, matchbox and handheld reader. This is on top of the demand out of China for multiple systems, in addition to those we have already sold to the Chinese Centre For Disease Control (CDC).

In Europe we have sold a number of developer kits and following our recent shows and activities there, we are also seeing rising interest. We expect to have some installations running in Europe in the very near future.

openbriefing.com

With your accelerating deliveries to Labcon, what does this mean for your revenue mix as well as revenue levels?

MD

As our chip deliveries are increasing the revenue mix is also changing to reflect increased sales of consumables which, given the nature of our end markets, we expect to be recurring revenues. In other words, we are moving out of the phase where our revenue is skewed to license fees, R&D development activities and developer kit sales.

What you can see in our first half accounts and it will be even more apparent in or full year accounts is that our mix of revenue is starting to be driven by product. At the end of the day we are a product and technology company. Underpinning this is our long-term vision, to be a sustainable supplier of Bluechiip enabled technology.

With the delivery of hundreds of thousands of chips in this half we are moving towards that vision and with the immediate target market of over 300 million samples going into storage per annum, we have a very large market to grow into.

openbriefing.com

Thank you.

To view the release, please visit:
http://abnnewswire.net/lnk/EB2Z852N

Bluechiip Ltd
T: +61-3-9763-9763
WWW: www.bluechiip.com

↧

MMJ PhytoTech Ltd (ASX:MMJ) Disposal of PTL and Becoming an Investment Entity

June 24, 2018, 9:36 pm

≫ Next: Ardea Resources Ltd (ASX:ARL) Hunter Capital Research Note

≪ Previous: Bluechiip Ltd (ASX:BCT) Open Briefing Interview with MD Andrew McLellan

MMJ PhytoTech Limited (ASX:MMJ) (MMJ or the Company) is pleased to advise that it has entered into a binding share sale agreement (SSA) pursuant to which it has conditionally agreed to sell its wholly-owned subsidiary PhytoTech Therapeutics Ltd (PTL) to Harvest One Cannabis Inc. (CVE:HVT) (HVT) for a maximum total consideration of CAD$8 million (Disposal).

The Disposal will be conditional upon (amongst other things) MMJ seeking all necessary shareholder and regulatory approvals required to undertake the Disposal.

ASX has advised that it considers that the Disposal will result in MMJ and the business which remains becoming an Investment Entity (defined below) and will therefore amount to a significant change in the nature of the Company's current activities. As such, MMJ will be required to obtain approval from its shareholders and to re-comply with Chapters 1 and 2 of the ASX Listing Rules.

In the event the Company does not obtain shareholder approval for the Disposal and the re-compliance conditions in Chapters 1 and 2 of the ASX Listing Rules are not met, the Disposal will not proceed and the Company will continue to own, control and operate PTL along with managing its existing investments.

As part of this re-compliance process, MMJ will issue a prospectus as required by ASX Listing Rule 1.1 Condition 3, however, MMJ does not intend to conduct a capital raising.

OVERVIEW OF MMJ

MMJ was incorporated on 14 August 2014 and admitted to the official list of the ASX on 22 January 2015.

Since listing until late last year, MMJ's strategy had focused on establishing a vertically integrated "Farm to Pharma" business model, building operations across all parts of the supply chain, including growing operations, development of cannabinoids-based drug-products, production and commercialisation of medical cannabis products and distribution in regulated markets worldwide.

On 10 October 2017, MMJ announced its intention to begin shifting its operational focus toward that of a global cannabis investment company, targeting the full range of emerging cannabis-related sectors including healthcare products, technology, infrastructure, logistics, processing, cultivation, equipment, research & development, hemp food products and retail.

MMJ's existing investments are as follows:

- PhytoTech Therapeutics Ltd or PTL (100%-owned by MMJ), the subject of the Disposal - company focused on developing and commercialising cannabis-based therapeutics products (using unique oral delivery technologies under licences that have the potential to deliver safe, effective and measured doses of cannabis derived ingredients to patients) and in conducting research & development and clinical development activities.

- Harvest One Cannabis Inc. (TSXV:HVT) (MMJ owns 53.33 million shares, 30.7% shareholding; 24.8% shareholding fully-diluted, before the issuance of shares to MMJ proposed as part of the Disposal, if all outstanding warrants and options are converted into shares) - Canadian cannabis cultivation and products company.

- Weed Me Inc. (MMJ owns a CAD$2 million secured note convertible into 3.46 million shares at CAD$0.577/share and 3.46 million warrants at CAD$0.866/share; currently enables MMJ to take a 17.4% shareholding; 29.6% shareholding fully-diluted and subject to exercise of and payment for warrants by MMJ) - Canadian cannabis cultivation company.

- Fire & Flower Inc. (MMJ owns 1.25 million shares for a ~2% shareholding plus 1.25 million warrants at an exercise price of CAD$1.05 per share; 2.7% shareholding fully-diluted and subject to exercise of and payment for warrants by MMJ) - Canadian corporate retail cannabis store chain.

- Cannabis Access (MMJ owns 16.7% shareholding) - the leading online portal for medical cannabis access in Australia.

- Martha Jane Medical Limited (MMJ owns 12.5% shareholding) - holder of an Australian medical cannabis licence and progressing applications for other classes of Australian cannabis licences.

- Bien Ventures Ltd (MMJ owns 12.7% shareholding plus 2.8 million warrants at an exercise price of CAD$0.35; 18.1% shareholding fully-diluted and subject to exercise of and payment for warrants by MMJ) - an intellectual property, branding and licensing company.

- BevCanna Enterprises Inc. (MMJ owns 3.6% shareholding) - intends to become a fully vertically-integrated premium-based cannabis infused beverage manufacturer.

INVESTMENT ENTITY AND RE-COMPLIANCE

The Disposal will:

- enable MMJ to focus its resources on actively managing a portfolio of minority investments;

- enable integration of PTL's operations with Satipharm, HVT's medical cannabis arm, which is expected to generate synergies and growth opportunities that could not be captured by PTL as a standalone research & development company; and

- benefit MMJ's shareholders by providing capital and freeing up management time to pursue investment opportunities whilst retaining exposure to PTL's future success through MMJ's shareholding in HVT.

MMJ has sought in-principle advice from ASX in respect of the Disposal and ASX has advised the Company that:

- Listing Rule 10.1 applies to the Disposal (as PTL is deemed to be a substantial asset being disposed to HVT, which ASX considers a person of influence) and that the Company will need to seek shareholder approval for the Disposal pursuant to Listing Rule 10.1;

- as a result of the Disposal, the Company will shift to become an investment entity as defined in the ASX Listing Rules (Investment Entity) and this constitutes a change in the nature of the Company's activities pursuant to Listing Rule 11.1; and consequently;

- the Company will be required under Listing Rule 11.1.3 to comply with all of the requirements of Chapters 1 and 2 of the Listing Rules as an Investment Entity.

An "Investment Entity" is an entity whose principal activities relate to investing in listed or unlisted securities and whose objectives do not include exercising control over or managing any entity, or the business of any entity, in which it invests.

MMJ will (amongst the other ASX requirements) need to demonstrate, at the time of re-compliance, that it has net tangible assets of at least $15 million. As set out in Schedules 1 and 2 to this announcement, MMJ considers it will satisfy this requirement.

Shareholders should note that once the Company re-complies as an Investment Entity on the ASX, it will need to comply with additional regulatory requirements for Investment Entities. This includes the requirement to report to ASX the net tangible asset backing of its quoted securities at the end of each month.

DISPOSAL AND SSA

As mentioned above, pursuant to the SSA, MMJ has agreed to sell 100% of the issued share capital of its wholly-owned subsidiary PTL to HVT for total consideration of CAD$8 million payable as follows:

 
----------------------------------------------------------------------
Cash (CAD$)      HVT shares*(CAD$)      Total (CAD$) 
----------------------------------------------------------------------
$1m              $7m                    $8m 
----------------------------------------------------------------------

*The issue price for the HVT shares will be based on the 10-day volume weighted average price of those shares immediately prior to settlement of the Disposal.

The Disposal is conditional upon, amongst other things, the following conditions:

a) MMJ obtaining all necessary shareholder approvals under the Corporations Act, the ASX Listing Rules or any other law to allow MMJ to complete the Disposal, including, but not limited to:

i) ASX Listing Rule 11.1.2 approval authorising the change of nature and scale of activities of MMJ (as applicable); and

ii) ASX Listing Rule 10.1 approval for the Disposal to HVT;

b) the parties obtaining all necessary third-party approvals or consents to give effect to the matters set out in the SSA;

c) the parties obtaining all necessary regulatory approvals pursuant to the ASX Listing Rules, Corporations Act or any other law to allow the parties to complete the matters set out in the SSA, including but not limited to, conditional approval to the reinstatement of MMJ's quoted securities to trading on ASX as an Investment Entity following completion of the Disposal on conditions satisfactory to MMJ and the conditional approval of the TSX Venture Exchange for the listing of the HVT shares issuable under the SSA.

Under the terms of the SSA, the Disposal will otherwise take place on terms and conditions that are considered standard for a transaction of this nature.

The Disposal is consistent with MMJ's strategic intent to operate as a global cannabis investment company with a portfolio of minority investments, rather than having control over its investments.

At present, PTL requires significant MMJ management time and resources to ensure that it is successful in its business strategy and can become a viable, self-funding business in the future. Advanced clinical research and development is not a core capability of MMJ's management team. MMJ has invested approximately $4.7 million in PTL to date and, whilst PTL remains as a 100% subsidiary of MMJ, it is expected to continue to require funding and operate at an annual net loss for MMJ over the next few years.

Funds raised from the Disposal will provide MMJ with flexibility to pursue investment opportunities in the cannabis sector.

Relationship between MMJ and HVT

Initially, following the successful listing of MMJ's core cannabis brands, United Greeneries Holdings Ltd (UG) and Satipharm AG (SAT) on the TSXV through HVT in April 2017, MMJ included HVT in its consolidated group accounts as an entity that MMJ had control over. However, circumstances have subsequently changed so that MMJ no longer considers that it exerts control over HVT on the basis that:

- MMJ's shareholding in HVT has reduced to 30.7% (24.8% fully-diluted; refer table below); and

- the Boards of both MMJ and HVT have changed so that MMJ and HVT have only one common director on their Boards, being Peter Wall.

HVT will be included as an investment but no longer consolidated in the accounts of MMJ and the effect of this has been reflected in Schedules 1 and 2 (see link below).

MMJ's fully-diluted shareholding in HVT is as follows:

 
---------------------------------------------------------------------- 
Event             MMJ Shares    Total Fully-      MMJ Fully-Diluted 
                  in HVT*       Diluted HVT       Shareholding in HVT 
                                Shares on Issue 
----------------------------------------------------------------------
Current           53,333,333    214,929,148       24.8% 
----------------------------------------------------------------------
After Settlement  61,310,077    222,905,892       27.5%  
----------------------------------------------------------------------

*Note: 2% of the Disposal consideration (cash and/or HVT shares) when due and payable to MMJ is to be paid/issued to Yissum Research Development Company of the Hebrew University of Jerusalem Ltd (Yissum) based on an agreement in place between PTL and Yissum. The number of HVT shares to be issued to MMJ and Yissum in the table above assumes a HVT share price of CAD$0.86/share.

As stated above, ASX are requiring the Company's shareholder approval pursuant to ASX Listing Rule 10.1 in respect of the Disposal due to the circumstances of the relationship between the MMJ and HVT.

To view the full release with tables, please visit:
http://abnnewswire.net/lnk/LA960194

Investor and Media Enquiries:
Jason Conroy
Chief Executive Officer
T: +61-2-8098-0819
E: jconroy@mmjphytotech.com.au

↧

Ardea Resources Ltd (ASX:ARL) Hunter Capital Research Note

June 24, 2018, 10:26 pm

≫ Next: MMJ PhytoTech Ltd (ASX:MMJ) Investor Presentation

≪ Previous: MMJ PhytoTech Ltd (ASX:MMJ) Disposal of PTL and Becoming an Investment Entity

Ardea Resources Limited (ASX:ARL) (OTCMKTS:ARRRF) ("Ardea" or "the Company") announces that Hunter Capital has initiated coverage on the Company.

To view this research note, please visit:
http://abnnewswire.net/lnk/HV3NHJ1O

Mr Brett Clark
Managing Director & CEO
Ardea Resources Limited
T: +61-8-6244-5136

Michael Weir
Citadel-MAGNUS
E: mweir@citadelmagnus.com
T: +61-402-347-032

↧

MMJ PhytoTech Ltd (ASX:MMJ) Investor Presentation

June 25, 2018, 3:21 pm

≫ Next: Rumble Resources Ltd (ASX:RTR) New High Grade Drill Targets and Porphyry Model Confirmed

≪ Previous: Ardea Resources Ltd (ASX:ARL) Hunter Capital Research Note

MMJ PhytoTech Ltd (ASX:MMJ) provides the Company's latest Investor Presentation.

MMJ

Global cannabis investment company

- Listed on the ASX with the code "MMJ"

- Owns a portfolio of minority interests

- Diversified across investment stages and geographies

- New management team recently appointed

- Returns measured by MOIC

- Currently focused on the large Canadian market opportunity

Group structure

We own minority interests across a broad portfolio, with a focus on Canada

Outlook

We are focused on 3 key areas

1. Recycle capital for new investments

2. Invest in new opportunities to further diversify our portfolio

3. Drive shareholder returns through active portfolio management

To view the full presentation, please visit:
http://abnnewswire.net/lnk/RHK3IS37

Investor and Media Enquiries:
Jason Conroy
Chief Executive Officer
T: +61-2-8098-0819
E: jconroy@mmjphytotech.com.au

↧

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