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Asia Business News

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    Rumble Resources Ltd (ASX:RTR) ("Rumble" or "the Company") is pleased to announce that the RC drilling program at the Nemesis Project (M20/33), located 40km's north of Cue in the Murchison Goldfields of Western Australia, has been successfully completed.

    - RC drilling targeting high-grade gold at the historic Nemesis gold mine and Nemesis Shear Zone is now complete.

    - 6 RC drill-holes were completed for a total of 728m.

    - Assaying of RC samples will take approximately three (3) weeks.

    In total, three targets were tested with six RC drill-holes for a total of 728m.

    Three (3) RC drill-holes were completed targeting the depth extension of the main high-grade gold zone at the historic Nemesis gold mine.

    Two (2) RC drill-holes east and one (1) RC drill-hole west along strike from the Nemesis gold mine, targeting areas of historic elevated Au in soil anomalism and known small scale workings associated with the Nemesis Shear Zone.

    Results from the drilling will be reported as soon as assay results are available.

    To view tables and figures, please visit:

    Shane Sikora
    Managing Director
    Phone: +61-8-6555-3980

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    Mithril Resources (ASX:MTH) ("Mithril") and its exploration partners are exploring for a range of high-value commodities throughout the Meekatharra, West Kimberley and Kalgoorlie Districts of Western Australia, and the Coompana Province of South Australia (see Figure 1 in link below).

    During the June 2018 Quarter (the "Quarter") Mithril prioritised two nickel targets for drill testing and EM geophysical surveying at Kurnalpi, continued target generation at Billy Hills, and applied for a new exploration tenement ("Genoa Bore") which is prospective for copper and zinc mineralisation west of the Abra Deposit.

    Key Points

    Kurnalpi (Nickel-Cobalt)

    - Two nickel targets prioritised for drill testing and EM geophysical surveying

    - Drilling scheduled to commence first week of August 2018

    Billy Hills (Zinc)

    - Project area expanded to over 315km2 with a new tenement application east of the former Pillara Zinc Mine

    - First of the project tenements granted

    - Target generation continuing

    Genoa Bore (Copper, Zinc)

    - New exploration tenement prospective for copper and zinc mineralisation west of the Abra Deposit within a similar geological setting

    - The tenement's prospectivity is highlighted by historic surface rock chip sampling and wide spaced drilling, some of which has returned strong indications of copper and zinc mineralisation;

    o Rock chip samples with individual assay values up to 17.5% copper, 2.4% lead, 3.70% zinc, and 120ppm silver

    o Drilling - 48m @ 2,709ppm Zn from 54 metres in ISBD1, 5m @ 5,940ppm Zn from 130 metres in ISBD2, and 21m @ 3,488ppm Zn from 315 metres in ISBD3

    - Data compilation, review and target generation underway

    Corporate and Cash

    - Cash reserves of $0.86M at 31 March 2018.

    To view the full report with figures, please visit:

    Mithril Resources Ltd
    David Hutton
    Managing Director
    T: +61-8-8132-8800
    F: +61-8-8132-8899

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    Mustang Resources Ltd (ASX:MUS) (FRA:GGY) (OTCMKTS:MTTGF) is pleased to announce that its Caula Vanadium-Graphite project in Mozambique has taken another key step towards development with the completion of the maiden JORC-compliant vanadium Mineral Resource estimate.

    Key Points

    - Total Maiden JORC Resource of 22 Mt @ 0.37% vanadium pentoxide (V2O5) (0.2 % grade cut-off) at the Caula Vanadium-Graphite Project in Mozambique

    - The entire Vanadium Resource is in the Measured Resource category

    - Vanadium Resource is subdivided into two zones:

    o Oxidised Zone - 8.9 Mt @ 0.31% V2O5 for 27,400 tonnes contained V2O5 (0.2% grade cut-off)

    o Fresh Zone - 13.1 Mt @ 0.41% V205 for 54,200 tonnes of contained V2O5 (0.2% grade cut-off)

    - Total contained V2O5 of 81,600 tonnes (~180 Mlb)

    - Current V2O5 price is of US$18.50/lb (US$40,500/tonne) (98% V2O5)

    - Substantial scope for further growth in the Vanadium Resource through exploration

    - Chinese vanadium demand jumped 15% in May 2018 from April as steel mills prepared to switch to making higher-strength steel(see Note 1 below)

    - 3,000t of vanadium used in batteries in 2017, twice as much as reported in 2016(see Note 1 below)

    - Following the merger of Mustang's ruby project with Fura, Mustang now ideally positioned to become a leading vanadium and graphite company

    The Mineral Resource, which is all in the Measured category, is 22Mt at 0.37% vanadium pentoxide (V2O5) for a total of 81,600 tonnes of contained vanadium pentoxide.

    This is in addition to the existing graphite Resource at Caula of 5Mt at 13% Total Graphitic Carbon (TGC). Mustang is currently finalising an updated graphite Mineral Resource estimate.

    Mustang Managing Director Dr. Bernard Olivier said the combination of the vanadium and graphite resources shows Caula is rapidly emerging as a highly valuable project.

    "This is an exceptional result, with over 81,000 tonnes contained V2O5, particularly given that the entire JORC Resource is in the Measured category," Dr Olivier said.

    "With vanadium pentoxide prices running at more than US$40,000 per tonne (98% V2O5), the Caula resource translates to a highly valuable resource.

    "Furthermore, the potential of the project is even greater as our vanadium is mica-hosted and associated with the graphite mineralisation and potentially far cheaper to extract and recover through two simple processing steps, compared with most vanadium projects, where the vanadium is located in a complex titaniferous magnetite ore body."

    Geology of the Caula Graphite Deposit

    The Caula deposit is located in northern Mozambique, the graphite mineralisation is hosted in quartzitic schists of the Xixano Complex. The most common lithologies include Graphitic Schists, Gneisses and thin Pegmatoidal zones. Sulphides are occasionally logged but are usually absent. The surrounding country rock consists of Quarzitic and Micaceous Schists and Gneisses.

    The project area is situated in the Mozambique Belt of the East African Orogen, and contains highly metamorphosed meta-sediments and meta-volcanics. The rocks of the East-African Orogen are dated 850 - 620 Ma in which metamorphic facies vary from amphibolitic to granulitic.

    The mineralised zone is contained within a reclined isoclinal fold structure which dips at roughly 60 degrees to the west (see Figure 1 in link below). Due to the region's tectonic history these meta-sediments have been altered to the extent that no sedimentary structure remains.

    Drilling, Sampling and Sub-sampling Techniques

    The drilling program comprised of one RC (reverse Circulation) and 16 DD (Diamond Drilling) boreholes. The initial part of the hole was drilled with PQ (III) until the rock was competent to be drilled with HQ (III). Drill core was orientated wherever possible. The mineralised core was sampled as half (Leco analysis) and quarter (metallurgical test work) core, with the remaining quarter retained in the stratigraphic sequence in the core trays. Appropriate QA/QC samples (standards, blanks, duplicates and umpire samples) are inserted into the sequence as per industry standard.

    Sample Analysis

    Sample preparation and analysis was completed by SGS in Johannesburg. Sampling procedure which include drying, crushing, splitting and pulverizing ensures that 85% of the sample is 75 micron or less in size. A split of the sample is analysed using a LECO analyser to determine total carbon in graphite (TGC%) content. A second split of the sample is prepared for element analysis by XRF to determine V2O5 content. Rougher and multiple re-grind and cleaner flotation, Final concentrate PSD and fraction assays.

    Resource Estimation Methodology

    The geological models used for the resource estimation was created in Voxler (Version 4.2.584), a modelling package developed and distributed by Golden Software in Colorado. The deposit was divided into an upper oxidised zone and a lower fresh zone. Once a specific grade volume has been calculated a weighted average density is applied to the volume and a tonnage is determined.

    Weighted averaging for sample length was applied. No grade truncations were applied. A cut-off grade of 0.2% has been applied. Grade-tonnage curves were produced and could be used to determine the effect of cut-off grades on remaining mineralised tonnages, but the drilled resource is calculated as intersected in-situ. The calculated grade is weighted for representative mass, as calculated in Voxler.

    Cut-off Parameters

    A 0.2% V2O5 grade cut-off was applied. The modelling is limited by drilling extent. The drilling have not intersected and hence delineated the outer edge of barren host rock. The physical limits of the mineralisation will be established with additional future drilling.

    Grade-tonnage curves were produced (See Figures 2 and 3 in link below) and the influence of various cut-off grades can be investigated. The physical deposit boundaries have not been intersected in the drilling work to date and hence the model is suspended within graphite and roscoelite mineralised rock. The western and northern deposit boundary (at shallow depth), is expected to be fixed with the next phase of drilling. The eastern and southern boundaries are open to at least 200m and several kilometres respectively.

    Caula Vanadium Resource Estimate

    The Caula Mineral Resource estimate is based on 16 diamond drillholes totalling 2,233.21 metres (484.72m in 2016 and 1,748.49m in 2017) and one reverse circulation (RC) drillhole totalling 99 metres (see Figure 4 in link below). Drillholes are spaced approximately 85 metres apart along a 540 metre strike length. With the exception of drillhole MORC004 (-77deg), all holes were drilled at inclinations of between 55deg and 60deg from the horizontal.

    The drillhole samples were submitted to SGS in Randfontein (South Africa) for analyses as well as to SGS (Malaga) and Nagrom, Perth for metallurgical testwork. In total, 1,128 assay results were generated and these were used with the drillhole data to complete the Maiden Vanadium Resource estimate.

    Grade estimation was completed using an inverse distance squared method. The deposit was divided into an upper oxidised zone and a lower fresh zone. Points of equal grade within the model boundary are draped with a wireframe shape (of which the anisotropy settings are defined in the gridder module) and the volume for the shape is calculated in Voxler. This is repeated for grades 0.01% V2O5 to 0.65 % V2O5 for the oxidised zone and up to 1.30 % TGC for the fresh zone.

    Once a specific grade volume interval had been calculated (by difference) a weighted average density was applied to the volume and a tonnage determined.

    The Mineral Resource estimate for the Caula Vanadium Deposit is reported using a cut-off grade of 0.2% V2O5 (vanadium pentoxide). The Measured Mineral Resource totals 22 million tonnes at an average grade of 0.37% V2O5 for 81,600 tonnes of contained V2O5 (vanadium pentoxide).

    The results of the Mineral Resource estimate are summarised in Table 1 below (see link below).

    Drillhole information and reporting in accordance with the JORC Code 2012 Edition are included as Appendices to this announcement.

    The grade-tonnage curve for the oxidised zone is shown in Figure 2 below (see link below). The Oxidised Zone displays the following grade-tonnage relationship: at a cut-off grade of 0.1% V2O5 the deposit will have as a balance 12.6Mt of mineralised tonnes at an average grade of 0.26% V2O5, for 34 000 tonnes of contained graphite. At a cut-off grade of 0.2% V2O5 the deposit will have as a balance 8.9Mt of mineralised tonnes at an average grade of 0.31% V2O5, for 27 400 tonnes of contained graphite. At a cut-off grade of 0.3% V2O5 the deposit will have a balance of 3.9Mt of mineralised tonnes at an average grade of 0.38%, for 14,800 tonnes of contained V2O5.

    The grade-tonnage curve for the Fresh Zone is shown in Figure 3 below (see link below). For the Fresh Zone the following relationship is seen from the grade-tonnage curve; At a cut-off grade of 0.1% V2O5 the deposit will have a balance of 17.1Mt mineralised tonnes at an average grade of 0.35% V2O5, for 60 200 tonnes of contained V2O5. At a cut-off grade of 0.2% V2O5 the deposit will have a balance of 13.1Mt mineralised tonnes at an average grade of 0.41% V2O5, for 54 200 tonnes of contained V2O5. At a cut-off grade of 0.3% V2O5 the deposit will have a balance of 9.3Mt mineralised tonnes at an average grade of 0.48%, for 44 900 tonnes of contained V2O5.

    Mineral Resource Classification Criteria

    The resource is classified as Measured. The core losses in the DD boreholes were assigned 0% V2O5 values as a conservative measure. The CP has no reason to doubt the input data from the core logging to the laboratory results. The estimate is conservative and probably understated in both tonnage and grade.

    The surface area of 12.2 Ha is covered by 17 regularly spaced boreholes for an average grid of just less than 85 m squared.

    In addition, the geovariance which was calculated over 13 ranges with 24 data-pairs shows a sill distance of 170m. This calculation is based on information from 16 boreholes, and may well change as it gets updated with new drilling information. Based on this geovariance, the drill spacing at an average of 85m is considered to be sufficient to determine a measured resource.

    Mining and Metallurgical Methods and Parameters

    The resource estimation has assumed that the deposit could potentially be mined using open cut mining techniques. No assumptions have been made for mining dilution or mining widths, however mineralisation is generally broad.

    Syrah Resources Ltd (ASX:SYR) has the Balama graphite project located down-strike on an extension of Caula mineralisation. In 2014 Syrah Resources (ref Syrah Resources "Update on Vanadium Metallurgy" dated 8 April 2014) reported the results of vanadium recovery testwork on their ore. It was noted that that the application of WHIMS and mica flotation processes to the graphite flotation tailings was effective in recovering vanadium and could achieve a combined concentrate grade of > 3% V2O5. Further work showed that commercial grade vanadium pentoxide (>98% Purity) could be produced from this vanadium concentrate.

    Mustang's metallurgical testwork conducted to date at Independent Metallurgical Operations Pty Ltd ("IMO") and Nagrom, both located in Western Australia, has shown that the vanadium reports to the tailings during the graphite flotation process. Vanadium recovery testwork on the flotation tailings showed that a portion of the vanadium could be recovered and concentrated by WHIMS (Wet High Intensity Magnetic Separator. Additional vanadium could be recovered from the WHIMS tailings by a froth flotation procedure aimed at recovering and concentrating micaceous minerals including roscoelite. This work is at a preliminary stage but it has demonstrated strong similarities between the Caula and Balama ores. Ongoing testwork is aimed at optimising vanadium recovery and concentrate grade.

    Project Area Potential

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

    In the immediate vicinity of the Caula discovery, graphite mineralisation has now been defined over a 540m strike length. This mineralisation is up to 230m wide (estimated true thickness) and the depth is completely open-ended at the limit of the current drilling.

    A new program of diamond and reverse circulation drilling has been planned to test for both up-dip and down-dip extensions to the Caula deposit in this area.

    In addition to the potential to define additional graphite and vanadium mineralisation immediately adjacent to the Caula discovery, there is also very strong potential to define high grade graphite mineralisation over the much larger project area.

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

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

    The Company is extremely encouraged by the results received to date from its maiden Vanadium Resource Estimate and the Caula deposit as a whole. The combination of high grade drilling results, positive initial metallurgical testwork, a large V2O5 maiden Measured Resource estimate, large-scale untested exploration targets and the project's location within a demonstrated world-class graphite-vanadium province confirm the project's potential to create significant future value for the Company.

    As previously reported, due to unexpected delays in receiving the final vanadium and graphite assay results back from the independent laboratory, the completion of the maiden vanadium resource estimate as well as the upcoming graphite resource update was delayed. The delay further caused a delay in the estimated completion of the Scoping Study to Q3 2018.

    Vanadium Pricing and Demand

    Worldwide, the major use of vanadium is as an alloying agent in full alloy and high strength low alloy steels. China has recently increased the minimum specification for reinforcing steel used in buildings and as a result, domestic vanadium consumption is expected to increase by 10,000 tonnes per year (Metal Bulletin, August 2017). The vanadium market has already experienced a structural shift, changing China from being a net exporter of vanadium to becoming a net importer of vanadium. The use of vanadium in vanadium redox flow batteries (VRFB batteries), used for large scale energy storage is set to drive a further increase in demand. Consequently, vanadium supplies have tightened and the price of vanadium has increased sharply over the last two years to current levels of US$18.6/lb (~US$40,500/tonne)(see Note 2 below), making it the best performing battery metal of 2017(see Note 3 below). Demand for vanadium is reasonably expected to increase due to demand for use in steel and battery development. Chinese vanadium demand jumped 15% in May over the prior month, as steel mills start preparing for the switch to higher-strength steel(see Note 1 below). In 2017, 3,000t of vanadium was used in batteries, twice as much as reported in 2016, and this feeds into industry forecasts that these figures will at least double again in 2018(see Note 1 below).


    1 Source: Mining Journal 28 June 2018

    2 Based on 18 July 2018 pricing of US$18.6/lb (US$40,500/tonne) for 98% Vanadium pentoxide delivered in China. Source:

    3 "Best performing battery metal of the year isn't cobalt", Mark Burton. Bloomberg. January 26, 2018

    To view tables and figures, please visit:

    Dr. Bernard Olivier
    Managing Director
    M: +61-4-08948-182
    T: +27-66-4702-979
    Media & Investor Relations: 
    Paul Armstrong
    T: +61-8-9388-1474

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    Nanollose Ltd (ASX:NC6) provides the Company Update Presentation.


    PROVEN TECHNOLOGY: Unique scalable process which transforms PLANT FREE microbial cellulose into eco-friendly fibres for textiles and other industrial applications

    HIGHLY DIFFERENTIATED PRODUCT: World first Plant-Free Rayon fibre set to become an alternative to rayon and cotton fibres

    LARGE ADDRESSABLE MARKETS: Initially targeting the US$500 billion textile industry with immediate focus on the US$16 billion rayon market. R&D program underway to penetrate additional markets

    STRONG INTERNATIONAL DRIVERS: Brands, retailers and manufactures are urgently seeking sustainable alternatives to rayon and cotton fibers, both of which cause significant environmental issues


    No trees or plants are impacted no further chemical production needed for Nanollose fibres. Easily retrofitted into current textile and clothing production methods

    EXPERIENCED TEAM: Managing Director Alfie Germano has over 30 years experience in large scale textile product development, and has held VP and director positions at GAP Inc, VF Corporation, & Liz Claiborne.

    To view the full presentation, please visit:

    Alfie Germano
    Managing Director
    Phone: +61-411-244-477
    Michael Wills
    Investor Engagement
    Phone: +61-468-385-208

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    Sayona Mining Ltd (ASX:SYA) (OTCMKTS:DMNXF) provides the Company's latest presentation at Noosa Mining Conference.

    Sayona - At a Glance

    - ASX-listed, lithium exploration and development company

    - Primary objective is to develop the Authier Lithium project concentrate sales, targeting first production in early 2020

    - Authier second-phase, the downstream project, significantly enhances the project value

    - Significant portfolio of lithium exploration properties in Australia and Canada

    Sayona Investment Proposition

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

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

    - Located in a first world country with access to world-class, low-cost infrastructure

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

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

    - Board and management team have track record of delivering projects

    To view the full presentation, please visit:

    Sayona Mining Ltd
    Ph: +61-7-3369-7058

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    The BetMakers Holdings Limited (ASX:TBH) (OTCMKTS:TPBTF) (formally TopBetta Holdings Limited) ("BetMakers", "TBH" or the "Company") is pleased to announce that its newly incorporated subsidiary, BetMakers DNA Pty Ltd ("BetMakers DNA"), has agreed to acquire 100% of the shares in the parent company ("Parent Company") of Global Betting Services Pty Ltd ("GBS") for a total purchase price of $10 Million payable in cash and/or fully paid ordinary shares in the Company.

    - Global Betting Services ("GBS") delivers bookmaking services for respected global Wagering Operators, including William Hill, Sportsbet, Kindred (Unibet), Ladbrokes and Bet365.

    - GBS's flagship product, Price Manager, is a bookmaking tool that allows fixed odds pricing to be an automated process across more than 1,000 events simultaneously.

    - TBH to pay $10 Million in cash and shares, with $1 Million to be paid in cash up-front on completion and the remaining $9 Million to be paid in cash and/or shares.

    GBS is a leading wagering service provider which delivers data services to some of the world's most respected corporate bookmakers including William Hill, Sportsbet, Kindred (Unibet) Ladbrokes, Bet365 and many other leading operators in Australia and the UK.

    Through its flagship product, Price Manager, the GBS integrations feed through historical and live data to consumer-facing racing products, providing a fully integrated solution which is required to operate an online betting system.

    With TBH's strong in-house development and customer support team, significant growth is expected to be achieved by offering a greater diversity of products through GBS's existing integrations to GBS's current client base. The Company's infrastructure also provides the opportunity to expand the client base of GBS with significant opportunities in both the UK and US markets.

    The BetMakers CEO, Todd Buckingham, commented "This is an important and strategic acquisition for TBH in its transition to a complete wholesale offering. GBS has previously operated with a small team and the Company's established development, marketing and support team will allow us to not only expand the client base, but also to increase the products offered through GBS's existing customer integrations."

    "As the market embraces more fixed odds, fixed odds-based products and derivatives globally, the GBS business offering will be well positioned to take advantage of this."

    GBS Managing Director, Gerard Lazare, commented: "This is a very exciting stage for the GBS business. We have some fantastic clients all around the world, and the need to ensure continued support and growth, along with developing new and innovative products, means we need the resources to be able to execute this.

    The BetMakers is the perfect fit for GBS, which I am confident will ensure the business will reach its maximum potential. The current staff and I are excited to be a part of this next phase of the business."

    Terms of the Agreement

    The material terms of the Agreement are as follows:

    - In consideration for the purchase price (described below) the Seller has agreed to sell 100% of the shares in the Parent Company ("Shares") to BetMakers DNA. GBS is 100% owned by the Parent Company;

    - The Agreement will become binding upon the satisfaction (or waiver by BetMakers DNA) of the following conditions precedent:

    o BetMakers DNA undertaking, and being satisfied in respect of, due diligence on the Parent Company and GBS;

    o TBH obtaining shareholder approval in respect of the issue of TBH Shares under the Agreement; and

    o BetMakers DNA and TBH obtaining all regulatory approvals, including any approvals required by ASX and ASIC.

    - The purchase price for the Shares will comprise of:

    o $1,000,000 to be paid in cash on 17 September 2018 (or as extended by a maximum of 7 days at the Seller's discretion) ("Completion").

    o $9,000,000 ("Second Instalment") to be paid on either:

    -- 30 September 2018; or

    -- a date that is after 30 September 2018 but no later than 31 January 2019, ("Second Instalment Payment Date").

    o The Second Instalment may be paid to the Seller (composition of payment to be confirmed by the Seller in writing) by way of:

    -- cash;

    -- the issue of such number of ordinary shares in the capital of TBH ("TBH Shares") to the Seller (or nominee) to the value of $9,000,000 based on a price per share being the 15-day VWAP immediately prior to the Second Instalment Payment Date (subject to a floor price of $0.10 per share)*; or

    -- part cash and the balance of the Second Instalment payable by the issue of TBH Shares to the Seller (or nominee) based on a price per share being the 15-day VWAP immediately prior to the Second Instalment Payment Date (subject to a floor price of $0.10 per share)*.

    o If the Second Instalment is paid after 30 September 2018, in addition to payment of the Second Instalment, TBH must issue 15,000,000 TBH Shares to the Seller (or nominee) at a deemed issue price per share of the 15-day VWAP immediately prior to the Second Instalment Payment Date (subject to a floor price of $0.10 per share)*.

    * subject to the Seller (or nominee) not holding over 19.99% in the total issued share capital of TBH.

    - If BetMakers DNA fails to pay the Second Instalment by 4:00pm (AEDT) on 31 January 2019, the Seller may buy back the Shares for $1.00, provided that the Seller provides written notice before 5:00pm (AEDT) 15 February 2019.

    - Prior to Completion, Gerard Lazare and another key employee of GBS must be offered, and the parties must execute agreements in respect of, employment by BetMakers DNA effective from Completion for a period of 3 years.

    - Until BetMakers DNA pays the Second Instalment, title to the code required to run the servers of the GBS business and the products provided by the GBS business ("Code Base and Data") will be retained by a related party of the Seller (who currently owns the Code Base and Data). GBS will be granted an exclusive licence to use the Code Base and Data until the Second Instalment is paid. Title to the Code Base and Data will be transferred to GBS upon payment of the Second Instalment.

    - The Seller, Mr Lazare and their associates will be subject to restraint provisions for a maximum period of 3 years.

    If the Seller elects to exercise its discretion to be issued TBH Shares in full or partial satisfaction of the Second Instalment, the Company may issue these shares under its 15% placement capacity under ASX Listing Rule 7.1 or, if it does not have enough capacity to issue the shares under ASX Listing Rule 7.1, it will seek shareholder approval prior to the issue of those shares.

    About Global Betting Services Pty Ltd

    GBS has been in operation for the past seven years. The business has evolved as the needs of wagering operators for full life-cycle management of an ever-growing racing product, both in Australia and internationally, has continued to grow. Punters' expectations and sophistication has led to the need for both new content and products, which GBS has been able to service at an ever-increasing pace.

    The flagship product, Price Manager, can provide price fluctuations and a pricing management tool that automates price creation across 1,000s of races simultaneously and has led to all its clients significantly increasing content whilst maintaining or reducing staffing levels.

    Price Manager is now used by the majority of significant bookmakers in Australia. GBS has recently branched out into the UK market with some of the UK's leading operators.

    The racing solution for Price Manager is regarded as the leading solution for wagering operators to manage their own fixed odds prices, which is evidenced by the widespread uptake in the market.

    Jane Morgan
    Investor & Media Relations
    M: +61-405-555-618

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    The BetMakers Holdings Limited (ASX:TBH) (OTCMKTS:TPBTF) ("TBH") is pleased to announce an accelerated nonrenounceable entitlement offer. Eligible shareholders will be entitled to one (1) new fully paid ordinary share ("New Shares") for every two (2) existing shares held in the Company at 7:00pm AEST on Tuesday, 24 July 2018 ("Record Date"), at the offer price of 8 cents ($0.08) per New Share to raise approximately $6.7 million (before costs of the offer) ("Offer").

    The Offer includes an institutional component ("Institutional Offer") and a retail component ("Retail Offer").

    The funds raised from this Offer will be used as follows:

    - The Company is looking to increase its product suite for the wholesale Data & Analytics division of the business and will use funds to continue development and monetisation of these products.

    - The Company has entered into binding agreements with both Dynamic Odds and Global Betting Services and will use funds raised in the Retail Offer to complete these transactions and the make the initial payments to control the entities (should the conditions precedent to each transaction be satisfied or waived)*.

    Please note that Option Holders will not be eligible to participate in the Offer (with respect to any Shares that underlie their Options) unless they first exercise some or all of their Options in accordance with the Option terms. In order to take up the Offer, Option Holders will be required to complete the exercise of their options before the record date of Tuesday, 24 July 2018.

    Any Option Holder who wishes to exercise some or all of their Options (provided the Options are eligible to be exercised on their terms) should contact the Company by Monday 23 July 2018."

    The Offer is only being made available to those shareholders who have a registered address in Australia or New Zealand.

    As this is a non-renounceable offer, the entitlement will not be tradeable on ASX. Eligible shareholders who do not wish to take up their entitlement will not receive any benefit from those entitlements.

    The offer document relating to the Retail Offer ("Retail Offer Booklet") will be released to the ASX on Tuesday, 24 July 2018 and will be mailed to the eligible retail shareholders on Friday, 27 July 2018. Eligible retail shareholders will also receive a personalised entitlement and Acceptance Form.

    Proposed Timetable 
    The current proposed timetable of the Offer is as follows: 
    Institutional Offer Opens                            20 July 2018  
    Institutional Offer Results                          24 July 2018 
    Record Date for Retail Offer                         24 July 2018 
    Retail Offer Booklet, together with Personalised 
    Offer and Acceptance Form Dispatched to Eligible 
    Retail Shareholders                                  27 July 2018 
    Retail Offer Opens                                   27 July 2018 
    Settlement of Institutional Offer                    31 July 2018 
    Quotation of New Shares issued under
    Institutional Offer                                 1 August 2018 
    Retail Offer Closing Date*                          7 August 2018 
    Retail Offer Results                               10 August 2018 
    Settlement of Retail Offer                         14 August 2018 
    Anticipated Date of Issue of New Shares
    under the Retail Offer                             14 August 2018 
    Quotation of New Shares issued under
    Retail Offer                                       15 August 2018 
    Dispatch of Holding Statements                     16 August 2018  
    * Subject to the ASX Listing Rules, the directors of TBH retain the right to extend the closing date of the Offer at their discretion. Any extension of the Closing Date will have consequential effect on the anticipated date for issue of the Shares.

    The dates and times listed above are indicative only and subject to change. TBH reserves the right to amend the above timetable without notice subject to the Corporations Act 2001 (Cth) ("Corporations Act"), the ASX Listing Rules and other applicable laws.

    Cleansing notice

    This notice is given by TBH under section 708AA(2)(f) of the Corporations Act, as modified by ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84 ("ASIC Instrument 2016/84").

    Requirement under section 708AA(7) of the Corporations Act

    As per section 708AA(7) of the Corporations Act, TBH advises that:

    a) the New Shares will be issued without disclosure under part 6D.2 of the Corporations Act, as notionally modified by the ASIC Instrument 2016/84;

    b) this notice is given under section 708AA(2)(f) of the Corporations Act, as notionally modified by ASIC Instrument 2016/84;

    c) as at the date of this notice, TBH has complied with:

    (i) the provisions of Chapter 2M of the Corporations Act as they apply to TBH; and

    (ii) section 674 of the Corporations Act;

    d) as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Corporations Act, as notionally modified by the ASIC Instrument 2016/84; and

    e) the potential effect the issue of the New Shares will have on the control of TBH, and the consequences of that, is set out below.

    Effect of the Offer on Control

    TBH does not expect the issue of New Shares under the Offer to have a material effect or consequence on the control of TBH, but this is dependent on whether eligible shareholders will be taking up their entitlement to New Shares.

    The potential effect that the issue of New Shares under the Offer will have on TBH is as follows:

    (a) if all eligible shareholders take up their entitlements under the Offer, the issue of New Shares under the Offer will have no material effect on the control of TBH and shareholders will retain the same percentage interest in TBH, subject only to minimal changes resulting from ineligible shareholders being unable to participate in the Offer; or

    (b) if a shareholder does not take up their full entitlement, their interest will be diluted relative to those eligible shareholders who do take up their entitlements and relative to those who apply for, and are issued, New Shares under the Shortfall Facility. Acceptance of entitlements or the placement of any of the Shortfall Facility may also result in existing shareholders significantly increasing their interest in the Company or obtaining a substantial interest in the Company.

    Therefore, it is not possible to predict the effect of the Offer on the control of TBH.

    To view the Investor Presentation, please visit:

    Charly Duffy
    Company Secretary
    M: + 61-409-083-780
    Jane Morgan
    Investor & Media Relations
    M: +61-405-555-618

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    Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF) is pleased to announce that Paul Donnelly has been appointed to the Company's board as a Non-Executive Director. Paul's appointment fills a casual vacancy left by the recent retirement of Robert Wale. Mr. Donnelly is an accomplished financial services executive with international experience across all aspects of capital markets, with particular skills in infrastructure and utilities.

    Mr. Donnelly joined Macquarie Group in 1995 where he is an Executive Director. Over the past 23 years at Macquarie Group, Mr. Donnelly has had extensive experience across all aspects of corporate finance and capital markets. He has held several senior roles including Global Head of Equity Capital Markets, Global Head of Debt Capital Markets and country head of Macquarie's Canadian businesses.

    Mr. Donnelly is a member of the Institute of Chartered Accountants in England and Wales and the Australian Institute of Company Directors. He holds a BSc (Hons) from the University of Southampton, and has completed the Advanced Management Program at Harvard Business School.

    Commenting on Paul's appointment to the Board, Fluence's Executive Chairman Richard Irving said: "We are delighted that Paul has joined our Board. He brings extensive global financial markets experience, with particular skills in infrastructure finance, which will support the company's future growth. With an international outlook and skill set, Paul's appointment further strengthens the company's board as we execute our growth plans and deliver on the opportunities we see ahead of us."

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

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    ASX-listed NOVONIX Limited (ASX:NVX) ("NOVONIX" or the "Company") is pleased to announce that its 100%-owned battery cell pilot manufacturing line is now fully commissioned and operational, producing cylindrical cells and pouch cells.


    - NOVONIX's 100%-owned battery cell pilot manufacturing line is now fully operational

    - First batches of batteries have been produced (cylindrical cells and pouch cells)

    - This pilot line will transform NOVONIX's capabilities as it will accelerate the R&D cycle-time and reduce R&D costs

    - The line will support in-house development activities and the provision of commercial battery development services to OEMs and other third-parties

    - The pilot line is located at the NOVONIX manufacturing and research facility in Bedford (near Halifax) in Nova Scotia

    This pilot line will transform NOVONIX's capabilities as it will accelerate the R&D cycle time and reduce R&D costs; it will also provide significant benefits to other companies and institutions in North America.

    Dr Chris Burns, Chief Operating Officer of NOVONIX Limited said that the Company's new capability to build high quality, high performance battery cells provided a significant competitive advantage for its battery materials development and battery testing technologies.

    The pilot line has been established to manufacture full size cylindrical and pouch format batteries to commercial standards to enabling head-to-head performance comparisons with commercial batteries in the market today.

    "The pilot manufacturing line enables the manufacturing of high performance batteries incorporating all processes from slurry making, electrode coating, calendering, winding, and assembly", Dr Burns said.

    The official opening of the cell line included plant tours by prominent battery industry leaders including Professor Jeff Dahn and Professor Mark Obrovac both from internationally recognized Dalhousie University also located in Halifax, Nova Scotia. Several private sector companies also visited with interest in accessing the pilot line to support their development efforts.

    Professor Jeff Dahn said, "This cell line is a great addition to the battery R&D capabilities of the region and will add significant value over the long term."

    Chris Burns said "There has been strong interest from many companies and institutions in our cell line and what NOVONIX is doing and can offer to the battery industry. Many OEMs are now starting to look closer at the design and manufacturing of batteries as they become more critical to the performance and cost of the devices and equipment they sell."

    NOVONIX will be utilizing the cell line to support R&D in a wide range of battery material but with an initial focus on supporting the PUREgraphite R&D programs focused around optimized electrolyte formulations and silicon containing materials for additives to graphite anode materials.

    To view figures, please visit:

    Chris Burns
    Chief Operating Officer
    Phone: +1-902-449-9121
    Philip St Baker
    Managing Director
    Phone: +61-438-173-330

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    Hastings Technology Metals Ltd (ASX:HAS) provides the Company's latest Investor Presentation.

    Hastings Equity Statistics

    Steady growth in market cap since May 2017

    - Market Cap ~ A$ 180m

    - ~ 1200 Shareholders: +55% in 2017

    - Top 10 shareholders owns: ~ 70%

    - A$59m raised since 2014

    - Cash: A$25m as reported on 31st March 2018

    - No Debt

    - Included in the ASX All Ordinaries Index

    JORC Resources and Reserves

    High Neodymium and Praseodymium content

    - Total Measured, Indicated and Inferred Resources now at 21MT(see Note below)

    - Total Probable Ore Reserve at 5.15MT; Additional Production Target of ~ 2.5MT to be added mid 2018

    - Target Total Reserves of 10MT by early 2019 on 100% owned ground

    - DFS only on 100% owned ground; Additonal Reserves from JV tenements in future

    - In-ground ratio of Nd-Pr as % of TREO ranges from 34% (0.40%/1.18%) to as high as 57% locally at Simon's Find deposit

    Note: Hastings ASX release 22 Nov 2017;

    To view the full presentation, please visit:

    Charles Lew
    Executive Chairman
    T: +65-9790-9008
    Stefan Wolmarans
    Chief Operating Officer
    T: +61-9078-7674

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    DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) ("DroneShield") and Intelligent Security Integration Aust. Pty Ltd ("ISI") are pleased to release the following joint statement.

    - DroneShield and Intelligent Security Integration Aust. (ISI) have partnered on Rapid Scout(R) HQ, a vehicle with integrated counterdrone detect and defeat solution.

    - A unique combination of DroneShield's counterdrone system with ISI's on-vehicle and electro-optics surveillance system.

    - The companies to exhibit Rapid Scout(R) HQ with counterdrone capability at the Land Forces 2018 exhibition in Adelaide in September 2018.

    DroneShield (ASX:DRO) (or DRO.AU) is a public Australian company whose products provide protection from intrusions by commercial / consumer grade drones to people and critical infrastructure. DroneShield's products include DroneSentinel(TM) (a sensor fusion, multi-method drone detection system), DroneSentry(TM) (a combined detection and interdiction system), DroneGun(TM) (a hanheld rifle-shaped drone-mitigation device), RadarZero(TM) (a portable drone detection radar) and DroneCannon(TM) (a counterdrone jammer).

    ISI is a Melbourne based Australian private company specialising in security and surveillance equipment. Its flagship product, Rapid Scout(R) HQ and its associated Rapid Scout(R) surveillance sensors, are perfect for use anywhere traditional CCTV has limited or no coverage. Its unique design features and ISI's ability to customise the vehicle for use in any situation, have led to demand from defence and government agencies, emergency service providers, and law enforcement and private security organisations around the Asia Pacific region.

    DroneShield and ISI have partnered on creating the next version of Rapid Scout(R) HQ, a vehicle with an intergrated counterdrone detect and defeat solution. The prior version of Rapid Scout(R) HQ incorporated a vehicle with an advanced surveillance capability, through a combination of a sophisticated mast-mounted CCTV platform on a vehicle. Going forward, Rapid Scout(R) will incorporate a counterdrone module containing DroneShield's RadarZero(TM) (portable drone detection radar), RfOne(TM) (drone detection via an RF direction finder) and/or DroneCannon(TM) (counterdrone jammer) modules into the Rapid Scout(R) platform. The resulting product is believed to be a first of its kind, a non-military vehicle with a suite of counterdrone multisensor detect and defeat solutions.

    DroneShield and ISI will continue marketing their existing respective product suites, which remain unaffected by this partnership. The companies will co-operate on their marketing of the integrated on-vehicle solution.

    The product will be unveiled at Land Forces 2018 in Adelaide, a major Australian-based international defence exhibition.

    Oleg Vornik, DroneShield's CEO commented: "The partnership with an onvehicle surveillance market leader ISI allows DroneShield to enter the vehicle-based law enforcement, security and military market, using a proven vehicle platform that ISI provides. There is a considerable interest in the market today for on-vehicle counterdrone products, which Rapid Scout(R) is well placed to meet using DroneShield's capability."

    Stephen Bell, ISI Managing Director said: "We are excited about this partnership and believe our vehicle-based surveillance capabilities combined with DroneShield's counterdrone sector leadership enable this market leading product to meet customer requiremements in the counterdrone space."

    About ISI Pty Limited

    Intelligent Security Integration Australia Pty Ltd (ISI) has over 20 years of direct experience in security and surveillance equipment sales, installation and support. The Company has created the Rapid Scout(R) HQ and Rapid Scout(R) products, perfect for use anywhere traditional CCTV has limited or no coverage.

    To view figures, please visit:

    Oleg Vornik
    CEO and Managing Director
    Tel: +61-2-9995-7280

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    Canadian focused lithium explorer and developer Ardiden Limited ("ADV" or "the Company") (ASX:ADV) is pleased to announce early drilling success via the Resource expansion diamond drilling program at North Aubry, a highly-prospective lithium-bearing landholding at its 100% owned, flagship Seymour Lake Lithium Project in Ontario, Canada.


    - Successful commencement of new drilling program, with holes ASD001 and ASD002 intersecting spodumene-bearing pegmatite peripheral to the presently defined North Aubry Mineral Resource

    - Re-interpretation of data indicates potential to define a significantly larger Mineral Resource at North Aubry

    - Assay results from previous drilling confirm the discovery of an unknown spodumene-bearing pegmatite about 500m south of the North Aubry prospect

    - Overall aim of the 3000m program is to significantly expand the already defined lithium resource at North Aubry

    The drill program has been designed to test and evaluate the interpreted continuation of the North Aubry pegmatites both along-strike and down-dip. The primary aim of the 3000m program is to define, locate and add more lithium tonnage to complement the current lithium resource already defined at the North Aubry prospect.

    Commenting on the early success in the program, Ardiden CEO and Executive Director, Brad Boyle stated that the Company understands the significant potential that Seymour Lake offers, and there has been a thorough and detailed lead-up which has culminated to a number of impressive targets.

    "The early success in the drilling program reinforces our strong belief on the potential to add a significant amount of tonnage to the already defined resource at North Aubry. We have taken our time in planning and with the assistance of Peter Spitalny, we are aggressively ramping up exploration and drilling with the overall aim of increasing the size and scale at Seymour Lake."


    The current drill program has completed two drill holes (ASD001 and ASD002) with ASD003 in-progress. Both ASD001 and ASD002 have intersected spodumene-bearing pegmatite in positions not tested by previous drilling.

    This is a very encouraging start to the drilling program, and assay results for these samples will be reported as soon as possible.

    The current phase of drilling will focus on additional testing of the North Aubry prospect but includes some drill-holes designed to test recently discovered spodumene-bearing pegmatites south of the North Aubry prospect.


    Earlier in the year, Ardiden completed 13 diamond drill-holes (see Figure 2 in link below), of which the results for 7 holes have been reported (please refer to announcement dated 27/04/2018 for further information), with results for holes SA-18-11 to SA-18-16 recently received by the Company.

    The assay results for the previously unreported holes (SA-18-11 to SA-18-16) are summarized in Table 1 (see link below), with a Collar Table included as Appendix 1 (see link below) and assay results included as Appendix 2 (see link below).

    The results attained by SA-18-11 and SA-18-12 are significant because in both cases spodumene-bearing pegmatites were intersected, however the results of SA-18-12 are particularly encouraging because the intersected pegmatite is near-surface and has potential to extend both along-strike and down-dip (see Figure 3 in link below).

    The down-dip continuation of this pegmatite will be tested as part of the drilling program currently being undertaken.


    The laboratory Ardiden has utilised for assay of samples to-date has received a great amount of samples from multiple clients due to increased exploration activity in the region and this has caused long delays in completing assays. This has greatly delayed Ardiden's reporting of results, including the results from Ardiden's recently completed Pickle Lake drilling program. Ardiden will address this problem by utilising the services of a different laboratory for Seymour Lake drilling program.

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

    To view tables and figures, please visit:

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

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    Argent Minerals Limited (ASX:ARD) (Argent, or the Company) is pleased to report its activities and cash flow for the quarter ended 30 June 2018.


    - Significant Kempfield Resource update: 100 million ounces Ag Eq at 120 g/t Ag Eq / 520,000 tonnes Zn Eq at 2.0% Zn Eq contained metals.

    - Significant upward revision to the Kempfield Exploration Target estimate of further potential mineralisation:

    o Additional 58 to 190 million ounces Ag Eq at 80 to 130 g/t Ag Eq contained silver equivalent - approximately double the previous, and significantly higher Ag Eq grade;

    o Additional 300,000 to 1 million tonnes Zn Eq at 1.3 - 2.1% Zn Eq contained zinc equivalent - newly reported for the Kempfield project.

    An Exploration Target is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade, relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource. The potential quantity and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate an additional Mineral Resource and it is uncertain if further exploration will result in the estimation of an additional Mineral Resource.

    - New development scenario potential identified: major zinc-silver-lead-gold project situated in large scale mining growth neighbourhood.

    - Agreement executed with Kempfield neighbours facilitates large scale project advancement.

    - Cash $1.65 million as at 30 June 2018 ahead of planned Kempfield drilling programme.

    During the quarter, Argent achieved a series of significant developments for Kempfield, which we believe significantly advances the progress of the project - opening up a new potential development scenario as a significant large-scale zinc-silver-lead-gold project in a NSW mining growth neighbourhood.

    On 30 May 2018, the Company announced a significant update for the Kempfield Resource estimate featuring approximately double the previously reported silver contained metals equivalent (Ag Eq) - now 100 million ounces Ag Eq at 120 g/t Ag Eq. This was followed by the 6 June 2018 significant upward revision to the Exploration Target estimate for additional potential mineralisation, as summarised in the above Highlights, and detailed in Appendix B of this announcement.

    The Resource update and the substantial Exploration Target revision are both a direct result of the metallurgical breakthroughs announced on 12 April 2018 - the successful separation of the primary feed material into potentially marketable commercial grade zinc and lead concentrates, which also contain silver and gold.


    New potential development scenario for Kempfield

    The following map illustrates the new potential development scale of the Kempfield project in the context of the immediate large scale mining growth neighbourhood and the underlying highly prospective geology that hosts some of the largest mining projects in Australia.


    On 22 June 2018, Argent announced that it had 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 agreement represents a significant de-risking of the Kempfield project.

    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 of 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).

    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.

    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 coppergold footwall zone located to the west of the current Kempfield resource, as well as the historic Colossal Reef copper mine, to be both included in the next drilling programme.


    During the quarter, Argent completed a reassessment of the planned drilling programmes in view of the commercial impact of the recent metallurgical breakthroughs and updated metals pricing.

    The Company is planning to test the Exploration Target through the following revised drilling programme schedule:

    - Stage 1 - Mineralisation and genetic model verification - comprising approximately 4,100 metres of drilling, targeting completion before the end of CY 2018(see Note below).

    - Stage 2 - Resource category drilling. Further resource infill drilling will be conducted to a level sufficient to estimate an additional mineral resource, if any, initially to Inferred category (contingent on satisfactory results from Stage 1). Stage 2 timing is envisaged to be completed during CY 2019*. Further infill drilling may be conducted by the Company in order to estimate Indicated and Measured categories ahead of potential Ore Reserve assessments, subject to the results of this stage, including a reassessment of the project economics.

    Note: The indicated timings are subject to the completion of heritage surveys where applicable, the timely finalisation of land access matters, the completion of regulatory approvals and statutory notice periods, weather, as well as all and any other operational factors that could affect the ability of the Company to perform drilling.

    The Company is currently expediting Stage 1 from planning through to execution. In addition to hole design, the process involved field checking of hole collar positions and detailed environmental impact assessment, as well as the management of land access matters related to drilling planned outside Argent's freehold land.

    An application for drilling has been submitted to the NSW Government Department of Planning and Environment (NSW DPE) for approval and initial site preparations have commenced.

    Commencement of drill pad construction is subject to, among several items including for example, NSW DPE approval, statutory notifications to the relevant authorities and their responses, and contractor mobilisation.

    To view the report with tables and figures, please visit:

    David Busch
    Chief Executive Officer
    Argent Minerals Limited
    M: +61-415-613-800

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    Rumble Resources Ltd (ASX:RTR) ("Rumble" or "the Company") is pleased to announce that Stage 1 RC drilling has successfully been completed at the Munarra Gully Cu-Au Project ("Munarra Gully"). The Munarra Gully project is located some 50km NNE of the town of Cue within the Murchison Goldfields.

    White Rose Cu - Au Mineralisation

    - All drill-holes (four completed on the White Rose prospect) intercepted visible copper mineralisation beneath the shallow open pits.

    o Visual inspection has confirmed both oxide and primary copper mineralisation is associated with a fine to medium grain pyroxenite (norite - hypersthene dominant) intrusive. Observed copper minerals include chalcopyrite and bornite.

    o Two RC drill sections were completed on 160m spacing.

    Large First Order Conductor - Remains Untested

    - Two drill-holes designed to test a large (470m by 260m) conductor (plate) that lies 600m west of the White Rose Prospect did not intersect the conductor and requires further detailed targetting:

    o The first drill-hole (WRRC-005 - 200m depth) intercepted a late dolerite dyke (non-conductive) that deflected the hole thereby missing the target.

    o The second drill-hole (WRRC-006 - 289m depth) was completed by a larger drill rig. Broad zones of dolerite and fine grain norite were logged, however, no conductive rocks were encountered. The source of the conductance has not been explained.

    - Rumble has commissioned a downhole geophysical survey to better delineate the conductor.

    - Proposed Stage 2 Drilling - Subject to the DHEM survey confirming and vectoring the main conductor, further RC drilling is planned.

    The drilling programme consisted of seven (7) holes for 1149m. Assaying of RC samples will take approximately three (3) weeks. Results from the drilling will be reported as soon as assay results are available.

    White Rose Cu-Au Prospect

    Four (4) drill-holes (WRRC-001 to WRRC-004) were design to test the primary zone below two small open cuts at the main White Rose Prospect. Two traverses, 160m apart were completed. Historic widespread copper and gold mineralisation in oxidised ultramafic/mafic had been exposed in the open cuts. Previous RAB drilling was confined to shallow oxide (vertical depth of 32m).

    Significant copper mineralisation was observed in all four holes. Both oxide and primary copper mineralisation is present. Oxide mineralisation included chrysocolla and malachite. Primary mineralisation included chalcopyrite and bornite. The host is a fine to medium grain pyroxenite intrusion. The pyroxenite is essentially a norite (hypersthene dominant) that has intruded east-west cross cutting the regional geology which strikes northeast.

    Large First Order Conductor

    Two (2) holes were completed. The target is a large conductive plate (470m by 260m) that lies 600m west of the White Rose prospect.

    The first hole (WRRC-005 - 200m depth) missed the target due to the presence of a late dolerite dyke. The hole lifted from 70deg to 45deg and the azimuth moved 20deg.

    The second hole (WRRC-006 - 289m depth) was completed by a larger capacity rig and was able to stay within tolerance with respect to intercepting the modelled conductor. Broad zones of dolerite and fine grain norite were intercepted, however, no conductive lithology (from geological logging) was intercepted. The conductor has not been explained.

    A down-hole TEM (transient electromagnetic) survey has been commissioned to better delineate the conductor in hole WRRC-006.

    Subject to any reinterpretation as a result of the TEM survey, further drilling is planned at the conductor.

    To view tables and figures, please visit:

    Shane Sikora
    Managing Director
    Phone: +61-8-6555-3980

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    Anti-Counterfeit and Customer Engagement solutions provider YPB Group Ltd (ASX:YPB) has signed a Master Supply Agreement to provide Dalda Foods Limited, Pakistan's leading supplier of edible oils, with YPB's 360 degree solution suite to connect it directly with its consumers.

    Dalda will initially utilize YPB's Connect Platform to engage with consumers of its rapidly growing snack food Potato Chip range. Consumer smartphone scan of packaging will enable Dalda to interact with, understand and have direct digital connection with its consumers and to mount targeted and relevant campaigns across Pakistan.

    This contract is for an initial four month trial term which, upon achievement of Dalda's objectives, will be extended to a three year agreement. The trial will be a modest revenue contributor to YPB in 2018 but is likely to grow to become a moderate revenue contributor as the term is extended and YPB coverage expands across other areas of Dalda's business in Pakistan.(see Note below) The rollout will commence immediately with Dalda's snack food range.

    Headquartered in Karachi, the Dalda brand is synonymous across Pakistan and India with edible vegetable oils used in cooking and manufacturing. Dalda was first introduced to Pakistan in the 1930's by Unilever and was sold to the newly formed Dalda Foods (PVT) Ltd in March 2004. "Dalda" has become the generic term for edible oils in Pakistan and India.

    The Dalda brand has grown considerably over the past 15 years and its range expanded and extended. Dalda has recently entered the snack food vertical in Pakistan and has enlisted a number of celebrities including famous Pakistani movie stars and singers to promote its products.

    YPB Executive Chairman John Houston said: "Dalda Foods is one of Pakistan's best known household brands and we are excited to be partnering with a company of its standing and scale. Each year, many millions of units of Dalda's products are sold and consumed across Pakistan and Dalda's entry to new categories is ideally suited to new digital, direct-marketing channels created by the interaction of the smartphone and packaging and powered by YPB Connect. Dalda's consumers whether they be in large regional cities or the small traditional grocery stores across rural Pakistan can directly connect, engage and build a relationship with Dalda."

    Please note:

    Modest revenue contribution:
    Moderate revenue contribution: > AUD100K
    Major revenue contribution: > AUD1m per annum

    Mr. John Houston 
    Executive Chairman
    YPB Group Limited
    T: +61-458-701-088 
    Mr. Gerard Eakin
    YPB Group Limited
    T: +61-427-011-596

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    Alt Resources Limited (ASX:ARS) (Alt or the Company) is pleased to provide this exploration update and advise the resumption of RC drilling at the Company's flagship Bottle Creek Gold Project located at Mt Ida gold belt, Western Australia.

    The second phase of RC drilling commenced Sunday 22nd July with a 2,500 metre program to be executed. The second round of RC drilling will include infill drilling between the recently drilled Emu and Southwark deposits linking the two deposits and extension drilling to the south of the Emu deposit as shown in Figure 1 (see link below).

    Alt's recent outstanding drilling results from the first RC drilling program at Emu and Southwark(see Note below) confirms Bottle Creek contains significant un-mined, high-grade gold mineralisation. In the second round of the RC program, historical drilling is being validated through twinning of 10 historical holes and infill drilling 9 new drill fences for a total of ~44 holes. Historical RC holes are shown in Figure 1 (see link below) as grey dots, Alt's first round RC drilling as black dots and new second round RC holes are shown as red dots. The new infill, twinning and extension drilling will expand the length of strike currently being drilled to 1,800 metres.

    The release of the maiden Bottle Creek JORC resource remains on schedule and is expected to be announced to the market in August 2018, adding to Alt's existing Mt Ida Project JORC 2012 resource of 97,000 ounces Au. The second stage of RC drilling now underway at Bottle Creek will be brought into the resource estimate once drilling of the second phase of RC drilling is completed and the results are validated and modelled. The Company expects to complete the second stage of RC drilling by early August.

    This second phase of RC drilling will test the continuation of mineralisation along strike 300 metres to the south of Emu and 400 metres to the north of Emu between Emu and Southwark. Additionally, Alt has identified a third area 600 metres to the north of the Southwark deposit and has planned a small 16 hole program to test this zone. The previous explorer drilled scout holes intercepting gold in several holes however never fully tested the mineralisation in this area.

    Consistent with the history of Bottle Creek deposits being named after iconic Australian beer labels, Alt will call this area "Cascade" after one of the oldest breweries in Australia (established in 1824 in Hobart, Tasmania). The previous name for the deposit was XXXX.

    Company staff have performed reconnaissance exploration of an area approximately 5 kilometres south-east of the Boags pit area (see Figure 2 in link below) on E29/1016. This area shows several areas of interest which show similar geological characteristics to mineralisation intercepted in Alt's drilling at Emu and Southwark. A number of rock chips and soil samples were collected and despatched for assay.

    The new exploration area is part of the greater Mt Ida Gold Project and has had very little historical exploration work undertaken.

    Alt is preparing POW applications for new exploration drilling at Shepherds Bush, south of the Tim's Find deposit. Tim's Find and Shepherds Bush lie approximately 7km due east of the Bottle Creek gold mine, within the Mt Ida Gold Project. Alt is continuing the ongoing digitisation of historical data for this broader project.


    To view figures, please visit:

    James Anderson
    CEO Alt Resources Ltd
    Peter Taylor
    Investor Relations
    M: +61-412-036-231

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    Ardea Resources Limited (ASX:ARL) (OTCMKTS:ARRRF) ("Ardea" or "the Company") is pleased to announce the results from its recently completed 2.25Mtpa Expansion Study at the Company's flagship Goongarrie Nickel Cobalt Project ("Goongarrie", "GNCP"). Goongarrie is a large mineral resource and this study evaluates the option of a higher throughput base case than that in the Pre-Feasibility Study ("PFS"). The Expansion Study showed significant improvements in the value of the project, the rate of return and the payback period compared to the 1.0Mtpa and 1.5Mtpa PFS results (see ASX announcement 28 March 2018).

    Expansion Study Highlights- 2.25Mtpa over an initial 25-year mine life

    - Annual production of over 10,000 tonnes of cobalt sulphate (2,100 tonnes contained cobalt) and over 81,000 tonnes of nickel sulphate (18,000 tonnes contained nickel)

    - Enhanced NPV from previous PFS estimates

    Case      Pre-tax NPV8      Unleveraged       Post-tax   Payback 
                                Post-tax NPV8     IRR 
    2.25Mtpa  A$3.1 billion     A$2.3 billion     27 %       5.1 years 
    Previous PFS results 
    1.0Mtpa   A$1.43 billion    A$1.04 billion    25 %       5.3 years 
    1.5Mtpa   A$1.93 billion    A$1.40 billion    25 %       5.6 years 

    - Cobalt recovery of approximately 95 % and nickel recovery of approximately 93 % (life of mine)

    - Initial capital cost of approximately A$1,165 million inclusive of 20% contingency

    - Competitive LOM C1 cash cost of approximately US$4.63 / lb nickel metal (before cobalt credits)

    - LOM C1 cash cost of approximately US($0.34) / lb nickel metal (after cobalt credits)

    Key Points

    - 2.25Mtpa base case is easily capable of further expansion using modular processing trains to reflect the true scale of the project

    - The on-site neutraliser source also contains nickel and cobalt mineralisation, which could further reduce operating costs and provide up to an additional 10% production of nickel and cobalt sulphates (not included in the Expansion Study revenue stream)

    - Further upgrade options include scandium production, High Purity Alumina production and in-pit neutraliser optimisation

    - Definitive Feasibility Study (DFS) programs underway including a 7.5 tonne pilot run

    - Goongarrie already attracting strong interest from potential strategic and offtake partners


    The purpose of the 2.25Mtpa Goongarrie Expansion Study was to investigate the optimal throughput that could be achieved using one autoclave processing train. The positive results reflect the favourable metallurgical characteristics of the Goongarrie orebody which enables extremely short residence time in the autoclave, with no significant loss in metal recovery.

    These outstanding metallurgical characteristics and rheology have resulted in an extremely robust unleveraged pre-tax NPV of approximately A$3.1 billion, with a pre-tax IRR of approximately 31% and a rapid payback period of 5.1 years for a 2.25Mtpa operation.

    The 2.25Mtpa start-up option can easily be expanded by adding modular processing trains to take advantage of the full scale of Goongarrie's world-class resource base.

    Commenting on the Expansion Study results, Ardea Executive Chair Katina Law said "We are pleased with the results of this Expansion Study as it highlights the upside potential of Goongarrie and its competitive economies of scale. The primary goal of the Company is to determine a cost-effective start-up scenario and also provide an upside case more suited to a financier or partner seeking a long life, lower cost, sustainable production base in a stable jurisdiction. The results have shown the benefits of scale, demonstrating Goongarrie as a unique battery metals project that can become a significant global producer over a long life."


    1 - GNCP is part of the Kalgoorlie Nickel Project KNP, the developed world's largest cobalt resource

    2 - The 28 March 2018 PFS announcement provide a 1.0Mtpa base case and a 1.5Mtpa option

    To view tables, please visit:

    Ardea Resources Limited: 
    Katina Law
    Executive Chair, Ardea Resources
    Tel: +61-8-6244-5136
    Media or Investor Inquiries:
    Michael Weir, Citadel Magnus
    Tel: +61-8-6160-4900

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    ASX-listed NOVONIX Limited (ASX:NVX) ("NOVONIX" or the "Company") is pleased to announce conditional funding of $487,693 CDN from the Natural Research Council of Canada Industrial Research Assistance Program (NRC IRAP).


    - The National Research Council of Canada Industrial Research Assistance Program supports NOVONIX's R&D efforts with advisory services and a contribution of up to $487,693 CDN alongside investment by NOVONIX.

    - The projects will be run out of NOVONIX pilot manufacturing and research facility in Bedford (near Halifax) in Nova Scotia

    - The primary research focus will be materials development and cell designs for improved battery performance with a focus in electrolytes and silicon/graphite anode materials

    This project, entitled 'Development of Advanced Novel Materials for Improved Lithium Ion Battery Performance', will support work by NOVONIX in development and testing of electrolyte and silicon based anode materials for use in lithium ion batteries.

    NOVONIX Limited Chief Operating Officer, Dr Chris Burns, said that the project has received great support from the Canadian government towards the expansion of research and development at our facility.

    "The funding will help us expand our team of scientists, engineers and technicians working on developing new battery materials", Dr Chris Burns said.

    The project will utilize NOVONIX's new cell pilot line to build batteries as the test vehicles for evaluating new materials. Both industry standard electrode materials as well as graphite materials being produced by NOVONIX's PUREgraphite Joint Venture will be used in research and development trials.

    NOVONIX is now uniquely positioned to be able to process materials, build commercial format pouch and cylindrical cells and test them on internally built High Precision Charger (HPC) systems in order to efficiently develop and optimize the performance of new materials for use in Lithium ion batteries.

    The primary goals of the project are to work on commercially scalable materials that can improve the energy density, lifetime and power capabilities of Lithium ion batteries relative to today's industrial standards and benchmarks.

    "Through the course of this project we expect to show improvements in battery performance building cells with NOVONIX materials and technology. We can then present these results to many of our existing battery manufacturer and OEM customers to demonstrate the value of moving these materials into their supply chain," Dr Burns said.

    NOVONIX was the recipient of conditional NRC IRAP funding on several occasions in the past in support of the development of battery test equipment technologies; however, this is the first project supporting battery materials development.

    To view figures, please visit:

    Chris Burns
    Chief Operating Officer
    Phone: +1-902-449-9121
    Philip St Baker
    Managing Director
    Phone: +61-438-173-330

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    Investigator Resources Limited (ASX:IVR) is pleased to announce that a 24km long traverse of six MT stations was recently completed with positive results at the Maslins copper-gold target. The target is located 50km south of Carrapateena within the OD Belt of iron oxide copper gold ("IOCG") deposits (see Figure 1A in link below).

    - Prospective gravity target in deposit-rich Olympic Dam ("OD") Belt further enhanced by Magneto-Telluric (MT) traverse contracted by Investigator;

    - Underlying conductive "MT flare" similar to recently-recognised signature at Olympic Dam;

    - Maslins IOCG target extends 6km along prospective structure at intersection with MT flare;

    - Partner sought to drill test the high-priority target.

    A signature flare of MT conductivity was recognised by researchers in 2006 under the giant Olympic Dam IOCG deposit (see Figure 1B in link below). This has since gained wide acceptance as representing the conduit for metal-rich fluids that formed the deposit. Offering a breakthrough targeting technique to revitalise mineral discoveries, a Federal Government MT ("AusLAMP") survey was rolled out nationally from 2015.

    The Maslins target was secured under a 100% IVR-held tenement EL 5705 (see Figure 2 in link below) after the AusLAMP survey highlighted the under-explored southern extension of the OD Belt. The federal agency Geoscience Australia had previously nominated the Maslins gravity anomaly as an IOCG target on other grounds in 2010. Investigator modelled Maslins as also having the right density for a prospective IOCG target (see Figure 3 in link below; IVR ASX release 15 February 2016) with a conceptual target size between Carrapateena and Olympic Dam and with a depth range and shape likely to be amenable to modern bulk underground mining.

    The coarse AusLAMP data indicated that a deep MT conductivity flare projected upwards towards the Maslins target. Investigator undertook a closer-spaced MT traverse for which modelling by a consultant geophysicist confirmed the upper extension of the conductive flare into the fault abutting the Maslins target (see Figure 4 in link below). The Maslins MT flare has similar size, shape and conductivity to the OD flare.

    Investigator Resources Limited Managing Director John Anderson said "These exciting results, confirming the MT hotspot under our Maslins target, gives Investigator a front position for a new generation of potential copper-gold discoveries in South Australia. The MT targeting tool recently developed by local research now enables revitalised 3D exploration. With this breakthrough technology in high demand, the planned survey was delayed several months. We now have the data that are interpreted to show the Maslins target is upgraded by a prospective MT vector similar to the signature at Olympic Dam."

    "Modelled to be slightly deeper than Carrapateena - the last IOCG discovery in 2005, Investigator is seeking avenues to drill the high-priority Maslins target as soon as possible." Mr Anderson added.

    The Investigator Resources' results precede a wider government survey infilling the MT coverage in the Carrapateena district (see Figures 1A & 2 in link below). The government data is not expected to be available until later in 2018.

    To view figures, please visit:

    Mr John Anderson
    Managing Director
    Investigator Resources Limited
    T: +61-8-7325-2222
    Mr Peter Taylor
    Investor Relations
    NWR Communications
    T: +61-41-203-6231

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    Oventus Medical Ltd (ASX:OVN) (Oventus, the Company) announces its Appendix 4C Report for the three-month period ending 30 June 2018 (Q4 FY2018) and is pleased to provide a review of progress made during the quarter.


    - Cost reduction program continues with transitional activities well underway to transform Oventus from being a predominantly R&D focussed company to a sales oriented company; spend reduction expected to kick in during calendar Q4 2018

    - Strong clinical trial results further validate 'Oventus Airway Technology' with the Oventus' personalised treatment platform tested on an additional 45 patients (total 95 patients trialled to date across 4 studies) suffering from Obstructive Sleep Apnoea; further clinical trial results to be released in the current quarter

    - New clinical data shows that over three quarters of patients may be able to be successfully treated without the need for CPAP

    - Oventus' 'Sleep Treatment Platform' continues to evolve with the launch of more effective and user friendly variations and extensions of the product range over the next six months

    - Focus on building Oventus USA team continues with several key appointments during the quarter. USA team undertaking marketing and educational activities targeted at driving adoption of 'Oventus Airway Technology' with sleep clinicians

    - Oventus remains in a strong cash position with $9.90m as at 30 June 2018

    Quarterly sales

    Receipts from customers totalled $79,000 in the June quarter (Q4 FY2018), compared to $101,881 in the March 2018 quarter (Q3 FY2018).

    During the reporting period, work continued to build Oventus' two main sales channels; with dentists through 'the dental channel' (predominantly through our agreement with Modern Dental) and with sleep physicians through 'the sleep channel'. To help drive referrals through both channels, Oventus is focussed on stakeholder education and generating clinical data.

    Sales volumes are yet to accelerate since launching with Modern Dental in early CY18 due to long lead times on treatment uptake and the additional education typically required when launching a new treatment modality. To this end Modern has also been investing heavily in education for the dental channel.

    In the sleep channel, Oventus is focussed on the generation of clinical data and education of stakeholders to drive referrals for Oventus Airway Technology. The investment in the sleep channel is being spear-headed by a newly formed, but very experienced and well credentialed US sales team.

    Early feedback from the sleep community has been exceptional and the Company remains very positive that sales will build in the second half of CY18.

    Founder and Clinical Director, Dr Chris Hart commented, "The Oventus treatment platform and the clinical trial data to support its adoption has undergone a rapid evolution over the last two years.

    Historically we have been viewed by dentists, the sleep profession and the market as another sleep apnoea mouthguard company selling into a very competitive oral appliance market. However, with the product development undertaken and supporting clinical trial data being generated, in combination with access to existing reimbursement codes and a clear regulatory pathway, Oventus is now emerging as an airway management company.

    With strong interest in our 'Sleep Treatment Platform' and continued adoption across dental and sleep channels, we should start to see increasing revenues in future quarters."

    Operational staff appointments

    Oventus continued to build out its operational, sales and marketing capability in North America to support the implementation of the Modern Dental distribution arrangement and the introduction of products into the Sleep channel.

    Peggy Powers, Clinical Educator, North America joined the team during the quarter. Peggy will support expansion through developing and running comprehensive training programs. She joins Robin Randolph, Vice President, Marketing and Operations and Greg Eaton, Vice President Sales, who were both appointed earlier in the year. Importantly the team has long standing relationships through prior roles in industry.

    Dental channel update
    Product roll out with Modern Dental

    Australia: Following the launch by Southern Cross Dental in late 2017, there has been increased focus on training dentists. This includes three target groups:

    1. Dentists that don't currently incorporate Dental Sleep Medicine into their practice - raising awareness on how screening for sleep disorders can expand their practice offering and profitability.

    2. Dentists already delivering mandibular advancement devices (MADs) - explaining how 'Oventus Airway Technology' can be tailored to patients to improve treatment outcomes.

    3. Advanced Sleep Dentists that have the ability to incorporate combination therapy into clinical practice

    Dentist training and education partnerships

    - Oventus is bringing Dr Leopoldo Correa to Australia in August to provide training on Dental Sleep Medicine and OSA. Dr Correa is an Associate Professor and Director of the Dental Sleep Medicine Fellowship Program at Tufts University School of Dental Sleep Medicine, Boston. This training is set to coincide with the launch of Oventus's Optima product range and the first of its PEEP valve products, named Oventus ExVent

    - Oventus has been developing a Sleep Program in partnership with Australian Medical Home Sleep Testing (AMHST) to assist dentists with the screening, diagnosis and treatment of patients suffering OSA. The program will launch in August and include screening for increased nasal resistance, which is a key clinical indication for prescribing 'Oventus Airway Technology' as part of a patient's oral appliance therapy

    - Oventus recently secured prominent dental-sleep educational course relationships with National Sleep Alliance and DreamSleep, both of which will offer comprehensive training and incentives to Modern dentists.

    USA: Oventus continues to implement its distributor strategy, with a dental channel training program being rolled out in conjunction with Modern Dental.

    Smile Source Exchange conference

    In early May, Dr Chris Hart presented by invitation at a Smile Source Exchange conference in Anaheim, California. Smile Source supports a network of 500 dental clinics across the US and offers a range of member-based training initiatives. This work was conducted in combination with efforts to on-board larger groups of sleep physicians and sleep labs.

    Sleep channel update


    Following the release of clinical evidence, sleep specialists have indicated a willingness to adopt and recommend 'Oventus Airway Technology' as a treatment for obstructive sleep apnoea (OSA) when continuous positive airway pressure (CPAP) treatment fails. The development of the new PEEP technology "ExVent" and "ONEPAP" and the clinical trial data being generated at Neuroscience Research Australia (NeuRA) by Prof Danny Eckert and his team, is showing that this extension of 'Oventus Airway Technology' may be able to treat over half of patients that have previously failed both CPAP therapy and oral appliance therapy, increasing the reach of 'Oventus Airway Technology' to successfully treating more than three quarters of patients with-out the need for CPAP.

    USA: In recent months, Robin Randolph and Greg Eaton from Oventus USA have met or forged relationships with a range of prominent US Sleep networks.

    The recent American Academy of Dental Sleep Medicine (AADSM) and SLEEP 2018 exhibitions in Baltimore in June provided excellent opportunities to network with key executives whilst raising awareness with the wider dental and sleep community.

    Dr Chris Hart will be undertaking activities in the USA later in the current quarter, presenting to sleep physicians the benefits of Oventus' personalised 'Sleep Treatment Platform' and onboarding them with the technology.

    Product development

    As a result of the launch of a number of new appliances over the coming six months that all incorporate 'Oventus Airway Technology', Oventus will be able to treat an increasing number patients suffering from obstructive sleep apnoea with minimal intervention, offering a viable CPAP alternative. The Oventus 'Sleep Treatment Platform' offering will enable a personalised patient-centric approach to sleep medicine.

    An overview of appliances in the Oventus 'Sleep Treatment Platform' and their relative efficacy based on clinical trial results is shown below (see link below).

    Product development has been guided by clinical trial results and market feedback on the existing range of devices.

    The titanium O2VentTM appliance range currently on the market has continued to evolve to make the devices lower profile and more ergonomic as well as being compatible with the newly developed Oventus ExVent and ONEPAP devices.

    The O2VentTM Optima bespoke nylon devices are ultralight weight and much lower cost to produce than the titanium O2Vent(TM) appliances. These products remain on schedule for launch in the 4th quarter of calendar 2018 and will be backed up by six clinical trial data sets being presented at the European Respiratory Society Congress in Paris this September and the Australasian Sleep Association's Sleep Down under in Brisbane in October.

    Alongside the O2VentTM nylon appliance range, Oventus will soon launch the ExVent positive end expiratory pressure (PEEP) valve. The ExVent integrates into the 'duckbill' in the airway of the O2VentTM oral appliances, further enhancing efficacy for a number of patients. This device accessory controls exhalation for patients utilising the Oventus' O2VentTM airway, generating positive air pressure on exhalation, creating a micro CPAP-type effect.

    The O2VentTM ONEPAP appliance (incorporating a titratable PEEP valve and nasal pillows) is on track for launch in early 2019. This appliance is designed for patients with more severe sleep apnoea and is undergoing trials as part of the NeuRA study. ONEPAP is possibly the most exciting extension of Oventus Airway Technology and in fact has the potential to elevate the efficacy of oral appliance therapy to that of CPAP for many patients.

    Clinical trial results

    Very positive clinical data covering an additional 45 patients in clinical trials was released during the quarter from two studies; OVEN-005 'Sydney NeuRA' trial and the OVEN-003 'Brisbane' trial.

    Click here view the 'Sydney' clinical trial result announcements. (see link below)

    Brisbane study

    Final results were announced for a randomised, crossover clinical trial in Brisbane examining the treatment outcomes of oral appliance therapy with and without 'Oventus Airway Technology' in a group of 32 patients suffering from obstructive sleep apnoea.

    Click here to view the 'Brisbane' clinical trial result announcement. (see link below)

    Summary of trial result findings

    To date, data has been collected and analysed across 95 patients suffering from OSA over four clinical studies, all consistently showing strong clinical efficacy of the O2VentTM oral appliance, validating 'Oventus Airway Technology' for use in both oral appliances and as a CPAP interface. See the ASX announcements section of our website for reported data:

    Further results are expected in calendar Q4 2018 from the OVEN-004 'Perth' study covering 23 patients and the OVEN-005 Sydney NeuRA Study with a further 16 patients.

    Cost reduction

    Oventus is well progressed into a program of reducing R&D spend and diverting resources into sales channels while containing costs as part of a transition, moving from being a predominantly R&D focussed company to a sales oriented company.

    The Company aims to further reduce operating overhead by reducing activities in its Melbourne office and by fully outsourcing manufacturing of its titanium O2VentTM appliance in a strategic move to become a virtual device manufacturer. This move will enable Oventus to focus on its core value proposition of driving innovation in airway management and the incorporation of its technology into existing workflows and channels.

    Patent application approvals

    Patent approval was received from the US Patent and Trade Mark Office, number US-10,010,444, and European Patent Office, number EP-2,709,572 in June. The approvals provide Oventus with protection for its 'Airway Technology' incorporated into its O2VentTM oral appliances for the treatment of sleep apnoea and snoring. This newly approved patent sits within an existing family of patents previously approved and, importantly, provides Oventus with patent protection in its key target market of the US and Europe. Oventus already holds patent protection in Australia.

    Cash position

    As at 30 June 2018, the Company maintained a solid cash position of $9.90m.

    Upcoming events

    Oventus will be taking part in the upcoming Sleep DownUnder 2018 conference in Brisbane from 17-20 October at the Brisbane Convention and Exhibition Centre, run by the Australasian Sleep Association (ASA).


    Looking forward, Oventus is well positioned to drive sales in this current second half of calendar 2018.

    Oventus invites you to follow our progress via our website at

    To view figures, please visit:

    Mr Neil Anderson
    Managing Director and CEO
    M: +61-403-003-475
    Jane Lowe
    IR Department
    M: +61-411-117-774 or 

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