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Asia Business News

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    The Board of The Betmakers Holdings Limited (ASX:TBH) (OTCMKTS:TPBTF) ("TBH") wishes to announce the completion of the retail component ("Retail Offer") of the accelerated non-renounceable pro-rata entitlement offer of fully paid ordinary shares in TBH ("New Shares") to raise approximately $6.7 million (before costs of the offer) ("Offer").

    Under the institutional component of the Offer, TBH raised approximately $1.04 million through the issue of 12,961,897 New Shares.

    The Retail Offer opened on Friday, 27 July 2018 and closed at 5:00pm (AEST) on Tuesday, 14 August 2018 ("Closing Date"), raising approximately $435,000. Eligible retail shareholders subscribed for 5,437,564 New Shares under the Retail Offer.

    Approximately 65.7 million New Shares ("Shortfall Shares") will now be offered to either existing shareholders or new investors at the Board's discretion (subject to the requirements of the ASX Listing Rules and the Corporations Act) and will be placed within three months of the Closing Date. The Shortfall Shares represent those entitlements that were not taken up by eligible retail and institutional shareholders under the Offer.

    If issued, the Shortfall Shares will be issued at a price not less than the issue price of the New Shares under the Retail Offer. Shareholders will not receive any payment or value for the entitlements not taken up under the Retail Offer that are subsequently taken up as Shortfall Shares.

    The Company will also be due to receive a further $3 million from the sale of its wholly-owned subsidiary, TopBetta Pty Ltd, and the associated 'TopBetta' and 'MadBookie' retail assets on or before 30 September 2018.

    Charly Duffy
    Company Secretary
    E: companysecretary@thebetmakers.com
    M: + 61-409-083-780
    
    Jane Morgan
    Investor & Media Relations
    E: investors@thebetmakers.com
    M: +61-405-555-618

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    Altech Chemicals Ltd (ASX:ATC) provides the Company's latest Presentation.

    Our Vision

    - World leading producer of high purity alumina (HPA) - 4,500 tonnes pa

    Sapphire Gemstone

    - Sapphire gemstone

    - Natural form of high purity alumina (HPA) Al2O3

    - Formed by mother nature like diamonds

    - Colour from impurities

    - Nearly as hard as diamond (Mohs 9)

    What is HPA?

    - Purified alumina (Al2O3)

    - 99.99% (4N) purity or greater

    - Smelter Grade Alumina (SGA) ~ 99.5% (5,000ppm impurities, mainly sodium)

    - Bayer Process uses sodium hydroxide (NaOH)

    - Sodium impurity is a problem for sapphire and lithium batteries

    To view the full presentation, please visit:
    http://abnnewswire.net/lnk/5A60M214

    Iggy Tan
    Managing Director
    Altech Chemicals Limited
    Tel: +61-8-6168-1555
    Email: info@altechchemicals.com 
    
    Shane Volk
    Company Secretary
    Altech Chemicals Limited
    Tel: +61-8-6168-1555
    Email: info@altechchemicals.com
    
    Investor Relations (Europe)
    Kai Hoffmann
    Soar Financial Partners
    Tel: +49-69-175-548320
    Email: hoffmann@soarfinancial.com

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    White Rock Minerals Ltd (ASX:WRM) ("White Rock" or the "Company") is pleased to provide an update on exploration activities currently underway at its 100% owned high-grade zinc VMS project at Red Mountain in Alaska.

    - Drill hole HR18-01 intersected 1.4m @ 17.4% Zn, 3.9% Pb, 90g/t Ag & 1.6% Cu for 25.8% ZnEq1 from 48.2m down hole.

    - Drill hole HR18-02 intersected 1.8m @ 13.8% Zn, 3.1% Pb, 56g/t Ag & 0.9% Cu for 19.5% ZnEq1 from 60.8m down hole.

    The first ever drill testing of the massive sulphide horizon discovered by recent ground reconnaissance at the Hunter prospect (refer ASX Release on 1 August 2018 "White Rock - Red Mountain - New Massive Sulphide Discovered") has confirmed the zinc-rich massive sulphide discovery with massive sulphide intersected in the first two drill holes completed (refer ASX Release on 6 August 2018 "Drilling Confirms Zinc-Rich Massive Sulphide at Hunter") .

    Holes HR18-01 & HR18-02 tested the massive sulphide 50m down dip from the discovery outcrop on the surface and then a second follow-up hole another 30m down dip from that hole and on the same cross section. A third hole (HR18-04) tested the mineralised horizon a further 80m down dip and intersected 5cm of massive sulphide. The Hunter prospect remains open down dip, and the VMS horizon that hosts this prospect has been traced for over 500 metres on the surface. The drill rig has now moved to test another new target at the South Platypus prospect, 3km east of the Hunter prospect.

    MD & CEO Matt Gill said "There aren't many places in this world where you find outcropping zinc-rich massive sulphide (with lead, copper, silver and gold) and then promptly drill test that and get a positive response. We are excited by the success of our first field season in Alaska at the Red Mountain project. Through an aggressive approach deploying a drill rig early on the tail of geological prospecting, surface sampling and ground geophysics, we have been rewarded with the discovery of massive sulphide mineralisation in outcrop within three months of starting our very first program. Mapping and drilling has now illustrated that the Hunter prospect has scale for more detailed drill evaluations in the coming year.

    The high-grade zinc results from the first two drill holes have confirmed mineralisation sampled from the discovery outcrop. While the third hole intersected a narrower band of massive sulphide, we know from the West Tundra deposit (9km to the west) that occasionally the VMS horizon pinches locally, but the potential remains high for good thickness and grade along strike and further down dip. Significantly, Hunter also contains around 1% copper.

    The discovery of a new massive sulphide occurrence at Hunter goes a long way to supporting the thesis that the Red Mountain project has the potential to host multiple deposits and expand into a true VMS camp. The Hunter discovery shows that our tenement package could be hiding several other massive sulphide deposits ripe for discovery through systematic ground coverage and the application of modern geochemistry and geophysics techniques which we have been using this field season."

    Hunter Prospect

    The Hunter prospect was recently discovered through geological ground reconnaissance, where a 60cm wide massive sulphide outcrop rich in sphalerite (zinc) and galena (lead) was found. Subsequent prospecting mapped massive sulphide over 500m of strike within a carbonaceous phyllite that can be traced over 1km of strike. The zone of mineralisation is defined by anomalous soil geochemistry. Rock chip sampling of the massive sulphide from the discovery outcrop, as well as trenching along strike to define the position of the massive sulphide mineralisation, returned assay results up to 18.6% Zn, 5.4% Pb, 2.3% Cu, 147g/t Ag & 0.7g/t Au.

    The massive sulphide horizon occurs along a steep south facing slope, strikes east-west and dips at approximately 45deg towards the north (see Figure 2 in link below). The massive sulphide horizon is hosted towards the base of a sequence of carbonaceous phyllites at the contact with underlying maroon-green phyllites. The horizon is locally associated with the development of chert beds within the sequence. A number of faults are interpreted to offset the horizon locally.

    The first drill hole (HR18-01) was located above the massive sulphide horizon up slope to the north and drilled vertically so as to intersect the massive sulphide at a shallow position and confirm the dip of the VMS horizon. The second drill hole (HR18-02) targeted the massive sulphide horizon down-dip to the north from the same location. Both drill holes intersected massive sulphide mineralisation with high grade zinc, similar to the discovery outcrop.

    HR18-01 intersected 1.4m @ 17.4% Zn, 3.9% Pb, 1.6% Cu, 90g/t Ag & 0.2g/t Au from 48.25m down hole.

    HR18-02 intersected 1.8m @ 13.8% Zn, 3.1% Pb, 0.9% Cu, 56g/t Ag & 0.2g/t Au from 60.84m down hole.

    Subsequently a third hole (HR18-04) was drilled a further 80m down-dip and 5cm of massive sulphide within a 30cm interval of laminated pyrite was intersected. While HR18-04 didn't intersect significant massive sulphide, the mineralisation at Hunter appears analogous to that at West Tundra 9 km to the east-northeast. At West Tundra the mineralised horizon is laterally extensive along strike and down-dip with some drill holes occasionally returning only narrow intersections where the mineralised body pinches locally. No drilling has yet tested the Hunter mineralised horizon along strike to the east or west or further down-dip.

    About Red Mountain (as more fully set out in the ASX Announcement dated 15 February 2016)

    - The Red Mountain Project is located in central Alaska, 100km south of Fairbanks, in the Bonnifield Mining District. The tenement package comprises 230 mining claims over a total area of 143km2.

    - The Red Mountain Project contains polymetallic VMS mineralisation rich in zinc, silver and lead, with potential for significant gold and copper.

    - Mineralisation occurs from surface and is open along strike and down-dip.

    - White Rock used historical drilling to determine a maiden JORC 2012 Mineral Resource estimate for the Dry Creek and West Tundra Flats deposit (ASX Announcement 26th April 2017). The Inferred Mineral Resource contains an impressive base metal and precious metal content with 678,000t zinc, 286,000t lead, 53.5 million ounces silver and 352,000 ounces gold.

    - Good preliminary metallurgical recoveries of >90% zinc, >75% lead, >80% gold, >70% silver and >70% copper.

    - Previous drilling highlights (ASX Announcement 15th February 2016) include:

    Dry Creek

    o 4.6m @ 23.5% Zn, 531g/t Ag, 8.5% Pb, 1.5g/t Au & 1.0% Cu from 6.1m

    o 5.5m @ 25.9% Zn, 346g/t Ag, 11.7% Pb, 2.5g/t Au & 0.9% Cu from 69.5m

    o 7.1m @ 15.1% Zn, 334g/t Ag, 6.8% Pb, 0.9g/t Au & 0.3% Cu from 39.1m

    West Tundra Flats

    o 1.3m @ 21.0% Zn, 796g/t Ag,9.2% Pb, 10.2g/t Au & 0.6% Cu from 58.6m

    o 3.0m @ 7.3% Zn, 796g/t Ag, 4.3% Pb, 1.1g/t Au & 0.2% Cu from 160.9m

    o 1.7m @ 11.4% Zn, 372g/t Ag, 6.0% Pb, 1.7g/t Au & 0.2% Cu from 104.3m

    - VMS deposits typically occur in clusters ("VMS camps"). Deposit sizes within camps typically follow a log normal distribution, and deposits within camps typically occur at regular spacing. The known deposits at Dry Creek and West Tundra Flats provide valuable information with which to vector and target additional new deposits within the Red Mountain camp.

    - Interpretation of the geologic setting indicates conditions that enhance the prospectivity for gold-rich mineralisation within the VMS system at Red Mountain. Gold mineralisation is usually found at the top of VMS base metal deposits or adjacent in the overlying sediments. Gold bearing host rocks are commonly not enriched in base metals and consequently often missed during early exploration sampling. This provides an exciting opportunity for potential further discoveries at Red Mountain.

    - White Rock sees significant discovery potential, given the lack of modern day exploration at Red Mountain. This is further enhanced by the very nature of VMS clustering in camps, and the potentially large areas over which these can occur.

    To view tables and figures, please visit:
    http://abnnewswire.net/lnk/XKJD0M0D

    Matthew Gill (Managing Director & CEO)
    Phone: +61-3-5331-4644
    
    Shane Turner (Company Secretary)
    Phone: +61-3-5331-4644
    Email: info@whiterockminerals.com.au
    Website: www.whiterockminerals.com.au

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    Carnarvon Petroleum Limited ("Carnarvon") (ASX:CVN) (OTCMKTS:CVONF) has completed its assessment of the hydrocarbon volumes within the Dorado structure in WA-437-P and is pleased to provide the following report as at 20 August 2018:

    -------------------------------------------------------------
    Gross Contingent Resource          1C       2C       3C 
    -------------------------------------------------------------
    Oil (million barrels)              82       171      320 
    Condensate (million barrels)       6        16       36 
    Total liquids (million barrels)    88       186      356 
    Gas (billion cubic feet)           229      552      1,197
    Barrels of oil equivalent 
    (million barrels)                  128      283      566 
    ------------------------------------------------------------- 
    

    Carnarvon's Managing Director and CEO, Adrian Cook said "the 171 million barrels of oil discovered in Dorado is one of the largest oil resources ever found on the North West Shelf.

    Oil fields of this significant scale are not often found, with the last large field discovery on the North West Shelf being around 30 years ago.

    It is common for additional resources to be discovered in the surrounding area after a large discovery. In this regard we expect to provide the market with further details on prospects identified by the play concept now proven at Dorado, that we believe have the potential to also contain oil resources."

    "The gas and condensate discovered in the Phoenix Project is also is a significant and valuable resource that is in addition to the discovered oil. Dorado discovered 552 billion cubic feet of gas and 16 million barrels of condensate on a 2C basis. When combined with the nearby Roc field, the aggregate resource is around 884 billion cubic feet of gas and 36 million barrels of associated condensate on a gross 2C basis." Mr Cook said.

    These volumetric results reiterate the significance of the Dorado discovery and we look forward to maturing this resource and finding additional neighbouring resources in our future drilling programs."

    Carnarvon's 20% share of the gross contingent resources within the Dorado structure are as outlined in the table below (note, these figures do not include the contingent resources discovered in the nearby Roc field):

    ------------------------------------------------------------- 
    Net Contingent Resource             1C       2C      3C 
    ------------------------------------------------------------- 
    Oil (million barrels)               17       34      64 
    Condensate (million barrels)        1        3       7 
    Total liquids (million barrels)     18       37      71 
    Gas (billion cubic feet)            46       110     240 
    Barrels of oil equivalent 
    (million barrels)                   26       57      113  
    ------------------------------------------------------------- 
    

    The contingent resources in the Roc field referred to in this announcement are 332 bcf of gas and 20 million barrels of condensate (gross, 2C basis) - Refer to Carnarvon Petroleum's ASX announcement on 23 April 2018 for detailed information on this resource. Carnarvon is not aware of any new information or data that materially affects the Roc resource information included in this report and that all material assumptions and technical parameters underpinning the estimates in this announcement continue to apply and have not materially changed.

    The contingent resources have been calculated by Carnarvon Petroleum using deterministic and statistic volumetric methods based on the interpretation of porosity, hydrocarbon saturation and net reservoir thickness from the wireline logging program, the analysis of potential hydrocarbon columns from the pressure data and the fluid properties derived from the oil, gas and condensate samples and applied to the structure map with recovery factors calculated using analogues and industry standards.

    These contingent resources have been aggregated by arithmetic summation and hence the aggregate 1C may be a very conservative estimate and the 3C may be a very optimistic estimate due to the portfolio effects of arithmetic summation.

    These are classified as contingent resources according to SPE-PRMS guidelines as the potential development concept has not yet been finalized or sanctioned.

    To view tables, please visit:
    http://abnnewswire.net/lnk/48WQC054

    Investor inquiries:
    Thomson Naude
    Company Secretary
    Phone: +61-8-9321-2665
    Email: investor.relations@cvn.com.au
    
    Media inquiries:
    Luke Derbyshire
    Managing Director, Spoke Corporate
    Phone: +61-488-664-246
    Email: luke@spokecorporate.com

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    DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) ("DroneShield" or the "Company") is pleased to advise that its full product suite has been approved for placement on, and placed on, the GSA Schedule.

    - Full DroneShield product suite approved by the U.S. government for placement on the GSA Schedule.

    - The GSA Schedule is a list of products pre-approved for purchase by U.S. government agencies (and includes pre-negotiated prices and purchase terms of these products).

    - DroneGun, DroneSentry and DroneSentinel, as well as DroneShield's other products now available to U.S. government agencies with the click of a button.

    The GSA (General Services Administration) is an agency of the United States government that supplies products for U.S. government offices and operates the Federal Acquisition Service (the FAS). As part of this effort, it maintains the GSA Schedule, which other U.S. government agencies can use to buy goods and services. Procurement managers from various U.S. government agencies can seamlessly make purchases of the products that are on the GSA Schedule, knowing that the terms of such purchases have been preset between the vendor and the GSA. The process is further streamlined through GSA Advantage, an online government purchasing service run by the GSA in order to provide a streamlined and efficient purchasing portal for U.S. governmental agency procurement. The official description of GSA Advantage refers to it as "the Federal Government's premier online shopping superstore."

    As part of the placement on the GSA Schedule and GSA Advantage for federal procurement, DroneShield's products have also been approved as qualifying for purchase through GSA Advantage by state and local governments.

    This is an important step for the Company as it allows any U.S. federal agency and U.S. state and local government agencies, to buy DroneShield's product seamlessly, from a pre-qualified catalogue of products, without going through a competitive and bespoke process.

    DroneShield CEO Oleg Vornik commented "United States federal, state and local governmental agencies are responding to the ever-increasing drone threats by taking proactive measures. The placement of DroneShield's product suite, including its drone detection and drone mitigation products, on the GSA Schedule and in the GSA Advantage catalogue now allows for instant and pre-approved procurement of the Company's products by governmental employees with appropriate authority, at a click of a button."

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

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    Mithril Resources Ltd ("Mithril") (ASX:MTH) is pleased to advise that it has executed a Farm-in and Joint Venture Agreement with Monax Mining Ltd ("Monax") (ASX:MOX) whereby Monax is entitled to earn up to an 80% interest in Mithril's Limestone Well tenements (EL's 20/846 and 51/1069) by completing exploration expenditure of $2.5M over 5 years.

    - Monax Mining Ltd to earn up to 80% of Mithril's Limestone Well tenements by completing exploration expenditure of $2.5M over 5 years

    - Limestone Well lies directly north along strike from the Barrambie Titanium Vanadium Deposit (2012 JORC Inferred + Indicated Resource of 280.1Mt @ 9.18%TiO2 and 0.44%V2O5)

    - Monax to undertake aircore drilling to test Limestone Well's vanadium potential as soon as possible

    The Limestone Well tenements (located 90 kilometres southeast of Meekatharra, WA - see Figure 1 in link below) lie immediately along strike from the Barrambie Titanium Vanadium Deposit (2012 JORC Inferred + Indicated Resource of 280.1Mt @ 9.18%TiO2 and 0.44%V2O5 - Neometals Limited ASX Announcement dated 17 April 2018).

    At Barrambie, the mineralisation occurs within a series of magnetite - bearing mafic rocks (anorthosite and gabbro) which can be traced in regional magnetics for 10's of kilometres strike both north and south of the deposit, including onto Limestone Well (see Figure 2 in link below).

    Monax plans to undertake reconnaissance aircore drilling to determine the vanadium potential of the magnetic units at Limestone Well as soon as possible.

    Commenting on the new Farm-In and Joint Venture, Mithril's Managing Director Mr David Hutton welcomed the new exploration initiative by Monax and looked forward to seeing the results of their work.

    "Importantly the new agreement allows Mithril to remain focussed on the Kurnalpi Nickel Project where drilling has just finished and assays are awaited, and the new Billy Hills Zinc Project where two tenements have just been granted"

    The terms of the Farm-in and Joint Venture Agreement are as follows:

    - Monax to spend a minimum of $150,000 in the first year before it can withdraw.

    - Monax can earn a 60% interest in the tenements by expenditure of $1.5M (inclusive of the $150,000 First Year minimum expenditure) over 3 years - Stage 1.

    - At end of Stage 1, Mithril has the right to contribute on a pro rata basis.

    - If Mithril elects not to contribute, Monax can earn a further 20% by expenditure of a further $1M within a further 2 years - Stage 2. (Total of $2.5M over 5 years to earn 80%)

    - At end of Stage 2, Mithril has the right to contribute on a pro rata basis or dilute.

    To view figures, please visit:
    http://abnnewswire.net/lnk/39VAPEAX

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

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    White Rock Minerals Ltd (ASX:WRM) ("White Rock" or the "Company") wishes to advise that its Managing Director and Chief Executive Officer, Matt Gill, will present at Proactive Investors' Spotlight CEO Investor Sessions today in Sydney and tomorrow in Melbourne.

    A copy of the Investor Presentation is attached (see link below).

    This presentation can also be found on the Company's website.

    To view the Investor Presentation, please visit:
    http://abnnewswire.net/lnk/67O04354

    Matthew Gill (Managing Director & CEO)
    Phone: +61-3-5331-4644
    Email: info@whiterockminerals.com.au
    Website: www.whiterockminerals.com.au

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    Sayona Mining Limited (ASX:SYA) (OTCMKTS:DMNXF) ("Sayona" or the "Company") is pleased to announce the assay results of selective grab samples taken at the Tansim lithium project in Quebec, Canada.

    Highlights:

    - High-grade lithium returned in selective sampling, including 2.47 % Li2O at Viau Dallaire and 4.5 % Li2O at Viau, coincident with exposed pegmatite zones with large spodumene crystals. Assays indicate very low level of iron

    - Pegmatites within the 9 km east-west magnetic corridor include historical channel sampling intersections up to 18.95 metres @ 0.94% Li2O at Viau Dallaire, and selective rock chips of between 2.04% and 2.87% Li2O

    - Drilling targets defined at Viau- Dallaire and Viau and permits will be submitted shortly

    Tansim is situated 82 kilometres south-west of the Authier lithium project in Quebec. The project comprises 65 mineral claims of 12,000 hectares, and is prospective for lithium, tantalum, and beryllium. Historical exploration on the property has included mapping, sampling, geophysics and preparation of a Canadian NI43-101.

    Reconnaissance selective sampling was performed at Viau-Dallaire, Viau and Gauthier prospects with a total of 21 samples taken (see Table 1 in link below) over exposed pegmatites. Grab samples were taken mostly in areas with visible spodumene. Assay result highlights include:

    - Viau-Dallaire: 14 grab selective samples ranging from 0.96 % Li2O to 2.47 % Li2O (see Figure 1 in link below);

    - Viau: 4 grab selective samples ranging from 0.22 % Li2O to 4.5 % Li2O (see Figure 2 in link below); and

    - Gauthier: 3 grab selective samples that did not returned significant Li2O% grade.

    In all the cases high-grade lithium results were associated with albite-spodumene pegmatite with coarse grain spodumene crystals (up to 30 cm length).

    Encouragingly, the assays reported are very low in iron content averaging 0.63 % Fe.

    Dan O'Neill, Managing Director, commented "The Company is happy to confirm the potential to find wide zones of high grade lithium mineralisation at Viau Dallaire and Viau prospects. An initial drilling program is being planned for both prospects when access is established and the First Nations consultation is completed."

    Drill Planning at Tansim

    The priority focus of the exploration program is to define drilling targets at the following priority prospects (see Figure 1 and 2 in link below):

    - Viau Dallaire - a 300 metre long dyke, dipping 40 degrees north, and 12 to 20 metres in thickness. Three channel samples include 10.3 metres @ 1.40% Li2O, 11.15 metres @ 0.84% Li2O & 18.95 metres @ 0.94% Li2O (including 7.3 metres at 1.77% Li2O); and

    - Viau - pegmatites have been mapped up to 200 metres long and 30 metres wide. Two separate channel samples returned grades of up to 2.77% Li2O and 1.37% Li2O over 3.2 metres, respectively.

    A recent airborne geophysics survey confirmed a strong east-west magnetic anomaly coincident with historical surface mapping of pegmatites over an area 9 kilometres long and up to 700 metres wide. The host intermediate/mafic magnetic rocks confirmed through the survey have been intruded by discrete outcrops of sub-parallel lithium, beryllium, and tantalum-bearing, granitic pegmatite dykes. The conjunction of east-west trending pegmatite dykes dipping to the north and hosted by metamorphic ultramafic and schist rocks is a similar geological setting observed at Authier.

    Mapping and sampling programs are planned to define the geometry of the pegmatites for future drilling. Exploration is being closely coordinated with the local First Nations group, Long Point First Nation, who will provide support services for the future work programs.

    To view tables and figures, please visit:
    http://abnnewswire.net/lnk/73HJAAJ1

    Dan O Neill
    Managing Director
    Phone: +61-7-3369-7058
    Email: info@sayonamining.com.au
    www.sayonamining.com.au

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    Canadian-focused lithium explorer and developer, Ardiden Limited ("ADV" or "the Company") (ASX:ADV), is pleased to announce further drilling success at its highly-prospective North Aubry prospect. The first seven diamond drill-holes are now complete (drill holes ASD001 to ASD007), with all seven intersecting multiple pegmatites at various depths. The North Aubry prospect is located within the Company's 100% owned flagship Seymour Lake Lithium Project in Ontario, Canada.

    HIGHLIGHTS:

    - Commencement of the Resource expansion drilling program at the North Aubry prospect, with holes ASD001 to ASD007 completed - all seven drill holes intersect multiple spodumene-bearing pegmatites.

    - Completed drill holes show mineralisation consistency at various depths at North Aubry.

    - Historic and recently generated data confirm potential to define a significantly larger Mineral Resource at North Aubry than previously indicated.

    - Holes ASD001 to ASD007 represent only one-third of the planned 3000m Resource expansion drill program at North Aubry.

    - Assays from holes ASD001 to ASD007 are expected to be available for release to the market over the coming weeks.

    The current Resource expansion drill program (see Figure 1 in link below for drill-hole locations) has been designed to test and evaluate the interpreted continuation of the North Aubry pegmatites under cover, both along-strike and down-dip (see Figure 2 in link below). The primary aim of the 3000m program is to identify additional lithium mineralisation, to increase the Mineral Resource (to be defined) at the North Aubry prospect.

    Commenting on the early drilling success at North Aubry, Ardiden CEO and Executive Director, Brad Boyle stated "These latest drill results confirm substantial extensions and consistency in the mineralised zones around the North Aubry prospect, including the identification to the North of a new overlying spodumene bearing pegmatite dykes. This early success reinforces our strong belief in the potential of Ardiden's landholdings to add significant tonnage to the already defined high-quality resource at North Aubry."

    The intersection of multiple pegmatites at various depths by each drill-hole (refer to Figure 2 and Table 1 below) (see link below) confirms that the North Aubry prospect contains a series of "stacked" spodumene-bearing pegmatites within a zone extending towards the North East.

    Of particular significance is the identification of new spodumene-bearing pegmatite dykes, intersected to-date by holes ASD004 - ASD007 overlying the main North Aubry pegmatite dyke. The possible presence of these dykes was indicated by the GPR survey completed earlier this year. However, the confirmation of the pegmatite presence validates Ardiden's exploration model, and the Company believes there is potential to discover additional pegmatite dykes further to the North East.

    The pegmatites intersected contain variable amounts of spodumene (refer to Figure 3 in link below), with pale green and grey to white varieties present. The other main minerals present include: quartz; feldspar (both microcline and albite); and muscovite.

    Ardiden confirms that drill holes ASD001 to ASD007 have been logged by the Company's geological team. Drill core samples are currently being analysed at AGAT Laboratories in Thunder Bay. Assay results are anticipated shortly, and Ardiden will keep shareholders updated on all material developments.

    To view tables and figures, please visit:
    http://abnnewswire.net/lnk/3K9PUKXU

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

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    Kingston Resources Limited (ASX:KSN) (Kingston or the Company) is pleased to report final assay results from the recently completed air-core drilling at the 75% owned Livingstone Gold Project in Western Australia.

    Highlights

    - Final assays from drill program confirm broad gold zones at Livingstone. Intersections include:

    o 5m @ 6.56g/t Au from 49m in KLAC008

    o 3m @ 5.82g/t Au from 8m in KLAC006

    o 5m @ 2.73g/t au from 13m in KLAC030

    - Two mineralised structures identified at Kingsley - 2km long and open along strike

    - New RC and air-core drill program to commence in September across broader project area

    The Kingsley Prospect is 2 km long and currently has 900m of defined mineralisation (see Figure 1 in link below), the prospect is open along strike to the west. Intersections such as 5m @ 6.56g/t Au including 1m at 21.8 g/t Au (KLAC008) and 3m @ 5.82g/t Au (KLAC006) highlight the potential of this structure, with the current broad-spaced drilling suggesting it sits parallel to and south of the western-most line of old workings previously known as Mt Seabrook 1 & 2. The significance of parallel lodes is that they have not been previously identified or developed by the old workings nearby.

    Hole KLAC030 (5m @ 2.73g/t Au, including 2m @ 5.27g/t Au) drilled mid-way between the two groups of old workings suggests there may be potential for additional mineralisation linking the groups of shafts together. The two zones of mineralisation now span over 2km of known strike and are open to the east and west. The interpreted trends of mineralisation at Kingsley are shown in Figure 2 (see link below).

    The final assay results also confirm mineralisation on several holes at the Dampier, Drake and Stanley prospects. Initial results at these prospects are encouraging and the Company will continue work to determine the size and scale of each prospect.

    Kingston Resources Limited Managing Director, Andrew Corbett said:

    "The assay results from the drill program at Livingstone are encouraging as the project continues to provide the Company with highly prospective areas of mineralisation.

    Assays from the Livingstone's Find area continue to show significant grade, thickness and continuity. Gold mineralisation occurs at multiple prospects within the area. Further drilling will commence in September.

    Livingstone is proving to be a valuable asset with real upside potential. The Board and management also look forward to updating shareholders on results from drilling at our flagship Misima Gold Project and the commencement of additional drilling at Livingstone in the coming weeks."

    To view tables and figures, please visit:
    http://abnnewswire.net/lnk/DHK0Q3N1

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

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    Intermin Resources Limited (ASX:IRC) ("Intermin" or the "Company") is pleased to announce reverse circulation ("RC") drilling results from the 100% owned Anthill gold project located 54km northwest of Kalgoorlie-Boulder in Western Australia. The project comprises granted Mining Lease M16/531 over Greenstone rocks situated within the highly prospective Zuleika Shear Zone, which hosts numerous high-grade gold deposits (see Figure 1 & 2 in link below).

    HIGHLIGHTS

    - Resource extension drilling commenced in June 2018 at the 100% owned Anthill gold project on the Zuleika Shear, 45km north-west of Kalgoorlie - Boulder in the Western Australian goldfields

    - Current Mineral Resource (JORC 2012) stands at 1.42Mt @ 1.72g/t Au for 78,000oz Au at a 1 g/t cut off grade(see Note 1 below)

    - Over 10,000m of RC drilling to a maximum depth of 200m now completed at Anthill as part of the self-funded 55,000m 2018 program

    - Initial results received with significant mineralisation intercepted including(see Note 2 below):

    o 81m @ 1.48g/t Au from 119m including 2m @ 11.90g/t Au from 132m and 15m @ 2.24g/t Au from 139m (AHRC18017)

    o 26m @ 2.96g/t Au from 174m including 1m @ 17.9g/t Au from 194m (AHRC18018)

    o 4m @ 15.5g/t Au from 56m (AHRC18057)(see Note 3 below)

    o 15m @ 1.79g/t Au from 48m and 4m @ 1.91g/t Au from 80m (AHRC18004)

    o 16m @ 1.32g/t Au and 24m @ 1.28g/t Au 56m (AHRC18069) (see Note 3 below)

    o 20m @ 1.35g/t Au from 28m (AHRC18036) (see Note 3 below)

    o 4m @ 7.65g/t Au from 52m (AHRC18068) (see Note 3 below)

    o 3m @ 2.30g/t Au from 37m, 2m @ 2.79g/t Au from 48m, 20m @ 1.62g/t Au from 57m and 10m @ 1.27g/t Au from 81m (AHRC18002)

    o 4m @ 1.36g/t Au from surface, 1m @ 2.23g/t Au from 43m, 1m @ 6.07g/t Au from 121m, 2m @ 7.08g/t Au from 130m and 10m @ 1.11g/t Au from 143m (AHRC18001)

    - Initial drilling focussed on extending mineralisation beyond the current resource envelope to the north and south for open pit mine development studies

    - Strike length at Anthill increased from 150m to over 350m and remains open in all directions

    - A 4,000m follow up program and 1,000m regional new discovery program has now commenced with further results expected in the current September Quarter

    - An updated Mineral Resource for Anthill is expected in the December Quarter

    Commenting on the results of the Anthill program, Intermin Managing Director Mr Jon Price said:

    "These initial results from Anthill are now clearly demonstrating the potential scale and quality of the orebody that continues to grow with each drilling campaign and certainly justifies our belief that the Zuleika shear can deliver new large scale open cut and underground gold deposits."

    "The Company will continue aggressive extension and new discovery drilling at Anthill and looks forward to releasing an updated resource and continuing mine development studies."

    Overview

    In February 2018, Intermin commenced a self-funded $4M, 55,000m drilling program across its 100% owned Kalgoorlie gold projects. The major drill program is focussed on new discoveries and resource extensions at the key Teal, Anthill, Binduli and Blister Dam gold projects.

    Drilling at Anthill commenced in the June Quarter with 70 angled RC holes for approximately 10,000m now completed to an average depth of 140m and maximum depth of 200m. The drilling focussed initially on resource extensions to the north and south of the current resource envelope which contains a JORC 2012 Mineral Resource Estimate of 1.42Mt @ 1.72g/t Au for 78,000oz Au at a 1 g/t cut off grade(see Note 4 below).

    The geology at Anthill is dominated by a variolitic basalt with lesser amounts of porphyry and ultramafic rocks observed. At least two mineralised trends are evident and add to the geological complexity at Anthill. The sequence sits within a synclinal structure. The gold mineralisation is pervasive and occurs in a number of settings, the most important being a quartz stock work or thin veins with carbonate-sericite-silica-sulphide alteration. Some of the gold is coarse and is easily visible in panned RC chips.

    New high grade, mineralisation outside of the current resource envelope has now been discovered and is aligned with the dominant NW "Zuleika Shear" stratigraphy confirming drilling orientation and increasing strike length to the north and south by over 200m. Mineralisation remains open in all directions (see Figure 3 in link below).

    To the north AHRC18001 (best result 2m @ 7.08g/t Au and 10m @ 1.11 g/t Au), AHRC18002 (best result 20m @ 1.62g/t Au and 10m @ 1.27g/t Au) and AHRC18004 (best result 15m @ 1.79g/t Au) all intersected significant mineralisation where historic holes were drilled at opposite angles or were drilled too shallow(see Note 5 below).

    To the south, AHRC18068 (4m @ 7.65g/t Au), AHRC18057 (best result 4m @ 15.5g/t Au) and AHRC18069 (best result 16m @ 1.32g/t Au and 24m @ 1.28g/t Au) cover an additional 150m strike length(see Note 5 below). There is no drilling to the south of these intercepts and further step out drilling has commenced.

    AHRC18017 (81m @ 1.48g/t Au) and AHRC18018 (best result 26m @ 2.96g/t Au) (see Note 5 below) were step out holes in the central core area of Anthill where high grade ore is consistently found to about 200m depth. The impressive 81m width on AHRC1801 is found within a deep zone of stockwork ore. Low grade mineralisation was noted on the adjacent sections (at >200m depth) which suggests that this stockwork emplacement is also possibly controlled by a SW/NE structure.

    Cross sections (4 x 20m) in this area are shown in figures 4-7(see link below). They show a series of stacked lodes variably dipping to the north east.

    Another step out hole AHRC18010 has been drilled directly behind AHRC18018 with results expected in the current September Quarter.

    To the west of Anthill, several holes discovered up-dip mineralisation from one of the deeper (stacked) low grade lodes as defined by mostly historic drilling. AHRC18019 (best result 12m @ 1.17 g/t Au) and AHRC18023 (best result 5m @ 4.55 g/t Au and 9m @ 1.08 g/t Au)(see Note 5 below). Further drilling to the west is planned.

    Next Steps

    Given the excellent results from the initial drilling, Intermin plans to complete a further 4,000m of resource extension drilling with the aim of extending the strike length further to grow the mineralised envelope ahead of a resource update and open pit optimisation studies.

    In addition, over 1,000m of drilling has commenced on high priority new discovery targets including Fire Ant (see Figure 2 in link below) testing for repeat structures along the Zuleika shear zone.

    Further assay results are expected in the current September Quarter, an updated Mineral Resource estimate in the December Quarter and a development scoping study in the March Quarter 2019.

    Notes:

    1 as announced to the ASX on 13 March 2018,

    2 see Table 1 on Page 8, Competent Persons Statements on Page 11, Forward Looking Statement on Page 12 and JORC Tables on Page 13

    3 denotes 4m composites only with 1m split assays yet to be received

    4 as announced to the ASX on 10 July 2018,

    5 see Table 1 on Page 5, Competent Persons Statements on Page 7, Forward Looking Statement on Page 9 and JORC Tables on Page 10

    To view tables and figures, please visit:
    http://abnnewswire.net/lnk/IZWCV8M7

    Jon Price 
    Managing Director
    Tel: +61-8-9386-9534
    E: jon.price@intermin.com.au
    
    Michael Vaughan
    Media Relations - Fivemark Partners
    Tel: +61-422-602-720
    E: michael.vaughan@fivemark.com.au

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    Argentine-focused lithium exploration / development company Lake Resources NL (ASX:LKE) is pleased to announce that recent passive seismic geophysics show a likely extension of high-grade lithium brine sequences from adjoining world-class lithium resources into Lake's 100%-owned Cauchari Lithium Brine Project (see Figure 1 in link below).

    - Recent seismic lines show a likely extension of the high grade lithium brine sequence from adjoining world-class lithium resources into Lake's Cauchari Lithium Project (see area in green - Figure 2) (see link below).

    - Brines are estimated to extend to 300-400 metres deep on Lake's leases, adjacent to third party drill results on the adjoining project which included 600mg/L lithium and high flow rates (*2).

    - LKE has a drilling rig secured to demonstrate that similar lithium brine aquifers are present in Lake's Cauchari leases.

    - Brine aquifers considered an extension of permeable gravels and sands intersected in the adjoining project.

    Brines in adjacent properties are high grade (see Figure 1,2 in link below). The adjacent third party drill results on the adjoining project include 600mg/L lithium with high flow rates and 470mg/L close to the lease boundary (*2). Lake expects these high grade lithium brines to extend into its leases and brine bearing sediments are estimated to extend to 300-400 metres deep, based on the interpretation of the seismic line (see figure 2 in link below) completed by Lake.

    Lake will shortly commence drilling now that a drilling rig has been secured and barring any unforeseen delays, drilling is targeted to commence at the end of next month.

    Lake's Cauchari Lithium Brine Project adjoins the world-class Cauchari lithium brine projects of SQM/Lithium Americas (soon to be Gangfeng/Lithium Americas), with an indicated resource of 8.7 Mt lithium carbonate equivalent (LCE) and an additional measured resource of 3 Mt LCE and the Cauchari resource of Orocobre/Advantage Lithium with an inferred resource of 3.0 Mt LCE (*1), in the process of being upgraded to measured and indicated classification. Lake originally secured the 18,000 hectare Olaroz-Cauchari leases in early 2016 and is the only ASX junior exploration company with a large lease portfolio in this world class lithium brine province.

    Lake will commence drilling at its Cauchari West project (see Figures 1,2 in link below) with drill locations on the margins of SQM/Lithium Americas project and Orocobre/Advantage Lithium's project.

    Managing Director Steve Promnitz said: "Lake's Cauchari leases show an extension from the adjoining world-class lithium brine project - where Gangfeng Lithium has just increased its ownership in a major $237 million transaction - acquiring SQM's stake in the project, aimed for production in two years.

    High grade lithium brine results are reported in holes drilled between 350m - 450m from our lease boundary and our geophysics shows its likely to extend into our leases. This is great news just before the drilling starts."

    Footnotes:

    (*1): The Cauchari project resource estimates of lithium carbonate equivalent (LCE) are from SQM/Lithium Americas (11.8 Mt LCE) and Orocobre/Advantage Lithium (3.0 Mt LCE). Lithium Americas Corp (LAC:TSX) updated their Cauchari indicated resource estimate of 8.7 Mt of Lithium Carbonate Equivalent (LCE) at an average grade of 570 mg/L lithium with an additional measured resource of 3 Mt LCE at 630 mg/L lithium in a release dated 18 June 2012 and 24 July 2012 prepared by their Qualified Persons Mark King, Roger Kelley and Daron Abbey, as defined in the NI 43-101 technical report. Orocobre/Advantage Lithium announced their updated Cauchari inferred resource estimate of 3 Mt of Lithium Carbonate Equivalent (LCE) at an average grade of 450 mg/L lithium, dated 29 June 2018 on the TSX (AAL:TSX-V) and dated 2 July 2018 on the ASX (ASX:ORE), prepared by Mr Frits Reidel, a "Qualified Person" as defined in the NI 43-101 technical report.

    (*2): Drill results released by Orocobre (ASX:ORE) from their market releases on the ASX on 18 April 2018 and 29 June 2018.

    (*3): from Reidel & Ehren, 2018, dated 29 June 2018 on the TSX (AAL:TSX-V) and dated 2 July 2018 on the ASX (ASX:ORE)

    Geophysical Survey

    Figures 2 and 3 (see link below) shows detail of Lake Resources passive seismic survey line A-A'. The seismic geophysical survey was initiated using passive seismic techniques, with the aim of understanding the basin geometry and thickness of the sediments hosting the brine. This method distinguishes lithologies with highly contrasting seismic velocities such as unconsolidated sediments and harder cemented sediments or basement rocks and has been used very successfully on a number of salt lake projects in South America and Australia. The seismic line was run down a provincial road along the eastern side of the Lake leases, as logistically this allowed the easiest access to the area. This line passes out of the Lake leases to the south, with similar conditions likely within the southern part of the Lake leases with 18 stations processed.

    Figure 2 (see link below) also shows key interpreted structures with basin bounding reverse faults within Lake's lease area which provides a sharp contrast in basement profile with this area of the basin, with coarse sediments and brine extending to these faults adjoining the West Fan Unit which has been presented in third party reporting. It is likely that this unit will host permeable brine bearing sediments of significant depth similar to that seen in adjacent properties.

    Lithium grades intercepted in sandy sediments of West Fan Unit from Orocobre and Advantage Lithium announcements of 2017 and 2018 are also shown in Figure 2 (see link below) with high grades indicated in areas of close proximity to Lake's leases. The West Fan Unit has high permeabilities and pumping rates which is encouraging for lithium brine development. Drilling will target the areas within the interpreted West Fan Unit.

    Figure 2 and 3 (see link below) shows Lake Resources passive seismic profile A-A'. The distinct reflectors identified in the survey show low velocity material such as sandy sediments or salt lake sediments to 400 metres that appears to correlate well with the brine bearing sequences exhibited in the adjacent projects of third parties. The passive seismic results fits well with the interpretation of brine bearing sequences of sandy material with significant depths suggested above. Addition seismic lines are planned to identify the deepest sedimentary centres within the structurally complex margin of the basin on Lake's leases.

    Other Substantive Exploration Data

    Figures 2 and 3 (see link below) also shows an interpreted cross section adjacent to Lake's lease boundary (*3). The interpreted cross section shows the sand unit (West Fan Unit) which is inferred to extend into Lake's leases from the adjoining Orocobre / Advantage Lithium resource and SQM / Lithium Americas resource. Lake's drilling will target areas with interpreted thicker unconsolidated sediments within the West Fan Unit.

    To view figures, please visit:
    http://abnnewswire.net/lnk/AI71LV12

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

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    Collaborate Corporation Limited (ASX:CL8) (Collaborate or the Company) is pleased to welcome Ms Michelle Vanzella to the Board of Collaborate, effective from 1 September 2018.

    Michelle has an extensive combination of customer, marketing, digital, commercial and legal skills built up across multiple industries including technology, retail, property and financial services. Michelle practiced corporate and commercial law at Allens and has held senior executive marketing and business development positions with iconic Australian brands including Westfield, Suncorp and AAMI. She is currently a non-executive Director of Hunter Water and a member of the Capital Works and Science, Environment & Human Health committees.

    Michelle brings to the Board expertise in strategic growth and innovation, customer strategy and analytics, consumer marketing and the application of emerging technologies to business growth at an ideal time for Collaborate as it leverages strategic partnerships and a unique business model to accelerate growth.

    The Company also announces that Mr Joshua (Jim) Landau is stepping down as nonexecutive director of Collaborate, effective from 1 September 2018. Mr Landau was appointed as an alternate director in October 2015 and transitioned to the role of nonexecutive director in May 2016.

    "It is with great pleasure that I welcome Michelle to the Board of Collaborate. I look forward to working with Michelle to harness her extensive marketing and business growth skills to assist Collaborate achieve its significant growth potential. It has been a great pleasure working with Jim Landau on the Board of Collaborate and, on behalf of my fellow directors, I thank him for the guidance and significant contribution that he has provided to the Company", said Mr Chris Noone, CEO of Collaborate.

    Collaborate Corporation Limited
    Tel: +61-2-8889-3641
    E: shareholder@collaboratecorp.com 
    W: www.collaboratecorp.com

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    Central Petroleum Limited (ASX:CTP) ("Company" or "Central"), as Operator and 100% owner of Palm Valley Gas Field, announces that the Palm Valley 13 ("PV13") well spudded today at 4pm AEST.

    Ensign Australia Pty Ltd is drilling the well using its Ensign 932 Drilling Rig.

    The well aims to access the known gas in the Pacoota P1 sandstone, by intersecting the P1 target at a high angle to increase the chances of connecting to naturally occurring fractures.

    The PV13 program anticipates a 46 day drilling timeline to reach a total depth of 3,476 metres MD (measure depth) with a vertical depth of 2,102 metres TVD (true vertical depth) and a near horizontal (84.9 Degrees) reservoir section of up to 1,040 metres MD.

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

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    Alligator Energy Limited (ASX:AGE) (Alligator or the Company) is pleased to advise that it is on track with the commencement of its upcoming drilling program for its advanced uranium prospect TCC4 in the Alligator Rivers Uranium Province (ARUP). The TCC4 prospect represents the most advanced undercover uranium potential in AGE's tenements, with identification of underlying Cahill Formation geology (underlies both the Ranger and Jabiluka deposits), along with overlapping SAM geophysics and geochemical sampling indicators.

    Highlights

    - Alligator preparations for its inaugural drilling program on its most advanced uranium prospect at TCC4 in the Alligator River Uranium Province (ARUP) are well advanced;

    - TCC4 represents an outstanding untested uranium target with a large strong coherent pathfinder anomaly, significant SAM geophysical anomaly indicative of alteration, and favourable stratigraphy of the Cahill Formation unconformably concealed by the sandstone sequence;

    - Drilling contractor mobilising to site late this week with drilling commencing before end of month on ~3,000 metre program;

    - All stakeholder approvals have been received, and Alligator's Myra Camp and main access tracks have been opened, and drill pad construction is underway;

    - Exploration team established, including local indigenous employees;

    - Funds for drilling approved by shareholders at EGM held on 16th August.

    At an EGM of shareholders on Thursday 16th August, shareholders overwhelmingly approved the placement for $1.75M of shares to institutional and high net worth clients of BW Equities Pty Ltd (refer ASX announcement Thursday 16th August). With the recent increased interest in the uranium market and uranium equities, and the excess demand from the recent Rights Issue, the Board determined it was the right time to re-capitalise the Company to enable drilling of our primary uranium target during this dry season.

    Alligator's Acting CEO Greg Hall commented; "We are pleased our shareholders agreed with our view that this placement opportunity represents immediate value in on-ground drilling work this year on our primary target in the Alligator Rivers Uranium Province. Alligator has advanced the TCC4 prospect to a drill-ready stage, with several years of undercover pathfinder work to determine the most likely locations for mineralisation beneath the sandstone cover."

    "Our exploration team has been on the ground for some weeks opening up the camp and dry season tracks as part of our existing Agreements. This work is now being rapidly extended to drill site preparation, with drill rig mobilisation anticipated shortly."

    Drilling plan for TCC4 Prospect

    Alligator Energy has the second largest exploration tenement holding in the uranium prospective Arnhem Land / Alligator Rivers region. After several years of work, the TCC4 prospect in the ARUP (refer location Figure 1 in link below) contains the most advanced quality uranium target outlined by the Company's proprietary pathfinder and modified SAM undercover exploration techniques (together our exploration IP). The location is adjacent to other uranium occurrences drilled by Alligator and others in previous exploration.

    AGE believes the TCC4 prospect represents the best complete undercover target with close similarities to the major uranium deposits of the Alligator Rivers Uranium province. While uranium prospects occurring at surface may have been eroded over time, those which may exist under the sandstone cover have the best chance of being complete and of economic size.

    A significant track drilling program is required to test the concept, and a 2,400 to 3,000 metre drilling program is planned.

    At a recent exploration planning workshop, Alligator's geologists, consultants and exploration experienced Board members reviewed the full status of work compiled on TCC4 to date and the recommended drilling locations. In particular, Alligator recently completed an up to date reprocessing of the original raw SAM data using the latest data processing techniques. This has re-affirmed the SAM targeting, and clearly showed the less resistive zones indicative of alteration patterns seen from major uranium deposits in the area. The data was reviewed along with the existing geochemical pathfinder results to aid in finalising drill targeting.

    The planned drill program consists of up to 10 holes, varying from 250 to 400 metres deep, within four preferred lines. The exploration team will undertake rapid and ongoing evaluation of geology, lithology and any mineralisation encountered during drilling to enable real-time modification of the program based on results. Drilling will be a combination of RC pre-collars through the main part of the sandstone cover, with diamond cored tails through the target horizons.

    Figure 2 in link below shows the highlighted SAM conductor geophysics, isotope anomaly envelope and the four preferred drill lines.

    Alligator personnel have recently re-opened the company's Myra drilling camp in Arnhem Land and main access tracks. This work is a condition of our local Traditional Owner agreements and was planned to be undertaken. Additional work on track extensions and drill pad preparation is now underway.

    Necessary equipment, fuel and exploration personnel have been engaged and mobilised to site.

    BW Equities Placement

    At an EGM of shareholders on Thursday 16th August, shareholders overwhelmingly approved the placement for $1.75M of shares to institutional and high net worth clients of BW Equities Pty Ltd. With the recent increased interest in the uranium market and uranium equities, and the excess demand from the recent Rights Issue, the Board determined it was the right time to re-capitalise the Company to enable drilling of our primary uranium target during this dry season.

    The placement has been targeted to strategic and institutional clients, and high net worth clients of BW Equities, and other supporters of the company. BW Equities will be paid a 2% management fee, 4% capital raising fee and will be granted 20M AGEO listed options. New shares and options will be issued on Thursday 23rd August.

    To view figures, please visit:
    http://abnnewswire.net/lnk/XX7247EW

    Mr Greg Hall 
    Executive Director and CEO
    Alligator Energy Ltd 
    Email: gh@alligatorenergy.com.au
    
    Mr Mike Meintjes
    Company Secretary
    Alligator Energy Ltd
    Email: mm@alligatorenergy.com.au

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    Australian Potash Limited (ASX:APC) (Company) is pleased to advise the successful transfer of brine from the pre-concentration pond into the first harvest pond at the Lake Wells Sulphate of Potash project pilot evaporation pond network.

    Highlights:

    - Successful Initial Brine Transfer from Pre-Concentration Pond to First Harvest Pond (H1)

    - 110 tonnes of pre-concentrated brine transferred into H1

    - From this evaporation cycle, 22 tonnes of harvested potassium salts will be produced yielding 2 tonnes of SOP

    - APC will produce 250 kilograms of SOP trade samples in an initial production run for delivery to MOU Offtake Partners Q4 2018

    The pilot pond network at Lake Wells comprises 1 large pre-concentration pond and 3 smaller, harvest ponds. The raw, hypersaline brine was pumped into the pre-concentration pond using one of the five (5) already installed production bores at the project.

    As the brine evaporates further through the harvest ponds, various sodium and magnesium salts are crystallised out of it until it becomes highly concentrated with potassium bearing salts. It is anticipated that the final transfer of brine into the final harvest pond will occur within the next 4 - 6 weeks, resulting in the crystallisation of 'feeder' or harvest salts in the harvest ponds. It is from these blended harvest salts that SOP is processed and refined.

    The pilot evaporation pond program is anticipated to produce approximately 22 tonnes of harvest salts, from which an estimated 2 tonnes of SOP can eventually be refined. In the initial production run, approximately 250 kilograms of trade samples of SOP will be produced. The Company's processing consultants, Novopro will manage the production of SOP over the final stages of the process, with that company's lead expert being present in Perth for the duration.

    Managing Director Matt Shackleton commented: "Across the four major work streams we are progressing through the definitive feasibility study, the pilot ponds generate data essential to our understanding of the climatic-evaporation conditions, and the quality and amount of potassium salts we are able to produce. This successful initial transfer of pre-concentrated brine into H1 represents a major step in these areas.

    "Based on modelled average daily evaporation rates, we anticipate the evaporation process will be finished in the next 4 - 6 weeks. As evaporation rates are heavily correlated to daily temperatures, this process will speed up as we head into the hot part of the year.

    "With the expected 250 kilograms of trade samples of SOP we will produce from the initial production run, we will look to continue our engagement with our MOU partners in China. Our aim through Q4 2018 is to move these MOU positions to formal, offtake discussions."

    To view figures, please visit:
    http://abnnewswire.net/lnk/KL5HF979

    Matt Shackleton 
    Managing Director and CEO
    E: m.shackleton@australianpotash.com.au 
    M: +61-438-319-841
    
    Stewart McCallion
    Project Manager
    E: s.mccallion@australianpotash.com.au
    M: +61-439-980-401

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    OtherLevels Holdings Limited (ASX:OLV) ("OtherLevels" or the "Company") today releases its results for the year ended 30 June 2018.

    Key Financial highlights for the period:

    - 56% increase in revenue to $5.25m from $3.37m in FY17.

    - 33% increase in customer receipts to $5.62m (excluding R&D) from $4.2m in FY17.

    - 73% improvement in EBITDA to a loss of ($1.1m) from a loss of ($4.1m) in FY17.

    - 62% improvement in NPAT to ($1.7m) from a loss of ($4.5m) in FY17.

    - 57% improvement in net operating and investing cashflow to ($1.7m) from ($3.9) in FY17.

    - 10% cash expense reduction at $8.1m in FY18 compared to $8.9m in FY17.

    - Positive operational cashflow in Q2 and Q3.

    Operational Achievements and Highlights

    FY18 saw the Company achieve a continued increase in group revenues and cash receipts as well as positive operational cashflow in two quarters.

    Total revenue grew by 56% for the year including a 53% increase in licence revenue, 55% increase in professional services revenue and 87% increase in managed services revenue. EBITDA improved by 73% to a loss of ($1.1m) and the Company expects to achieve positive EBITDA in FY19.

    Revenue from UK and European operations grew 79% and now constitute 66% of total revenue. The Australian business saw 45% growth and now represents 17% of total revenue. The US business remained strong and also contributed 17% of total revenue.

    The Company achieved its focus of maximizing operating cash flow with a disciplined approach to expenditure. The goal of positive operating and investing cashflow was achieved in both Q2 and Q3 of FY18, and the Company's goal is to achieve positive operating cash flow through FY19.

    OtherLevels applied for a Research and Development rebate of $0.768m for the FY18 year, which has been processed and was received in August 2018.

    FY19 Strategy

    The Company continues to focus on the lotteries and wagering sector and sees on-going opportunities within the sector due to the transition from government to outsourced operation of regulated lotteries in Europe and the US. The Company added another national European lottery operator as a client during the period and is confident of securing its first US state-based lottery client in FY19. OtherLevels knowledge and expertise within the sector also contributed to signing the Company's first lottery funded, not for profit client, shortly after year end.

    Consolidation in the UK market creates both challenges and opportunities for Otherlevels due to management turnover and platform consolidation. In turn, this has created a number of emerging and high-growth companies that are well placed to take advantage of OtherLevels technology and services.

    The Company also sees further opportunities driven by loyalty, membership and visitor website conversion within the travel and hospitality sectors. OtherLevels already has one of the world's top 3 hotel operators as a major client, as well one of the world's largest travel operators. Across this sector there is a continuous need to both drive engagement with members and guests, as well as increase the conversion of site visitors into known members.

    In addition, OtherLevels has identified that activating a mid-market strategy will accelerate growth whilst mitigating the reliance on enterprise customers.

    Mid-market clients typically have limited marketing resources, and a high dependence on digital agencies and email marketing. Outsourcing of non-core services is more common, and solutions are often delivered as service packages combining services and technology, again making it easier to buy. This mirrors the company's existing managed service experiences and also accelerates the buying process.

    Intelligent Messaging remains at the core of the OtherLevels platform and remains a strategic initiative for the Company.

    The Company continues to review its partnering strategies. In FY19, OtherLevels will focus on a smaller number of deeper partnerships to ensure early joint client success and create referenceable clients as the basis for a successful partnership. OtherLevels membership of the Salesforce partner program, and the Company's integration with Salesforce is a key element of the partner roadmap, and partnerships that enhance new sales and distribution are being prioritized.

    In summary, during FY19 the Company will maintain a strong focus on achieving positive operational cash flow, and continued cost management discipline, while growing shareholder value.

    To view the Annual Report, please visit:
    http://abnnewswire.net/lnk/46KA9J1V

    Brendan O Kane
    CEO & Managing Director
    E: brendan.okane@otherlevels.com
    
    Andrew Ritter
    Company Secretary
    E: andrew.ritter@otherlevels.com

    0 0

    WiseTech Global Ltd (ASX:WTC) (OTCMKTS:WTCHF) announces FY18 revenue up 44%, EBITDA up 45%, NPAT up 28%.

    Key statutory results FY17 vs FY18

    - Total revenue of $221.6m, up 44%

    - Net profit attributable to equity holders of $40.8m, up 28%

    - Fully franked final dividend of 1.65 cents per share

    ------------------------------------------------------------
    $m                             FY17      FY18    % change 
    ------------------------------------------------------------
    Total revenue                  153.8     221.6    +44% 
    Operating profit               41.5      58.4     +41% 
    Net profit attributable to 
    equity holders                 31.9      40.8     +28% 
    Earnings per share (cents)     10.9      13.9     +28%
    Dividend per share (cents)     1.2       1.65     +38%  
    ------------------------------------------------------------
    

    Key performance indicators FY18 vs FY17

    - Recurring revenue 99% (CargoWise One)

    - Annual attrition rate of
    - EBITDA of $78.0m, up 45%

    - EBITDA margin 35% (48% excluding acquisitions) (see Note 1 below)

    ------------------------------------------------------------
    $m                             FY17     FY18     % change 
    ------------------------------------------------------------
    Total revenue                  153.8    221.6      +44% 
    Gross profit                   131.1    187.3      +43% 
    Total operating expenses       (77.2)   (109.3)    +42% 
    EBITDA                         53.9     78.0       +45%
    EBITDA margin                  35%      35%	   -
    Free cash flow                 34.5     43.5       +26% 
    ------------------------------------------------------------
    

    Strong growth in revenues while expanding global platform

    CEO, Richard White, said "Our global operations continued to deliver high quality growth in FY18 with revenues up 44% to $221.6m and EBITDA up 45% to $78m, while we focused on accelerating the flywheels of our global growth and industry penetration, driven by geographic expansion, relentless innovation and deepening product capability, global data sets, and rapid adoption by the world's largest logistics providers.

    "The power and strength of our CargoWise One global platform is reflected in its 99% recurring revenue and annual customer attrition rate of
    Highlights from execution of strategic growth initiatives

    - We delivered significant revenue growth driven primarily by continued strong organic growth across our global business, the addition of over 550 internally developed product enhancements and features to our CargoWise One technology platform, and the acquisition of 15 strategic assets in new geographies and adjacent technologies from which we will accelerate our future growth.

    - Continued strong organic revenue growth with revenues from existing and new customers up $44.6m - importantly every CargoWise One customer cohort as measured in the last ten years grew revenue in FY18.

    - Overall, 24 of the top 25 Global Freight Forwarders (see Note 2 below) are customers as are 34 of the top 50 global 3PLs (see Note 3 below) yet global penetration still in the early stage with significant runway for years to come

    - We have progressed product development in China, Italy, Germany and Brazil, and across our global adjacencies. Throughout FY18 and to August 2018, we announced 22 valuable geographic and adjacent acquisitions across Australasia, Asia, Europe and the Americas.

    - We have also invested resources into machine learning, natural language processing, process automation and guided decision support, driven by vast volumes of transactional and border agency data sets to enable enhanced compliance, due diligence, risk assessment and risk mitigation.

    Delivery on our growth strategy

    The key strategic developments in the year were:

    Expansion of our global platform

    We invested $76.4m and 51% of our people in product development, further expanding our pipeline of commercialisable innovations and delivering hundreds of product upgrades seamlessly across the CargoWise One global platform. We are accelerating our development capability within our development teams across 20 countries.

    The hundreds of upgrades include initiatives such as:

    - launch of BorderWise in Dec 2017 with regional rollout to Australia, New Zealand and the United States of our comprehensive border compliance engine and subsequent rollout across Europe, Mexico and Singapore to come;

    - expanded and embedded global tracking across the platform covering vessels and containers for 90% of ocean volumes;

    - WiseRates, additional functionality in rates automation and bookings;

    - launch of PAVE, a technology layer applied across our CargoWise One workflow engine;

    - completion of native China customs and localised CargoWise One platform (including sales, content, education and certification materials); and

    - regulatory upgrades for a myriad of government changes including US Automated Commercial Environment, Canada-EU Free Trade, Malaysian uCustoms, Australian GST, China golden tax regime and German ATLAS release.

    A sample of larger pipeline components include:

    - international e-commerce integrated fulfilment solution for high volume, low value e-commerce shipments from origin to door, currently in pilot test with development partner;

    - comprehensive port integration for bookings, manifests, status terminal releases, container load plans and VGM to terminals, carriers, customs and agents;

    - Universal Customs Engine designed to deliver complex, multi-year localisations in a fraction of time and cost;

    - advancements in architecture engine, GLOW, which allows rapid product development across multiple operating systems on any device, by non-technical staff;

    - global air cargo tracking, including air waybill tracking, events and automations allowing exception-based logistics transaction execution; and

    - integration of acquired adjacencies and our innovation developments to build out the cargo chain ecosystem for rates, schedules and bookings.

    We have also invested resources into machine learning, natural language processing, process automation and guided decision support, driven by vast volumes of transactional and border agency data sets to enable enhanced compliance, due diligence, risk assessment and risk mitigation.

    Greater usage by existing customers

    We experienced continuing existing customer revenue growth of $32.1m which delivered 72% of the FY18 organic revenue growth. This growth was generated by:

    - our large customer base increasing their use of the CargoWise One platform, adding transactions, users and geographies, and moving into more modules;

    - increasing usage by many of the world's largest freight forwarding groups. We have 24 of the top 25 global freight forwarders as customers and 7 of the top 25 who are on, or have completed, global forwarding rollout, including DSV, DHL and Yusen. The DHL Global Forwarding rollout commenced in FY17 is making significant progress across EMEA and Asia;

    - continued transition of customer licensing (excluding acquisitions), with 99% of CargoWise One revenues generated from On-Demand licensing, an access-as-needed, monthly payment based on usage licence and select customers moving off static transition pricing arrangements to standard transaction-based licence arrangements; and

    - further growth in revenue from larger multi-region customers - 34 of the top 50 global 3PLs are now customers, yet, our top 10 customers contribute only 29% of revenue (FY17: 27%).

    Increasing the number of new customers on the platform

    Revenue growth from new customers rose $12.5m in FY18. New customer wins in FY18 progressed with larger 3PL customers, including Kuehne + Nagel, Expolanka Intl, "K" Line Logistics and Logwin, which are expected to roll out over the coming years. As we increase our global penetration, we also continue to sign new customer deals with customers where we have a pre-existing relationship in another region so those new customers add to our existing customers' revenue. Regardless, we are still in early penetration of both new and existing customers.

    Stimulated network effects

    We harness important natural network effects that exist because of the necessarily collaborative nature of supply chain execution and the inherent effect of our deeply integrated global platform. We further stimulate these effects with targeted partner programs through WiseBusiness, WiseService and WiseTechnical partners, the WisePartner Referral Program, Certified Professional and deeper WiseIndustry programs for freight forwarding network groups globally. We currently have ~230 external WisePartner organisations across the world, actively referring, promoting or implementing our platform.

    In addition, each new geography and adjacency we acquire adds a valuable point on our strategic map, accelerates the network effects and makes CargoWise One even more compelling to local and global logistics providers and their customers. In FY18, we leveraged our acquired business relationships with key global customers and explored connections between the adjacent acquisitions, CargoWise One and geographic footholds. We also implemented development partnerships with large regional and global rollout customers on pilot technology developments which will drive network effects across the customer base.

    Accelerating organic growth through acquisitions

    In expanding geographically, we buy into market positions that would take years to build, and we then integrate the acquired industry and developer talent and customers over time to accelerate our organic growth. We further utilise acquisitions in key adjacent technology to facilitate our development of globally scalable innovations, to fuel the convergence of technologies that add to our next generation of automations and machine learning and to grow and enhance our extensive global data and transaction sets.

    In FY18, we have progressed product development in China, Italy, Germany, Brazil, Ireland and Australasia, and across our global adjacencies including global rates management, border compliance and land transport. In addition, we announced a further 22 valuable geographic and adjacent acquisitions across Brazil, Taiwan, Australia, North America, the Netherlands, Ireland, France, Belgium, Latin America and Turkey.

    Throughout FY18 and to August 2018, our acquisitions for geographic expansion included:

    - on 1 August 2017, we completed the acquisition of Bysoft, the largest provider of customs and logistics compliance solutions to the logistics industry across Brazil, the largest economy in South America;

    - on 31 August 2017, we completed the acquisition of the Prolink business, a leading provider of customs and forwarding solutions across Taiwan and China which gives us additional regional strength to accelerate our growth throughout Asia;

    - on 31 January 2018, we completed the acquisitions of two European customs solutions providers, both headquartered in Dublin: ABM Data Systems, a leading pan-European developer and provider of customs clearance solutions and CustomsMatters, a leading Irish provider of customs solutions;

    - on 28 February 2018, we completed the acquisition of Intris, the leading Belgian provider of freight forwarding, customs and warehousing management solutions;

    - on 31 March 2018, we completed the acquisition of LSP Solutions, a leading provider of customs and warehouse management solutions in the Netherlands, Europe's largest port and critical transport hub;

    - on 1 May 2018, we completed the acquisitions of two leading Latin American freight forwarding and logistics solutions providers, Forward and Softcargo, who together provide freight forwarding solutions to 16 countries across Latin America;

    - on 1 May 2018, we completed the acquisition of EasyLog, a leading customs solutions provider in France, the second largest importer and exporter country in Europe;

    - on 2 July 2018, we completed the acquisition of Ulukom, a leading logistics and customs solutions provider in Turkey ? one of Europe's largest trading partners bridging Europe, the Middle East and Asia;

    - on 2 July 2018, we completed the acquisition of Fenix Data Systems, a Canadian customs management solutions provider with specialised focus on cross-border road and rail movements;

    - in August 2018, we committed to bring Multi Consult (the leading provider of customs solutions in Italy, along with their expert solutions for freight forwarding, local TMS and WMS) into the WiseTech Group; and

    - on 9 August 2018, we announced the acquisition of Taric, a leading provider of customs management solutions in Spain who will accelerate the European development of our global BorderWise solution and extend customs and compliance capabilities for our recent acquisitions of freight forwarding solution providers across Latin America.

    Throughout FY18 and to August 2018 our acquisitions for adjacencies and technologies convergent with our innovation pipeline included:

    - on 9 August 2017, we acquired the Digerati business, a leading provider of tariff research and compliance tools utilised by the Australasian customs broking community and on 26 July 2017, we acquired reference data provider, TradeFox, both of which we utilised to enhance our cross-border compliance engine, BorderWise;

    - on 31 August 2017, we completed the acquisition of CMS Transport Systems, a leading Australasian provider of road transport and logistics management systems. This acquisition allows us to further accelerate our local developments in land transport and integrated telematics;

    - on 12 September 2017, we completed the acquisition of Netherlands-based Cargoguide, a leading provider of global air freight rate management solutions and on 29 September 2017, we completed the acquisition of US-based CargoSphere, a leading provider of global ocean freight rate management solutions. These global rate management solutions enable freight forwarders to save millions of hours annually and optimise margins by accessing, organising and systematising rates, contracts and quotes;

    - on 1 February 2018, we completed the acquisition of Gartner-rated Microlistics, a leading provider of specialist warehouse management solutions for enterprise, express, third-party logistics and cold storage across Asia Pacific and North America;

    - on 2 July 2018, we completed the acquisition of SaaS Transportation, a specialist Less Than Truckload ("LTL") transport management solutions provider in the United States with US LTL road rate capabilities which will expand our road booking and road rates offering;

    - on 2 July 2018, we completed the acquisition of Pierbridge, a leading parcel transportation management solutions ("TMS") provider, whose enterprise-class, multi-carrier, parcel shipping solution, allows freight forwarders, warehouses and shippers, such as online retailers, to more efficiently manage high volumes of parcel shipments, and will enable our customers to ship with US-based global couriers; and

    - on 16 August 2018, we announced the acquisition of Trinium Technologies, a leading intermodal trucking TMS and container tracking provider in the United States and Canada.

    These acquisitions are at various stages of completion and integration and, once fully embedded over the coming years, they will expand the functionality, scope and value of our industry-leading technology and provide a strong base for further accelerating our long-term organic growth.

    Accordingly, we will continue to execute on our considerable pipeline of near-term, mid-term and long-term acquisition opportunities in our target areas of Asia, Europe and North America.

    Dividend

    We declared a final dividend of 1.65 cents per share, payable on 8 October 2018. This is in line with our policy - a payout ratio of up to 20% of annual statutory NPAT. The dividend will be fully franked and the record date is 12 September 2018.

    Outlook

    WiseTech Global Founder and CEO, Richard White, said "In FY19 we will continue to execute our five levers of growth. We will continue relentless innovation and maximize the opportunities available to us from building out our global platform. We will continue to acquire leading market positions in key geographic markets for the world's manufactured trade flows and valuable adjacencies to add to our innovation pipeline that can be grown to a global scale. As we expand geographically, we have also been widening our reach into and across the supply chain. Moving out from our stronghold of international logistics and complex cross border compliance to leverage our innovation pipeline and put in place the key technologies and assets to start building unassailable ecosystems. And we will accelerate the growth from the network effect of our new geographic markets and dozens of new technology adjacencies with our integrated global CargoWise One platform across 130 countries, significant multi-year innovation pipeline and thousands of customers worldwide."

    "We are expanding into more products, more geographies and more adjacencies driving our long-term growth with each innovation and acquisition. Our advances in product development and expanded global footprint, ensure we are exceptionally well-placed to meet the needs of logistics providers. With over half our global workforce across 20 development centres focused on innovation in complex cross border logistics and decades of expertise in solving the perennial pain points of industry, we have the competence, capability and capacity to build the ecosystems for the world's supply chains and we are moving ever closer to achieving our goal"

    Guidance for FY19 revenue and earnings

    Founder and CEO, Richard White, said "The strong momentum and significant organic growth of the Group during FY18, the power of the CargoWise One platform, annual customer attrition rate of less than 1% and continued relentless investment in innovation and expansion across our global business give us confidence to expect, subject to currency movements (see Note 4 below):

    FY19 revenue of $315m - $325m, revenue growth of 42% - 47%,

    EBITDA of $100m - $105m and EBITDA growth of 28% - 35%."

    Investor Presentation - Please refer to the WTC FY18 Results Investor Presentation released today for detailed financial data and analysis.

    Analyst Briefing - The results presentation webcast to discuss WiseTech Global's FY18 financial results will be held at 10.30am (Sydney time) today. The webcast and briefing audio will be available at http://www.abnnewswire.net/lnk/XHIDPWF1

    Notes:

    1 Acquisitions are those businesses acquired since 2012 and not embedded into CargoWise One.

    2 Armstrong & Associates: Top 25 Global Freight Forwarders List, ranked by 2017 logistics gross revenue/turnover and freight forwarding volumes.

    3 Armstrong & Associates: Top 50 Global Third Party Logistics Providers List, ranked by 2017 logistics gross revenue/turnover.

    4 Our revenue is invoiced in a range of currencies, reflecting the global nature of our customer base and as a result is impacted by movements in foreign exchange rates. Our FY19 guidance is based on rates provided within the Investor Briefing Materials released to the ASX on 22 August 2018.

    To view tables and figures, please visit:
    http://abnnewswire.net/lnk/N33MT0RT

    To view FY18 Results investor presentation, please visit:
    http://abnnewswire.net/lnk/QFG9HOFW

    Media
    Piers Shervington
    T: +61-2-8001-2200
    E: piers.shervington@wisetechglobal.com

    0 0

    The Board of Queensland Bauxite Limited (ASX:QBL) (or "the Company") is pleased to present a set of proposed resolutions and explanatory statements, which will see the merger of Medical Cannabis Limited into the Company and the acquisition of MedCan Australia, enabling the Company to have all the licences and facilities currently needed, to progress the Cannabis business and humanitarian goals of the company.

    All the Directors are in favour of all resolutions and believe that upon completion of the re-compliance the Company will achieve being a leader in the world Cannabis market.

    Since entering into the Cannabis market both our shareholder registry and the Company's market capitalisation has increased exponentially. Various significant deals have been directed, propelled and completed by the Company's Directors who have put in a major effort to progress the Medical Cannabis investment.

    The re-compliance process includes an exclusive offer to shareholders to purchase shares at a discounted price to market value, which will be provided to shareholders once the company lodges its prospectus with the ASIC in the coming weeks. The Board believes this offer to be a once only opportunity and hope that as many shareholders as possible participate so that they can benefit from this opportunity that our Company is now offering.

    With prayerful wishes for shareholder wealth to be increased manifold.

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

    0 0

    White Rock Minerals Ltd (ASX:WRM) (White Rock) is pleased to announce that it has secured an additional $1 million in funding to support its exploration activities at its globally significant high-grade zinc VMS Red Mountain Project in Alaska (Red Mountain Project).

    White Rock has entered into an unsecured convertible loan agreement (Convertible Loan) with Sandfire Resources NL (ASX:SFR) (Sandfire) providing for two loans of $500,000 each. As announced on 10 July 2018, White Rock has formed a strategic relationship with Sandfire in relation to the Red Mountain Project.

    Funds from the Convertible Loan are to be used for the exploration and development of the Red Mountain Project.

    MD & CEO Matt Gill said "This funding from Sandfire is further endorsement on the quality and prospectivity of our high-grade zinc and precious metals VMS project in Alaska. With this funding, we have now been able to extend our drilling campaign into September and ramp-up our reconnaissance mapping and geochemical sampling works 3-fold, this work already credited with one massive sulphide discovery - Hunter. This funding will help White Rock continue implementing key exploration and development activities at Red Mountain and sets us up well for next year's campaign".

    Key terms of the Convertible Loan are:

    - Set-off against joint venture: If Sandfire exercises its option to enter into a joint venture agreement (Project Option) in relation to the Red Mountain Project (refer to White Rock's announcement of 10 July 2018 for further details) by 31 December 2018, then the full amount of the loans will be set-off against Sandfire's expenditure commitments under that joint venture agreement.

    - Conversion to shares: If Sandfire fails to exercise its Project Option:

    o Loan A will automatically convert into White Rock ordinary fully paid shares at the conversion price of A$0.012 (1.2 cents) per White Rock share (being approximately 41,666,666 shares); and

    o subject to White Rock obtaining shareholder approval for Listing Rule 7.1 (and for all other purposes), Loan B will automatically convert into White Rock shares at the lower of A$0.012 (1.2 cents) per White Rock share or the 30-day volume weighted average price of White Rock shares calculated at the relevant time.

    - Repayment: If Loan B cannot be converted in entirety or otherwise (for example, if White Rock shareholder approval for the conversion was not obtained), then to the extent it cannot be converted the balance of Loan B must be repaid in cash by 30 November 2019.

    - Interest:

    o Loan A will be interest free.

    o Loan B will be interest free until 28 February 2019, following which it will accrue interest at a rate of 5% per annum calculated daily.

    - Events of default: The Convertible Loan contains customary events of default (including change of control and an insolvency event of White Rock) that result in the conversion of the Loans and the issue of the relevant number of ordinary shares to Sandfire at the corresponding issue price and to the extent White Rock cannot issue shares to Sandfire, any remaining amount owing will be immediately repayable in cash.

    Matthew Gill (Managing Director & CEO)
    Phone: +61-3-5331-4644
    
    Shane Turner (Company Secretary)
    Phone: +61-3-5331-4644
    Email: info@whiterockminerals.com.au
    Website: www.whiterockminerals.com.au

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