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Asia Business News

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    White Rock Minerals Ltd (ASX:WRM) ("White Rock" or the "Company") is pleased to announce that assay results for a further 6 diamond drill holes have been received. Targets tested by these drill holes included extensions to the Dry Creek Deposit (the Discovery lens and the Fosters Gap targets), as well as a series of newly identified targets away from the known deposits at Dry Creek West, Ram and Megan's South. Results for a further 7 diamond drill holes remain outstanding and are expected within the next month(see Note 2 below).

    MD & CEO Matt Gill said "This drilling represents a significant extension to the Dry Creek deposit and notably down dip at both the Fosters and Discovery lenses. The recent results also include the testing of more distant targets identified from our work based on the earlier data and supported by our recent on-ground reconnaissance work, followed by the application of the CSAMT geophysics tool. The results do point to broad VMS mineralisation zones, containing zinc, lead, silver, gold and copper, that warrant follow-up in 2019. The discovery of mineralisation some distance from the known deposits supports our expectation that continuing exploration of The Red Mountain area will confirm a significant VMS camp."

    Highlights from the current assay results include:

    - 4.2m @ 5.9% zinc, 2.5% lead, 96g/t silver, 0.9g/t gold and 0.1% copper for 11.4% ZnEq(see Note 1 below) (DC18-82) from the Discovery lens, Dry Creek deposit.

    - 5.2m @ 2.5% zinc, 0.9% lead, 12g/t silver, 0.1g/t gold and 0.1% copper for 3.7% ZnEq(see Note 1 below) (DC18-84) from the Foster lens, Dry Creek deposit.

    - 5.2m @ 2.0% zinc, 0.9% lead, 39g/t silver, 0.2g/t gold and 0.1% copper for 3.9% ZnEq(see Note 1 below) (DC18-85) from the Foster lens, Dry Creek deposit.

    - 7.6m @ 1.4 zinc, 0.4% lead, 4g/t silver, 0.1g/t gold and 0.1% copper for 2.1% ZnEq(see Note 1 below) (DC18-86) from the Ram prospect.

    The diamond drilling results are part of White Rock's maiden drill campaign at the Red Mountain project, where there are two existing deposits, Dry Creek and West Tundra, which already have a Resource base of 16.7Mt at 8.9% ZnEq(see Note 1 below) including a high-grade component of 9.1Mt @ 12.9% ZnEq(see Note 1 below) (refer ASX announcement 26 April 2017 regarding the maiden Mineral Resource).

    Results for DC18-82 to DC18-87 are summarised in Table 1(see link below).

    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 26 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 15 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.


    1 ZnEq = Zinc equivalent grades are estimated using long-term broker consensus estimates compiled by RFC Ambrian as at 20 March 2017 adjusted for recoveries from historical metallurgical test work and calculated with the formula: ZnEq =100 x [(Zn% x 2,206.7 x 0.9) + (Pb% x 1,922 x 0.75) + (Cu% x 6,274 x 0.70) + (Ag g/t x (19.68/31.1035) x 0.70) + (Au g/t x (1,227/31.1035) x 0.80)] / (2,206.7 x 0.9). White Rock is of the opinion that all elements included in the metal equivalent calculation have reasonable potential to be recovered and sold.

    2 The ASX Release dated 20 September incorrectly stated that assays were awaited for 7 drill holes. This should have said 13 drill holes.

    To view tables and figures, please visit:

    Matthew Gill (Managing Director & CEO)
    Phone: +61-3-5331-4644
    Shane Turner (Company Secretary)
    Phone: +61-3-5331-4644

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    MMJ PhytoTech Ltd (ASX:MMJ) (OTCMKTS:MMJJF) provides the Company's Annual Report to shareholders.

    Chairman's letter

    Dear Shareholders,

    The 2018 financial year was a significant year of transformation for MMJ.

    With MMJ shareholder approval on 28 September 2018, the company will complete its transformation from being an owneroperator of Harvest One and PhytoTech Therapeutics into a Listed Investment Company ("LIC"), owning minority stakes in Harvest One and eight (8) other businesses within an investment portfolio as a global cannabis investment company, with the new name "MMJ Group Holdings Limited".

    The Board made the important decision to change the company into a LIC so that it could directly leverage the skills and capabilities of the Board and management team in the best way possible to optimise risk-adjusted returns over both the short and long term. By holding a number of minority investments in what is a global, emerging and rapidly growing sector, MMJ is now well-placed to respond to, and capitalise on, significant changes as the sector expands then matures and ultimately consolidates through mergers and acquisitions activity.

    Consistent with this renewed focus, the Board recruited a new Chief Executive, Jason Conroy, in February 2018 to lead this change. He has since been very active on the investment front and has expanded our portfolio and network of global cannabis community relationships in a relatively short period of time. In April 2018 he recruited an experienced CFO, Jim Hallam. The Board believes that our new executive team has the focus, skills and desire to drive higher shareholder returns through 2019 and beyond.

    Whilst the Board has been disappointed by MMJ's share price performance through the course of this calendar year, largely reflecting a similar decline in the share price of our largest investment (by value of invested capital), Harvest One, we are very excited by the outlook of the company as all of its investments, most of which were made in the past six months, are well positioned to participate in the significant growth expected in each of their market segments. Notably, and most importantly, Harvest One is in the early stages of a turnaround with the recent appointment of their new Chief Executive, Grant Froese, in July 2018.

    Key measures of future performance for MMJ will be our share price, net tangible assets ("NTA") per share, along with the multiple on invested capital, or "MOIC", that we can achieve from our investment portfolio. We are focused on generating a 2-3x portfolio MOIC over the next 12 months and, if we can achieve that, it will be a strong performance for our shareholders.

    I would like to take this opportunity to thank our shareholders for their support over the past 12 months. The Board appreciates your loyalty and support and we remain committed to delivering value for all shareholders.

    Finally, I also want to thank our new executive team for their focus and effort in completing the heavy lifting required to transform MMJ into a LIC with an exciting future.

    To view the Annual Report, please visit:

    Investor and Media Enquiries:
    Jason Conroy
    Chief Executive Officer
    T: +61-2-8098-0819

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    Bluechiip Ltd (ASX:BCT) provides the Company's Annual Report to shareholders.

    2017-18 Highlights

    - World-first, highly differentiated technology, with protected IP

    - $200M+ growing target market, with very large adjacent markets

    - Dramatically increasing partner pipeline, 29 readers sold up from 14 in FY17

    - Sale of products $434k, up from $140k in FY17 representing a 209% increase

    - Well advanced product development

    - Partner opportunity conversion with three executed licence and supply agreements and Bluechiip Enabled products in manufacture

    - Growing partner supply, over 250k chips delivered in 2H FY18. Initial repeat revenues with sales up 136% year on year

    - Initial $1M order received in Dec 17

    - Post year end updated Labcon agreement over $US11.6m ($A15.9m) FY19, 20 and 21

    To view the full report, please visit:

    Bluechiip Ltd
    T: +61-3-9763-9763

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    iSignthis Ltd (ASX:ISX) provides the Company's Annual Report to shareholders.

    Letter from the Chairman

    Dear Shareholders,

    It is with great pleasure that I present the iSignthis Annual Report for 2018.

    The past financial year has seen the Company continue to deliver on its core strategies and objectives in becoming the world leading hybrid Regtech and financial institution, for identity verification and payment services. It has evolved and strengthened its existing merchant relationships by offering a range of transactional banking services to the regulated market and leveraged the unique selling proposition of its patented services to enhance its reputation in the market place and deliver a unique suite of services and new revenue streams.

    I am particularly pleased to look back on the major milestones that we have been able to announce throughout 2018. These have included;

    - Significant revenue growth for the financial year (FY18$6.3m versus FY17$1.4m)

    - Principal Membership in the major card schemes

    - Additional partnership agreements with Worldline and Payvision

    - Processing and settling funds as a licensed Electronic Money Institution in the European Economic Area

    - Building our acquiring book (GPTV) to a contracted value in excess of AUD$600m

    As the Company has grown and expanded into new territory in regard to the transactional banking services and products on offer to our merchants, the Board are constantly looking at evaluating the skills and experience required in order to meet regulatory requirements and strengthen the knowledge and strategic insight required as we move in to FY2019 and beyond. I am therefore delighted to welcome Christakis (Takis) Taoushanis to the Board of Directors. Takis brings a wealth of banking and payment industry experience to the Board and I am sure that he will make a valuable contribution in the coming years as we continue to develop in both Australia and Europe.

    On behalf of the iSignthis Board of Directors, Management Team and dedicated employees, we would like to express our sincere appreciation to our shareholders. We look forward to sharing our success with you as we continue to grow.

    To view the Annual Report, please visit:

    Investor Relations
    Chris Northwood
    T: +61-458-809-177 
    E: or

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    Argentine-focused lithium exploration and project development company Lake Resources NL (ASX:LKE) (Company) is pleased to confirm that the $1 million financing of almost all of the remaining 10c options has now closed.

    - $1 million financing of remaining 10c options secured.

    - Options converted at a premium with a New York based investor and current shareholders.

    New York investor, Long State Investments (Long State), has provided the $1 million finance for the remaining options. Long State is an investment group with a strategic focus on energy, mining and growth sectors and seek to add value by working closely with management. Long State will also assist in introducing LKE and its value proposition to potential offtakers and strategic investors, and these services are fee-based, common in the industry.

    The conversion of the options at a slight premium to market has been seen as a strong vote of confidence in the Company and the upcoming news flow. Lake Resources wishes to thank current and new shareholders for their support.

    Lake plans to initiate a three hole drilling campaign at the Cauchari Lithium project which is anticipated to show a likely extension to the high grade lithium brines in adjacent properties include 620mg/L lithium close to the lease boundary (see LKE release 6 Sept 2018). A maiden resource estimate is anticipated over the Kachi Lithium project in late October which should help to advance strategic partner discussions underway in China, Korea and Japan.

    Managing Director Steve Promnitz said: "Lake is pleased to secure further investor support as the company is about to commence drilling at Cauchari. We are well on track for mobilization and commencement works. We will be drilling approximately 400-500 metres away from nearby high grade results which we aim to repeat."

    In order to enable the Company to secure additional, non-dilutive funding, the Company has further agreed an equity participation arrangement of $575,000 per quarter with Long State. The potential funding receivable by the Company under this arrangement, based upon the performance of its Shares, has no upper limit. The Company's participation will be determined and payable in 2 settlement tranches payable quarterly as measured against a Benchmark Price of $0.115 per share. If the measured share price exceeds the Benchmark Price, for that quarter, the Company will receive quarterly settlement on a pro rata basis, and vice versa should the measured share price be below the Benchmark Price.

    On 27 August 2018, LKE announced that approximately $0.8 million had been provided to the Company through the conversion of the LKEO 10c options. The underwriting agreement could not be completed as planned due to the average share price at the time trading under the conversion price.

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

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    Collaborate Corporation Limited (ASX:CL8) (Collaborate or the Company) is pleased to confirm the despatch today of the prospectus as lodged with ASIC and ASX on 14 September 2018, including the entitlement and acceptance form, for the partially underwritten non-renounceable entitlement issue of shares to raise approximately $1.16 million before costs (Entitlement Issue).

    The Entitlement Issue is being offered to shareholders registered at the Record Date of 21 September 2018 with a registered address in Australia and New Zealand (Eligible Shareholders) on the basis of one (1) New Share for every eight (8) Shares held.

    As previously announced, the Entitlement Issue is partially underwritten up to a total of $0.6 million by existing sophisticated investors of Collaborate namely Hishenk Pty Ltd, Reefpeak Pty Ltd, Mishki Pty Ltd, Scintilla Strategic Investments Limited, alongside officers of the Company namely Chris Noone, Adrian Bunter and Karen Logan.

    Eligible Shareholders may take up shortfall under the Entitlement Issue in addition to their entitlements under the offer. Applications for New Shares under the Entitlement Issue can be made by BPAY(R) or by completing and returning the entitlement and acceptance form together with a cheque or bank draft.

    The Closing Date for the Entitlement Issue is 5:00 pm (AWST) on Monday, 15 October 2018.

    Eligible Shareholders are encouraged to participate in the Entitlement Issue. Any questions concerning the Entitlement Issue should be directed to Karen Logan, Company Secretary by email at

    Collaborate Corporation Limited
    Tel: +61-2-8889-3641

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    iSignthis Ltd (ASX:ISX) (FRA:TA8) provides the Company's Investor Briefing presentation.

    What does iSignthis do?

    We are a leading payments, eMoney and identity technology company, publicly listed on the Australian Securities and Frankfurt Stock Exchange (ASX:ISX) (FRA:TA8).

    We are an EEA authorised, deposit taking, Monetary Financial Institution and have licenses to operate transactional banking services across Europe and Australia.

    We provide EU/EEA and Australian businesses with transactional banking and a complete customer onboarding solution from remote identity verification to payment processing, settlement and deposit taking services.

    This is achieved via our patented Paydentity(TM) platform and ISXPay(R).

    We are Principal members (Tier 1) of Visa, Mastercard, JCB, and an aggregation partner of AMEX, with SWIFT membership (Bank Identifier Codes : ISEMCY22, ISEPAU31 & ISIGAU31) and Central Banking Facilities.

    Through our subsidiary, we also supply core banking software, to more than 15 banks in North America, Asia Pacific and the EU/EEA.

    Quarterly summary


    Audited accounts reflect the following revenue performance for the period ending 30 June 2018

    - Revenue in FY18 compared to FY17 is 363% greater

    - Revenue in Q4FY18 compared to Q3FY18 is 167%greater

    - Revenue in Q4FY18 was in excess of $3.95m

    - Unaudited revenue for the 6 months from 1st January 2018 to 30th June 2018 was in excess of A$5.5m

    Cash Receipts increased to A$2.633m, representing a 67.4% increase versus the March quarter of A$1.571m

    Management focus is on building a global, long term sustainable business

    "Our fixed cost based has remained relatively stable - our Cost of Goods have temporarily increased to facilitate sustainable long term growth under unexpected conditions."

    To view the full presentation, please visit:

    iSignthis Ltd
    T: +61-3-8640-0990
    F: +61-3-8640-0953

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    Blackham Resources Limited (ASX:BLK) (OTCMKTS:BKHRF) ('Blackham' or 'the Company') is pleased to announce that it has executed an agreement with an entity managed by The Lind Partners, a New York based institutional fund manager, ('Lind') for an investment of up to A$23 million in total capital ('Funding Agreement'). The initial funding commitment will be provided within seven business days.

    - The Lind Partners has agreed to invest up to A$23 million

    - Initial convertible security of A$7.5 million to repay debt and to fund Wiluna resource drilling & expansion studies

    - Blackham has the option to repay the convertible security in shares or cash

    - Conversions restricted for four and half months to 14 Feb 2019

    Lind's initial A$7.5 million investment will be provided as a Secured Convertible Note ('Note 1') with a 24 month term, the proceeds of which will be used, along with Blackham's current cash, to fully repay A$13 million of short term secured debt owed to Orion Fund JV Limited. With the Orion debt fully repaid, Blackham will be able to re-direct operational cash flows to expand its reserves and finalise the Wiluna Expansion Definitive Feasibility Study.

    The Funding Agreement includes repayment provisions that allow for conversion into Blackham shares ('Shares'), optional cash payments, or early repayment at the Company's sole discretion at any time. A lock-up provision restricts conversion of debt into Shares for four and a half months until 14 February 2019, two weeks after the expiry of the Company's 534 million listed options which are exercisable at 8 cents per Share. Any proceeds from the exercise of listed options will be directed to repaying Note 1.

    Blackham's Managing Director, Bryan Dixon, stated:

    "Blackham has significantly boosted its gold production since January 2018. The current financing from Lind will remove short term debt service payments, improve our balance sheet and allow us to reallocate operating cash flows to expand production levels. The Lind Partners has been a long-time supporter of and investor in Blackham, and we are pleased to continue our relationship with Jeff Easton and The Lind Partners."

    Lind's Managing Director, Jeff Easton, said:

    "We have been following Blackham since Lind's first investment in 2012 and have seen them evolve from an explorer to a gold producer with a 6.7Moz resource and a considerable growth story. We are thrilled to invest in Blackham again and support management's strategic plans to expand operations to be one of Australia's most significant gold mines."

    Key Aspects of the Funding Agreement:

    The Funding Agreement is underpinned by the ability to draw up to A$23,000,000 in a number of tranches from Lind. The terms of the Funding Agreement expressly allow Blackham to carry out additional private placements of equity and debt funding or engage in other financing transactions.

    Lind will initially advance A$7.5 million to Blackham who will issue a secured redeemable convertible note with a face value amount of $9 million ('Note 1'), inclusive of interest Blackham has the right to redeem Note 1 at any time which, if repaid within six months, can be redeemed at a discounted face value of A$8.25 million. Lind cannot convert Note 1 into Shares prior to 14 February 2019.

    After 14 February 2019, the Company will repay the amounts owed to Lind via monthly instalments of 1/12th of the face value, which can be paid, at the Company's option each month, in cash or Shares; if in Shares, at a price being the minimum of $0.08 per share or 90% of five daily VWAPs during a specified period of time ('Conversion Price'). Additionally, the Company can use cash to redeem the entire outstanding amount at any time for no penalty, subject to the Investor having the right to elect to convert 30% of the Face Value at the Conversion Price.

    As part of the consideration payable for this Funding Agreement, the Company will issue 72 million Blackham options to the Investor with an exercise price of 8 cents and an expiry of 5 years from issue. Security will be provided to Lind by way of the issue of 50 million collateral Shares that will be credited at the end of the Funding Agreement.

    The parties have agreed that no more than 114,000,000 Shares ('Initial Maximum Share Number') can be issued under Note 1 without shareholder approval. As the Initial Maximum Share Number is within the Company's ASX Listing Rule 7.1 placement capacity, shareholder approval is not required for Note 1 to proceed. The Company will ratify the issue of Note 1 at its annual general meeting and seek shareholder approval for the issue of Note 1 to the extent it can convert into Shares above the Initial Maximum Share Number.

    Drawdown of $6 million is expected within seven business days with the remaining $1.5 million of Note 1 to be received within 20 business days of the date of the Funding Agreement.

    Further drawdowns via convertible securities under the Financing Agreement would provide Blackham with the option to obtain additional funding, if necessary, and would be subject to prior shareholder approvals, mutual agreement by both parties and Blackham maintaining a minimum market capitalisation of A$80 million. Any further drawdowns would be funded, on equivalent terms to Note 1, including the issue of further options in connection with each tranche (also subject to prior shareholder approvals). Lind has the right to reinvest up to A$3 million in a convertible note on similar terms to Note 1, subject to shareholder approval. The Investor has agreed not to acquire 10% or more of the total fully paid ordinary Shares in the capital of the Company.

    Milan Jerkovic
    Executive Chairman
    T: +61-8-9322-6418 
    Bryan Dixon 
    Managing Director
    T: +61-8-9322-6418
    Jim Malone
    Investor Relations
    T: +61-419-537-714
    Chantelle O'Sullivan
    Media Relations
    T: +61-8-6160-4900

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    Emerging lithium miner Sayona Mining Limited (ASX:SYA) (OTCMKTS:DMNXF) announced today the appointment of experienced mining industry communications and external relations specialist, Alexis Segal, to the role of Sayona Quebec Vice President, Corporate Affairs.


    - Highly experienced mining industry communications/external relations specialist, Alexis Segal, appointed Sayona Quebec Vice President, Corporate Affairs

    - Experience includes senior positions at Rio Tinto, Alcan, Port of Quebec Corporation and City of Quebec

    - Strong track record of successful engagement with government, First Nations, landholders and other key stakeholders

    - Appointment follows successful Definitive Feasibility Study (DFS) for the Company's Authier Lithium Project, with Sayona focused on ensuring sustainable development

    An expert in strategic communications, stakeholder engagement and government relations, Mr Segal has extensive experience in Canada's mining, infrastructure and government sectors with a strong track record in creating value for all stakeholders.

    His experience includes 14 years at major miner Rio Tinto, where he successfully executed group strategy to support business objectives at posts including Vice President, Communications and External Relations at Rio Tinto - Aluminium, along with other senior communications posts encompassing Africa, Europe, the Middle East and North America for Rio Tinto Alcan.

    Prior to joining Rio Tinto, Mr Segal served as Vice President, Corporate Affairs at leading aluminium manufacturer Aluminerie Alouette, with responsibility for external communications, corporate social responsibility and government relations.

    His government experience includes posts at Port of Quebec Corporation and the City of Quebec, while he has also acted as a consultant in regional development.

    Mr Segal is bilingual in English and French and was educated at Universite Laval, obtaining a Bachelor's Degree in Geography and a Master's in land use planning and regional economic development. He has also held a number of board positions, including at Aluminerie Alouette, Groupe Alucam, Socatral, Rio Tinto Alcan and various non-profit organisations including business, sporting and charity groups.

    Welcoming the appointment, Sayona's Managing Director, Dan O'Neill said: "Alexis is the perfect candidate for this position, given his vast experience in Quebec, home to our Authier Lithium Project and his track record of successful engagement with a range of stakeholders.

    "Community engagement is vital to ensuring sustainable outcomes from our Authier project and Alexis will be key to this, given his extensive connections across the business, government, sporting and non-profit sectors.

    "Following Authier's positive DFS (refer ASX announcement 24 September 2018) we are confident of developing a successful and sustainable project that delivers genuine benefits for all stakeholders, including jobs and investment for the local community and increased value for shareholders."

    Mr Segal's responsibilities include representing Sayona to the broader community, government, First Nations, media and other stakeholders in Quebec; concluding successful permits to operate; and maintaining environmental, communication and human resources strategies, while ensuring ongoing transparent disclosure and commitment to corporate social responsibility and corporate governance.

    Dan O Neill
    Managing Director
    Phone: +61-7-3369-7058

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    Mustang Resources Ltd (ASX:MUS) (OTCMKTS:MTTGF) provides the Company's latest Investor Presentation at Hong Kong Roadshow.


    - Focused on the mining and exploration of 'New Energy Minerals', critical commodities for the lithium and vanadium battery markets, next generation steel and fire-resistant building materials

    - Mustang is fast-tracking the world-class Caula Vanadium-Graphite project with first cash flows targeted for H2 of 2019

    - Mustang's Caula project hosts a JORC (Measured) vanadium-graphite resource of 22 Mt @ 0.37% V2O5 (0.2% cut-off) and 13.4% TGC (8% cut-off) for 81,600 tonnes of vanadium pentoxide (180 million pounds) and 2.93 Mt of contained graphite

    - High grade intersections of up to 1.9% V2O5 and 29% TGC

    - Simple and robust fully integrated processing flowsheet developed to deliver both graphite and vanadium products

    - Highly experienced board of directors and management team with a proven track record in developing profitable projects in Mozambique and Africa in general

    - Mustang to change its name to 'New Energy Minerals (ASX:NXE)' (subject to shareholder approval at 2 October 2018 EGM)

    To view the full presentation, please visit:

    Managing Director:
    Mustang Resources Limited
    Dr. Bernard Olivier
    M: +61-4-08948-182
    Media & Investor Relations: 
    Jane Morgan Management
    Jane Morgan
    T: +61-405-555-618

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    Argentine-focused lithium exploration and project development company Lake Resources NL (ASX:LKE) has taken the decision to exercise the option over a large belt of outcropping pegmatites in the Ancasti area of Catamarca province, Argentina (see figures 1, 2 and 3 in link below).

    - Pegmatites in Catamarca a likely host for significant lithium mineralisation as spodumene.

    - Decision made to exercise option and acquire project 100% of 70,000 hectare project.

    - Recent field programme suggests a number of potential targets in a 150km mineralised belt.

    - District in Catamarca has seen previous small scale production. Lake is using modern techniques to locate potential new large scale deposits.

    A recent field programme has reinforced the view that the 150 kilometre-long belt favourably hosts significant lithium mineralisation as spodumene in large pegmatite swarms.

    Lake signed an agreement with Argentine company, Petra Energy SA, in early 2017 over an area of exploration lease applications exceeding 70,000 hectares within a belt of outcropping pegmatites over 150 kilometres long.

    A total of 19 million ordinary LKE shares will be issued to the vendors to acquire 100% of the local company and the project, of which 50% of the shares will be escrowed for 6 months. Previously only 1 million shares were issued, on signing of the option agreement in 2017, with the remainder to be issued in the coming days.

    Recent field work in the Ancasti area has resulted in new exploration models being developed which clearly show potential for the belt to host large scale deposits. Previously, coarse grained spodumene crystals 30-70cm long had been identified in a number of locations. Further exploration activities will be conducted once the transaction is completed. Field based XRF analysis to vector in on potential new targets will be undertaken first, followed by trenching and auger sampling. Drill locations will then be defined by these results.

    Managing Director Steve Promnitz said: "The pegmatite project in Catamarca is an enormous target with lots of exploration upside. We secured the project because the geology is very compelling and there is a history of production in the area. We have had considerable interest from third parties, both foreign and local Argentine companies, wanting to jointly explore Catamarca and we'll assess these carefully."

    "Our in-country exploration team expects to commence work very soon on sampling and this will not inhibit progress being made at Kachi and Cauchari which are both on track and progressing to plan."

    To view figures, please visit:

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

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    Thundelarra Ltd (ASX:THX) (OTCMKTS:TLXPF) CEO Tony Lofthouse will deliver a presentation on Thursday 27 September 2018 at the RIU Roadshow from the 25 to the 27 September 2018.

    The presentation provides updates on the results from the recent successful drilling programme at Garden Gully and on exploration that is underway at Red Bore.

    To view the presentation, please visit:

    Mr Tony Lofthouse
    Chief Executive Officer
    Telephone: +61-8-9389-6927

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    MMJ PhytoTech Limited (ASX:MMJ) (OTCMKTS:MMJJF) ("MMJ") is pleased to note the attached news release confirming that Up Cannabis Inc., a wholly-owned subsidiary of Newstrike Brands Ltd (CVE:HIP), has entered into an agreement with MediPharm Labs Inc. ("MediPharm Labs") to supply up to 1,200 kilograms of cannabis flower and shake that will be used for the purpose of extraction and the creation of cannabis oil and/or distillate.

    MMJ has invested CAD$5 million of equity for an approximate shareholding of 6.9% in MediPharm Labs.

    To view the news release, please visit:

    Investor and Media Enquiries:
    Jason Conroy
    Chief Executive Officer
    T: +61-2-8098-0819

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    MMJ PhytoTech Limited (ASX:MMJ) (OTCMKTS:MMJJF) ("MMJ") is pleased to note the filing statement related to the imminent listing, by way of a reverse takeover ("RTO"), of MediPharm Labs, Inc. ("MediPharm Labs") on the TSX Venture Exchange. The filing statement (dated 24 September 2018) can be viewed by entering "POCML 4 Inc" in the Company Name box at:

    MMJ notes that on pages 33 and 34 of the filing statement there is a detailed description of the expected sources and uses of the CAD$20.9 million of available funds to MediPharm Labs on completion of the RTO.

    MMJ has invested CAD$5 million of equity for an approximate shareholding of 6.9% in MediPharm Labs.

    Investor and Media Enquiries:
    Jason Conroy
    Chief Executive Officer
    T: +61-2-8098-0819

    0 0

    White Cliff Minerals Ltd (ASX:WCN) provides the Company's Annual Report for the year ended 30 June 2018.


    During the year the Company successfully advanced several projects, most notably increasing the high grade JORC Compliant gold resource at the Aucu Gold project by 60% to 2.95Mt at 5.1 g/t gold containing 484,000 ounces of gold (previously 302,000 Ounces of gold) and identifying a JORC Compliant copper resource of 17.2 Mt at 0.37% copper containing 64,000 tonnes of copper (previously 44,380 tonnes copper). The deposits are open along strike and at depth. Metallurgical test work indicated high gold recoveries averaging 98% overall.

    Drilling at the Company's existing nickel-cobalt projects identified extensive residual oxide cobalt and nickel mineralisation at both Coglia Well and Coronation Dam which are both within trucking distance to Glencore PLC's Murrin Murrin Nickel processing facility. Both deposits are open laterally and along strike.

    To view the full report, please visit:

    Todd Hibberd
    Managing Director
    T: +61-8-9321-2233

    0 0

    iSignthis Ltd (ASX:ISX) ("the Company") provides an update regarding its third party supply chain.

    A> Kobenhavns Andelkasse Bank (

    As of the 13th September 2018, the Kobenhavns Andelkasse Bank ("KAB") was placed under the control of the Danish State administration company for banks, known as "Finansiel Stabilitet" ("FS")(see Note below). The Company is continuing to seek clarification but has received information from FS in the last 24 hours, that where a resolution was previously thought possible, means the Company's clearing and settlement of its partner card networks via KAB is no longer possible.

    The KAB matter has already impacted processing, clearing and settlement intermittently during July and August, and most of the September month. The Company's merchants have in the meantime made arrangements to continue to utilise their existing card processing facilities outside of the Company's present network.

    The Company had used KAB as part of its card and APM clearing and settlement network, including for holding Company's own, settlement and client funds in EMA's. The direct exposure to KAB is circa EUR255k, which is likely to be returned under the Danish 'Guarantee Scheme for Depositors and Investors', with the Company awaiting details as to timing of release of funds.

    The matter with KAB however demonstrates that execution of the previously communicated core strategy is paramount, and the main priority is for the Company to conclude the implementation of its Tier 1 (direct) connections to central banks and card schemes as soon as possible, in order to not be impacted by third party issues.

    B> Revenue Impact

    The Company's revenues and cash flow will be impacted this quarter as a consequence of settlement funds being returned back up the supply chain, and settlement being deferred or via alternate (non company) channels. The resulting deferred cash flows and corresponding revenues will be recognised once settled, with a further USD$500k identified in third party (non KAB) suspense accounts. Consequently, the Company advises September quarter receipts will be down significantly from last quarter, with resultant cash receipts possibly as low as $1.2m. The Company is working to manually clear funds on a priority basis.

    C> Central Banking

    The Company has been advised by the Single Euro Payment Area (SEPA) scheme operator, the European Payments Council, that its facilities are on track to go live for processing Euro settlement and clearing via its central banking facilities on the 8th October 2018. The Company will configure its clearing and settlement supply chain directly into its central banking facilities with focus on concluding our EU Tier 1 connections for Visa, Mastercard and JCB at the same time.

    The Company had previously planned to use KAB to conduct an orderly transition to its own banking facilities. The KAB matter mean that the company will not be processing EU card transactions (with corresponding impact on revenues) until our own central bank facilities are commissioned. The Company's core banking and Tier 1 card processing systems will be going live progressively through October into early December as previously announced, with EMA's going live before end of October.

    D> Forward Looking FY 2019 - Emoney Accounts (EMA's), JCB, VISA, Mastercard

    The Company's forecasts announced yesterday for FY19 commencing January to December are restated, with a typographical error amended:

    - Card processing/ Acquiring = $13.2m

    - EMA = $3m

    - Other Services = $1.5m

    - Gross Profit Total = $17.7m (was stated as $17.5m in announcement dated 25/9/18)

    Annual Operating cost base ~ ($7m)

    Anticipated FY2019 EBIT: AUD $10.7m (was stated as $10.5m in announcement dated 25/9/18))

    E> Australian Opportunity

    The Company is optimistic that the short term challenges it is facing in its European operation will not in any way impact its upcoming Australian operations. The Company continues to put arrangements in place to allow for card settlement and clearing in Australia to take advantage of the opportunities created by the 'evolving' Australian regulatory landscape and the NAB's revised risk appetite, into FY2019.

    F> Summary

    Whilst the KAB matter has significant impact on short term revenues, the Company's Tier 1 facilities are being progressively completed and commissioned over the coming weeks in any case. The Company's principal focus is now on delivery of its EU network, and planning for its Australian network, in order to deliver against its contracted forecasts and maximise its opportunities. The Company's overall view remains optimistic and positive with regards to execution of its overarching strategy.


    iSignthis Ltd
    T: +61-3-8640-0990
    F: +61-3-8640-0953

    0 0

    MMJ PhytoTech Limited (ASX:MMJ) (OTCMKTS:MMJJF) ("MMJ") is pleased to note the attached release confirming that MediPharm Labs Inc ("MediPharm Labs") is expected to commence trading on the TSX Venture Exchange under the symbol 'LABS' on 3 October 2018.

    MMJ has invested CAD$5 million of equity for an approximate shareholding of 6.9% in MediPharm Labs.

    To view the release, please visit:

    Investor and Media Enquiries:
    Jason Conroy
    Chief Executive Officer
    T: +61-2-8098-0819

    0 0

    Emerging Australian lithium developer, Core Exploration Ltd (ASX:CXO) ("Core" or the "Company"), is pleased to announce an update as the Company plans toward production of high-quality lithium concentrate in 2019.

    Core's recruitment of experienced mining Chief Financial Officer (CFO), Mr Erik Palmbachs, is a key appointment to Core's executive team as the Company establishes the capabilities to move into development and production over the next 12-months.

    Mr Palmbachs has been responsible as CFO during the development, start and operation of a number of mining and mineral processing projects over the past 20 years including mining projects operating in the NT, WA and internationally. Notably, Erik was CFO at Catalpa in the lead up to the merger to create Evolution Mining as the market cap grew from $15M to $400M.

    The Board of Core also takes the opportunity to thank Mr Jarek Kopias for his commitment to Core in a part-time capacity as CFO since 2011. Mr Kopias will continue as Core's Company Secretary.

    Core's office requirements have also changed to accommodate the expanding capabilities and skills of the organisation. In accordance with Listing Rule 3.14, the Company's office details will change as of 26 September 2018.

    The Company's new contact details are listed below:

    Registered office and principal administrative office: Level 1, 366 King William Street, Adelaide, South Australia 5000

    Postal address: PO Box 6028, Halifax Street, South Australia 5000

    Telephone: +61-8-8317-1700

    For further information please contact: 
    Stephen Biggins
    Managing Director
    Core Exploration Ltd
    T: +61-8-7324-2987
    For Media and Broker queries: 
    Andrew Rowell
    Director - Investor Relations
    Cannings Purple
    M: +61-400-466-226

    0 0

    Thomson Resources (ASX:TMZ) is pleased to announce that approvals are largely in place and a drilling rig secured for drilling programs at each of its tin and gold projects in central NSW.

    At Bygoo North, the main target will be to define and extend the newly discovered "Dumbrells" greisen which runs north-south through the old Dumbrells shallow pit (see Figure 1 in link below, also see TMZ ASX release 19 March 2018).

    The Tin drill program also includes several targets in the Big Bygoo area that lies around two kilometres south of the discoveries at Bygoo North and South. The prospects occur as outcropping greisens running for several hundred metres each. Many old workings have been sunk on the outcropping greisens with active mining taking place between 1912 and 1939. According to Mine Records at least 10,600 tons of ore was mined from shallow depths, containing around 200 tons of tin. This is similar to the Mine Record production from Bygoo North.

    A second drill program is planned at the Harry Smith Prospect, south of Ardlethan, to follow up on the Company's strong gold results from its inaugural drilling, including the 54m at 1.0 g/t Au from a depth of 8m intersected near the Golden Spray workings (see ASX release 23 March 2018).

    In all, around 3,000m of drilling is planned, the largest program undertaken to date by Thomson in the Ardlethan district. Drilling is planned to commence in mid-October.

    To view figures, please visit:

    Thomson Resources Ltd
    T: +61-2-9906-6225

    0 0

    Alt Resources Limited (ASX:ARS) ("Alt or the Company") is pleased to provide the following information on the acquisition of Bottle Creek Gold Mine. In November 2017 the Company entered into a binding Option to Purchase Agreement (Option) to acquire the Bottle Creek Gold Mine located 80 kilometres north west of Menzies in the Mt Ida gold belt WA.


    - All conditions satisfied to complete and exercise the Option to Purchase Agreement(see Note 1 below) Bottle Creek Gold Project

    - Negotiations on settlement for payment of the Bottle Creek Gold Mine completed on favorable commercial terms

    - Final payment for Bottle Creek to be made in 2 tranches

    - 1st tranche payment $1.875M in November 2018

    - 2nd tranche payment $3.0M in November 2019

    In August 2018 Alt delivered the maiden JORC resource for the Bottle Creek project(see Note 2 below) being the final condition precedent to satisfy all the terms contained in the Option agreement. The amended settlement terms reflect the good will between the Vendor and the Company pursuant to execution of conditions precedent contained in the Option agreement and confidence the Vendor has in regard to the Company implementing and delivering the outstanding drilling results and the maiden JORC resource at Bottle Creek.

    Under the amended settlement terms negotiated the Company will pay the Vendor;

    - $1.875M Initial instalment in November 2018

    - $3.0M Final Instalment in November 2019.

    - $240,000 interest payment

    - $60,000 compensation payment

    - $25,000 rehabilitation security bond

    CEO of Alt Resources, Mr James Anderson commented, "The amended settlement terms for Bottle Creek is a significant milestone for Alt Resources and represent generous commercial terms negotiated with the Vendor to acquire the project and I'm very pleased to be able to announce this to our shareholders today. Bottle Creek is the first of our high-grade gold projects situated within the Mt Ida Gold Belt region and all our drilling to date has yielded excellent results which provide us tremendous confidence that we'll be progressing Bottle Creek to the development stage and future mining, producing gold from this asset. Next steps take us toward feasibility study and production planning which I look forward to progressing over coming months."




    James Anderson
    CEO Alt Resources Ltd
    M: +61-406-069-243
    Peter Taylor
    Investor Relations
    M: +61-412-036-231

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