Quantcast
Channel: ABN Newswire
Viewing all 12684 articles
Browse latest View live

Collaborate Corporation Ltd (ASX:CL8) Launch of Apartment Car Share Pilot and Marketing Update

$
0
0
Collaborate Corporation Limited (ASX:CL8) (Collaborate or the Company) is pleased to announce that it has launched the Apartment Car Share Pilot in Willoughby in New South Wales in association with Hyecorp, a company associated with Hishenk, Collaborate's largest shareholder. Hyecorp and DriveMyCar share the vision that this offering can be rapidly scalable and provide a new revenue stream for DriveMyCar which has significant growth potential.

The car share pilot aims to provide residents of apartment developments with the opportunity to share their own cars with other residents. DriveMyCar has engaged with the strata committee in relation to the roll-out and operations of the car sharing pilot. DriveMyCar provides customer service, booking functionality, technology for the unlocking and security of vehicles and owner and renter payment management. The minimum rental period per rental will be 1 hour.

The first stage of the pilot involves recruiting owners to list their vehicles for rent. Once a suitable number of vehicles have been secured, the opportunity to book the cars will be made available to all residents in the apartment development.

The proposed solution provides advantages for all parties:

- Valuable car parking spaces can be utilised for both private and car share use, freeing up real estate and providing greater returns for residents and apartment developers.

- Easy access to cars on an on-demand basis at reasonable prices.

- Income earning opportunity for vehicles owners.

- Efficient way for DriveMyCar to access opportunities in the short-term car share market.

Pending completion of a successful pilot, DriveMyCar will scale up the initiative, with the aim of rolling out to multiple locations, taking advantage of the rapid urbanisation of Australian suburbs and the increasing trend towards accessing car share vehicles, instead of each person owning their own vehicle.

Marketing Update

Over the last 12 months Collaborate has worked closely with RACV in relation to the Victorian market with the DriveMyCar proposition being offered under the joint 'RACV DriveMyCar' brand. Following a review of operations and efficiency for marketing, RACV and Collaborate have agreed that during October the branding for the proposition in Victoria will revert to 'DriveMyCar' to enable the benefit of single national search, social media and PR campaigns to be fully realised. RACV will continue to promote DriveMyCar to prospective owners and renters, as well as promoting MyCaravan to its 2.1 million members.

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

iSignthis Ltd (ASX:ISX) UnionPay International Licensing for ISXPay

$
0
0
iSignthis Ltd (ASX:ISX) (FRA:TA8) (Company) is pleased to advise that its wholly owned subsidiary, iSignthis eMoney (AU) Pty Ltd ("ISEMAU) has entered into a card not present / online agreement with Union Pay International, to act as a card acquirer of China Union Pay (CUP) issued cards.

Highlights

- Agreement entered into for Australian region

- ISXPay to be able to acquire China UnionPay cards in 2019

- China Union Pay has the largest number of cards on issue of any card scheme

The Company is required to complete full membership requirements, including technical integration and certification before offering the service to merchants. It is anticipated that certification and availability of the service to Australian merchants will be by end of first quarter 2019.

Once the service is live, ISEMAU may contract, process, acquire and settle directly to merchants.

CUP cards are being issued by banks outside of China, including Europe, North and South America, Asia and Africa, with CUP being the largest card issuer in the world. CUP is an increasingly popular card in Australia and the world, as evidenced by its latest transaction data released on 6 February 2018, which shows that the transaction volume for UnionPay grew by 28.8% year-on-year to USD 14.95 trillion (RMB 93.9 trillion).

UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay's global business. In partnership with more than 1800 institutions worldwide, UnionPay International has enabled card acceptance in 170 countries and regions with issuance in 48 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world's largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.

Further details on Union Pay International are available from http://www.unionpayintl.com/en/

iSignthis Ltd
T: +61-3-8640-0990
F: +61-3-8640-0953
E: investors@isignthis.com
WWW: www.isignthis.com

Blackham Resources Ltd (ASX:BLK) Explanation of Financial Results

$
0
0
Blackham Resources Limited (ASX:BLK) (OTCMKTS:BKHRF) ("Blackham") reports its financial results for the financial year ended 30 June 2018.

EXPLANATION OF RESULTS

- The Company recorded a loss for the year ended 30 June 2018 of $20.0 million. $14.4m of the loss was incurred in the first half of the year which was mostly impacted by low gold production at the Matilda-Wiluna Gold Operation, where production and mill feed head grade was hampered by 43% of mill feed being sourced from low grade stockpiles.

- The second half of the year saw a 31% increase in production on the previous half. This was driven by lower open pit mining strip ratios, higher mill grade and continuous improvements made by the processing team to the plant. Mill throughput improved in each successive quarter of FY18, with record throughput achieved in the Jun'18 quarter (535kt milled).

- Operationally, the Company had gross profits from operations of $4.8m (before non-cash depreciation and amortisation charges), $5.6m of which came from the second half of the year, completely turning around the first half's performance.

- Cash flows from operating activities were A$6.2m, of which A$8.3m came from the six months ending 30 June 2018.

- Production guidance for FY19 is 77k-89koz @ an AISC of A$1,250-$1,450/oz.

Strong production is expected to continue in FY19 as high grade material is accessed from the Wiluna open pits, and Blackham remains committed to extending its free-milling plan via exploration success. Our goal is to consistently achieve production of 80koz per annum and create a pathway to unlocking value in our sulphide resource, making the Matilda-Wiluna Gold Operation one of Australia's more significant mines.

To view tables, please visit:
http://abnnewswire.net/lnk/HIUCM6L2

Milan Jerkovic
Chairman
T: +61-8-9322-6418 

Bryan Dixon 
Managing Director
T: +61-8-9322-6418

Jim Malone
Investor Relations Manager
T: +61-419-537-714

Chantelle O'Sullivan
Media Enquiries
Citadel-MAGNUS
T: +61-8-6160-4900

Blackham Resources Ltd (ASX:BLK) Investor Presentation

$
0
0
Blackham Resources Ltd (ASX:BLK) (OTCMKTS:BKHRF) provides the Company's latest Investor Presentation.

COMPANY OVERVIEW

- Blackham's Matilda-Wiluna Gold Operation has 4.4Moz of historical production

- +1,100km2 of tenure & 55km of strike in Australia's biggest gold belt - the Norseman - Kalgoorlie - Wiluna belt

- Resource 96Mt @ 2.2 g/t for 6.7Moz Au(1) (58% Indicated) with all deposits
- Operational stability attained - production of 77-89koz targeted for FY2019 at AISC of A$1,250/oz-A$1,450/oz (US$940/oz-US$1,088/oz)

- Very capital efficient step-change to > 200kozpa production

- Expansion PFS highlighted - gold production avg 207okozpa, life of mine AISC A$1,058 (US$836)

- Lind Partners Investment for up to A$23m to bring balance sheet stability(2)

- Four separate large gold systems, with good mix of base load open pit & high grade underground ore sources

- Very experienced board and operational team

A COMPELLING INVESTMENT OPPORTUNITY

- Free-milling production delivering operational cashflow

- Balance sheet significantly strengthened over last 9 months

- 1.2Moz reserves (15Mt @ 2.6g/t Au) with long mine life

- Exploration programmes ongoing to strengthen and lengthen reserves

- Outstanding long-term upside from dominant land position and 6.7Moz (96Mt @ 2.2g/t Au - 68% indicated) resource with well defined geology

- Very strong Board and management team

(1) Refer to ASX release dated 13 September 2018

(2) Refer to ASX release dated 25 September 2018

To view the full presentation, please visit:
http://abnnewswire.net/lnk/1K15NDST

Milan Jerkovic
Chairman
T: +61-8-9322-6418 

Bryan Dixon 
Managing Director
T: +61-8-9322-6418

Jim Malone
Investor Relations Manager
T: +61-419-537-714

Chantelle O'Sullivan
Media Enquiries
Citadel-MAGNUS
T: +61-8-6160-4901

Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) Annual Report to Shareholders

$
0
0
Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) provides the Company's Annual Report to Shareholders.

CORPORATE HIGHLIGHTS

- On April 4, 2018, the Company advised that first pass regional exploration drilling was underway. Recent RC drilling results on the Kungongo Prospect were announced which focused primarily on shallow auger soil gold anomalies and ground magnetics targets. Drilling confirmed a sequence of mixed sediments and mafic volcanics. The initial RC drilling was completed on a series of fences between 400m and 1,600m apart. Hole spacing on lines was at 50m to 100m centres with the drilling covering approximately 3.6km of strike length along the target. Gold intersections returned were encouraging with some significant grades and multiple zones encountered.

- On April 19, 2018, a Technical Report on the Namdini Gold Project was filed on SEDAR where the Company announced an updated Mineral Resource estimate of an Indicated Mineral Resource of 180 Mt grading 1.1 g/t Au for 6.5 Moz Au and an Inferred Mineral Resource of 13 Mt grading 1.2 g/t Au for 0.5 Moz Au, each at a 0.5 g/t Au cut off. The mineralisation remains open along strike and down dip. The NI43-101 Technical Report was authored by MPR Geological Consultants Pty Ltd and has an effective date of March 5, 2018. The Technical Report can be viewed under the Company's issuer profile on SEDAR at www.sedar.com or the Company's website www.cardinalresources.com.au

- On May 28, 2018, the Company announced that encouraging first pass shallow RC drilling gold results were returned from one of the six coincident gold-in-soil and geophysical targets on the Ndongo Licence within the Bolgatanga Project, which is located ~15 km north of the Company's Namdini Gold Project with an Indicated Mineral Resource of 6.5 Moz Au (Figure 2). These preliminary results were very positive and confirmed previous historical exploration by Etruscan Resources.

- On July 16, 2018 ,the Company announced that it had intersected further gold mineralisation at a new discovery named Ndongo East on its 100% owned Ndongo License, located approximately 15 km north of the Company's flagship Namdini Gold Project which has a 6.5 Moz Indicated Mineral Resource (Figure 3). During the next quarter, the Company expects to announce further exploration results from its comprehensive campaign to continue to add value to its Bolgatanga exploration tenement package.

- On July 31, 2018, the Company announced that it had received investment committee approval from and executed a term sheet with Sprott Private Resource Lending (Collector), L.P. ("Sprott") to be provided with a US$25 million senior secured credit facility ("Facility"). The Facility is subject to mutually satisfactory documentation and other customary conditions precedent, which are expected to be completed on or about 17 August 2018. The US$25 million Facility will provide working capital and funding to complete the Preliminary and Definitive Feasibility Studies for Namdini.

- On August 22, 2018, The Company announced that it had completed the final legal and formal documentation allowing it to enter into a transaction for US$25 million with Sprott.

- On September 18, 2018, the Corporation announced the results of its pre-feasibility study (PFS) on the Namdini Project, highlighted by a 4.76 Moz maiden probable ore reserve at a 1.14 g/t cut-off. A press release announcing the results of the PFS is available on SEDAR at www.sedar.com. A technical report containing the PFS and prepared in accordance with NI 43-101 will be available on SEDAR at www.sedar.com within 45 days.

To view the full report, please visit:
http://abnnewswire.net/lnk/LYJ7080F

Archie Koimtsidis
CEO / MD
Cardinal Resources Limited
P: +61-8-6558-0573

Alec Rowlands
IR / Corp Dev
Cardinal Resources Limited
P: +1-647-256-1922

Bettina Filippone
Renmark Financial Communications Inc
E: bfilippone@renmarkfinancial.com
P: +1-416-644-2020 or +1-514-939-3989

Blackham Resources Ltd (ASX:BLK) Annual Report to Shareholders

$
0
0
Blackham Resources Ltd (ASX:BLK) (OTCMKTS:BKHRF) provides the Company's Annual Report to shareholders.

Chairman's Letter

Dear Shareholders,

During the past 12 months, your Company continued its journey to establishing itself as a profitable gold producer. A number of operating, technical, financing and corporate challenges needed to be overcome to produce a significant turnaround in the second half of the financial year. Operations were difficult in the first half of the year; however the underlying resolve of the Blackham team was demonstrated by the strong performance in the six months to June 2018. The processing plant has showed continuous improvement and valuable learnings were applied to improve mine planning. I would personally like to thank the whole Blackham team for their continued dedication and resolve to grow our Company.

I would like to acknowledge and thank our shareholders for their continued support. Shareholders represent the backbone of our Company and this was particularly evidenced by the strong level of acceptances in our renounceable rights offer completed in February. Blackham continues to work hard to reward shareholders, and commensurate with this objective, has taken steps to strengthen its Board of Directors. The diverse skills on Blackham's Board will provide sound technical and commercial guidance necessary to achieve operational excellence, define our longer-term strategy and crystallise value for our shareholders.

The upcoming financial year will see Blackham reap the benefits of the hard work performed in FY18. FY19 will include a transformation to Blackham's free-milling operations with mining of oxide and transitional material commencing at Wiluna. Your Company's ambition is to establish a rolling five-year free-milling plan and it is committed to supporting growth through exploration. In parallel, the Company will continue to work on unlocking significant value from its sulphide reserves and resources. Blackham is focussed on progressing its sulphide expansion plans to a Definitive Feasibility Study. The Expansion PFS confirmed gold production averaging 207,000ozpa is achievable on a very capital-efficient basis for a likely long mine life. The Expansion PFS provided the following key results:

- Initial Gold Production - 1.47Moz Au over initial 9 years

- Gold Production average - 207,000ozpa (first 6 yrs after expansion)

- LOM All in sustaining costs - A$1,058/oz

- Project cash flows - $571m with Initial Capex of $114m (based on A$1,600/oz gold price)

- NPV (@8%) - $360m and an IRR of 123% (based on A$1,600/oz gold price)

The Company continues to work on options to optimise and enhance the expansion plan.

I would like to thank the whole Blackham team, for their continued belief and work ethic to make Blackham a long-term success story. I look forward to witnessing the continued growth of our Company, and its people, as we strive for that next level of performance.

The regional scale and quality of our resource base is unique for a company of our size and as we deliver plans to unlock the vast geological potential, I expect shareholders will be rewarded.

To view the Annual Report, please visit:
http://abnnewswire.net/lnk/E6XR0PO4

Milan Jerkovic
Executive Chairman
T: +61-8-9322-6418 

Bryan Dixon 
Managing Director
T: +61-8-9322-6418

Jim Malone
Investor Relations Manager
T: +61-419-537-714

Chantelle O'Sullivan
Media Enquiries
Citadel-MAGNUS
T: +61-8-6160-4901

Mustang Resources Ltd (ASX:MUS) Annual Report to Shareholders

$
0
0
Mustang Resources Ltd (ASX:MUS) (OTCMKTS:MTTGF) provides the Company's Annual Report to shareholders.

Review of Operations

During the financial year under review the Company continued with the respective exploration programs for its Montepuez Ruby Project as well the Caula Graphite and Vanadium Project. During the second half of the reporting period, both projects were subjected to a comprehensive internal review and viability analysis of their respective current and future prospects.

Montepuez Ruby Project, Mozambique

During the first quarter of the financial period under review (July 2017 to September 2017) Mustang's main focus was the generation of stock for sale at its maiden rough ruby tender that was held between 27 and 30 October 2017. Mustang managed to take 405,000 carats to the maiden tender conducted at Port Louis, Mauritius. A total of 29,463 carats of rough rubies were sold and the average realised price was $24.21/ct. Gross sales proceeds of approximately $713,456 were received. As the Company acknowledged at the time, the tender results were disappointing. During 2018 Mustang initiated a comprehensive review of the project and the ongoing exploration, bulk sampling and sales activities were structured in a fashion that enable a quantitative analysis of the costs and revenue generated by the exploration program with the aim of establishing the financial feasibility of the project. A further 46,843 carats of rubies and corundum were subsequently extracted and processed on a quantifiable cost basis as part of the exploration program conducted between January 2018 and 30 June 2018. During the same period 140,411 carats of rubies and corundum were sold for $820,617. The carats sold between January 2018 and 30 June 2018 include stock carried over from the maiden tender.

The review and project viability analysis, led by management, was completed during the latter parts of the reporting period and concluded that the project was not economically viable and would require significant further funding to continue exploration and development work with a high level of uncertainty over the future viability of its project.

Subsequent to the reporting period, on 17 July 2018, Mustang announced that it had entered into a merger agreement for its Montepuez ruby assets with Fura for approximately (subject to exchange rate) 10.5 million in shares in Fura. Under the terms of the agreement, the shares are to be issued to Mustang in three tranches over 20 months from closing. The agreement contained a commitment by Fura committed to invest $25 million in further exploration and resource definition work on its expanded Montepuez Project over 3 years, subject to continued exploration success.

The Company subsequently impaired the carrying value of the Montepuez Ruby Project in the financial report to 30 June 2018 in relation to the project to $3.99 million.

Caula Vanadium & Graphite Project

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

In November 2017 Mustang announced its maiden JORC compliant Inferred Mineral Resource of 5.4 million tonnes at an average grade of 13.0% TGC for 702,600 tonnes of contained graphite was estimated for the Caula Graphite Deposit. A cut-off grade of 6.0% Total Graphitic Carbon (TGC) was used for the estimation and resulted in an estimate of over 700,000 tonnes of contained graphite.

During the reporting period drilled, logged, sampled and assay a total of 11 holes for 1,421.5m on the Caula Project as part of its Scoping Study work program and Graphite and Vanadium resource estimation work. The assays include intersections of up to 1.9% vanadium (V2O5) and 28.9% Total Graphitic Carbon (TGC). The results contain multiple high-grade intersections over extensive widths, including 215m at 14.72% TGC average and 0.51% V2O5 average (MODD018).

The Vanadium results include:

- 125m @ 0.42% V2O5 including 21m @ 0.7% V2O5 (MODD014)

- 32m @ 0.82% V2O5 including 14m @ 1.29% V2O5 (MODD018)

- 79m @ 0.39% V2O5 including 6m @ 0.55% V2O5 (MODD022)

The Graphite results include:

- 125m @ 14.1% TGC including 18m @ 19% TGC (MODD014)

- 48m @ 17.68% TGC including 13m @ 21.5% TGC (MODD018)

- 66m @ 15.41% TGC including 13m @ 17.79% TGC (MODD022)

On 25 June 2018 the Company announced metallurgical test work results. Metallurgical test work confirms quality graphite with cumulative proportion of large to super jumbo flakes (>180um) increased from 44% to 60% for the combined Oxide zone while the Fresh zone increased from 55% to 68%. The metallurgical testing done to date has firmly established Caula as being able to yield high percentages Super Jumbo, Jumbo and Large flakes (~68% in the fresh ore) with carbon content up to 98% (average of 97% across all products). This is a significantly better higher-value product distribution than all other peers in the Balama graphite province (including Syrah Resources) and at a high resource grade of 13% TGC. A modified and improved flowsheet design was also developed that allows for integrated vanadium and graphite extraction and high concentrate grades of more than 97% Total Graphitic Carbon have been maintained in the modified flowsheet.

Subsequent to the financial year-end, Mustang announced its maiden Vanadium Mineral Resource and upgraded Graphite Mineral Resource. The maiden Vanadium Resource, all in the Measured Category, is 22Mt at 0.37% vanadium pentoxide (V2O5) (0.2% cut-off) for a total of 81,600 tonnes of contained vanadium pentoxide. The upgraded Graphite Resource, in the Measured Category is 21.9Mt at 13.4% TGC (8% cut-off) for a total of 2,933,100 tonnes of contained Graphite.

The Company believes that the results of the Scoping Study will support the Board and management's confidence in the potential of both the vanadium and graphite contained in the Caula Project.

To view the full Annual Report, please visit:
http://abnnewswire.net/lnk/97KE76LL

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

Media & Investor Relations: 
Jane Morgan Management
Jane Morgan
E: jm@janemorganmanagement.com.au
T: +61-405-555-618

Hastings Technology Metals Ltd (ASX:HAS) Annual Report to Shareholders

$
0
0
Hastings Technology Metals Ltd (ASX:HAS) provides the Company's Annual Report to shareholders.

LETTER FROM THE CHAIRMAN

Dear fellow shareholders,

The Yangibana project (Project) has made significant progress over the last year towards development as a high-grade neodymium and praseodymium mine.

The November 2017 Definitive Feasibility Study (DFS) detailed the Project, which will produce a Mixed Rare Earth Carbonate (MREC) rich in Neodymium (Nd) and Praseodymium (Pr), critical materials used in the manufacture of permanent magnets to drive electric motors used in Electric Vehicles (EV), wind turbines, and other high-tech applications. The DFS produced a maiden Ore Reserve of 5.15 million tonnes for the Bald Hill and Fraser's deposits, which underpinned the first 5 years of mine life. The DFS also included an additional production target (APT) produced from the Yangibana West, Yangibana, Auer and Auer North deposits.

The Project is comprised of significant deposits across the tenement holdings - Bald Hill, Fraser's, Yangibana West, Yangibana, Auer and Auer North - all 100% owned by Hastings (note that these areas mentioned herein represent approximately 50sqkm out of a total of 650sqkm of exploration tenure). In addition, Hastings holds a controlling 70% stake in other tenements held in a Joint Venture arrangement in the greater Yangibana area, although these were not considered in the DFS study. These Joint Venture tenements may be readily developed as upside to increase the mine life of the Project in the future.

Subsequent to the DFS probable ore reserves were increased to approximately 7.7 million tonnes at 1.13%TREO including 0.43%Nd2O3+Pr6O11, and further drilling subsequent to year end will move this towards the target of 10 million tonnes, a ten year mine life, by early 2019.

Significant effort was made during the year to establish and further develop relationships with potential customers, leading to the execution of four Memorandum of Understanding (MOU) offtake agreements, including thyssenkrupp Raw Materials GmbH. The total of four MOUs signed represent approximately 73% of planned MREC annual production of 15,000 tonnes from the Project. The Company is now in the process of documenting and negotiating detailed commercial agreements.

The development of a mine requires the support of many stakeholders and Hastings was delighted to sign a Native Title Agreement for its entire Project portfolio of 650 sq km with the Thiin-Mah Warriyangka, Tharrkari and Jiwarli People (TMWTJ) during the year. The agreement provides commercial benefits to the TMWTJ people and also enables the Company to work with the community in providing education, training and employment opportunities including assisting in the establishment of complementary sustainable local businesses.

A further major milestone was achieved with the filing of the Environmental Review Document (ERD) with the Environmental Protection Agency (EPA) of Western Australia. The document confirms that the Project can meet the scope of work outlined in the EPA approved environmental scoping document and Hastings commitment to managing the Project in a socially acceptable and environmentally responsible manner. The ERD is a substantial comprehensive document and it is expected that an EPA recommendation will be forthcoming in early 2019. The EPA has now approved the release of the Environmental Review Document for the four week public review period (1 - 28 October, 2018).

Our substantial progress and development of the Project has not been possible without the ongoing support of our shareholders and new shareholders. During the year the Company raised $33.5 million (including closure of the share purchase plan in July 2017: $4.4m at 8.6 cents per share, a placement of $16.2m August 2017 at 20 cents per share, and a rights issue of $12.2m in February 2018 at 31 cents per share), and a further $14 million through a placement at 21 cents per share subsequent to financial year end.

A balance of equity and debt financing will be required to fund the Project development and to this end Hastings has signed an exclusive mandate with German KfW IPEX-bank to provide project finance loan advisory services in relation to securing approval from Euler Hermes Aktiengesellschaft ("Euler Hermes") as mandated by the German Federal Government as administrators of the Untied Loan Guarantee scheme ("UFK Cover"). Upon approval from Euler Hermes and the authorised credit committees of KfW IPEX-Bank, KfW IPEX-Bank has indicated that it will provide senior debt facilities of up to A$250m for the project. It is anticipated that further equity issues will complement the debt financing currently underway which is targeted to close in 2Q next year.

We are making steady progress towards our mid 2020 production timeline with the construction of the accommodation village well underway and the imminent placement of an order for an Acid Bake Rotary Kiln, a critical piece of long lead time equipment, with FLSmidth.

We anticipate strong demand in the years ahead for permanent magnets and electric motors. Government policies for efficient and clean energy combined with pollution control are the catalyst for the anticipated ramp up in demand. Investments in wind energy continues to grow substantially world wide and numerous automotive manufacturers are announcing new EV or hybrid EV models coming on stream in the next year or two. We are living in an era of the e-mobility revolution and witnessing this transition where EV will become main stream mode of transport.

On behalf of the board, I thank all of our stakeholders for their continued support as we remain committed in our objective of bringing this Project with its exceptionally high Nd-Pr content of rare earth into production.

To view the Annual Report, please visit:
http://abnnewswire.net/lnk/O4MWM2V9

Stefan Wolmarans
Chief Operating Officer
T: +61-2-9078-7674

Andy Border 
General Manager Exploration
T: +61-2-9078-7674

The Betmakers Holdings Limited (ASX:TBH) Update to PlayUp Transaction

$
0
0
The Board of The BetMakers Holdings Limited (ASX:TBH) (OTCMKTS:TPBTF) ("Company" or "BetMakers") would like to provide an update in respect of the sale of 100% of the shares in TopBetta Pty Ltd ("TopBetta") and the associated TopBetta and MadBookie retail brands, to PlayUp Australia Pty Limited ("PlayUp") ("Transaction"), along with the expansion of services into the US market between BetMakers, PlayUp and the Global Tote.

Further to the announcement released on 2 July 2018, the parties have agreed to restructure the $3mil payment due on 30 September 2018 under the Transaction such that:

- $250K was paid on 1 October 2018;

- $750K is payable on 30 November 2018; and

- $2mil is payable on 31 December 2018.

The parties have also agreed to terms for Global Tote to provide its International racing pools for PlayUp's United States operations, which is expected to launch in December 2018.

PlayUp holds an ADW licence through its newly acquired subsidiary, TopBetta. PlayUp has also recently announced the acquisition of 123Bet, an established online wagering operator that holds a licence to operate in 35 states throughout the US. The acquisition of 123Bet by PlayUp is expected to complete on 5 October 2018.

Once PlayUp completes the acquisition of 123Bet, the Global Tote will provide International pools that are currently not being offered in the US and expects to be taking bets from the US in November 2018 following integration with existing operator WatchandWager.

CEO of the BetMakers, Todd Buckingham, said: "It's great to be expanding our partnership with PlayUp as they move into the Global market. We have recently launched their "Free to Play" site, PlayUpBet and to expand the relationship into the US market through their wagering operations is very exciting."

Other than the variation to the Transaction, none of the information included in this announcement should be considered individually material.

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

Byte Power Group Limited (ASX:BPG) Annual Report

$
0
0
Byte Power Group Limited (ASX:BPG) provides the Company's Annual Report for the period ended 30 June 2018.

To view the Annual Report, please visit:
http://abnnewswire.net/lnk/B26ZU3DH

Michael Wee
Company Secretary
Byte Power Group Limited
T: +61-7-3620-1688
www.bytepowergroup.com

Draftstars Breaks Record for Fantasy Sports Prize Pool Offering in Australia

$
0
0
A record-breaking prize pool was paid out to more than 1600 savvy punters by Australia's biggest fantasy sports platform, Draftstars, following the conclusion of the AFL Grand Final. The final capped the biggest year in the platform's history, after being acquired earlier in the year by fellow Australian fantasy sports operator PlayUp.

Over 6500 fantasy team line-ups were entered into the competition, swelling the winnings paid out to over $112,000 in what some have touted one of the greatest grand finals ever.

First place went to JRod78 who took home over $10,000 after edging the nearest competition by two - accruing an indomitable 923 points.

JRod78 demonstrated prophetic abilities in his nine selections, which included superstar forward Josh Kennedy and Norm Smith medallist Luke Shuey. Winning goal kicker Dom Sheed rounded out the selections in what surely saw the punter over the line, providing a finish almost enthralling as the game itself.

The NRL Grand final also produced a huge cash prize pool of $30,000, with payouts going to 590 players. Cameron Smith and Josh Addo-Carr were the predictable heavy hitters as the top prize of over $3800 was scooped up with 420.45 points.

PlayUp CEO Daniel Simic said, "We have been trying to get the prize pools up to these levels for over four years and to finally see mass entries and a significant prize pool is extremely exciting,"

"We will continue to grow Draftstars and look to grow these prize pools to be even bigger for our Australian citizens-only contests."

The grand final contests were replicated on PlayUp's own free-to-play platform, where in an interesting twist, players are rewarded in PlayChips, the native virtual currency of the platform. The PlayChip was developed to cater to PlayUp's vastly growing global user base.

PlayChips currently hold a value of US$0.01, but in December will be converted into a cryptocurrency that can be traded on the Ethereum blockchain, as well as being accepted on PlayUp and several other online gaming platforms that make up the PlayChip Ecosystem. When combined, this ecosystem boasts over 1,000,000 users across 70 different countries.

A whopping ten million PlayChips (approx. AUD$140,000) was paid out to over 25,000 winners across both finals, indicating the international appeal Australian sports can carry when combined with a cryptocurrency-backed payment system.

"The global attention brought to Draftstars and PlayUp over the weekend was no coincidence," said Daniel Simic.

"The PlayChip has furthered our brands in ways we never imagined. It is clear that an effective global payment and rewards system is required to truly connect fantasy sport players on a global level."

"We believe that not only will the PlayChip continue to raise the global profile of our growing online gaming ecosystem, but of Australian sport as a whole."

The PlayChip is still in pre-sale with tokens available at http://www.playchip.global

About Draftstars

Draftstars was founded in 2015 to bring a world leading daily fantasy sports (DFS) platform to Australia. The Draftstars platform provides opportunities to wager on daily fantasy sports games spanning major local and international sporting codes such as the AFL, NRL, NBA and more.

About PlayChip

PlayChip is the Universal Gaming Token for sports betting, gaming, fantasy sports, and eSports, at the centre of an incentivised, blockchain-enabled sports community and gaming ecosystem. The PlayChip Ecosystem consists of seven independent partner platforms with more than a million users across over 70 countries. The PlayChip ecosystem is designed to be secure, scalable, simple to use, and fun, as well as include features to incorporate provable fairness into PlayChip transactions and the partnered gaming platforms, making it the gaming token of choice around the globe.

For more information, please visit: http://www.playchip.global/

or read the PlayChip Whitepaper: http://abnnewswire.net/lnk/26PCD747

Liam Kirby
PlayUp Content Manager
Liam.kirby@playup.com
M: +61-478-742-910

Rhinomed Limited (ASX:RNO) Signs 12-Year Licensing Agreement with America's Largest Medical Cannabis Operator - Columbia Care LLC

$
0
0
Melbourne based nasal respiratory company Rhinomed (ASX:RNO) (OTCMKTS:RHNMF) is pleased to advise investors it has signed a 12-year exclusive licensing agreement of its nasal platform technology with Columbia Care LLC, the largest and most experienced provider of cannabis-based products and services in the United States (U.S.).

KEY HIGHLIGHTS:

- Rhinomed signs 12-year exclusive licensing agreement with New York based Columbia Care LLC, the largest and most experienced manufacturer and provider of medical cannabis products and services in the United States.

- Agreement will leverage Rhinomed's patented nasal technology platform and Columbia Care's extensive medical cannabis research and development, manufacturing and distribution capabilities.

- Rhinomed will receive revenues from products on a cost plus double-digit return basis. Rhinomed will also share in net revenues on a double-digit percentage basis.

- Product development to commence immediately on multiple products with potential for product launches in CY 2019.

- The envisaged portfolio of reliable, dose-metered cannabis-based medicines administered nasally will include over the counter and clinical applications.

- Initial product offering to target significant unmet needs in a range of qualifying conditions and symptoms including Obstructive Sleep Apnea, PTSD, Pain relief, Anti-Nausea and other Sleep-related conditions.

- Product to be distributed through Columbia Care's multi-state network of dispensaries, other U.S. based cannabis dispensaries with potential expansion (subject to separate agreements), through Rhinomed's extensive 9000+ U.S. based pharmacy distribution network.

- This agreement with Columbia Care provides Rhinomed shareholders with exposure to the world's largest and fastest growing cannabis market - the U.S.A.

The exclusive agreement covers the license of Rhinomed's nasal platform for the delivery of medical cannabis and cannabinoid compounds, analogues and derivatives in the U.S. market.

The program will see Rhinomed's platform used to develop a range of unique nasally delivered cannabinoid products targeting a wide range of significant and unmet clinical and consumer health needs in the U.S.

The companies believe that nasally delivered, dose-metered, targeted medical cannabis formulations open up a new pathway and opportunity across a range of indications for this class of medication within the pharmaceutical and over-the-counter consumer health/wellness settings.

Financials

Under the terms of the agreement Rhinomed will optimise its platform for delivery of cannabinoid formulations and supply the customised product to Columbia Care. Columbia Care will manufacture and place specific pharmaceutical formulations onto the platform in its facilities in the U.S.

Rhinomed will retain all intellectual property rights to its drug delivery platform. Any new intellectual property developed from the collaboration will be owned by the party responsible for the invention. Intellectual property invented jointly by Rhinomed and Columbia Care will be jointly owned by both parties.

The agreed revenue model will see Rhinomed receive cost plus a double-digit royalty fee on a per product basis.

In addition, Rhinomed will also receive a further double-digit share of net profits that varies based on the retail channel - with a greater share for product sold through its retail channels.

Rhinomed notes that while it is too early to assess whether the impact of this deal will affect its 2019 revenues the company has been steadily working to unlock shareholder value by strategically opening up new industry verticals such as drug delivery, following the widespread and successful distribution and adoption of its Mute nasal stent product.

Rhinomed's platform technology

Rhinomed's patented nasal technology platform has broad application across a range of markets. The platform is protected by a family of over 60 patents, granted and pending, plus further design patents, brand and trademarks.

Rhinomed has successfully commercialized two variants in sport and exercise (Turbine) and primary snoring and nasal obstruction (Mute). Mute has already achieved wide user adoption and retail distribution in over 9000 retail outlets in the US alone. Tens of thousands of people across three continents are already using Rhinomed technology to breathe and sleep better.

Rhinomed's unique nasal platform has broad application across a range of opportunities including nasal drug delivery and consumer health. The company's Mute technology is used by people around the world to help them to breathe more, snore less and sleep better.

About Columbia Care

Columbia Care ( www.col-care.com ) is the ideal partner for Rhinomed in the US market. Columbia Care:

- Is a patient centered healthcare company setting the standard-of-care for medical marijuana.

- Is committed to four key pillars: safety, scientific leadership, excellence and expertise, and compassion and care.

- Is 100% vertically integrated in nearly all markets in which it operates ensuring strict quality standards are upheld during every step of the process, from cultivation to production to sale.

- Is a leader in product innovation using rigorous scientific techniques in collaboration with world renowned academic and medical institutions.

- Provides the highest-quality and most consistent cannabis-based medical and wellness products.

- Drives continuous improvements in products and services based on new clinical and scientific research and patient reported outcome data.

- Is the largest and most experienced provider of cannabis-based products and services, reaching more than half of the U.S. population and has delivered over 750,000 successful interactions since inception.

- Has highly-qualified professionals or licensed pharmacists, at every dispensary, who work with patients to develop individualized care plans.

- Puts patients first, including subsidizing low-cost care for qualifying patients including senior citizens, veterans, terminally ill and those with financial need.

Nicholas Vita, CEO of Columbia Care said, "We look forward to working with Rhinomed to expand our portfolio of high-quality and consistent medical cannabis products to include an additional delivery format. Columbia Care is committed to being at the forefront of product innovation and patient satisfaction in the medical cannabis industry, and our partnership with Rhinomed to develop these cutting-edge cannabis-based medicines is directly in line with that vision."

Michael Johnson CEO of Rhinomed said, " We are thrilled to have this long term agreement with Columbia Care. Columbia Care are setting the standard of care for medical marijuana in the USA and we are excited to begin working with them to develop and bring to market a game changing portfolio of medical cannabis products.

We believe that there is clear medical research support for, and a very real and significant commercial opportunity for nasal stents with medical cannabis formulations. Nasal delivery of cannabinoids opens up a new and exciting market opportunity and has the potential to set a new standard by providing a better and more reliable and repeatable dosing experience.

This agreement is an important step in validating the utility and value of Rhinomed's platform technology. This exciting new range of products will sit alongside and complement our existing portfolio. It is an important step in ensuring that Rhinomed technologies deliver on our mission of radically improving the way people breathe, sleep, take medication and maintain their health and wellness."

About Columbia Care

Columbia Care is the US's largest and most experienced manufacturer and provider of medical marijuana products and services. The Company is licensed in highly selective and regulated jurisdictions and has completed more than 750,000 successful patient interactions since its inception. Working in collaboration with some of the most renowned and innovative teaching hospitals and medical centers in the world, Columbia Care is a patientcentered healthcare company setting the standard for compassion, professionalism, quality, caring and innovation for a rapidly expanding new industry. For more information on Columbia Care, please visit http://www.col-care.com

Media Enquiries
Michael Johnson 
CEO & Managing Director
T: +61-3-8416-0900
E: mjohnson@rhinomed.global

DroneShield Ltd (ASX:DRO) Order for DroneGuns for Major Asian Governmental Agency

$
0
0
DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) ("DroneShield" or the "Company") is pleased to announce that its distributor GT&E has purchased two units of its DroneGun Tactical(TM) product, for use by a national security agency of a major Asian country allied with the United States, to be deployed by the agency for drone threat mitigation.

- DroneGun Tactical(TM) units purchased for use by a high profile Asian government agency.

- DroneShield beat the limited competition on a combination of effectiveness, productreadiness and affordability.

- First DroneGun Tactical(TM) sale in Asia.

It is understood that the end-user undertook an extensive review process benchmarking DroneShield's product against the limited range of competing solutions and, in the end, selected DroneShield's product based on a combination of its effectiveness, product readiness and affordability.

This is the first order for DroneGun Tactical(TM) in Asia. DroneShield has delivered the units.

Oleg Vornik, DroneShield's CEO, commented "While the revenue from this order to the overall DroneShield business is immaterial, we believe that this order is important in that it validates our global business model. DroneShield has built up a significant counterdrone track record in the region, including through a deployment of its counter-drone products at the 2018 Olympic Games earlier this year, and we look forward to continuing to build on this momentum."

To view figures, please visit:
http://abnnewswire.net/lnk/GURLR07W

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

Bluechiip Ltd (ASX:BCT) Raises $1.95M in Share Purchase Plan

$
0
0
Bluechiip Limited (Bluechiip or the Company) (ASX:BCT), a leader in the development of sample-tracking technology for harsh environments, is pleased to report the Share Purchase Plan (SPP) announced on 10 September 2018, closed on Friday 28 September 2018 and raised approximately $1.95 million.

The result of the SPP demonstrated strong interest from Bluechiip's existing shareholders and, together with the proceeds of the Placement completed on 14 September 2018, has raised a total of approximately $7.5 million before costs.

The issue price under the SPP is $0.059 per new share and Bluechiip will therefore issue 33,091,519 new ordinary shares to successful applicants. The shares issued under the SPP will rank equally with the Company's existing ordinary shares on issue. The shares to be issued as a result of the SPP are expected to be allotted on 4 October 2018. Quotation of the new shares is expected to occur on 5 October 2018.

Andrew McLellan, Bluechiip Managing Director & CEO, said, "The directors are delighted with the strong response from our loyal shareholders through their participation in the SPP. In conjunction with the Company's recent oversubscribed placement, Bluechiip has raised approximately $7.5 million and is now well funded to finalise its product portfolio, fully support our OEM partners' product release and to accelerate the opportunities and discussions we currently have in place."

Andrew McLellan
Managing Director / CEO
Bluechiip Limited
Ph: +61-457-823-470 
Email: andrew.mclellan@bluechiip.com

Media
Richard Allen
Ph: +61-3-9915-6341
Oxygen Financial PR

Deep Yellow Limited (ASX:DYL) New Discovery East of Tumas 1 Deposit Introducing Significant Additional Resource Upside

$
0
0
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) (Deep Yellow) is pleased to report on encouraging drilling results on EPL3497 where new continuous mineralisation has been identified in the Tumas 1 East palaeochannel area. Drilling was also conducted in the S-Bend channel area to the north which did not identify significant mineralisation. This EPL is held by Reptile Uranium Namibia (Pty) Ltd (RUN), part of the group of companies wholly owned by Deep Yellow.

HIGHLIGHTS

- Significant uranium mineralisation identified in untested Tumas 1 East tributary channel area with 67% of drilling returning >100ppm eU3O8 over 1m

o Drilling continuing with 95 holes for 1,199m completed

o 5-7m thick, near-surface continuous mineralisation open to east

- Best intersections include:

o TA004 8m at 351 ppm eU3O8 from surface

o TA026 8m at 335 ppm eU3O8 from surface

o TA028 5m at 1099 ppm eU3O8 from 2m

o TA029 6m at 541 ppm eU3O8 from 2m

o TA032 7m at 821 ppm eU3O8 from surface

o TA033 4m at 523 ppm eU3O8 from surface

o TA051 8m at 389 ppm eU3O8 from 2m

o TA060 12m at 412 ppm eU3O8 from 2m

- Mineralisation is calcrete associated hosted within palaeochannels, similar to the Langer Heinrich uranium mine located 30km to the north

As previously announced drilling programs commenced in July 2018 with semi-regional exploration drilling in the S-Bend Area. This regional program was completed at the end of August with 148 RC holes drilled for 2,171m. This was immediately followed by exploration drilling starting early September east of the Tumas 1 uranium deposit with 95 RC holes for 1,199m drilled for the month. The balance of the 10,000m campaign remaining to be drilled in the period to the end of 2018 is continuing. With the discovery of the newly identified mineralised channel at Tumas 1 East, work will focus in this area longer than originally anticipated before returning to resource drilling over the previously identified highly prospective western extension of Tumas 3. It appears two major prospective zones have been delineated which now require high priority attention. Figure 1 (see link below) shows the prospective paleochannel system outline and prospect locations.

Tumas East Drilling

Exploration drilling at Tumas East upstream of Tumas 1 is testing part of a three pronged tributary channel system draining into the main Tumas channel at Tumas 1. These are referred as Tails 1, 2 and 3.

To date a total of 95 holes for 1,199m was drilled in the area. Drill spacings varied from 50 to 100m along lines 200 to 800m apart. 64 of these holes returned positive results of more than 100 ppm eU3O8 over 1m. This reflects a 67% success rate. The average thickness of the mineralisation is close to 5m. The average grade of the 1m intersections >100ppm U3O8 is 340 ppm.

The drilling at the main tributary east of Tumas 1, named Tail 1 (Fig. 2) is at early stages and so far, has outlined a uraniferrous channel 3.5km in strike length showing continuous calcrete uranium mineralisation. The channel ranges from 200m to 900m in width. The mineralisation is located at shallow depth between 0 to 12m below surface. Except for localised hot spots large parts of this mineralisation do not show any surface radiometric expression.

The mineralisation remains open towards the east. Air photo and satellite image interpretation has identified further untested channels also to the south (Tails 2 and 3 on fig 2). Tail 2 was partially tested by extending two exploration drill lines. This identified uranium mineralisation >100ppm eU3O8 in 8 of 12 holes indicating the adjacent tributary also has the potential to host further calcrete-type uranium mineralisation. This adds an additional 16km of untested prospective palaeochannel to this target area.

Drill hole locations are shown in Figure 2 (see link below). Figures 3 and 4 (see link below) show adjacent drill cross-sections highlighting the continuity and thickness of the mineralisation. Figure 5 (see link below) shows a drill crosssection extending from the main tributary into one of the southern untested channels (Tail 2).

Equivalent uranium oxide (eU3O8) values as reported here have been determined by Deep Yellow personnel and these will be validated by a competent geophysicist for resource estimation purposes. The equivalent uranium values are based on down-hole radiometric gamma logging carried out by a fully calibrated Aus-Log gamma logging system.

The ongoing drilling will be aimed at defining the extent of the mineralised system at Tumas East first, before infill drilling for resource definition will start.

Mineralised intersections that are above the100ppm eU3O8 over 1m cut-off are tabulated in Table 1, Appendix 1 (see link below). All drill hole locations are listed in Table 3, Appendix 1 (see link below).

Semi-Regional Exploration Drilling S-Bend Area

Semi-regional exploration drilling at S-Bend was completed in August. Drilling was mainly aimed at testing surface radiometric anomalies over interpreted palaeochannels. Some drilling followed up previous encouraging results. A total of 148 holes for 2,171m was completed in this area. Drill hole spacing was highly variable ranging from 100 to 200m spaced holes along profiles 200 to 800m apart. Although the drilling confirmed the presence of a paleochannel system, no new continuous calcrete-type mineralisation could be identified in these channels.

Figure 6 (see link below) shows the exploration drill hole locations and the palaeochannel outlines in the S-Bend Area.

Mineralised intersections from the S-Bend drilling above >100 ppm eU3O8 over 1m cut-off are tabulated in Table 2, Appendix 1 (see link below).

All drill hole locations are listed in Table 3, Appendix 1 (see link below).

Analysis

The results of the ongoing exploration continue to be very encouraging. The current drilling has identified a new continuous zone of mineralisation associated with the eastern extension of Tumas 1 and remains open to the east. Importantly, new uranium mineralisation in the tributary paleochannel system in the Tumas East area has opened up the potential for further mineralisation in the south-adjacent Tails 2 and 3 tributaries.

The 2018 drill program is still ongoing focussing on extending the known mineralisation at Tumas 1 East. Drilling is demonstrating the potential to further extend the mineralisation. Testing for mineralisation in tributary channels entering the main channel from the south-east and north-east now becomes a priority for eventual upgrade of the overall resource base associated with these highly fertile palaeochannels. As previously shown, the uranium mineralisation is not confined to one simple, single channel but rather is associated with a complex palaeodrainage system containing several channels.

Appendix 1, Tables 1 and 2 (see link below) list the 64 exploration drill holes at Tumas East and 23 semiregional exploration drill holes from the S-Bend Area respectively returning uranium intersections above cut-off and showing equivalent uranium values in ppm and thickness with hole depth and coordinates provided. Table 3 in Appendix 1 (see link below) lists all drill holes completed to 30 September 2018 from the current drilling program which are the subject of this release.

Conclusion

This fourth (ongoing) drilling campaign is again producing successful results. It is confirming that the previously discovered deposits can be expanded. This is not only expected to add to the current uranium resource base of this project but, just as significantly, continues to emphasise the strong exploration potential of the extensive, uranium-fertile palaeochannel system within which the new Tumas Palaeochannel discoveries occur.

There are now 5 distinct mineralised zones (Tumas 1 & 2, Tumas 3, Tubas Sand/calcrete deposits and Tumas East) identified within the 125km of palaeochannels that occur within the Reptile Project tenements (see figure 1 in link below). Some 60%, or approximately 75 km, of this palaeochannel system which deepens to the west remains to be properly tested.

These positive results, both from the current and 2017 drilling and reinterpretation of historic exploration data, confirm management's confidence that the existing uranium resource base for Langer Heinrich style deposit/s within the Reptile project area can be further increased.

The current drilling program will continue throughout 2018 with infill resource drilling required for resource estimations as well as to define the extensive tributary palaeochannel system that exists at Tumas East.

An updated Inferred Resource estimation for the Tumas East Zone, in conjunction with Tumas 1&2, is expected to be delivered early 2019.

CEO Comment

John Borshoff commented: "Our work on the Reptile Project is again confirming the very high prospectively of the Tumas palaeochannel system that has been identified. The new zone of mineralisation that has been discovered adds significantly to the potential of these channels, which have all the hallmarks of a company maker in terms of achieving our previously stated resource target objectives."

To view tables and figures, please visit:
http://abnnewswire.net/lnk/1KKFDD67

John Borshoff
Managing Director/CEO
T: +61-8-9286-6999
Email: john.borshoff@deepyellow.com.au
www.deepyellow.com.au

Impact Minerals Limited (ASX:IPT) Trial Bulk Sampling Programme Completed at Blackridge Conglomerate-Hosted Gold Project Queensland

$
0
0
A first pass programme of bulk samples weighing about 8.5 tonnes in total has been collected from Impact Minerals Limited (ASX:IPT) (OTCMKTS:IPPTF) Blackridge conglomerate-hosted gold project located about 30 km north of Clermont in central Queensland (see Figures 1, 2 and 3 in link below).

- Approx 8.5 tonnes of samples collected covering the likely range of ore processing properties.

- Suitable samples to be wet processed within a month.

- Statutory requirements continue to progress for the purchase of ML2386 and for grant of Exploration Permits and Mining Lease Applications.

- Scientific research confirms gold mineralisation comprises hydrothermal fine gold as well as larger transported nuggets suggesting conventional resource calculations may be possible.

The samples have been collected at or near the gold-bearing contact (unconformity) between an upper younger unit of Permian conglomerates and a lower unit of schist, part of the older Anakie Metamorphic Group (see Figure 1 in link below).

The samples were chosen on the basis of the presence of gold nuggets discovered by prospectors and also for their rock mechanics properties to help determine likely processing routes for larger sampling programmes. Three main sample types have been identified: free digging samples; hard indurated (solid) rock; and clay-rich samples.

The majority of the samples comprise free digging material of friable conglomerate and it is evident that large volumes of this material are present on Impact's licences. These samples will be wet processed in a facility in Queensland within the next month. Further consideration will be given to the other sample types in due course.

Work by companies such as Novo Resources Corporation in the emerging conglomerate-hosted gold province of the Pilbara region of Western Australia, has shown that very large samples may need to be processed in order to overcome the signficant "nugget effect' that is a major factor in the exploration for this style of deposit. Impact has shown that the nugget effect was an important factor in previous exploration drilling at Blackridge (ASX Release May 29th 2018).

Impact's Blackridge project now includes one granted Mining Lease and four Mining Lease Applications, which, when the appropriate Plan of Operations and the Applications are approved, will allow the collection of very large samples and early trial mining if results warrant.

EVIDENCE FOR HYDROTHERMAL GOLD AT BLACKRIDGE

Previous exploration work by Denison Resources Limited (Herbert, 1989: Geology and Gold Potential, Blackridge, Clermont, Queensland #CR20347) which included extensive RC drilling, opening up of some of the underground workings, bulk testing, mineralogy, geochemistry and isotope analysis suggested that some of the gold at Blackridge may be related to a delicate interplay between sedimentary and hydrothermal processes.

A similar phenomenon has recently been proposed for some of the gold in conglomerates in the Pilbara (unpublished public presentation by researchers working for Novo Resources Corporation).

A detailed study of Blackridge was completed in the mid 1990's by researchers from James Cook University in Queensland who showed that some of the gold mineralisation had indeed been derived from hydrothermal fluids and were not transported nuggets. In particular it was documented that major faults and veins of iron carbonate (siderite) were closely associated with the gold and that the gold had been precipitated from hot fluids (Zhou et al Journal of Economic Geology Volume 89 pp 1469-1491).

This is an important factor in exploration for this style of deposit and a cornerstone to Impact's forward programme. In particular it suggests that the gold at Blackridge may have a more predictable distribution and allow resources and reserves to be calculated in a straightforward manner.

ABOUT THE BLACKRIDGE PROJECT

The Blackridge Project is an advanced conglomerate-hosted gold project that covers the historic Blackridge and Springs mining camps which produced about 185,000 ounces of gold from 1879 to the early 1900's from surface down to depths of about 70 metres in small shafts and related underground workings (see Figures 3 and 4 in link below).

Further discoveries were made in the Clermont region including the Springs field in the 1930's and the total production from conglomerates in the region is estimated by the Geological Survey of Queensland to be more than 300,000 ounces of gold (ASX Release May 29th 2018).

Impact's project covers 91 square kilometres and comprises one 100% owned Exploration Permit (E28806) and one Exploration Permit (E26066) and four Mining Lease applications (ML 100158, 59, 60 and 61) for which Impact has an option to buy 95% from Rock Solid Holdings Pty Limited (see Figures 4 and 5 in link below; ASX Release May 29th 2018).

In addittion, the project also includes the newly acquired Mining Lease ML2836 which lies in the centre of the project area (see Figure 4 in link below and ASX Release 31 August 2018)). The Mining Lease, which is fully granted, will be acquired from a local prospector for a cash payment of $30,000 and replacement of environmental bonds of approximately $7,000 and is subject only to Ministerial consent, expected within about four weeks.

The gold produced at Blackridge was mostly hosted in basal conglomerates of Permian-aged sedimentary basins which include the mined coal measures that unconformably overlie the Anakie metamorphic rocks of Middle Ordovician age and older (see Figures 4 and 5 in link below).

The unconformity between the conglomerates and underlying schist is present at surface over about 1,500 metres of trend at Blackridge. Much of the lease is covered by loose gravel with only a few outcrops of conglomerate and schist in places. This cover, within which small gold nuggets have been found by prospectors over many years, has hindered previous exploration and there has been no recent systematic exploration in the area.

Progress has also been made on the grant of the four MLA's under option from Rock Solid Holdings Pty Ltd as well as the Compensation Agreement with the landowner. Native Title negotiations are also underway. Work will commence on these Leases and the Exploration Licences as soon as these arrangements are completed.

To view figures, please visit:
http://abnnewswire.net/lnk/42N02634

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

MMJ PhytoTech Ltd (ASX:MMJ) Harvest One (CVE:HVT) Investment in Burb, Cannabis Retailer

$
0
0
MMJ PhytoTech Limited (ASX:MMJ) (OTCMKTS:MMJJF) ("MMJ") is pleased to attach a release by Harvest One Cannabis Inc. (CVE:HVT) ("Harvest One") announcing a significant minority investment in Burb Cannabis Corp ("Burb"), a privately-held cannabis retailer based in British Columbia, Canada.

MMJ is the largest shareholder in Harvest One with 53.333 million shares for an approximate 30% ownership stake.

To view the release, please visit:
http://abnnewswire.net/lnk/933004N4

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

Mustang Resources Ltd (ASX:MUS) Caula Testwork Delivers High Grade Vanadium Concentrates

$
0
0
Mustang Resources Ltd ("Mustang", the "Company") (ASX:MUS) (FRA:GGY) (OTCMKTS:MTTGF) is pleased to announce that preliminary vanadium testwork has produced outstanding recovery and concentrate results, from bench-scale metallurgical testwork, on ore from the Fresh Zone of the Caula Vanadium-Graphite Project in Mozambique. Through the integrated graphite and vanadium flowsheet, the testwork utilised Wet High Intensity Magnetic Separation (WHIMS) on composite samples, which resulted in a Cleaner Concentrate grade of 1.66% V2O5, with a recovery rate of 80.6%. Results were achieved from an overall feed grade of 0.401% V2O5, before graphite extraction. The Caula Project is located along strike from Syrah Resources' (ASX:SYR) world-class Balama graphite-vanadium project in Mozambique.

Key Points

- Preliminary metallurgical testwork focussed on vanadium recovery has produced outstanding results, through bench-scale Wet High Intensity Magnetic Separation (WHIMS), after extraction of graphite from the same feed material

- Preliminary WHIMS testwork on composite samples from the Fresh Zone has resulted in a Cleaner Concentrate grade of 1.66% V2O5 at a recovery rate of 80.6%. Results were achieved from an overall feed grade of 0.401% V2O5 before graphite extraction

- Combined Cleaner and Scavenger Concentrates from WHIMS resulted in a recovery rate of 90.8% with a concentrate grade of 1.42% V2O5

- These excellent preliminary vanadium metallurgical results from the WHIMS testwork further demonstrate the potential of combined vanadium and graphite extractions from the Caula Project

- Quantitative mineralogy studies are underway to investigate mineral associations in vanadium concentrate, with initial studies confirming micaceous nature of the concentrate

- Extraction process for vanadium hosted in mica and silicate minerals are significantly different from vanidiferous titanomagnetite (VTM) deposits

- Ongoing metallurgical testwork is aimed at improving vanadium recovery concentrate grades and recovering high-purity (>98% V2O5) vanadium pentoxide

- Caula Scoping Study nearing completion with report expected around 5 October 2018

Mustang Resources' Managing Director Dr. Bernard Olivier commented: "These preliminary vanadium concentration and recovery results achieved through a simple magnetic separation process (WHIMS) are truly outstanding. Concentration through a WHIMS process is highly economical compared with other concentration processes and requires no expensive nor complicated reagents. I urge investors to compare our exceptional preliminary concentrate grades of around 1.7% V2O5 and 81% recoveries with other vanadium-dedicated projects. Furthermore, our vanadium grades and recoveries are in addition to the exceptional grade and quality of graphite extracted from the same material."

The Caula Project is in the unique position of hosting both exceptional quality and high-grade graphite (up to ~99% TGC concentrates and 68% large to jumbo flake sizes) (see Note 1 below), in addition to high grade vanadium, within the shallow mineralisation of the same deposit. Magnetic separation testwork has been performed on fresh rock (Fresh Zone) samples at a nominal grind size and vanadium concentration bench-scale testwork was preliminary in nature, yet has already delivered exceptional results, which the Company considers could form the basis of a commercially viable operation.

The bench-scale metallurgical testwork was conducted on a composite diamond drillcore sample weighing approximately 62kg located in the Fresh Zone of drillhole number MODD018. The composite sample comprised diamond core with a down-hole depth of between 160m and 212m. Assay analyses of the composite returned a feed grade of 0.401% V2O5 and 16.0% TGC. The composite material was stage-ground in a laboratory rod mill to a nominal grind size of P100 0.50mm (500 microns m). The composite sample of fresh diamond drillcore was first subjected to a simplified rougher and cleaner graphite flotation procedure to recover the majority of the graphite.

The grade assay analysis of the combined graphite flotation tailings was 0.1% TGC, and 0.479% V2O5 and represents the feed grade of the vanadium concentration through the WHIMS process. The rougher and cleaner graphite flotation tails were then combined and ground to a nominal grind size of P80 to 0.050 mm (500 microns m).

A portion of the tailings from the graphite flotation was fed to a laboratory Wet High Intensity Magnetic Separation (WHIMS) with a field strength set at 1.2 Tesla (12,000 Gauss). The testwork procedure for vanadium recovery by WHIMS is shown in Figure 1 above (see link below). The concentrate from this run was then cleaned in a second pass through the separator to produce a cleaner concentrate. The tailings products were then combined and again fed through the WHIMS to produce a scavenger concentrate and a tailing.

Highlights of initial testwork include:

- The results of the rougher WHIMS followed by cleaner WHIMS achieved an 80.6% recovery to a concentrate grade of 1.66% V2O5.

- Scaveging the rougher and cleaner tailings delivered a further 10.2% recovery to a scavenger concentrate grade of 0.67% V2O5.

- Combining cleaner and scavenger concentrates gives an overall recovery of 90.8% to a combined concentrate grade of 1.42% V2O5 from this simple open circuit test.

- Results were achieved from an initial composite feed grade of 0.401% V2O5, prior to graphite extraction through flotation.

- A full-scale commercial circuit could employ more stages of cleaning and scavenging, and intermediate products such as cleaner tailings and scavenger concentrates could be recycled to achieve improved concentrate grades and recoveries.

- This initial testwork has shown that high vanadium concentrate grades and recoveries can be achieved from the tailings of the graphite flotation process through the WHIMS process.

- Quantitative mineralogy studies are underway to investigate mineral associations in vanadium concentrate, with the initial results confirming the micaceous nature of the concentrate.

Further Testwork

The Company is progressing with additional testwork which will produce a bulk sample of high-grade graphite concentrate for evaluation of downstream processing characteristics. Tailings from this graphite flotation work will be used in additional vanadium concentrate recovery tests, including testing of the weathered and oxidised material.

Quantitative mineralogy studies are also underway to investigate mineral associations in vanadium concentrate with initial studies confirming micaceous nature of the concentrate. The extraction process for vanadium from mica is significantly different to vanadium extraction from vanidiferous titanomagnetite magnetites (VTM). The vanadium extraction process from micas, has closer parallels to the processes associated with lithium extraction from micas and clay minerals.

One example of Lithium extraction from a micaceous concentrate typically involved concentration of zinnwaldite (lithium mica) through a WHIMS process(see Note 2 below). The concentrate is then roasted at 850 deg C with sodium sulphate to break the mica crystal structure. The roasted product is then leached with hot water to recover the lithium into solution. This type of roasting is quite different to conventional VTM concentrate processing where higher temperatures (e.g. 1,150 deg C) are required and where SiO2 causes problems with roasting. Another example of lithium recovery from a clay mineral involves roasting the ore with calcium sulfate to make the lithium amenable to hot water leaching(see Note 3 below).

The Company aims to conduct metallurgical tests including bench-scale roasting and leaching testwork to produce vanadium pentoxide with a minimum 98.5% purity.

Vanadium recovery from vanidiferous micas, including Roscoelite is well documented and a number of extraction processes have been established. One example involved roasting a micaceous ore at 850 deg C with an addition of 3 to 5% of calcium sulfate(see Note 4 below). This was followed by vanadium dissolution by a carbonate/bicarbonate leach.

All the current and planned testwork is geared towards optimising the beneficiation process and establish a robust, low-cost flowsheet for both graphite and vanadium extraction as well as vanadium downstream beneficiation.

Notes:

1 Refer to ASX Announcement dated 25 June 2018

2 Refer to ASX announcement by European Metals Holdings Limited dated 28 March 2018

3 Refer to TSX announcement of Western Lithium (TSX:WLC) Limited dated 27 January 2012

4 Refer to article entitled: "Effect of Roasting on Recovery of Uranium and Vanadium from Carnotite Ores by Carbonate Leaching, by J. Halpern, F. A. Forward, and A. H. Ross Transactions AIME, October 1957, Mining, P1129 to 1134)

To view figures, please visit:
http://abnnewswire.net/lnk/S6Q2A9P7

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

Media & Investor Relations: 
Jane Morgan Management
Jane Morgan
E: jm@janemorganmanagement.com.au
T: +61-405-555-618

Central Petroleum Limited (ASX:CTP) Company Update on Gas Acceleration Programme

$
0
0
Central Petroleum Limited (ASX:CTP) ("Company" or "Central") today announces an update on the Gas Acceleration Programme ("GAP"). The GAP has an objective of maximising gas sales into the east coast market following connection via the Northern Gas Pipeline ("NGP") scheduled for commencement in December 2018. This is step change in the Company's financial position as gas sales under contract will nearly triple from current levels in just a few months. Not only does this create value from producing assets that were purchased only a few years ago, but it also provides the Company with significant financial flexibility as we seek to create new value through our exploration and business development activity.

The Company has completed a comprehensive review of the GAP driven by:

- Recent management changes (new Acting CEO, new COO, new CCO).

- Completion of front-end engineering and design (FEED) for the Palm Valley facility restart project.

- Independent reviews in several areas of the business, including Palm Valley sub-surface modelling and field deliverability forecasts and funding alternatives.

- Enhanced project planning processes, including additional contingency provisions and risk mitigation strategies.

As a result of this review the estimated total cost of the GAP is forecast to increase by $11.5 million (inclusive of additional contingency available for Palm Valley field performance). These cost increases relate to both facility projects at Mereenie and Palm Valley and the Palm Valley 13 appraisal well. Importantly, this review provides for a heightened level of planning confidence and risk mitigation going forward.

The Company has also decided to defer the planned drilling of the Ooraminna 3 appraisal well to 2019. This timing provides an opportunity to optimise the Ooraminna appraisal well following West Mereenie 26 results (mineralisation) and pending the Palm Valley 13 results. In addition, it prioritises currently available capital toward those GAP projects that will maximise gas sales immediately on commencement of the NGP. We anticipate that increased operational free cash flow is expected to be available for a deferred Ooraminna appraisal well from 2019.

The GAP cost increases identified above, net of savings associated with a deferral of the Ooraminna appraisal well, can be funded through a $7.5 million increased debt facility with Macquarie Bank (subject to satisfaction of usual conditions precedent).

Whilst the GAP costs have increased from the original scope and estimate last year, we are achieving the objective of maximising gas sales into the east coast market on commencement of the NGP in December. As a brownfield project, the economics of the GAP remain robust and highly value accretive for the Company.

The attached Company Update (see link below) provides additional detail on the above, including a summary overview of the 2018 annual results.

To view the Company Update, please visit:
http://abnnewswire.net/lnk/E6K955LR

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
Helen McCrombie at Citadel-MAGNUS
T: +61-2-8234-0103
M: +61-411-756-248

Environmental Clean Technologies Ltd (ASX:ECT) Global Steel Innovations Forum Presentation

$
0
0
Environmental Clean Technologies Limited (ASX:ECT) (ECT or Company) presented its Matmor technology at the Global Steel Innovations Forum, held in Dubai last week.

Key takeaways:

- Largest-ever R&D collaboration between Australia and India

- Matmor is the only lignite-based iron making technology in the world, eliminating the cost of both thermal and coking coal used in other processes

- Matmor utilises iron ore fines, utilising this lower-priced resource

- Addresses 8/10 of India's strategic, high priority steel industry research targets

- Potential for significantly better return on investment (ROI) potential vs. blast furnace and coalbased DRI kilns

- Ideally placed to support India's 200 million tonne steel capacity growth ambitions by 2030

Attracting over 500 steel industry delegates from around the world, the Global Steel Innovation Forum provided a platform to showcase disruptive and cutting-edge technological innovations in the steel and associated sectors, targeted at delivering improvements in operational efficiency, cost-effectiveness and emissions profiles to drive industry processes to the next level.

Last week (Wednesday 26 September 2018), ECT India Chairman-Managing Director, Mr Ashley Moore presented the Company's Matmor technology to an audience comprised of steel industry delegates from around the world.

Co-presenting with Ashley was Ms Aditi Tarafdar, the highly regarded Technical Director and Head of Process Metallurgy at MN Dastur.

The presentation stood out at the event as the world's first and only lignite-based primary iron making process, highlighting the features and benefits associated with decoupling the steelmaking process from expensive metallurgical coal and premium grade lump iron ore and other high-cost inputs such as premium grade non-coking coal and natural gas.

For the technically minded, the Matmor process relies on a unique chemical pathway involving the in-situ gasification and catalytic thermal decomposition of hydrocarbons to drive a hydrogen-based reduction reaction at low (
For the layman, this means iron ore is reduced to iron at a lower temperature, using cheaper, alternative raw materials. Lower temperatures mean the plant can be made of 'lighter' materials, reducing the capital intensity. The use of cheaper, alternative raw materials decouples the iron making process from expensive coking coal and premium grade lump iron ore.

Ms Tarafdar provided an overview of how MN Dastur and ECT have approached the development of the technologies, including the techno-economic feasibility study, the basic engineering and design process and the underlying process chemistry.

Of key interest to delegates was slide 27:(see link below)

Ms Tarafdar highlighted the compelling business case for the Matmor technology, noting the table on the left (see link below) shows the projected return on investment (ROI) based on 2015-16 prices for coal and iron ore, running at 160% of blast furnace returns, despite the historic low prices for coking coal at that time.

The table on the right (see link below) is updated to reflect the current higher coal, iron ore and steel pricing. The result is an improved level of economic superiority for the Matmor process compared to the original economic analysis, driving the case for project acceleration.

Following the presentation Mr Moore was approached by a range of delegates interested in discussing the adoption of the Company's technologies following successful completion of the research and development (R&D) phase, establishing qualified interest from substantial parties.

The ~AUD35 million R&D project in India seeks to establish an integrated Coldry and Matmor pilot plant capable of supporting the design scale-up to commercial size, de-risking investment for future production plants.

The presentation included a brief animated 'flythrough' of the project, which may be viewed on the Company's website - http://www.ectltd.com.au

To view tables, figures and the presentation, please visit:
http://abnnewswire.net/lnk/8SLKI645

Glenn Fozard
Chairman
Environmental Clean Technologies Ltd
E: info@ectltd.com.au
WWW: www.ectltd.com.au
Viewing all 12684 articles
Browse latest View live




Latest Images