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Asia Business News

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    Central Petroleum Limited (ASX:CTP) provides the Company's latest presentation.

    What we've made possible -a big year

    - Drilled West Mereenie26 & Palm Valley 13

    - Refurbished & restarted Palm Valley gas field

    - On-track to deliver facility expansion at Mereenie

    - LTI free to date

    Cutting edge drilling at PV13

    - Reservoir section drilled underbalanced with air

    - 1000m vertical section then kick-off into horizontal section

    - 30,000 psi formation strength and extremely abrasive

    - Sensitive regulatory and community landscape

    - Remote & rugged terrain

    - Flowed 13.6mmscfd on test

    - Tie-in project underway

    To view the full presentation, please visit:

    Central Petroleum Limited
    T: +61-7-3181-3800
    F: +61-7-3181-3855
    Media Enquiries
    Helen McCrombie at Citadel-MAGNUS
    T: +61-2-8234-0103
    M: +61-411-756-248

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    Collaborate Corporation Limited (ASX:CL8) is pleased to release a copy of the AGM Investor Presentation to be provided by Mr Chris Noone to shareholders at the Annual General Meeting to be held in Sydney commencing at 3:00 pm AEDT today. The AGM Investor Presentation will focus on the strategy and initiatives of the group.

    To view the presentation, please visit:

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

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    Tesserent Ltd (ASX:TNT) has provided a market update as its acquisition of Asta Solutions Pty Ltd ('Asta') nears completion. Highlights of the announcement include the following.

    - Due diligence and execution of contracts for Asta acquisition complete.

    - Tesserent/Asta consolidated pro-forma revenue and other income = $18 million for FY18.

    - Active customer base increased from circa 200 to 350+.

    - Shareholder approval to conclude transaction sought in December 2018.

    Analyst comments: this announcement confirms not only that the Asta acquisition remains on track for completion before year's end but also that the group's combined revenue during the 2018 financial year amounted to $18 million. This figure, which exceeds our previous estimate by around $2 million, is also $6 million more than the company's current market capitalisation (post transaction - $12 million).

    In other words, Tesserent is currently trading at a revenue multiple of less than 0.7x, which is extremely low given that it operates in a rapidly growing sector.

    We highlighted this in our review of other ASX-listed small cap tech stocks that generate revenue - all trade at a significantly higher multiple than Tesserent.

    Increasing sales more ways than one

    Although Tesserent has been focused on finalising the Asta transaction, it appears the two companies may already be working together, given the significant rise in sales this year (239% increase YoY September 2018 quarter).

    This may be due not just to the expanded product offering (diversified IT solutions as well as Internet Security-as-a-Service, although the latter remains the core competency) and a move into more innovative sectors (viz recent agreements with major artificial intelligence and blockchain groups) but also to an expansion into overseas markets.

    We expect this trend to continue once the Asta transaction is finalised; indeed, the March quarter will be telling in that it represents the first chance to assess the group's performance in terms of combined revenue and profit.

    Valuation: we value Tesserent at $0.27 / share (share price $0.07 / share). For more details of our analysis, watch the video.

    To view the video, please visit:

    Adam Kiley
    TSI Capital Pty Ltd

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    Intermin Resources Limited (ASX:IRC) ("Intermin" or "the Company") is pleased to advise that the divestment of Intermin's interest in the Lehmann's Well Gold Joint Venture has been completed.

    As announced to the ASX on 7 November 2018, the Company agreed to terminate the joint venture and Intermin has agreed to divest its 100% interest in the exploration license to Saracen on the following terms:

    - Payment to Intermin of A$250,000 in cash on execution.

    - Payment to Intermin of A$2.25 million in cash on completion.

    - A 2.5% Net Smelter Royalty that is payable by Saracen once Saracen has produced 42,000 ounces of gold from the transaction tenements, and ending once Saracen has produced 100,000 ounces from the transaction tenements.

    - Intermin and Saracen to be released from any rights and obligations under the joint venture agreement.

    All condition precedent including provision of signed transfers, all mining information and statutory consents have now been completed and the final payment of A$2.25 million received from Saracen.

    Jon Price 
    Managing Director
    Tel: +61-8-9386-9534
    Michael Vaughan
    Media Relations - Fivemark Partners
    Tel: +61-422-602-720

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    The past 12 months have been transformational for Ardiden (ASX:ADV) as we successfully advanced our flagship projects in North America. However, it has been an extremely challenging period for the lithium sector as global equity markets, wider macro issues, and a weaker local investment market have created a tough landscape for junior companies. We have not been immune to these conditions. Regardless of the difficult environment, we have stayed true to the strategy we outlined at the 2017 AGM and continue to focus on four primary objectives:

    (i) Targeting institutional shareholder support and capital

    (ii) Expanded drilling at the Seymour Lake Lithium Project in Ontario, Canada

    (iii) Undertaking Due Diligence on the Pickle Lake Gold Project in Ontario, Canada, and

    (iv) Strengthening the Board with technical expertise.

    We have made progress on all these fronts.

    To that end, key achievements during 2018 include:

    - Engagement of Canaccord Genuity as Corporate Advisor to Ardiden.

    - Fully underwritten equity placement in May 2018 raising $6.1m with institutional shareholders Regal Funds Management, Tribecca Investment Partners and Terra Capital participating as substantial shareholders.

    - Resource expansion drilling at the North Aubry Lithium Deposit at Seymour Lake under new geological technical guidance led by pegmatite expert Mr Peter Spitalny.

    - Outstanding results from testwork production of high purity battery-grade lithium carbonate from Seymour Lake bulk samples of lithium concentrate conducted by Shandong Ruifu in China.

    - Expansion of Seymour Lake Lithium Project by acquiring additional tenements which have secured direct access to Ferland Station situated on the trans-continental Canadian railway and provided additional exploration targets.

    - Completion of due diligence drilling on target zones at the Pickle Lake Gold Project in Ontario, Canada, which ultimately satisfied the key conditions precedent to advance exercising the option to acquire 100% of the Pickle Lake Gold Project.

    - Appointment of Exploration Geologist Mr Peter Spitalny, an expert on pegmatites and highly experienced with gold, as a Non-Executive Director.

    - Appointment of experienced lithium project development director Ms Pauline Gately as Non-Executive Director. Pauline is the current Chairman of Alliance Minerals with eight years' experience developing the Bald Hill Lithium Joint Venture with Tawana Minerals Ltd.

    We are proud of our accomplishments over the past 12 months. We share your frustration that they are not reflected in our share price. Global commodity prices for lithium concentrate have been under pressure, impacting equity prices for lithium explorers. We are confident that the demand for quality product will continue as the global EV evolution gains momentum and believe we are well placed to benefit due to our significant product quality within a Tier 1 mining jurisdiction.

    In conclusion, I would like to thank our management team for their efforts and continued enthusiasm for our projects and my fellow directors for their ongoing commitment. Most importantly, I would like to thank our fellow shareholders. We do not believe the current market capitalisation reflects anything like a fair valuation of our Company, and I can assure you we are focused on building Ardiden into a company that creates long-term shareholder value.

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

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    As announced on 25 June 2018, MMJ Group Holdings Limited (ASX:MMJ) (OTCMKTS:MMJJF) (Company) entered into a binding share sale agreement (SSA) pursuant to which it conditionally agreed to sell its wholly-owned subsidiary PhytoTech Therapeutics Ltd (PTL) to Harvest One Cannabis Inc. (CVE:HVT) (HVT) for total consideration of CAD$8 million (Disposal).

    The Company is pleased to advise all conditions precedent to the Disposal of PTL have been satisfied and the Disposal has been successfully completed.

    In accordance with the SSA, as consideration for the Disposal, HVT has:

    (a) paid CAD$1,000,000 in cash; and

    (b) issued 8,326,695 fully paid ordinary shares in HVT (HVT Shares),
    (together, Disposal Consideration).

    The number of HVT Shares issued was calculated using the 10-day volume weighted average price of HVT Shares as at 11 October 2018 (VWAP), being CAD$0.84067 (CAD$7,000,000 worth of HVT Shares),

    In order to satisfy outstanding obligations under PTL's Yissum Research and License Agreement, the Company nominated for 2% of the Disposal Consideration to be provided to nominees of Yissum Research Development Company of the Hebrew University of Jerusalem Ltd (Yissum). Accordingly, Yissum received CAD$20,000 in cash and 166,534 of the HVT Shares. The Company retained the remainder of the Disposal Consideration being $980,000 and 8,160,161 HVT Shares.

    Change of company name

    The Company has also now changed its name from MMJ PhytoTech Limited to MMJ Group Holdings Limited and upon being readmitted to quotation on the ASX its shares will continue to trade under the ASX ticker code "MMJ".

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

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    Jason Conroy was appointed as Chief Executive Officer (CEO) of MMJ Group Holdings Limited (ASX:MMJ) (OTCMKTS:MMJJF) (Company or MMJ) in February 2018.

    Jason is responsible for managing the business of the Company, implementing strategic and tactical plans and managing operational functions to achieve the Company's goals and outcomes. Jason is responsible for the investment management operations of MMJ including sourcing, executing and managing MMJ's investments.

    In his role as CEO, Jason identifies potential high-quality investments which may be undertaken by MMJ to advance the business, increase investment gains and further build MMJ's portfolio. In identifying these investments, Jason makes several enquires (including engaging external advisers, where necessary, and meeting with the management teams of each potential investment) to understand the potential success, risk and operation of each potential investment to consider whether the direction of the investment is consistent with the overall strategy and mission of MMJ. Following such due diligence, Jason recommends the investment opportunity to the MMJ board. In addition, Jason builds global relations with key partners and serves as a point of contact for MMJ's shareholders.

    Prior to joining MMJ, Jason was CFO of DUET Group, a former member of the ASX100, for 9 years to May 2017. As part of this role, he led a significant transformation through merger and acquisitions, recapitalisations and restructuring that resulted in DUET's market capitalisation growing from $1.2 billion in 2009 to $7.4 billion in 2017, at which time the group was acquired at an attractive premium. Jason has also gained experience from roles in restructuring, advisory, venture capital, corporate development and corporate finance in Australia and overseas. He holds a Bachelor of Commerce (Accounting), a Master of Business Administration (MBA), is a Fellow of Chartered Accountants Australia and New Zealand (FCA) and a member of the Australian Institute of Company Directors (MAICD).

    As result of his previous senior executive experience and track record, the MMJ board is confident in Jason's ability to source, execute and manage investments for the growth and success of MMJ.

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

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    Ardiden Ltd (ASX:ADV) provides the Company's 2018 AGM Presentation.


    - Ardiden continues to successfully explore and develop the Seymour Lake Lithium Project

    - Significant milestones achieved in 2018, with a primary focus on advancing Seymour Lake with the main aim of moving towards development and production

    - Continued exploration success via resource expansion and exploration drilling, including the following significant results:

    o ASD001:10.29m* @ 1.07% Li2O from 78.78m

    o ASD004: 21.85m* @ 0.99% Li2O from 173.64m (including 8.72m* @ 2.42% Li2O from 178.00m)

    o ASD005: 26.9m* @ 1.58% Li2O from 188.00m (including 9.05m* @ 2.88% Li2O from 203.95m) (including 1.00m @ 4.45% Li2O from 211m)

    o ASD010: 23.98m @ 1.54% Li2O from 212.10m; (Including 0.55m @ 5.67% Li2O from 214.75m); and

    o ASD011: 37.61m @ 1.95% Li2O from 224.92m

    - Results underpin significant potential of Seymour Lake (2km drilled tested of 7 km strike zone)

    - Board strengthened by appointment of Non-Executive Directors, Mr Peter Spitalny and Ms Pauline Gately

    - Ardiden welcomes supportive and well-known institutions via successful $6m equity raising completed in May

    - The acquisition of Pickle Lake provides Ardiden with a highly-prospective gold asset, diversifying Canadian project portfolio

    To view the full presentation, please visit:

    Brad Boyle
    Ardiden Ltd 
    Tel: +61-8-6245-2050
    Michael Weir / Cameron Gilenko
    Tel: +61-8-6163-4903

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    White Rock Minerals (ASX:WRM) ("White Rock") is pleased to announce that it has more than tripled the area of its highly prospective 100% owned Red Mountain high-grade zinc - silver - lead - gold - copper volcanogenic massive sulphide ("VMS") Project in Alaska through the staking of an additional 524 new State of Alaska Mining Claims and Mineral Locations.

    The expansion of its tenement package follows a successful first year of field activities for White Rock where drilling intersected multiple high grade intervals of zinc-silver-lead-gold-copper mineralisation at Dry Creek, West Tundra and the newly discovered Hunter prospect (ASX Announcements dated 18 June 2018, 4 July 2018 and 20 August 2018). With some drill hole results returning in excess of 17% zinc, 6% lead, 1,000 g/t silver, 6 g/t gold and 1.5% copper, the 2018 field season also saw three reconnaissance crews out in the field mapping and sampling. The culmination of this work has encouraged White Rock to expand its strategic tenement holding to take in more of what has been identified as a highly prospective geological setting.

    White Rock moved to secure the additional prospective areas in consultation with its strategic partner, Sandfire Resources NL ("Sandfire"). Earlier in the year, and encouraged by what White Rock was doing, Sandfire signed an agreement providing equity funding to assist White Rock to continue to explore the Red Mountain project during 2018, with an option to enter into an earn-in JV by the end of this year (ASX Announcement dated 11 July 2018).

    The majority of the expanded tenement area forms a contiguous block of mining claims that now extend the Red Mountain project over a larger area of the Bonnifield Mining district, to the west along strike and south into the prospective footwall stratigraphy identified as containing multiple VMS prospective time horizons. The new claim areas will allow White Rock to systematically explore what is now held to be a highly prospective regional stratigraphic setting capable of hosting multiple high grade zinc-rich polymetallic VMS deposits.

    White Rock has also staked claims over a number of additional VMS mineral occurrences including at Anderson Mountain, Virginia Creek, West Fork, Peaches, Keevy Peak, Kenny, Sheep Creek and Surprise Creek. These prospects have been the subject of past exploration with VMS characteristics identified from mapping, rock chip sampling and in some cases drilling. Results by previous explorers are summarised below.

    The Red Mountain project now comprises 754 State of Alaska Mining Claims and Mineral Locations, with the total area now controlled totalling 475km2.

    CEO Matt Gill said "Our successful first year of exploration on the ground at Red Mountain and the subsequent attraction of our strategic partner Sandfire has allowed White Rock to enact a much broader exploration and discovery vision by securing what we believe to be a regionally extensive and highly prospective land package. Field work has confirmed the regional prospectivity through our discovery this year of outcropping massive sulphide mineralisation at the Hunter prospect. Further validation of the regions prospectivity is evidenced by the extensive alteration and multiple VMS time horizons identified through field reconnaissance of targets developed from earlier desktop studies. White Rock envisages that an aggressive systematic multi-pronged exploration program will rapidly yield the discoveries required to advance the Bonnifield district towards a new VMS development project."

    Anderson Mountain

    The Anderson Mountain prospect was discovered in 1975 by Resource Associates of Alaska Corp ("RAA"), Getty Mining Company ("Getty") and Phelps Dodge Corporation ("Phelps Dodge"). Two of three drillholes intersected significant mineralisation AM-76-2 intersecting 1.7m @ 8.5% Zn, 2.1% Pb, 61g/t Ag and 1.2% Cu from 60.4m and AM-76-3 intersecting 0.6m @ 22.0% Zn, 4.8% Pb, 161g/t Ag and 0.6% Cu from 42.0m (Corner et al, 1977). Massive sulphide zones extend for 1,200 metres SW-NE and are hosted by black graphitic argillites within a Devonian sequence of metasedimentary and metavolcanic rocks (Dusel-Bacon et al., 2012). Nokleberg et al. (1994) document massive sulphide layers up to 3m thick with assays up to 22% Zn, 5% Pb, 170g/t Ag and 19% Cu.

    The most recent work known is by Grayd Resources Corp. ("Grayd") in 1998 when they were also active at Red Mountain. Grayd drilled a further 10 drill holes with the highlight from AM-98-6 that intersected 0.9m @ 16% Zn, 5% Pb, 102g/t Ag, 0.8g/t Au & 0.4% Cu from 42.4m (Dreschler et al., 1998).

    Virginia Creek

    The Virginia Creek prospect was also discovered by RAA, Getty and Phelps Dodge in 1975. Records indicate that four of 6 drill holes successfully intersected sulphide mineralisation along 300m of strike within 45m of surface, with the highlight from VC-2 intersecting 14.8m @ 3.3% Zn, 0.8% Pb, 78g/t Ag, 0.2g/t Au & 0.5% Cu (Corner et al, 1977).

    Sheep Creek - Surprise Creek

    The Sheep Creek prospect (also known as the Last Chance or Gossan Peak prospect) was also discovered in 1975 by RAA, Getty & Phelps Dodge. The discovery exposure at Gossan Peak extends over 200m of strike and is up to 100m wide with anomalous prospect sites defining a 3km long east-west target horizon (Senter, 1979).

    Mineralisation at Sheep-Surprise is distinct from the other VMS prospects in the district as it is sediment-hosted with no clear volcanic affinity, and having significant concentrations of tin (Sn) and indium (In) (Gaard, 1982). Nokleberg et al. (1994) document selected samples up to 11% combined Zn & Pb, 10g/t Ag and 1% Sn from massive sulphide lenses within more broadly disseminated sphalerite-galena-cassiterite (zinc-lead-tin) stratabound mineralisation hosted by siliceous sediments. Records indicate at least 3 drill holes were completed during 1977-79.


    The Cirque prospect was also discovered in 1976 by RAA, Getty and Phelps Dodge. Massive sulphide float blocks up to 2 metres thick occur within 300m of mineralised calc-schist and carbonate outcrop. Assays for 18 samples averaged 5.6% Zn, 1.7% Pb, 49g/t Ag & 0.5% Cu (Corner et al., 1978).

    West Fork

    The West Fork prospect was also discovered in 1976 by RAA, Getty and Phelps Dodge and further explored by Grayd in 1998. Massive sulphide mineralisation at surface returned rock chip assay results up to 12.3% Zn, 5.4% Pb, 93g/t Ag & 1.4% Cu, with a footwall of gossanous felsic metavolcanics delineated by a 1200m Cu- Pb-Zn-Ag soil geochemical anomaly that trends E-W (Baxter, 1998).


    The Peaches prospect was also discovered in 1976 by RAA, Getty and Phelps Dodge and further explored by Grayd from 1996-1998. Surface rock chip sampling assayed 6.9% Zn, 6.3% Pb, 88g/t Ag, 1.2g/t Au & 0.1% Cu (Baxter, 1998).

    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 Group Holdings Ltd (ASX:MMJ) (OTCMKTS:MMJJF) provides the Company's latest investor presentation.

    - Portfolio currently focused on North America

    o Recreational cannabis sales were legalised in Canada in October 2018

    - North American target markets are attractive

    o Large markets for recreational cannabis and hemp-derived CBD products

    - Portfolio company leadership is impressive

    o Experienced and highly motivated senior executives with strong track records

    - Investments sit across most of the value chain

    o Capital is allocated to potential market leaders, consolidators and takeover targets

    - Capital allocation is actively managed

    o Currently skewed to cannabis brands and extraction facilities

    - Outlook is positive

    o Significant developments are expected across the portfolio

    To view the presentation, please visit:

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

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    PlayChip, the Universal Gaming Token, has announced its decision to forego its public token sale after entering a number of strategic business partnerships, as well as incentivising token utilisation amongst its active user base.

    The announcement comes days before the highly-anticipated sale which was to offer supporters their last chance to purchase tokens prior to exchange listing. The majority of the token offering funds raise has come from over 3000 individual and corporate participants, in addition to the formation of key strategic partnerships, mergers and acquisitions, (including the acquisition of 123gaming earlier this year), and a number of high profile sponsorship deals and brand ambassador endorsements, many of which have yet to be announced.

    In a welcome and surprise announcement, the PlayChip Foundation has elected to reward the remaining unallocated PlayChips to its most active platform users. Previously, unallocated PlayChips were to be held in cold storage and repurposed after a long lock in. All unallocated tokens will be evenly distributed to the first 500,000 users who complete KYC and AML verification and satisfy simple T&Cs.

    "This initiative is significant because we are rewarding and incentivising current and future users of our platforms," said PlayChip Foundation Chairman, Daniel Simic. "We have an established and committed community who are already using our products. Rather than burning our valuable currency, or storing for later use, we have chosen to reward active users."

    The annulment of the public sale comes in light of establishing key strategic partnerships throughout the USA, Europe, and Asia where fellow gaming organisations have been encouraged by the existing ecosystem and functionality of the token.

    "This is great news to our token holders, as it allows us to focus on the delivery of the PlayChip into a dynamic and expanding ecosystem," said Mr Simic. "Growing this ecosystem, and thus the utility of the PlayChip, is the single most valuable task we can deliver for our token holders."

    The close of the sale reflects the strong showing of PlayChip in what has been a tough quarter for token sales. ICO Funding fell by 48% according to the Q3 Review from rating agency ICO Rating, with over half of the sales failing to raise $100,000, and only 4% listing on exchanges.

    The current crypto bear market highlights a lack of enthusiasm for traditional ICOs as participants have become unwilling to commit resources towards a white paper and development roadmap. Just 10% of Q3 projects had an MVP (minimum viable product), with under 2% with a fully functional product. The emergence of the reverse ICO is set to define the next wave of successful blockchain projects.

    PlayChip is also in the unique situation of being attached to an industry-leading reverse ICO and a subsequent reverse IPO, via its first ecosystem partner, PlayUp. As announced in April, 2018, PlayUp is seeking a dual listing on the NASDAQ and Australian Stock Exchange via reverse take over of New Mission Energy (ASX:MBT) (OTCMKTS:MNELF).

    The Public Token Offering is now officially closed.

    For more information please visit

    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:

    or read the PlayChip Whitepaper:

    Liam Kirby
    PlayUp Content Manager
    M: +61-478-742-910

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    Argent Minerals Limited (ASX:ARD) is pleased to report that the New Options subscribed for by shareholders under the Entitlements Issue and reported in the 3B dated 20 November are now quoted on the ASX under the ticker ARDOA.

    The new options have an exercise price of $0.05 each and are exercisable at any time on or before 5.00pm (AEST) on 29 October 2021 (New Options).

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

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    State Gas Limited (ASX:GAS) provides the Company's Chairman address to the Annual General Meeting.

    Welcome to our Company's first AGM since listing on the ASX in October last year.

    As you will be aware, we conducted our IPO last year to raise the funds to explore and appraise the PL 231 permit area as sole Operator and 60% holder of the Permit.

    Soon after listing last year, we successfully flow-tested the existing suitable wells within the Permit area and took gas samples for analysis.

    We spent the majority of 2018 planning the initial program, including reprocessing of the available historical seismic data, interpreting the results using modern geophysical techniques and identifying and prioritizing drilling targets.

    As part of the extensive planning activities for the current drilling program, the Company undertook environmental investigations, access arrangements with landholders and selected contractors through a comprehensive tender process.

    This year also saw the grant of our Pipeline Survey Licence to investigate options to interconnect with the Queensland Gas Pipeline and broader east coast gas market.

    In terms of personnel, we have been able to recruit Lucy Snelling, an experienced executive from the oil and gas sector with legal, commercial and operational experience as our Chief Executive Officer.

    Following Lucy's appointment, we recruited James Crowley as our Chief Operating Officer. James's career in the industry includes 34 years in Australia, Egypt, New Zealand and the North Sea. He held senior executive roles with AGL Energy, Senex Ltd, Origin Energy Ltd, and Apache Corporation.

    One of the tasks James undertook was a detailed review of the geology of the Permit and the results of historical drilling.

    As previously advised, this review has indicated that in addition to conventional gas, PL 231 may have potential for significant quantities of coal seam gas due to both the presence of Permian coal seams and positive pressure maintenance. Surprisingly, the PL 231 permit area has not previously been explored for coal seam gas.

    Following that geological review the Company refocussed its planning for drilling to include the investigation of the coal seam gas potential in PL 231.

    That drilling program is now well underway, with the completion of our Primero West-1 well last week and the imminent commencement of drilling at Nyanda-4.

    Lucy will be elaborating on the drilling program in her presentation.

    As most market observers will be aware, the east coast gas market remains buoyant and gas shortages in the domestic market, and a strong international market present significant opportunities for new gas developments in Queensland.

    As Australia and most other developed economies transition to a lower carbon environment, gas is likely to become more important as a transitional fuel, supporting intermittent renewable generation such as wind and solar.

    Granted under the 1923 Act, our Permit conditions are not currently subject to the domestic gas reservation policies applicable to some of the more recent permit areas offered by the Queensland Government.

    Subject to exploration success and infrastructure investment, we see long-term opportunities for the Reid's Dome Project to provide gas to both the domestic and international markets.

    Clearly this is an exciting period ahead for the Company and we look forward to providing updates to shareholders and the broader market on the Project and our Company as we progress our exploration and development program.

    To view the presentation to the Annual General Meeting, please visit:

    Lucy Snelling
    Chief Executive Officer
    M: +61-439-608-241
    Greg Baynton
    Executive Director
    M: +61-414-970-566

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    Speedcast International Limited (ASX:SDA) (OTCMKTS:SPPDF), the world's most trusted provider of remote communication and IT solutions, today announced that the company has completed factory acceptance testing and has begun the installation phase of a long-term, multi-solution telecommunication systems integration project for a natural gas platform set to operate in the Eastern Mediterranean by one of its leading offshore energy customers.

    This project, awarded to Speedcast by Noble Energy in late 2017, will generate several million in revenue for the company. The scope of work integrates a variety of communications systems, including: telecommunications cabinets; company LAN, Wi-Fi, VoIP, CCTV, Structured cabling, crane/marine/company radio systems, 4G/LTE, IPTV, weather observation system and emergency satellite phones.

    "We are proud to continue growing our footprint and demonstrating our strength in engineering and telecom systems integrations," says Terry Babin, Speedcast's Global Director of Systems Integration. "This project is a great example of the breadth of capabilities our team can execute, from initial requirements gathering, to a custom design based on specific RFP details, and now timely and cost-effective implementation. We look forward to helping Noble Energy with our continued 24x7 support once the solution has been fully installed and the platform is operational."

    In addition to being the world's leading VSAT services provider, Speedcast offers robust telecoms systems integration services for large integration projects onshore and offshore. Speedcast's technical staff of engineers can design, build and deliver fully custom solutions that seamlessly integrate connectivity services with a variety of networking, security, communications and IoT systems, and are skilled in research studies, front-end engineering design, and full testing and verification services.

    Toni Lee Rudnicki
    Vice President, Global Marketing
    Speedcast International Ltd
    T: +1-832-668-2634

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    Australian Potash Limited (ASX:APC) (Australian Potash) is pleased to advise the successful completion of the final transfer of brine into Harvest Pond 3 at the Lake Wells Sulphate of Potash project's pilot evaporation pond network.


    - 11 tonnes of Potassium rich salts harvested from Harvest Pond 1

    - 13 - 14 tonnes of Potassium rich salts crystallised in Harvest Pond 2

    - Transfer of +40 tonnes of concentrated brine into final Harvest Pond 3

    - Lake Wells SOP Project environment ideal for solar salt production

    Australian Potash Managing Director Matt Shackleton said: "With this transfer of brine into the final harvest pond, the pilot evaporation pond program is rapidly concluding.

    "Once the evaporation step is complete, which we anticipate in the next 14 - 21 days, a blend of about 2 tonnes of the Potassium rich salts from all the harvest ponds will be processed into SOP at the Company's purpose-built pilot processing plant. The production of SOP in Perth will be supervised by one of Novopro's expert engineers on secondment to APC.

    "We plan to provide trade samples of APC's Lake Wells SOP to our existing MOU-off-take partners, Sino-Agri and Hubei-Agri as we look to move the relationships with those parties to a more formal off-take position. We are also constantly engaged with Australian users and distributors of SOP, and we look forward to providing evidence of the quality of our product to those parties too" Mr Shackleton said.

    Lake Wells Sulphate of Potash Project

    With granted Mining Leases in place, the Lake Wells SOP Project is targeting the production of 150,000 tonnes per annum through an initial Stage-1 development, rising to 300,000 tonnes per annum on development of Stage-2. Costs of production place the project in the lowest quartile on the global operating costs curve(see Note below).

    Located just 280kms from bulk rail terminals at Leonora (see Figure 4 in link below), the Lake Wells SOP Project is well supported by local government. The Shire of Laverton allows APC to off-set annual rates payable on the recently granted Mining Leases against the maintenance and upgrade of the Lake Wells access road. In addition to this, the Shire has committed to sealing the surface of the Great Central Road a further 100 kms east of Laverton, effectively providing APC with an additional 70kms of sealed road in its infrastructure solution.

    APC has in place Memorandums of Understanding with two of China's largest agricultural companies for a combined 200,000 tonnes per annum of off-take.

    Australian Potash is committed to supplying SOP to Australian farmers and is actively engaged with large fertiliser distributors in Western Australia. Annual consumption of all potash types in Australia is approximately 500 - 600 thousand tonnes, including 50 - 60kT SOP. With effective incentive pricing, the volume of SOP consumed in Australia will increase materially.

    APC is conducting a Definitive Feasibility Study into the development of a solar salt SOP operation at Lake Wells and is targeting H1 2019 to release the findings of this DFS.

    Note: Refer to ASX announcement 23 March 2017 'Scoping Study Confirms Exceptional Economics of APC's 100% Owned Lake Wells Potash Project In WA'. That announcement contains the relevant statements, data and consents referred to in this announcement. Apart from that which is disclosed in this document, Australian Potash Limited, its directors, officers and agents: 1. Are not aware of any new information that materially affects the information contained in the 23 March 2017 announcement, and 2. State that the material assumptions and technical parameters underpinning the estimates in the 23 March 2017 announcement continue to apply and have not materially changed.

    To view figures, please visit:

    Matt Shackleton 
    Managing Director and CEO
    M: +61-438-319-841

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    THC Global Group Limited (THC Global or the Company) (ASX:THC) (OTCMKTS:HDRPF) is pleased to advise that the Company's name has changed to THC Global Group Limited, from The Hydroponics Company Limited.

    The ASX code "THC" remains unchanged.

    The change of the Company name was approved by shareholders at the Extraordinary General Meeting held on 15 November.

    Shareholders supported the directors when considering the new name, which better reflects the strategic developments in the business, the importance of advancing established global operations and international partnerships and recognises the significant value THC Global is now creating and into the future, across both medicinal and recreational cannabis markets.

    THC Global believes the new name also captures the growth objectives and direction for the Company as a leading medicinal cannabis business with tier one growing and manufacturing capacity in Australia and ability to supply and expand internationally.

    THC Global will continue to expand its Vancouver-based revenue generating hydroponics division (Crystal Mountain), which sells equipment and growing mediums, while accelerating the build out of its medicinal cannabis growing and manufacturing facilities under its 'Farm to Pharma' pharmaceutical model.

    Ken Charteris
    Chief Executive Officer
    Henry Kinstlinger
    Company Secretary
    THC Global Group Limited
    P: +61-2-9251-7177
    Michael Lovesey
    Director Corporate Media Relations
    MMR Corporate Services Pty Ltd
    P: +61-2-9251-7177
    M: +61-449-607-636

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    State Gas Limited (ASX:GAS) advises that the Nyanda-4 coal seam gas and conventional gas well at the Reid's Dome Gas Project (PL 231) was spudded at approximately 8am AEST today.

    The Nyanda-4 well is located approximately 13.5km south of the Primero West-1 well (completed last week by State Gas Limited, TD 250.77m) and 50m southwest of Nyanda-1 which was drilled in 1987 and reached TD in the Cattle Creek Formation.

    The Nyanda-4 well has a planned depth of 1,000 metres to investigate both the gas potential of tight gas sands and coal seams within the Reid's Dome Beds. The well is a jointly-funded well in accordance with the terms of the Joint Operating Agreement, with 60% of the costs being met by State Gas Limited. The Reid's Dome Joint Venture is utilizing the Sliver City Drilling Rig-25 for the current drilling program.

    The Nyanda-4 well has been designed to be plugged and abandoned on completion of drilling and evaluation. In the event of success, additional seismic data may be acquired and interpreted to improve planning of future appraisal/production wells.

    State Gas Limited is sole Operator and 60%-owner of the Reid's Dome Gas Project.

    To view figures, please visit:

    Lucy Snelling
    Chief Executive Officer
    M: +61-439-608-241
    Greg Baynton
    Executive Director
    M: +61-414-970-566

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    The Directors of Hastings Technology Metals Limited (ASX:HAS) are pleased to announce a 6.7% increase in Measured plus Indicated Resources at the Yangibana Project compared to the most recent JORC Mineral Resource estimate in November 2017 (ASX release titled "Final 2017 JORC Resource Update including Auer and Auer North Results" 22nd November 2017). Measured plus Indicated Resources now stand at 13.38 million tonnes within a total resource of 21.67 million tonnes. The total resource now hosts more than 80,000 tonnes of neodymium and praseodymium oxide, the Company's main economic driver.

    - Measured plus Indicated Resources increased by 6.7% to 13.38 million tonnes

    - Total Resources increased to 21.67 million tonnes

    - Contained neodymium and praseodymium oxide exceeds 80,000 tonnes in total resources

    - Programmes in place for next drilling phase in 2019

    JORC Mineral Resources

    An updated JORC Mineral Resource estimation has been completed by independent consultant Lynn Widenbar and Associates incorporating the recent drilling results from Bald Hill, Fraser's, Auer and Auer North deposits. The total resources as at October 2018 are as shown in Table 1(see link below). Note that in all resource tables rounding errors may appear. The resources are based on a 0.2%Nd2O3+Pr6O11 cut-off, with a minimum width of 1.0m. 0.5m of dilution at grade from both the hangingwall and the footwall is incorporated into the estimation.

    These figures represent a modest increase in total tonnes compared to the previous estimate from 20,996,000 (+3.2%), but a significant increase in Measured plus Indicated Resources (+6.7%), particularly in the Measured category that has increased by 21.1%.

    Resources from the deposits that are planned for early development - Bald Hill and Fraser's - are shown in Tables 2 and 3(see link below). Both deposits are within granted Mining Leases held 100% by Hastings.

    Following the recent drilling at Auer and Auer North (ASX Release titled "Successful Infill and Extension Drilling at Auer, Auer North" 5th October 2018) , the main increases in total resources are at these deposits as shown in Tables 4 and 5(see link below). Both deposits are within Exploration Licences held 100% by Hastings and the Company will make application for a Mining Lease in the near future.

    Longitudinal sections of Auer and Auer North showing accumulation (metre % Nd2O3+Pr6O11) are shown in Figures 1 and 3 (see link below) showing good potential for additional resources particularly at depth along the length of Auer and at Auer North Zone 1. Figures 2 and 4 (see link below) show the resource categorisation for the two deposits.

    JORC Mineral Resources for Yangibana, Yangibana West, and Yangibana North are shown in Tables 6, 7 and 8 (see link below) respectively.

    Of the total resources at Yangibana, 1,900,000 tonnes are within Mining Lease 09/165 held 100% by Hastings and 269,000 tonnes are within Mining Lease 09/163 in which Hastings holds a 70% interest.

    Yangibana West lies within Mining Lease 09/160 held 100% by Hastings. The mineralisation is part of a continuous deposits that extends into Mining Lease 09/159, in which Hastings holds a 70% interest, as Yangibana North.

    JORC Mineral Resources at Simon's Find are shown in Table 9(see link below). These resources are located within Mining Lease 09/158 and Exploration Licence 09/1943, both held 100% by Hastings. Additional drilling and metallurgical testwork will be undertaken prior to the application for a second Mining Lease.

    JORC Inferred Mineral Resources at Gossan, Lion's Ear, Hook and Kane's Gossan are shown in Table 10(see link below). These deposits are all within Mining Lease 09/159 in which Hastings holds a 70% interest.

    A proposed drilling programme for 2019 has been established and will commence with holes testing the large aeromagnetic anomaly reported recently (ASX Release titled "Major Aeromagnetic Target Identified at Yangibana" 8th August 2018).


    Total Rare Earths Oxides, TREO, is the sum of the oxides of the light rare earth elements lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), and samarium (Sm) and the heavy rare earth elements europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu), and yttrium (Y).

    To view tables and figures, please visit:

    Andrew Reid
    Chief Operating Officer
    T: +61-8-6117-6118
    Andy Border 
    General Manager Exploration
    T: +61-2-9078-7674

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    Eon NRG Limited (ASX:E2E) (OTCMKTS:ICRMF) ("the Company" or "Eon") is pleased to announce that in October it achieved its highest sales revenue of US$660,000 (AU$929,000) with its current assets.

    - October 2018 sales of US$660,000 (AU$929,000)

    - Natural Gas prices have increased by more than 66% in the last two months

    - Another gas well recompletion at the Silvertip Field is scheduled for December

    Sales Update:

    33% of the sales volume was natural gas (~4,500 Boe) which sold at an average price of US$3.39/Mcf with the remaining 66% being liquids (oil and NGL - 9,260 Bbls) with the average oil price of US$69/Bbl.

    The last two months has seen a sharp rise in the price of natural gas with CIG Rockies benchmark prices currently above US$4/Mcf (AU$5.50/Mcf) (the average CIG Rockies price has been US$2.40/Mcf for the previous 6 months). Gas from the Silvertip Field is delivered into the nearby interstate transportation pipelines and is sold based on the CIG Rockies benchmark price.

    The gas price increases have come about in part due to concerns that gas stockpiles are at a 15-year seasonal low and there could be a shortage in meeting winter heating needs, even as production hovers near a record high off the back of associated gas from increased shale oil production. In North America, gas stored in underground aquifers and salt caverns in summer months is used to supplement supplies pumped from wells during winter.

    Gas well recompletion:

    Gas production from the Silvertip Field, Wyoming has been stable during 2018 following the successful recompletion of the 35-28 well in February. With the increase in winter gas prices, a further well recompletion will be carried out on the STU 64-28F well in December.

    Infrastructure to capture and transport the gas from the well to market is already in place at the Silvertip Field. Gas is processed through Eon's gas plant and delivered directly to the purchasers' pipeline.

    To view figures, please visit:

    Australia -
    Simon Adams
    CFO/Company Secretary
    Phone: +61-8-6144-0590
    USA -
    John Whisler
    Managing Director
    Denver Head Office: +1-720-763-3183
    Twitter: @EonNRG

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    Collaborate Corporation Limited (ASX:CL8) (Collaborate or the Company) is pleased to advise that it has issued a further 800,000 fully paid ordinary shares (Shares) at an issue price of $0.015 per Share under the Shortfall Offer pursuant to the entitlement issue prospectus dated 14 September 2018 (Entitlement Issue Prospectus), following the reinvestment by certain non-related party underwriters of underwriting fees and interest on advances paid to them. This placement takes the total Shares issued under the Entitlement Issue Prospectus to 69,434,699 Shares and total funds raised to $1,041,521, before costs.

    CEO and Executive Director, Mr Chris Noone, said "We welcome the reinvestment and continued support by the underwriters, who are also existing major shareholders of the Company."

    The Shares were issued under exception 3 of Listing Rule 7.2 and therefore will not occupy the Company's 15% placement capacity pursuant to Listing Rule 7.1.

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

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