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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 its new Cybersecurity as a Service solution, a combination of best-in-class applications and services to protect customers against growing cyber threats. The solution aims to protect customers from cyber risks by defending customers' assets, detecting and monitoring threats, and mitigating cyberattacks.

    Cyberattacks can lead to business disruption, financial loss, damage to reputation, damage to goods and environment, incident response cost, fines and legal issues. The rapid increase in ransomware and malware attacks globally has led to an increase in cybersecurity regulatory requirements from organizations such as the International Maritime Organization (IMO) and the Baltic and International Maritime Council (BIMCO).

    Cybersecurity as a Service combines a unified threat management system and end-point protection, ensuring our customers' remote sites are operating securely, allowing personnel to focus on supporting the company's critical operations. Speedcast's Security Operations Center (SOC) proactively monitors the protection level of customer sites, provides alerts and reports, and protects against malicious threats. Cybersecurity as a Service can be operated from remote sites or vessels and runs on Speedcast's integrated communication platforms SIGMA Gateway and SIGMA Gateway Xtreme.

    "Companies are undergoing digital transformation and implementing automation across all levels of their organizations," said Tim Bailey, Executive Vice President, Products, Marketing & Business Development, Speedcast. "Our Cybersecurity as a Service solution provides advanced cybersecurity applications and best-in-class services, enabling our customers to proactively control cyber threats. This solution underscores our focus on extending our product portfolio to deliver applications and services that bring value to our customers."

    In addition, Speedcast's products and services are compliant with standards and recommendations provided by ISO (International Standard Organization), IEC (International Electrotechnical Commission), IACS (Information Sharing and Analysis Center) and International Maritime Organization (IMO).

    For more information, contact

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

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    MNF Group Ltd (ASX:MNF) to acquire Wholesale and Enablement Business from Inabox Group (ASX:IAB). The Board of MNF Group Limited (MNF) is pleased to announce that at the IAB General Meeting held on Friday, IAB shareholders voted resoundingly in favour of divesting their main business undertaking.

    This was the only condition required for MNF to complete the acquisition of the Wholesale and Enablement Business from IAB. MNF will now work constructively with the IAB team to complete the transaction over the coming few days.

    The MNF Board wishes to thank IAB shareholders for their support of the transaction.

    Renee Halliday
    Executive Assistant to CEO
    T: +61-2-8008-8231

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    The Board of The BetMakers Holdings Limited (ASX:TBH) (FRA:T07) (OTCMKTS:TPBTF) ("TBH" or the "Company") is pleased to update the market, in relation to the purchase of the Dynamic Odds (DO) business.

    Further to the announcements released by the Company on 9 August 2018 and 29 August 2018, the Second Instalment payment of $1Mil has been paid as part of the transaction and relevant share documents have been transferred.

    In addition, TBH would like to advise that it has established a line of credit for up to $500k to assist with cash flows. The material terms of the line of credit are set out below.

    The Company is progressing well towards its target of profitability in Q1 CY19 (March quarter).

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

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    Argentine-focused lithium exploration and project development company Lake Resources NL ASX:LKE) (FRA:LK1) announced today that its plans for a low-cost, rapid production lithium mine with significantly high lithium recoveries have received a boost, following the results of a Phase 1 Engineering Study conducted by California-based Lilac Solutions, Inc.

    - Phase 1 Engineering Study with partner Lilac Solutions shows potential for lithium production costs to be US$2600/tonne (+/-30%) in lowest quartile at Lake's 100% owned Kachi Lithium Brine Project, using Lilac's direct extraction process.

    - High lithium recoveries of 85-90% confirmed from multiple brine samples, with lithium concentrations greater than 25,000 mg/L produced from ~300 mg/L lithium brine.

    - On-site pilot plant eyed in 2019 as part of pre-feasibility study (PFS), as a precursor to full-scale commercial project offering rapid, low-cost production with low environmental impact.

    The study examined lithium recoveries and the upgrading of lithium concentrate from brines at Lake's 100%-owned Kachi Lithium Brine Project in Argentina, together with estimated operating costs of a commercial sized Lilac Solutions production plant.

    Significantly, the results showed high lithium recoveries of 85-90% from multiple brine samples from Kachi. Lithium brine concentrates were produced in just three hours using the Lilac process, with low impurities (Mg, Ca, Sr, B).

    This compares favourably with conventional brine operations in South America, which have typical lithium recoveries below 50%, along with a lengthy 9 to 24 month waiting period for evaporation to produce a suitable lithium brine concentrate for processing.

    Lithium concentrations greater than 25,000 mg/L lithium were produced from ~300 mg/L lithium brine using the Lilac process, together with evaporative dewatering. Commercially, this could be undertaken using the Lilac process together with conventional reverse osmosis and further evaporative dewatering.

    This stream could then be processed downstream into battery-grade lithium carbonate product using conventional purification technologies in a conventional carbonate plant.

    The study also showed that the process offers the potential for a globally-competitive cost of production, estimated to be US$2600/tonne (+/-30%) in the lowest cost quartile for lithium carbonate production. (Note: The estimated costs of production are preliminary estimates based on the Phase 1 Engineering study.)

    Lithium carbonate exported from South America (Chile/Argentina) currently sells for US$13,500-14,375/tonne (Benchmark Mineral Intelligence, Nov 2018).

    Welcoming the results, Lake's Managing Director, Steve Promnitz said they supported the Company's plans for the rapid development of a new mine, tapping into growing global demand for lithium on the back of the world's clean energy revolution in car and battery technology.

    "Lilac's proprietary extraction process could put Lake ahead of rival projects in terms of cost and recovery rate, giving Kachi a significant boost in terms of profitability, as well as minimising its environmental impact," Mr Promnitz said.

    "Increased grade through the enhancement process indicates that a 300 mg/L lithium brine could produce lithium carbonate or lithium chloride products. We look forward to further advancing this research as part of the upcoming PFS for Kachi."

    The positive study follows Lake's milestone announcement on 27 November 2018 estimating Kachi's maiden Indicated and Inferred Resource of 4.4 Mt LCE (Indicated 1.0Mt and Inferred 3.4Mt) within an Exploration Target of 8-17Mt LCE, covering some 69,000 hectares over almost an entire lithium-bearing salt lake in Catamarca Province.

    (Note: The potential quantity of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate this Exploration Target as a Mineral Resource and it is uncertain if further exploration will result in the estimation of additional Mineral Resources.)

    Pilot plant

    Lilac has performed testing on multiple Kachi brine samples with grades of ~ 300 mg/L lithium, and used that information to develop a flowsheet for producing 25,000 tonnes per year of lithium carbonate with an expected overall lithium recovery of approximately 85-90%.

    As a result, Lilac is in the process of providing a detailed proposal for an on-site pilot plant in 2019 as part of a PFS (Lake is also assessing conventional methods), with such a plant being a precursor to a full-scale commercial project.

    The planned approach is to produce a concentrate of purified lithium brine on site and then convert to lithium carbonate at a location with more established infrastructure and workforce. Most reagents are easily sourced locally, except for proprietary reagents.

    Lilac's extraction technology also offers the potential for reduced environmental impact compared to traditional processes used in Argentina, due to the removal of evaporation ponds. In addition, the remaining brine would be reinjected into the aquifer from which it is sourced without significantly affecting the water quality, thereby preserving an aqueous resource in an arid environment.

    "Combining Lake's scale and project experience with Lilac's technology and process expertise is expected to enable a rapid path to low cost commercial production of lithium carbonate from the Kachi resource," Mr Promnitz added.
    "Together with our other lithium projects in Argentina, Lake is in position for major advances in 2019, generating potential new jobs for the local community and wealth for shareholders."

    About Lilac Solutions

    Lilac Solutions is a lithium extraction company based in Oakland, California. Lilac offers a full-service ion exchange technology for lithium extraction from brine resources that is cheap, fast, effective, and environmentally friendly, and that is adaptable to a wide variety of brine chemistries.

    It has been working with Lake to transform lithium production with its innovative ion exchange technology for extraction of lithium from brine resources. Lilac deploys unique ion exchange media and related processes to extract lithium from a wide variety of brine resources with high recoveries, minimal costs, and rapid processing times. This approach eliminates the need for evaporation ponds, which are expensive to build, slow to ramp up, and vulnerable to weather fluctuations.

    A significant environmental benefit comes from the removal of evaporation ponds, which significantly reduces the footprint of the operation. Further, the method allows for the remaining brine to be reinjected into the same aquifer from where it is sourced, without significantly adjusting the water quality, thereby preserving an aqueous resource in an arid environment.

    Lilac's technology can economically access brines with low lithium concentrations and high concentrations of other salts, such as magnesium. Cost advantages come from reduced time, higher recoveries and a simplified extraction flowsheet with fewer reagents. The technology is modular to suit various project sizes and integrates with conventional plant designs for production of battery-grade lithium carbonate and lithium hydroxide. The technology has been successfully tested with real brine samples from across the Americas.

    For more information on Lilac, please visit

    To view tables and figures, please visit:

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

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    Goldfields Money Limited (ASX:GMY) ("Goldfields Money" or the "Company") is pleased to provide the following trading update and key operating metrics for the month ended 31 October 2018.

    Trading Update October 2018 The month of October 2018 continued the strong performances for both Goldfields Money and Finsure, with increases across all key operating metrics, including managed loans settlements, aggregation settlements and the recruitment of loan writers.

    The Company reported another particularly strong performance in the higher-margin Managed Loan Settlements division, as a result of the successful consolidation of four mortgage managers into the business over the past 24 months.

    Importantly, managed loan settlements, aggregation settlements and the recruitment of loan writers are key operating metrics that drive both transactional and recurring revenue streams. Recurring revenues consist of interest, trailing commissions, management fees, transactional fees on trailing commissions, platform fees, compliance fees and software as a service subscription fees.

    Managing Director, Simon Lyons, commented: "The strong performance of the business during October further demonstrates the strategic rationale for merging Goldfields Money and Finsure, creating a company with increased distribution and more diversified revenue streams."

    "The businesses reached another milestone in October with book growth in managed loans to $2.533 million and an aggregation book of approximately $34 billion. Goldfields Money's banking business also contributed $6.3 million in managed loans on balance sheet over the month."

    "Since the completion of the merger on 17 September 2018, the pipeline of applications has also grown significantly, which is especially encouraging. Furthermore, we continue to win market share and outperform our listed peers against a backdrop of negative credit growth."

    "We have also successfully increased our deposit base to $211m, up from $195m as at June 30, and continue to successfully diversify our funding sources with our call deposits increasing to 21% up from 18% at the end of June."

    "The post-merger integration is going to plan and we expect to derive more revenue synergies in the months ahead. We continue to invest in the business, particularly in building out our digital strategy and growing our own technology development team. We aim to make a senior appointment to oversee this in the months ahead." Mr Lyons concluded.

    Due to the aggregation of data the timing of each monthly report will be approximately five weeks from month end i.e. November 2018 metrics will be released around the end of the first week of January 2019. The Company intends to provide this information on a monthly basis for the first half of FY19.

    To view tables and figures, please visit:

    Investor / Media Enquiries
    Simon Lyons
    Executive Director & CEO
    Goldfields Money
    Ph: +61-8-9438-8810
    Andrew Rowell
    Director - Investor Relations
    Cannings Purple
    M: +61-400-466-226

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    MMJ Group Holdings Limited (ASX:MMJ) (ETR:2P9) (OTCMKTS:MMJJF) ("MMJ") is pleased to provide answers to commonly asked questions on the structure, strategy, performance and outlook for MMJ as follows:

    Structure: What is a listed investment company ("LIC") and why did MMJ recently become a LIC?

    A LIC is an entity in which its main activities or the principal part of its activities relate to investing in listed or unlisted securities. LICs provide investors with exposure to an ASX-traded entity with a professionally-managed and diversified portfolio of investments.

    MMJ's Board recently made the important decision to change MMJ into a LIC so that it could directly leverage the skills and capabilities of both the Board and management team in the best way possible to optimise risk-adjusted returns over both the short and long term.

    As a LIC, MMJ is not permitted to take a controlling interest in any company in which it undertakes an investment.

    By holding minority investments in what is a global, emerging and rapidly growing sector, MMJ is now well-placed to respond to, and capitalise on, significant changes as the sector expands then matures and ultimately consolidates through mergers and acquisitions activity.
    Accordingly, MMJ will continue to seek minority shareholdings in global cannabis companies and actively manage its portfolio of public and private companies. This active portfolio management approach will involve selective divestments from time to time as a result of, for example, mergers and acquisitions or on market share sales.

    Portfolio management strategy:What is MMJ's approach to the construction and management of its current global cannabis investment portfolio and any future investments?

    MMJ's short to medium-term investment strategy as a LIC is to invest in a portfolio of global cannabis investments that will deliver capital growth and profit from asset sales.

    The timing of investments in the medium to long-term will be determined by when opportunities arise that MMJ believes can grow shareholder value based on a diligent risk-reward analysis.

    MMJ remains focused on investing across the cannabis value chain where each investment has a strong leadership team and the potential to be a market leader, market consolidator or takeover target.

    MMJ typically invests up to AUD$5 million per opportunity with a 12-24 months investment horizon.

    Canadian regulatory landscape: What recreational, retail cannabis products are legal for sale to adults in Canada?

    Sales are currently limited to cannabis flower and oil extracts. MMJ understands that Health Canada will set the regulations for the legal sale of cannabis edibles (including beverages) within the next 12 months.

    Performance measures: What are the key performance measures for MMJ as a LIC and how and when will they be reported?

    Key measures of future performance for MMJ are its share price, net tangible assets ("NTA") per share, along with the multiple on invested capital ("MOIC") that MMJ can achieve from its investment portfolio.

    The NTA per share will be announced each month by MMJ in accordance with its LIC requirements.

    The portfolio MOIC is expected to be announced periodically as part of MMJ's investor presentations.

    Targeted returns: What are the targeted returns for MMJ's investment portfolio?

    MMJ is focused on generating a portfolio MOIC of at least 2x over the next 12 months. If achieved, based on MMJ's current unaudited invested capital balance of approximately AUD$47 million and no change in its shares on issue, this would produce a materially higher NTA per share for MMJ's shareholders.

    Harvest One: What are MMJ's intentions in respect of Harvest One, currently the largest investment in MMJ's portfolio, and does MMJ need to own a certain percentage shareholding?

    As announced by MMJ's Board on 5 December 2018, MMJ's current strategy is to remain a major shareholder of Harvest One and support its management team in the execution of its business plan.

    It is worth noting that Harvest One appointed a new Chief Executive Officer, Chief Operating Officer and General Counsel, and members to its Board of Directors during the last fiscal quarter 2019. This new team is in the process of executing a revised strategic direction for Harvest One.

    MMJ is confident that the Harvest One management team will execute on its future business plan and that this should lead to an increase in the value of MMJ's shareholding in Harvest One.

    MMJ owns 55,557,994 shares in Harvest One for a 30.5% shareholding and this remains MMJ's most significant investment to date. There is no regulatory or other requirement for MMJ to reduce its current shareholding in Harvest One and, as a LIC, MMJ is not permitted to take a controlling interest in Harvest One.

    Capital management approach: How does MMJ fund its new investments and corporate costs?

    MMJ funds its activities primarily through selective portfolio divestments which, to date, have been achieved by selling its stakes in private companies (for example, as a result of the takeover of Dosecann Inc earlier this year) and in public companies (for example, through partial on market divestments of shareholdings). Subject to portfolio liquidity at the time, MMJ may also seek to raise capital from debt or equity issues to meet the funding needs of its portfolio or to make new investments.

    Outlook: What is the outlook for MMJ's investment portfolio over the next 12 months?

    Please refer to MMJ's latest investor presentation dated 21 November 2018. It can be viewed at MMJ's web site:

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

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    Speedcast International Limited (ASX:SDA) (FRA:7SC) (OTCMKTS:SPPDF) the world's most trusted provider of remote communication and IT solutions, announced today that the Committee on Foreign Investment in the United States (CFIUS) has completed its review of the company's previously announced transaction with Globecomm Systems Inc.

    Based upon its review, CFIUS has determined that there are no unresolved national security concerns with respect to the acquisition.

    Speedcast expects to complete the transaction in December 2018, subject to customary closing conditions.

    Speedcast will issue a further announcement when completion of the acquisition and associated financing occurs.

    Vanessa Cardonnel
    Senior Vice President
    Corporate Development and Investor Relations
    Speedcast International Ltd
    T: +852-3919-6833

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    Intermin Resources Limited (Intermin) (ASX:IRC) intends to offer, by way of a Scheme of Arrangement, 1 Intermin share for every 1.8227 MacPhersons Resources Limited (MacPhersons) (ASX:MRP) shares held, valuing MacPhersons at approximately A$0.0825 per share (the proposed Merger). Further details of the Merger are provided under the heading "Merger Transaction Summary" below.

    - Intermin and MacPhersons have executed a Merger Implementation Agreement to progress the proposed combination of the two companies through a Scheme of Arrangement.

    - Transformational combination of the two companies, with combined estimated Mineral Resources of 1.15Moz of gold, comprised of large scale baseload feed and higher grade satellite open cut sources, unlocking an expedited pathway for the creation of a new standalone gold producer in the Kalgoorlie region to be renamed Horizon Minerals Limited (subject to Intermin shareholder approval).


    - The Merger is unanimously recommended by the Board of MacPhersons in the absence of a superior proposal and subject to an independent expert, to be commissioned by MacPhersons, concluding that the Scheme of Arrangement is in the best interests of MacPhersons shareholders.
    - Intermin has an estimated Mineral Resource of 562,000 ounces of gold in the Kalgoorlie, Coolgardie and Menzies region and several active joint ventures, including the world class Richmond vanadium project in Queensland.

    - MacPhersons holds a 100% interest in the Boorara gold project 10km east of Kalgoorlie, which has an estimated Mineral Resource of 507,000oz of gold, and the Nimbus project hosting estimated Mineral Resources of 78,000oz of gold, 20Moz of silver and 104,000t of zinc.

    - Boorara has approvals in place for an open pit mine development and construction of a new processing facility, so will provide an ideal location for a baseload operation supplemented by higher grade feed from a number of existing deposits within easy trucking distance.

    - The Merger will create a significant resources company (to be renamed Horizon Minerals Ltd, subject to Intermin shareholder approval) with combined estimated Mineral Resources of 1.15Moz of gold, an attractive gold exploration portfolio and exposure to multiple commodities including vanadium, nickel-cobalt, copper and silver-zinc.

    - The merged entity will be led by Intermin Managing Director Jon Price and supported by a strong Board comprising Intermin Chairman Peter Bilbe as Non-Executive Chairman and Macphersons Directors Ashok Parekh and Jeff Williams as Non-Executive Directors.

    - On successful completion of the Merger, the combined entity intends to commence a feasibility study for the integrated development of the companies' respective existing gold projects to position it to become an emerging mid-tier gold production business (proposed Feasibility Study).

    - The merged entity is expected to have a strong financial position, improved liquidity and increased appeal to a broader investor base.

    Commenting on the Merger, Intermin Managing Director Jon Price said:

    "The logical consolidation of these complementary assets will provide the critical mass to underpin a larger scale production profile, improved balance sheet and stronger business. Combining MacPhersons' large baseload Boorara deposit with the nearby, higher-grade Intermin projects should enable a more rapid pathway to production with sufficient scale to avoid the need for third party toll milling."

    "This Merger is consistent with Intermin's growth strategy to create value for shareholders through aggressive, self-funded exploration and value accretive acquisitions. We look forward to working with the MacPhersons' team to complete the transaction and embark on an exciting new chapter for all shareholders and the regional communities in which we operate."

    Commenting on the Merger, MacPhersons' Managing Director Jeff Williams said:

    "The combined technical and commercial skills of the two companies is expected to greatly enhance the merged group's capabilities. This is a transformational deal which is intended to create the economies of scale necessary to undertake a standalone development."

    "Together we will have a strong Board and Management team, large resource base of more than 1 million ounces of gold, growth options in multiple commodities and a clear development and production strategy in the WA goldfields."

    Intermin and MacPhersons Merger

    Intermin and MacPhersons are pleased to announce the signing of a Merger Implementation Agreement (MIA) to combine the two companies by way of a Scheme of Arrangement, subject to MacPhersons shareholder and court approval. The combined gold projects cover a total area of 1,100km2 in close proximity to Kalgoorlie-Boulder in the world class Western Australian goldfields (Figures 1 and 2 in link below).

    The merged entity - to be named Horizon Minerals Limited (subject to Intermin shareholder approval) - will have estimated Mineral Resources totalling 1.15Moz of gold and an extensive portfolio of highly prospective growth assets in the WA goldfields. The Merger provides a clear pathway to a standalone operation. The combined asset base will hold 562,000oz of existing estimated gold Mineral Resources located within easy trucking distance of the 507,000oz Boorara deposit which has approvals in place for open pit mine development and the construction of a new processing facility.

    The large scale Boorara gold project, located 10km east of Kalgoorlie-Boulder, has the ability to provide significant baseload feed for a standalone plant located within the Boorara tenement area. MacPhersons has completed over 86,000m of infill and extension drilling and extended the strike length at Boorara to over 2km and the deposit remains open to the north and at depth.

    The Boorara orebody is close to surface, has low strip ratios and has excellent metallurgy with high gravity recovery and high overall recoveries of +90% at a coarse grind of 180 microns. Trial mining at Boorara in 2016 to test geological modelling, mining methods and metallurgical performance was highly successful and demonstrated improved grades from closer spaced drilling and the presence of a potentially higher grade component within the global resource. Further infill and extension drilling is planned in 2019 for this very large gold system to test this potential and feed in to the Feasibility Study as the baseload feed to underpin a standalone processing facility.

    Intermin's core Teal, Goongarrie Lady, Binduli, Anthill and Blister Dam gold projects each have the potential to provide +2g/t, oxide and transitional feed amenable to open pit mining to supplement the baseload feed from Boorara (Figure 1). The recently completed Teal open pit 12km north of Kalgoorlie-Boulder demonstrated this potential delivering approximately 22,000 ounces of gold grading 3.2g/t and 94% gold recovery.

    Intermin's self-funded 55,000m resource extension and new discovery drilling program for 2018 is now complete. It has delivered resource growth to an estimated 562,000oz of gold to date, with further resource updates planned for the December 2018 and March 2019 quarters. Further high priority drilling targets have been identified and prioritised for testing in 2019, focussed on high grade open cut and underground ore bodies on major shear zones for transport to the potential Boorara processing facility. A pipeline of development projects has been identified, including the Goongarrie Lady open pit that has been the subject of a Feasibility Study which produced results of approximately 12,000oz of gold at 2.9g/t Au and approximately A$5.7m in cash flow over the seven months life of mine.

    The newly acquired Yarmany and Lakewood project areas (Figure 1) provide further untested potential and will also be a focus for resource definition and new discovery drilling in 2019.

    Overall, the combination of the two companies' projects provides a strong foundation for the merged entity to pursue an accelerated development strategy with the aim of becoming a recognised long life sustainable gold producer for the benefit of all shareholders and the community in which we operate.

    The merged entity is expected to also have increased market relevance with larger market capitalisation, stronger balance sheet, improved share liquidity and be of a scale to attract a broader investor base.

    On successful implementation of the Scheme of Arrangement, the merged entity plans to embark on a Feasibility Study in 2019 for an integrated development with a construction decision to follow shortly thereafter. The likely aim of the Study will be to develop an initial minimum four to five year mine plan supporting a standalone CIL processing facility, avoiding the future use of third party toll mills in the area which reduces margin and operating flexibility. Progress has already been made by both parties in this regard with the aim of enabling a more rapid pathway to production.

    The merged group will hold a significant portfolio of advanced and greenfields exploration assets and is expected to continue to aggressively explore for resource extensions to existing mineralisation, new discoveries and review further acquisitions within the region that can add value and fit with the development strategy.

    Additional growth opportunities will also exist across other commodities from MacPhersons' 100% interest in the Nimbus silver-zinc-gold project and Intermin's multiple joint venture projects in a number of commodities including the world-class 2.6Bt Richmond vanadium project in central north Queensland.

    To view tables and figures, please visit:

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

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    State Gas Limited (ASX:GAS) hereby provides clarification following its announcement on 5 December 2018 of its initiation of the process to increase its Participating Interest in the Reid's Dome Gas Project (PL 231) to 100% in accordance with the provisions of the Joint Operating Agreement (JOA) for the PL 231 Reid's Dome Joint Venture.

    As advised on 5 December, State Gas has elected to increase State Gas's Participating Interest in the project through the provisions of the JOA which allow a Participant to acquire the Participating Interest of another Participant if that other Participant's interest in the project falls below 25%. On 4 December 2018, State Gas issued the relevant notices to commence the process to acquire the 20% interest in Reid's Dome Gas Project held by Dome Petroleum Resources Plc in accordance with the terms of the JOA.

    State Gas is aware of recent comments made by Dome to the Australian media asserting that State Gas is not entitled to acquire Dome's remaining 20% stake in the project. State Gas, via its legal advisors, has written to Dome today rejecting this assertion and confirming that the notices issued on 4 December 2018 under the JOA are valid and enforceable.

    State Gas has at all times acted both lawfully and appropriately and will continue to do so. Further updates will be provided on or before completion and settlement of these arrangements. State Gas Limited remains sole Operator and, upon completion and settlement of these arrangements, will hold 100% of the Reid's Dome Gas Project and PL 231.

    The Company looks forward to progressing the remaining test work for the Nyanda-4 well samples and entering the next phase for the Reid's Dome Gas Project.

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

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    Blackham Resources Limited (ASX:BLK) (FRA:NZ3) (OTCMKTS:BKHRF) (Blackham or the Company) is pleased to provide an update of underground drill results from the high grade free milling Golden Age Lower orebody which has confirmed the extension of mineralisation below current mining areas. From May'18 to November'18, Blackham drilled 24 underground diamond holes (3,454m) focused on extensions to the Golden Age deposit with significant positive results.


    - Drilling, mapping, mining and structural interpretation has greatly enhanced geological understanding of the high grade Golden Age mineralisation controls over the last 2 years

    - Drilling has focused on both extending the mine plan and increasing the mining rate

    - Underground core drilling has confirmed high grade depth extensions to the Golden Age Lower mineralisation below a 20m wide fault separating it from the current mining area

    - Golden Age Lower best intersections include:

    - 7m @ 7.98 g/t Au incl. 0.7m @ 71.0 g/t Au 56 g*m GARD0049

    - 7.8m @ 18.47 g/t Au 144 g*m GARD0052

    - 4.8m @ 22.21 g/t Au 107 g*m GARD0057A

    - 2.7m @ 21.33 g/t Au 58 g*m GARD0058

    - Mine planning for development of Golden Age Lower is currently well advanced

    - Mining has commenced at the Golden Age North (GAN) open pit

    - Historical mining at GAN saw mining of 27koz @ 17g/t Au within 40m of surface over a 180m strike

    - Blackham intends to drill GAN to a 200m depth over 600m of strike to assess underground mining potential

    During the Sep'18 quarter, 14 RC and core holes for 1,263m were drilled from surface to define resource extensions at the Golden Age North pit and to test the underground potential beneath the pit. Mining at GAN pit commenced in November 2018 with grade control drilling validating the drill defined resource. Blackham intends to drill GAN to a 200m depth on a 25m by 25m pattern to assess the underground mining potential.

    Bryan Dixon, Managing Director said "Blackham has progressively extended the Golden Age orebody over the last 2 years to maintain at least 6 months mine life in our highest grade orebody. Blackham is pleased to announce new drill results from the free milling Golden Age System which have identified significant extensions to mineralisation in close proximity to decline access. Based on the highly encouraging intercepts, further drilling is ongoing to support early expansion of the underground development to provide additional high-grade ore to feed the Wiluna gold plant."

    Golden Age Background and Program Details

    The Golden Age Underground mine is accessed via the Bulletin portal located only 2.5km from the 1.8Mtpa Wiluna Gold Plant. Golden Age mining commenced in the 1,890's with shallow artisanal workings along the strike extent of the Golden Age Fault. The Golden Age Fault is currently being mined from surface in the Golden Age North pit and earlier pits have been completed on both the Golden Age and Republic Faults (see Figure 1).

    The Golden Age Reef that is currently being mined underground is an oblique transfer fault largely bounded by the Golden Age and Republic Faults to the north and south respectively. Approximately 180,000oz @ 9g/t gold has been produced from the Reef to date, with strong cash flows being generated for the Company in 2018. The Golden Age Reef does not outcrop and was not mined by early prospectors.

    Mining of the Golden Age system over the last 2 years has provided Blackham with a greater understanding of the style and structure of mineralisation. With the orebody now better understood, and the mineralisation open both down dip and down plunge, mining will increasingly target the extensions.

    Drilling is aimed at maintaining a minimum 6-12 month mine life at Golden Age Reef and to significantly increase mine production. Extensive data collation (including additional structural mapping) and a review of the stratigraphic sequence, deformation and mineralising events helped prioritise drill targets. Most of the drilling was aimed at defining extensions below the zone of mineralisation currently being mined.

    Golden Age Lower Extensions

    Golden Age Lower has not been mined as it is offset from Golden Age Middle zone by a barren basalt fault (see Figure 3). The latest drill and face sampling results, combined with historical drilling, define a very significant exploration target for Golden Age Lower with mineralisation starting from the existing decline access.

    A 2,852m diamond drilling programme was completed targeting depth extensions to Golden Age (Figure 2) following on from the initial 2018 programme when 6 holes were drilled for 1,152m around the same area.

    The initial drilling returned highly encouraging results extending the zone of high grade mineralisation 150m below the current workings.

    The recently completed drilling has infilled the area and identified zones of mineralisation with similar tenor and continuity of the mineralisation being mined above.

    Republic Fault

    The Republic Fault transects the Golden Age underground mineralisation to the south. The fault is a mineralised, steeply dipping, laminated quartz rich structure potentially amenable to long hole stoping extraction. Recent geological mapping combined with the re-evaluation of existing drilling and new drill intercepts have identified the potential to mine the structure.

    Face sampling of the Republic Fault where it intersects the Calais Decline has returned potentially economic results up to 0.7m @ 22.33g/t (Figure 4 & 5). The fault varies in width 5.1m but typically averages 1.5-3m.

    The recent drilling was focussed at Golden Age and Republic mineralisation was intercepted higher in the holes in a clustered distribution. Previous results indicate the potential for higher grade zones along the structure and hence further drilling is ongoing to identify zones with the potential for economic extraction. Separately, the optimal access to the Golden Age Deeps mineralisation is potentially from the existing Calais Decline where it intersects the Republic Fault. The cost of accessing the Golden Age Deeps mineralisation could therefore be accessed by developing along the Republic structure with the mineralised fault material offsetting development costs.

    Golden Age Western Off-Set

    The recent drilling, mapping and structural reinterpretation indicates that the Golden Age Shear is offset to the south west immediately in the hanging wall and south of the Republic Fault. If defined and economic, the area can be readily accessed from the adjacent Calais Decline and established as an additional mining area (Figure 5).

    Further drilling is planned in coming months to establish the tenor and extent of this potentially substantial extension to the Golden Age Reef mineralisation.

    Underground Mining

    Blackham's strategy for the high-grade underground Golden Age free milling mining project is to expand the resource and mining rate substantially above the current production of approximately 800-1000 ounces per month.

    The successful drilling gives the company confidence that the resource base can be significantly increased following further drilling. Mine planning studies continue on the Golden Age Lower deposit to assess the options to allow multiple stoping areas and increase production. The existing Calais Decline provides cheap mining access to Golden Age Lower. Current mine planning is assuming lateral development from the Calais decline along the Republic Fault (see Figure 5), which will allow development ore to offset the lateral development costs to access the Golden Age Lenses.

    In addition, long hole stoping has recommenced in some areas of the mine where the orientation of the mineralisation is conducive to a more bulk mining method than current air-leg stoping. This is expected to increase the mine production in coming months.

    Golden Age North - Currently mining from surface

    During the Sep'18 quarter Blackham's exploration team successfully completed a surface resource definition drill programme at Wiluna. The results from the RC drilling programme indicate the likelihood for extensions to the current mine plan at several Wiluna free-milling open pits. Resource extension drilling around Golden Age North (GAN) pit indicated strong potential for additional ore along strike and below the planned pit design.

    The Indicated Resource for GAN is 450kt @ 1.6g/t for 23koz but clearly has potential to be extended 400m south east of the planned pit (see Figure 7, A$1,650/oz optimisation in blue). Grade control drilling in the top 30m across 300m of strike at the north end has confirmed the ore starts from close to surface. Mining at the GAN pit, that is only 1,500m from the plant ROM, commenced this quarter.

    Drilling the GAN deposit confirmed the higher-grade nature of this orebody in the fresh rock and potential for underground extraction with intercepts ranging from 10 to 80 gram metres. A drill programme to test the continuity of high grade mineralisation in the top 200m will commence shortly. This drill programme will target the free milling higher grade fresh rock in close vicinity to the existing underground infrastructure (see Figure 6 & 7; grey infrastructure) which is within 200m of the Stage 1 pit design.

    Golden Age System - Geological and Structural Interpretation

    The Golden Age Fault is expressed on the surface with nominal mining taking place along the fault within the Golden Age Pit. This fault trends NW-SE and dips between 75? - 85? towards the SW and is one in a series of sub-parallel similar structures that also includes the Republic and Brothers Faults. The event resulting in this deformation is identified as D2.

    The Golden Age Shear Zone is the brittle -ductile shear package that hosts the Golden Age Dolerite and assemblage of auriferous quartz veins that make up the Golden Age Reef mined from underground workings. Prior to later stage deformation along the East Lode Fault and Happy Jack-Bulletin Fault, the GA shear trends WWN-EES (280?) and dips towards the south, varying from 20? - 60?. The GA Fault and GA Shear Zone (or Reef) are not the same structure (Figure 1). It is proposed that the GA Shear Zone developed between the NW-SE (D2) faults in progressive, cyclical episodes of slip, dilation and sealing.

    At the transition from Golden Age Middle to Golden Age Lower the Reef system is separated by a large-scale fault (Figure 3). Underground mapping and drilling indicated this fault is a wide zone with reverse movement (south side up). The lithology within the fault zone is largely basalt.

    To view tables and figures, please visit:

    Milan Jerkovic
    Executive Chairman
    Office: +61-8-9322-6418 
    Bryan Dixon 
    Managing Director
    Office: +61-8-9322-6418
    Jim Malone
    Investor Relations Manager
    Mobile: +61-419-537-714
    John Gardner
    Media Enquiries
    Citadel Magnus
    Office: +61-8-6160-4901

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    YPB Group Limited (ASX:YPB) is pleased to announce that it has received a purchase order for the amount of $150,000 USD (circa $208,000 AUD) as a licence fee for an order of its proprietary VariSec Foil technology which will be applied to 11 million units of one of the world's most issued passports.

    As per announcement released 31 July 2015, YPB has a Memorandum of Co-operation in effect until June 2019, with Foilmakers Australia Pty Ltd to manufacture and sell YPB's proprietary VariSec foil under licence.

    YPB Chairman and CEO, John Houston said, "Just as each country progressively moved to e-Passports, we strongly believe that we are similarly starting to see a universal move toward our world-leading proprietary VariSec Foil as the world's largest passport issuers are beginning to adopt the technology in their next generation of passports. Our chosen route to market of IP licencing ensures ease of scaling as the volumes continue to grow."

    In accordance with ASX GN8 for LRs 3.1-3.1B the Company also advises that there are no further material conditions or information in relation to the fulfilment of the purchase order.

    About Varisec

    YPB's VariSec Foil technology has been applied to over 250 million e-Passports since its development. With an estimated 125 million new e-Passports being issued annually (International Civil Aviation Organisation estimate) by 93 countries and an additional 21 countries expected to issue e-Passports in the coming year there is a significant opportunity for YPB.

    YPB's VariSec technology is believed to be the only security foil in the global ePassport marketplace. The Foil provides an important extra level security for certainty of authenticity of passports and can be applied to many other vital government documents.

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

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    WA-focused gold exploration and development company Classic Minerals Limited (ASX:CLZ) ("Classic", or "the Company") is pleased to announce that it has received assays results from its recent RC drilling program at its Forrestania Gold Project (FGP) in Western Australia. The Company completed a total of 23 holes for 1,155m at the Kat Gap project with the aim of improving/increasing known high-grade gold mineralisation.


    - Kat Gap continues to deliver high-grade gold intercepts from shallow depth. Better results from the most recent drilling include:

    - 3m @ 38.33 g/t Au from 21m including 1m @ 111.00 g/t Au from 22m

    - 5m @ 5.61 g/t Au from 6m including 1m @ 12.00 g/t Au from 8m

    - 2m @ 7.86 g/t Au from 19m

    - 3m @ 14.10 g/t Au from 10m including 1m @ 37.40 g/t Au from 11m

    - 3m @ 9.64 g/t Au from 20m including 1m @ 25.10 g/t Au from 22m

    - 3m @ 7.73 g/t Au from 19m including 1m @ 13.00 g/t Au from 19m

    - 1m @ 17.90 g/t Au from 17m

    - 5m @ 4.07 g/t Au from 66m including 1m @ 11.50 g/t Au from 69m

    - RC drilling at Kat Gap conducted over 200m of strike focused mainly on shallow up-dip testing of recent high-grade intercepts along with strike extensions to the north. System remains open in all directions.

    - High grades and shallow nature of the gold mineralised system will enhance the economics of any future open pit mining operation.

    Drilling results from Kat Gap continued to impress with significant zones of gold mineralisation located on the granite-greenstone contact. Recent drilling at Kat Gap also showed that high-grade gold mineralisation projects very close to surface.

    Classic CEO Dean Goodwin said:

    The Forrestania Gold Project just keeps on getting better and better delivering more great results for Classic and its shareholders. I'm very excited about these shallow high-grade zones of mineralisation we have encountered. They clearly demonstrate that significant gold mineralisation is located just beneath the surface. If these shallow high-grade zones continue along strike for several hundreds of metres, they will have a major impact on the economics of any future open pit mining operation.

    The next stage for Kat Gap is to commence an aggressive RC drilling program extending the known mineralised zone north and south from our current drilling area. The plan is to focus our attention on an 800m long section of the main granite-greenstone contact where existing historical drilling is on 100m spaced lines. Our current drilling area sits right in the middle of this 800m long section. We are of the firm belief that significant gold mineralisation is lurking between these lines similar to what we have seen during the last 4 drilling programs This work should give us a pretty good idea of how good this system really is. A few deep diamond holes will also be incorporated into the program to probe at depth 200-300m below existing drill coverage. If we start seeing significant zones of gold mineralisation in these holes then the game is on.


    Classic drilled 23 holes for 1155m at Kat Gap and is pleased to confirm that 18 holes returned gold mineralisation striking in a northwest-southeast direction. The drilling has now extended the strike coverage to 200m with mineralisation open in all directions.

    The majority of the drilling was focused on testing the up-dip projection of recent high-grade gold intersections along the main granite-greenstone contact adjacent to the cross-cutting Proterozoic dyke. A few holes were also drilled 60m further along strike to the north following up on previous historical RAB and RC holes. Drill holes FKGRC035- FKGRC050 and FKGRC054 (inclusive), all tested the up-dip projection of the main contact lode. Holes FKGRC051 and FKGRC055-FKGRC057 were drilled north along strike. Better results from the shallow holes included: 3m @ 38.33 g/t Au from 21m including 1m @ 111.00 g/t Au from 22m in FKGRC039; 5m @ 5.61 g/t Au from 6m including 1m @ 12.00 g/t Au from 8m in FKGRC040; 2m @ 7.86 g/t Au from 19m in FKGRC041; 3m @ 14.10 g/t Au from 10m including 1m @ 37.40 g/t Au from 11m in FKGRC042 and 3m @ 9.64 g/t Au from 20m including 1m @ 25.10 g/t Au from 22m in FKGRC043.

    Holes FKGRC051 and FKGRC055-FKGRC057 were drilled along strike to the north testing the extent of the main granite-greenstone contact lode. All holes intersected gold mineralisation with the best result of 5m @ 4.07 g/t Au from 66m including 1m @ 11.50 g/t Au from 69m coming from FKGRC051. The next closest historical RC hole is some 100m further along strike to the north.

    Future drilling programs at Kat Gap will focus mainly on testing an 800m long section of the main granite - greenstone contact where current drill line spacings are 100m apart. Current drilling is located right in the middle of this 800m long section. Interpretation suggests that significant gold mineralisation exists between these sections similar to what has been identified in the last 4 drilling programs. Several deep orientated diamond holes to probe the system to 300m vertical below surface have also been designed.

    Previous drilling campaigns by Classic at Kat Gap have returned significant high-grade gold intercepts over approximately 140m of strike along the main granite-greenstone contact. The majority of the drilling is relatively shallow down to approximately 60m vertical depth below surface. The main area of drilling has been focussed primarily on and adjacent to the contacts of a cross-cutting Proterozoic dyke where it intersects the main granite-greenstone contact.

    At this location the gold mineralisation has been significantly enriched. Better results from this drilling include, 8m @ 19.05 g/t Au from 32m including 4m @ 28.80 g/t Au from 32m in FKGRC008; 12m @ 7.52 g/t Au from 39m including 2m @ 20.20 g/t Au from 48m in FKGRC006; 12m @ 5.39 g/t Au from 30m including 1m @ 20.80 g/t Au from 30m in FKGRC012; 10m @ 30.78 g/t Au from 28m including 2m @ 116.10 g/t Au from 31m in FKGRC018; 9m @ 8.08 g/t Au from 95m including 1m @ 62.30 g/t Au from 101m in FKGRC025; 10m @ 4.18 g/t Au from 26m including 1m @ 15.10 g/t Au from 31m in FKGRC022.

    Several deeper RC holes have also been drilled to approximately 120m to test the main contact zone at depth. These holes were primarily designed to test a potential plunge zone detected by the shallow RC holes. Better results from these holes include, 9m @ 8.08 g/t Au from 95m including 1m @ 62.30 g/t Au from 101m in FKGRC025 and 1m @ 18.80 g/t Au from 86m in FKGRC026. The plunge line is wide open along strike and down dip.

    Historical RC drilling at Kat Gap is currently on 100m - 200m line spacings. There is strong potential for additional mineralisation to be identified up-dip, down-dip and along strike, both outside of and within the existing RC drill coverage. Only about half of the 5 km long >50 ppb Au gold-in-soil anomaly has been tested by RC drilling along the granite/greenstone contact.

    Classic has planned follow up RC and diamond holes with drilling scheduled for early in the New Year.

    To view tables and figures, please visit:

    Classic Minerals Ltd
    T: +61-8-6305-0221

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    The Board of Australian communications specialist MNF Group (ASX:MNF) (FRA:M2S) is pleased toannounce it has completed the purchase of the Wholesale and Enablement Business of Inabox Group (ASX:IAB).

    MNF Group paid $34.5m for IAB's business which has been funded using its debt facility.

    Renee Halliday
    Executive Assistant to CEO
    T: +61-2-8008-8231

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    iSignthis Ltd (ASX:ISX)(FRA:TA8) subsidiary, iSignthis eMoney Ltd, trading as ISXPay(R) ("the Company"), is pleased to announce its first merchant has gone live on its own integrated and unified neobanking platform comprising principal acquiring platform for Visa, Mastercard and JCB, with fund settlements being deposited to ISXPay issued ISEMCY22 International Bank Account Numbers (IBANs).


    - First Merchant now live and processed via ISXPay's own Principal member Tier 1 connections

    - Settlement of Merchant Funds to ISXPay issued IBAN based account

    - Funds held with zero credit risk under EU's "Eurosystem" Central Banking system

    - first ASX listed fully authorised EU neobank with deposit taking & payment capabilities

    - Australian ADI facilities to follow within months.

    John Karantzis, CEO of iSignthis Ltd, said "We have passed yet another milestone, where our first EU based merchant is using our unified transactional banking, deposit functions and bank to bank transfer functions.

    The Paydentity platform is performing the identity verification, ISXPay is performing the payment processing and settlement, and is performing the journaling of the settlement deposits from ISXPay, with ISXPay executing outbound transactions. Our merchants will have full visibility of their settlement flows, monies on deposit, fees and transactions by logging into their dashboard.

    Merchants can now electronically transfer funds within the SEPA banking network to make supplier, payroll, utilities, tax, pension and other payments direct from their ISXPay EMA business IBAN facilities. We will be making use of the last few weeks of 2018 to ensure that all of our systems operate as expected, and we will be driving services and revenues with our contracted merchants from 2019. We are also now pushing hard to deploy our Australian capabilities, for which we anticipate to be making significant progress in the near future.

    Our focus as a neobank is on delivering transactional banking with deposit taking facilities to regulated entities in the EU and Australia."

    The Company has been developing its merchant and business focused neo-banking capabilities since 2015, commencing initially with its patented identity verification service on the Paydentity(TM) platform, and then progressing to being an EU/EEA authorised eMoney Institution in early 2017, followed by principal licensing of Visa, Mastercard, JCB, Diners, Discover, China UnionPay and AMEX as payment capabilities, with Eurosystem central banking facilities and SEPA going live in the last two weeks.

    The Company has also applied for an Australian ADI license directly, bypassing the 'restricted ADI' step, with APRA authorisation anticipated early Q2 2019. The Company has already been granted Australian licensing under the Reserve Bank of Australia "Card Access Regime" by Mastercard, with Amex, Diners, Discover and China Unionpay also licensed. Application for Reserve Bank of Australia ESA accounts has also been submitted.

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

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    Venus Metals Corporation Limited (ASX:VMC)(FRA:EZL) is pleased to announce the completion of a 6282m reverse circulation (RC) drilling programme at the Youanmi Vanadium Oxide Project, Western Australia.


    A total of 139 holes for 5919m was carried out on the central Youanmi Oxide Resource where nineteen separate section lines were drilled covering a zone 300m to 400m wide and along some 2000m of strike (Figure 1) . The majority of the drilling was carried out on a 40m by 80m spacing and was designed to convert part of the JORC 2012 inferred mineral resource of 110.6 million tonnes @ 0.30% V2O5 (refer ASX release dated 6 February 2015) into a large measured and indicated oxide resource. Assays are in progress.


    All drill holes were inclined at 60 Degrees north to 50m depth or until fresh rock was intersected (whichever came first). Drilling was very easy through the soft weathered oxide material, with extensive ferruginous oxide zones being intersected (Figure 1a) on all drill section lines. The results are consistent with previous geological drilling data. New RC drillhole locations together with historical drill hole locations are shown in Figure 1.

    Updated JORC 2012 resource calculations based on the combined geological logs, assays results and magnetic susceptibility readings are expected to be available in January.

    The RC drilling has delivered more than 100 tonnes of samples for further advanced metallurgical test work, to expand on the current metallurgical test work being conducted by METS.


    A further 10 RC holes for 363m on two separate lines 400m apart were drilled to test outcropping vanadiferous magnetite bands at the Kangaroo Kaves Prospect, 12 km southwest of the Central Vanadium Oxide Prospect. These holes, of a reconnaissance nature, were designed to test vanadium values in the exploration target area (combined oxide and fresh exploration target potential* for 14-15km strike length and 300m down dip of 1.0 to 1.3 Billion tonnes @ 0.25 to 0.30% V2O5 at a 0.1% V2O5 cut-off) (refer ASX release 6 February 2015).

    * "The exploration potential quantity and grade is conceptual in nature, that there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource."

    Drilling at Kangaroo Kaves was also rapid through the soft weathered oxide material, with extensive ferruginous oxide zones being intersected on both drill section lines. Assays are awaited.

    Mr Matthew Hogan, MD, Venus Metals commented "We are very pleased that the drilling was completed on time and on budget. The updated JORC 2012 resource calculation will enable us to progress the next phases of metallurgical testing and scoping studies with confidence".

    To view tables and figures, please visit:

    Matthew Hogan
    Managing Director
    T: +61-8-9321-7541 
    Barry Fehlberg
    Executive Exploration Director
    T: +61-8-9321-7541

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    Eon NRG Limited (ASX:E2E) (OTCMKTS:ICRMF) advises that it has successfully recompleted a gas well at the Silvertip Field. This leads Eon into 2019 and the announce in February of its potentially company changing drilling program following completion of technical studies which are currently under way.

    Silvertip Gas Well Recompletion

    Eon is pleased to announce that the 64-28F recompletion was a success with an encouraging 24-hour shut-in pressure of 400 psi. The initial production (IP) rate of 40 Mcf per day is an indication of skin damage between the wellbore and reservoir created from cement when the well was originally drilled. The well will be monitored and tested over the next 60 days to determine if the gas flow can be increased by implementing an acid wash to remove the cement damage. The well is now online and gas is being sold with existing production.

    Powder River Basin, Wyoming

    Work is progressing on selecting the initial well locations within Eon's 15,000 acres of Powder River Basin leases. This basin has a long history of oil production from multi-stacked pay zones.

    The Company is targeting conventional oil formations including the Dakota and Minnelusa, with low cost vertical wells that have more favorable technical risk, and which provide long term, low decline production.

    Success from drilling wells in this new acreage will be company changing, with further details to be advised to shareholders on completion of initial technical studies in February 2019.

    A range of funding options for this program are also being considered including introducing JV partners.

    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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    Platina Resources Limited ("Platina" or the "Company") (ASX:PGM) (FRA:P4R) (OTCMKTS:PTNUF) is pleased to report the findings of a Definitive Feasibility Study ("DFS") for the Platina Scandium Project ("PSP") located in central New South Wales, Australia.


    - Attractive financial return - Post-tax, real NPV8% USD 166 million (AUD 234 million), after tax IRR 29% and fast payback of 5.3 years based on average scandium oxide price of USD 1,550/kg

    - Staged production strategy - 20 tonnes/year of 99.99% purity scandium oxide growing to 40 tonnes/year as market demand increases

    - Low development capital cost - Stage 1 USD 48.1 million (AUD 67.8 million) and stage 2 USD 11.1 million (AUD 15.6 million)

    - Long life - Initial 30 year project life based on mining 33% of the Ore Reserves, with potential to significantly expand from both existing Ore Reserves and conversion of additional Mineral Resources

    - Significant opportunity to enhance project value through resource expansion and the production of by-product credits including cobalt, nickel and high-purity alumina

    The DFS has confirmed the technical and financial viability of constructing a simple, low-strip ratio, open-cut mining operation and processing facility producing scandium oxide. The positive DFS demonstrates the opportunity to create substantial long-term sustainable shareholder value at a manageable capital cost. Key highlights of the DFS include:

    - Robust financials - The DFS demonstrates a very robust financial case. Based on a mine life of 30- years, the project generates an after-tax net present value in real terms (8% discount rate) of USD 166 million (AUD 234 million), post-tax IRR of 29% and payback period of 5.3 years. The financial model incorporates an average scandium oxide price of USD 1550 /kg over the life of the project. Based on market research and discussions with end-users, the Company believes this is the price necessary to drive wider-scale adoption of scandium in alloys;

    - Low capital expenditure - The DFS is based on a processing plant designed to initially produce 20 t/y of scandium oxide at a capital cost of USD 48.1 million (AUD 67.8 million), expandable to 40 t/y of scandium oxide for a very low incremental capital cost of USD 11.7 million (AUD 15.6 million), as market demand for lightweight aluminium-scandium grows;

    - High-grade, large resource base - The strength of the PSP is the very large and high-grade scandium resources, which are amenable to simple, low-cost, open-cut mining techniques at a low waste to ore ratio (1.9:1). The DFS assumes that 33% of the available Ore Reserves are mined over 30 years, and additional Ore Reserves and Mineral Resources could provide for decades of additional production or further production expansion;

    - Conventional, well tested process route - Ore mined at Red Heart will be processed through a conventional high pressure acid leach circuit ("HPAL") to produce 99.99% high-purity scandium oxide. The process methodology has been extremely well tested through bench and pilot scale test work to confirm operating and capital estimates for the DFS;

    - Access to infrastructure - The processing facility will utilise an existing industrial site in Condobolin. This unique site provides access to existing infrastructure - labour, water, power, rail, and sealed roads - which results in lower capital costs, and simplifies the permitting and approvals process;

    - Potential for other revenue streams - Like other laterite projects using the HPAL process route, once all the minerals are in solution from the HPAL process, recovery is achievable at relatively low incremental cost, thus providing a potential future opportunity to generate cobalt, nickel, platinum and aluminium products (to make high purity alumina) and generate additional cash flow; and

    - Significant community benefit - The Company is very committed to delivering the PSP in an environmentally and socially responsible manner. The significant investment will provide jobs, training and contracts for the local communities.

    The Company is now focused on completing the Environmental Impact Assessment, Mining Licence Application, Development Applications (mine and process plant), securing offtake and project financing.

    Managing Director, Corey Nolan, commented:

    "We are very pleased with the technical and commercial outcomes of the DFS and the compelling business case to develop the Platina Scandium Project.

    While the solid oxide fuel cell industry has been the dominant consumer of scandium in recent years, scandium's greatest value lies in the functional properties it imparts when alloyed with aluminium. When used in combination with other common aluminium alloys, scandium can produce stronger, heat tolerant, weldable aluminium products. These products are being increasingly incorporated into transportation applications for light-weighting (electric vehicles) and lowering fuel efficiency requirements.

    The Company's strategy is to capitalise on this significant market opportunity and bring the Platina Scandium Project into production as quickly as possible."

    To view the DFS, please visit:

    Corey Nolan, Managing Director
    Tel: (+61) 7 5580 9094

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    Platina Resources Limited ("Platina") (ASX:PGM)(OTCMKTS:PTNUF) is pleased to announce a 5% increase in the Ore Reserve estimate for its 100% owned Platina Scandium Project (PSP) in New South Wales, Australia.

    This Ore Reserve update follows from the Mineral Resource upgrade announced on 16 August 2018, which included the results of the 2018 drilling program and completion of the PSP Definitive Feasibility Study ("DFS").

    The PSP DFS, which is the subject of a separate announcement made today, demonstrates the technical and financial viability of constructing a simple, low-strip ratio, open-cut mining operation and processing facility producing scandium oxide. The positive DFS demonstrates the opportunity to create substantial long-term sustainable shareholder value at a manageable capital cost.

    The positive DFS is considered sufficient to determine, in accordance with the JORC Code 2012, that a subset of the Measured and Indicated Mineral Resource (please see ASX announcement "Platina Scandium Project - Positive Definitive Feasibility Study", 13 December 2018) be classified as Ore Reserves - see Table 1 in link below.

    The DFS demonstrates that a viable mining and processing operation, and the infrastructure to support this, are available to develop the project. The DFS takes into account all the modifying factors considered material to the development of the project and statement of Ore Reserves. The inputs into the economic and financial analysis were based on realistic assumptions of technical, engineering, operating and economic factors. The capital and operating cost estimates were obtained from reputable consulting groups at the appropriate level of confidence for the DFS.

    Mineral Resource Estimate

    On 16 August 2018, the Company announced an updated Mineral Resource Estimate for the PSP.

    The Mineral Resource was updated in 2018 with additional drilling in two infill areas targeted for inclusion in the DFS, as well as some further re-assaying of Platina and historic drilling using a more reliable XRF analytical method to add or improve scandium analyses. The additional data included 33 drill holes for 1151 metres, and re-assaying of selected samples from 148 previous drill holes.

    Ore Reserve Estimate

    The methodology and economic criteria remain unchanged from the maiden Ore Reserve announcement on 13 September 2017, which was based on the PSP Pre-Feasibility Study (PFS) (ASX release dated 10 July 2017). Cut-off grades used for Table 1 and Table 3 in link below are well above marginal economics and have been reconfirmed by the DFS.

    To improve the plant payback, during early production only high-grade ore is planned for processing. A breakdown of high and low grade ore in Table 3 in link below indicates the grade of the high grade material available, where medium grade can be stockpiled for later processing.

    The DFS contemplates a staged development ramping up a single process train of initially 23,300 dt/y to a second stage nameplate throughput of 46,600 dt/y in year 5. The 30 year schedule will only require 1.45 Mt of the available Ore Reserve and hence will concentrate on the subset presented in Table 4. The 1.45 Mt comprises 1.30 Mt of plant feed and 0.15 Mt remaining in ore stockpiles.

    To view the full release, please visit:

    Corey Nolan, Managing Director
    Tel: (+61) 7 5580 9094

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    White Rock Minerals Ltd (ASX:WRM) wishes to advise that the podcast of an interview with its MD and CEO, Matt Gill at IMARC is now available on its website.

    This podcast can be found on the Company's website via the following link:

    Matt Gill (MD&CEO)
    Phone: +61 (0)3 5331 4644

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    Cobalt Blue Holdings Limited (ASX:COB)(OTCMKTS:CBBHF)(the Company or Cobalt Blue) advises that Non-Executive Director Matthew Hill has resigned from Cobalt Blue effective today.

    Matt has been a Director of the Company since 30 June 2017. Cobalt Blue thanks him for his contribution to the Company during his time on the Board. Cobalt Blue is in discussions with a suitably-qualified, independent, Non-Executive Director to fill the vacant position and an appointment is expected to be made shortly.

    Joe Kaderavek
    Chief Executive Officer
    Cobalt Blue Holdings Limited
    Ph: +61-2-8287-0660

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