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Articles on this Page
- 11/08/15--21:10: _ Regeneus Ltd (ASX:...
- 11/09/15--14:27: _ XPD Soccer Gear Gr...
- 11/09/15--14:29: _ Traditional Therap...
- 11/09/15--14:59: _ Raya Group Ltd (AS...
- 11/09/15--15:28: _ Orocobre Limited (...
- 11/09/15--16:27: _ Central Petroleum ...
- 11/09/15--17:12: _ Invigor Group Ltd ...
- 11/10/15--15:39: _ Regeneus Ltd (ASX:...
- 11/10/15--18:48: _ Syrah Resources Lt...
- 11/11/15--15:08: _ 99 Wuxian Ltd (ASX...
- 11/11/15--15:41: _ Triton Minerals Lt...
- 11/11/15--17:07: _ Dyesol Ltd (ASX:DY...
- 11/11/15--18:15: _ Syrah Resources Lt...
- 11/12/15--14:25: _ Triton Minerals Lt...
- 11/12/15--16:00: _ Orocobre Limited (...
- 11/12/15--16:10: _ Syrah Resources Lt...
- 11/12/15--16:10: _ Strategic Elements...
- 11/12/15--16:11: _ Invigor Group Ltd ...
- 11/12/15--16:12: _ Archer Exploration...
- 11/12/15--16:26: _ Archer Exploration...
- 11/09/15--14:59: Raya Group Ltd (ASX:RYG) Placement to Strategic Technology Investor
- 11/09/15--15:28: Orocobre Limited (ASX:ORE) Olaroz Lithium Facility Production Update
- 11/11/15--17:07: Dyesol Ltd (ASX:DYE) Study Generates LCOEs of A$0.096 - A$0.12 KWh
- 11/12/15--16:10: Syrah Resources Ltd (ASX:SYR) 2015 AGM Presentation
- 11/12/15--16:10: Strategic Elements Ltd (ASX:SOR) Nanocube Memory Ink Program
We are pleased to report that FY15 has been a productive and positive year for Regeneus Ltd (ASX:RGS). We have achieved a number of significant research and development, clinical and business milestones that have put the company in a good position to unlock value in our regenerative medicine technology and clinical assets in FY16 and beyond.
Strategic focus on Progenza
Over the last financial year we have increased our strategic focus on our Progenza allogeneic "off-theshelf" stem cell technology platform. We successfully manufactured Progenza for use in our positive preclinical study and showed that the technology is scalable by demonstrating our capacity to produce millions of doses from a single donor. This work underpinned the approval and commencement of our firstin-human Progenza trial for osteoarthritis. The first cohort of trial participants should be treated by the end of this year.
Progenza is a key technology platform for our company as it has the potential to be used as an off-theshelf treatment option for a wide range of musculoskeletal disorders, other than osteoarthritis, and inflammatory or immune-mediated conditions that have limited treatment options. Over the next year we will continue to explore how we can leverage this platform through technology and clinical partnering. In particular, we are hopeful that we can take advantage of the new and attractive regulatory regime in Japan for regenerative medicine by converting our business development initiatives over the last year into positive partnering outcomes.
We are also exploring ways with R&D partners to innovate around allogeneic cell technologies to develop next generation cell therapies.
Our success with the development of Progenza and the lack of scalability and regulatory uncertainty for our autologous HiQCell technology, lead to the Board's decision in late 2014 to focus our efforts and resources on Progenza. Our experience with the development and manufacturing of HiQCell technology, our engagement with specialist clinicians and the significant clinical data generated relating to osteoarthritis will prove invaluable as we develop and exploit the Progenza technology. The company will assess the licensing options for HiQCell technology once there is greater regulatory certainty for autologous cell therapies.
Secured cancer immunotherapy technology
We were pleased to secure the exclusive rights to develop and commercialise the human applications of a new cancer immunotherapy technology (RGSH4K) developed at the Bill Walsh Translational Cancer Research Laboratory at the Kolling Institute of Medical Research located on the grounds of Royal North Shore Hospital. The technology uses the patient's own tumour cells to create a vaccine that stimulates the patient's immune system enabling it to see the cancer cells as foreign.
We had secured rights to the animal health applications for the technology in the 2012.
We were able to translate the work done in demonstrating the safety of the technology for dogs to receiving ethics approval for a first-in-human study in May 2015. We established a tumour bank for existing and prospective tumours and achieved an important milestone in October when the first patient was successfully dosed with the vaccine. The trial is now open for recruitment.
Cells secretions technology - product development phase
We have made progress on identifying a commercial partner for our cell secretions cream for acne and other inflammatory skin conditions. Further work is being undertaken on formulation development, product stability and clinical testing. If the product development is successful then the final phase will be the scaleup of manufacturing technology.
We continued our clinical development of CryoShot for canine and equine applications. CryoShot is our first allogeneic "off-the-shelf" stem cell technology. Again, we have demonstrated our capacity to produce CryoShot at scale from a single donor.
We explored partnering options for CryoShot Canine and were pleased when we recently announced entering into a development and commercialization collaboration with a US based top 5 animal health company. Our partner will jointly fund a pre-pivotal study on CryoShot for canine osteoarthritis which has commenced this month at the University of Pennsylvania School of Veterinary Medicine. This trial will hopefully pave the way for a full FDA pivotal study.
We were encouraged by the interim results from the CryoShot Equine study at Randwick Equine Centre for early orthopaedic developmental disease in yearling thoroughbreds. Recent published interim results show that CryoShot is having a positive impact on the healing and progression of joint lesions which can lead to bone cysts in young horses. This is exciting news as it shows that cell therapy could potentially be used for early intervention or prophylactic use in human orthopaedic developmental disease.
Kvax - collecting data
As an autologous canine cancer immunotherapy, Kvax can be fast tracked for commercial applications from a regulatory perspective. To maximize Kvax's success and partnering options, our strategy is to generate tumour specific clinical data to prove up the vaccine's effectiveness. We commenced a clinical trial in the US for Kvax to treat osteosarcoma. We expect a readout of the results in Q3 FY16. We also plan to conduct other trials in common canine tumours.
Substantial increase in granted patents
We have seen a substantial increase in granted patents. 10 new patents have been granted during the year, 8 in Australia, 1 in NZ and our first patent in the US.
We now have 14 patents and 35 patent applications across 14 patent families.
Outlook and thanks
On behalf of the Board I thank the Regeneus senior management team and each of our employees and R&D partners for their hard work and commitment over the past year. 2016 is shaping up to be a turning point in the evolution of the company with a number of key R&D, clinical and commercial milestones in sight.
The Board looks forward to capitalizing on our progress and unlocking the value in our technology and clinical assets and gaining market recognition for our successes.
Finally, may I thank you, our shareholders for your support of the company and what we do and showing patience as we develop and seek to partner our regenerative medicine products.
Dr Roger Aston
To view the presentation, please visit:
Regeneus Ltd T: +61 2 9499 8010 E: firstname.lastname@example.org WWW: www.regeneus.com.au
XPD Soccer Gear Group Limited (ASX:XPD) is pleased to announce that the sales fair for the first half year of 2016 was held at the Saecy hotel in Wuyishan City of Fujian Province in early November 2015, and had produced an excellent set of results.
SALES FAIR RESULTS FOR THE FIRST HALF-YEAR OF 2016
Total orders received from its distributors for products to be delivered progressively from March of 2016 onwards show approximately 15% increase from the corresponding period of 2015. The improvement in orders is largely led by an increase in both volume and average selling price (ASP) of XPD soccer, badminton and table tennis footwear products, which remain a highly competitive product category as distributors who attended the sale fair were greatly impressed with new design and enhanced professional functions.
What is particularly encouraging is that the orders for teenage soccer footwear show significant increase thanks to school campus soccer programs in China.
Apparel and accessories also show a slight addition in volume although ASP remains flat, reflecting the intense competition in the apparel industry in China.
The results are based on the information currently available to XPD, and are not reviewed or audited. The data does not constitute, represent or indicate the full picture of XPD's total revenue or financial performance and may be subject to change and adjustment.
T: (03) 9909 7412 E: email@example.com E: firstname.lastname@example.org
Traditional Therapy Clinics Ltd (ASX:TTC) Investor Presentation. Please find in link below, an investor presentation that will be given by the Chairman and Chief Financial Officer to investors over the course of the next two weeks.
To view the presentation, please visit:
Traditional Therapy Clinics Ltd T: +61-2-8075-4641 F: +61-2-8075-4550 WWW: www.ttc-ltd.com
Further to the ASX release of 23 October 2015 in relation to the proposed acquisition by Raya Group Ltd (ASX:RYG) ("Raya" or "the Company") of Xped Holdings Ltd ( Xped) , Raya is pleased to announce that it has completed a private placement to an Asia based strategic technology investor raising $600,000.
"The Company has been inundated with interest by a number of highly reputable groups offering to assist the Company with its future funding requirements. This is testament to Xped's technology and its robust patents that are securing its position in the lucrative Internet of Things (IoT) sector", the Company's chairman Mr Athan Lekkas said.
The Company will issue 30,000,000 shares at a price of 2c per ordinary share and proceeds will be applied in meeting usual due diligence, transaction and other costs associated with completion of the acquisition of Xped.
The investor has agreed that of the placement, 15 million shares will be subject to voluntary escrow restrictions. The escrow provision on these shares will remain in place until the completion by the Company of the purchase of Xped and compliance by Raya with chapters 1 & 2 of the ASX Listing Rules, expected in the latter part of Q1 in 2016. (Readmission Date).
Additionally, subject to obtaining shareholder approval for the Xped transaction and as part of the strategic relationship, Raya has agreed to issue a further 10,000,000 shares for no additional consideration to the strategic investor. The investor has agreed that these further shares will be subject to escrow for a 24 month period from the Readmission Date. Importantly, these shares will only be issued upon the successful completion of the Xped transaction and the recompliance with chapters 1 & 2 of the ASX Listing Rules.
Raya continues to progress the acquisition of Xped and work is advancing on the preparation of both the meeting materials to consider approval of the acquisition and the prospectus. It is the intention of the Company that the existing shareholders will be afforded a priority entitlement in respect of participation in any contemplated raising under a prospectus. Raya will provide further details over the coming weeks.
Xped Inquiries: John Stefanac CEO - Xped Holdings Limited M 0438 040 304 E email@example.com www.xped.com Raya Group Inquiries: Company Secretary T 03 9642 0655 E firstname.lastname@example.org Company Advisor: Faldi Ismail Otsana Capital M 0423 206 324 E Xped@otsana.com Media Inquiries: Asher Moses Media & Capital Partners M 0438 008 616 E email@example.com
Orocobre Limited (ASX:ORE) (TSE:ORL) wishes to advise on production for October at the Olaroz Lithium Facility.
Production continued to rise in October with 316 tonnes of lithium carbonate produced versus a forecast of 300 tonnes. This is an improvement on the 256 tonnes produced in September and 143 tonnes produced in August. The company will provide an update on the project and the debottlenecking process later in the month. Managing Director, Richard Seville commented; "It is good to see our production continue to increase and this is continuing into November. This is reflecting both debottlenecking and improvements in operating practice".
Richard Seville Managing Director T: +61 7 3871 3985 M:-+61 419 916 338 E: firstname.lastname@example.org David Hall Business Development Manager T: +61 7 3871 3985 M: +61 407 845 052 E: email@example.com North America James Calaway Chairman M: +1 (713) 818 1457 E: firstname.lastname@example.org
Central Petroleum Limited (ASX:CTP) has agreed to place 55,307,843 shares at $0.19 per share with institutional investors in Australia and Hong Kong raising circa $10.5 million gross. The $0.19 issue price represents a 20.7% discount to the 5-day VWAP.
Mindful of the support of our many retail shareholders, existing shareholders will also have an opportunity to participate in the capital raising through a $10.5 million security purchase plan ("SPP") which the Company intends to offer. The $10.5 million maximum gross equates to around 7 - 8% of the total SPP funds which may be raised if all shareholders participated fully. If the SPP is oversubscribed participants will have their application amount scaled back at the discretion of Central. The record date to participate in the SPP will be 9 November 2015. Details of the non-underwritten SPP will be provided in due course with pricing as close as permitted by the ASX to the Placement issue price.
The proceeds from the Placement and SPP will be allocated towards progressing the previously announced reserves upgrades and payment of the Mereenie acquisition commitments due in June 2016 together with normal Company expenses. Patersons Securities Limited is acting as Lead Manager to the Placement and SPP.
"This capital raising will support Central in continuing with its reserves work program and field development in anticipation of the NEGI pipeline and go towards satisfying the Company's funding requirements for the acquisition of the Mereenie field", said Richard Cottee, Managing Director, Central Petroleum Limited.
"The Company believes that the NEGI pipeline is practically certain to occur and wishes to maximise the reserves at our producing fields so that when the pipeline is commissioned Central can maximise its throughput through NEGI", Mr Cottee said.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OF AMERICA.
Central Petroleum Limited T: +61 7 3181 3800 F: +61 7 3181 3855 E: email@example.com WWW: www.centralpetroleum.com.au Media Enquiries: Martin Debelle Citadel-MAGNUS T: +61 2 8234 0100 M: +61 409 911 189
Invigor Group Ltd (ASX:IVO) are pleased to provide a Company update and interview with the Executive Chairman and CEO Mr. Gary Cohen.
Executive Chairman & CEO Gary Cohen will discuss:
- Invigor's proposed acquisition of Condat AG
- Recent board and management changes
- Company outlook
Invigor Group announced on 15 October 2015 that it proposed to acquire German smart media specialist firm Condat AG for $4.5m, subject to shareholder approval. The company will convene an Extraordinary General Meeting on 1 December 2015 to allow shareholders to vote on the acquisition, as well as other items of business. Why is it a good move for Invigor?
Executive Chairman Gary Cohen
Our proposed acquisition of Condat AG has the potential to be very exciting for Invigor as it would allow us to significantly strengthen our offering, particularly for the Insights Visitor platform. Condat is a smart media and mobility solutions provider that has developed intellectual property (IP) that complements Insights Visitor and would allow us to provide an end-to-end big data solution with targeted content as well as demonstrate significant cost synergies.
Condat has a projected revenue of at least $7.0m for 2016 with an operating EBITDA of approximately 15%. Given that Condat is a well-established Berlin-based company with clients that include Germany's major public broadcasters and key private outlets, the acquisition of Condat would also provide Invigor with a springboard to European markets, giving us a massive opportunity for potential growth of our Insights range. There are significant cost synergies available through the proposed acquisition, allowing Invigor to develop its business plan at minimal additional cost using the valuable knowledge and tech savvy prowess that Condat offers. Further, the acquisition would be earnings accretive.
What are the terms of the acquisition?
Executive Chairman Gary Cohen
Invigor proposes to acquire all issued shares in Condat, with $2.25m payable in cash on terms and the remainder in IVO scrip at 8.5c per share. The consideration is subject to adjustment for Condat's net tangible assets at 31 October 2015 with any adjustment impacting the number of shares to be issued. Invigor will pay $500,000 cash on completion, subject to shareholder approval, with the balance of $1.75m deferred until December 2016 subject to any holdback of up to $800,000 for any warranty claims which may arise. The shares will be issued and placed in escrow for up to 18 months with a progressive release commencing after 12 months. We believe these terms are excellent and beneficial to all shareholders. The proposed acquisition represents a very exciting opportunity for Invigor to grow and develop its business.
There has been a number of changes to the Invigor Board in recent weeks including the resignation of Managing Director Gary Munitz, can you provide some background regarding this?
Executive Chairman Gary Cohen
Gary Munitz had been with Invigor since July 2014 following the acquisition of his company, Global Group. Gary's role was initially Head of Product before being appointed Managing Director in July this year, reporting to me as Executive Chairman. Since his appointment we have rolled out our Insights and Shopping Ninja product suites and are now heavily focused on the sales and marketing of these. My strong view was we needed to invest further in building up the sales and marketing of our products and this required a different skill set.
How do you envisage his departure affecting the business?
Executive Chairman Gary Cohen
We don't believe Gary's resignation will have a material impact.
On the product side we have established a very capable team in Sydney, Melbourne and India who are fully committed to delivering a world class solution. Shortly, we will have the resources of the team in Germany who have a strong R&D centre of excellence based in Berlin.
We have started a recruitment process to bring in a strong technical lead which we will appoint in due course.
On sales and revenue we have a team in Sydney that are currently focused on converting the existing pipeline of customers and we have every confidence that they will be successful in doing that.
Two directors also departed recently, can you explain more about this?
Executive Chairman Gary Cohen
I am bound by confidentiality and restricted in what can be communicated. What I can say is the current Board is focused on delivering shareholder value and we feel the decisions made that led to these directors leaving the company were consistent with that objective.
We have appointed Anthony Sherlock as an independent director, and he has an impressive background as a director of public companies. We will look to further refresh our Board with the right mix of skills, in particular information technology and business.
What is Invigor's strategy for moving forward and how can you demonstrate shareholder value?
Executive Chairman Gary Cohen
The market wants to see that the management changes have not affected our plans which were outlined at the recent TechKnow Conference. In particular they want to understand that our sales and revenue targets are on track and not materially altered.
In respect of our sales of Insights solutions they are continuing to show strong growth. We have signed a number of major clients in recent months, including international brands, with more than 35 customers using or trialing our products at the end of the September quarter compared to just three customers at the same time in the previous quarter. This includes a recently signed major consumer appliances retailer to use the Insights Retail platform and in addition we are currently working on closing a number of major brands and retailers before Christmas. These expected new clients will underpin the growth in recurring revenue we spoke about at the TechKnow conference, where we said that we expected recurring revenue for Insights Retail to be around $1m by the end of March 2016.
On Insights Visitor we have made some solid progress. We have a number of deployments at the Sunshine Coast Council. We have since been in discussions with several other Councils for a similar solution. Further, we are seeing significant engagement with some major venue operators and are quietly confident that some of these will materialise into sales in the coming weeks.
In addition, just this week we have launched the iOS version of our Shopping Ninja app. We are very excited about this as it will make the product available to many more users on a range of mobile devices. Technical advancements have been implemented since its launch in May, providing users with better performance. Shopping Ninja has now been downloaded by more than 11,000 users and we've had more than 70,000 visitors to the website since its launch in May this year. We expect to further improve on these figures as we concentrate on sales and marketing opportunities.
Finally, we believe that Condat will also deliver some material opportunities for revenue growth in the near term. We expect to be able to update the market about that shortly.
Gary Cohen Executive Chairman and CEO Invigor Group Ltd T: +61 2 8251 9600 E: firstname.lastname@example.org WWW: www.invigorgroup.com.au Matthew Wright NWR Communications T: +61 451 896 420 E: email@example.com
Regeneus (ASX:RGS), a clinical-stage regenerative medicine company, today announced that the Australian Patent Office has granted a key patent covering the use of the company's allogeneic "off-the-shelf" stem cell technology for the treatment of osteoarthritis and other inflammatory conditions for human and animal applications.
Australian patent number 2012313352, entitled "Stem cells and secretions for treatment of inflammatory conditions" provides commercial rights in Australia through to 20 September 2032. This patent is also being pursued for grant in other key territories including the USA, Japan and Europe.
The patent underpins the company's Progenza stem cell technology which is a combination of mesenchymal stem cells and secretions from the cells. The secretions are the molecules (including cytokines and growth factors) that are secreted by mesenchymal stem cells (MSCs). Regeneus has developed technology and protocols for the production of secretions from adipose (fat)-derived MSCs and has shown that a combination of cells and secretions has a more powerful therapeutic effect than cells alone.
This patent is complimented by another Regeneus Australian patent granted in December 2014 that uses the company's secretions technology to maintain viability and functionality of MSCs during the freezing and thawing process.
Regeneus' Progenza technology is the subject of a Phase 1 study for the treatment of knee osteoarthritis in humans, which commenced in Q1 FY16 and is scheduled for final safety readout in Q4 FY16.
Regeneus has 49 patents or patent applications across 14 patent families, which provides a substantial Intellectual Property position for the company's product pipeline.
Sandra McIntosh Company Secretary and Investor Relations T: +61 2 9499 8010 E: firstname.lastname@example.org Regeneus Ltd T: +61 2 9499 8010 E: email@example.com WWW: www.regeneus.com.au
Syrah Resources (ASX:SYR) (OTCMKTS:SYAAF) is pleased to announce that it has signed an exclusive agreement with Morgan AM&T Hairong Co., Ltd (Morgan Hairong) to license its proprietary spherical graphite coating technology.
- 20 year, exclusive licensing agreement signed with Morgan AM&T Hairong Co., Ltd (Morgan Hairong) for its proprietary spherical graphite coating technology
- Morgan Hairong is the second largest coated spherical graphite producer in the country and is a recognised technical leader in this field, supplying the largest and fastest growing Chinese battery producers
- Syrah will have the capability to operate an integrated supply chain from mine to battery anode quality material
- Extensive test work conducted by Morgan Hairong to date has demonstrated the superior, consistent qualities of Syrah graphite concentrate for lithium ion battery applications
Syrah Managing Director, Mr. Tolga Kumova commented: "This licensing agreement represents a major milestone in Syrah's spherical graphite supply chain development. Morgan Hairong is a recognised technical leader in the production of graphite materials for anodes used in lithium ion batteries for consumer electronics and electric vehicles. Securing exclusive access to this technology will provide Syrah with a significant competitive advantage in securing offtake agreements with lithium ion battery producers."
Morgan Hairong is based in China and is the second largest coated spherical graphite producer in the country. The company's existing customers include the largest and fastest growing battery producers in China and plan for a significant expansion in production capability, in order to satisfy the expected growth in coated spherical graphite demand in the country. Morgan Hairong has the capability to supply coated spherical graphite for a wide range of lithium ion battery applications including electric vehicles, grid storage and consumer electronics.
The technology licensing agreement has a duration of 20 years and grants the Syrah exclusive right to use Morgan Hairong's proprietary spherical graphite coating technology globally (excluding China) in any potential Spherical Graphite Project developed by Syrah.
Subject to Syrah shareholders approving the refresh of the Company's placement capacity under ASX Listing Rule 7.1 at the upcoming AGM (or otherwise approving the proposed share issue), Syrah will issue Morgan Hairong, as consideration, US$968,000 of fully paid ordinary shares to be issued in two 50% tranches - the first tranche will be issued within 30 days of execution of the agreement and the second tranche within 2 weeks of the parties agreeing that Syrah is ready to begin commercial production of spherical natural graphite product.
The number of shares to be issued under each tranche will be calculated based on a 15% discount to the volume weighted average price of Syrah shares for the three-month period prior to the date on which the first tranche of shares is issued. The shares will not be issued to a class of Syrah shareholders, and it is not expected that shareholder approval will be required for the share issue. Upon issue, the shares will rank equally with existing shares.
Morgan Hairong will also be entitled to a royalty on all future gross sales of coated spherical graphite by Syrah.
Morgan Hairong General Manager, Madam Lin commented: "Our company has been working closely with Syrah in regards to its spherical graphite development for over 10 months. Based on our extensive test work, we are very impressed with the quality of Balama natural graphite and the superior conductive characteristics of Balama spherical graphite coated using our proprietary technology. We look forward to a long term and fruitful relationship with Syrah."
Securing exclusive access to Morgan Hairong's spherical graphite coating technology will give Syrah the capability to operate an integrated supply chain from mine to battery anode quality material (refer Figure 1 in link below).
Syrah believes there is potential for significant potential value accretion from further downstream processing of natural flake graphite. In June 2015, Syrah released the results of a Preliminary Economic Assessment for a 25,000 tpa Coated Spherical Graphite Facility based in the United States (refer ASX announcement dated 18 June 2015). From test work performed to date, there are a number of aspects which support Syrah having compelling competitive advantages:
- Production yields from existing spherical graphite operations are typically in the range of 30% to 40%; Syrah's test work to date has indicated that it can achieve a production yield of 40% to 60%, to produce various size fractions of spherical graphite
- Graphite shavings from the spheriodisation process is currently treated as waste in existing spherical operations. Syrah intends to produce high quality recarburisers and other potential high margin products from these graphite shavings which will generate additional revenue streams, and is currently undertaking test work in relation to this development
- Syrah will be using +325 US to -100 US mesh graphite as feed for its potential Spherical Graphite Project. The -100 US mesh graphite currently used as feed material in existing spherical operations is typically less than 95% total graphitic carbon (TGC). Metallurgy test work to date has indicated that a concentrate grade of at least 95% TGC can be achieved for Balama +325 US mesh to -100 US mesh graphite. A higher graphite feed grade will reduce acid consumption during the chemical purification process and reduce operating costs.
To view figures, please visit:
Tolga Kumova Managing Director Syrah Resources Ltd Office contact - +61 3 9670 7264 Mobile contact - +61 421 707 155 Email - firstname.lastname@example.org
99 Wuxian Limited (ASX:NNW) (“99 Wuxian” or “the Company”) is pleased to provide a business update for the month of October 2015.
- Incentive Cloud Service contract signed with Ping An Property & Casualty Insurance Company of China Ltd, China’s second largest property and casualty insurer
- iBenefit contract signed with Rongzi.com, a one-stop online financing platform for small and medium sized enterprises across China
New Incentive Cloud Service contract
99 Wuxian will provide its Incentive Cloud Service (“ICS”) platform to automotive insurance customers of Ping An Property & Casualty Insurance Company of China Ltd (“Ping An P&C”).
99 Wuxian’s ICS platform will enable customers to redeem loyalty points earned through the purchase of automotive insurance via Ping An P&C’s website or mobile app for a range of value added services, such as prepaid fuel cards. The agreement will allow Ping An P&C to improve its level of customer satisfaction and generate increased customer loyalty.
Ping An P&C is the second largest provider of property and casualty insurance in China with an approximate market share of 20 per cent. The company which operates as a subsidiary of Hong Kong Stock Exchange listed Ping An Insurance (Group) Company of China Limited has a nationwide presence through 41 branches and over 2,200 business outlets.
New iBenefit contract
99 Wuxian has entered into a contract to provide Rongzi.com with its employee loyalty management platform, iBenefit. Rongzi.com is a one-stop online financing platform for small to medium enterprises across China which employs more than 1,000 people across 7 cities. 99 Wuxian will enable the company to manage its employee benefit and incentive program in a standardised manner that will minimise cost, increase efficiency and improved employee retention.
To view the release, please visit:
99 Wuxian Ltd WWW: www.99wuxian.com
Triton Minerals Limited (ASX:TON) (Triton or Company) is pleased to announce that the Company will be offering eligible shareholders the opportunity to acquire fully paid ordinary shares in the Company (Shares) through a pro rata non-renounceable entitlement issue of one (1) Share for every five (5) Shares held by eligible shareholders on the record date, which under the indicative timetable is 27 November 2015, at an issue price of $0.15 per share to raise up to $11,296,483 (before costs), with each eligible shareholder offered one (1) free attaching option for every two (2) Shares subscribed for under the offer (Entitlement Offer). The Options are exercisable at $0.20 each and expire on 16 March 2017 and are expected to be listed subject to compliance with ASX Listing Rules.
In accordance with the ASX Listing Rules, eligible shareholders have been determined to comprise those shareholders with a registered address in Australia, New Zealand and the United Kingdom. Up to 75,309,885 Shares will be issued pursuant to the Entitlement Offer if it is fully subscribed.
GMP Securities Australia Pty Limited has agreed to partially underwrite the Entitlement Offer to a value of $4 million, subject to conditions precedent, termination events and other terms and conditions customary for an underwriting agreement of its nature.
Triton intends to apply the funds raised under the Entitlement Offer towards:
a) activities to define a resource at the P66 zone of Nicanda Hill at the Balama North project in the Cabo Delgado region of Mozambique;
b) activities to define a resource at the Ancuabe project in the Cabo Delgado region of Mozambique;
c) expansion of the definitive feasibility (DFS) study to include the P66 zone of Nicanda Hill, Ancuabe and the joint venture manufacturing facilities in Mozambique and China;
d) commencement of construction of the joint venture manufacturing facility in China with JV partner Yichang Xincheng Graphite Co. Ltd (YXGC); and
e) offer costs and general working capital.
Brad Boyle CEO & Managing Director T: + 61 8 6489 2555 E: email@example.com Paige Exley Company Secretary T: + 61 8 6489 2555 E: firstname.lastname@example.org
Dyesol Ltd (ASX:DYE) (FRA:D5I) recently announced it had reached an agreement with ARENA to receive $450,000 funding support to progress its Perovskite Solar Cell (PSC) technology towards scalable manufacture and mass commercialisation. While the critical key performance targets relate to achieving targets of efficiency and durability for our PSC technology, the program also involves a number of other important deliverables.
The first of these deliverables is analysing and reporting on the Levelised Cost of Electricity (LCOE) for PSC PV technology when large-scale manufacture is achieved. Dyesol is very pleased to advise that this initial report is to be submitted for ARENA consideration.
The results confirm that PSC PV technology has the potential to be a highly disruptive technology with the prospect of achieving highly competitive energy costs once large-scale manufacturing is achieved.
Importantly, this modelling assumes zero carbon or tax credits and no feed-in tariff support.
The modelling is based on a production facility of 100MW located within Australia. This is a modest and economically feasible size compared to PV manufacturing facilities developed elsewhere. Production costs were calculated using a PSC model developed by Dyesol and the extensive data we have generated during our scale up activities.
LCOE costs were calculated using ARENA’s LCOE calculator developed for large-scale solar installations. The LCOE modelling is based on developing a standalone 20MW solar PV facility in three different locations, namely Geraldton, Nyngan and Canberra districts. The modelling was undertaken for panel efficiencies of 10%, 12% and 14%. This is reasonable considering laboratory test efficiencies currently exceed 20%, the steep trajectory of improvement and the considerable progress Dyesol is achieving in scaling up the technology.
Key findings of this study include:
- The low manufacturing cost structure of PSC technology is reflected in the forecast delivered panel costs in the range of A$0.21/Wp - A$0.27/Wp depending on efficiency. This is highly competitive with competing 1st and 2nd generation PV technologies with quoted competitive costs typically in the range of A$0.56-$0.70/Wp (US$0.40 - $0.50c/Wp).
- Indicative LCOE figures for the three sites modelled are:
o Geraldton $96.41 - $105.84/MWh
o Nyngan $100.80 - $110.50/MWh
o Canberra $109.12 - $119.62/MWh
To view the release, please visit:
Dyesol Headquarters: Tracy Benillouz Investor Relations and Marketing Manager Tel: +61(0)2 6299 1592 Email: email@example.com Germany & Europe Eva Reuter Dr Reuter Investor Relations Tel: +49 177 605 8804 Email: firstname.lastname@example.org
Syrah Resources (ASX:SYR) (OTCMKTS:SYAAF) is pleased to announce that it has signed a Product Sales Agreement and a Marketing Agreement with Morgan AM&T Hairong Co., Ltd (Morgan Hairong) for the sale and marketing of uncoated and coated spherical graphite domestically within China.
Morgan Hairong is the second largest coated spherical graphite producer in China, with customers that include the largest and fastest growing battery producers in the country. The company has plans for a significant expansion in production capability in order to satisfy the expected future growth in demand for coated spherical graphite. Morgan Hairong has the capability to supply coated spherical graphite for a wide range of lithium ion battery applications including electric vehicles, grid storage and consumer electronics. Morgan Hairong has been working closely with Syrah in regards to its spherical graphite development for over 10 months.
Syrah Managing Director, Mr. Tolga Kumova commented: “We are extremely excited to have signed our first product sales and marketing agreements for Balama spherical graphite. Morgan Hairong is an established producer and recognised technical leader in the field of natural graphite anode materials for lithium ion batteries. These agreements represent a strong vote of confidence for Balama spherical graphite in China, which is currently the largest and fastest growing lithium ion battery market. Syrah is also in discussions with other parties around the world in relation to further spherical graphite offtake agreements, and we look forward to finalising these in the future.”
The Product Sales Agreement has a duration of 3 years and will be for 2,000 tpa. Morgan Hairong intends to coat Balama spherical graphite at its facility in China for sale domestically. Prices will be negotiated quarterly between Syrah and Morgan Hairong based on market prices which have prevailed in China during the preceding three months.
The Marketing Agreement has a duration of 3 years and will be for a total of 7,000 tpa (consisting of 5,000 tpa of uncoated spherical graphite and 2,000 tpa of coated spherical graphite). Under this agreement, Morgan Hairong will market Balama spherical graphite to lithium ion battery producers headquartered in China. Morgan Hairong will also receive a commission based on the gross sales price of the Balama spherical graphite that it markets.
Morgan Hairong General Manager, Madam Lin commented: “We strongly believe that the Chinese electric vehicle will experience tremendous growth over the next 5 years. As such, we are very pleased to be partnering with Syrah to supply high quality spherical graphite into the Chinese market in order to meet the anticipated significant demand.”
Chinese electric vehicle market
During the last few years, the Chinese central government has increasingly made the development of mass-market electric cars a strategic priority as part of broader plans to take the lead in automotive technology, curb pollution and reduce dependence on imported oil. Initiatives undertaken to date include:
- Subsidies for private buyers of more than $25,000 on an all-electric battery car and more than half that on a plug-in hybrid (Source: www.autonewschina.com)
- Electric car owners in Beijing will have complete freedom to drive whereas under the current policy, internal combustion engine vehicles with odd and even license plates are banned from the city’s roads on alternate days (Source: Wall Street Journal)
- Subsidies aimed at speeding up the building of electric car charging stations, targeting sufficient infrastructure to handle 5 million plug-in vehicles by 2020 (Source: www.bloomberg.com)
- A requirement for all newly-built residential buildings to have charging facilities or set aside space for them (Source: www.bloomberg.com)
- More stringent fuel economy rules in a bid to force automakers operating in China to introduce more electric cars (Source: www.autonewschina.com)
- Encouraging global automakers operating in China to share technology with their local partners (Source: www.autonewschina.com).
The country has also encouraged and opened its auto industry to technology companies to invest which have resulted in more than half a dozen Chinese-funded electric vehicle startups, backed by multibillion dollar companies such as Baidu, Alibaba, Xiaomi, Tencent, and LeTV (Source: www.autonewschina.com).
Battery producers operating in China have also responded accordingly:
- In September 2015, Samsung SDI became the first global battery producer to construct an electric vehicle battery plant and initiate mass production in China. The Xi’an based plant has a capacity of approximately 40,000 electric cars per year and has finalised battery supply agreements with 10 local automobile companies. In preparation for increased market demand in the future, Samsung SDI will also invest US$600 million into the Xi’an battery plant until 2020 and aim to achieve 1 billion USD in sales (Source: Business Korea)
- LG Chem Ltd is currently constructing a battery plant in Nanjing that is expected to be completed in Q1 2016 (Source: Benchmark Minerals). This plant will produce as many as 50,000 battery packs for electric vehicles per year (Source: Korea Times). Over the next five years, the company plans to boost annual production capacity to 200,000 batteries for electric vehicles (Source: Times)
- In March 2015, Chinese automaker BYD Co Ltd, announced that it plans to add 6 GWh of battery production over next three years, and hopes to continue adding at that pace subsequently, subject to demand. This means that the company could ramp up from 10 GWh capacity at the end of this year to about 34 GWh of batteries by the beginning of 2020 (Source: www.reuters.com)
- In September 2014, Foxconn Technology Group announced that it will invest at least 5 billion yuan (US$814 million) into its battery plants in northern China’s Shanxi province (Source: www.bloomberg.com)
To view figures, please visit:
Tolga Kumova Managing Director Syrah Resources Ltd Office contact - +61 3 9670 7264 Mobile contact - +61 421 707 155 Email – email@example.com
Triton Minerals Limited (ASX:TON) ("Triton", "the Company") provides the opportunity to listen to an audio webcast with Brad Boyle, Chief Executive Officer and Managing Director in a presentation titled:
"Triton to Raise $11m to Advance TMG"
The webcast will be made available on the Broadcast Radio Australia website. To listen to the webcast, copy the following details into your web browser:
The presentation details are as follows:
Speaker: Brad Boyle, CEO & Managing Director
Live date: Friday, 13 November 2015 10.00am AEST
Brad Boyle CEO & Managing Director Tel: + 61 8 6489 2555 Email: firstname.lastname@example.org
Orocobre Limited, (ASX:ORE) (TSE:ORL) is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with Bateman Advanced Technologies (BAT), a subsidiary of Tenova S.p.A, a worldwide supplier of advanced technologies, products and engineering services.
BAT has developed world leading proprietary technology for the production of lithium salts including lithium hydroxide directly from brines.
The BAT process named LiSXTM is expected to facilitate the production of lithium hydroxide for a cost that is targeted to be in the bottom quartile of current lithium hydroxide producers.
The market demand for lithium hydroxide is increasing. Aside from traditional industrial uses a number of rechargeable battery manufacturers are now utilizing lithium hydroxide in their products.
Sale prices for lithium hydroxide have also increased and are now in the range of US$7,500 to US$8,000 per tonne. Lithium carbonate prices are now over US$6,000 per tonne.
Terms of the MOU
The MOU sets out the basis on which the parties have agreed to jointly work together in a staged process towards the development and ultimate commissioning of a large scale lithium hydroxide plant capable of producing between 15,000 tpa to 25,000 tpa of lithium hydroxide monohydrate directly from brine (concentrated or otherwise) utilising proprietary technology developed or enhanced by BAT.
Under the terms of the MOU the parties will work together through the following stages:
- Stage 1: Mini Pilot Plant (commencement by October 31, 2015). During this first stage the parties will jointly work together to construct a small scale pilot plant to be located at the premises of BAT in Israel with the objective of better refining the design parameters of a pilot plant to be located at an Orocobre site.
- Stage 2: Pilot Plant (commencement by March 31, 2016). If results from the mini pilot plant are favourable the parties will jointly work together to construct a pilot plant. At this stage Orocobre has not determined the location for the pilot plant. The pilot plant will be capable of producing up to 2 tonnes per month of lithium hydroxide monohydrate.
- Stage 3: Feasibility Study (commencement by December 31, 2016). If the results of Stage 2 are favourable, Orocobre will decide if the parties proceed to Stage 3 to produce a definitive feasibility study (DFS) for the construction of the commercial plant.
- Stage 4: Commercial development of an industrial plant capable of producing between 15,000tpa and 25,000tpa of lithium hydroxide monohydrate (execution by June 30 2017). BAT will provide intellectual property, design services, licenses and specialist equipment and potential construction services on a lump sum basis.
At the end of each stage Orocobre will make an assessment as to whether or not to proceed to the next stage.
Exclusivity Arrangements in Argentina
The parties agree to the following Exclusivity Period.
Subject to the commencement of the various stages set out above BAT will not provide to any party, except Orocobre, a license to use the BAT intellectual property in Argentina for the purposes of commissioning a commercial lithium hydroxide plant until 30 Sep 2019. The terms set out in this MOU hereby form the basis of what will become a binding agreement, and are intended to be binding until the execution of a further more detailed agreement that the parties may execute on the completion of Stage 1.
Commenting on the MOU Orocobre Managing Director Richard Seville said "We are very pleased to be entering into this partnership arrangement with Tenova Bateman to develop and trial a low cost production process for lithium hydroxide that is an important component of the Company's future growth strategy. The growth profile of the battery market and subsequent demand for lithium hydroxide is very robust and will complement the existing lithium carbonate operations"
About Bateman Advanced Technologies
Bateman Advanced Technologies is part of the Tenova Mining Division of Tenova and offers advanced solvent extraction solutions and proprietary technologies for the mineral and metals industries, complemented by in-house state-of-the-art laboratory and pilot plant facilities. Tenova is a worldwide supplier of advanced technologies, products and engineering services for the metals and mining and minerals industries.
Richard Seville Managing Director T: +61 7 3871 3985 M: +61 419 916 338 E: email@example.com James Calaway Chairman M: +1 (713) 818 1457 E: firstname.lastname@example.org David Hall Business Development Manager T: +61 7 3871 3985 M: +61 407 845 052 E: email@example.com
Syrah Resources Ltd's (ASX:SYR) (OTCMKTS:SYAAF) vision is to be the leading supplier of superior quality graphite products, working closely with our customers and supply chain to innovate and bring enhanced value to industrial and emerging technology markets globally.
- Feasibility Study confirms the world class potential of the Balama Project
- Low cost producer of superior quality graphite products
- Targeting "traditional" industrial graphite markets and emerging technology markets
- Development activities well underway
- Production ramp up in 2017
To view the 2015 AGM Presentation, please visit:
Syrah Resources Ltd T: +61 3 9670 7264 E: firstname.lastname@example.org WWW: www.syrahresources.com.au
Strategic Elements (ASX:SOR) is pleased to report testing has now commenced on a memory ink prototype for the response speed, operation voltage, endurance and other functions to determine performance and enable comparison with world leading commercialised printed memory technologies.
- A successful result would showcase the global disruptive potential of the Nanocube memory ink.
- The Company believes there is no commercialised printable memory technology with the potential of the Nanocube technology.
- Exact testing completion date is uncertain but will occur within three weeks.
The Nanocube technology has potential in traditional segments of the memory market, but development is at first strategically focusing on memory applications that leverage a liquid solution - our core differentiator.
Printed Electronics (PE) is currently a multi-billion dollar market and is set to grow to USD 78 Billion by 2023. This number will increase rapidly if other industries such as the building industry, textiles, military etc. are able to incorporate electronics into existing products for the very first time.
As ink is the blood of the printing industry, the development of high performance memory ink would revolutionize it. The Nanocube ink has been designed to use a type of technology (RRAM) that can enable memory to operate at extremely fast speeds whilst requiring less power.
The test results being delivered at any time over the next three weeks will also report on some RRAM aspects of the Nanocube ink. Prototypes have been fabricated via drop coating at UNSW. Additional tests are also being conducted to determine whether the Nanocube ink can be printed onto silicon, glass and plastic materials using an inkjet printer.
Background 100% owned Australian Advanced Materials (AAM) has an exclusive global licence for the technology from UNSW and has contracted the materials group at the UNSW School of Materials Science and Engineering to assist in developing a nanocube memory prototype, improving the technology and creating new intellectual property.
- Nanocube memory technology is based on RRAM, the type of memory technology forecast to replace flash memory, which is reaching its limits.
- RRAM allows faster, less power hungry, more reliable, cheaper and more scalable memory.
- There are many companies developing different RRAM memory solutions including Micron and Sony.
- However the Nanocube technology has significant points of difference - it is flexible, transparent and can be fabricated into a liquid solution at room temperature outside expensive high-vacuum chambers.
- The obvious fit is Printed Electronics (PE) where chemical, printing and electronic industries have collaborated to create a multi-billion dollar market that will be the future of electronics.
- PE can create flexible, transparent electronics which current semiconductors cannot. PE can also be manufactured using cheap printing methods unlike current electronics made in expensive fabrication plants.
- This creates opportunities to (a) allow device manufacturers to produce flexible products and (b) place electronics in places and on products that have never been able to use electronics before - e.g new forms of displays, curve of a soldiers helmet.
Managing Director: Charles Murphy Phone: +61 08 9278 2788 Email: email@example.com
Leading big data solutions company Invigor Group Limited (ASX:IVO) ("Invigor") is pleased to announce Berlin-based Condat AG, which Invigor proposes to acquire, subject to shareholder approval, has been awarded a contract with the EU Horizon 2020 programme.
- Consortium of eight partners to develop innovative media solutions in $4.5m deal
- Aim to achieve verification of user generated video from social networks for uptake in media and TV productions
- Invigor to acquire Condat as previously announced
Together with an international consortium of eight European partners, the project will develop an innovative solution for the verification of user generated video from social media for uptake in media and TV productions. The overall project will be funded with $4.5m, of which Condat will receive $500k.
Condat will use the results of the project to extend its media solutions, which are already running with several major German broadcasters. The new services will enable the editors of broadcasters to retrieve, validate and integrate videos from social networks such as YouTube, Twitter or Instagram, in new productions. The validation services will be needed for events, disasters or accidents, where pictures and videos increasingly appear first on social networks before professional journalists arrive on site.
As announced on 15 October 2015 Invigor will acquire Condat, a major provider of smart media solutions to public broadcasters in Germany. Condat's innovative software will strongly complement Invigor's existing product offering and its development towards becoming an end-to-end big data and content distribution provider.
Gary Cohen Chairman & CEO T: +61 2 8251 9600 Matthew Wright NWR Communications T: +61 451 896 420 E: firstname.lastname@example.org
As Chairman of the Archer Exploration Limited (ASX:AXE) Board, I'm very pleased to report to shareholders that the Company continues to perform well. During the past 12 months, we have taken significant steps towards the development and de-risking of our graphite project on South Australia's Eyre Peninsula and our magnesia project near Leigh Creek in SA's north.
Most graphite projects are restricted to producing one type of graphite product which limits a company's ability to deliver graphite to a range of customers. At our Eyre Peninsula Graphite Project, we have defined Australia's largest graphite JORC Resource and we are developing three distinct graphite products, namely:
- Ultra-pure graphite at Campoona Shaft, Central Campoona and Lacroma. This high grade graphite is suitable for use in lithium ion batteries, the growth of which is forecast to grow exponentially as a result of increased electric car and electricity storage battery units.
- Agri-business graphite at Sugarloaf. Early test work by the University of Adelaide shows that raw Sugarloaf graphite may be suitable for use as a fertiliser / soil conditioner.
- Flake graphite at Waddikee. The flake graphite at Waddikee is suitable for various industrial and high tech uses.
Over the past 2 years, Archer has undertaken a rigorous program of metallurgical testing, environmental assessment and community engagement on the Eyre Peninsula. This work has culminated in the finalisation of the Mining Lease Application which Archer hopes to lodge with the SA Government before the end of November. The Company is hopeful of having the formal Mining Lease granted by the middle of 2016.
The Leigh Creek Magnesite project is the world's largest cryptocrystalline (fine grained) magnesite deposit. This Project is located near the township of Leigh Creek and development of this valuable resource has previously been restricted by both the lack of infrastructure and the inability to access existing Leigh Creek coalfield infrastructure. Alinta's decision to close the Leigh Creek Coalfield has greatly affected the township of Leigh Creek and surrounding areas. I once lived and worked at Leigh Creek and personally understand the effect that Alinta's decision is having on the people of Leigh Creek.
Closure of the Leigh Creek coalfield means that the railway line and associated infrastructure is potentially available to Archer and this has greatly improved the economics of our magnesia project. Archer has commenced discussions with the SA Government and third parties regarding the development of the Leigh Creek Magnesia Project. I take this opportunity to acknowledge the positive response and assistance we have been receiving from all levels of SA Government.
Prior to Alinta's closure announcement about the coalfield, we announced that the Leigh Creek magnesite project was for sale. We are now considering several low risk and low cost development options for this project.
The Mount James Barite Project is located 25 km south west of Leigh Creek.
Mount James hosts 2 kilometre long outcropping barite vein sets that strike in a rough north south orientation. Barite is primarily used in oil and gas well drilling where its high specific gravity (drilling standard based on an SG of 4.1 or 4.2), its chemical and physical inertness, relative softness and very low solubility make it ideal as a weighting agent to suppress high formation pressures and prevent blowouts. Testing by Archer has shown that Mt James barite exceeds API 13A Specification for Drilling Fluids Material.
Mount James' location close to the Cooper Basin (Australia's largest onshore oil and gas producing province) presents an opportunity for Archer to provide crushed and bagged barite for local domestic consumption and we will look to further advance this project over the next 12 months
We continue to assess and develop our suite of development projects in a methodical and cost effective manner. These projects include copper at Spring Creek and gold at Bartels, Wonna and Watervale. Some people form the view that a junior explorer must focus on one commodity. However, at Archer, we know that "we can walk and chew gum at the same time". By applying our extensive knowledge of South Australia, we are able to identify and develop multi-commodity projects in a cost effective manner. Our focus is to develop projects that can add value, regardless of the commodity, rather than to chase the latest "flavour of the month".
The outlook for Archer continues to be very positive for the year ahead.
We will continue to pursue our Campoona project with further CSIRO testing of our graphite and comparing it to commercially available lithium-ion battery quality graphite. We will also continue the search for off-take and potential project partners, as we await the final Mining Lease approval.
Archer will also undertake further research with Adelaide University in respect of the suitability of the Sugarloaf deposit for use as a 'slow release fertiliser and soil enhancer'.
At Leigh Creek, we will continue to pursue low cost development opportunities, whilst still being open to offers that may emerge this world class asset.
In conclusion, I acknowledge the efforts of my fellow Directors. I am fortunate to share the Board responsibilities with experienced and well respected professionals and I thank them for their support, wise counsel and collegiate approach.
Finally, I thank all of Archer's employees, shareholders, the communities in which we operate and the SA Government for their support and assistance.
Archer has developed an exciting suite of projects and I continue to believe that our best days are ahead.
I now invite Gerard Anderson to present an overview of the Company's projects and prospects. (See link below for presentation)
Archer Exploration Limited
To view the 2015 AGM Presentation, please visit:
Archer Exploration Limited T: +61 8 8272 3288 E: email@example.com WWW: www.archerexploration.com.au
The pending closure next Tuesday of SA's Leigh Creek coalfield has potentially opened up an opportunity for a new magnesia-based mining venture there - though developers stress it is early days yet.
Diversified Adelaide-based Archer Exploration Limited (ASX:AXE) announced at its 2015 annual general meeting today that while the coalfield closure was a sad and worrying occasion for the mine's workforce and the Leigh Creek community, the earlier-than-expected closure had provided a reversal of fortunes for Archer's magnesia vision for the area.
Archer Chairman, Mr Greg English, told shareholders that the Company's wholly-owned Leigh Creek magnesia project to the immediate northwest of the coalfield town remained the world's largest cryptocrystalline (fine grained) magnesite deposit.
"Development of this valuable resource has previously been restricted by both the lack of infrastructure and the inability to access existing Leigh Creek coalfield infrastructure," Mr English said.
"However, Alinta's decision to close the Leigh Creek coalfield from next week means that its railway line and associated infrastructure is potentially available to Archer," he said.
"This has greatly improved the logistics of our magnesia project. We have commenced discussions with the SA Government and third parties regarding the development of the Leigh Creek Magnesia Project through this unexpected window of opportunity."
"We have had a positive response and assistance from all levels of the SA Government.
"It is certainly a turnaround of our intentions, as prior to Alinta's closure announcement about the coalfield, we had announced that the Leigh Creek magnesia project was for sale.
"Instead, we are now considering several low risk and low cost development options for this project but will remain receptive to offers that may emerge for this world-class asset."
Any such positive outcomes would add to Archer's success to date in advancing its flagship hub of ultra-high grade graphite projects on SA's Eyre Peninsula where a final mining lease application is pending by end of month. The Company also has interests elsewhere in SA in manganese, gold, copper, nickel, coal and industrial minerals.
Large quantities of magnesite are commonly burnt to make magnesium oxide, an important refractory material used as a lining in blast furnaces, kilns and incinerators.
In the past two decades or so, previous owners of Archer's magnesite tenements at Leigh Creek spent millions of dollars in exploration and study costs underpinning a bankable feasibility study for a 50,000 tonnes per annum magnesium metal plant on the site or nearby.
At the time, dumping by the Chinese of cheap magnesia, resultant falling prices and projected high capital and operating costs for the plant, torpedoed its start-up and the licences were relinquished - with the southern portion picked up by Archer in 2011.
"Our magnesia strategy has been very focused," Mr English said.
"The deposits we acquired are known to be world-class in both tonnage and grade, with a JORC 1999 Measured, Indicated and Inferred Resources of 453Mt grading 41.4% MgO (magnesium oxide or magnesia) with further resource estimate and mining lease application upside on offer," he said.
"Our belief is based around a very long-term profitable business case for a project producing Caustic Calcined Magnesia ('CCM') or Dead-Burned Magnesia ('DBM'), negating the high capital costs faced by the previous owners' proposed magnesium metal plant.
"In essence, much of the work needed to develop a magnesia mining operation at Leigh Creek has already been completed and simply needs updating.
"In particular, the high grade nature of our magnesite deposits can help overcome a myriad of obstacles and provide Archer, any joint development partner or new project owner with the financial cushion needed to ride out periodic price cycles."
Mr English noted that a large magnesia operation by world standards would be one producing 150,000tpa of CCM, requiring around 315,000tpa of magnesite feed.
"With JORC resources of 453Mt, it is not difficult to realise that Archer's Leigh Creek magnesite resources represent an 'almost inexhaustible' source of high grade magnesia," Mr English said.
"In addition, one deposit, Mt Hutton, is just 20km from the main Leigh Creek to Port Augusta standard gauge rail line, potentially providing an efficient supply chain.
"A reserve estimate completed in 2002 by Minarco reported a JORC 1999 Reserve of 7Mt. Mt Hutton alone could support a large magnesia operation (150,000tpa CCM) for more than 20 years."
Mr English said Archer did not underestimate the barriers to entry that exist for new entrants into the extremely competitive magnesia 'industrial minerals' market.
"However, the Company believes the comparatively modest expenditure needed to identify the optimum process flow sheet for our Leigh Creek deposits, is well worth the risk."
To view figures, please visit:
Greg English Chairman Archer Exploration Tel: (08) 8272 3288 Gerard Anderson Managing Director Archer Exploration Tel: (08) 8272 3288 Kevin Skinner Field Public Relations 08 8234 9555 0414 822 631