Essential Assets for March 26

March 26, 2015 12:47 PM

South Boulder Mines is pleased to announce the JORC 2012 Mineral Resource estimate for the Colluli potash project in Eritrea, East Africa. The total Mineral Resource estimate comprises 1,289 Million tonnes (Mt) at an average grade of 10.76% K2O.

The importance of the oil and gas sector and the annual AOG Exhibition and Conference to the Western Australian economy can be judged by the strong support the event is receiving from all levels of government. The WA Government is a major sponsor of AOG 2015 and has also provided important assistance and input into the Conference programme. This year’s AOG will be officially opened by the Hon. Michael Mischin MLC, WA’s Attorney General and the Minister for Commerce.

Spookfish Limited is pleased to provide an update on its progress towards the early commercialisation of its Stage One Technology Demonstrator as well as the development of the large scale Stage Two camera system. The Spookfish Technology Demonstrator, first flown in December last year, is already amongst the most capable aerial survey camera systems in the world even though it was only intended as a test bed for technologies employed in the full-scale Stage Two system under development.

The Board of OM Holdings Limited is pleased to report a 26% increase in revenue for the financial year ended 31 December 2014 from A$423.7 million to A$532.7 million. 

Anachron, one of the world’s leading e-Invoicing providers, has successfully established an active connection to the FACe e-Invoicing network in Spain. FACe is the general entry point for electronic invoices submitted to the attention of the Spanish government and its associated agencies and departments. This new connection makes it possible for all Anachron customers to automate the submission of invoices via FACe, eliminating the need for manual submission by the portal website itself. The service is now available for all Anachron and InvoicePortal customers.

South Boulder Mines is pleased to advise the completion of an independent review of the financial model which will be used to assess the financial viability of the Pre-Feasibility Study (PFS) for the Colluli Project in Eritrea, East Africa.

Diversified mining services company Ausdrill Limited has delivered an operating profit of $19.9 million* on sales revenue of $413.6 million for the six months to 31 December 2014. However, as a result of impairment charges totalling $197.3 million, as announced to the market on 17 February 2015, the Company has reported a statutory loss after tax of $177.4 million. The Group recorded a decrease in revenue as a result of the continued challenging trading conditions for service providers to the mining sector.

Valmec Limited is pleased to report its financial results for the half year ended 31 December 2014. Sales revenue for the period was $26.4 million, an increase of 11.6% from the previous corresponding period. Whilst revenues were below expectations for the half due to tighter market conditions, increasing services and minor capital works tender opportunities across all of Valmec’s markets underpin the Company’s expectations of a stronger second half.

Altona Mining Limited is pleased to report a solid profit for the six months to 31 December 2014 reflecting three months of strong production from its former Finnish operations together with the sale of these assets effective from 1 October 2014. This has placed the Company in a strong position where it has no debt, a significant cash balance and a large development ready copper project located (Cloncurry) in Queensland Australia. The project continues to grow with extensions to the Turkey Creek discovery drilled in December 2014.

Cardinal Resources Limited announces that high grade gold intersections of 18m and 6m have been located approximately 22m down dip from hole NMRC 374‐742 (see ASX announcement dated 16 February 2015) at the Namdini Mining Licence, located within Cardinal’s Bolgatanga Project in Ghana.

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About the Author

Lauren is the editorial assistant for Futures Magazine. She graduated from DePaul University in 2013 with a degree in English.