Essential assets for July 16

July 16, 2015 10:48 AM

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St George Mining Limited is pleased to announce that the Company’s drilling contractor, DDH1 Drilling, is scheduled to arrive at our 100% owned East Laverton Nickel Sulphide Project in Western Australia on 2 June 2015. DDH1 Drilling is deploying a Sandvik 1200 Multipurpose truck mounted drill rig, with capability for deep diamond and RC (reverse circulation) drilling, for this program. Drill holes will be completed with RC collars down to fresh rock and diamond core for the remainder of the hole.

Victoria Oil & Gas Plc announced that its 100% owned subsidiary, Gaz du Cameroun S.A., has made payment in full for the purchase of the Logbaba gas processing plant from Expro Worldwide BV. The Plant currently processes gas extracted from the GDC wells, producing condensate which is sold to a local refinery and clean natural gas which is distributed to customers through the 33 km pipeline network in Douala, Cameroon. The Plant has been purchased from Expro for US$2.578m, using cash generated from GDC operations, and the Board believes that this purchase will deliver significant cost savings. GDC is evaluating proposals for a long term contract for the operation and maintenance of the Plant with specialist service companies, including Expro.

Watlow®, an industry leader in the design and manufacture of complete thermal systems, is excited to announce its new F4T with INTUITION® temperature process controller. Watlow’s best-in-class process controller offers industry-leading functionality providing users with a powerful, flexible and easy to use device in one versatile package. The new F4T features a 4.3-inch, capacitive color touch panel with high resolution and graphical user interface that provides customized control for even the most demanding applications. It provides intuitive navigation and screen personalization allowing channels, alarms, inputs and outputs to be programmed with user-defined specifications. Watlow’s F4T with INTUITION proves easy to use with capabilities that benefit users in a variety of industries. One significant benefit is design flexibility. It is scalable, and offers a wide range of field removable input/output modules. This allows the unit to be configured into a multitude of applications, while integrating easily with the required hardware.

Spookfish Limited is pleased to announce that a significant Australian military contractor has entered into an evaluation agreement with Spookfish to enable them to review the Company’s technology and evaluate the merits of entering into a commercial agreement prior to our scheduled large-scale commercial launch in 2016. There are significant benefits of using realistic 3D models for areas of interest complete with features such as buildings, roads, trees and natural features, large and small, modelled and integrated into training, planning and real-time operational monitoring systems. The partnership being forged with this contractor will provide a new level of detail and realism not otherwise obtainable by any other means on anything other than the smallest scale, and substantial international applications exist for this capability.

Premier Oil plc is pleased to announce an oil discovery at the Isobel Deep exploration well 14/20-1 in the North Falkland Basin, approximately 30km south of the Sea Lion field. The Isobel Deep exploration well has been drilled to a depth of 8,289 feet reaching top reservoir on prognosis. The bottom 75 feet of the well consists of oil bearing F3 sands. These sands were at a higher than expected reservoir pressure and this resulted in an influx into the well.  As part of the operations to remove the influx, oil was recovered from the well and appears similar in nature to Sea Lion crude. As a result of the new geological information it has been decided to suspend operations on the well and release the rig to drill in the South Falkland Basin. The rig is expected to return to continue operations in the North Falklands Basin in August. Premier is now considering the optimal appraisal programme for the Elaine/Isobel complex in PL004.

Aspen Group advises that settlement has been completed of the previously announced sale of the Adelaide City Central precinct development site in accordance with the contract terms. The proceeds of sale, and return of security bonds, totalling $17 million, increase Aspen Group’s capacity to pursue investment opportunities in the accommodation sector. In line with Aspen’s strategy, the sales process has commenced for the sale of the remaining portion of the Spearwood Industrial Estate in Perth, Aspen Group’s sole remaining material non-core asset, by an expression of interest process through Colliers International.

Argex Titanium, Inc., an emerging producer of high-grade titanium dioxide (TiO2) is pleased to announce that it has appointed a syndicate of agents co-led by GMP Securities L.P. and Euro Pacific Canada Inc. and including Cantor Fitzgerald Europe, Cormark Securities Inc. and Desjardins Securities Inc. as its Agents to sell units of the Corporation at a price of $0.37. Each Unit will be comprised of one share of the common share of the Corporation and one common share purchase warrant, each entitling the holder thereof to acquire a Common Share at a price of $0.4625 for a period of 48 months from the closing of the Offering.

South Boulder Mines is pleased to announce that, following shareholder approval at the Annual General Meeting of shareholders on 29 May 2015, and receipt of a new Certificate of Registration for the Company from the Australian Securities and Investments Commission (ASIC), the Company has changed its name to Danakali Ltd (Danakali) with immediate effect. Danakali is primarily focussed on developing the Colluli Potash Project in Eritrea, East Africa, in partnership with the Eritrean National Mining Company (ENAMCO). The prefeasibility study for the project was completed in February 2015 and indicates an economically robust project which is underpinned by a substantial resource. For ASX purposes, the effective date for the Company name and ASX code change will be on Thursday 4 June 2015, at which time the ASX code will change from "STB" to "DNK."

Premier is pleased to announce that it has concluded two separate transactions in relation to its operated Solan project, West of Shetland. Premier has acquired Chyrsaor’s 40% interest in the Solan field for nil upfront consideration. As a result of this transaction, Premier will consolidate 100% of the Solan field’s production, revenues and capex in its financial results.  Premier currently estimates that the royalty payments and the NPI would become payable at an average oil price above $75/bbl and $100/bbl, respectively. Separately, Premier has entered into a $100 million agreement with FlowStream Commodities, subject to DECC approval. FlowStream will make a $100 million upfront payment to Premier in return for the proceeds from 15% of Premier’s production from the Solan field for a period of time, the duration of which is dependent on the Solan field’s production levels and future oil prices.

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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.