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Annual Report 2013

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Integrated Resources Group Limited

Integrated Resources Group Limited (ASX:IRG) is an Australian Listed Mining and Exploration Company.

 

The Company is focused on exploring and developing high grade copper deposits in Zambia to generate value for shareholders.

IRG is actively exploring its prospective flagship Kalengwa South Project and plans to grow its portfolio of quality exploration projects to become a major copper explorer and developer in Zambia.

Map of Kalengwa South Project Showing Prospect Areas and Historic Exploration Results

 

The Company also holds the Lyndon Base Metals project located in Western Australia.

Proactive Investors

Exoma Energy and Blaze International among Friday’s ASX Volume Leaders

Friday’s leading ASX Volume Stocks.

NameCodeLastChangeVolume
Exoma Energy ASX:EXE $0.023 53.333% 73,383,207
Legend Mining ASX:LEG $0.008 -20% 64,734,367
Segue Resources ASX:SEG $0.013 0% 63,159,638
Blaze International ASX:BLZ $0.002 100% 57,702,037
Green Rock Energy ASX:GRK $0.006 0% 37,282,488
Austin Exploration ASX:AKK $0.012 0% 35,379,528
Nido Petroleum ASX:NDO $0.042 20% 31,610,363
Telstra Corporation ASX:TLS $5.450 -0.547% 27,616,761
Virax Holdings ASX:VHL $0.008 0% 27,145,087
Quickflix Limited ASX:QFX $0.016 0% 26,366,504

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Platina Resources soars on Chinese offtake deal

Platina Resources (ASX:PGM) shares have more than quadrupled in a week to an intra-day high of $0.25 today following Monday's announcement of an offtake deal for its Owendale scandium project in New South Wales.

Shares last traded at $0.22.

Platina signed a Heads of Agreement with Chinese manufacturer, Inner Mongolia Honfine Zirconium Industry Co (Honfine), to negotiate both an Off-take Agreement and a Supply, Technology, Processing and Marketing Agreement.

Platina and Honfine will negotiate an off-take agreement for the supply of 15 tonnes of scandium oxide at a 99.9% purity grade and at a commercially acceptable price.

Whilst pricing and other terms are yet to be agreed, over the past four years scandium oxide at 99.9% purity has sold within a range of USD$1,400-3,700 per kilogram.

The stated intention is that Platina and Honfine will aim to finalise and execute binding agreements within the next three months.

In addition, both companies will evaluate the viability of transporting scandium concentrates grading 1000ppm scandium or higher from Australia to China to be processed at Honfine’s factory located in Inner Mongolia.

Currently, Platina is working on a metallurgical test work program to produce high grade scandium concentrate from the Owendale project which could reduce capex and opex.

Platina and Honfine also intend to collaborate on establishing the cheapest processing technology required to produce the desired scandium products from Owendale ore.

The company is capitalised at around $16 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Pilbara Minerals raises $2.6M for tantalum production

Pilbara Minerals (ASX:PLS) has completed its share purchase plan, with total applications received for $2.6 million at $0.015.

Together with the proceeds of its recent $920,000 share placement, funds raised will be used to complete construction of the processing facility for the company’s flagship Tabba Tabba Tantalum project in WA’s Pilbara region.

Production here is scheduled to commence in October 2014.

The 120,000tpa tantalum processing plant is being developed under a 50/50 joint venture between Pilbara and Nagrom Mining.

Funds will also provide working capital to fund the commencement of mining and commissioning, and to fund aggressive resource development programs at the company’s other strategic metals assets in the Pilbara region.

This will include drilling to grow the resource base at the recently acquired Pilgangoora Tantalum-Lithium project, a potentially world-class tantalum-lithium resource located adjacent to Altura Mining’s (ASX:AJM) Pilgangoora lithium resource.

The strong response to the SPP reflects shareholders’ support for PLS' growth strategy, which is based on moving into production as quickly as possible at Tabba Tabba to generate near-term cash flow from which to grow the company.

The company is capped at under $9 million and looks to be an emerging growth story.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Panterra Gold receives initial substantial shareholder notice

Panterra Gold (ASX:PGI) has received a notice of initial substantial shareholding from Hawthorne Pty Ltd which has a 5.05% stake.

Hawthorne had acquired 1.5 million shares for a total of $58,500, or an average consideration of $0.039 per share, on 21 July 2014.

This follows the addition earlier this month of Central American Mezzanine Infrastructure Fund as a substantial shareholder in Panterra.

The investment fund was issued 16,563,725 shares priced at $0.035 each in lieu of dividend payments due from Redeemable Preference Shares, bringing its total shareholding up to 5.9%, or 46,619,838 shares.

The company’s Lagunas gold-silver project in the Dominican Republic currently produces revenue of about US$1 million per week with operating costs of US$600,000 per week.

This income is likely to increase when oxidation of the refractory ore being processed improves with the additional Albion reactor that is being installed.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Platina Resources and Exoma Energy among ASX % gainers

Friday’s leading ASX % Gainers in afternoon trade.

NameCodeLastChangeVolume
Platina Resources Options Sep15 ASX:PGMO $0.110 103.704% 1,159,268
SWW Energy ASX:SWW $0.007 75% 100
Platina Resources ASX:PGM $0.200 73.913% 507,000
Buxton Resources Options Jan16 ASX:BUXO $0.260 62.5% 504,139
Castle Minerals ASX:CDT $0.039 56% 452,385
Exoma Energy ASX:EXE $0.023 53.333% 73,383,207
Coalbank ASX:CBQ $0.003 50% 100,000
Explaurum ASX:EXU $0.006 50% 221,701
Otis Energy ASX:OTE $0.003 50% 613,954
Intermoco Corp ASX:INT $0.030 50% 7,858,394

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Silver Lake Resources posts revenue of $63M

Silver Lake Resources (ASX:SLR) has recorded revenue of $63 million for the June 2014 quarter on gold sales of 43,886 ounces at an average realised price of A$1,435 per ounce.

In addition, the company has provided guidance financial year 2015 gold sales of between 125,000 to 135,000 ounces.

It had cash at hand of $34 million and no debt as of 30 June 2014.

The company reported:

-    Group production of 44,523 ounces for the quarter;
-    Gold sales totalling 43,886 ounces;
-    Full year gold sales of 217,349 ounces;
-    Mount Monger gold production of 37,194 ounces for the quarter;
-    Mount Monger full year gold sales of 172,838 ounces; and
-    Full year unaudited all in sustaining cash cost of A$1,070 per ounce.

Mount Monger

Ore feed in FY15 at Mount Monger Operations for the 1.2 million tonne per annum Randalls mill consists of the Daisy Complex and Cock-eyed Bob underground mines, the Wombola Dam open pit and surface stockpiles.

Several projects are currently being evaluated at Mount Monger Operations to displace lower grade stockpile feed in the second half of the 2015 financial year.

Depending on the outcomes of these evaluations, guidance may be reviewed in late 2014. These evaluations are focusing on asset quality to maximise cash generation.

Group Operations


Ore mined for the June 2014 quarter totalled 181,756 tonnes resulting in contained gold in ore production of 24,577 ounces.

Volumes mined were lower than previous quarter due to no mining activities in the Murchison and completion of Maxwells open pit at the Mount Monger Operations in June 2014.

Ore mined for the full year ended June 2014 totalled 1.96 million tonnes resulting in contained gold in ore production of 180,862 ounces.

Ore milled for the quarter totalled 689,109 tonnes at a blended grade of 2.1 g/t Au for 44,523 recovered ounces.

For the full year ended June 2014, the company mined a total of 3 million tonnes of ore at a blended grade of 2.4 g/t Au for 214,866 recovered ounces.

Net cash inflow at Mount Monger was $13.8 million.

Hedging

As at 30 June 2014, Silver Lake’s forward gold hedging program totals 37,500 ounces spread evenly from July 2014 to March 2015 at an average forward price of A$1,539 per ounce.

Current Work

A 19 hole surface diamond and 31 hole RC drilling is in progress at the Lorna Doone deposit to infill the resource below the existing open pit and to provide geotechnical and metallurgical information to complete a mining study.

Assay results are expected from the Lorna Doone program in August 2014.

Following completion of this program drilling will commence to the west of the Imperial deposit consisting of 11 surface diamond and 19 RC holes.

This program will drill test the potential for another mineralised structure in the hangingwall of the Imperial deposit which has been identified from surface geophysics.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China

Cleveland Mining Company granted halt

Cleveland Mining Company (ASX:CDG) has been granted a trading halt, and its shares have been placed in pre-open.

Cleveland requested the halt pending details of an operationally based transaction.

The company is producing gold at the Premier Mine in Brazil.

Highlighting the potential of the mine, Anglo Gold Ashanti Serra Grande have mined 3.5 million ounces over 24 years situated < 1 kilometre away in same geological setting.

Cleveland also has iron ore interests in the country.

The halt will remain in place until the opening of trade on Tuesday 29th July  2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Parker Resources to acquire online insurance provider Ensurance

Parker Resources (ASX:PKR) has entered into a conditional agreement to acquire Ensurance Capital.

Ensurance has developed innovative solutions to provide general insurance products through digital media channels.

Following national success, Ensurance is positioned to expand its IT capabilities by offering additional products to both local and international markets.

Consideration payable for the acquisition, which is subject to approval by Parker shareholders, is the issue of 30 million shares, and payment of $500,000.

On completion of the transaction, Parker will change its name to Ensurance Ltd.

The acquisition of Ensurance constitutes a change in nature and scale of Parkers’ activities, therefore Parker will need to re-comply with Chapters 1 and 2 of the ASX listing rules.

Parker will hold a shareholders meeting to approve the transaction, including a required capital raising of at least $1.3 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Tychean Resources kicks off more gold drilling at Spargoville

Tychean Resources (ASX:TYK) has commenced a 3,845 metre, 31 drill hole drilling program at its Spargoville Gold Project in the Eastern Goldfields of Western Australia.

The program was generated to follow up anomalous results from previous air core drilling, which included 4 metres at 13.2g/t gold from 32 metres, 4 metres at 6.21g/t from 52 metres, and 8 metres at 2.95g/t from 44 metres.

These were promising initial results so this deeper drilling should generate some market interest given Tychean's light market cap of $5 million.

Spargoville comprises an exploration tenement package covering around 11,440 hectares. This includes 27 granted Mining Leases; 2 granted Exploration Licences; 5 Prospecting Licences; and 2 Miscellaneous Licences.

Adding to the prospectivity of the tenements, they encompass the previously mined high grade Wattle Dam deposit.

Wattle Dam mine produced 880,000 tonnes at 10.1g/t gold for 286,000 ounces.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.