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Annual Report 2014

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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

Nyota Minerals, Navaho Gold and GB Energy among ASX % Gainers intra-day

Wednesday’s leading ASX % Gainers intra-day.

NameCodeLastChangeVolume
Nyota Minerals ASX:NYO $0.002 100% 3,000,000
Quest Petroleum ASX:QPN $0.002 100% 20,000
Navaho Gold ASX:NVG $0.007 75% 6,575,000
GB Energy ASX:GBX $0.005 66.667% 9,743,313
APAC Coal ASX:AAL $0.003 50% 351,764
Voyager Resources ASX:VOR $0.003 50% 583,614
Cougar Metals ASX:CGM $0.004 33.333% 150,948
Monto Minerals ASX:MOO $0.004 33.333% 10,000
Kollakorn Corporation ASX:KKL $0.004 33.333% 420,805
Australian American Mining ASX:AIW $0.004 33.333% 930,000

 

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.

Minera Gold renegotiates convertible loan securities

Peru-focussed Minera Gold (ASX:MIZ) has rolled over some convertible notes until 2015, which is a plus for shareholders as this is non-dilutive in the short term.

Where the Minera story becomes very interesting, recently the company exercised an option to acquire the San Santiago processing plant for US$5.5 million.

The deal delivered Minera control of an operating copper toll treatment business that is generating annualised EBITDA of circa US$2.5 million per annum.

Not bad for a company valued at just $15 million.

There is also significant potential upside in revenue by adding copper processing circuits.

The processing plant contains a newly refurbished gold circuit and two copper circuits to treat both oxide and sulphide copper mineral. The acquisition also includes 9,000ha of surrounding mining and exploration rights.

The plant produces very clean concentrate that attracts a premium price in the market.


Convertible loans

The convertible loan facilities were entered into in September 2013 and April 2014 and have provided the company with the necessary funding which has enabled the significant reorganisation and recapitalisation of the company’s balance sheet.

This funding along with the funds received from SilverStream and the 2 year mezzanine facility has seen Minera successfully execute the San Santiago acquisition.


Dates and details

As at 30th September 2014 the outstanding balance of expiring convertible notes was $1,026,907.

For note holders not wishing to convert their loans on expiry the company offered the option to either; receive redemption of the outstanding loan for cash, or the opportunity to roll any outstanding balance into a varied facility which will expire 30th June 2015.

The loan facility is on the same terms however under the varied terms, note holders can only convert their loan positions into equity after a period of 6 months from the date the loan variations were executed.

The company is pleased to advise that approximately $810,000 of the notes have been rolled over on until 30 June 2014 and the balance will be redeemed by the company on terms agreed with those individual loan holders.

 

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.

Axiom Mining receives interim injunction from Sumitomo

Axiom Mining (ASX:AVQ) has advised that it has been served an interim injunction to restrain the company from starting exploration at its Isabel Nickel Project in the Solomon Islands.

The company had on 24 September won the High Court case with Commissioner John Brown dismissing Sumitomo’s claims.

Sumitomo is now seeking the interim injunction on terms previously obtained in 2011 to restrain Axiom from undertaking various activities on the Kolosori land that is the subject of proceedings.

Axiom chief executive officer Ryan Mount said:

“Whilst this new interim injunction temporarily halts the exploration activities on Isabel Island, we are confident of resolving this matter when we are fully represented by our legal counsel next week in Solomon Islands.

“We question why this application was brought on with such little notice and refer to the recent High Court ruling where it stated the whole legal matter, instigated by Sumitomo, since 2011 was ‘an abuse of the court’s proceedings .

“The ruling also highlighted that Sumitomo’s undertaking as to damages was still in existence. So we will apply that to their latest actions in our future claim for damages, in the event we have yesterday’s matter overturned.

Sumitomo’s application is based on their plan to appeal Commissioner Brown’s ruling and want the “status quo” to remain pending the determination of the appeal.

The application was listed on an urgent basis before the Chief Justice sitting as a Judge of the Court of Appeal of Solomon Islands on the afternoon of 30 September 2014.

Axiom was only given notice of the listing on the same day.

Given the limited notice received by Axiom in relation to the listing of Sumitomo’s application, Axiom made an application to adjourn the hearing to enable its Australian counsel to be present to argue the matter.

While the Chief Justice granted Axiom’s request for an adjournment, he also granted the interim injunctive orders sought by Sumitomo pending a full hearing of Sumitomo’s application for injunctions.

The Chief Justice indicated that the full hearing may be able to be heard by the Court of Appeal, which is sitting next week.

Axiom is currently considering an urgent appeal from the decision of the Chief Justice to grant an interim injunction.

 

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.

European Metals Holdings granted trading halt

European Metals Holdings (ASX:EMH) has been granted a trading halt by the Australian Stock Exchange, with its shares placed in pre-open.

EMH requested the halt pending the release of capital raising details.

Recently EMH was granted an extension to the key Cinovec license covering the company’s Cinovec Tin Project in the Czech Republic.

The extension allows the company to complete a Feasibility Study on Cinovec including further exploration, underground sampling and drilling.

The JORC Resource is currently 28.1 million tonnes at 0.37% tin.

Cinovec is an historic tin mine incorporating a significant undeveloped tin resource with by-product potential including tungsten, lithium, rubidium, scandium, niobium and tantalum.

The outlook for tin appears to be strong, with Germany’s Federal Institute for Geosciences and Natural Resources forecasting an impending widening of demand over supply that, in its analysis, suggests a tin price approaching US$30,000/t may be expected in the near future.

The halt will remain in place until the opening of trade on Friday 3rd October 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.

DataDot Technology hits the capital raising road

Technology company DataDot Technology (ASX:DDT) has been granted a trading halt by the ASX pending details of a material capital raising.

DataDot operates in a very unique space in developing theft deterrent and asset identification technologies, which then has the potential to lead to new markets for the company.

The technology works by marking each asset with a unique and individual code.

This code is then recorded on a secure database and matched with other asset and ownership identifiers. In some cases the code is the primary manufacturer's identifier – for example a car’s Vehicle Identification Number.

Recently DataDot said that progress is being made by the company’s China distributor, DataDot Technology (Asia) Pte Limited (DataDot Asia), in marketing DataTraceDNA in China.

The halt will remain in place until the opening of trade on Friday 3rd October 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.

Fox Resources restructures board

Fox Resources (ASX:FXR) has appointed Bruce Garlick as its executive director and chief financial officer.

He has over 27 years of mining and financial management experience and had served as the company’s chief executive officer from September 2011 to September 2013.

Paul Dunbar has stepped down as the managing director though he will continue for the remainder of 2014 as chief executive officer.

David Peterson has stepped down as the company secretary.



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.

New Zealand Energy proposes to extend warrants by one year

New Zealand Energy Corp. (CVE:NZ) (OTCQX:NZERF) has proposed to extend the expiry date of 24.45 million share purchase warrants that were issued during a private placement financing in November last year.

Each warrant can currently be used to buy one common share of the company at a price of 45 cents until October 28, 2014. The junior oil and gas producer is proposing to extend the expiry date by one year, to October 28, 2015.

All other terms of the warrants would remain unchanged, the company said, with the amendment subject to the approval of the TSX Venture Exchange.

New Zealand Energy recently secured a NZ$5 million loan with New Dawn Energy to advance its assets in the Taranaki Basin. The working capital facility is the first step in a capital rebuilding process for the junior oil and gas producer.

New Dawn Energy is the parent company of L&M Energy, New Zealand's 50 percent partner in the Tariki, Waihapa and Ngaere (TWN) licenses it acquired last October. L&M is also the company's 35 percent partner in the Alton exploration permit, also located in the Taranaki Basin of New Zealand's North Island.

The additional working capital will allow New Zealand Energy to undertake the activities required to further exploit the TWN Licences, with the objective of increasing oil production.

For the past year, New Zealand Energy has been focused on increasing production and cash flow in the Taranaki Basin of New Zealand since closing the purchase of the TWN petroleum mining liceneses from Origin Energy (ASX:ORG) last October.

The company's strategy has been to focus on workovers and uphole completions on the new licenses, a significantly cheaper task than drilling new wells, that if successful, could easily tied into its Waihapa production station using existing infrastructure.

With the new capital, New Zealand has the opportunity to expand on its strategy thus far. It has already found four other production opportunities in existing wells on its TWN licenses, along with several new 3D drill targets in four different oil formations.

 

GBM Gold to sell remaining stake in gold project for $2.4 million

GBM Gold (ASX:GBM) has entered into an agreement to sell its remaining shares in Inglewood Gold Mining Company to Wilshire Asset Management SA for about $2.4 million.

Wilshire had in September 2012 agreed to invest $9 million into Inglewood, which holds the Inglewood project in Victoria that encompasses the Inglewood Goldfield as well as the smaller Wedderburn goldfield.

The Inglewood goldfield had previously produced about 130,000 ounces of gold with GBM having identified exploration targets exceeding 600,000 ounces.

This was amended in November 2013 under which Wilshire paid $4.5 million for a 50% shareholding in Inglewood as well as an option to increase its interest to 80% through a further payment of $1.5 million and assumption of the Maradox Gold loan liability of approximately $3 million.

Wilshire has since indicated its intention to exercise this option, which would have left GBM with only a residual 20% shareholding in Inglewood.

This led to the decision to sell the remaining interest to Wilshire.

On completion of the sale GBM will have the flexibility and resources to pursue gold projects free from the debt burden that it has carried in recent years resulting from loss making operations.

Separately, the two parties have agreed to terminate an agreement for Wilshire to purchase GBM subsidiary Industrial Sands & Gravels Pty Ltd for $5 million.

GBM will credit Wilshire the $750,000 deposit it paid.



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.

Moko Social Media receives coverage from Northland Capital Markets

Moko Social Media (ASX:MKB, NASDAQ:MOKO) shares overnight after analysts at Northland Capital Markets initiated coverage on the mobile app company with an outperform rating and a price target that is almost double its current value, citing the highly-tailored nature of Moko's business strategy.

The company, which was founded in 2004 and initially started in Australia, targets micro-social communities through its mobile applications, of which it expects to have launched six by January.

These micro-social communities are the evolution of the social network, wrote Northland analyst Darren Aftahi in his research report released Tuesday.

While Facebook, Twitter and Google Plus account for $2.1 billion plus of global social networking users, they are limited in scope in terms of addressing large sub-segmented social communities that share a common interest with the need to communicate with each other, he said.

Moko, meanwhile, looks to address this issue by targeting these large sub-segmented communities in a "highly-tailored fashion", first by controlling the only mobile conduit to the information that these specific social communities need, and second, by entering into exclusive arrangements with vertical partner groups and governing bodies.

"We have already seen some examples of highly targeted social networks start to blossom such as privately-held Strava (a free/subscription-based service focused on the cycling and running verticals), as well as privately-held Stocktwits, a financial communications platform for the financial and investing community."

Moko's first six mobile apps cover the collegiate, political and sports verticals, with an estimated total addressable market (TAM) of approximately 180 million users, noted Aftahi.

This figure can be even higher when figuring potential "instances", said the analyst.

"Because a unique user can represent multiple ‘instances’ (e.g. a college student can also be a runner, while simultaneously being interested in progressive politics), we believe ‘instances’ is the best way to measure MOKO’s TAM, which we estimate at ~300M+," he wrote.

This is an important distinction as instances ultimately are a truer representation of impressions, which ultimately drive ad revenue.

Moko is still in the early stages of its mobile apps launch strategy, and Northland's Aftahi says its biggest challenge will be aggregating users. The company has just launched its first two mobile apps, called REC*IT and BNR, with plans for another four to be live by January.

 

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.