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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

Arrium, Axiom Mining, Carbon Energy among ASX Volume Leaders

Monday's ASX Volume Leaders.

CompanyCodeLastChangeVolume
Arrium Limited ARI $0.390 4% 61,752,000
Fortescue Metals Group FMG $3.580 -4.79% 37,431,347
Otto Energy OEL $0.093 12.05% 34,462,799
Axiom Mining AVQ $0.018 -5.26% 30,433,345
Carbon Energy CNX $0.031 34.78% 23,711,910
Far Limited FAR $0.079 -1.25% 22,752,328
Dexus Property Group DXS $1.145 1.33% 21,673,743
Fairfax FXJ $0.800 3.23% 21,461,095
Telstra TLS $5.350 -1.11% 19,035,445
Newera Resources NRU $0.002 -33.33% 18,651,091

 

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.

SmartTrans integrates mobile billing into Chinese smartphone game apps

SmartTrans Holdings (ASX:SMA) should trade higher after signing agreements for its mobile billing to be integrated into apps with four Chinese smartphone game developers.

These apps are to be marketed to Chinese consumers and SmartTrans will collect payment via its mobile billing platform. Revenue Generation has already commenced.

The Company now has agreements in place for it to bill within the Apps of local mobile game developers Shenzhen Zhimengxing Technology, Shenzhen Woxiang Technology, Guangzhou Yingjian Technology and Zhangyu Shijia and to market their games to consumers in China.

Under the terms of the agreements, SmartTrans has embedded the billing platform into the respective Apps so Chinese consumers can readily purchase these games through their smartphones.

SmartTrans earns a percentage of the transaction fee, and also has agreements to market these game Apps directly to Chinese consumers through social media channels with revenue earned via a percentage of each sale.

These new agreements are further evidence of the revenue streams SmartTrans can generate from third parties wishing to access the its online and mobile payments platform, and from the direct-to-phone billing agreements it now has with all major telcos in China.

The mobile games market in China is anticipated to grow to over $100 billion by 2017. SmartTrans has been focusing on this market here as key revenue and growth driver, and with these new partnerships SMA is well positioned to leverage the opportunity.

 

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.

World Reach clinches another US$3M order

World Reach's (ASX:WRR) wholly owned subsidiary Beam Communications has received a further US$3 million order for additional deliveries of the recently launched custom product for a major satellite operator.

These deliveries are anticipated to commence shipping in December quarter, and based on the current delivery schedule, US$2.25 million of the US$3 million will be invoiced within financial year 2015.

WRR delivered revenue for the June quarter of $4.2 million, a 50% increase on the previous quarter, with commencement in sales of new products from its latest development project, Iridium GO!.

On the 22nd May, WRR revealed that it's Iridium GO! product, a new style of satellite communication device providing satellite access via a smartphone, had commenced production.

Strong sales of existing products to core global distributors are expected to continue in September quarter.

With the addition of sales of recently developed Iridium GO! products, the company expects a profitable September quarter with favourable impact beyond.

Following completion of development work, the commencement of sales of developed products will allow repayment of loans and extended credit that were part financing the development.

World Reach will submit an Australian Government Research & Development Grant application in relation to development expenditure in the 2013/14 year, which totalled $1.8 million.

In addition, a rights issue was finalised on 28th July 2014 which raised $2.4 million for the repayment of expensive debt which had a maturity date of 1 July 2015.

Apart from a major improvement to the balance sheet, the interest saving will contribute to the expected positive cash flow of future periods.

The company is capped at around $10 million and could 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.

Pacific Niugini provides update on Halls Creek

Pacific Niugini (ASX:PNR) is drilling on-site at the Halls Creek Project, and expects to meet its stage one expenditure of $1.2 million dollars by the end of 2014.

Therefore the company could meet its first year spending commitments several months ahead of the required timeline.

Pacific Niugini’s ownership will increase to 65% at the time that the expenditure is reached.

Halls Creek is located in the Kimberly Region of Western Australia, and the project provides the company with a platform for development and operation of its first producing gold asset.

The project hosts an existing high-grade gold resource of 260,000 ounces and includes a 120,000 tonne per annum processing plant at the Nicolsons Prospect.


Force Majeure event

The company has also advised, through its wholly owned subsidiary Halls Creek Mining Pty Ltd, that it has notified Bulletin Resources (ASX:BNR) of a Force Majeure event at the Halls Creek Project.

The event relates to government approvals process timelines extending beyond the guidelines provided by the Department of Minerals and Petroleum.

The company is awaiting feedback and approval of its Mining Proposal for the project, following lodgement on the 4th of August 2014.

The event does not affect the company’s ability to continue working on site, but may impact mine development timing, and therefore project expenditure timing if delays persist.


Halls Creek project ownership


Pacific Niugini is currently the 49% owner, and sole manager of the Halls Creek Project following acquisition from Bulletin Resources.

BNR is currently the 51% owner of the project.

Pacific Niugini is increasing its ownership in the project from 49% to 80% by spending $2.4 million over the initial two years.

 

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.

Liquefied Natural Gas Ltd achieves further milestones at Magnolia

Liquefied Natural Gas Limited (ASX:LNG; OTC ADR:LNGLY) wholly-owned subsidiary, Magnolia LNG, has achieved two significant milestones in just the past week.

The company is progressing its pending application with the Federal Energy Regulatory Commission (FERC) for its proposed 8 mtpa LNG export project located in Lake Charles, Louisiana, U.S.

The company also entered the S&P/ASX 200 Index, S&P/ASX 300 Index and S&P/ASX All Australian Index today.


FERC milestones

US Coast Guard:


The US Coast Guard (USCG) has issued a Letter of Recommendation dated September 15, 2014, approving the Project’s Waterway Suitability Assessment.

Since July 2013, the Project Team has worked closely with the USCG, the Lake Charles Pilots Association, the Lake Charles Harbor Safety Committee, key stakeholders along the Calcasieu Channel and local emergency response organizations, to assess and address all of the marine safety and security issues associated with the proposed vessel transit.

With this approval, the USCG has assessed Magnolia LNG’s proposed marine traffic along the Calcasieu Channel and has determined that this waterway is “suitable for accommodating the type and frequency of LNG marine traffic associated with the project".


Department of Transportation

The Department of Transportation’s (DOT) Pipeline and Hazardous Materials Safety Administration (PHMSA) has issued a Letter of No Objection to FERC dated September 17, 2014, approving the Project’s design spill methodology.

Since filing its application on April 30, 2014, the Project Team has worked closely with DOT PHMSA during their review of the Project’s design spill methodology.

This is a significant milestone for Project as it allows FERC to move closer to finalizing its review of the Project’s safety and engineering design.

In order for it to issue a Notice of Schedule for Environmental Review and the Draft Environmental Impact Statement for the Project, FERC requires these inter-agency approvals.

Magnolia is confident that with these developments it is moving substantially closer to the issuance of an environmental review schedule and ultimately a draft environmental impact statement and looks forward to cooperating with FERC to achieve additional milestones.

 

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.

Waratah Resources continues Indonesian coal push

Waratah Resources (ASX:WGO) has updated on the progress of a proposed sale to an international coal trading company of trial 55,000 tonnes of thermal coal from South Kalimantan, Indonesia.

An initial total of 9,000 tonnes of coal has been delivered to the customer however commercial difficulties experienced by Waratah’s supply partner have prevented delivery and implementation of the full amount.

The buyer’s ship is concluding the current cargo with coal sourced from elsewhere, while Waratah is arranging an alternative buyer for its remaining 46,000 tonnes.

Waratah will incur penalties relating to shipping demurrage and replacement coal costs for the current customer expected to be around $200,000.

This agreement is Waratah's first transaction where the company has owned and on-sold the cargo, so some early teething problems can be expected.

Despite this hiccup, this initial trial supply could still result in a longer term supply agreements, in line with its goal of delivering cash flow and profit growth from its commodities trading arm.

Waratah has developed a strong business relationship over the past nine months with its Indonesian partner for supply of thermal coal from a long term producing mine.


Coal strategy

Waratah is focused on supplying thermal and coking coal from its Indonesian mining partners to its end user customers in China, India and Korea.

This includes a particular focus on long term off-take agreements.

In May, Waratah dispatched a 50,000 tonne cargo of thermal coal from Kalimantan to Shanghai, China.

This cargo arrived in June 2014 and represented confirmation of its strengthening commercial relationships with Indonesian partners, Indonesian coal producers and end users throughout Asia.

Potential further customer relationships are also being developed in Taiwan, India and South Korea.

The company has cash on hand totalling $860,637 as at 30 June 2014.

It also holds the Mekambo-Est Iron Ore Project in Gabon and Okanabora Iron Ore Project in the Republic of Congo.

The company has cash on hand totalling $860,637 as at 30 June 2014, and is modestly valued at under $5 million.

It also holds the Mekambo-Est Iron Ore Project in Gabon and Okanabora Iron Ore Project in the Republic of Congo.

 

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.

Optiscan Imaging eyes fundraising

Optiscan Imaging (ASX:OIL) is focussed on microscopic imaging technologies for medical markets, using its unique and patented technologies enable high-powered microscopes to be miniaturised and used inside the body.

The technology enables microscopic imaging of up to 1000 times magnification to be achieved.

Doctors can then use this technology to instantly see cellular level details of tissue without the requirement to surgically remove tissue, known as a biopsy.

Optiscan is now preparing to provide an update concerning fundraising, upon finalisation of the arrangements.

The halt will remain in place until the opening of trade on Wednesday 24th September 2014, or earlier of 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.

Condor Blanco Mines, Wildhorse Energy among ASX % Gaines at noon

Monday's leading ASX % Gainers at noon.

CompanyCodeLastChangeVolume
Condor Blanco Mines CDB $0.003 50% 1,400,100
Wildhorse Energy WHE $0.007 40% 350,000
Impact Minerals IPT $0.032 33.33% 1,486,182
Ephraim Resources EPA $0.009 28.57% 300,000
Walkabout Resources WKT $0.005 25% 101,110
Hell End Gold HEG $0.005 25% 150,000
Q Limited QXQ $0.011 22.22% 1,181,076
SmartTrans Holdings SMA $0.017 21.43% 12,354,376
Safety Medical SFP $0.006 20% 1,330,000

 

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.

Pacific Environment to acquire DLA Environmental

Pacific Environment (ASX:PEH) has entered into a binding agreement to purchase the New South Wales based environmental services business, DLA Environmental.

Total consideration to be paid is $918,000 which represents 3x target earnings before interest and tax.

The initial cash payment will comprise 40% of the total consideration and the remainder will be made across two equal annual instalments.

Target EBIT has been determined by a normalised weighted average of the last three years’ performance. Upside and downside EBIT based payment triggers are in place that may increase or decrease the total amount of deferred payments.

The acquisition will be funded by a mixture of internal cash reserves and bank debt.

DLA offers strong and growing profitability as demonstrated over the last three years, potential for cross-selling of service offerings across both organisations’ client bases, and national expansion of the DLA business.

DLA will use the PEH back-office systems, which allows for operational cost savings.

The transaction is expected to be completed in early October.

DLA is a long-standing environmental business based in Sydney and Maitland specialising in contaminated land assessment and remediation projects.

PEH is also currently in discussions with a number of other groups for possible acquisition and expects to make further announcements before the end of the year.

The company is valued at around $7 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.