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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

Mirabela Nickel, Blaze International, Qantas among Friday’s ASX Volume Leaders

Friday’s leading volume stocks on the ASX.

NameCodeLastChangeVolume
Mirabela Nickel ASX:MBN $0.062 87.879% 110,732,591
Blaze International ASX:BLZ $0.001 0% 57,951,654
Lynas Corporation ASX:LYC $0.068 -6.849% 41,809,965
Quest Petroleum ASX:QPN $0.001 0% 38,233,399
Qantas Airways ASX:QAN $1.425 3.636% 33,460,014
OGI Group ASX:OGI $0.011 -15.385% 28,427,437
Dexus Property Group ASX:DXS $1.190 0.422% 26,890,092
Telstra Corporation ASX:TLS $5.500 0% 24,072,921
Transerv Energy ASX:TSV $0.005 0% 24,054,575
FAR Ltd ASX:FAR $0.115 9.524% 21,641,118

 

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.

Sprintex Ltd raises funds to develop automotive product in North America

Sprintex Limited (ASX:SIX) has raised $190,000 through a share placement to continue development of its core automotive product in the North American market.

The placement of 63.3 million shares priced at $0.003 per share was made to an existing shareholder Axiom Investment Management.

In 2014, the company reorganised and sought to stabilise its position in the automotive market as a leading global producer of superchargers.

Its products are used in the Jeep JK 3.6L Pentastar system as well as the Toyota FT86 / Scion FRS / Subaru BRZ vehicles.

Sprintex is also close to releasing the S5-100 supercharger, which is suitable for 800cc to 1.2L engines.

This product will be particularly relevant to small engine vehicles and other products such as ATV’s, snowmobiles and jet skis.



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.

Leaf Resources shares swept higher

Leaf Resources (ASX:LEF) shares have been on a tear since entering into a collaboration agreement with Colorado’s ZeaChem Inc. to evaluate Leaf’s Glycell process.

Shares in the company have doubled to the current price of $0.15 from $0.07 on 15 October 2014 before the announcement was made.

ZeaChem and Leaf will evaluate the Glycell process for the production of fermentable sugars at ZeaChem’s demonstration plant at Boardman, Oregon.


The trials will use poplar as a feedstock.

ZeaChem has multiple patents in the cellulosic field including for the production of acetic acid from cellulosic sugars.

Its plant utilises Andritz equipment and is very similar in configuration to the Andritz trial facility at Springfield, Ohio, where Leaf has been running development trials for almost one year.

Glycell Process

Leaf’s Glycell process uses a low cost, recyclable, biodegradable reagent glycerol, in a simple process, to break down plant biomass into lignin, cellulose and hemicellulose at low temperature and pressure.

Cellulose, a critical building block for many bio-based products, can be used directly as cellulose fibre, chemically converted to cellulose derivatives or converted to cellulosic sugars using enzymatic hydrolysis.

These cellulosic sugars can then be converted to bio-based materials, bio-plastics and green chemicals, the markets for which are extremely large and fast growing.

 

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.

Tempo Australia to release details of contract awards

Tempo Australia (ASX:TPP) has been granted an ASX trading halt pending the release of contract award details.

Earlier this month, the company entered into a $1.2 million convertible loan facility with Bontempo Nominees, a related entity of chairman Carmelo Bontempo.

This provides working capital flexibility and supports the pursuit of new tender and work opportunities.

Bontempo is co-founded UGL Limited (ASX:UGL) an engineering services company that has grown to a value of over $1 billion.

He was also the long term Managing Director of Monadelphous (ASX:MND).

For the first six months of 2014, the company recorded a net profit before tax of $71,023 on revenues of $4.04 million.

This contrasts to the same corresponding period for 2013 where the company recorded a loss before tax of $0.88 million on revenues of $6.9 million.

Tempo remains focused on securing the 2015 pipeline for construction and maintenance projects direct with major resources, energy and construction companies.

The halt will last until the earlier of the announcement being made or the start of trading on Tuesday, 28 October 2014.

 

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.

Aurelia Metals intersects high grade gold-lead-zinc in New South Wales

Aurelia Metals (ASX:AMI) has intersected further high grade intersections at the southern end of the Hera gold-lead-zinc project in New South Wales.

The company has also commenced haulage of zinc-lead concentrate from the Hera Mine Site to the Hermidale rail siding in preparation for first concentrate train to port later this week.

First shipment remains on schedule for the December quarter.

The Hera mine site will ship concentrates in 5,000 tonne to 6,000 tonne lots to customers of the company’s offtake partner Glencore.

In addition, the Hera process plant is now in the final stage of commissioning with a focus on optimisation of recoveries and rectification of minor defects.


Hera South Drilling

Exploration drill holes completed from underground have continued to return numerous high-grade results from outside the existing Hera Reserve.

These extend the known limits of the Hera South and Main South leases. Key results include:

- 3.8 metres at 16.7 grams per tonne gold and 19% lead+zinc;
- 7.7 metres at 16.4g/t gold and 5.1% lead+zinc;
- 7.2 metres at 10.2g/t gold and 6.3% lead+zinc;
- 23.7 metres at 6.9g/t gold and 5.9% lead+zinc; and
- 8.9 metres at 11.8g/t gold and 7.5% lead+zinc.

The Hera South mineralisation is readily accessible from planned underground development.

Work is in progress to incorporate this material into the mine plan with potential for it to provide a near term source of higher grade ore to the processing plant.

Hera currently has Reserves of 2.44 million tonnes at 4.1g/t gold, 2.8% lead, 3.8% zinc and 16.7g/t silver and Resources of 1.8Mt at 3.6g/t gold, 2.5% lead, 3.5% zinc and 15g/t silver.


Hera-Nymagee

The Hera-Nymagee Project and consists of the high-grade underground Hera gold-lead-zinc-silver mine (Aurelia:100%) and the Nymagee copper deposit (Aurelia:95%).

These are hosted in the Cobar Basin, which also host the major mineral deposits at CSA, The Peak and Endeavor.

Aurelia is now in final plant commissioning stages of the Hera project with first production commenced in the September quarter 2014, and first concentrate shipments due in the December quarter 2014.

The Hera Mine produces gold and silver doré bars by gravity and concentrate leach and also produces a high-grade bulk-lead-zinc concentrate for sale.

The company is also evaluating the Nymagee copper deposit with a view to an integrated development of both deposits.



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.

Gulf Industrials, Mirabela Nickel, Gunson Resources among ASX % Gainers

Friday’s leading ASX % Gainers intra-day.

NameCodeLastChangeVolume
Gulf Industrials ASX:GLF $0.002 100% 15,116,508
Bass Metals ASX:BSM $0.003 50% 600,000
Australian American Mining ASX:AIW $0.003 50% 17,780,027
Mirabela Nickel ASX:MBN $0.045 36.364% 45,765,652
Australian Pacific Coal ASX:AQC $0.004 33.333% 275,000
Barra Resources ASX:BAR $0.008 33.333% 54,259
Zambezi Resources ASX:ZRL $0.090 28.571% 40,671
Straits Resources ASX:SRQ $0.005 25% 100,000
Black Range Minerals ASX:BLR $0.005 25% 7,246,303
Gunson Resources ASX:GUN $0.016 23.077% 300,000

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.

King River Copper negotiates equity for drilling at Speewah Dome

King River Copper (ASX:KRC) has received a vote of confidence with its drilling contractor agreeing to accept up to 35% of drilling costs for Phase 2 exploration of its Speewah Dome project in Western Australia in KRC shares.

The company has negotiated an agreed price of $0.045 per share, the same as its recent capital raising.

King River Copper is raising $900,000 through issue of 20 million shares priced at $0.045 each to sophisticated and professional investors.


Phase 2 Drilling

Drilling at the Speewah Dome project has been progressing well with visible copper observed in more than nine drill holes.

To date, 57 reverse circulation holes have been drilled at the Chapman, Greys-Catto, Eiffler North, Calamondah, Todhunter North, Todhunter and Todhunter South targets.

These have confirmed robust mineralised structures, with potential strike lengths of many kilometres.


Analysis

The alignment of the drilling contractor to the success of exploration at Speewah Dome by accepting King River Copper shares as part payment is a vote of confidence from the drillers in the project’s prospectivity.

There is a sense that with each phase of drilling, KRC is gaining a better understanding of the challenging geology and the dip and through cover to better target drill holes.

Finding visible copper doesn't hurt the cause.

There are now around 57 holes drilled with an average depth of around 40 metres depth at around 250m apart.

With drilling to re-start in November, this is worth watching.



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.

Galilee Energy drilling third oil well in Illinois

Galilee Energy (ASX:GLL) is now drilling the third well of its current program in Sangamon Country, Illinois, targeting a hydrocarbon migration pathway from a nearby oil field.

The Illinois Basin is a shallow, intracratonic basin that has already yielded over 4 billion barrels of oil.

It is well known for its Silurian and Devonian aged reservoirs that commonly yield initial flow rates of up to 1,500 barrels of oil per day from reservoirs only 600 metres deep and reserve sizes commonly in the multi-million barrel range.

This follows the company encountering strong oil and gas shows at the second well, Kramer-1, though drill stem testing failed to recover commercial hydrocarbons.

The shows in Kramer-1 were more prolific than in the first well, Hanner-1, located 10 miles to the north.

Drilling of the secondary target at Kramer-1 also encountered good live oil shows but was not tested due to the absence of good porosity indications.

Cunningham-1, the third well, targets the same Silurian Racine Formation intersected by the first two wells at similar depths of about 1,500 feet.

However, it is closer to the prolific producers located along the Mt Auburn trend four miles to the southeast.

It also targets the Ordovician Galena Group and Shakopee Dolomite as secondary objectives.



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.

De Grey Mining to start drilling base metals project in the Pilbara

De Grey Mining (ASX:DEG) will in early November commence a reverse circulation program at its Turner River Base Metals Project in Western Australia’s Pilbara region.

The six hole program is designed to increase base metal resources and delineate potential.

Current Inferred Resources at the project are 1.4 million tonnes grading 2.7% zinc, 84.44 grams per tonne silver, 1.1% lead, 0.08% copper and 0.56g/t gold at Orchard Tank and 1.05 million tonnes grading 2.63% zinc, 94.54g/t silver, 1.03% lead, 0.12% copper and 0.88g/t gold at Discovery.

Initial results from the drilling are expected before Christmas.


Turner River Base Metals Project

The Turner River Base Metals Project is one of two projects that was originally managed by Southern Cross Goldfields (ASX:SXG).

Prior to withdrawing from the two projects, Southern Cross expanded over $2 million exploring the projects.

Besides providing the data to update the Inferred Resource, this also identified at least 10 mineralised prospects from just 7 kilometres of drilling along a 23 kilometre strike length.

In addition, Rugby Mining – De Grey’s joint venture partner at the Turner River Gold Project – is currently carrying out drilling on the project.

This allows the company to capitalise on the opportunity for improved drilling costs by virtue of rigs and drilling teams already in the region.

 

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.