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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

Uncertainty pushes crude oil higher, but by how much?

Crude oil futures rose Thursday buoyed by uncertainty surrounding Ukraine as well as some upbeat U.S. economic data that bode well for the outlook on energy demand.

May crude increased 0.5% to end at US$104.30 a barrel on the New York Mercantile Exchange—the highest settlement since March 3.

Prices ended the holiday-shortened week with a gain of 0.5%.

 

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.

 

Gold eases as U.S. confidence rises

Gold futures closed at a two-week low Thursday, with prices under US$1,300 an ounce as signs of gains in the U.S. economy eroded demand for the metal as a store of value.

Gold for June delivery dropped 0.7% to finish at US$1,293.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement marked the lowest since April 3, according to FactSet data.

With trading on Comex closed for Good Friday, the metal ended the holiday-shortened week with a loss of 1.9%.

Consumer confidence rose from a nine-week low as Americans grew more upbeat about the economy, and jobless claims were close to the lowest in almost seven years, data showed today.

The Federal Reserve Bank of Philadelphia factory index, a gauge of regional manufacturing, climbed to 16.6 in April, topping estimates by analysts.

In other metals, May silver surrendered 0.2% to finish at US$19.60 an ounce—down 1.8% on the week.

May high-grade copper added 0.6% to finish at US$3.045 a pound, ending roughly around the same level it ended last week with.

July platinum lost 0.6% to settle at US$1,428.70 an ounce—around 2.3% lower on the week, while June palladium edged up 0.6% to US$807.10 an ounce, about 30 cents above where it closed at the end of last week.

 

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.

Bullabulling Gold soars as Norton Gold Fields pounces

Shares in Bullabulling Gold (ASX: BAB, LON: BGL) shot up as the company revealed it has received a takeover offer from Norton Gold Fields (ASX: NGF).

Shareholders are invited to sit tight while the board considers the merits of the offer, which has been pitched at a price of 7 cents a share, a 30% premium to the closing share price of Bullabulling on the Australian Stock Exchange on 16 April.

“The Bullabulling Gold Project has significant funding challenges which a small company such as Bullabulling will have ongoing difficulties managing," claimed Dr Dianmin Chen, chief executive officer of Norton Gold Fields.

"By accepting the offer, Bullabulling shareholders will remove their exposure to these major financing risks and the likely continued dilution in the value of their shareholdings," he added.

Norton said shareholders representing 6.6% of the issued share capital of Bullabulling have already indicated their intention to accept the offer.

Norton has pounced on its fellow Aussie gold miner after Bullabulling started drilling at its namesake gold project in Western Australia earlier this month as it moves towards producing a definitive feasibility study.

Shares in Bullabulling rose 32% to 3.95p in London, valuing the company at about £13.5mln.

Broker Westhouse Securities, however, has a 17p price target on the stock.

 

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.

Day of discoveries as majors unveil deep water successes

It is a day of discovery for some in the oil and gas business, with majors Total and Shell revealing new finds.

Shell announced that the deep-water Rosmari-1 well, around 135 kilometres off the Malaysian coast, had encountered a 450 metres gas column.

The Anglo-Dutch oil major said this was an area of strategic interest, and that the Rosmari result was a positive indicator ahead of more planned exploration in the future.

"Rosmari-1 is a testament to our ability to successfully drill and build understanding of new geology within our existing exploration heartlands, adding value to our existing assets in Malaysia," said Andy Brown, director of Shell Upstream International.

Meanwhile, in the deep waters off West Africa, Total said it has found ‘liquid hydrocarbons’ in the Saphir-1XB exploration well.

The well target what Total describes as an ‘abrupt margin play’ in a frontier area, off Ivory Coast, and it unearthed a series of reservoirs, including 40 metres of net oil pay.

This is not Total’s only discovery offshore Ivory Coast, and it said it will continue to evaluate the drill campaign’s findings. The French major is on something of a roll with the drill-bit in West Africa. Prior to today’s find, last week it announced a new discovery offshore Angola.

Elsewhere, in the crude market, futures were mostly flat in the morning’s trade in London with Brent Crude down 20 cents per barrel at US$109.40 whilst West Texas Intermediary crude was up 14 cents at US$103.90.

 

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, Fortescue Metals Group and Telstra among Thursday’s ASX Volume Leaders

Thursday’s leading volume stocks on the ASX.

NameCodeLastChangeVolume
Condor Blanco Mines CDB $0.015 -6.25% 54,516,463
Avalon Minerals AVI $0.015 25% 49,309,900
Minera Gold MIZ $0.006 50% 41,238,155
Fairfax Media FXJ $0.980 1.554% 36,654,149
Austin Exploration AKK $0.011 -8.333% 32,903,299
Cape Alumina CBX $0.007 -22.222% 30,522,726
Fortescue Metals Group FMG $5.330 -1.113% 20,806,300
Telstra TLS $5.130 0.588% 18,786,540
Japara Healthcare JHC $2.700 0% 18,502,724
Mirvac Group MGR $1.760 0.86% 17,902,366

 

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.

Anchor Resources gains more funding from China Shandong Jinshunda Group

Anchor Resources (ASX: AHR) has extended its existing finance facility with major shareholder China Shandong Jinshunda Group to $13 million from $7 million, allowing it to continue its exploration program over the next 12 months.

The amendments also extend the repayment date on the facility to 31 March 2017.

It has an interest rate equal to the Commonwealth Government Bond Yield plus 250 bps per annum.

The company has recently identified its Birdwood North prospect in New South Wales as a strong coincident copper-molybdenum geochemical and magnetic low anomaly with favourable geology.

It has also identified a drill target, success of which would allow the company to reassess “second order” targets to generate further drill targets.

Anchor has also intersected gold over long intervals at the Tyringham East of its Blicks Project in New South Wales.

 

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.

Phoenix Gold adds Geologic Resource Fund as substantial shareholder

Phoenix Gold (ASX: PXG) has received a notice of initial substantial shareholder from Geologic Resource Fund and related funds, which now holds a 8.66% interest in the company.
   
Geologic Resource Fund was allocated 19 million shares under the company’s recently completed placement of 60 million shares priced at $0.13 each to raise $7.8 million.

This increased Geologic’s stake in Phoenix to 26 million shares.

Funds from the placement will be used for development of its Castle Hill project in Western Australia.

This enables the commencement of a staged development plan, with grade control and mine extension drilling having commenced on the development projects.

Phoenix is eyeing near-term cash flows, with third party million negotiations advancing - with an agreement expected early in the June quarter 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.

Hawkley Oil & Gas' production and revenue unaffected by Ukraine tensions

Hawkley Oil & Gas (ASX:HOG) should trade firmer after confirming that its operations in Ukraine have not been impacted by the ongoing geopolitical tensions currently being experienced in certain areas of the country.

The location of Hawkley’s Sorochynska 201 well and production facility are in areas entirely unaffected by the current situation.

As such, Hawkley continues to operate as normal, staff in the field and in the head office in Kiev are safe and well. 

In addition, the gas compressor unit has now been installed at the Sorochynska 201 well, which will allow Hawkley to maximise production from the field, with the potential to increase recoveries and expected production levels.

Increased recent gas prices are also expected to have a positive impact on Hawkley's cash inflows this quarter.

Hawkley continues to pursue farm-out and joint venture agreements with suitable partners, and target suitable project participation opportunities that offer near-term revenue generation potential.

Given its robust production profile, Hawkley could present value at its current market cap of under $6 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.

My ATM Holdings executes share sale agreement to acquire iWebGate Technology

My ATM Holdings (ASX:MYA) have executed the formal Share Sale Agreement to acquire 100% of all rights and title in the issued capital of iWebGate Technology.

iWebgate has created a software platform that provides a virtual network of services between a primary network and all other internal and external networks including the Internet.

Deployed via cloud or locally installed, iWebGate’s Virtual Services Platform moves protection for connected networks from firewalls to entirely compartmentalised networks.

The result of not directly exposing primary network services is an uplift in cyber security, collaboration and new capabilities.

MYA will issue 1,848,891,600 shares to existing iWebgate shareholders and pay $865,694 cash for the purpose of repaying loans.

Last month, MYA completed a placement of 25 million new shares to sophisticated investors, raising $1 million at $0.04 per share.

Since the acquisition was announced, MYA shares have risen 20-fold to a high of $0.12, from $0.006, and last traded at $0.095.

 

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.