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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

Austin Exploration, Lynas Corporation, Panorama Synergy among ASX Volume Leaders

Thursday's leading volume stocks on the ASX.

CompanyCodeLastChangeVolume
Austin Exploration AKK $0.014 16.67% 116,811,519
Lynas Corporation LYC $0.170 -17.07% 58,338,696
Panorama Synergy PSY $0.115 150% 54,206,369
Oz Brewing OZB $0.010 100% 48,007,694
Quickflix Ltd QFX $0.018 5.88% 44,525,486
Segue Resources SEG $0.014 16.67% 33,445,324
OBJ Ltd OBJ $0.084 -20% 32,261,676
Healthscope Ltd HSO $2.260 -0.44% 31,110,183
Black Range Minerals BLR $0.005 25% 29,205,000
Rox Resources RXL $0.050 -5.66% 25,602,118

 

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.

Tiaro Coal raising funds through share purchase plan

Tiaro Coal (ASX:TCM) is raising funds through a Share Purchase Plan to progress its exploration activities and to provide working capital.

The offer price will be the lower of $0.082, or a 15% discount to the volume-weighted average price of TCM shares traded on the ASX over the five trading days up to and including when the offer closes on 5 September.

Shareholders can purchase up to $15,000 worth of shares. The offer is open to the limit of 30% of its issued capital according to the ASX Listing Rules.

“Tiaro is giving its shareholders the first opportunity to participate in a capital raising ahead of brokers and sophisticated investors,” chief executive officer Dan Buckley said.

“This approach allows shareholders who participate to maintain their equity position in Tiaro and not dilute.

“Directors that hold shares have indicated that they will be participating at the maximum level permissible.

“A strong response by shareholders will alleviate the need to raise additional funds in the short term.”

Tiaro Coal holds a 47.6% interest in Paragon Coal, which owns EPC 956 and EPC 957 in the Maryborough Basin in South East Queensland.

EPC 956 hosts the T9 West Area, which has a total Resource of 87 million tonnes of coal.

The company had recently commenced a Pre-Feasibility Study studying a potential 5.5 million tonnes per annum Run of Mine production from 19 coal seam groups that carry metallurgical coal.

 

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.

Queensland Mining Corporation expands into graphite exploration

Queensland Mining Corporation (ASX:QMN) revealed in its recent quarterly report that it has signed a farm-in agreement with Orbit Capital for graphite exploration at a project in Cloncurry, Queensland.

Under the agreement, Orbit Capital is to undertake exploration and complete two reverse circulation drill holes targeting graphite mineralisation within the next 12 months, to earn an 80% interest in any graphite discovery.

QMN retains 100% of other metal rights within the tenement.

Copper exploration work is ongoing at QMN's flagship White Range project where the most recent drill hole intersected 40 metres at 0.3% copper and 365ppm cobalt from 14 metres.

Assays for a one diamond hole drilled at the Black Fort prospect are expected shortly. Visual examination of this drill core revealed wide zones of carbonate alteration and sulphide copper mineralisation throughout the target zone.

QMN is also in negotiation with multiple parties interested in joint development of its White Range copper project.

The company retained around $1.8 million in cash at the end of the quarter, and is capitalised at $16 million.

 

Minotaur Exploration hits high grade copper-gold-zinc at Artemis

Minotaur Exploration (ASX:MEP) is likely to trade substantially higher today after reporting a significant copper-zinc-gold-silver discovery at its Artemis prospect in the Cloncurry region of Queensland.

The first drill hole at the Artemis Prospect, 20 kilometres west of the Eloise Copper mine, intersected a broad zone of polymetallic mineralisation.

Assays received to date have included 22 metres at 3% copper, 3.8 g/t gold, 112 g/t silver and 6.6% zinc from 157 metres.

This interval incorporated a higher grade section of 9 metres at 5.2% copper, 7.9 g/t gold, 181 g/t silver and 10.2%
zinc from 167 metres.

A zone of massive sulphides, flanked by peripheral zones of veining, was also encountered over a 34 metre intercept
from 148 to 182 metres.

The 10-hole drill program at 9 greenfield target sites commenced in June, with 8 holes now completed and assays awaited.

This exploration work is covered by the Eloise Copper Joint Venture with Golden Fields Resources.

Upon expenditure of $6 million over 4 years, Golden Fields may earn a 50% interest in the tenements.

Minotaur is capitalised at around $21 million, and also controls copper-gold projects in Western Australia, New South Wales and South Australia.

 

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.

Global Strategic Metals to hive off lithium

Global Strategic Metals (ASX:GSZ) plans to separate its lithium and silver businesses by demerging its Wolfsberg Lithium Project in Austria.

This will be affected via a pro-rata in-specie distribution of 80% of shares in ECM Lithium AT (Holdings) Limited (European Lithium), which holds Wolfsberg, to its shareholders.

European Lithium will apply for listing on the Alternative Investment Market and has appointed a Nominated Advisor to assist with an application for admission to trading.

GSZ will be removed from the official list of the ASX on 15 August 2014 with the last day of trading on 8 August.

The company was in April granted mining leases in perpetuity over the Wolfsberg Project, which currently hosts an Inferred Resource of 16.9 million tonnes at 1.6% lithium oxide.

This offers substantial exploration upside with the ore body remaining open at depth and along strike.

GSZ has outlined a path forward, which will include completing mineral processing studies using 2011 technology to get product specifications and samples for spodumene (Lithium), quartz, feldspar and mica.

 

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 exits funding facility

Axiom Mining (ASX:AVQ) has terminated by mutual consent and at no cost, a Share Purchase and Convertible Note Agreement that was in place from February to July 2014.

The funding facility had allowed the company to remain focused on its litigation over the Isabel Nickel Project in the Solomon Islands while maintaining operational momentum.

Closing oral submissions in the High Court trial over the Isabel nickel deposit were completed by 1 July 2014, and Axiom looks forward to receiving judgment by September 2014.

The company added it is satisfied it can fund its operations over the coming months.

 

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.

Panorama Synergy's optical readout system gets the nod

Panorama Synergy's (ASX:PSY) shares are expected to leap high after it demonstrated the viability of its laser-based Optical Readout System, the LumiMEMS Reader.

In partnership with the University of Western Australia, Panorama has developed a patented optical reader for Micro Electro Mechanical Systems (MEMS) which enables the detection and measurement of previously undetectable substances.

As a result, Panorama has commenced development first generation systems for potential new end market applications.

MEMS are sensitive measuring systems smaller than the width of a human hair that are able to measure acceleration, gravity, chemicals, the indicators of disease or the presence of explosives.

All MEMS devices need a readout system to assess and communicate the data that is measured.

Currently MEMS readers measure and communicate information electronically, which is subject to interference from electrical ‘noise’ from nearby devices and the environment.

The only alternative technology, which is more sensitive and therefore more accurate, is an optical system using a laser directed at a MEMS sensor.

However, these are currently only able to operate in laboratories due to their large size, sensitivity to vibration, and the need to precisely align the laser with the tip of the tiny MEMS sensor.

In addition, these readers can usually only measure one, or very few MEMS sensors at a time.

By contrast, Panorama’s LumiMEMS Reader is a portable, autonomous readout system which combines the accuracy and sensitivity of the optical reader with the size and portability of the electrically based system.

In addition, a chip that has several hundred MEMS sensors can be read simultaneously by one LumiMEMS Reader, therefore it is statistically more accurate than laboratory mounted optical systems.

The MEMS market is estimated to be $14 billion in 2014, and growing to over $22 billion by 2018, not including the potential for opening new markets.

 

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.

Panorama Synergy, Foyson Resources, Entellect Ltd among ASX % Gainers at midday

Thursday's leading ASX% Gainers at midday.

CompanyCodeLastChangeVolume
Panorama Synergy PSY $0.096 108.70% 30,619,986
Foyson Resources FOY $0.002 100% 1,500,000
Entellect Ltd ESN $0.002 100% 4,500,000
Water Resources Group WRG $0.002 100% 657,520
Blaze International BLZ $0.002 100% 4,658,517
Minotaur Exploration MEP $0.215 53.57% 4,954,649
Goldsearch Ltd GSE $0.003 50% 495,000
Environmental Clean Tech ESI $0.003 50% 3,484,333
Australian Mines AUZ $0.009 50% 2,811,362
Argentina Mining AVK $0.019 46.15% 648,796
West Wits Mining WWI $0.010 42.86% 90,000

 

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.

Indochine Mining to release resource statement for Mt Kare in PNG

Indochine Mining (ASX:IDC) will release a resource statement for the company's Mt Kare Project in Papua New Guinea when it exits a trading halt by 4 August 2014.

Today, the company advised it was in discussion with a substantial shareholder regarding future funding and the servicing of its creditors and loan providers.

Chairman Hugh Thomas resigned as well as Robert Thomson a non-executive director and Stephen Promnitz as chief executive officer with immediate effect.

The company has appointed Dermott McVeigh as an interim director and chairman of the company.

He has over 15 years’ experience as a restructuring specialist in the Mining and Mining Service Industry.

 

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.