http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Sat, 25 Mar 2017 22:43:45 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - BidEnergy wins energy-tracking contract with retail giant in the U.S. ]]> http://www.proactiveinvestors.com.au/companies/news/175028/bidenergy-wins-energy-tracking-contract-with-retail-giant-in-the-us-175028.html BidEnergy (ASX:BID) has secured a contract with one of the world’s largest retailers to provide energy-efficiency rebate tracking and administration for its U.S. locations.

BidEnergy is a software-as-a-service (SaaS) company that uses robotic process automation (RPA) to optimise the energy spend of multi-site customers.

The new contract win follows BidEnergy’s recent acquisition of energy rebate capture specialist RealWinWin.

RealWinWin secures rebate from utilities on behalf of customers via energy efficiency programs.

The new contract provides the retail giant with automated energy-efficiency rebate tracking and administration across its U.S. locations.

BidEnergy anticipates that the contract for rebate capture services will provide a revenue stream within a range of US$150,000 to US$250,000 over the 12-month contract term.

The revenue will be driven by the rate of rollout of energy efficient infrastructure by the retailer.

BidEnergy completed its backdoor listing on the ASX in July 2016 via a reverse takeover deal with Cove Resources and raised $7 million in new capital.

Last year, the company signed contracts with BP plc's (LON:BP) Australian and New Zealand businesses.

Importantly, BidEnergy’s annual contract subscriptions increased by 94% between 30 June 2016 to 31 December 2016, to a total of $1.4 million.

The company was well funded as at 31 December 2016 with a cash balance of $6.3 million.

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Mon, 20 Mar 2017 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/175028/bidenergy-wins-energy-tracking-contract-with-retail-giant-in-the-us-175028.html
<![CDATA[News - BidEnergy Ltd acquires U.S. energy rebate capture specialist ]]> http://www.proactiveinvestors.com.au/companies/news/169499/bidenergy-ltd-acquires-us-energy-rebate-capture-specialist-169499.html BidEnergy’s platform provides enterprises with multiple sites control over their energy spend, from sourcing to billing and accounts payable.

The acquisition delivers BidEnergy a functioning channel and immediate and direct access to energy category managers in over 100 multisite prospects.

RealWinWin secures rebates from utilities on behalf of customers via energy efficiency programs.

Acting as an agent, RealWinWin delivers a data service that is highly complementary to BidEnergy’s integrated source-to-pay platform in serving customers with large geographic footprints.

RealWinWin has established revenues from a proven sales and service team who have a deep utility knowledge.

The upfront consideration payable for the acquisition is comprised of (i) US$220,000 cash; (ii) 8,682,331 BidEnergy shares; and (iii) 3,858,814 unlisted options.

BidEnergy completed a backdoor listing on the ASX in July through Cove Resources Ltd after raising $7 million in new capital.

In July, the company clinched an agreement to supply its platform to BP plc's (LON:BP) Australian and New Zealand businesses.

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Fri, 25 Nov 2016 09:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169499/bidenergy-ltd-acquires-us-energy-rebate-capture-specialist-169499.html
<![CDATA[News - BidEnergy Ltd enters lucrative U.S. energy management market ]]> http://www.proactiveinvestors.com.au/companies/news/166209/bidenergy-ltd-enters-lucrative-us-energy-management-market-71124.html BidEnergy Ltd (ASX:BID) has formally launched its cloud-based source-to-pay energy management platform in the U.S. market.

BidEnergy’s platform provides enterprises with multiple sites control over their energy spend, from sourcing to billing and accounts payable.

As a “source to pay” solution, the platform uses automation to deliver value over the entire contract lifecycle, with savings from advanced sourcing and analytics to reduce utility charges.

The U.S. launch follows extensive beta testing for the local market and builds on BidEnergy’s success in the Australian and New Zealand markets with national chain stores and other multi-site entities.

BidEnergy has appointed Phil Adams as its U.S. chief executive officer to drive the U.S. expansion.

‘Energy spend’ has been an outlier in the U.S. eProcurement trend that has successfully automated and centralized nearly every other organizational spend category.

The introduction of BidEnergy’s source-to-pay platform in the U.S. is expected to provide managers all the automation and data they need to manage energy centrally and cost-effectively.

BidEnergy completed a backdoor listing on the ASX in July through Cove Resources Ltd after raising $7 million in new capital.

In July, the company clinched an agreement to supply its platform to BP plc's (LON:BP) Australian and New Zealand businesses.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 21 Sep 2016 15:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/166209/bidenergy-ltd-enters-lucrative-us-energy-management-market-71124.html
<![CDATA[News - BidEnergy Ltd clinches deal with BP plc for Australia and New Zealand ]]> http://www.proactiveinvestors.com.au/companies/news/133026/bidenergy-ltd-clinches-deal-with-bp-plc-for-australia-and-new-zealand-69962.html Newly listed BidEnergy Ltd (ASX:BID) has soared after clinching an agreement to supply its cloud-based energy management platform to BP plc's (LON:BP) Australian and New Zealand businesses for electricity supplies.

BidEnergy had just completed a backdoor listing on the ASX earlier this week through Cove Resources Ltd after raising $7 million in new capital.

BidEnergy’s platform provides enterprises with multiple sites control over their energy spend, from sourcing to billing and accounts payable.

The subscription agreement with BP was won via a competitive tender process against a suite of local and global consultancies.

BP has over 600 electricity meters across Australia and New Zealand and BidEnergy will provide source-to-pay services to BP’s Australian and New Zealand business units.

This will provide data and reporting access to business analysts in Europe and the U.S. at the same time.

The agreement is for an initial 24 months period and is set to commence in August 2016.

BidEnergy’s platform also allows energy suppliers to bid and provide the most cost-effective service to clients.

Following the listing, the company’s focus will be on the rollout of the BidEnergy platform to deregulated markets in UK, Europe and North America, through direct sales and channel partners.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 21 Jul 2016 16:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/133026/bidenergy-ltd-clinches-deal-with-bp-plc-for-australia-and-new-zealand-69962.html
<![CDATA[News - Cove Resources Ltd upbeat on progress of cloud energy management acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/133025/cove-resources-ltd-upbeat-on-progress-of-cloud-energy-management-acquisition-67904.html Cove Resources Ltd’s (ASX:CVE) transition from the resources sector has gained impetus with the reverse takeover of BidEnergy Pty Ltd and announcement it will provide its cloud-based energy spend management software to a $3 billion ASX-listed support services provider.

BidEnergy provides energy spend management platforms that enable users to manage their energy spend life cycle from sourcing, category management through finance and account payable.

The 24 month subscription agreement is to initially cover more than 100 customer sites in Australia with possible expansion to US sites.

BidEnergy will generate revenue from monthly subscription fees on a site-by-site basis. First revenues are expected to be recorded in April 2016.

Cove Resources is an exploration company that is transforming into a new look industry through the acquisition of Bid Energy.

In March 2016, Cove Resources executed a binding share sale and purchase agreement with the majority shareholders of BidEnergy as part of its proposed 100% acquisition of BidEnergy.

Cove Resources’ shares are trading slightly higher today on the ASX.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 06 Apr 2016 18:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/133025/cove-resources-ltd-upbeat-on-progress-of-cloud-energy-management-acquisition-67904.html
<![CDATA[News - Cove Resources shares fly on tech acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/133024/cove-resources-shares-fly-on-tech-acquisition-65805.html Cove Resources (ASX:CVE) shares were trading as much as 58% higher today as the company confirmed its acquisition of a tech company focused on energy sector efficiencies.

Stock in the company was last trading 25% up at A$0.015, which represents a 400% improvement since the beginning of September.

Following up a strategy announced in October to seek new complementary, value-accretive assets, Cove has executed a term sheet to acquire cloud-based energy spend management provider BidEnergy.

BidEnergy’s “software as a service” platform offers a single solution to manage a customer’s entire energy spend life cycle - from strategic sourcing, category management through to finance and accounts payable.

This business model targets the many inherent difficulties for multi-site organisations trying to manage their energy spend and has delivered more than $200 million worth of energy contracts.

BidEnergy services allow multi-site energy customers (including retail chains, banks, real estate, utilities and government) to benefit from savings of up to 15% compared to a traditional tender or standard reverse auction processes.

The company also boasts a fully-integrated ‘big data’ platform that manages all supplier bills, rapid interval data (smart meters), tariffs and contracts while end-to-end automation allows for reductions in internal management costs of up to 90%.

This business already includes more than 4,500 sites under management in Australia, New Zealand and the UK, and is targeting a total addressable market – including European and U.S. clients – comprising more than 15 million sites.

After Cove completes a consolidation of its securities on a 20:1 basis, a capital raising will seek to generate $7 million to fund business development and expansion activities in the U.S.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 25 Nov 2015 15:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/133024/cove-resources-shares-fly-on-tech-acquisition-65805.html
<![CDATA[News - Cove Resources rides high on acquisition expectation ]]> http://www.proactiveinvestors.com.au/companies/news/133023/cove-resources-rides-high-on-acquisition-expectation-65753.html Shares in Cove Resources (ASX:CVE) were trading 33.3% higher than their opening price today as the company requested a trading halt regarding an acquisition.

Cove stock was last trading at A$0.012, which represents a level 300% higher than at the beginning of September.

The request today to suspend trading was announced pending details expected by Wednesday on an acquisition.

The company confirmed in late October that it had begun a program to seek new complementary projects or other value-accretive assets.

The strategy has been touted as a means of meaningfully building value as exploration programs continue on existing resource projects.

Cove’s Goongarrie project 90 kilometres north of Kalgoorlie in Western Australia is considered prospective for gold, while the Quartz Circle project in WA’ Pilbara region is targeting economic concentrations of VMS mineralisation.

The company held cash at the end of the September quarter totalling A$1.1 million.  


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 23 Nov 2015 16:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/133023/cove-resources-rides-high-on-acquisition-expectation-65753.html
<![CDATA[News - Cove Resources receives Finnish government nod for Koivu titanium mining concession ]]> http://www.proactiveinvestors.com.au/companies/news/133022/cove-resources-receives-finnish-government-nod-for-koivu-titanium-mining-concession-42835.html Cove Resources (ASX:CVE) has been granted the mining concession for the Koivu titanium project from the Finnish government, marking a milestone for the development of the project.

The grant of the concession has set in motion a community consultation period, which is likely to be finished on 27 May 2013.

Cove acquired the Koivu titanium project last July for a total consideration of about A$11.2 million.

The project area hosts five titanium deposits, with aggregated JORC indicated and inferred resources for two of the deposits totaling 68.7 million tonnes at an average of 7.5% titanium dioxide.

The JORC resource is more than twice the resource required for the current mine plan of 20 year mine life processing 1.6 million tonnes per annum.

The other three deposits are yet to be drilled to JORC standards.

The company expects to obtain environmental approvals next year.

A positive scoping study completed last year indicated an NPV of US$131 million with an IRR of 32%.

The company recently received the final approval of a $5 million debt facility from RMB Resources that would pave the way for the start of work on the Koivu feasibility study.


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.

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Fri, 03 May 2013 09:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/133022/cove-resources-receives-finnish-government-nod-for-koivu-titanium-mining-concession-42835.html
<![CDATA[News - Cove Resources secures $5 million debt facility for Finland titanium project ]]> http://www.proactiveinvestors.com.au/companies/news/133021/cove-resources-secures-5-million-debt-facility-for-finland-titanium-project-40701.html Cove Resources (ASX:CVE) has secured an in-principle approval for a $5 million debt facilty that will help with the completion and acquisition of bankable feasibilty study at Koivu titanium project in Finland.

The debt facility comes after RMB Resources successfully completed the due diligene on the Koivu titanium project.

The facility is subject to completion of a number of conditions precedent including final credit approval which is expected in late March 2013 and completion of formal loan documentation.

The funds will be drawn down in two tranches with $3.0 million available at closing and the balance of $2.0 million subject to the completion of an equity raising of $3.0 million.

The loan documentation and condition precedent signoffs are likely to be completed before 15 April 2013 when the tranche two acquisition payment of Euro 850,000 is due.

Last July Cove Resources had unveiled the plan to acquire Cove Finland Oy, which gave it control of the Koivu titanium project for a total consideration of Euro 9 million.

The Koivu titanium project could lead Cove to become a major producer of high quality titanium feedestock in Finland.

Cove has already secured shareholder approval for the issue of the securities

 

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.

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Tue, 12 Mar 2013 16:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/133021/cove-resources-secures-5-million-debt-facility-for-finland-titanium-project-40701.html
<![CDATA[News - Cove Resources' Scoping Study demonstrates viability of titanium project in Finland ]]> http://www.proactiveinvestors.com.au/companies/news/133020/cove-resources-scoping-study-demonstrates-viability-of-titanium-project-in-finland-31627.html Cove Resources (ASX: CVE) has delivered an independent Scoping Study over the Koivu Titanium Project in Finland which could position Cove as a significant, long-term supplier of quality Titanium concentrate into European markets.

The project, which Cove recently acquired for €9 million (A$11.2 million) has confirmed the ability to produce titanium concentrate at 250,000 tpa and magnetite at 48,000 tpa plus apatite.

The company has now been removed from a trading halt.

The study indicates a NPV of US$131 million and an IRR of 32% (pre-tax, 10% real discount rate, 100% equity, direct and indirect capital costs plus 35% capital expenditure contingency), with a estimated direct capital expenditure of US$57.6 million.

Another outcome is the annual operating margin of A$28.63 million, with operating costs of $110.50 per tonne of Ilmenite Concentrate after magnetite by-product credits.

Importantly - the results confirm the technical and financial viability for the proposed development of the project, and demonstrate existing resources can support a 1.6M tpa operation over a 20 year operational life.

Results also show the ability to produce titanium concentrate at 250,000 tpa and magnetite at 48,000 tpa plus apatite.

Cove has the potential to start production in 2015, and become an international supplier of high quality titanium pigment feedstock to European plants - with significant freight advantages into the European market.


JORC Resources

Koivu hosts five titanium deposits with a combined JORC Indicated and Inferred Resources of 68.7 million tonnes at 7.5% titanium dioxide (TiO2), which equates to over 5 million tonnes of contained TiO2.

Worth noting is also the potential to expand the titanium resource through drilling as the current JORC compliant ore bodies remain open at depth. The Pera Lyly and Riutta deposits also provide options to increase the resources by proceeding to JORC estimates.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Tue, 24 Jul 2012 14:10:00 +1000 http://www.proactiveinvestors.com.au/companies/news/133020/cove-resources-scoping-study-demonstrates-viability-of-titanium-project-in-finland-31627.html
<![CDATA[News - Cove Resources has Scoping Study results on the table, halt granted pending release ]]> http://www.proactiveinvestors.com.au/companies/news/133019/cove-resources-has-scoping-study-results-on-the-table-halt-granted-pending-release-31515.html Cove Resources (ASX: CVE) has some potentially very interesting news on the horizon with the company granted a trading halt by the ASX pending the release of a Scoping Study.

Cove has not yet indicated the project for the study, but earlier in the month the company acquired the advanced stage Koivu Titanium Project in Finland for a total consideration of €9 million (A$11.2 million) - and said a Scoping Study was due within weeks.

Koivu hosts five titanium deposits with a combined JORC Indicated and Inferred Resources of 68.7 million tonnes at 7.5% titanium dioxide (TiO2), which equates to over 5 million tonnes of contained TiO2.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 24th July.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Fri, 20 Jul 2012 09:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/133019/cove-resources-has-scoping-study-results-on-the-table-halt-granted-pending-release-31515.html
<![CDATA[News - Cove Resources makes tantalising titanium acquisition in Finland ]]> http://www.proactiveinvestors.com.au/companies/news/133018/cove-resources-makes-tantalising-titanium-acquisition-in-finland-31100.html Cove Resources (ASX: CVE) has acquired the advanced stage Koivu Titanium Project in Finland for a total consideration of €9 million (A$11.2 million) plus a 2% net smelter royalty.

The deal could see Cove Resources into production at the project by 2015.

The acquisition is subject to due diligence.  Finland is often a country of choice for mining operations due to its stability and near zero sovereign risk.

The impact of the acquisition is company making for Cove, as the project has already chalked up a JORC Resource, conclude a Scoping Study in two weeks and commence a Bankable Feasibility Study to produce an initial 20 year/250,000 tonnes of titanium pigment concentrate.

Cove could become an international supplier of high quality titanium pigment feedstock to European plants with significant freight advantages into the European market.

Koivu hosts five titanium deposits with a combined JORC Indicated and Inferred Resources of 68.7 million tonnes at 7.5% titanium dioxide (TiO2), which equates to over 5 million tonnes of contained TiO2.

Woth noting is also the potential to expand the titanium resource through drilling as the current JORC compliant ore bodies remain open at depth. The Pera Lyly and Riutta deposits also provide options to increase the resources by proceeding to JORC estimates.

Cove has entered into a Sale and Purchase Agreement with Endomines AB (publ), Sweden, to acquire Kalvinit Oy, which is the company that owns the Koivu Titanium Project. The right to enter into the Sale and Purchase Agreement was acquired from Delta Minerals, a private company based in the UAE, through a nomination agreement.


Production of a high quality titanium feedstock

Cove will target the local Finnish and European markets to sell the produced high quality titanium feedstock, which is used in the manufacture of titanium dioxide, which is widely used in paint, plastic, paper and cosmetics industries.


Due diligence

Cove will have the right to conduct a Bankable Feasibility Study on the project until 15 April 2013, at which point Cove is to confirm whether it wishes to proceed with completion of the acquisition with Endomines AB (publ).

On due diligence, Cove has already started to re-optimise and validate the resources and conduct an updated Scoping Study, after which it is envisaged that a Bankable Feasibility Study will be initiated immediately for an initial 20 year mining operation.

Output would start at 250,000 tonnes per annum of titanium pigment concentrate and over 50,000 tonnes of magnetite and phosphorus. The 20 year mine life requires only 32 million tonnes to be extracted from the Resource of 68.7 million tonnes.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Tue, 10 Jul 2012 13:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/133018/cove-resources-makes-tantalising-titanium-acquisition-in-finland-31100.html
<![CDATA[News - Cove Resources in pre open pending Finland titanium project acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/133017/cove-resources-in-pre-open-pending-finland-titanium-project-acquisition--30981.html Cove Resources (ASX: CVE) has some potentially very big news on the horizon with the ASX granting the company a trading halt pending the release of acquisition details on a Titanium project in Finland.

Cove has not yet released any further details, but the acquisition would be a move away from its Australian focused projects.

Currently Cove's main projects include the wholly owned Tally Ho Silver/Gold and Base Metals Project in Queensland, the 80% owned Quartz Circle Copper Gold VMS Project in Pilbara and the 80% owned Goongarrie Gold Project in Goldfields of Western Australia.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 10th July.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Fri, 06 Jul 2012 08:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/133017/cove-resources-in-pre-open-pending-finland-titanium-project-acquisition--30981.html
<![CDATA[News - Cove Resources to acquire Blenheim Resources, gain access to VMS, iron projects ]]> http://www.proactiveinvestors.com.au/companies/news/133016/cove-resources-to-acquire-blenheim-resources-gain-access-to-vms-iron-projects-21382.html Cove Resources (ASX: CVE) has entered into a binding term sheet to acquire 100% of Blenheim Resources (ASX: BHR), giving it access to several highly prospective projects in Western Australia.

Blenheim has rights to acquire the West Australian projects pursuant to tenement acquisition agreements with a number of vendors. These acquisitions will be completed as part of the Cove transaction.

Consideration for the deal includes the allotment of more than three million shares and three million options, at an exercise price of $0.25 each, to Blenheim shareholders and 4.2 million shares and 2.1 million options to Blenheim portfolio tenement vendors, at the same price.

The companies are aiming to complete the transaction by the end of December 2011, and Cove Resources will begin exploration at the projects in 2012.

Blenheim’s project portfolio

Blenheim’s projects are located in Western Australia, with prospectivity for base metals, gold, silver and direct shipping ore iron ore.

Projects included in the agreement with Cove are the Quartz Circle and Mud Crab volcanogenic massive sulphide projects in the Pilbara region and the Gidgee Iron project in the Yilgarn region.

Quartz Circle contains widespread copper, gold, silver, zinc and lead mineralisation, with a small existing copper-gold Resource of 93,000 tonnes at 2.92% copper and 0.24 grams per tonne gold.

The Mud Crab volcanogenic massive sulphide project in the Pilbara region is prospective for copper, gold and antimony. It also has a strong geological and structural association of lead-zinc-silver and copper-gold-silver mineralised volcanogenic massive sulphide styles.

The Gidgee Iron Project in the Yilgarn region contains extensive iron formations and potential direct shipping ore hematite deposits.

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Mon, 31 Oct 2011 16:12:00 +1100 http://www.proactiveinvestors.com.au/companies/news/133016/cove-resources-to-acquire-blenheim-resources-gain-access-to-vms-iron-projects-21382.html
<![CDATA[News - Cove Resources in a trading halt pending acquisition announcement ]]> http://www.proactiveinvestors.com.au/companies/news/133015/cove-resources-in-a-trading-halt-pending-acquisition-announcement-21243.html Cove Resources (ASX: CVE) has been granted a trading halt by the ASX pending the release of details surrounding an acquisition, with the company's shares placed in pre-open.

Cove has not yet elaborated any further on the acquisition, but in the company's quarterly released earlier in the week highlighted change was afoot.

The company said that it had been seeking acquisitions during the quarter to complement the existing portfolio.

Earlier in the year Cove announced the acquisition of the highly prospective silver and base metals projects Tally Ho and Mt Scott near Mackay on the Central Queensland coast.

The halt will last until the earlier of the announcement being made to the market, or the open of trade on Monday 31 October.

 

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Thu, 27 Oct 2011 08:37:00 +1100 http://www.proactiveinvestors.com.au/companies/news/133015/cove-resources-in-a-trading-halt-pending-acquisition-announcement-21243.html
<![CDATA[News - Cove Resources identifies gold anomalies over 240 metre strike at Goongarrie ]]> http://www.proactiveinvestors.com.au/companies/news/133014/cove-resources-identifies-gold-anomalies-over-240-metre-strike-at-goongarrie-17182.html Recently listed Cove Resources (ASX: CVE) has identified a new gold target at the Goongarrie project in Western Australia after a soil sampling program.

Results from soil sampling identified an area of around 40 metres by 240 metres appearing to be anomalous for gold, with two areas for nickel.

Cove collected a total of 375 soil samples over the target area located 86 kilometres north-northwest of Kalgoorlie.

One of the prospective nickel areas adjoins the anomalous gold area, and consequently, the company plans to undertake a drilling program on the areas as soon as Cove receives title clearance.

In the interim, Cove will undertake additional infill soil sampling around the area of interest to better define drilling targets.

The company believes no one has undertaken contemporary exploration previously at the prospecting licence within the project.

The new area of interest is around 1.3 kilometres from areas where the company undertook a drilling program in the March quarter.

The project comprises five prospecting licenses and covers the historic Goongarrie gold mining centre situated in the productive gold belt in the Eastern Goldfield of Western Australia.

 

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Thu, 16 Jun 2011 12:35:00 +1000 http://www.proactiveinvestors.com.au/companies/news/133014/cove-resources-identifies-gold-anomalies-over-240-metre-strike-at-goongarrie-17182.html
<![CDATA[News - Cove Resources targets near surface high grade gold in follow up drilling at Goongarrie ]]> http://www.proactiveinvestors.com.au/companies/news/133013/cove-resources-targets-near-surface-high-grade-gold-in-follow-up-drilling-at-goongarrie-15612.html Cove Resources (ASX: CVE) has targeted near surface high grade gold after a drilling program at the company’s Goongarrie Project in the Eastern Goldfields of Western Australia.

During the last quarter Cove intersected gold at Googarrie from an 18 hole reverse circulation program.

The drill results confirmed resource potential around the former Caledonian pit.

Highlights included:

- 3 metres at 6.93 grams per tonne (g/t) gold from 52 metres, including 2 metres at 5.51g/t gold from 88 metres;
- 22 metres at 2.04g/t gold from 52 metres, including 2 metres at 7.86g/t gold from 55 metres;
- 15 metres at 1.34g/t gold from 34 metres, including 1 metre at 8.01g/t gold from 34 metres; and
- 57 metres at 1.23g/t gold from 31 metres, including  metres at 7.24g/t gold from 44 metres.

The five licensed tenements at Goongarrie form a contiguous block 6.5 kilometres long and up to two kilometres wide covering 949 hectares. The project has a past production from open pit operations of 35,000 gold ounces.

Goongarrie is located 90 kilometres north-northwest of Kalgoorlie and straddles the major greenstone belt stretching between Kalgoorlie and Menzies.

At the company’s Carosue Project a number of previous drill holes have been identified within the tenements based on a review of historical data. The area also has a history of gold prospectivity.

The company also has projects at Sunrise Dam and Spargoville.

 

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Tue, 19 Apr 2011 11:53:00 +1000 http://www.proactiveinvestors.com.au/companies/news/133013/cove-resources-targets-near-surface-high-grade-gold-in-follow-up-drilling-at-goongarrie-15612.html
<![CDATA[News - Cove Resources shares soar 30% after wide gold hits at Goongarrie ]]> http://www.proactiveinvestors.com.au/companies/news/133012/cove-resources-shares-soar-30-after-wide-gold-hits-at-goongarrie-13899.html Cove Resources (ASX: CVE) has received a big thumbs up today from investors as the company's share price has soared 30% in early morning trade after some significantly wide gold intersections at Goongarrie.

The highlights included:

- 57 metres at 1.23 grams per tonne (g/t) gold from 31 metres, including 3 metres at 7.24g/t gold;
- 15 metres at 1.34g/t gold from 34 metres, including 1 metre at 8.01g/t gold; and
- 22 metres at 2.04g/t gold from 52 metres, including 2 metres at 7.86g/t gold.

The significance of these results is the potential to increase the resource around the historical Caledonian pit, highlighting gold in the area.

The drill program included 18 reverse circulation holes for 1405 metres.

The program tested near surface potential near the previously mined Caledonian, New Boddington and Franks Dam pits, as well as more regional targets based on previous rotary air blast drilling.

 

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Mon, 14 Feb 2011 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/133012/cove-resources-shares-soar-30-after-wide-gold-hits-at-goongarrie-13899.html
<![CDATA[News - Cove Resources kicks off drilling at Goongarrie Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/133011/cove-resources-kicks-off-drilling-at-goongarrie-gold-project-13480.html Cove Resources (ASX: CVE and CVEO) has commenced a drilling program on the Goongarrie Project in the Eastern Goldfields of Western Australia.

The company successfully listed on the ASX on 27 January 2011 and is targeting further sheer hosted high grade gold mineralization based on results of recent field mapping and previous drilling.

There is potential for gold anomolies to be identified at depth and along strike by drilling shallow holes using a reverse circulation (RC) rig.

The company estimates drilling will take two weeks, including laboratory time. The program is intended to define areas for further deeper drilling.

The Goongarrie Project comprises five Prospecting Licences and is situated about 90km north northwest of Kalgoorlie, where it straddles a major greenstone belt.

The five tenements cover 949 hectares and form a contiguous block 6.5 kilometers long and up to 2km wide.

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Fri, 28 Jan 2011 11:39:00 +1100 http://www.proactiveinvestors.com.au/companies/news/133011/cove-resources-kicks-off-drilling-at-goongarrie-gold-project-13480.html
<![CDATA[News - Cove Resources targeting gold in Western Australia, admitted to the ASX ]]> http://www.proactiveinvestors.com.au/companies/news/133010/cove-resources-targeting-gold-in-western-australia-admitted-to-the-asx-13330.html Cove Resources (ASX: CVE) has been admitted to the ASX following a successful IPO which offered 22.5 million shares at $0.20 to raise A$4.5 million.

The newly minted company will commence trading at 12.00pm EDST on Thursday 27 January 2011 with around 32.8 million shares on issue, along with 13.5 million options, exercisable at $0.25.

Cove is focused on gold in Western Australia, and has entered into agreements to explore and earn up to a 100% equity interest into four projects.

The funds raised from the IPO will be used for exploration programs.

The four projects comprise:

The Goongarrie project

Tenement package includes five prospecting licences which cover the historic Goongarrie gold mining centre situated in the Eastern Goldfields of Western Australia.

The Carosue project

Tenement package includes two exploration licences, three exploration licence applications and two prospecting licences covering an area over 250 square kilometres.

The Sunrise Dam project

Tenement package includes four exploration licences and one exploration licence application located around 30 kilometres south-east of the Laverton Township.

The Spargoville project

The tenement package includes three exploration licence applications located within the southern portion of the Norseman-Wiluna Greenstone Belt in the eastern Goldfields province of Western Australia.

 

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Mon, 24 Jan 2011 11:53:00 +1100 http://www.proactiveinvestors.com.au/companies/news/133010/cove-resources-targeting-gold-in-western-australia-admitted-to-the-asx-13330.html