Proactiveinvestors Australia 1-Page Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia 1-Page Ltd RSS feed en Wed, 19 Jun 2019 06:58:22 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - 1-Page Limited signs two major enterprises as clients ]]> https://www.proactiveinvestors.com.au/companies/news/131248/1-page-limited-signs-two-major-enterprises-as-clients-63444.html 1-Page Limited (ASX:1PG) has signed two large enterprises to leverage its Sourcing Platform to find, attract and engage talented candidates.

These include a Fortune 50 telecommunications company with a market capitalisation of more than US$170 billion and a Fortune 100 technology company capitalised at more than US$130 billion.

This demonstrates both the demand for its platform as well as the company’s ability to scale its efforts to partner with the largest companies in the world to assist them in sourcing the best talent.

Signing the two large enterprises further strengthens 1-Pages’ offering in the technology industry as well as opening up another additional U.S. vertical within telecommunications.

Adding interest, the company now has on its active client roster two of the top 10 technology companies (Apple, HP, IBM, Microsoft, Amazon, Google, Cisco, Dell and Ingram Micro), which employ more than 1.4 million people.

The 1-Page Sourcing Platform leverages 1.15 billion professional profiles with enriched data from 70 different online sources.

The platform allows companies to source candidates from within their own employee’s networks, displaying a selection of the most connected and qualified candidates to the company’s workforce.

1-Page allows the hiring team to contact, attract, and engage the most valuable passive candidates at scale.

 

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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Tue, 14 Jul 2015 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131248/1-page-limited-signs-two-major-enterprises-as-clients-63444.html
<![CDATA[News - 1-Page Limited raises $9.6M from two strategic parties ]]> https://www.proactiveinvestors.com.au/companies/news/131247/1-page-limited-raises-96m-from-two-strategic-parties-60833.html 1-Page Limited (ASX:1PG) has raised $9.63 million through an issue of 9 million shares to two strategic long-term parties.

The issue price of $1.07 represents a 4% premium to the 30-day volume weighted average price.

The two parties are long-term shareholders that approached 1-Page with a proposal to acquire a strategic interest given their deep understanding of the applicability of cloud-based software platforms to the recruitment sector globally.

The 1-Page Sourcing and Referral Engine using the BranchOut database of more than 820 million professionals is expected to be in operation from the beginning of March 2015.

This will assist in significantly scaling customer revenues and further capitalization will be driven from the pipeline of potential customers.



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, 20 Feb 2015 16:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131247/1-page-limited-raises-96m-from-two-strategic-parties-60833.html
<![CDATA[News - 1-Page Limited to reveal strategic investment ]]> https://www.proactiveinvestors.com.au/companies/news/131246/1-page-limited-to-reveal-strategic-investment-60770.html 1-Page Limited (ASX:1PG) has been granted a trading halt by the ASX pending details regarding a strategic investment in the company.

The company provides a cloud-based human resources Software-as-a-Service (SaaS) platform.

The halt will remain in place until the opening of trade on Friday 20th February 2015, or earlier if 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.

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Wed, 18 Feb 2015 13:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131246/1-page-limited-to-reveal-strategic-investment-60770.html
<![CDATA[News - 1-Page Company Inc. set to begin life on ASX ]]> https://www.proactiveinvestors.com.au/companies/news/131245/1-page-company-inc-set-to-begin-life-on-asx-58139.html 1-Page Company Inc. (ASX:1PG) will commence trading at 11am on Wednesday following its acquisition by the former Intermet Resources (ASX:ITT).

The 1-Page platform could revolutionise the way corporations identify and recruit talent, providing improvements in time, cost and retention rates particularly for companies with large staffing requirements.

1-Page Company Inc was founded in Silicon Valley in 2011, and the U.S. product launch was in January 2013 with global clients currently including First Republic Bank, BevMo!, Daikin McQauy and others.

The U.S recruitment market was worth US$190 billion in 2013, with 54 million new hires - close to half the total workforce of 112 million.

The company's Enterprise Challenge-based Assessment and Engagement Platform enables companies to individually rank and prioritise candidates for employment positions based on their ability to solve real-time business challenges.

The platform subsequently applies new predictive data to rank the most suitable candidates for interviewing.

Based on a case study conducted by 1-Page in 2013, it outlined that its solution reduced the time to hire to 4 weeks from 13 weeks, while also improving retention by up to 70%, which helped decreases the cost-per-hire by up to 75%.

Co-founder of 1-Page Joanna Weidenmiller was nominated Female Entrepreneur of the year in 2012. 

Weidenmiller was aksi co-founder of 360Fashion Network, which scaled to 10 million users.

US Venture Capital firms have invested over US$3 million to date to develop and complete the technology and software.



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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Mon, 13 Oct 2014 16:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131245/1-page-company-inc-set-to-begin-life-on-asx-58139.html
<![CDATA[News - InterMet Resources to finalise acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/131244/intermet-resources-to-finalise-acquisition-55105.html InterMet Resources’ (ASX: ITT) shares have been placed in pre-open after it was granted an ASX trading halt in relation to an acquisition.

The halt will last until the earlier of the announcement being made or the commencement of trade on Friday, 23 May 2014.

It had noted that it is in the process of finalising the acquisition and expects to make an announcement on 22 May.

InterMet had in April signed an exclusive option agreement to acquire U.S. based online recruitment platform 1-Page.

The 1-Page platform revolutionises the way corporations identify and recruit top talent, providing significant improvements in time, cost and retention rates particularly for companies with large staffing requirements.

 

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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Wed, 21 May 2014 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131244/intermet-resources-to-finalise-acquisition-55105.html
<![CDATA[News - InterMet Resources to acquire U.S. based online recruitment platform 1-Page ]]> https://www.proactiveinvestors.com.au/companies/news/131243/intermet-resources-to-acquire-us-based-online-recruitment-platform-1-page-54216.html InterMet Resources (ASX: ITT) is set to dial in to a cloud based online recruitment platform, and has signed an exclusive option agreement to acquire 1-Page Company Inc.

The deal is value accretive for InterMet, and its shares are expected to open firmer.

The 1-Page platform revolutionises the way corporations identify and recruit top talent, providing significant improvements in time, cost and retention rates particularly for companies with large staffing requirements.

Most importantly for any new cloud acquisition, is that it has an existing client base including global companies. 1-Page Company Inc was founded in Silicon Valley in 2011, and the U.S. product launch was in January 2013 with global clients currently including First Republic Bank, BevMo!, Daikin McQauy and others.

The opportunity for ITT with the acquisition is that it is a highly scalable platform with current infrastructure capable of supporting rapid revenue expansion.

Highlighting the potential blue sky - the U.S recruitment market was worth US$190 billion in 2013, with 54 million new hires - which is close to half the total workforce of 112 million.

This shows the need for a much more streamlined and cost efficient hiring process for businesses, and if the retention rate through this new process rises, then cost savings could be dramatic, while boosting held intellectual property within the company.


1-Page attracts Silicon Valley Venture Capital firms

1-Page has already attracted seed capital from a number of leading Silicon Valley Venture Capital firms.

It is anticipated that completion of the acquisition will result in a change of company name to 1-Page Limited and the appointment of two new 1-Page nominated company directors.

This will include co-founder and current chief executive officer, Joanna Riley Weidenmiller who will execute a minimum two year executive service agreement with the company.


Funding and re-compliance

InterMet are currently undertaking to complete a S708 private placement of 50,000,000 shares at $0.008 per share to raise a total of $400,000 before costs, to provide working capital through the transaction.

InterMet will also need to obtain shareholder approval for the deal, completion of a security consolidation, on a post-consolidation basis of AUD$0.20 per share, and re-compliance with Chapters 1 and 2 of the ASX Listing Rules.

Following approval, InterMet will also undertake a postconsolidation capital raising of at least A$3,500,000, at A$0.20 per share, to be completed under a prospectus.


Acquisition terms

- Payment of a $50,000 option fee by InterMet to acquire an exclusive thirty day option to buy 100% of the issued capital in 1-Page.

- In exchange for 100% of the issued capital in 1-Page, InterMet agrees to issue 50,000,000 InterMet Shares (on a post consolidation basis) at $0.20 to the majority shareholders of 1-Page, which will be subject to ASX escrow provisions.

- In addition InterMet agrees that Post IPO, a Performance Rights Plan will be implemented, subject to shareholder approval, to issue Board members and key incoming management a total of 15,000,000 performance rights (on a post consolidation basis) based on the achievement of milestones.


1-Page as a solution

1-Page is the sole owner and provider of a revolutionary cloud-based human resources Software as a Solution platform.

The Enterprise Challenge-based Assessment and Engagement Platform (ECAEP) is a disruptive, patented human resources tool which enables companies to individually rank and prioritise candidates for employment positions based on their ability to solve real-time business challenges and achieve strategic objectives.

ECAEP identifies and challenges candidates to deliver a one page job proposal based on a role specific issue or challenge.

The platform subsequently applies new predictive data to rank the most suitable candidates for interviewing.

By streamlining the recruitment process and identifying candidates who display the greatest desire and capacity for a role, the platform greatly reduces talent acquisition costs and significantly increases employment retention rates for enterprises, particularly those with large staffing requirements.

The ECAEP was initially developed with the assistance of human resource executives from several Fortune 500 companies and has been funded by several leading Silicon Valley Venture Capital firms.


1-Page case study

Based on a case study conducted by 1-Page in 2013, it outlined that its solution reduced the time to hire to 4 weeks from 13 weeks, while also improving retention by up to 70%, which helped decreases the cost-per-hire by up to 75%.


Analysis

Co-founder of 1-Page Joanna Weidenmiller has form in growing technology companies, nominated Female Entrepreneur of the year in 2012.  Weidenmiller was co-founder of 360Fashion Network - which notably scaled to 10 million users.

The potential of this business model has not been lost on US Venture Capital firms, which have invested over US$3 million to date to develop and complete technology and software.

This deal is a "game-changer" for InterMet, and the scalability of the business model across different markets and countries provides plenty of blue sky potential.

 

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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Wed, 09 Apr 2014 11:39:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131243/intermet-resources-to-acquire-us-based-online-recruitment-platform-1-page-54216.html
<![CDATA[News - InterMet Resources granted additional time to finalise acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/131242/intermet-resources-granted-additional-time-to-finalise-acquisition-54154.html InterMet Resources (ASX: ITT) has been given additional time by the ASX following its trading halt, to finalise an acquisition.

InterMet has now been granted a voluntary suspension to its shares. The suspension will remain until 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.

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Mon, 07 Apr 2014 11:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131242/intermet-resources-granted-additional-time-to-finalise-acquisition-54154.html
<![CDATA[News - InterMet Resources to divulge acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/131241/intermet-resources-to-divulge-acquisition-54098.html InterMet Resources' (ASX: ITT) share trading has been halted this morning pending an acquisition announcement by the company.

ITT's shares are currently in pre-open.

The halt will last until the opening of trade on Monday 7th April 2014, or earlier if 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.

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Thu, 03 Apr 2014 15:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131241/intermet-resources-to-divulge-acquisition-54098.html
<![CDATA[News - InterMet Resources to start aircore drilling at Calypso nickel sulphide project ]]> https://www.proactiveinvestors.com.au/companies/news/131240/intermet-resources-to-start-aircore-drilling-at-calypso-nickel-sulphide-project-50880.html InterMet Resources (ASX: ITT) will this week start aircore drilling this week at its Calypso nickel sulphide project in Western Australia.
   
This initial 10 hole program will confirm and extend nickel sulphide mineralisation and prospectivity of an ultramafic intrusive identified by BHP Minerals in their regional gold exploration during the mid-1980s.

Nickel sulphides assaying 16 metres at 0.2% nickel from 42 metres, including a high value of 2 metres at 0.43% nickel were obtained in the only hole assayed by BHP Minerals in the Zeus aeromagnetic anomaly.

However, disseminated sulphides and cumulate ultramafic textures were recorded in other holes drilled in both the Zeus and Argos anomalies which were not assayed or followed up.

The drilling program, which may be extended subject to exploration success, will also:

-    Confirm the ultramafic and sulphide textures described in drilling over the Argos anomaly and along the flank; and
-    Test a possible structural feature adjoining the Argos anomaly to the south east and identified by the company’s recent detailed ground magnetic survey.

The Calypso Project is an early stage nickel exploration project located within the southern extent of the highly endowed Agnew-Wiluna Nickel Belt, which plays host to several world class deposits, along with a number of smaller nickel resources. 

These include the 335 million tonne at 0.516% nickel Mount Keith, Perseverance, the 189 million tonne at 0.69% nickel Honeymoon Well, and the 60 million tonne at 0.813% nickel Cosmos Deeps.

 

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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Wed, 04 Dec 2013 13:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131240/intermet-resources-to-start-aircore-drilling-at-calypso-nickel-sulphide-project-50880.html
<![CDATA[News - InterMet Resources adds another substantial shareholder ]]> https://www.proactiveinvestors.com.au/companies/news/131239/intermet-resources-adds-another-substantial-shareholder-50576.html InterMet Resources (ASX: ITT) has received a notice of substantial shareholding from Vivienne Jagger, who owns a 12.87% interest in the company.

This follows the addition yesterday of Glamour Division (The Hammer A/C) as a substantial shareholder with 18.650,980 shares, or a 7.75% stake.

Jagger had on 29 October 2013 received 15,544,435 shares in InterMet as consideration for Jagger’s shares in private company Lancaster Resources, which InterMet had acquired.

This increased Jagger’s total shareholding to 30,958,185 shares.

InterMet is poised to begin exploration on the Nickel First project that formed part of the Lancaster acquisition.

This is adjacent to Rox Resources’ (ASX: RXL) Mt Fisher East nickel project and the gold bearing Mt Fisher greenstone belt.

 

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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Wed, 27 Nov 2013 09:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131239/intermet-resources-adds-another-substantial-shareholder-50576.html
<![CDATA[News - InterMet Resources adds new substantial shareholder ]]> https://www.proactiveinvestors.com.au/companies/news/131238/intermet-resources-adds-new-substantial-shareholder-50530.html InterMet Resources (ASX: ITT) has received a notice of substantial shareholding from Glamour Division (The Hammer A/C), which holds a 7.75% interest in the company.

Glamour had on 29 October 2013 received 15,028,480 InterMet shares in consideration for its stake in private company Lancaster Resources, which InterMet had acquired.

This increased its total shareholding up to 18.650,980 shares.

InterMet is poised to begin exploration on the Nickel First project that formed part of the Lancaster acquisition.

This is adjacent to Rox Resources’ (ASX: RXL) Mt Fisher East nickel project and the gold bearing Mt Fisher greenstone belt.

 

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, 26 Nov 2013 09:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131238/intermet-resources-adds-new-substantial-shareholder-50530.html
<![CDATA[News - InterMet Resources to start exploration next to Rox Resources nickel projects ]]> https://www.proactiveinvestors.com.au/companies/news/131237/intermet-resources-to-start-exploration-next-to-rox-resources-nickel-projects-50381.html InterMet Resources (ASX: ITT) is poised to begin exploration on a prospective nickel play near Wiluna, Western Australia, following its acquisition of private company Lancaster Resources.

Exploration will begin at the Nickel First project that is adjacent to Rox Resources’ (ASX: RXL) Mt Fisher East nickel project and the gold bearing Mt Fisher greenstone belt.

The company has a six month option to acquire a 100% interest in the four tenements that make up the project from Coal First.

Drilling is also planned for its Calypso nickel sulphide project near Leonora in Western Australia while a review and target generation process is underway at the 8 Mile Creek gold project in Queensland.

Nickel First

During the due diligence phase, work will focus on exploring the contact and near contact zones of the granitoid/greenstone sequence to determine the potential for ultramafics and structures prospective for nickel and gold to exist within the Nickel First project area.

The four tenements cover a total area of 463.99 and are prospective for disseminated and semi massive Kambalda style nickel mineralisation as well as gold.

Calypso

An aircore drilling program will commence at the Calypso nickel project near Leonora in December .

The company will drill an initial 10 holes to confirm nickel sulphide mineralisation and prospectivity of an ultramafic intrusive identified by BHP Minerals in their regional gold exploration during the mid 1980s.

This may be extended subject to exploration success.

Nickel sulphides assaying 16 metres at 0.2% nickel and 61ppm copper from 42 metres, including a high value of 2 metres at 0.43% nickel and 85 ppm copper were obtained in the only hole assayed by BHP Minerals in the Zeus aeromagnetic anomaly (MR382).

However, disseminated sulphides and cumulate ultramafic textures were recorded in other holes drilled in both the Zeus and Argos anomalies which were not assayed or followed up.

8 Mile Creek

8 Mile Creek is immediately adjacent to the Mt Leyshon mine which produced 2.5 million ounces gold and 2.2 million ounces of silver between 1987 and 2002 and 7 kilometres north of the Highway-Reward VHMS mine (2 million tonnes at 6% copper and 1.8g/t gold).

An intensive review has been undertaken of the 8 Mile Creek gold project by X-Plore Consulting with a view to assessing historical exploration results and establishing mineralisation models for follow up exploration and drill targeting.

To date ITT has been encouraged by the potential for gold mineralisation within the tenement and planning has commenced for the next stage of exploration.

Lancaster

InterMet had acquire 100% of the share capital in Lancaster by way of a share sale agreement with existing Lancaster shareholders.

Besides the Nickel First option, the acquisition also nets the company the Mt Jewell nickel project 65 kilometres north of Kalgoorlie; the Wilks Creek project in Victoria that is centred on a historical tungsten mine; and the Royal Tasman project in Tasmania that targets granite related, sediment hosted gold and greisen hosted tin mineralisation.

Lancaster also held cash assets of $450,000, providing a boost to the company’s working capital.

Analysis

With prime exploration acreage adjacent to Rox Resources' Mt Fisher and Fisher East projects added to its portfolio following the acquisition of Lancaster Resources, InterMet Resources is now progressing towards exploration to unlock the potential of its new assets.

With work also be carried out on its Calypso and 8 Mile Creek Projects it is game on for InterMet.

There is substantial news flow ahead for the company with initial exploration on Nickel First, the exercising of the option to acquire it from Coal First as well as drilling at Calypso and the review at 8 Mile all catalysts for share price re-ratings.

 

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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Wed, 20 Nov 2013 11:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131237/intermet-resources-to-start-exploration-next-to-rox-resources-nickel-projects-50381.html
<![CDATA[News - InterMet Resources moves nearer to acquisition of Lancaster Resources ]]> https://www.proactiveinvestors.com.au/companies/news/131236/intermet-resources-moves-nearer-to-acquisition-of-lancaster-resources-47923.html InterMet Resources (ASX: ITT) is close to completing its acquisition of private company Lancaster Resources with the latter’s shareholders accepting the offer of 140 million InterMet shares valued at $700,000.

Lancaster holds four mineral exploration projects including an option over a large landholding around the Rox Resources' (ASX:RXL) Mt Fisher East nickel discovery in Western Australia as well as $450,000 in cash.

InterMet shareholders will soon meet to approve the acquisition.

Lancaster

Lancaster’s four projects are targeting nickel sulphides, tungsten and gold and would appear to fit with existing InterMet projects, 8 Mile Creek and Calypso projects.

They are:

- Mt Jewell (WA) - historical drilling has intersected nickel sulphides 65km north of Kalgoorlie and there is also potential for gold mineralisation.
- Wilks Creek (VIC) – centred on a historical tungsten mine, exploration has defined strong, large tungsten anomaly that has been advanced by Lancaster to a drill ready target.
- Royal Tasman (TAS) – targeting granite related, sediment hosted gold and greisen hosted tin mineralisation. In an area of historical gold and tin mining.
- Nickel First (WA) – Lancaster has an option to acquire a 100% interest in four tenements totalling 463.99 sqkm located and adjoining the Rox Resources (ASX:RXL) Mt Fisher East project near Wiluna

In addition, Lancaster will bring $450,000 in cash into the company, bringing InterMet’s total cash in bank up to $1 million.

Analysis

Besides adding some interesting exploration acreage, the acquisition will also increase the company's cash reserves.

The deal is value accretive and should see the ITT share price move higher on completion.

 

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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Thu, 12 Sep 2013 16:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131236/intermet-resources-moves-nearer-to-acquisition-of-lancaster-resources-47923.html
<![CDATA[News - InterMet Resources in acquisition of prime exploration projects, gains cash ]]> https://www.proactiveinvestors.com.au/companies/news/131235/intermet-resources-in-acquisition-of-prime-exploration-projects-gains-cash-46657.html InterMet Resources (ASX: ITT) will acquire four mineral exploration projects including an option over a large landholding around the Rox Resources' (ASX:RXL) Mt Fisher East nickel discovery from an acquisition of a private company.

A binding agreement has been signed to acquire a private company, Lancaster Resources which also has the added bonus of cash assets of $450,000.

Importantly, InterMet is no longer required to re comply with Chapters 1 and 2 of the ASX Listing Rules should it decide to exercise the Calypso option.

The four Lancaster projects are targeting nickel sulphides, tungsten and gold and would appear to fit with existing InterMet projects, 8 Mile Creek and Calypso projects.

InterMet will acquire 100% of the share capital in Lancaster by way of a share sale agreement with existing Lancaster shareholders, acquisition price is $700,000 payable by the issue of 140,000,000 fully paid InterMet ordinary shares which will be escrowed for 3 months.

Both the acquisition of Lancaster and the placement are subject to InterMet shareholder approval.

Proposed Placement

InterMet has executed a capital raising mandate with Merchant Group Pty Ltd to place 100,000,000 shares at an issue price of $0.005 per share, with a free 1:2 attaching option exercisable at $0.01 on or before 1 July 2016.

The placement will be to sophisticated investors and will raise a total of $500,000 before costs. The placement will be subject to shareholder approval.

Projects to be acquired in the agreement

- Mt Jewell (WA) - historical drilling has intersected nickel sulphides 65km north of Kalgoorlie and there is also potential for gold mineralisation.
- Wilks Creek (VIC) – centred on a historical tungsten mine, exploration has defined strong, large tungsten anomaly that has been advanced by Lancaster to a drill ready target.
- Royal Tasman (TAS) – targeting granite related, sediment hosted gold and greisen hosted tin mineralisation. In an area of historical gold and tin mining.
- Nickel First (WA) – Lancaster has an option to acquire a 100% interest in four tenements totalling 463.99 sqkm located and adjoining the Rox Resources (ASX:RXL) Mt Fisher East project near Wiluna. The projects are prospective for disseminated and semi massive Kambalda style nickel mineralisation as well as gold.

InterMet director Scott Mison said: “On completion of the Lancaster transaction and the placement, InterMet will have approximately $1 million cash in the bank with several high quality projects and drill ready targets.

"The clarification from ASX confirming our status as a resources company means we can rapidly progress exploration and review further acquisition opportunities for the company”.

Analysis

This appears to be a strong deal for InterMet gaining some prime exploration properties as well as the added prize of picking up some handy cash resources.  Not needing to re-comply with Chapters 1 & 2 of the listing rules is a bonus. The deal is value accretive and should see the ITT share price move higher today.  However, there is also likely to be medium term exploration upside given the ground acquired and funds in the bank.

 

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, 13 Aug 2013 08:52:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131235/intermet-resources-in-acquisition-of-prime-exploration-projects-gains-cash-46657.html
<![CDATA[News - InterMet Resources extends option to acquire Calypso Nickel Sulphide Project ]]> https://www.proactiveinvestors.com.au/companies/news/131234/intermet-resources-extends-option-to-acquire-calypso-nickel-sulphide-project-45567.html InterMet Resources (ASX: ITT) has extended by another six months, its binding option agreement to acquire an 80% interest in the Calypso Nickel Sulphide Project in Western Australia with Rossiter Minerals.

The company had in January 2013 secured the six-month option to acquire the interest in the early stage nickel exploration project within the prolific Agnew-Wiluna Nickel Belt.

Under the original option agreement, InterMet had paid Rossiter $50,000 for the option and can acquire the interest by issuing Rossiter 55 million fully paid shares in the company valued at $0.01 each.

It also agreed to spend $100,000 on the Calypso Project, which includes confirmatory drilling.

InterMet had in April confirmed the magnetic signature over two ultramafic intrusives from preliminary analysis of a detailed ground magnetic program completed at its Calypso Nickel Project in Western Australia.

This indicates that a nickel intersection made by BHP Minerals in the mid 1980’s may coincide with a zone of slight magnetic destruction.

Only one of BHP’s gold-focused drill holes was assayed for nickel and copper, reportedly returning 16 metres at 0.2% nickel and 61 parts per million copper from 42 metres, including a high value of 2 metres at 0.43% nickel and 85 parts per million copper.

The Calypso Project is an early stage nickel exploration project located within the southern extent of the highly endowed Agnew-Wiluna Nickel Belt, which plays host to several world class deposits, along with a number of smaller nickel resources. 

These include the 335 million tonne at 0.516% nickel Mount Keith, Perseverance, the 189 million tonne at 0.69% nickel Honeymoon Well, and the 60 million tonne at 0.813% nickel Cosmos Deeps.

 

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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Mon, 15 Jul 2013 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131234/intermet-resources-extends-option-to-acquire-calypso-nickel-sulphide-project-45567.html
<![CDATA[News - InterMet Resources adds Merchant Opportunities Fund as substantial shareholder ]]> https://www.proactiveinvestors.com.au/companies/news/131233/intermet-resources-adds-merchant-opportunities-fund-as-substantial-shareholder-43541.html InterMet Resources (ASX: ITT) has added Merchant Opportunities Fund as a substantial shareholder with a 9.45% stake in the company.

Merchant Opportunities Fund had acquired the 9.5 million shares from 1 February 2013 to 19 March 2013 at prices ranging from $0.02955 to $0.001.

InterMet Resources had in April confirmed the magnetic signature over two ultramafic intrusives from preliminary analysis of a detailed ground magnetic program completed at its Calypso Nickel Project in Western Australia.

This indicates that a nickel intersection made by BHP Minerals in the mid 1980’s may coincide with a zone of slight magnetic destruction.

The Calypso Project is an early stage nickel exploration project located within the southern extent of the highly endowed Agnew-Wiluna Nickel Belt, which plays host to several world class deposits, along with a number of smaller nickel resources. 

These include the 335 million tonne at 0.516% nickel Mount Keith, Perseverance, the 189 million tonne at 0.69% nickel Honeymoon Well, and the 60 million tonne at 0.813% nickel Cosmos Deeps.

 

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, 21 May 2013 18:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131233/intermet-resources-adds-merchant-opportunities-fund-as-substantial-shareholder-43541.html
<![CDATA[News - Intermet Resources primed for drilling at Calypso nickel project with magnetic survey results ]]> https://www.proactiveinvestors.com.au/companies/news/131232/intermet-resources-primed-for-drilling-at-calypso-nickel-project-with-magnetic-survey-results-41898.html Intermet Resources (ASX: ITT) has confirmed the magnetic signature over two ultramafic intrusives from preliminary analysis of a detailed ground magnetic program completed at its Calypso Nickel Project in Western Australia.

While analysis of the data is continuing, it indicates that a nickel intersection made by BHP Minerals in the mid 1980’s may coincide with a zone of slight magnetic destruction.

The ground magnetic program was designed to better define and detail the structure, geology and potential mineralisation for drill targeting in the upcoming aircore drilling program across the Zeus and Argos prospects.

Historic aircore drilling by BHP Minerals had intersected shallow nickel sulphides – including 16 metres at 0.2% nickel from 16 metres – and prospective geology at the Zeus and Argos prospects respectively.

The prospects are also defined by a coincident intense aeromagnetic and broad gold soil geochemistry anomalies.

InterMet recently secured an exclusive six month option from Rossiter Minerals to acquire an 80% interest in the Calypso Project.

It has also received heritage clearance and re-established access to the area, which is situated in a prolific nickel sulphide province in Western Australia.

The Calypso Project is an early stage nickel exploration project located within the southern extent of the highly endowed Agnew-Wiluna Nickel Belt, which plays host to several world class deposits, along with a number of smaller nickel resources. 

These include the 335 million tonne at 0.516% nickel Mount Keith, Perseverance, the 189 million tonne at 0.69% nickel Honeymoon Well, and the 60 million tonne at 0.813% nickel Cosmos Deeps.

The Zeus prospect is one of two discrete, intense aeromagnetic anomalies of about 1 kilometre in length within the Calypso Project.

Zeus and the other aeromagnetic anomaly, Argos, will be the focus of InterMet's due diligence during the term of the option.

InterMet plans to twin the historic drill holes to confirm the presence of nickel mineralisation and review the existing relationship between the anomalies and the previous sampling results to establish the potential of these prospects.


Analysis

Drilling is expected to begin in the current quarter.  With this, it is about to get very interesting for investors as preliminary results confirm the magnetic signature over two ultramafic intrusives modelled to date.

The magnetic program will enable Intermet to define and detail the structure, geology and potential mineralisation for drill targeting in the upcoming aircore drilling program across the Zeus and Argos prospects.

 

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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Thu, 11 Apr 2013 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/131232/intermet-resources-primed-for-drilling-at-calypso-nickel-project-with-magnetic-survey-results-41898.html
<![CDATA[News - InterMet Resources begins exploration at Calypso Nickel Project ]]> https://www.proactiveinvestors.com.au/companies/news/131231/intermet-resources-begins-exploration-at-calypso-nickel-project-41222.html InterMet Resources (ASX: ITT) has begun a ground magnetic survey over the Zeus and Argos geophysical anomalies at the Calypso nickel project, which is situated in a prolific nickel sulphide province in Western Australia.

The survey began last week after InterMet received heritage clearance and re-established access, and is being conducted in preparation for the design of the upcoming drill program.

InterMet recently secured an exclusive six month option from Rossiter Minerals to acquire an 80% interest in the Calypso Project.

The Calypso Project is an early stage nickel exploration project located within the southern extent of the highly endowed Agnew-Wiluna Nickel Belt, which plays host to several world class deposits, along with a number of smaller nickel resources. 

These include the 335 million tonne at 0.516% nickel Mount Keith, Perseverance, the 189 million tonne at 0.69% nickel Honeymoon Well, and the 60 million tonne at 0.813% nickel Cosmos Deeps.

InterMet’s immediate due diligence program will focus on confirming the presence of disseminated sulphides reported in ultramafic rocks by BHP Minerals during their purely gold-focused exploration in the mid-1980s.

Only one of the drill holes was assayed for nickel and copper, reportedly returning 16 metres at 0.2% nickel and 61 parts per million copper from 42 metres, including a high value of 2 metres at 0.43% nickel and 85 parts per million copper.

The sulphides were described as having been intersected in consecutive holes on a single line of shallow aircore drilling over the Zeus prospect.

The Zeus prospect is one of two discrete, intense aeromagnetic anomalies of about 1 kilometre in length within the Calypso Project.

Zeus and the other aeromagnetic anomaly, Argos, will be the focus of InterMet's due diligence during the term of the option.

InterMet plans to twin the historic drill holes to confirm the presence of nickel mineralisation and review the existing relationship between the anomalies and the previous sampling results to establish the potential of these prospects.

The ground magnetic program aims to better define and detail the structure, geology and potential mineralisation for drillhole placement.

Applications for drilling permits are in progress and quotes are being obtained from drilling companies with drilling slated to begin in the June quarter.


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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Mon, 25 Mar 2013 17:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131231/intermet-resources-begins-exploration-at-calypso-nickel-project-41222.html
<![CDATA[News - InterMet Resources transitions into nickel sulphide play; south of Rox Resources’ Mt Fisher project ]]> https://www.proactiveinvestors.com.au/companies/news/131230/intermet-resources-transitions-into-nickel-sulphide-play-south-of-rox-resources-mt-fisher-project-38888.html InterMet Resources Ltd (ASX: ITT) is an Australian based exploration company that is re-structuring its management team and share structure to fund development of the Calypso Nickel Sulphide Project in Western Australia.


RECENT DEVELOPMENTS

InterMet has signed a six month option over highly prospective West Australian Nickel Sulphide Project located at the southern end of the prolific Agnew-Wiluna Nickel Belt which hosts several word class nickel mines.

- Previous gold exploration drilling by BHP Billiton (ASX:BHP) intersected shallow disseminated sulphides in ultramafic rocks, including 2m at 0.43% Ni and 85ppm Cu.
- Disseminated sulphides coincident with two aeromagnetic anomalies that provide immediate exploration targets.
- Due diligence to commence immediately, with intention to conduct confirmatory drill program.
- Balance sheet strengthened with ~$2.4m debt forgiveness and $500,000 capital raising.

The Agnew-Wiluna Nickel Belt is a prolific nickel sulphide province hosting world class deposits including: Mt Keith (BHP Billiton: 335Mt at 0.516% Ni), Perseverance Pit, Honeymoon Well (MMC Norilsk Nickel: 189Mt at 0.69% Ni) and Cosmos Deeps (Xstrata: 60Mt at 0.813% Ni).


BACKGROUND

The Calypso Project is a highly prospective and early stage nickel project that is located at the southern end of the highly prolific Agnew-Wiluna Nickel Belt.

Nickel discoveries within this belt continue to attract great market interest with Rox Resources (ASX: RXL) recently escalating in price from $0.015 to $0.10, on reports of a significant and high grade nickel find at Fisher East.

Early nickel data from the Calypso Project compares very favorably with early data from Fisher East. This should provide solid market interest in the funding and drilling of the large Zeus and Argo anomalies at the Calypso Project.

ASX Ticker Code: ITT.
Share Price: $0.03.
Currently Issued Shares: 58.0M shares / 100.5M shares following placement.
Current Market Cap: $1.45M.
Cash: $0.5M following placement.


ANALYSIS - INTERMET RESTRUCTURE

InterMet Resources listed on the ASX in 2006 with Hillgrove Resources Ltd (ASX: HGO) as its largest shareholder. Hillgrove is a mid-sized copper producer with annualised revenues that exceed $100M, and no longer views an investment in InterMet as a core investment.

Hillgrove has sold the majority of its interest in InterMet, forgiven debt of $2.4M, and fully supports the re-structure of the board, and entry into nickel exploration. Hillgrove will retain 10.8M shares to capture future upside from any nickel discovery at the Calypso Project.  


NEW BOARD AND MANAGEMENT TEAM FOR InterMet Resources

The Hon. Dean Brown AO, Russell Middleton and Ron Belz have all retired from the Board of InterMet Resources.

The new Board now includes:

Andrew Richards will serve as a Director and is a geologist with thirty years of experience in the mining industry, seven years of which involved a senior role in Resource Project Finance within a banking environment.  He has worked in Australia, Asia and South America, providing consultancy services, mineral asset valuations, Independent Expert Reports and managed several listed and unlisted companies. Prior experience includes the role as Chief Geologist at the New Celebration and Telfer Gold Mines in Western Australia.

Barnaby Egerton-Warburton will serve as a Director and has over twenty years of investment banking and international trading experience. He has held positions with investment banks in Perth, Sydney, New York and Hong Kong including JPMorgan, BNP Equities (New York) and Prudential Securities (New York).

Director & Company Secretary: Scott Mison will serve as a Director and Company Secretary. He holds a Bachelor of Business degree, is a Member of the Institute of Chartered Accountants in Australia and Chartered Secretaries Australia, and has over fourteen years of experience in finance and corporate compliance in the mining and oil and gas sector. He is currently a director of ASX and AIM listed Jupiter Energy Limited.


SHAREHOLDING AND FUNDING RESTRUCTURE

Hillgrove Resources Ltd was a majority shareholder that owned 45.7M shares or 84.5% of the issued capital. Hillgrove has agreed with the terms of the restructure, and on 18/01/23 sold 32.0M shares at $0.01, retaining 10.8M shares for an 18.7% interest.
 
The most recent September quarterly reported outgoings of $78,000, cash of $12,000, and outstanding debt of $2.4M to Hillgrove Resources. The Company operated at a minimum level pending the finalization of the restructuring agreement.

Hillgrove have agreed to forgive an outstanding debt of $2.4M that will help strengthen the InterMet Resources balance sheet.

Cygnet Capital has been retained to complete a two tranche funding that will issue 50.0M shares at $0.01, to raise a total of $500,000 and include one free option for every two new shares. The first tranche has been completed, and raised $75,000 from an issue of 7.5M shares at $0.01. Shareholder approval is required for the second tranche of the share placement and free attaching options.

The number of issued securities following the second tranche of the placement will be 100.5M shares and 34.4M options, and cash in the treasury will be approximately $500,000.


USE OF FUNDS

The Company has prepared a budget for the $500,000 funding that includes:

- Initial option payment for Calypso of $50,000.
- Aircore drilling $145,000.
- RC drilling $50,000.
- Down-hole EM survey $10,000.
- Working capital $50,000.
- Review of additional projects $70,000.
- Review of existing InterMet tenements $75,000, and offer expenses of $50,000.


CALYPSO NICKEL PROJECT - OPTION FOR 80% INTEREST

InterMet has executed a binding option agreement with Rossiter Minerals Ltd for a non-refundable consideration of $50,000 that was executed on the 21st of January 2013.

This option provides InterMet with an exclusive term of six months to evaluate and purchase an 80% interest in the Calypso Nickel Project.

Final settlement terms include the issuance of post consolidation shares that equate to 55.0M pre-consolidation shares to the vendor; and completion of a $100,000 drilling program at the Calypso Project.

The Calypso Project is made up of one exploration license EL37/1120 that covers approximately 40km². The project is located in Western Australia, and is approximately 200km north of Kalgoorlie and 27km southeast of Leonora.

Calypso Project is located 230 kilometres south of Rox’s Mt Fisher project. Calypso is easily accessible by road from Kalgoorlie and Leonora and which runs through historic gold rush country found at Kookynie and Malcolm, proximate to mining infrastructure and services.

The Calypso exploration license straddles the Keith Kilkenny Fault Line at the southern end of a trend line that contains the Agnew-Wiluna Nickel Belt, which hosts world class nickel sulphide deposits, along with a number of smaller nickel resources.

These include Mount Keith with 335Mt at 0.516% Nickel (Ni), Perseverance, Honeymoon Well with 189Mt at 0.69% Ni, and Cosmos Deeps with 60Mt at 0.813% Ni.



 
HISTORICAL EXPLORATION

The new management team at InterMet has reviewed historical gold exploration efforts that were undertaken by BHP Minerals Ltd during the 1980’s. BHP reported the presence of disseminated nickel sulphides encountered in ultramafic rocks from shallow drilling.

However, only negligible follow up was undertaken due to the over-riding focus on gold targets.

BHP identified two intense and discrete aeromagnetic anomalies named Zeus and Argo that are both approximately 1 km in length, and located within the central part of the Calypso Project tenement area.

A line of three historic and shallow aircore drill holes were completed by BHP across the Zeus anomaly and encountered significant nickel mineralisation in two of these holes;MR381 and MR382.

These holes were situated 50m apart, but only MR382 was assayed returning 16m at 0.2% Ni and 61ppm Cu from a depth of 42m, and included a much higher 2m at 0.43% Ni and 85ppm Cu.

Historic analytical work confirmed the presence of disseminated nickel sulphides within serpentinised peridotite. End of drill hole petrological studies identified that the sulphides were hosted by a serpentinised olivine cumulate and were primarily magmatic or volcanic in origin.

The sulphide species that were identified by BHP included pyrrhotite and chalcopyrite, as well as possible pentlandite or nickel sulphide.

A line of historic aircore drilling across the Argo anomaly encountered talc-carbonate ultramafic rocks which were never assayed for nickel or copper despite possible disseminated nickel sulphide textures being recorded, and this represents a second major target zone at Calypso.

InterMet will commence their due diligence effort at the Calypso Project with the drilling of two holes that “twin” the historic MR381 and 382 drill holes to evaluate the presence of sulphide nickel mineralisation and the surrounding geological setting.

A technical review will follow, and will attempt to pinpoint potential zones that may carry enriched and concentrated volumes of nickel sulphides within the lava flows identified at the Calypso Project. 

The Calypso Project looks to have highly prospective nickel sulphide potential, with past reconnaissance-style single-line aircore traverses identifying both prospective ultramafic lithologies and primary sulphides.

Follow up drilling at the Zeus and Argo magnetic anomalies will identify and test footwall contact positions and map geochemical trends.

The geophysical expression and geological setting of Zeus and Argos are similar to the Kingfisher nickel deposit which is outside of the Calypso Project area and located 18km to the west.

The deposit is characterised by a similar magnetic anomaly to Zeus and Argos and hosts historic nickel-copper sulphide mineralisation in ultramafic rocks.

Massive and disseminated sulphide mineralisation at Kingfisher was identified within serpentinite at the base of a layered intrusion, and an historic drill intercept of 0.91m grading 2.05% Ni and 1.46% Cu confirms the potential for widespread nickel mineralisation throughout and within the project area.


OPTION EXERCISE – RECOMPLIANCE REQUIREMENT

If InterMet exercises the option to acquire 80% of the Calypso Project, this will be deemed as a change of focus for the company and as such InterMet will be required to comply with Chapters 1 and 2 of the ASX Listing Rules, including raising capital through the issue of a prospectus, as if InterMet were applying for admission to the official list of ASX (as required by ASX Listing Rule 11.1.3).

The exercise of the option will require shareholder approval, and it is likely the stock will be suspended from trading the day prior to the shareholders meeting to approve the acquisition. In order to comply with Chapters 1 and 2 of the ASX Listing Rules, InterMet’s securities will require a reconstruction of the existing share capital and new capital will be raised at 20c.

If and when InterMet chooses to exercise the option, the market will be fully informed regarding proposed timetable and all conditions required to settle the acquisition.


ANALYSIS

Historic data from the Calypso Project is extremely encouraging as it confirms the presence of prospective ultramafic host rocks, nickel sulphides in shallow drilling and nickel sulphides associated with and within the signature area of an intense aeromagnetic anomaly.

Already InterMet’s Calypso Project has ticked a number of boxes:

- CONFIRMED: Presence of prospective ultramafic host rock (olivine cumulate).
- CONFIRMED: Disseminated nickel sulphide present in RAB drilling.
- CONFIRMED: Disseminated nickel sulphide coincidental with aeromag anomalies.
- CONFIRMED: Location within a major, nickeliferous regional structure; the Keith Kilkenny Lineament.

 
NEXT STEPS:

- Aircore geochemical drilling program
- RC Drilling Program
- Down-hole EM surveying


PEER COMPARISON

Both Rox Resources Limited (ASX:RXL) and Sirius Resources Limited (ASX:SIR) have recently experienced rapid valuation growth following the identification of semi-massive and massive sulphides at their Western Australian Nickel Projects.

In summary:



Should InterMet identify semi-massive and massive sulphides at the Calypso Project, Rox and Sirius provide the most valid peer comparisons.

Rox underwent a recent 500% increase in market capitalization in recent months after it intersected high grade and persistent nickel values at Fisher East.

The Zeus and Argo magnetic targets at the Calypso Project have a combined strike length of approximately 2,000m and compare favorably with the magnetic anomaly at Fisher East that is known as Camelwood, which carries high grade nickel sulphide values and has a defined strike length of at least 300m. 

Early stage RAB scout drilling at Camelwood discovered nickel in one hole that reported 12m at 12%Ni at shallow depth, and mirrors a similar historic “nickel hit” completed by BHP at Zeus that reported 16m at 0.2% Ni; reinforcing the high nickel prospectivity at the Calypso Project.

Rox Resources – Market Capitalisation $31M (29 January 2013)

During 2011, Rox completed a Versatile Time Domain Electro-Magnetic (VTEM) survey which identified an EM conductor at its Mt Fisher Nickel Project approximately 450km north of Kalgoorlie.

In October 2012, Rox completed RAB drilling over the EM conductor and detected anomalous nickel containing gossanous chips of weathered sulphide material in the host ultramafic.

In December 2012, Rox announced that reverse circulation drilling had discovered disseminated and semi-massive nickel sulphide mineralisation at the Mt Fisher Nickel Project. Preliminary scans indicate an approximate nickel grade of 1%-2% and up to 5% in hole MFEC005.

Sirius Resources – Market Capitalisation $471M (29 January 2013)

In April 2012, SIR announced that processing of the recently completed electromagnetic (EM) survey at the company’s Fraser Range Nickel Project confirmed the presence of several EM conductors.

In July 2012, SIR announced that it had discovered Ni and Cu sulphide mineralisation in the first reverse circulation drill holes at the first EM conductor to be tested at the Fraser Range Nickel Project.

Intersections include 4m at 3.8% Ni and 1.42% Cu. The RC Drilling results followed reconnaissance drilling in May which indicated zones of Ni-Cu enrichment in bedrock and confirmed an extensive zone of near surface Ni-Cu-Co enrichment. Key intersections included 8m at 1.06% Ni and 0.12 % Cu.


SUMMARY & CONCLUSION

Rox’s Mt Fisher and InterMet’s Calypso Project are 230 kilometres apart and located in slightly different greenstone belts. However, the rocks are of the same type, same age and in the same nickel rich region. There are nickel sulphides present at the Calypso Project.  Is there the presence of massive sulphides?  Only time and further exploration will tell. 

Against, that InterMet carries a pre-placement valuation of just $1.45M, whereas Rox Resources now carries a market valuation of $33.1M. 

These are very early days for the project.  It carries high risk/high return parameters.  Should InterMet identify semi-massive and massive sulphides at the Calypso Project, then InterMet could have a share price in the range of $0.06 - $0.16.

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Thu, 31 Jan 2013 08:59:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131230/intermet-resources-transitions-into-nickel-sulphide-play-south-of-rox-resources-mt-fisher-project-38888.html
<![CDATA[News - InterMet Resources to reveal acquisition, company update ]]> https://www.proactiveinvestors.com.au/companies/news/131229/intermet-resources-to-reveal-acquisition-company-update-38357.html InterMet Resources (ASX: ITT) has placed itself in an ASX trading halt this morning as it prepares to update the market on an asset acquisition and its activities.

Earlier in the month InterMet announced that the company’s application for Exploration Permit for Mineral (EPM) 17097 - commonly known as Eight Mile Creek - has been accepted by Queensland Department of Natural Resources and Mines (Department).

InterMet said that it expects the actual grant of EPM 17097 to occur in the next few weeks.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 21st January.

 

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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Thu, 17 Jan 2013 11:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131229/intermet-resources-to-reveal-acquisition-company-update-38357.html
<![CDATA[News - InterMet Resources Queensland exploration permit application appears imminent ]]> https://www.proactiveinvestors.com.au/companies/news/131228/intermet-resources-queensland-exploration-permit-application-appears-imminent-38021.html InterMet Resources (ASX:ITT) has taken another step towards the grant of a gold and base metal exploration permit by the Queensland Department of Natural Resources with its application being accepted by the state government.

The actual grant of EPM 17097 dubbed Eight Mile Creek is likely to happen in the next few weeks.

The tenement is a highly prized asset given its proximity to the Mt Leyshon Gold Mine, now being revived by Leyshon Resources (ASX:LRL) and the company will prepare an exploration plan in line with the grant of the permit.

The target mineralisation is that of gold and base metals play, and is in the centre of a significant mineral field. south of Charters Towers. It also lies adjacent to the Mt Leyshon mining leases, north of the Highway-Reward VMS deposits and spatially associated with numerous other gold and base metal mineral 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.

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Thu, 10 Jan 2013 16:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/131228/intermet-resources-queensland-exploration-permit-application-appears-imminent-38021.html