Proactiveinvestors Australia Intiger Group Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Intiger Group Ltd RSS feed en Wed, 19 Jun 2019 07:45:55 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Intiger Group commences production of SOAs for Commonwealth Bank ]]> https://www.proactiveinvestors.com.au/companies/news/196390/intiger-group-commences-production-of-soas-for-commonwealth-bank-196390.html Intiger Group Ltd (ASX:IAM) operates an Australian software development house dedicated to supporting financial planners to meet the needs of their clients.

It does this by reducing the back office and operational costs within the Australian financial planning industry.

Intiger launched proprietary software platform BOOM2, which automates core components of the financial planning process such as the production of automated statements of advice (SOAs).

BOOM2 also tracks key performance indicators of a financial planning practice and delivers oversight and control to both licensees and financial planning practices nationally.

SOA production for CBA commenced

As of early March, Intiger has commenced production of SOAs under the Commonwealth Bank of Australia (ASX:CBA) pilot programs.

This is a result of over 18 months of discussions and due diligence required to commence the program.

Program management teams are working closely to expand production volumes in line with our capacity and quality controls.

Both firms recognise the scale and importance of the opportunity and are expanding production in a structured and disciplined manner.

March quarter sets foundations for future growth

Cash receipts from customers totalled $127,314 during the March quarter and Intiger expects production under the CBA pilots will be reflected in future quarters.

190 SOAs and 1,919 back office processes were ordered during the March quarter.

Intiger's operating centres are located in the Philippines.

]]>
Fri, 04 May 2018 10:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196390/intiger-group-commences-production-of-soas-for-commonwealth-bank-196390.html
<![CDATA[News - Intiger Group to reveal agreement ]]> https://www.proactiveinvestors.com.au/companies/news/177117/intiger-group-to-reveal-agreement-177117.html Intiger Group (ASX:IAM) has been granted a trading halt by the ASX, pending the execution of a material commercial agreement with a prominent financial services company.

The halt will remain in place until the opening of trade on Thursday 4th May 2017, or earlier if an announcement is made to the market.

]]>
Tue, 02 May 2017 10:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/177117/intiger-group-to-reveal-agreement-177117.html
<![CDATA[News - Star Striker Ltd prepares for transition to financial services ]]> https://www.proactiveinvestors.com.au/companies/news/145637/star-striker-ltd-prepares-for-transition-to-financial-services-69155.html Star Striker Ltd's (ASX:SRT) shareholders will today vote on the change of nature and scale of the company.

The company is currently completing a reverse takeover of Intiger, which is the first combined Software development house and offshore processing platform dedicated to the Australian Financial Services industry.

Intiger’s initial focus has been within the Financial Planning sector.

The halt will remain in place until the opening of trade on Wednesday 15th June 2016, 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 emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 10 Jun 2016 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145637/star-striker-ltd-prepares-for-transition-to-financial-services-69155.html
<![CDATA[News - Star Striker Ltd to reveal new board member ]]> https://www.proactiveinvestors.com.au/companies/news/145635/star-striker-ltd-to-reveal-new-board-member-67959.html Star Striker Ltd (ASX:SRT) has been granted a trading halt this morning, pending details of a new board member.

The company recently completed due diligence on the acquisition of Intiger Asset Management Pty Ltd.

The halt will remain in place until the opening of trade on Tuesday 12th April 2016, 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 emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 08 Apr 2016 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145635/star-striker-ltd-to-reveal-new-board-member-67959.html
<![CDATA[News - Resource Star raises funds to advance project generation ]]> https://www.proactiveinvestors.com.au/companies/news/145633/resource-star-raises-funds-to-advance-project-generation-63644.html Resource Star (ASX:RSL) is raising up to $298,667 through a placement of shares priced at $0.007 to advance its project generation activities and for working capital.

The placement of up to 42,666,667 includes the issue of two free attaching options for every three shares subscribed.

The options are exercisable at $0.008 and expire on 31st December 2017.

 

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.

]]>
Fri, 24 Jul 2015 16:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145633/resource-star-raises-funds-to-advance-project-generation-63644.html
<![CDATA[News - Resource Star to reveal diversification strategy ]]> https://www.proactiveinvestors.com.au/companies/news/145631/resource-star-to-reveal-diversification-strategy-61876.html Resource Star (ASX:RSL) is preparing to outline a proposed significant investment that is the cornerstone of the company’s diversification strategy.

The ASX has granted the company a trading halt to prepare, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Thursday 23rd April 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 emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 21 Apr 2015 11:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145631/resource-star-to-reveal-diversification-strategy-61876.html
<![CDATA[News - Resource Star's target Cloud Lands inks deals with Fujitsu ]]> https://www.proactiveinvestors.com.au/companies/news/145630/resource-stars-target-cloud-lands-inks-deals-with-fujitsu-58225.html Resource Star (ASX:RSL) has revealed that its acquisition target, Cloud Lands Digital Fortress, has entered into two formal binding agreements with Fujitsu Australia.

The first agreement with Fujitsu, a Master Services Agreement, provides Cloud Lands’ with access to Fujitsu’s top tier professional IT services and on-going customer support and takes effect immediately.

The second agreement, which will become effective December 1, 2014, provides Cloud Lands with access to Fujitsu’s premier data centre in Perth.

Under this agreement, Cloud Lands will seek to obtain sufficient space to house its cloud services platform, and will be provided access to Fujitsu’s managed, secure data centre, which meets critical data governance and compliance requirements.

Negotiations to finalise an agreement to access Fujitsu’s Melbourne data centre are underway.

The agreements set Cloud Lands on a path to becoming a leading wholesale provider of cloud services to the growing SME market.

Currently, there are very few tailored solutions that provide small to medium enterprises access to high security, managed cloud services, housed in Australia.

The signing of these agreements with a recognised global IT provider provides an important validation of the Cloud Lands business model and product offering.

This announcement follows the agreement made on the 1 August 2014 by Resource Star to acquire 100% of the issued capital of Cloud Lands.

RSL is lightly capped at under $4 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 16 Oct 2014 13:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145630/resource-stars-target-cloud-lands-inks-deals-with-fujitsu-58225.html
<![CDATA[News - Resource Star to divulge details on cloud acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/145628/resource-star-to-divulge-details-on-cloud-acquisition-58150.html Resource Star (ASX:RSL) recently positioned itself to dial into the cloud-sector, with the company having an exclusive option to acquire 100% of the issued shares of Cloud Lands Digital Fortress Pty Ltd.

Cloud Lands’ business model is to aggregate Tier 2 enterprise and SME customers and provide cloud services.

RSL has now been granted a trading halt by the ASX pending an announcement on the acquisition, with the company's shares placed in pre-open.

The halt will remain in place until the opening of trade on Thursday 16th October 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.

]]>
Tue, 14 Oct 2014 09:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145628/resource-star-to-divulge-details-on-cloud-acquisition-58150.html
<![CDATA[News - Resource Star lifts into cloud space ]]> https://www.proactiveinvestors.com.au/companies/news/145626/resource-star-lifts-into-cloud-space-56654.html Resource Star (ASX:RSL) should trade higher after it secured an exclusive Option to acquire Australian cloud computing service and infrastructure provider Cloud Lands Digital Fortress.

Cloud Lands’ business model is to aggregate Tier 2 enterprise and SME customers and provide full service grade cloud services with Tier 1 support from a leading global IT services and hardware supplier.

Cloud Lands also intends to use a world leading global IT networking and computing hardware vendor  and the pre-eminent global security equipment and software supplier to offer an integrated and secure enterprise class hardware, software and service solution.

Subject to the payment of an Option fee of $100,000, Resource Star has been granted a 90 day due diligence period.

Where the Option is exercised by Resource Star, completion of the acquisition will be conditional upon the satisfaction of a number of conditions.

These include completion of a capital raising of not less than $3,500,000, a consolidation of shares, and all other necessary shareholder and regulatory approvals.


Acquisition terms

RSL will pay Cloudlands shareholders a non-refundable Option fee of $100,000, followed by a cash payment of up to $500,000 on exercise of that option.

RSL will also issue 3,000,000 shares on a post-consolidation basis, and 3,000,000 options to acquire RSL shares, exercisable at $0.20 each and expiring on 31 March 2016, and 10,000,000 performance shares.

 

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.

]]>
Fri, 01 Aug 2014 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145626/resource-star-lifts-into-cloud-space-56654.html
<![CDATA[News - Resource Star, KGL Resources, Kibaran Resources options among ASX % Gainers at noon ]]> https://www.proactiveinvestors.com.au/companies/news/145624/resource-star-kgl-resources-kibaran-resources-options-among-asx-gainers-at-noon-56365.html Friday's ASX % Gainers at midday.

CompanyCodeLastChangeVolume Resource Star RSL $0.010 150% 600,000 KGL Resources KGL $0.225 66.67% 5,687,109 Aziana AZK $0.033 65% 3,058,459 Marenica Energy MEY $0.003 50% 12,500 International Goldfields IGS $0.003 50% 30,307,117 Caeneus Minerals CAD $0.007 40% 3,399,819 Kibaran Resources options KNLO $0.250 38.89% 278,500 Arc Exploration ARX $0.004 33.33% 100,000

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 18 Jul 2014 14:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145624/resource-star-kgl-resources-kibaran-resources-options-among-asx-gainers-at-noon-56365.html
<![CDATA[News - Resource Star to outline due diligence on Texas oil interest, additional acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/145622/resource-star-to-outline-due-diligence-on-texas-oil-interest-additional-acquisition-49111.html Resource Star (ASX: RSL) is in pre-open today following the ASX granting the company a trading halt, pending an update on the due diligence process of the D-Bar Leasing transaction, and a potential additional transaction opportunity.

Resource Star is currently transitioning itself into new resource sectors including oil in continental U.S., and away from uranium.

In August this year the company announced that it had entered into a binding terms sheet to acquire a 50% shareholding interest in D-Bar Leasing, Inc., a company incorporated in Abilene, Texas.

D-Bar Leasing has a 100% working interest in approximately 2,732 acres, in Abilene, where it is already producing between 30-50 barrels of oil per day.

The halt will remain in place until the opening of trade on Thursday 17th October 2013, 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.

]]>
Tue, 15 Oct 2013 14:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145622/resource-star-to-outline-due-diligence-on-texas-oil-interest-additional-acquisition-49111.html
<![CDATA[News - Resource Star jettisons uranium for oil and gas in the USA ]]> https://www.proactiveinvestors.com.au/companies/news/145620/resource-star-jettisons-uranium-for-oil-and-gas-in-the-usa-46288.html Resource Star (ASX:RSL) will in one swoop spread it wings into oil and gas, signing a binding term sheet with Searex Petroleum to acquire interest in an oil and gas project in Texas.

The D-Bar Leasing project to be acquired holds 8 producing leases which have 96 wells and internal projections are to achieve production rate of 500 barrels of oil per day (BOPD) by December 2013.

This could increase to 1,500 BOPD by December 2014 with a minimum 15 – 25 years low cost production life.

The deal is condition on raising a minimum of $5 million in fundraising by way of high yield (11-13%), short term of about 2 year debenture notes, due diligence and steps necessary to relist under Chapters 1 and 2 of ASX listing rules.

The agreement with Searex will see Resource Star acquiring a 50% shareholding interest in D-Bar Leasing, a company which has a 100% working interest in 2,732 acres of oil leases.

The acquisition is in line with the company's recent calibration in strategic direction to move into resource sectors other than its core uranium projects.

The acquisition is also seen as beneficial to Resource Star as under current state laws the Railroad Commission of Texas must acquire all oil produced at the spot price.

The oil leases are located on the edge of the Llano Uplift in North Central Texas and comprise a combined land area of about 2,732 acres.

D-Bar also and has the right to take up further acres in the leases, which could further increase its production capabilities through the development and drilling program of a further 240 new wells which, based on internal projections, could result in 4000+ barrels of oil per day in late 2017.

The total purchase consideration to Searex Petroleum comprises $1 million cash and 65 million shares upon completion. Purchase consideration also includes 41,000 performance shares to convert into a total of 410 million fully paid ordinary shares, upon meeting milestones.



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.

]]>
Fri, 02 Aug 2013 12:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145620/resource-star-jettisons-uranium-for-oil-and-gas-in-the-usa-46288.html
<![CDATA[News - Resource Star to update on diversification strategy transaction ]]> https://www.proactiveinvestors.com.au/companies/news/145619/resource-star-to-update-on-diversification-strategy-transaction-46188.html Resource Star (ASX: RSL) will soon announce a proposed significant transaction that is the cornerstone of its diversification strategy and has been granted an ASX trading halt.

The company had on 6 June said it would expand its activities in the mining industry by pursuing acquisition opportunities in the mining services sector.

This would allow it diversify its activities beyond its core market of uranium exploration, which the company said was difficult to raise capital for.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 2nd August 2013.

 

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.

]]>
Wed, 31 Jul 2013 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145619/resource-star-to-update-on-diversification-strategy-transaction-46188.html
<![CDATA[News - Resource Star is on the mining services acquisition trail ]]> https://www.proactiveinvestors.com.au/companies/news/145617/resource-star-is-on-the-mining-services-acquisition-trail-44264.html Resource Star (ASX: RSL) will now pursue acquisition opportunities in the mining services sector after the company's boards approved a major change of strategic direction away from the previous focus of uranium exploration.

Key factors identified for Resource Star going forward are to have assets in their portfolio which generate revenue and EBIT.

The company will also look for strategic partners to assist in the development of their existing uranium assets.

Resource Star recently entered into a binding $500,000 convertible note facility agreement with local private investment firm.

 

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.

]]>
Fri, 07 Jun 2013 15:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145617/resource-star-is-on-the-mining-services-acquisition-trail-44264.html
<![CDATA[News - Resource Star executes low cost acquisition of remaining 80% stake in Livingstonia ]]> https://www.proactiveinvestors.com.au/companies/news/145615/resource-star-executes-low-cost-acquisition-of-remaining-80-stake-in-livingstonia-28896.html Resource Star (ASX: RSL) is set to increase its control over the Livingstonia Uranium Project in Malawi with the company to acquire the remaining 80% of the project.

Under a restructured agreement with joint venture partner Globe Metals & Mining (ASX: GBE), the two companies will effectively swap Resource Star’s remaining 80% interest in the Machinga niobium-rare earth elements project for the 80% joint venture interest in Livingstonia that Resource Star has not yet earned.

The follows Resource Star’s initial 20% earn-in on Livingstonia, which was achieved in mid-March.

Resource Star will still retain a 0.7% gross production royalty interest in Machinga, while Globe will retain a 1% gross production royalty in Livingstonia.

Importantly, there is no cash component for the transaction which provides for a very low cost acquisition relative to the earn-in cost.

Simon Heggen, Resource Star managing director, commented on the positive move:

“We believe that this restructure is in the best interest of our shareholders as it strengthens our focus on our key project in Livingstonia, where there is great potential for future growth.

“We are currently planning the next round of drilling at Livingstonia and our exploration manager has recently returned from Malawi, following meetings with contractors, suppliers and Malawian Government officials, in order to map out the program.

“Once this is finalised the company will outline these plans to shareholders.”


Livingstonia – strategically located

Livingstonia is part of the prospective Karoo-equivalent sedimentary sequence that hosts a number of sandstone-hosted mineralised bodies through southern Africa, including Paladin Energy’s (ASX: PDN) nearby Kayelekera Uranium Mine in Malawi and ARMZ’s Mkuju River Project in neighbouring Tanzania.

The project hosts an Inferred Resource of 8.3 million tonnes at 325 parts per million for 6 million pounds of uranium oxide at the Chombe Prospect.

Late last year Resource Star was granted an extension to the northern boundary of the Livingstonia tenement, which increases the exploration potential of the project.

The northern boundary was found to be 300 metres further north than previously realised.

In addition, a further 100 metres of ground to the north of that boundary was able to be applied for and that has now been granted as an extension to the existing exploration licence.

The additional 400 metres to the north of the Inferred Resource is unexplored. The mineralisation identified to date at the Chombe Prospect extends up to the previously understood boundary, and trends in a north westerly direction into this area.

Drill holes along that boundary include Resource Star’s 2010 intersection of 11.8 metres at 517 parts per million equivalent uranium oxide. This mineralisation remains completely open to the north.


Uranium demand

Uranium demand is set to increase driven by major nuclear expansion in China.

China has proposed or planned to build 197 new reactors, which will in turn see demand rise from 4.5 million pounds to 40 million pounds by 2020.

The nation has almost no domestic production and spent more than $2 billion to acquire uranium products in 2011.

Globally, nuclear expansion continues with 62 reactors under construction, 156 planned and 343 proposed.

Even post-Fukishima, China, India, South Korea and Russia still remain committed to nuclear power, with uranium demand poised for long term growth.

More than 80 million pounds per year of new production is required to meet 2020 demand and even more new production is required by 2030.


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.

]]>
Tue, 15 May 2012 15:01:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145615/resource-star-executes-low-cost-acquisition-of-remaining-80-stake-in-livingstonia-28896.html
<![CDATA[News - Resource Star gains new substantial shareholder ]]> https://www.proactiveinvestors.com.au/companies/news/145613/resource-star-gains-new-substantial-shareholder-28846.html Resource Star (ASX: RSL) has added a new substantial shareholder to its register with Ecometrix acquiring an 18.57% share in the company.

Ecometrix purchased around 21.1 million shares for A$300,000, providing an average entry price of about $0.01 per share.

Investor interest in Resource Star has been growing as the company continues exploration at the Livingstonia uranium project in Malawi.

The company recently successfully raised A$1.14 million to begin a new round of exploration at the project.

Resource Star is earning up to an 80% stake in Livingstonia from joint venture partner Globe Metals and Mining (ASX: GBE).

In November 2011 an extension to the northern boundary of one tenement at the project was granted, boosting the project’s exploration potential.

The additional 400 metres of land lies to the north of the Chombe prospect’s existing Inferred JORC Resource of 8.3 million tonnes at 325 parts per million uranium oxide equivalent for a contained 6 million pounds of uranium oxide.

Resource Star is also advancing its other exploration projects, which include the Machinga Joint Venture and Ilomba Hill Joint Venture in Malawi as well as the Spinifex Joint Venture and the Edith River Project in Australia.


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.

]]>
Mon, 14 May 2012 14:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145613/resource-star-gains-new-substantial-shareholder-28846.html
<![CDATA[News - Resource Star nets A$1.14m through strong investor backing ]]> https://www.proactiveinvestors.com.au/companies/news/145611/resource-star-nets-a114m-through-strong-investor-backing--26950.html Resource Star (ASX: RSL) has successfully raised A$1.14 million to begin a new round of exploration at the Livingstonia uranium project in Malawi, as well as continue exploration at the company’s Australian projects.

The money was raised through a one for one non-renounceable entitlement issue of about 56.9 million shares at $0.02 each.

About 42%, or 23.8 million shares, was subscribed for by shareholders, and a further 15 million was allocated to an existing substantial shareholder under a shortfall placement due to be completed on 24 April.

The remaining 18.1 million shares were placed with Red Rock Resources, which agreed to underwrite the first $500,000 of any shortfall.

Part of the funds will be used to repay funding that was made available to Resource Star by Red Rock pending completion of the issue.


Livingstonia

Resource Star is earning up to an 80% stake in Livingstonia from joint venture partner Globe Metals and Mining (ASX: GBE).

In November 2011 an extension to the northern boundary of one tenement at the project was granted, boosting the project’s exploration potential.

The additional 400 metres of land lies to the north of the Chombe prospect’s existing Inferred JORC Resource of 8.3 million tonnes at 325 parts per million uranium oxide equivalent for a contained 6 million pounds of uranium oxide.

Resource Star is also advancing its other exploration projects, which include the Machinga Joint Venture and Ilomba Hill Joint Venture in Malawi as well as the Spinifex Joint Venture and the Edith River Project in Australia.

]]>
Tue, 27 Mar 2012 16:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145611/resource-star-nets-a114m-through-strong-investor-backing--26950.html
<![CDATA[News - Resource Star chairman acquires more shares on market ]]> https://www.proactiveinvestors.com.au/companies/news/145609/resource-star-chairman-acquires-more-shares-on-market--26841.html Resource Star (ASX: RSL) chairman Andrew Bell has purchased an additional 500,191 shares in the company for a total consideration of $12,298, providing an average entry price of $0.02 per share.

Bell now holds around 14.5 million fully paid shares, 9.9 million listed options and 2 million unlisted options following his most recent investment.

Resource Star is advancing its Livingstonia uranium project in Malawi, with plans to complete a new round of exploration following a $1.14 million capital raising.

The company is earning up to an 80% stake in Livingstonia from joint venture partner Globe Metals and Mining (ASX: GBE).

In November 2011 an extension to the northern boundary of one tenement at the project was granted, boosting the project’s exploration potential.

The additional 400 metres of land lies to the north of the existing Inferred Resource at the Chombe prospect.

Chomba hosts an Inferred JORC Resource of 8.3 million tonnes at 325 parts per million uranium oxide equivalent for a contained 6 million pounds of uranium oxide.

Resource Star is also advancing its other exploration projects, which include the Machinga Joint Venture and Ilomba Hill Joint Venture in Malawi as well as the Spinifex Joint Venture and the Edith River Project in Australia.

]]>
Fri, 23 Mar 2012 17:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145609/resource-star-chairman-acquires-more-shares-on-market--26841.html
<![CDATA[News - Resource Star seeks $1.14 million raising through partly underwritten entitlement issue ]]> https://www.proactiveinvestors.com.au/companies/news/145608/resource-star-seeks-114-million-raising-through-partly-underwritten-entitlement-issue-24834.html Resource Star (ASX: RSL) plans to raise up to $1.14 million to put towards exploration in Malawi and Australia and to repay funding from a major shareholder.

The money will be raised through a pro rata one for one non-renounceable entitlement issue offered at $0.02 each.

Substantial shareholder Red Rock Resources has already committed to take up its full entitlement under the issue and will underwrite the first $500,000 of any shortfall.

Part of the funds will be used to repay funding that was made available to Resource Star by Red Rock pending completion of the issue.

Proceeds from the issue will also be used to complete a new round of exploration at the Livingstonia uranium project in Malawi.

Resource Star plans to advance its other exploration projects, which include the Machinga Joint Venture and Ilomba Hill Joint Venture in Malawi as well as the Spinifex Joint Venture and the Edith River Project in Australia.

The rights issue opens on February 20, 2012, and is scheduled to close on March 6, 2012.

Livingstonia

Resource Star is earning up to an 80% stake in Livingstonia from joint venture partner Globe Metals and Mining (ASX: GBE).

In November 2011 an extension to the northern boundary of one tenement at Livingstonia was granted, boosting the project’s exploration potential.

The additional 400 metres of land lies to the north of the existing Inferred Resource at the Chombe prospect.

Chomba hosts an Inferred JORC Resource of 8.3 million tonnes at 325 parts per million uranium oxide equivalent for a contained 6 million pounds of uranium oxide, based on a 150 parts per million cut-off grade.

]]>
Fri, 03 Feb 2012 09:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145608/resource-star-seeks-114-million-raising-through-partly-underwritten-entitlement-issue-24834.html
<![CDATA[News - Resource Star: update on Toronto listed Cue Resources, no further interest in acquiring shares ]]> https://www.proactiveinvestors.com.au/companies/news/145606/resource-star-update-on-toronto-listed-cue-resources-no-further-interest-in-acquiring-shares-24575.html Resource Star (ASX: RSL) has updated the market on the company's interests in the Toronto listed Cue Resources (CVE: CUE)

The company towards the end of 2011 announced that it would not proceed with plans for a strategic interest in Cue, from its major shareholder Red Rock Resources Plc (LON: RRR) and Regency Mines Plc (LON: RGM).

Resource Star has now advised that on 24 January 2011 Red Rock announced that it had agreed to sell all its interest in Cue Resources to Uranium Energy Corp (NYSE-AMEX:UEC), which has agreed to acquire 100% of Cue Resources for common stock via a plan of arrangement.

On completion of the sale, currently expected in late March 2012, Red Rock will receive common stock in Uranium Energy Corp with a current market value of approximately A$1.33 million.

This was an unsolicited approach by Uranium Energy Corp to Cue Resources, and one that in prevailing market conditions the Cue Board felt was in the best interests of shareholders to accept. As a result of Red Rock’s decision to accept Uranium Energy Corp’s offer, Resource Star has no further interest in acquiring shares in Cue Resources.

 

]]>
Fri, 27 Jan 2012 09:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145606/resource-star-update-on-toronto-listed-cue-resources-no-further-interest-in-acquiring-shares-24575.html
<![CDATA[News - Resource Star: drilling commences at Machinga rare earths project ]]> https://www.proactiveinvestors.com.au/companies/news/145604/resource-star-drilling-commences-at-machinga-rare-earths-project-22409.html Resource Star (ASX: RSL) has flagged the start of drilling at the Machinga Rare Earths Project in Malawi by Globe Metals and Mining (ASX: GBE) today.

The 4,000 metre reverse circulation drilling program is designed to extend the significant heavy rare earth oxides and niobium mineralisation identified in a 2010 drilling program.

Results from that program included:

- 11 metres at 1% total rare earth oxides (TREO) with 330 grams per tonne (g/t) dysprosium from 12 metres, including 4 metres at 1.4% TREO with 492g/t dysprosium; and
- 5 metres at 1.55% TREO with 596g/t dysprosium from 19 metres, including 1 metre at 2.5% TREO with 971g/t dysprosium.

The current program will target the Machinga Main Zone and previously identified anomalies at the Lingoni prospect.

Resource Star owns 80% of the Machinga project, with Globe holding a 20% interest.

Globe is able to earn up to an 80% stake in the project by completing a Feasibility Study.

]]>
Tue, 22 Nov 2011 17:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145604/resource-star-drilling-commences-at-machinga-rare-earths-project-22409.html
<![CDATA[News - Resource Star responds to ASX query ]]> https://www.proactiveinvestors.com.au/companies/news/145601/resource-star-responds-to-asx-query-22350.html Resource Star (ASX: RSL) has indicated in its response to an ASX query over its ability to fund activities that the company's major shareholder Red Rock Resources (LSE: RRR) has confirmed its intention to “provide ongoing financial support”.

The company said it has already taken up the offer from Red Rock for November 2011 expenditure via an advance in funds.

Last month Resource Star announced Red Rock Resources’ support would be provided either by:

1. Unsecured loans at market interest rates; or
2. Advancing funds as a prepayment of Red Rock Resources’ allotment under any Entitlement Issue undertaken by Resource Star; or
3. Convertible loans on commercial terms.

Any loans would be repayable no later than the completion of Resource Star’s audit for the financial year ended 30 June 2012.

In its response to the ASX today, Resource Star said it is very much aware of its operating cash flow position and it intended to also undertake a capital raising in the first quarter of 2012 to raise approximately A$2 million.

“The proposed capital raising, the acceptance of the offer of financial support from the company’s major shareholder and ongoing expenditure restraint are designed to ensure that Resource Star Limited is able to continue to meet its business objectives,” the company said in its response to the ASX.


Operations

Last week Resource Star announced it has been granted an extension to the northern boundary of the Livingstonia EPL0187/05R tenement, which provides a boost to the exploration potential of the project in Malawi.

The company is earning up to an 80% interest in the Livingstonia Uranium Project from Globe Metals and Mining (ASX: GBE).

]]>
Mon, 21 Nov 2011 17:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145601/resource-star-responds-to-asx-query-22350.html
<![CDATA[News - Resource Star: Livingstonia extension offers possible increase to uranium resource in Africa ]]> https://www.proactiveinvestors.com.au/companies/news/145599/resource-star-livingstonia-extension-offers-possible-increase-to-uranium-resource-in-africa-21998.html Resource Star (ASX: RSL) has been granted an extension to the northern boundary of the Livingstonia EPL0187/05R tenement, which provides a boost to the exploration potential of the project in Malawi.

The company is earning up to an 80% interest in the Livingstonia Uranium Project from Globe Metals and Mining (ASX: GBE).

The company recently sought clarification from the Malawian authorities regarding the positioning of the northern boundary of the tenement and the projection system used to determine that boundary.

The clarification made it clear that the northern boundary was 300 metres further north than previously understood.

In addition, a further 100 metres of ground to the north of that boundary was able to be applied for and that has now been granted as an extension to the existing exploration licence.
 
The Chombe Prospect has an Inferred JORC Resource of 8.3 million tonnes at 325 parts per million equivalent uranium oxide for a contained 6 million pounds of uranium oxide at a lower cut-off grade of 150 parts per million.

The additional 400 metres to the north of the Inferred Resource is unexplored. The mineralisation identified to date at the Chombe Prospect extends up to the previously understood boundary, and trends in a north westerly direction into this area.

Drill holes along that boundary include Resource Star’s 2010 intersection of 11.8 metres at 517 parts per million equivalent uranium oxide. This mineralisation remains completely open to the north.

Also, the geophysical anomaly that originally indicated the presence of the Chombe mineralisation extends across the extended tenement boundary into an exploration licence held by Paladin Energy (ASX: PDN).

This newly recognised and acquired ground will be a focus of the next round of drilling at Livingstonia.


Resource Star/Globe Metals JV

In March 2010, Resource Star and Globe signed a joint venture agreement to explore the Livingstonia Project. Resource Star is earning up to 80% equity in the project through delivery on project development milestones.

At the end of 2010 Resource Star completed a program of a further 13 percussion holes for a total of 1,502 metres on the Chombe Prospect.

Mineralised zones were intersected in all but one of the holes, with some significant thick intersections along the eastern edge of the July 2010 Resource boundary.

Future work will focus on the exploration potential that exists in a number of areas around the defined resource, specifically:

- East of the northern end of the resource, where recent drilling has defined excellent thick zones of mineralisation;
- Along strike from the interpreted north-west trending zone of this thickened, higher grade mineralisation defined in the 2010 drilling within the resource;
- Within the resource, where interpretation suggests that earlier drilling has not always drilled through the full thickness of the host sequence; and
- In the new lower grade zone to the south, where sparse drilling indicates potential for defining shoots of higher grade mineralisation within the system and within the areas defined as resource potential by CSA Global.

]]>
Mon, 14 Nov 2011 14:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145599/resource-star-livingstonia-extension-offers-possible-increase-to-uranium-resource-in-africa-21998.html
<![CDATA[News - Resource Star: not proceeding with acquisition interest of Toronto listed Cue Resources ]]> https://www.proactiveinvestors.com.au/companies/news/145595/resource-star-not-proceeding-with-acquisition-interest-of-toronto-listed-cue-resources-21090.html Resource Star (ASX: RSL) has announced that it will not proceed with the acquisition of a strategic interest in the TSX-V listed Cue Resources (CVE: CUE) from Red Rock Resources Plc (LON: RRR) and Regency Mines Plc (LON: RGM) at this time.

The conditional agreement to acquire the strategic interest was announced to the ASX on 4 May 2011.

Since the conditional transaction was announced, Resource Star has been in discussions with Red Rock and Regency Mines to finalise the transaction.

However, Resource Star said that the parties have now agreed that the movement in equity market prices since the initial agreement and the continuing uncertainty in global markets mean that proceeding at this time would not be in the interests in any of the companies' shareholders.

 

]]>
Mon, 24 Oct 2011 13:02:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145595/resource-star-not-proceeding-with-acquisition-interest-of-toronto-listed-cue-resources-21090.html
<![CDATA[News - Resource Star receives support from major shareholder ]]> https://www.proactiveinvestors.com.au/companies/news/145594/resource-star-receives-support-from-major-shareholder-20361.html Resource Star (ASX: RSL) has advised that its major shareholder, Red Rock Resources Plc (LON: RRR), has confirmed its intention to provide Resource Star with ongoing financial support, if requested.

In an update to the market today, Resource Star said that subject to any necessary approvals, the support will be provided either by:

1. Unsecured loans at market interest rates; or
2. Advancing funds as a prepayment of Red Rock Resources’ allotment under any Entitlement Issue undertaken by Resource Star; or
3. convertible loans on commercial terms.

Any loans would be repayable not later than the completion of Resource Star’s audit for the financial year ended 30 June 2012.


Resource Star operations

In the quarterly update, Resource Star highlighted that the Livingstonia uranium resource increased by 30% to 6.0 million pounds at 325ppm eU3O8 following an independent review by CSA Global.

In other positive moves for the company, a joint venture was signed with Thundelarra Exploration for the Spinifex Uranium Project in Western Australia.

Exploration work also commenced on the unconformity related prospect, with new, well defined rare earth targets defined at Ilomba Hill in Malawi.

]]>
Tue, 04 Oct 2011 16:03:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145594/resource-star-receives-support-from-major-shareholder-20361.html
<![CDATA[News - Resource Star reports "enormous potential" of Machinga REE JV Project in Malawi ]]> https://www.proactiveinvestors.com.au/companies/news/145592/resource-star-reports-enormous-potential-of-machinga-ree-jv-project-in-malawi-17775.html Resource Star (ASX: RSL) has reported that Globe Metals and Mining (ASX: GBE) sees potential for a significant economic Rare Earth Elements (REE) deposit the the Machinga REE Joint Venture Project in Malawi.

Globe's update on the project announced today said “Machinga is in the right location, and initial results confirm the potential of the Project. Machinga North is just one of seven targets within the EPL and there is enormous potential to confirm a significant economic REE deposit.”

Globe has earned 20% of the project to date and can earn up to 80% of the project by completing a Feasibility Study. Resource Star said it was "particularly encouraged" by the 5,000 metre drilling program and the exploration budget of $500,000 planned by Globe for 2011.

Globe stated it was "excited at the now demonstrated heavy rare earth potential at Machinga, and in particular, the very high grades of dysprosium that have been encountered.”

A steady flow of results is expected from Globe over the remainder of the year that will lead to a better understanding of the REE potential at Machinga.

Simon Heggen, Resource Star's managing director said, “we are delighted with the progress Globe has been making at Machinga.

"Most importantly, we note the very high heavy rare earth ratio to total rare earths previously identified at Machinga North and the very high grades of dysprosium that have been found to date.

"We are looking forward to receiving the results of the upcoming exploration program at Lingoni, and Machinga North, Central and South over the remainder of the year.”

Resource Star already holds a JORC Inferred Resource of; 7.7 million tonnes at 270 parts per million (ppm) uranium (U3O8) for a total of 4.6 million pounds of contained metal at the Livingstonia project in Malawi.

]]>
Mon, 11 Jul 2011 16:31:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145592/resource-star-reports-enormous-potential-of-machinga-ree-jv-project-in-malawi-17775.html
<![CDATA[News - Resource Star 30% uranium resource boost to 6Mlb at Livingstonia in Africa ]]> https://www.proactiveinvestors.com.au/companies/news/145588/resource-star-30-uranium-resource-boost-to-6mlb-at-livingstonia-in-africa-17324.html Resource Star (ASX: RSL) have boosted by 30% the uranium resource to 6 million pounds at the Livingstonia Uranium Project joint venture in Malawi.

The Resource is; 8.3 million tonnes at 325 ppm eU3O8 for 6.0 million pounds of U3O8 (or 2,700 tonnes).

What is so important about the upgrade is just 1500 metres of drilling added around 1.4 million pounds of uranium.

More significantly, the company has generated a large increase in the high grade core of the deposit.

Multiple horizons of sandstone-hosted uranium have been defined, with possible fault controlled trends where the stacked zones merge to provide near-continuous
mineralisation.

The best intersection to date from LBPE 103 is; 33.95 metres at 338 ppm eU3O8.

Resource Star will now undertake an integrated geological study of historical data and a desktop conceptual development study to finalise plans for the next round of drilling and testwork.

Supporting this additional work is that the independent review concluded that there is excellent potential to identify additional resources.

Simon Heggen, managing director of Resource Star, said, "The growth in the Livingstonia Resource, together with the recently announced, conditional acquisition of a share of the exciting Yuty Uranium Project in Paraguay, and the commencement of work on the Spinifex Project in Western Australia, emphasises the company’s commitment to growing value for shareholders by identifying, acquiring and exploring projects that can be advanced quickly.”

Resource Star will now conduct an integrated review of all data collected to refine geological modelling and generate further drill targets, with a Conceptual Study assessing development options to better focus data collection requirements.

Follow-up drilling will also be completed during 2011.

Globe Metals & Mining (ASX: GBE) is Resource Star's joint venture partner at Livingstonia.

Resource Star currently holds a 20% interest in the project, with Globe 80%, with Resource Star able to earn up to a total 51% interest by spending US$3.25 million over a four year period, in addition to the company's spend in relation to the initial 20% interest.

In the event that Resource Star is able to produce a 10,000 tonne U3O8 inferred JORC Resource within a further two year period, the company can earn a total 70% interest in the project, and a maximum 80% interest upon completion of a Feasibility Study.

]]>
Wed, 22 Jun 2011 16:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145588/resource-star-30-uranium-resource-boost-to-6mlb-at-livingstonia-in-africa-17324.html
<![CDATA[News - Resource Star 30% uranium resource boost to 6Mlb at Livingstonia in Africa ]]> https://www.proactiveinvestors.com.au/companies/news/145587/resource-star-30-uranium-resource-boost-to-6mlb-at-livingstonia-in-africa-17322.html Resource Star (ASX: RSL) have boosted by 30% the uranium resource to 6 million pounds at the Livingstonia Uranium Project joint venture in Malawi.

The Resource is; 8.3 million tonnes at 325 ppm eU3O8 for 6.0 million pounds of U3O8 (or 2,700 tonnes).

What is so important about the upgrade is just 1500 metres of drilling added around 1.4 million pounds of uranium.

More significantly, the company has generated a large increase in the high grade core of the deposit.

Multiple horizons of sandstone-hosted uranium have been defined, with possible fault controlled trends where the stacked zones merge to provide near-continuous
mineralisation.

The best intersection to date from LBPE 103 is; 33.95 metres at 338 ppm eU3O8.

Resource Star will now undertake an integrated geological study of historical data and a desktop conceptual development study to finalise plans for the next round of drilling and testwork.

Supporting this additional work is that the independent review concluded that there is excellent potential to identify additional resources.

Simon Heggen, managing director of Resource Star, said, "The growth in the Livingstonia Resource, together with the recently announced, conditional acquisition of a share of the exciting Yuty Uranium Project in Paraguay, and the commencement of work on the Spinifex Project in Western Australia, emphasises the company’s commitment to growing value for shareholders by identifying, acquiring and exploring projects that can be advanced quickly.”

Resource Star will now conduct an integrated review of all data collected to refine geological modelling and generate further drill targets, with a Conceptual Study assessing development options to better focus data collection requirements.

Follow-up drilling will also be completed during 2011.

Globe Metals & Mining (ASX: GBE) is Resource Star's joint venture partner at Livingstonia.

Resource Star currently holds a 20% interest in the project, with Globe 80%, with Resource Star able to earn up to a total 51% interest by spending US$3.25 million over a four year period, in addition to the company's spend in relation to the initial 20% interest.

In the event that Resource Star is able to produce a 10,000 tonne U3O8 inferred JORC Resource within a further two year period, the company can earn a total 70% interest in the project, and a maximum 80% interest upon completion of a Feasibility Study.

 

]]>
Wed, 22 Jun 2011 16:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145587/resource-star-30-uranium-resource-boost-to-6mlb-at-livingstonia-in-africa-17322.html
<![CDATA[News - Resource Star commences geological mapping at Spinifex JV Uranium Project ]]> https://www.proactiveinvestors.com.au/companies/news/145586/resource-star-commences-geological-mapping-at-spinifex-jv-uranium-project-16997.html Resource Star (ASX: RSL) has commenced detailed geological mapping at the Spinifex Uranium Project in Western Australia in order to confirm locations for a planned 1,000 metre diamond drilling program.

The company is planning to begin a Work Clearance Survey in conjunction with the Traditional Owners shortly, to clear the proposed drilling locations.

Permits will be sought for the maiden drilling program to target the interpreted zone of fault associated unconformity, in conjunction with an application for an extension of the exploration license (E80/3572), on receipt of the Survey.

Historical key results include reported trenching up to 13.5%  uranium (U3O8) and grab samples of 4.2% U3O8 at Spinifex.

Joint venture partner Thundelarra Exploration (ASX: THX) recently identified a new zone of remobilised surface mineralisation along the unconformity at the nearby A1 prospect with a total of 4 samples reporting in excess of 0.5% U3O8 and an average for the remainder of 140 parts per million (ppm) U3O8.
 
Through exploration and financial commitments, Resource Star is currently earning up to 51% of the joint venture with Thundelarra at Spinifex, located about 50 kilometres south of Kununurra.

]]>
Thu, 09 Jun 2011 15:08:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145586/resource-star-commences-geological-mapping-at-spinifex-jv-uranium-project-16997.html
<![CDATA[News - Resource Star appoints exploration manager to grow resource base at Livingstonia ]]> https://www.proactiveinvestors.com.au/companies/news/145585/resource-star-appoints-exploration-manager-to-grow-resource-base-at-livingstonia-16630.html Resource Star (ASX: RSL) have appointed the experienced Baker Khudeira as exploration manager, with Khudeira's initial tasks to continue to grow the Resource base at the company's Livingstonia Uranium Project in Malawi.

Prior to being appointed at Resource Star, Khudeira worked as a senior exploration geologist for BHP Billiton (ASX: BHP) at the Yeelirrie Uranium Project in Western Australia.

Importantly, Khudeira has worked at the Heathgate Resources’ Beverley Uranium Mine in South Australia, which is a sandstone hosted uranium deposit, and the same style as Livingstonia.

Khudeira will lead a team to carry out additional grassroots exploration work on the company's Northern Territory tenements along with completing a diamond drill campaign at the Spinifex unconformity related uranium project in Western Australia.

At Livingstonia, Resource Star is earning 80% and in 2010 a maiden JORC Inferred Resource of; 7.7 million tonnes at 270ppm U3O8 was defined.

 

]]>
Fri, 27 May 2011 08:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145585/resource-star-appoints-exploration-manager-to-grow-resource-base-at-livingstonia-16630.html
<![CDATA[News - Resource Star appoints experienced Simon Heggen as managing director and CEO ]]> https://www.proactiveinvestors.com.au/companies/news/145583/resource-star-appoints-experienced-simon-heggen-as-managing-director-and-ceo-16072.html Resource Star (ASX: RSL) has appointed the resource and financially experienced Simon Heggen as managing director and chief executive officer.

Heggen has over 25 years of experience in corporate development, investment banking, and strategic planning, with almost half of his career in the resources sector, for major companies including Boral, WMC Resources, Wesfarmers, Schroders Australia and members of the Smorgon Family.

Resource Star will be able to use Heggen's North and South America experience and extensive network of contacts at senior levels in the resources, industrial and banking sectors, to help with the proposed strategic acquisition of a 17.6% stake in Cue Resource (CVE: CUE), for C$2.2 million.

The acquisition, which is subject to shareholder approval, would provide Resource Star with a stake in a NI43-101 compliant Resource of; 10.1Mt at 430ppm eU3O8, boosting the company's global uranium footprint.

The acquisition has come from Resource Star agreeing to acquire the interest in Cue from its major shareholder Red Rock Resources (LON: RRR) and Regency Mines (LON: RGM), subject to shareholder approval.

 

]]>
Mon, 09 May 2011 08:49:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145583/resource-star-appoints-experienced-simon-heggen-as-managing-director-and-ceo-16072.html
<![CDATA[News - Regency and Red Rock sell Cue Resources holdings to Resource Star ]]> https://www.proactiveinvestors.com.au/companies/news/145582/regency-and-red-rock-sell-cue-resources-holdings-to-resource-star-15956.html Red Rock Resources Plc (LON:RRR) and Regency Mines Plc (LON:RGM), both chaired by Andrew Bell, have announced the disposals of their entire holdings in Cue Resources Ltd (CVE:CUE) to Resource Star Limited (ASX:RSL) - where the AIM dealmaker is chairman and chief executive.

Regency is selling its holding of 4,506,385 Cue shares to Resource Star for C$444,000.

Red Rock - in which Regency holds 20.96 percent and which in turn holds a 24.9 percent stake in Resource Star - is selling 15,798,000 Cue shares to Resource Star for C$1.56 million.

Red Rock is also transferring a C$200,000 loan to Cue at face value together with warrants to subscribe in aggregate for 15,798,000 additional Cue shares.

Cue Resources is a Vancouver-based exploration company focused on developing the Yuty uranium project in Paraguay.

]]>
Wed, 04 May 2011 22:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145582/regency-and-red-rock-sell-cue-resources-holdings-to-resource-star-15956.html
<![CDATA[News - Resource Star looks to acquire stake in Paraguay based uranium play ]]> https://www.proactiveinvestors.com.au/companies/news/145580/resource-star-looks-to-acquire-stake-in-paraguay-based-uranium-play-15946.html Resource Star (ASX: RSL) will boost the company's uranium focused global footprint with the purchase of a strategic 17.6% stake in Cue Resource (CVE: CUE), for C$2.2 million.

Cue owns the Yuty Uranium Project in Paraguay which holds a NI43-101 compliant Indicated & Inferred Resource of; 10.1 million tonnes at 430ppm eU3O8 at the San Antonio Deposit.

The acquisition has come from Resource Star agreeing to acquire the interest in Cue from its major shareholder Red Rock Resources (LON: RRR) and Regency Mines (LON: RGM), subject to shareholder approval.

Consideration will be paid in two instalments, 40% on completion with the balance six months later.

Resource Star said the project has considerable further potential at both San Antonio and generally within the Cue concession area.

Most importantly in building the resource, Cue has expressed the intention of continuing an active exploration program.

This program will focus on the expansion of and feasibility assessment of the San Antonio Deposit, following up on encouraging initial metallurgical and permeability test work, drilling at additional prospects and expansion of exploration to the majority of concession.

Increasing the prospectivity of the concession, is that there has been little or no modern exploration.


The transaction

Under the terms of the contemplated transaction Resource Star will acquire 20,304,385 ordinary shares in Cue, for 17.6% of the issued capital, and a loan to Cue of C$0.2 million.

Resource Star will also acquire 15,798,000 warrants convertible to ordinary shares in Cue at prices between C$0.12 and C$0.15 for each Cue share, which if converted would on a fully diluted basis boost Resource Star's interest to 18.8%.


Recent exploration

Recently 3,600 metres of new drilling at San Antonio was completed, with highlights including; 2.6 metres at 500ppm eU3O8 and 2.0 metres at 1,100ppm eU3O8 outside the existing resource boundary.

Inside the resource boundary highlights included; 6.3 metres at 2,000ppm eU3O8.

In March 2011 a further 3,500 metre program was initiated at a second prospect, San Miguel, located just 10 kilometres away.

Adding to the potential, historical drilling had indicated further uranium mineralisation, with results to date confirming the areas prospectivity with intersections reported of; 13.9 metres at 330ppm eU3O8, 9 metres at 250ppm eU3O8 and 14.8 metres at 180ppm eU3O8.


Resource Star's JORC Resource project

Resource Star already holds a JORC Inferred Resource of; 7.7 million tonnes at 270ppm U3O8 for a total of 4.6 million pounds of contained metal at the Livingstonia project in Malawi.

The company currently has an Addition to Resource under review, to be followed by a Scoping Study.

Adding to the potential of the area surrounding Livingstonia, is that major miner Paladin Energy (ASX: PDN) is operating in the Kayelekera U Mine around 100 kilometres away.

In Australia, Resource Star is conducting reconnaissance on the new Pine Creek targets including follow-up drilling and airborne gpx.

 

]]>
Wed, 04 May 2011 13:26:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145580/resource-star-looks-to-acquire-stake-in-paraguay-based-uranium-play-15946.html
<![CDATA[News - Resource Star defines new geochemical rare earth elements targets in Malawi ]]> https://www.proactiveinvestors.com.au/companies/news/145578/resource-star-defines-new-geochemical-rare-earth-elements-targets-in-malawi-15799.html Resource Star (ASX: RSL) has identified rare earth elements (REE) anomalies after the interpretation of a systematic soil survey at the company’s 90% - owned Ilomba Hill Project in northern Malawi.

Historical sampling work had previously identified niobium and uranium mineralisation at Ilomba Hill but the new REE anomalies are separate to known mineralisation.

The strongest REE target is up to four to five times background, over an area of 1.6 x 0.4 kilometres, defining a new anomalous zone.

The 90% owned Ilomba Hill is a multi-metal niobium, uranium and rare earth prospect with the same alkali intrusive style as the company's Machinga discovery in 2010 and Globe Metals & Mining's (ASX: GBE) Kanyika niobium project in Malawi.

Resource Star has also defined six new subsidiary rare earth elements and niobium – tantalum – uranium – thorium targets at other parts of the complex.

The company plans to follow-up the soil survey with mapping and rock-chip sampling or trenching. Resource Star also plans to develop an initial shallow drill-testing program on the basis of integrated results.

A private Malawian company, Nyalihanga Enterprises, holds the remaining 10% stake in the project and has commenced exploration of the project in conjunction with Resource Star.

In 2010, Resource Star had exploration success with the Machinga multi metal and heavy rare earth element  discovery in Malawi.

 

]]>
Thu, 28 Apr 2011 10:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145578/resource-star-defines-new-geochemical-rare-earth-elements-targets-in-malawi-15799.html
<![CDATA[News - Resource Star hits thick zones of uranium at Livingstonia in Malawi ]]> https://www.proactiveinvestors.com.au/companies/news/145577/resource-star-hits-thick-zones-of-uranium-at-livingstonia-in-malawi-13479.html Resource Star (ASX: RSL) drilling has confirmed near surface wide intersections of uranium at the Livingstonia Uranium project, located in Malawi.

Key uranium intersections included:

- 11.80 metres at 517ppm uranium, including 2.15 metres at 1,546ppm uranium from 78 metres;
- 33.95 metres at 338ppm uranium, including 12.10 metres at 575ppm uranium from 66 metres; and
- 21.65 metres at 306ppm uranium, including 8.70 metres at 552ppm uranium from 73 metres.

Andrew Bell, chairman, said "These are very pleasing results from Resource Star’s first drilling program on the Livingstonia Uranium Project, as we have been able to match the highest grades encountered to-date and may have appreciably increased the tonnage potential.

"An intersection of more than double the width found so far, with a grade above the JORC Resource defined to date, clearly indicates the upside potential that exists at Livingstonia.”

These strong results have provided the impetus for Resource Star to initiate a review of the existing JORC Resource, with a goal of boosting the contained metal.

The Inferred JORC Resource is; 7.7 million tonnes averaging 270 ppm uranium for a contained 4.6 million pounds of uranium.

 

]]>
Fri, 28 Jan 2011 11:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145577/resource-star-hits-thick-zones-of-uranium-at-livingstonia-in-malawi-13479.html
<![CDATA[News - Resource Star to target uranium and niobium at Ilomba Hill in Malawi ]]> https://www.proactiveinvestors.com.au/companies/news/145576/resource-star-to-target-uranium-and-niobium-at-ilomba-hill-in-malawi-11718.html Resource Star (ASX: RSL) has commenced systematic soil sampling at its 90%-owned Ilomba Hill Uranium-Niobium Project, located in Malawi, East Africa.

Prospectivity at the project was recently confirmed by previously unpublished historical results, with four of the eight samples are highly anomalous in niobium (>1% Nb2O5) and uranium (2,000ppm to >1% U3O8), with six of the samples having elevated zirconium results (>0.5% ZrSiO4).

The program will focus on the defined radiometric targets identified within the alkali syenite intrusion, by recent airborne geophysical surveying, which will cover around 12 sq km, with more than 800 samples forecast to be collected.

The geophysics shows a strong north-west trending uranium and thorium response of 1 to 1.5km length along the top of Ilomba Hill.

Resource Star has also submitted an application to extend the exploration tenement to cover the whole of the nepheline syenite.

A Malawian private company, Nyalihanga Enterprises Ltd, holds the remaining 10% interest in the project.

Resource Star recently reported a maiden JORC compliant inferred resource estimate of; 7.7Mt at 270ppm U3O8 for a total of 4.6Mlb of contained metal, on the Livingstonia uranium mineralisation in East Africa.

 

]]>
Mon, 15 Nov 2010 15:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145576/resource-star-to-target-uranium-and-niobium-at-ilomba-hill-in-malawi-11718.html
<![CDATA[News - Resource Star identifies uranium anomaly over 1.5km strike length at Ilomba Hill ]]> https://www.proactiveinvestors.com.au/companies/news/145574/resource-star-identifies-uranium-anomaly-over-15km-strike-length-at-ilomba-hill-10538.html Uranium explorer Resource Star (ASX: RSL) has conducted an aeromagnetic and multi-spectral radiometric survey, defining radiometric anomalies at its 90% owned Ilomba Hill Uranium-Niobium Project in Malawi.

Prospectivity was recently confirmed by historical results, with 4 of the 8 samples highly anomalous in niobium (>1% Nb2O5) and uranium (2,000ppm to >1% U3O8), with 6 having elevated zirconium results (>0.5% ZrSiO4).

New satellite targets identified from the survey are within a major uranium/thorium feature, with a strong radiometric target defined over a 1-1.5km strike length.

The identified features are radiometric anomalies within the alkali syenite intrusive, which will form the focus of ground exploration scheduled to commence by the end of October and designed to develop trenching and drilling targets.

Following on from the survey, Resource Star has now planned a reconnaissance mapping and systematic soil sampling, and has submitted an application to acquire additional nearby prospective geology.

Soil sampling is planned for the fourth quarter 2010, which will also show the distribution of non-radiogenic metals, such as niobium, tantalum, zircon and potentially any rare earth elements in the system.

The company’s other main projects include the wholly owned Edith River and Hayes Creek South Uranium Projects in the Northern Territory, and joint ventures with Globe Metals & Mining (ASX: GBE) on the Machinga Niobium-Rare Earths Project in Malawi.

]]>
Tue, 05 Oct 2010 12:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145574/resource-star-identifies-uranium-anomaly-over-15km-strike-length-at-ilomba-hill-10538.html
<![CDATA[News - Resource Star concludes due diligence on Livingstonia Uranium Project ]]> https://www.proactiveinvestors.com.au/companies/news/145571/resource-star-concludes-due-diligence-on-livingstonia-uranium-project-7565.html Resource Star (ASX: RSL) has reported the successful completion of the due diligence on the Livingstonia Uranium Project in Malawi, southeast Africa and has informed the company’s JV partner, Globe Metals and Mining Limited (ASX: GBE) of the satisfactory conclusion of the technical and administrative elements of its review of the project.

The JV agreement provides for RSL having first right-of-refusal over an exploration joint venture over Globe's sandstone-hosted uranium Livingstonia Project.

As previously announced, Resource Star has already commenced a Mineral Resource estimate using the existing drill information, with the work due for completion during June, 2010.

Some 11,000m of drilling has previously been completed by Globe, with more than 85% of the 80+ drill holes intersecting mineralisation (>200ppm.m eU3O8) at the Chombe Prospect. Local thickenings and multiple horizons of mineralisation are known.

Richard Evans, chief executive officer, said the company hopes these trends will be defined further in the Mineral Resource estimate process and tested during the proposed follow-up drilling planned for Q3-Q4 2010.

As announced on March 16, 2010, Resource Star will be managing the exploration work directed by a steering committee which includes Globe personnel, and in a staged process Resource Star can earn up to a total of 80% equity in the project.

Resource Star expects it will have reached the initial 20% equity hurdle through the completion of the Mineral Resource estimate and proposed follow-up drilling by the end of 2010.

]]>
Tue, 01 Jun 2010 05:45:00 +1000 https://www.proactiveinvestors.com.au/companies/news/145571/resource-star-concludes-due-diligence-on-livingstonia-uranium-project-7565.html
<![CDATA[News - Resource Star uncovers high grade uranium & niobium potential in Malawi ]]> https://www.proactiveinvestors.com.au/companies/news/145570/resource-star-uncovers-high-grade-uranium-niobium-potential-in-malawi-6165.html Resource Star (ASX: RSL) has acquired newly discovered historical rock-chip results from RSL’s 90%-owned Ilomba Hill tenement in Malawi that confirm prospectivity for niobium, zircon and uranium, and indicate the presence of localised high grades.

Half of the samples have results greater than 1% Nb2O5 and 2,000ppm U3O8.  Best result graded 3.79% Nb2O5 and 1.12% U3O8.

The results are for eight surface outcrop grab samples from the complex alkali intrusive system that is the target of the Ilomba Hill exploration program.

These results confirm earlier reports of localised high grade multi-element specialty metals mineralisation and provide focus for the first phase of RSL’s exploration prgram there, planned for 2010 during the winter field season. 

This will assist to develop trenching and drilling targets at the Ilomba Hill tenement.

The Ilomba Hill Project is a key part of Resource Star’s existing uranium and uranium-related specialty metals portfolio in East Africa and Australia, particularly given the similarities to RSL’s Machinga JV Nb-REE project, and other work in Malawi.

The company will undertake reconnaissance mapping and sampling, with systematic radiometric surveying and sampling of the whole system.  An application has been made to extend the existing tenement area.

]]>
Thu, 01 Apr 2010 05:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145570/resource-star-uncovers-high-grade-uranium-niobium-potential-in-malawi-6165.html
<![CDATA[News - Resource Star applies for new uranium licence in Malawi ]]> https://www.proactiveinvestors.com.au/companies/news/145568/resource-star-applies-for-new-uranium-licence-in-malawi-6131.html Resource Star (ASX: RSL) has applied for a new licence in Malawi for uranium exploration under the adjacent, recently-announced Livingstonia Uranium Project exploration joint venture with Globe Metals and Mining (ASX: GBE).

The Application was made to explore a further 750km2 in the South Rukuru area, Malawi, where Resource Star is earning up to 80% equity interest through exploration expenditure.

The new licence is to cover exploration for sandstone-hosted uranium in a similar sequence to Paladin Energy’s (ASX: PDN) nearby Kayelekera Uranium Mine.

Key results at the South Rukuru area to date show: modern detailed airborne geophysics define a ~1km x 1km discrete zone of anomalism; soil sampling of this area produces coincident results >4x background; and rock chip result from sandstone within the anomaly of 193ppm U3O8.

Work planned includes Reconnaissance mapping and sampling in the area of previous activity and an initial drill program, to be targeted on the basis of results of this work.

The area shows encouraging indications of the potential for sandstone-hosted uranium mineralisation. Once the licence is granted it will be explored in conjunction with the Livingstonia Project where a Resource Estimate and drilling are planned for 2010.

Resource star said the South Rukuru area will provide an exciting and cost-effective complement to the company’s existing project portfolio.

If granted this tenement will be incorporated into the JV with no change to the expenditure terms, so Resource Star will sole fund exploration, up to the completion of a feasibility study, and in doing so earn staged equity through the achievement of defined exploration and assessment hurdles.

Work will be directed by the Operating Committee, of which Globe will be a member, and assistance will be provided to Resource Star by Globe’s in-country team where possible.

]]>
Wed, 31 Mar 2010 13:35:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145568/resource-star-applies-for-new-uranium-licence-in-malawi-6131.html
<![CDATA[News - Red Rock Resources’ associate Resource Star agrees Livingstonia uranium JV with Globe Metals & Mining ]]> https://www.proactiveinvestors.com.au/companies/news/145566/red-rock-resources-associate-resource-star-agrees-livingstonia-uranium-jv-with-globe-metals-mining-5710.html Red Rock Resources’ (AIM: RRR) associate Resource Star (ASX: RSL) has signed a joint venture agreement with Globe Metals & Mining (ASX: GBE), to earn up to 80% interest in the advanced Livingstonia uranium project in Malawi. The AIM listed company also noted that, through two transactions this month, it has increased its shareholding in Resource Star to 26.3%, up from 24.4% when its associate relisted on the ASX in February.

According to Resource Star, Livingstonia is an advanced sandstone-hosted uranium project, which already has a defined mineralisation with potential for conversion into a resource. The company said that Livingstonia’s geological setting is similar to Paladin Energy’s (ASX, TSX: PDN) recently opened Kayelekera mine, which is located 100km to the northwest.

Under the terms of the JV, Resource Star will solely fund the project’s exploration, up to the completion of a feasibility study. Resource Star will earn an initial 20% stake in the project in Phase 1, by completing an immediate Resource Estimate and a follow-up 1,000m drilling program later in 2010. The remaining 60% will be earned through development milestones.

Through Phase 2, Resource Star can earn up to 51% in the project with ongoing assessment of the project, further expenditures of US$3.25m. Phase 3 of the JV agreement enables the company earn further equity in the project through the delineation of the resource, Resource Star will earn 70% once it has completed a JORC resource greater than 10,000 tonnes of contained uranium (U3O8). Finally through Phase 4, the company will earn an additional 10% once the Feasibility Study is costed with greater than 25% accuracy.

The Livingstonia project area was originally targeted based on airborne radiometrics, which were carried out in the nineteen-eighties. Three prospect areas have been defined at Livingstonia consisting of the Chombe prospect and the Chiweta and Bunga anomalies.

To date, Chombe has been the focus of most the work carried out on the project. Resource Star said that the mineralisation is predominantly contained within a relatively permeable sandstone host unit, which lies between less permeable layers.

Since 2006, Globe has drilled 94 holes totalling 11,533m, of which 75% encountered mineralisation, Resource Star said. Multiple horizons were encountered in many holes, with thicker and higher grade trends also recognised.

The best results from Globe’s drilling on the Chombe prospect include 15m at 402 parts per million (ppm) Triuranium octoxide (U3O8) including 9m at 562ppm U3O8, 5m at 576ppm U3O8 including 3m at 836ppm U3O8, 8.1m at 644ppm equivalent U3O8 including 3.1m at 806ppm equivalent U3O8 and 11.7m at 283ppm equivalent U3O8 including 2.2m at 677ppm equivalent U3O8.

Resource Star’s work in producing the resource estimate should help define targets for the 2010 drill program.

]]>
Tue, 16 Mar 2010 20:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145566/red-rock-resources-associate-resource-star-agrees-livingstonia-uranium-jv-with-globe-metals-mining-5710.html
<![CDATA[News - Resource Star granted tenement at Lake Barlee uranium project ]]> https://www.proactiveinvestors.com.au/companies/news/145565/resource-star-granted-tenement-at-lake-barlee-uranium-project-5337.html Resource Star Ltd (ASX: RSL) has announced the grant of a tenement application on the Lake Barlee calcrete-hosted uranium project in Western Australia.

In the Eastern Goldfields of Western Australia, Resource Star has a calcrete-hosted uranium project, and has received notification of approval for the grant of E29/72, which adjoins E29/581 held by Broadgold Pty Ltd.

Broadgold is exploring the area for other minerals, and has entered into a co-existence agreement such that Resource Star has the uranium rights over the lease.

Historical and previous Resource Star sampling confirmed the presence of uranium mineralisation within the surface sediments of the playa lake system. Values of between 100ppm and 300ppm U3O8 were obtained.

The average of sub-surface samples from one location, taken between 40cm and 60cm, was 230ppm U3O8, while surface samples collected from the same location contained an average of only 13ppm U3O8.

This indicates that surface sampling, and thus also radiometric surveys, in this area are not fool-proof tools for defining the extent of near-surface uranium mineralisation.

Once access requirements are finalised a shallow drilling program will be planned for the lake margins to assess the extent of mineralisation.

Resource Star Ltd has interests in uranium and uranium-associated exploration assets in the Northern Territory, Western Australia, Tasmania and Malawi.

Resource Star recently issued a Prospectus and completed a Public Share Offer in conjunction with Allegra Capital, to allow the Company to comply Chapters 1 and 2 of the ASX Listing Rules, and the Company relisted in February 2010.

Resource Star shares last traded at 13 cents.

]]>
Tue, 02 Mar 2010 14:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145565/resource-star-granted-tenement-at-lake-barlee-uranium-project-5337.html
<![CDATA[News - Red Rock uranium exploration affiliate Resource Star to re-list in Australia ]]> https://www.proactiveinvestors.com.au/companies/news/145563/red-rock-uranium-exploration-affiliate-resource-star-to-re-list-in-australia-2940.html Red Rock Resources Plc (AIM: RRR) said its 27 percent-held Australia-based associate company Resource Star Ltd (ASX: RSL), focused on uranium exploration in Australia and Malawi, plans to raise up to A$5.6 million and re-list on the Australian Stock Exchange.

Red Rock noted a statement issued by Resource Star to the ASX which envisages a placement of up to 3,742,475 million shares at an issue price of A$0.16 to institutional and sophisticated investors, with the funds to be will be used for re-listing expenses and as general working capital.  Following the placement, the group plans a public offer of up to 25 million at 20 cents each to raise up to A$5 million.

Resource Star previously operated an online retail business and in August 2007 acquired a uranium exploration company, Orion Exploration Pty Ltd, from its major shareholder Red Rock together with uranium exploration rights in E29/581, a tenement in Western Australia. Red Rock also transferred certain exploration licenses located in Malawi, Southern Africa.

In July 2008, Resource Star changed the nature of its activities from a retail company to a mining company. Plans to re-list on the ASSX were shelved in January 2009 due to the economic downturn, and its shares have been suspended since.

]]>
Tue, 20 Oct 2009 19:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145563/red-rock-uranium-exploration-affiliate-resource-star-to-re-list-in-australia-2940.html
<![CDATA[News - Resource Star releases results on Malawi uranium exploration program ]]> https://www.proactiveinvestors.com.au/companies/news/145562/resource-star-releases-results-on-malawi-uranium-exploration-program-2874.html Uranium explorer Resource Star (ASX: RSL) has announced the final results on the company’s most recent work at its Machinga project in south Malawi.

In today’s announcement, the Melbourne-based company said it had completed detailed surveys over airborne radiometric targets in the Machinga lease, with a total of 210 rock chip samples analysed and reported.

The findings, including a mineralised package of niobium zirconium rare earth element tantalum uranium which is more than 2000m long and between 200 and 500m wide, has been defined within a disrupted contact zone between an alkali granite complex and its host rocks.

Additional potential value from REE by-products, with average grades of 4200ppm of total rare earth oxides – of which 27 per cent of this being more valuable heavy rare earth oxides - locally reaching 2.64 per cent TREO, including 70 per cent HREO.

Multiple phases of mineralising events, the controlling pegmatite swarm interpreted to extend undercover, alteration and mineralisation extending into host rocks were reported.

And at least 5km of additional along-strike has been defined after an assessment of the geochemical results and geophysical surveys enhanced the prospectivity of a contract zone about 7km in length.

Resource Star is also preparing to undertake a comprehensive program of geochemical sampling, trenching, drilling and mineralogical at the already defined area of anomalism.

Meanwhile, the company also announced licence EPL0230/07, which covers the Machinga program, has been amended to include niobium, zircon, tantalum, REEs and uranium.

An application has been lodged to enlarge the area to cover potential strike extensions or repetitions to the south and east.

RSL has interest in two license areas in Malawi - Chintheche in the central east of the country and Machinga in the south.

The areas were named as high priority radiometric targets after airborne geophysics were undertaken during a UN-sponsored Development Program across Malawi in the mid 1980’s.

]]>
Thu, 15 Oct 2009 06:17:00 +1100 https://www.proactiveinvestors.com.au/companies/news/145562/resource-star-releases-results-on-malawi-uranium-exploration-program-2874.html