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Footy club opens the ‘Egg Shed’ to honour hard work

Nyngan's Alister Quarmby has been left speechless, after the new dressing rooms at Larkin Oval were dedicated to him. At Saturday's game against the Macquarie Raiders, the crowd took a moment to unveil the new dressing rooms at the football oval, named after one of the club's most dedicated members. Nyngan Tigers club president Glen Neill was jointed by Bogan Shire mayor Ray Donald to open the 'Alister Quarmby dressing shed'. “You're probably the only one that knows how much time you've put in to the efforts with this code, but the shed now is being dedicated to Alister in testimony to the efforts he has made,” Councillor Donald said. “And would you believe it will be called the 'Egg Shed'.” Mr Quarmby was offered a to say a few words, but was speechless at the honour. “I'm a bit embarrassed to get this … there's a lot of other people who should have,” he uttered. But club president Glen Neill said, “there's heaps of people ma..

Nyngan's Alister Quarmby has been left speechless, after the new dressing rooms at Larkin Oval were dedicated to him. At Saturday's game against the Macquarie Raiders, the crowd took a moment to unveil the new dressing rooms at the football oval, named after one of the club's most dedicated members. Nyngan Tigers club president Glen Neill was jointed by Bogan Shire mayor Ray Donald to open the 'Alister Quarmby dressing shed'. "You're probably the only one that knows how much time you've put in to the efforts with this code, but the shed now is being dedicated to Alister in testimony to the efforts he has made," Councillor Donald said. "And would you believe it will be called the 'Egg Shed'." Mr Quarmby was offered a to say a few words, but was speechless at the honour. "I'm a bit embarrassed to get this … there's a lot of other people who should have," he uttered. But club president Glen Neill said, "there's heaps of people mate, but there's some that just stand out, and you've been that." "Everyone knows what they do for the club, but everyone knows what you've done now and in the past, so well done." Alister started played junior league for Nyngan before joining the senior ranks. Most of his playing career was in Nyngan except between 1998 and 2000 where he played for Dubbo. He returned in 2001 and continued to play for Nyngan until an unfortunate on field accident ending his playing career in 2013. Alister has held many positions on both the junior and senior league committees serving as both senior president for five years before the current president Glen Neill, and vice president as he remains today. READ ALSO: He was also involved in the Group 11 management committee for five years until 2018 travelling to meetings year round after work to ensure Nyngan had a voice in Group 11 football. Not only as a player and committee member, Alister has also devoted much of his time to coaching. "People know that if they ask 'Egg' to do something it will get done," Neill said. "He was responsible for applying for the grant for the dressing shed extensions and is always on the phone whether it's footy season or off-season to Group 11 executive, other clubs or the Tigers committee. "He spends countless hours chasing players, fielding enquiries from players, organisers, ordering jerseys and attending training sessions. "He is a very level headed person and has earned the respect of all those involved with rugby league in Group 11."

OPENING: Nyngan Tigers club president Glen Neill with Alister Quarmby who was honoured on Saturday with the opening of the 'Egg' shed. Photo: ZAARKACHA MARLAN

Nyngan's Alister Quarmby has been left speechless, after the new dressing rooms at Larkin Oval were dedicated to him.

At Saturday's game against the Macquarie Raiders, the crowd took a moment to unveil the new dressing rooms at the football oval, named after one of the club's most dedicated members.

Nyngan Tigers club president Glen Neill was jointed by Bogan Shire mayor Ray Donald to open the 'Alister Quarmby dressing shed'.

"You're probably the only one that knows how much time you've put in to the efforts with this code, but the shed now is being dedicated to Alister in testimony to the efforts he has made," Councillor Donald said.

"And would you believe it will be called the 'Egg Shed'."

Mr Quarmby was offered a to say a few words, but was speechless at the honour.

"I'm a bit embarrassed to get this … there's a lot of other people who should have," he uttered.

But club president Glen Neill said, "there's heaps of people mate, but there's some that just stand out, and you've been that."

"Everyone knows what theRead More – Source

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Carnarvon Petroleum chairman reflects on significant milestones at AGM

Carnarvon Petroleum Ltd (ASX:CVN) is conducting its annual general meeting today in Perth where chairman Peter Leonhardt shared his views on what has been a great year for the company.

Chairmans address
A number of years ago Carnarvon set out a clear plan which focused on the highly prospective North West Shelf of Western Australia. We continued this strategy consistently and with determination despite the recent challenging industry conditions.

The highlight of this strategy so far, as you well know, has been the landmark Dorado oil and gas discovery in 2018.

To date, Dorado is this centurys largest liquids discovery in the North West Shelf of Western Australia.

It has reinforced the exploration potential which still exists in this region and further strengthens Carnarvons strategic focus.

The importance of the Dorado discovery led Carnarvon and its Joint Venture partner, Santos, to move quickly to confirm and appraise it in 2019.

Looking back on the previous year, we now have t..

Carnarvon Petroleum Ltd (ASX:CVN) is conducting its annual general meeting today in Perth where chairman Peter Leonhardt shared his views on what has been a great year for the company.

Chairmans address

A number of years ago Carnarvon set out a clear plan which focused on the highly prospective North West Shelf of Western Australia. We continued this strategy consistently and with determination despite the recent challenging industry conditions.

The highlight of this strategy so far, as you well know, has been the landmark Dorado oil and gas discovery in 2018.

To date, Dorado is this centurys largest liquids discovery in the North West Shelf of Western Australia.

It has reinforced the exploration potential which still exists in this region and further strengthens Carnarvons strategic focus.

The importance of the Dorado discovery led Carnarvon and its Joint Venture partner, Santos, to move quickly to confirm and appraise it in 2019.

Looking back on the previous year, we now have two successful Dorado appraisal wells and two fantastic flow tests over the Caley and Baxter reservoirs performed during the Dorado-3 well.

With these results, we were extremely pleased to confirm the Dorado resource and to begin working towards the first phase of its development.

The Dorado project is a unique asset because of its scale, its jurisdiction in Australia, its location in shallow water, its proximity to supporting infrastructure and the strength of the operator in Santos.

We are looking forward to providing further updates as the project progresses next year.

Carnarvon also achieved an important milestone this year in the Buffalo project. We were able to execute a Production Sharing Contract with the Government of Timor-Leste on terms similar to those enjoyed in Australian. As you may recall the governments of Australia and Timor-Leste agreed to a Maritime Boundary Treaty between the two Nations. A result of the Treaty being that the Buffalo project will be conducted under Timor-Leste jurisdiction.

I feel it is important to reinforce that a key element of the Maritime Boundary Treaty was that the affected Companies would retain fiscal equivalence. Following extensive negotiations, the Buffalo PSC achieves a similar net-back to Carnarvon after government taxes and duties when compared to Australias offshore PRRT and income tax regimes.

With the PSC process now complete, Carnarvon has claRead More – Source

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Macarthur Minerals attracts pre-listing buy recommendation and 6-month price target of 43 cents

Macarthur Minerals Limited (CVE:MMS) (ASX:MIO proposed) has attracted strong interest in its proposal to list on the ASX and this is supported by a buy recommendation from Breakaway Research along with a 6-month price target of 43 cents.

In a research report, Breakaway said the listing would enable the company to profile its “valuable” Lake Giles Iron Ore Project in WA “to an investor base more familiar with the earnings and cash flow potential of the project and its strategic positioning which is driven by rail and port access”.

Lake Giles is 175 kilometres northwest of Kalgoorlie and has substantial magnetite resources at Moonstone project and hematite resources across a number of deposits at the Ularring project.

Macarthur plans to exploit the hematite resource through tribute mining and to focus on the high-value, high-grade magnetite resource.

After working the project for the last 7-8 years, Breakaway said Macarthur had tailored the project to optimise future and growing dema..

Macarthur Minerals Limited (CVE:MMS) (ASX:MIO proposed) has attracted strong interest in its proposal to list on the ASX and this is supported by a buy recommendation from Breakaway Research along with a 6-month price target of 43 cents.

In a research report, Breakaway said the listing would enable the company to profile its “valuable” Lake Giles Iron Ore Project in WA “to an investor base more familiar with the earnings and cash flow potential of the project and its strategic positioning which is driven by rail and port access”.

Lake Giles is 175 kilometres northwest of Kalgoorlie and has substantial magnetite resources at Moonstone project and hematite resources across a number of deposits at the Ularring project.

Macarthur plans to exploit the hematite resource through tribute mining and to focus on the high-value, high-grade magnetite resource.

After working the project for the last 7-8 years, Breakaway said Macarthur had tailored the project to optimise future and growing demand for high-grade magnetite concentrate.

This strategy focuses on early cash flow targeting high-grade regions of the Lake Giles magnetite deposits.

The project will utilise available capacity on the rail network and export facilities through the Port of Esperance, which provide significantly lower transportation capex requirements than many other competing projects.

Proposed haul road from the project to Jaurdi rail siding and onto Esperance.

Lake Giles pros

Among the other benefits of Lake Giles outlined by Breakaway in the report are:

  • Metallurgically the magnetite mineralisation has attributes which place its beneficiation performance ahead of many competing magnetite deposits. These include:

– Ore hardness – Lake Giles ore has a 16.2 bond work index; – Mass Pull – Lake Giles ore has a mass pull factor in the 45% to 50% range; – Grinding – Lake Giles ore requires grinding to deliver a P80 at 45um; and – Concentrate grade: high grade at 68.5% to 69.1% iron.

  • Not surprisingly, the project delivers robust earnings and cash flows after production commences in 2022 at a 2.5 to 3.4 million tonnes per annum saleable magnetite concentrate production rate.
  • Glencore has secured a 10-year offtake agreement which will assist the company to finance the A$315 million and $151 million direct and indirect capital costs respectively.
  • Sustainable earnings and cashflows are forecast at around $60m and +$80m pa respectively and generate an NPV7.5 in excess of $900m.
  • The Lake Giles Iron Ore project is also strategically located in the Yilgarn region where several recent transactions underpin the projects value.

As part of the listing process, the company has lodged a prospectus with the ASX to raise up to A$7.5 million to complete a Bankable Feasibility Study for the Lake Giles Iron Ore Project.

The company is also planning to complete a 1 for 4 consolidation which will result in the theoretical share price exceeding A20 cents per share.

Breakaway said: "As a consequence, Macarthur Minerals should attain an ASX listing before the end of CY2019.”

Following are extracts from the Breakaway report:

The Lake Giles Iron Ore Project is approximately 175 km northwest of Kalgoorlie and encompasses 62 square kilometres of mining tenements covering the Yeriligee greenstone belt in the Yilgarn Region.

The project has specific attributes which make it superior to many competing iron ore (magnetite) projects including readily available infrastructure to enable rail hauls and export facilities as well as favourable mining and ore processing attributes.

The company and others have spent more than $62m in advancing the Lake Giles project towards development since 2006.

At steady state, the Lakes Giles Iron Ore Project will produce 3.35mt pa +65% Fe magnetite concentrate and generate a sustainable >$80m pa cash flow within a minimum 31-year project life.

Glencore offtake agreement

The attractiveness of the project is also supported by Glencore which signed a binding 10-year offtake and marketing agreement for the magnetite concentrate sales in March this year.

Indeed, this project underpins our forecast earnings and cash flows for the company and hence our valuation.

Other projects

However, the company also has a number of early-stage exploration projects covering a variety of commodities and include:

  • Gold and lithium (hardrock) projects located in the Pilbara WA;
  • Hematite blending material;
  • The Reynolds Springs lithium brine project located in Nevada, USA; and
  • Nickel and cobalt prospects on parts of the Lake Giles Iron Ore Project tenements, WA.

As the company is clearly focused on bringing the Lake Giles Iron Ore Project into production, it has investigated options for advancing these projects to realise shareholder value without incurring expenditure or significant management time.

FEL joint venture

This includes a joint venture with Fe Limited (Read More – Source

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DomaComs investment platform has role to play as investors hunt for yield

DomaCom Ltd (ASX:DCL) provided a funds under management (FUM) update at its annual general meeting (AGM) yesterday.

The investment platform as of 8 November 2019 had $61.2 million in FUM.

DomaCom generates revenues based on the FUM so its growth and profitability are directly related to its ability to grow its FUM.

The company charges 0.88% per annum (p.a.) on property assets under management, 0.44% p.a. on mortgage assets and 0.22% p.a. on cash.

Funded for growth in a large addressable market
DomaCom has raised $8.75 million since December 2018, which it says will address its remaining growth hurdle being its balance sheet.

The company noted that only 10% of its clients are using the investment platform, which it expects to rapidly rise once the balance sheet has been addressed.

DomaCom is developing multiple channels to access its target market which is self-managed superannuation funds (SMFSs).

TheRead More – Source

DomaCom Ltd (ASX:DCL) provided a funds under management (FUM) update at its annual general meeting (AGM) yesterday.

The investment platform as of 8 November 2019 had $61.2 million in FUM.

DomaCom generates revenues based on the FUM so its growth and profitability are directly related to its ability to grow its FUM.

The company charges 0.88% per annum (p.a.) on property assets under management, 0.44% p.a. on mortgage assets and 0.22% p.a. on cash.

Funded for growth in a large addressable market

DomaCom has raised $8.75 million since December 2018, which it says will address its remaining growth hurdle being its balance sheet.

The company noted that only 10% of its clients are using the investment platform, which it expects to rapidly rise once the balance sheet has been addressed.

DomaCom is developing multiple channels to access its target market which is self-managed superannuation funds (SMFSs).

TheRead More – Source

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