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Australian Strategic Materials debuts on ASX with focus on critical materials

Australian Strategic Materials Limited (ASX:ASM) made its ASX debut today after completing its demerger from Alkane Resources Limited (ASX:ALK) (OTCMKTS:ALKEF) with its focus on critical materials and value-added production.

The company opened at $1.25 and traded in the range of $1.23 to $1.55 with more than 5.8 million shares changing hands.

Critical materials resource[hhmc]
ASMs cornerstone Dubbo Project has a long-term resource of critical materials including zirconium, rare earths, niobium and hafnium.

These materials are used in a range of sustainable technologies and new manufacturing industries such as renewable energy and electric vehicle production.

In a joint venture with South Koreas Zirconium Technology Corporation (ZironTech), ASM is advancing oxide separation and metallisation technologies to create a range of value-added materials from the Dubbo Project.

Pilot plant tests[hhmc]
ASM is progressing pilot plant test work on low emission, high purity metal technology to..

Australian Strategic Materials Limited (ASX:ASM) made its ASX debut today after completing its demerger from Alkane Resources Limited (ASX:ALK) (OTCMKTS:ALKEF) with its focus on critical materials and value-added production.

The company opened at $1.25 and traded in the range of $1.23 to $1.55 with more than 5.8 million shares changing hands.

Critical materials resource


ASMs cornerstone Dubbo Project has a long-term resource of critical materials including zirconium, rare earths, niobium and hafnium.

These materials are used in a range of sustainable technologies and new manufacturing industries such as renewable energy and electric vehicle production.

In a joint venture with South Koreas Zirconium Technology Corporation (ZironTech), ASM is advancing oxide separation and metallisation technologies to create a range of value-added materials from the Dubbo Project.

Pilot plant tests


ASM is progressing pilot plant test work on low emission, high purity metal technology to produce zirconium, titanium and rare earths for permanent magnet metals.

The companys opening day performance was assisted by the completion by ZironTech of the first production run of neodymium metal in its commercial pilot plant in South Korea.

Neodymium produced


ASMs patented reduction process was used to produce 7.6 kilograms of neodymium metal assaying 99.8%, a higher purity than typically traded neodymium metal.

This result validates the companys patented carbon-free metallisation technology for rare earth metals and is the latest in a series of production runs that have confirmed this method uses up to 50% less energy than current commercial production methods.

“Major milestone”


Australian Strategic Materials managing director David Woodall said: “This is a significant result for ASM, as this process has resulted in the production of neodymium metal at a higher purity than typically traded.

“My team and I have travelled to South Korea to discuss the significant potential of ASMs integrated strategy with various Korean government and business groups.

“This also allows me to see the progress made by the great ZironTech team and to celebrate this major milestone with them."

Final commissioning


ASMs JV is advancing the final commissioning of the electro-refining plant and is progressing the production of other key metals including zirconium, praseodymium and dysprosium.

All of these essential for the new technologies and advanced manufacturing markets in Australia and globally.

Commissioning of the electrorefining section of the pilot plant is progressing well.

This process is expected to produce high purity (99.9%) titanium metal with results expected in August 2020.

Further pilot plant runs are planned to produce additional neodymium, dysprosium and praseodymium, as well as other Dubbo products, in metallic form.

“Clean metal production”


Woodall said: "Our strategy of integrating the products from our Dubbo Project into metals that can deliver to end use customers continues as we progress clean metal Read More – Source

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Australia

THC Global plans to accelerate medicinal cannabis production on back of strong June quarter

THC Global Group Ltd (ASX:THC) reached several milestones in the June quarter, supplying its first Australian patient with Canndeo branded medicinal cannabis medicines produced at its Southport Facility.

The roll-out of the full suite of the Canndeo medicines range is continuing throughout this quarter and will see the launch of eight new medicine formulations for Australian patients.

THC is also preparing for its maiden export of Canndeo branded medicines to Europe and Canada, with supply expected to commence in quarter three for Canada and quarter four for Europe.

New Zealand exports[hhmc]
In addition to medicinal cannabis sales under the Canndeo brand, THC is now a manufacturer for both Cannatrek and Medleaf Therapeutics.

Under the agreements with Cannatrek and Medleaf, THC will produce and white-label cannabis medicines under those respective brands for sale in the Australian and New Zealand market.

The initial export order to New Zealand worth $260,000 is expected to be deliv..

THC Global Group Ltd (ASX:THC) reached several milestones in the June quarter, supplying its first Australian patient with Canndeo branded medicinal cannabis medicines produced at its Southport Facility.

The roll-out of the full suite of the Canndeo medicines range is continuing throughout this quarter and will see the launch of eight new medicine formulations for Australian patients.

THC is also preparing for its maiden export of Canndeo branded medicines to Europe and Canada, with supply expected to commence in quarter three for Canada and quarter four for Europe.

New Zealand exports


In addition to medicinal cannabis sales under the Canndeo brand, THC is now a manufacturer for both Cannatrek and Medleaf Therapeutics.

Under the agreements with Cannatrek and Medleaf, THC will produce and white-label cannabis medicines under those respective brands for sale in the Australian and New Zealand market.

The initial export order to New Zealand worth $260,000 is expected to be delivered by the company in October.

Tetra Health


The Companys newly acquired clinic network, Tetra Health, has seen significant growth since acquisition with an increase of over 30% in patient enquiries in June alone.

Tetra Health is a key strategic asset for the company in seeking to bridge the affordability gap for cannabis medicines in Australia by providing low cost of access for new patients and product-independent guidance on medicines.

Hydroponics equipment


As announced in early July, the companys hydroponics equipment and cultivation solutions provider achieved its maiden $3 million unaudited half-year trading revenue milestone in June 2020, with total first half 2020 unaudited revenue reaching $3.2 million, being around a 50% increase over the prior period.

The launch of new product and service offerings targeted at the micro-cultivator and home-cultivator sectors through the year is expected to drive further revenue growth.

Difficulties in sourcing and transporting of merchandise from major Asian manufacturing hubs experienced in quarter one due to COVID-19 appear to have partially subsided over quarter two.

As the company noted in its quarter one update, these delays have affected the timing of cash receipts from customers but is unlikely to significantly affect revenue over a longer time scale given pending customer orders are fulfilled as stock is landed in Canada.

THC is preparing for its maiden export of Canndeo branded medicines to Europe and Canada

$8.1 million capital raising


During the quarter, the company completed an institutional placement to raise $6.6 million and a subsequent share purchase plan which raised a further $1.5 million, taking the total capital raised to $8.1 million at 30 cents per share.

Funds will be primarily applied towards enhancing the THCs working cRead More – Source

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Australia

Yandal Resources completes shortfall in $3.3 million non-renounceable rights issue

Yandal Resources Ltd (ASX:YRL) has issued the remaining shortfall shares under the 1 for 5 non-renounceable pro-rata rights issue to raise a total of $3.3 million before costs.

On June 12, the company directors announced a pro-rata non-renounceable rights offer to accelerate the Gordons project as well as the Mt McClure project in Western Australia.

Under the rights issue, eligible shareholders were offered the opportunity to acquire one new share for every five shares held at the record date on June 17 at an issue price of 25 cents per new share.

A total of 1.32 million shortfall shares have now been issued for $330,000

Exploration well-funded[hhmc]
The company plans to progress the feasibility study at its Flushing Meadows prospect at the Ironstone Well Project in the September quarter.

Exploration will also continue at the Gordons Dam prospect.

Yandal is well funded for drill programs which were postponed in the June quarter and will be completed in the September quarter.

The..

Yandal Resources Ltd (ASX:YRL) has issued the remaining shortfall shares under the 1 for 5 non-renounceable pro-rata rights issue to raise a total of $3.3 million before costs.

On June 12, the company directors announced a pro-rata non-renounceable rights offer to accelerate the Gordons project as well as the Mt McClure project in Western Australia.

Under the rights issue, eligible shareholders were offered the opportunity to acquire one new share for every five shares held at the record date on June 17 at an issue price of 25 cents per new share.

A total of 1.32 million shortfall shares have now been issued for $330,000

Exploration well-funded


The company plans to progress the feasibility study at its Flushing Meadows prospect at the Ironstone Well Project in the September quarter.

Exploration will also continue at the Gordons Dam prospect.

Yandal is well funded for drill programs which were postponed in the June quarter and will be completed in the September quarter.

These include:

  • 21 AC holes for 2,500 metres at the Flushing Meadows North prospect;
  • 6 AC holes for 720 metres at the Flushing Meadows South prospect;
  • 3 RC holes for 200 metres Read More – Source
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Australia

Nanoveu in back-to-back trading halts ahead of capital raising news

Nanoveu Ltd (ASX:NVU) has been granted back-to-back trading halts by the ASX pending a capital raising announcement.

The trading halt will be in place until the announcement is made or the start of normal ASX trading on Friday, August 7, whichever occurs sooner.

Distribution agreements [hhmc]
Nanoveu recently signed distribution agreements for its antiviral protection products for the Thai and Malaysian markets with Sanyo Trading Company Ltd.

Through these agreements, Sanyo will look to leverage its extensive contacts in the Asia-Pacific region to distribute several Nanoveus products to groups including hospitals, banks, schools and shopping malls.

Nanoveu will ship its business to business (B2B) rolls of antiviral film – to be applied to an increasing number of surfaces – in addition to its consumer-focused antiviral mobile phone cases and doorRead More – Source

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Nanoveu Ltd (ASX:NVU) has been granted back-to-back trading halts by the ASX pending a capital raising announcement.

The trading halt will be in place until the announcement is made or the start of normal ASX trading on Friday, August 7, whichever occurs sooner.

Distribution agreements


Nanoveu recently signed distribution agreements for its antiviral protection products for the Thai and Malaysian markets with Sanyo Trading Company Ltd.

Through these agreements, Sanyo will look to leverage its extensive contacts in the Asia-Pacific region to distribute several Nanoveus products to groups including hospitals, banks, schools and shopping malls.

Nanoveu will ship its business to business (B2B) rolls of antiviral film – to be applied to an increasing number of surfaces – in addition to its consumer-focused antiviral mobile phone cases and doorRead More – Source

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