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Cipherpoint gains momentum with strong digital lead generation uptick in face of new and high-profile data breaches

Cipherpoint Ltd (ASX:CPT) is beginning to gain momentum in identified target markets with the June quarter seeing a strong uptick in digital lead generation, despite significant reductions in marketing and advertising spend.

The company, which helps businesses and governments to identify, protect and control access to sensitive information, has been successful in expanding its customer base.

Formerly known as Covata Ltd, the company continues to see strong growth opportunities in the market for enterprise security products in the face of new and high-profile data breaches.

Further, the current pandemic has increased the focus on remote working, collaboration and digital transformation and, in turn, the need for more vigilance around data access and security.

New growth strategy[hhmc]

In July 2020, the company outlined its growth strategy to expand organically by generating greater revenues from new customers and to grow user numbers and revenues from existing customers.

Cipherpoi..

Cipherpoint Ltd (ASX:CPT) is beginning to gain momentum in identified target markets with the June quarter seeing a strong uptick in digital lead generation, despite significant reductions in marketing and advertising spend.

The company, which helps businesses and governments to identify, protect and control access to sensitive information, has been successful in expanding its customer base.

Formerly known as Covata Ltd, the company continues to see strong growth opportunities in the market for enterprise security products in the face of new and high-profile data breaches.

Further, the current pandemic has increased the focus on remote working, collaboration and digital transformation and, in turn, the need for more vigilance around data access and security.

New growth strategy

In July 2020, the company outlined its growth strategy to expand organically by generating greater revenues from new customers and to grow user numbers and revenues from existing customers.

Cipherpoint has also recently entered into co-development agreements to help clients transition their applications confidently to the cloud, with offerings that provide extensive control over and protection of sensitive information.

The company is also looking for acquisitions to drive momentum and these may include the acquisition of IP that will speed up time to market for key functionality or acquisitions of similar-sized businesses that will build greater scale.

It is moving from its old revenue model based on the traditional perpetual software licensing and maintenance and is working towards a subscription-based model in quoting new business and also sees the opportunity to develop consumption-based models for its discovery and classification products.

New deals

Bank of Finland has joined the company as an important customer in the European region while partner sales in Asia continue to achieve traction.

Singapore-based partner Total eBiz Solutions (TeBS) has added Singaporean Government agency Tote Board to its portfolio of customers using Cipherpoints sensitive data discovery and protection products.

The company received its first purchase order from its US partner MA Polce, a New York-based information technology solutions and managed services provider in August 2020.

MA Polce will deploy the companys cp.Protect product as an embedded technology offering into their hosted Managed IT services environment.

Cipherpoint has also entered into two co-development agreements with Sydney-based Haventec and Melbourne and Brisbane-based Biarri.

Cipherpoint will use Haventecs suite of patented technologies (APIs) for securing digital identities and for protecting sensitive data from theft or misuse, to identify and then develop a solution to intensify the security around the encryption keys used to protect sensitive data.

This is to deepen Cipherpoints cp.Protect suite of solutions by addressing the performance and functional limitations arising from the bring your own key (BYOK) and hold your own key (HYOK) solutions currently in the market.

Cipherpoint has also enlisted Biarris team of mathematicians to evaluate the next-generation data discovery and classification algorithms that can improve Cipherpoints cp.Discover suite of solutions.

The focus will be on addressing existing limitations on the ability to read and classify files that do not contain text.

This will cover improving existing OCR tools plus using AI-based image recognition to feed the classification process.

Biarri is a leader in building custom optimisation solutions with powerful mathematical and predictive modelling.

California State University contract renewal


Cipherpoint has also had its contract renewed with California State University (CSU) for its cp.Protect and cp.Discover products plus services.

CSU has been a customer since 2015 and is the largest four-year public university system in the US, with over 47,000 staff and more than 481,000 enrolled students.

CSU has upgraded to Cipherpoints new version of cp.Discover and extended its use into their SharePoint online and file server environments.

The contract renewal value is about $51,000 for a further term of 12 months.

Fundraising to accelerate strategic priorities


In August 2020, Cipherpoint launched a partly underwritten non-renounceable entitlement issue of one new share for every two existing shares held by shareholders to raise up to around $2.321 million before costs.

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Australia

Indoor dance floors banned, Victorian government to mandate booster shots for workers in high-risk sectors

The Victorian government has announced deadlines for when workers in certain high-risk settings must have received a third dose of a COVID vaccine under a new vaccine mandate to be approved on Monday.

Indoor dance floors at hospitality and entertainment venues will also be closed from 11:59pm on January 12 in an attempt to limit the spread of the Omicron variant.

Indoor dancing at weddings will still be permitted, however, Victorian officials have urged attendees to take it outside.

Health Minister Martin Foley announced the “sensible” measures on Monday, saying they came in response to a “profound” rise in the number of people in hospital with COVID and soaring case numbers across the state.

Victoria reported 34,808 new cases on Monday alongside two additional deaths as the number of people in hospital rose to 818, up from 491 in the previous week.

The booster shot will be mandated for workers in the following settings:

  • Healthcare
  • Aged care
  • Disability care
  • Emergency services
  • Correctional facilities
  • Hotel quarantine
  • Food distribution including manufacturing, warehousing and transport
  • Abattoirs, meat, poultry and seafood processing

“All of these groups are already covered by existing mandates for those first two vaccinations, and this is a sensible addition for the relatively high-risk nature that these sectors operate when it comes to vaccine protection and of course their critical contribution to keeping Victoria operating,” Mr Foley told reporters.

He said he expected to sign-off on the new mandate on Monday afternoon.

The booster mandate has not yet been extended to supermarket and retail workers, with further announcements on additional workers to be made in the future, the Health Minister confirmed.

If eligible to receive a third dose of a vaccine on or before January 12, the impacted workers must receive a third dose by February 12 or show proof of a valid medical exemption from the vaccine in order to keep working.

If by January 12 some workers are not yet eligible they will have a window of three months plus two weeks to receive a third dose.

This means that all residential aged care workers will be required to get their third jab by March 1 – as the pre-existing mandate requires the second dose to have been received by November 15, 2021.

All disability, quarantine, correctional facility, emergency services, abattoir, meat, poultry and seafood workers will need to have their third dose of a vaccine by March 12 – with the deadline for the second dose coming into effect on November 26.

Healthcare workers must have received three doses of a vaccine by March 29 – with the cutoff for the second dose set for December 15.

Victorians have also been advised to work from home where possible.

The changes to restrictions come a day after Premier Daniel Andrews announced the pandemic declaration would be extended by three months – after it was due to expire on January 15.

“Extending the pandemic declaration ensures we are able to put the measures in place to slow the rate of transmission and protect the community’s health and our health system,” Mr Andrews said in the statement.

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Alice Queen’s strong drill results reveal potential to extend Horn Island gold resource

Alice Queen Ltd (ASX:AQX) has received consistent gold results in resource extension drilling at the 100%-owned component of Horn Island Gold Project in Torres Strait, Queensland, with potential to increase the current inferred resource.

Six diamond drill holes for 1,356 metres were completed to test a strike length of around 230 metres, with all holes returning zones of greater than 0.5 g/t gold mineralisation.

The furthest intercept is about 100 metres south and down dip from the previous drilling which informs the current Horn Island inferred resource of around 500,000 ounces.

This resource and adjacent area is excluded from the company’s joint venture with St Barbara Ltd (ASX:SBM), is retained solely by Alice Queen and is able to be further progressed independently from the JV.

“Consistent results”
The drilling tested a section of the Tatooine Dipole Dipole Induced Polarisation (DDIP) chargeability target and indicates this anomaly is associated with mineralised gold-bearing sh..

Alice Queen Ltd (ASX:AQX) has received consistent gold results in resource extension drilling at the 100%-owned component of Horn Island Gold Project in Torres Strait, Queensland, with potential to increase the current inferred resource.

Six diamond drill holes for 1,356 metres were completed to test a strike length of around 230 metres, with all holes returning zones of greater than 0.5 g/t gold mineralisation.

The furthest intercept is about 100 metres south and down dip from the previous drilling which informs the current Horn Island inferred resource of around 500,000 ounces.

This resource and adjacent area is excluded from the company’s joint venture with St Barbara Ltd (ASX:SBM), is retained solely by Alice Queen and is able to be further progressed independently from the JV.

“Consistent results”

The drilling tested a section of the Tatooine Dipole Dipole Induced Polarisation (DDIP) chargeability target and indicates this anomaly is associated with mineralised gold-bearing sheeted and stockwork veining.

Alice Queen managing director Andrew Buxton said: “It is very encouraging that our recent drilling to test the extensions to our existing resource continues to deliver consistent results and we are hopeful that this may potentially add further tonnes and ounces to our resource in the future.

“The extension drilling confirms that the mineralisation remains open towards the south and northwest.

“This is coincidental with the overall trend of the Tatooine anomaly that extends into the St Barbara JV area.”

Mineralisation remains open towards the south and northwest, coincidental with the overall trend of the Tatooine DDIP CHG anomaly and covers a total area of around 1 square kilometre.

Best gold intercepts from recent diamond drilling.

Ongoing exploration programs

The St Barbara JV diamond drilling program is in progress across the section of the Tatooine DDIP anomaly contained within the JV and will shortly begin at the Naboo DDIP target.

Buxton said: “Simultaneously to Alice Queen carrying out drilling in the excluded areas of the JV, St Barbara has also commenced drilling, so we are effectively hitting this target from both sides.

“With future RC infill drilling planned, it is key to remember that the existing Horn Island inferred resource could be increased both by volume and ounces from either or both of the two (the exclusive Alice Queen and the St Barbara JV) programs currently being carried out.”

Infill RC drilling at the current Horn Island inferred resource excluded area will commence in late November to progress resource definition activity.

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Great Southern sets development pathway for Mon Ami gold operation

Great Southern Mining Ltd (ASX:GSN) has set a development pathway for gold operations at Mon Ami in Western Australia after completing an in-house preliminary economic evaluation of the potential for an open-pit development.

Results are sufficiently positive for the company to initiate the full suite of requisite preliminary activities targeted at obtaining a mining approval under the Mining Act 1978 (WA) in 2021.

This progression towards development is expected to add significant underlying value to Mon Ami and the company’s gold strategy.

Development of the deposit offers a potential source of cash flow for ongoing funding of aggressive exploration plans across the gold portfolio – including Cox’s Find, at depth at Mon Ami and the Edinburgh Park Gold Project in North Queensland.

Testing high-grade extensions
Great Southern Mining chief executive officer Sean Gregory said: “We are pleased to announce that our in-house preliminary economic review has identified a potential low-cost..

Great Southern Mining Ltd (ASX:GSN) has set a development pathway for gold operations at Mon Ami in Western Australia after completing an in-house preliminary economic evaluation of the potential for an open-pit development.

Results are sufficiently positive for the company to initiate the full suite of requisite preliminary activities targeted at obtaining a mining approval under the Mining Act 1978 (WA) in 2021.

This progression towards development is expected to add significant underlying value to Mon Ami and the company’s gold strategy.

Development of the deposit offers a potential source of cash flow for ongoing funding of aggressive exploration plans across the gold portfolio – including Cox’s Find, at depth at Mon Ami and the Edinburgh Park Gold Project in North Queensland.

Testing high-grade extensions

Great Southern Mining chief executive officer Sean Gregory said: “We are pleased to announce that our in-house preliminary economic review has identified a potential low-cost development pathway for an open-pit mining operation at Mon Ami.

“The planned drilling program seeks to expand on this opportunity and test for higher grade extensions to the deposit at depth.

“Rapid development at Mon Ami has the potential to deliver a robust source of cash flow for GSN, allowing the further acceleration of the aggressive exploration plans across our Australian gold portfolio.”

Near-surface high-grade gold hits

Recent drill results at Mon Ami included several near-surface high-grade results – 11 metres at 7.9 g/t gold from 26 metres including 4 metres at 15.9 g/t and 4 metres at 12.4 g/t from 80 metres.

Initial technical studies have been scoped at the project to support a mining approval and include a review of the existing drill core and optical televiewer data by the company’s geotechnical consultants to recommend pit design parameters.

GSN believes that the high grades could extend to depth in an analogous fashion to the Ida H deposit 14 kilometres to the north of Mon Ami along the same regional shear zone, the Barnicoat Shear.

Upcoming drilling

The metallurgical characteristics of Mon Ami were tested in 2018 where the recoveries averaged 95% in the fresh and transitional rock, which will be the focus of any open pit development.

The maiden inferred resource of 1.1 million tonnes at 1.7 g/t for 59,000 ounces was estimated in 2018 and since then 2,073 metres of reverse circulation (RC) drilling has been conducted with further drilling is planned.

As a part of upcoming drilling, GSN plans to upgrade the resource to the indicated status based on an improved understanding of the deposit from the quality assured drilling and improved confidence around modifying factors.

Drill rig secured

The company has secured the services of its preferred RC drilling contractor to resume drilling operations at Laverton from the first week of December 2020.

Drilling will test these targets at Mon Ami as well as the targets at Cox’s Find.

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