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ChemX Materials Ltd (ASX: CMX) (ChemX or Company), an Australian based high purity critical materials business, is pleased to present its March 2023 quarterly report.
- Manganese exploration campaign on Eyre Peninsula, South Australia completed targeting maiden JORC compliant Mineral Resource Estimate (MRE)
- ChemX appoints new Chief Executive Officer, Non-Executive Chairman and Non-Executive Director positioning Company for growth.
- Metallurgical testing continuing and flow sheet development to produce battery grade manganese sulphate.
- MoU signed with lithium-ion battery leader C4V to enter qualification for battery grade manganese.
- High Purity Alumina (HPA) advanced with Pilot Plant detail design commenced.
The Company is developing High Purity Manganese (HPM) on the Eyre Peninsula in South Australia along with its High Purity Alumina (HPA) Project in Perth, Western Australia.
ChemX CEO Mark Tory commented: “The Company has undergone significant change and progress during the March quarter with the business positioned for growth. The completion of the 2023 Manganese exploration drilling campaign will likely lead to establishment of the Company’s maiden Mineral Resource. Laboratory scale test-work is continuing on the flowsheet for HPM, with the aim to build a pilot plant to test the flowsheet in 2024. Optimisation work is also continuing on the HPA micro-plant in O’Connor, Western Australia and work has commenced on detailed design for the HPA Pilot Plant.
The establishment of the MoU with Lithium-Ion Battery Leader C4V demonstrates the global potential of our projects and market interest to begin the important qualification process in the battery industry. The Company is progressing discussions with a range of parties to pursue qualification for its high purity materials for inclusion in the global battery supply chain."
Manganese Exploration
During the quarter the Company completed a drilling campaign of 6,164m reverse circulation drilling (RC). This campaign was designed to infill the drill spacing over the northern-most 2km strike of the Jamieson Tank deposit for the purpose of estimating a maiden JORC compliant Mineral Resource. ChemX initiated the accelerated development program of the Manganese assets in response to changing market dynamics generated by the United States Inflation Reduction Act (IRA) and changing lithium-ion battery chemistries which are requiring increasing amounts of manganese in order to develop enhanced energy density, improve battery stability, faster charge times and lower costs.
PERLINK Figure 1: Jamieson Tank drill hole and Exploration Target location plan
Downhole geophysics was employed to derive an in-situ density and support the Mineral Resource estimation. In addition, multiple geophysical techniques were used to complement the geological interpretation of Jamieson Tank and improve the geological continuity which was identified as a risk in the Exploration Target.
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This article includes content from ChemX Materials, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
CMX:AU
Streamplay Studio Enters into Agreement to Acquire North American Indie Gaming Leader, Noodlecake Studios
HIGHLIGHTS
- Streamplay expands global reach and direct-to-consumer gaming presence across North America with acquisition of Noodlecake.
- Established in 2011, Noodlecake boasts a proven track record with a variety of over 60 in-house and published games achieving over 270 million downloads.
- Noodlecake has over its history generated over ~A$42 million through primary monetisation channels, with additional revenue from other sources.
- Noodlecake averaged annual revenue of ~A$7.3 million and EBITDA of ~A$1.8 million over the 3 years ending 31 December 2023.
- Noodlecake’s lean, high-impact operating model, maximises publishing reach with a focused team and global collaborations.
- Established partnerships with leading Tier 1 brands such as Apple, Google, Xbox, PlayStation, Nintendo, Steam and more.
- Provides Streamplay with immediate product and geographic revenue diversification via Noodlecake’s flexible publishing and monetisation strategies (premium sales, in-app purchases, advertising, and subscription-based models).
- Strengthens global expansion opportunities, including continued collaborations with Zplay in the Chinese gaming market.
About Noodlecake
Founded in Canada in 2011, Noodlecake is an established, reputable and profitable indie game studio and publisher. With a diverse portfolio of over 60 games listed across more than 10 storefronts and available in over 45 countries, Noodlecake has engaged players worldwide with award-winning content, achieving over 270 million downloads to date.
Since incorporation, the studio has generated significant revenue through its multifaceted monetisation strategy, including over A$15 million in in-app purchases, over A$9 million in direct game sales, and over A$18 million in advertising revenue, alongside other significant sources.
These revenues are strategically driven by the studio’s presence on major digital storefronts such as the Apple App Store, Google Play, Steam, and Nintendo Switch. Noodlecake’s adaptability to emerging opportunities is evident in its recent expansions into Xbox and PlayStation, with future releases targeting premium storefronts and subscription platforms.
Noodlecake boasts an impressive track record of publishing award-winning titles that have captivated both players and critics alike. Among its successes, “Yes, Your Grace” recently won Best Indie Game on Google Play for 2024,1 showcasing their ability to support compelling and engaging indie experiences. “Golf Blitz”, an innovative multiplayer spin on the classic golf genre which was developed inhouse, earned critical acclaim and was featured as an Editor’s Choice by Apple in 2019.2 Additionally, “Alto’s Odyssey”, another title published by Noodlecake, received an Apple Design Award in 20183 for its exceptional artistry and gameplay.
Their games employ a range of revenue models tailored to each platform. Premium titles generate revenue through direct purchases, while free-to-play games monetise via in-app purchases and targeted ads.
Additionally, Noodlecake has a history of securing exclusive, curated partnerships with Apple Arcade, Google Play Pass, and Xbox Game Pass which provide consistent revenue through subscription-based engagement.
The studio’s upcoming game, “Winter Burrow”,4 set for release on Xbox Game Pass, Xbox storefront, Switch and Steam, early in 2025, is just one example of how Noodlecake leverages these partnerships to generate stable, upfront revenues.
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This article includes content from Streamplay Studio, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Next-generation Hadrian X® Completes US Site Acceptance Testing
Highlights
- FBR receives confirmation from CRH Ventures that first next-generation Hadrian X® successfully completes Site Acceptance Testing at Fort Myers facility in Florida
- Confirmation received from an independent structural engineer that the structure is consistent with design requirements and meets applicable building standards
- FBR to receive next tranche of non-refundable payment from CRH Ventures of US$600,000 under Demonstration Program agreement
- Construction of the first house in the Demonstration Program to commence shortly
An independent structural engineer provided confirmation that the walls of the test build were consistent with the design and met applicable building standards.
Completion of Site Acceptance Testing triggered a US$600,000 payment by CRH Ventures to FBR and the commencement of the Demonstration Program. The Demonstration Program requires FBR to construct the external walls of five to ten single-storey houses utilising the next-generation Hadrian X®. The Demonstration Program will commence shortly.
The Demonstration Program will be deemed complete when FBR completes construction of its five houses plus up to five houses added to the program by CRH Ventures, with all houses to be certified by an independent structural engineer. Upon completion of the Demonstration Program, FBR will receive a payment of US$400,000 from CRH Ventures under the Demonstration Program agreement. The completion of the Demonstration Program also marks the commencement of a 45-day period for CRH Ventures to exercise the option to form a joint venture for the delivery of Wall as a Service® in the United States.
This announcement has been authorised for release to the ASX by the FBR Board of Directors.
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This article includes content from FBR Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.