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ChemX Materials Ltd (ASX: CMX) (ChemX or Company), an Australian-based high purity critical materials business, is pleased to announce the third and final stage assay results from the 2023 Jamieson Tank Manganese drilling campaign on the Eyre Peninsula in South Australia.
- Final 25 drill hole results received. All results from the 94 holes now received on Jamieson Tank for a total of 6,164m.
- Significant manganese intercepts continue near surface and at depth.
- Maiden Mineral Resource estimate planned for June 2023.
The 2023 manganese exploration campaign was designed to collect additional infill drill data, supplemented by industry standard geophysical density and QAQC practices, to underpin the estimation of a maiden Mineral Resource.
The manganese grades achieved from the third stage assay batch (including 16m thickness at 17.9% Mn from 17m) are highly encouraging and based on previous metallurgical testwork (ASX 11 May 2022), indicate the manganese mineralisation is highly amenable to upgrade via beneficiation and conversion to a High Purity Manganese (HPM) battery grade product.
This third and final round of assay results reveal significant manganese intercepts near surface and extending to depth, as displayed in table A and illustrated in Figure 1. Full drill hole assays are displayed in Appendix 3.
Table A: Significant Intercepts
The significant intercepts (averaged from 1m samples) have been reported from raw assays of a minimum of 8% Mn and 2m thickness. The significant intercepts are from a total of 1756 sample assays returned from 94 drill holes.
CEO Mark Tory commented: “These final results complement previous drilling results and demonstrate encouraging intervals of sustained manganese grades commencing from relatively shallow depth. With the first 10m consisting of a sandy overburden and therefore indicates free-dig, it is likely to be relatively simple mining.
ChemX is extremely pleased with the 2023 drill campaign results and will now work closely with ERM Australia Consultants Pty Ltd, trading as CSA Global to estimate a Mineral Resource in accordance with the JORC Code. The Mineral Resource estimation (MRe) will support future preliminary mine optimisation plans and provide confidence in the quality and quantity of the feedstock, for the beneficiation of the manganese resource, ultimately destined for the global battery grade manganese market.”
Figure 1: Jamieson Tank cross-section 6297000 mN, in the southern strike area
Chief Supervising Geologist for the CMX Drill Campaign, Dr John Parker commented: “The higher- grade manganese, as depicted above in a schematic cross section, (figure 1) has been interpreted from field geological activities, and occurs as continuous bands in a relatively shallow, folded sequence of banded iron formation. The zone of shallow high-grade mineralisation presents initially ca. 200m wide and extends over 2km in strike length.” Ongoing geological modelling, complemented by geophysics, geological logging and assays, will support the planned Mineral Resource estimate.
The Jamieson Tank Drill hole location map is shown below in figure 2. The exploration campaign covered the northern most 2km of the Jamison Tank deposit. Jamieson Tank has been subject to significant exploration by previous tenement owners (ASX 27 July 2022) with the aim of identifying DSO manganese. ChemX’s programme was designed to estimate a Mineral Resource in order to provide material for a High Purity Manganese project to supply the global electric vehicle battery market.
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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.