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ChemX Materials Ltd (ASX: CMX) (ChemX or Company), an Australian based high purity critical materials developer, is delighted to announce a maiden resource on its 100% Company-owned Jamieson Tank deposit, located 150km from the infrastructure rich Port of Whyalla, South Australia.
- Maiden Mineral Resource 13.1 Mt at 5.7% Mn established with recent drilling program
- Significant potential upside with ~70% of the identified Jamieson Tank strike awaiting further extensional drilling of high grade, near surface targets
- Testwork shows the shallow resource has excellent upgrade characteristics
- Experienced global engineering firm Wood appointed to lead internal scoping study on high purity manganese battery grade products
- Manganese raw material demand set to double in next three years1
CEO Peter Lee commented:
“ChemX is pleased with the delivery of this maiden Mineral Resource Estimate (MRE) for the Jamieson Tank manganese deposit, the first of four manganese prospects within the South Australian 100%-owned tenements, and today represents a key milestone for the company’s shareholders.
“Importantly, the company expects to grow the mineral resource in grade and scale following the planned summer 2023/24 drilling program.
“This Mineral Resource defines a solid foundation for further strategic project advancement including internal scoping studies and mine optimisation plans, supported by the development of high purity manganese sulphate products for the global battery market. These studies will be supported by Wood (internal scoping study) and CSA Global (mine optimisation plan).”
MAIDEN MINERAL RESOURCE ESTIMATE FOR NEAR SURFACE DEPOSIT
ChemX has worked closely with ERM Australia Consultants Pty Ltd (trading as CSA Global) to execute an extensive (+6,000m) infill Reverse Circulation (RC) program delivering the following maiden Mineral Resource Estimate (MRE), reported in accordance with the JORC 2012 Code.
Table A: Mineral Resource estimate (MRE) summary, with applied grade cut-off 4%Mn
Testwork has demonstrated excellent upgradability through gravity and magnetic separation and ChemX is moving swiftly to execute a follow up drill program to bolster this maiden Mineral Resource Estimate.
Initial holes intersected high grade zones of +20% Mn in the following drill holes.
Table 2 – High grade intersections (from a total of 94 RC drill holes for 6,173, see full assay data, ASX 9 May 23, 27 Apr 23, 17 Apr 23)
SOUTH AUSTRALIA - INFRASTUCTURE RICH
The project is well positioned to take advantage of world-class regional infrastructure including sealed roads, rail networks, port operations, grid-power and an emerging renewable energy hub in Whyalla. ChemX has commenced an internal scoping study for the evaluation of the full High Purity Manganese (HPM) project including a possible hydrometallurgical facility in Whyalla supported by a skilled residential workforce and associated infrastructure.
WORLD CLASS BATTERY DOWN-STREAM OPPORTUNITY FOR SOUTH AUSTRALIA
ChemX seeks to develop South Australian sourced Manganese into a world-class HPM product for use within global battery supply chains, particularly Electric Vehicle (EV) markets. This will require a Beneficiation Plant, likely to be located in the Central Eyre Peninsula region and also a Hydrometallurgical facility, currently proposed to be located in Whyalla. It is envisaged both operations will create significant employment within a burgeoning Critical Minerals and High Purity Materials industry in South Australia.
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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.