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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 first stage assay result from the 2023 Jamieson Tank Manganese drilling campaign on the Eyre Peninsula in South Australia.
- 39 of 94 drill hole results received on Jamieson Tank drill campaign of 6,164 metres completed
- Significant manganese intercepts near surface
- Downhole geophysics completed
- Maiden Mineral Resource estimate planned by June 2023
- Company is continuing with its strategy of High Purity Manganese product destined for the global battery market.
Figure 1: RC drill rig on location at Jamieson Tank in South Australia
The Manganese grades achieved including 6m (thickness) at 18.5%Mn from 9m are highly encouraging based on previous metallurgical testwork (ASX 11 May 2022) which indicated the ore is highly amenable to upgrade via beneficiation and conversion to a High Purity Manganese, battery grade product.
In early 2023, ChemX undertook a manganese exploration programme of 94 reverse circulation percussion (RCP) drill holes for a total of 6,164 metres. The programme infilled the drill spacing over the northern most 2km strike of Jamieson Tank for the purpose of estimating a Mineral Resource. Downhole geophysics was employed to derive in-situ density and support the Mineral Resource estimation and complement the geological interpretation of the Jamieson Tank manganese deposit.
The initial assay results reveal significant manganese intercepts near surface and are displayed in table A, with full drill hole assays 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 10% Mn and 3m thickness. The significant intercepts are from a total of 2304 sample assays returned from 94 drill holes. Assays from the remaining 55 drill holes are pending.
The initial drilling results build on previous exploration success from the 2022 exploration campaign as the Company moves forward with its High Purity Manganese development strategy.
CEO Mark Tory commented: “ChemX is excited with the first results from the recently completed drilling campaign. The results which will go towards the maiden Resource Estimation, which will be used to support the potential to achieve a beneficiation plant feed of manganese, ultimately destined for the global battery grade manganese market. Noting the shallow depths for much of the mineralised intercepts gives confidence to swift accessibility on potential future mining endeavours. Further assay results from the exploration campaign are pending and will be released to the market progressively.”
In addition to Jamieson Tank Manganese deposit, ChemX has identified further Manganese prospects at Bunora West, Hodgins, Windyzell, Francis and Polinga (ASX 27 July 2022).
Click here for the full ASX Release
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.
Click here for the full ASX Release
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.
