Annual Report 2014

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Latitude Consolidated Limited

ACQUISITION OF YATANGO

On 24 March 2015, Latitude Consolidated Limited announced that it signed an agreement to acquire Yatango Pty Ltd, an international consumer services technology company.

Yatango is a customer focused, cloud based software, services and analytics platform that puts the consumer in control of their everyday spending and consumption needs across a range of everyday lifestyle services. Yatango has developed an integrated platform that harnesses the power of loyalty rewards, community, big data and machine learning.

Yatango has to date launched two product groups:

-          Yatango Mobile is a mobile network provider that puts members in control by allowing them to build their own mobile plan and pay for what they need on a no contract basis; and

-          Yatango Shopping is an e-commerce marketplace that partners with a wide range of sellers to deliver customers better pricing and choice on a wide range of lifestyle products, engineered as a social shopping experience.

 

Click Here for the full ASX announcement.

 

Michael Malone, Tom Alexander and John Mackay to join Yatango upon completion

Latitude Consolidated Limited is pleased to announce three new appointments to the Board, pending shareholder approval and completion of the transaction to acquire 100% of Yatango; Mr Michael Malone and Mr Tom Alexander as Non-Executive Directors, and Mr John Mackay as the Non-Executive Chairman.

Mr Mackay will join the Board as Non-Executive Chairman. John brings with him extensive experience as a Chairman and CEO of large publically listed companies as well as an intrinsic understanding of business, finance and general management experience.  Mr Mackay was founder, Chairman and CEO of ActewAGL, the first Australian company to bundle telecommunications with multi-utility products and services (electricity and natural gas). In addition, Mr Mackay serves on a number of boards for listed and unlisted companies including Non-Executive Chairman of SpeedCast Ltd. and ASX-listed property developer CIC Australia.

Mr Malone is an Australian telecommunications industry veteran. He brings considerable industry expertise, having founded iiNet and successfully led the company to list on the Australian Stock Exchange in 1999 and grow to a market capitalisation of $1.6bn today. In 2005, Mr Malone was awarded the lifetime achievement award by the Western Australian Information Technology and Telecommunications awards. 

Also joining the Yatango Board as Non-Executive Director is Mr Tom Alexander who founded and led Virgin Mobile in the United Kingdom (UK), the largest telecommunications company in the country. Mr Alexander is highly regarded in the industry and brings un-paralleled global mobile telco market experience with him. Mr Alexander has held CEO positions across three of the most powerful consumer brands in the sector; Everything Everywhere, prior to that Orange and Virgin.

Mr Alexander successfully listed Virgin Mobile in 2004 on the London Stock Exchange and spearheaded the merger of Orange UK with T-Mobile to form Everything Everywhere (EE) in 2010. Tom was also responsible for developing the world’s first SIM banking venture – a partnership between BT Cellnet and Barclaycard.  He is a non-executive director of Ebiquity Plc and has a network of contacts from private equity, major banks and sovereign wealth funds.  

For further information wtihin the full ASX release, click here.

 

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The Company is focused on exploring and developing high grade copper deposits in Zambia to generate value for shareholders.

Latitude is actively exploring its Kalengwa South Project and plans to grow its portfolio of quality exploration projects to become a major copper explorer and developer in Zambia.

Map of Kalengwa South Project Showing Prospect Areas and Historic Exploration Results

 

The Company also holds the Lyndon Base Metals project located in Western Australia.

Proactive Investors

Oakdale Resources finds more graphite on Eyre Peninsula

Oakdale Resources' (ASX:OAR) graphite Project on the Eyre Peninsula of South Australia, continues to bring good news as drilling has intersected graphite over 2 kilometres in four lenses.

These graphite lenses are up to 275 metres wide and average 100 metres wide over the 2000 metre length.

The thickness of the soft saprolitic, graphite bearing clays in the oxidised zone averages 18.9 metres.

Mineralisation is mainly within 50 metres of the surface with around 20 metres of overburden.

Drilling commenced on 11 March and over 6,469 metres of aircore drilling has been completed in 113 drill holes. Assay results have been received for 70 of these holes, totalling 835 samples.

Graphite grades intersected to date and reported have varied between 3.1% TGC to 7.8% TGC over thicknesses between 12 metres and 46 metres.

The consistency of the thicknesses is encouraging with thickness and grades of individual lenses assaying up to 11.4% TGC.

Earlier metallurgical test work carried out indicates the graphite should be able to be washed clean with little or no crushing.

This will significantly reduce capital and operating power costs of recovering the graphite while protecting the flake graphite.

The test work had demonstrated that in excess of 60% of the recoverable graphite is high value flake graphite.

With good continuity of the mineralisation continuing and all the assays received, Oakdale should be able to derive a maiden inferred resource of the current known mineralisation.

Diamond drilling is scheduled to commence on 9 June 2015 on four wide spaced holes to obtain metallurgical samples for testing to optimise the metallurgical recoveries of the graphite from the saprolitic soft clays.

Further air core drilling is scheduled to commence early in June at the Oakdale East prospect (approximately 3 kilometres east), where intercepts up to 15 metres of 10.2% total carbon in hole BLRC007 have been achieved in earlier shallow drilling.

The Oakdale share price has lifted to lofty heights from $0.007 to $0.15 since late 2014, but these results are encouraging.

 



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

 

Eneabba Gas to reveal Perth Basin acquisition

Eneabba Gas (ASX:ENB) has been granted a trading halt by the ASX pending details in relation to a Perth Basin project acquisition.

The company's current asset focus is on both conventional and unconventional, with a skew to previously drilled and tested conventional projects providing a level of risk mitigation.

The company had $2.5 million in cash at the end of March 2015.

The halt will last until the opening of trade on Tuesday 2nd June 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Renascor Resources heads to market

Renascor Resources (ASX:RNU) has been granted a trading halt by the ASX pending the release of capital raising details.

The company is focussed on the Eastern Eyre Project, which is located in the world class Olympic Dam Belt in South Australia.

The halt will last until the opening of trade on Tuesday 2nd June 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Triton Minerals transitioning from graphite explorer to developer

Triton Minerals' (ASX:TON) chairman Alan Jenks has reflected over the past year's progress at a meeting of shareholders in Perth.

Jenks said that Triton is now transitioning from an exploration company to a development company and beyond.

"This places Triton in a unique position amongst graphite companies, whereby it has the potential to become a vertically integrated enterprise from mining, to processing, to value-added material production."

A little over 18 months ago, Triton was embarking on a maiden exploration drilling program at Cobra Plains.

Triton can lay cliam to posessing the world’s first and fourth largest graphite resources at Nicanda Hill and Cobra Plains respectively, with flake distribution at Ancuabe.

In addition, it has a 20 year, 200,000 tonne per annum offtake agreement for TMG and the potential to become a vertically integrated graphite enterprise through implementation of the YXGC – Triton joint ventures in China and Mozambique.

The Nicanda Hill DFS work is progressing well and Triton is hopeful of releasing the results of the DFS before the end of 2015.

Further resource classification drilling is ongoing at Nicanda Hill, drilling at Ancuabe - with the aim of defining a maiden resource, metallurgical work in relation to TMG and vanadium, conducting pilot plant operations for TMG, test work in relation to spherical graphite and other enhanced graphite products and undertaking discussions with other potential end users.

Recent strategic alignments with AMG Mining (AMG) and YXGC are value drivers for the company.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

West Texas Intermediate ticks higher

West Texas Intermediate oil futures settled modestly higher overnight following a turnaround in the minutes leading up to the close as traders assessed a weekly U.S. government report showing that crude supplies fell but production rose.

July crude ticked up 0.3% to settle at US$57.68 a barrel on the New York Mercantile Exchange.

Data from the Energy Information Administration today showed crude oil inventories fell by 2.8 million barrels in the last week, compared with analysts' expectations for an decrease of 857,000 barrels.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

New York gold back in the green

Gold futures settled higher overnight on the Comex in New York, putting an end to a four-session streak of declines.

Gold for June delivery added 0.2% to settle at US$1,188 an ounce.

In other metals trade, July silver also added 0.1% to US$16.669 an ounce.

July platinum fell 0.2% to end at US$1,116 an ounce, while June palladium lost 20 cents to US$784.80 an ounce.

July copper finished nearly flat at US$2.7675 a pound.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

88 Energy confirms acreage award in Alaska

88 Energy (ASX:88E, LON:88E) has taken an important step forward as it prepares for its first well in Alaska.

The company this morning confirmed it has now formally been awarded the necessary documentation for the exploration acreage.

Joint venture partner Burgundy Xploration LLC, which was named the highest bidder for the project in November, has now received the award of 63 tracts of land, totalling 89,542 acres.

88 via its wholly owned subsidiary Accumulate Energy Alaska will have an 87.5% interest in the acreage, meanwhile Burgundy also retains a 4% royalty over any future production.

Accumulate will be the operator of the exploration project, and it is expected to be ‘on title’ in a matter of weeks.

Dave Wall, 88’s managing director, said: "Whilst the award and assignment process is largely administrative in nature, it is a crucial piece of the puzzle and another meaningful step forward for the company and its shareholders.”

“We look forward with great anticipation to the upcoming drilling of the Icewine #1 well prior to year end."

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Coretrack is Thursday's most traded stock

Coretrack was the most traded stock again on the ASX today.

CompanyCodeLastChangeVolume
Coretrack CKK $0.020 17.65% 247,819,507
Prima BioMed PRR $0.115 -8% 116,844,606
Env Clean Tech ESI $0.019 11.77% 83,615,454
South32 S32 $2.185 -3.11% 54,801,972
Spookfish SFI $0.068 19.30% 17,766,443
Coalspur Mines CPL $0.021 4.76% 15,889,835
88 Energy 88E $0.015 7.69% 15,361,259
Telstra TLS $6.150 -1.13% 15,321,549
Entellect ESN $0.001 0% 15,205,432
Peninsula Energy PEN $0.020 0% 13,556,593

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Brent on back foot due to stronger U.S. dollar

Oil prices were on the back foot again on Thursday as the US dollar strengthened, making crude more expensive, and as the market remains well supplied.

In London trading Brent crude was down 0.6% changing hands at US$61.70, while West Texas Intermediary futures were more than 1% lower.

Wednesday’s figures from the American Petroleum Institute revealed a weekly increase in the oil surplus, after three weeks’ of decline.

Traders now await the more closely followed Department of Energy inventory report to see whether there’s a repeat of the 1.3mln increase seen in the API stats.

It adds to the bear case that crude markets are simply too well supplied to justify the recent rally in both Brent and US prices.

Next week’s OPEC meeting will bring nothing but more of the same, according to analysts at Swiss bank UBS.

OPEC is scheduled to meet in Vienna on Friday June 5 and UBS analyst John Rigby reckons that the producer’s cartel will continue to defend its share of a clearly oversupplied crude market, rather than attempt to support prices with by reducing output.

“While OPEC again is facing continued oversupply, lower oil prices do appear to be having the intended effect of reducing investment by non-OPEC producers,” he said in a note.

“Thus, we see no reason for the GCC (Gulf Cooperation Council) members to shift their position and hence no change from OPEC.”

Excluding any unplanned outages Rigby expects OPEC will maintain ‘robust’ production levels, and he says this would imply crude prices are currently towards to top end of expectations, until the physical market really begins to tighten.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.