Annual Report 2014

Download PDF

Subscribe to Recieve Email Updates

Vertical Tabs

Latitude Consolidated Limited

Latitude Consolidated Group Limited (ASX:LCD) is an Australian Listed Mining and Exploration Company.

 

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

Latitude is actively exploring its prospective flagship 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

Dromana Estate, Fortescue Metals Group among Tuesday’s ASX Volume Leaders

Tuesday’s leading ASX Volume Stocks by the close.

NameCodeLastChangeVolume
Dromana Estate ASX:DMY $0.001 0% 136,965,004
Fortescue Metals Group ASX:FMG $2.08 -2.3% 39,341,530
FAR Limited ASX:FAR $0.097 19.8% 33,825,387
Resmed Inc ASX:RMD $8.38 7.4% 33,318,544
Arrium Limited ASX:ARI $0.185 -9.8% 32,065,169
Vortex Pipes ASX:VTX $0.014 7.7% 29,046,153
Senetas Corporation ASX:SEN $0.072 -5.3% 28,401,766
Boulder Steel ASX:BGD $0.01 25% 27,193,722
Telstra Corporation ASX:TLS $6.44 1.6% 26,807,433
Lynas Corporation ASX:LYC $0.05 -19.4% 24,553,528

 

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.

Liquefied Natural Gas Ltd shares climb 60% in two weeks

Liquefied Natural Gas Limited (ASX:LNG, OTC ADR:LNGLY) shares have climbed nearly 60% in the past two weeks to an intra-day high of $3.19 today from $2.00 on 12 January 2015. Shares closed up 16.4% to $3.05.

The company has made substantial progress recently with the United States Patent and Trademark Office allowing the patent application for its core OSMR® LNG processing design.


Magnolia LNG project, Lake Charles, Louisiana


At its Magnolia LNG project, the company continued to progress with the U.S. Federal Energy Regulatory Commission (FERC) all necessary permits and approvals for the development of the Magnolia LNG project, which included responses to various anticipated engineering data and environmental information requests. 

It has also reached an engineering, procurement and construction (EPC) contract containing fixed and provisional sums agreed with SKE&C USA, Inc. (SKEC).

Total capital cost for the planned 8 million tonnes per annum (Mtpa) project remains as previously stated on 24 February 2014 at US$3.5 billion, equating to US$440/tonne.

In January, Magnolia LNG also executed a memorandum of understanding with Kellogg Brown & Root LLC, a wholly owned subsidiary of KBR, Inc. (KBR) and SKEC.

Under the MoU, whereby KBR and SKEC propose to execute a joint venture agreement on a 70/30 percent participation basis to deliver the 8Mtpa four train Magnolia LNG Project.

KBR will be the leader of the EPC Contract.

Negotiations are continuing with all four proposed tolling parties and several others.

Magnolia LNG remains on schedule for financial close in mid-2015 and first LNG in the fourth quarter of 2018. 


Bear Head LNG Project, Nova Scotia, Canada


Bear Head LNG has filed for modifications to the existing construction and environmental permits granted by the Nova Scotia Utility and Review Board and Nova Scotia Environment.

The company also announced the expansion of the initial facility production capacity to 8Mtpa from 4Mtpa. 

Bear Head LNG has filed an application with Canada’s National Energy Board (NEB) for an export license for up to 12Mtpa per year of LNG.

LNG Ltd also filed an application with the US Department of Energy (DOE) for authorisation to export natural gas to Canada for a 25-year period.


Fisherman’s Landing LNG Project, Gladstone, Queensland


Gladstone Ports Corporation Limited extended the Option to Lease until 31 March 2015, with an option to extend to 31 March 2016.

LNG Ltd has also signed a non-binding memorandum of intent (MOI) for gas supply with Tri-Star Petroleum Company (Tri-Star). Tri-Star has certain gas tenures in Queensland, which could supply gas to FLLNG.

The Tri-Star MOI involves FLLNG processing Tri-Star’s potentially significant gas reserves to produce 1.5Mtpa of LNG over a 20-year term.

This gas supply would support FLLNG development to proceed with the first LNG train of 1.5Mtpa.



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.

Doray Minerals eyes 90% of Mutiny Gold

Doray Minerals (ASX:DRM) has received acceptances for 88.15% of takeover target Mutiny Gold (ASX:MYG).

In late October 2014 when the deal was announced, this valued Mutiny shares at $0.054, or an enterprise value of $44 million.

Mutiny last traded at $0.05, with Doray at $0.49.

The companies have said that the merger with create a leading, mid-tier high-grade Western Australian gold company with substantial growth prospects.

This includes forecast annualised production of around 160,000 gold equivalent.

 

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.

Carpentaria Exploration’s Hawsons Iron Project can plug into existing power grid

Carpentaria Exploration (ASX:CAP) has completed a study confirming the ability of its Hawsons Iron Project in New South Wales to plug into the existing power grid with only limited network upgrades.
   
Additional studies may also identify areas to optimise the connection arrangements and therefore lower the cost.

In addition, the company will explore the opportunity for this capital cost to be recovered through annual network charges, resulting in no additional upfront capital cost to the project.


Power Study


The study by network owner TransGrid concluded that existing poles and wires, plus the introduction of new voltage support, substation augmentation and communication systems, can more than support the delivery of the 120 megawatts required by the project.

A total of $43.7 million of network upgrades will be required, based on preliminary advice.

The main power upgrade item, comprising over 95% of the total cost, is directed to ensuring that the voltage impacts to the rest of the grid caused by varying load at Hawsons are acceptable.

The estimated time to complete these works is 46 months though there is potential to accelerate the delivery schedule.


Hawsons Iron Project


The Hawsons Iron Project joint venture (Carpentaria 60%, Pure Metals P/L 40%) is currently undertaking a bankable feasibility study based on the low cost, long term supply of a high grade, ultra-low impurity iron concentrate to a growing premium iron market.

The project has a clear technical and permitting pathway.

It is located 60 kilometres southwest of Broken Hill, an ideal position for mining operations with existing power, rail and port infrastructure available for a conceptual 10 million tonne per annum start-up operation. A mining lease application has been lodged.

The project’s soft rock enables simple liberation of a premium magnetite product without complex and expensive processing methods.

Hawsons is underpinned by Inferred and Indicated Resources totalling 1.8 billion tonnes at 15% mass recovery for 263 million tonnes of concentrate grading at 69.7% iron.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

OnCard International may launch distribution to shareholders

OnCard International (ASX:ONC) has been granted an ASX trading halt in relation to a potential distribution to its shareholders.

The halt will last until the earlier of the announcement being made or the commencement of trade on Thursday, 29th January 2015.

Last week, it revealed its decision to exit its residual Chinese businesses, Buffet Club and Enjoy Shanghai.

The divestment should be completed by June 2015.

The company has cash or cash equivalents totalling $57.2 million as at 31st December 2014.

 

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.

Hill End Gold, New Talisman Gold among ASX % Gainers intra-day

Tuesday’s ASX % Gainers intra-day.

NameCodeLastChangeVolume
Hill End Gold ASX:HEG $0.004 33.3% 800,200
Crest Minerals ASX:CTT $0.004 33.3% 1,100,000
Sihayo Gold ASX:SIH $0.013 30% 55,000
Brain Resource ASX:BRC $0.27 25.6% 389,444
Boulder Steel ASX:BGD $0.01 25% 313,722
Ram Resources ASX:RMR $0.005 25% 50,000
New Talisman Gold Mines ASX:NTL $0.01 25% 38,849
Athena Resources ASX:AHN $0.012 20% 40,000
IMX Resources ASX:IXR $0.012 20% 155,000
Minquest Limited ASX:MNQ $0.02 17.6% 30,000

 

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.

Iron falls to greater than five-year low

Iron ore prices have fallen to their lowest level in more than five years on slower growth in China while miners continue to add supply.

Ore with 62% content delivered to Qingdao, China, was down 4.3% to US$63.54 a dry metric ton.

China had recorded official growth of 7.4%, well above all other major economies, but down from the 7.7% growth of 2013 and the double-digit levels achieved as recently as 2010.

Meanwhile, major miners such as BHP Billiton (ASX:BHP) and Rio Tinto (ASX:RIO) continued to boost low cost output.

Steel mills in China are also cutting output before the Lunar New Year holiday next month.

Adding to the downward pressure, Goldman Sachs has forecasted that prices may average US$66 a ton this year, down from an earlier prediction of US$80.

 

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.

Chinese stocks rise to five-year high

Chinese stocks have risen for a fifth straight session to a five-year high as technology companies advanced on speculation they will benefit from increased defence spending.

Stocks in Hong Kong have also climbed to a three-year high after the preliminary HSBC/Markit purchasing managers’ index rose unexpectedly to 49.8 in January.

The Shanghai Composite Index (SHCOMP) gained 0.9% to 3,383.18 at the close yesterday, the highest level since 5 August 2009.

This followed the official Xinhua News Agency reporting China’s Communist Party as saying that “some of the security challenges and risks are unpredictable so the country must always be mindful of potential dangers”.

The statement is seen as a sign China is preparing to intensify its acquisition of sophisticated equipment for its military.

However, other gauges of investor enthusiasm are negative.

Turnover was down 47% from its peak in December, while new equity account openings fell 50% and purchases using borrowed money dropped 38%. The number of stocks reaching new 52-week highs has declined 75% in the past six weeks.

In Hong Kong, the Hang Seng China Enterprises Index (HSCEI), or H-shares gauge, climbed 1.8% to 12,260.06 at the close.

 

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.

Carbine Resources to reveal offtake agreement

Carbine Resources (ASX:CRB) is poised to reveal details of a by-product offtake agreement for the Mount Morgan Gold and Copper Project in Queensland.

Carbine has recently completed a Scoping Study over proposed operations at the Project, defining a minimum 8 year mine life at a processing capacity of 1Mtpa, producing 36,000oz/yr of gold at All-in Sustaining Costs of US$393/oz.

The operations are also projected to deliver 850tpa of copper and 230,000tpa of high grade pyrite as by-products.

The ASX has granted the company a trading halt, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Thursday 29th January 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.