Annual Report 2014

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Latitude Consolidated Limited

PUBLIC OFFER PROSPECTUS

On 1 July 2015, the Company lodged a Prospectus with ASIC to raise a minimum of $6 million pursuant to the acquisition of Yatango.

To view a copy of the Prospectus please click here.

 

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

Fortescue Metals Group, Galicia Energy are Friday’s most traded

Friday’s leading volume stocks on the ASX.

NameCodeLastChangeVolume
Galicia Energy Corporation ASX:GAL $0.013 8.3% 43,634,473
Fortescue Metals Group ASX:FMG $1.855 -2.1% 43,507,725
RNI NL ASX:RNI $0.024 60% 37,831,695
Black Range Minerals ASX:BLR $0.003 50% 35,282,701
Sayona Mining ASX:SYA $0.038 40.7% 30,599,616
Aleator Energy ASX:AWD $0.014 40% 30,293,290
Stratum Metals ASX:SXT $0.021 -12.5% 29,882,162
Telstra Corporation ASX:TLS $6.49 0.6% 28,446,082
Sovereign Gold ASX:SOC $0.003 0% 26,897,501
South32 Limited ASX:S32 $1.785 -0.8% 20,857,150

 

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.

Thundelarra starts drilling at Allamber

Thundelarra (ASX:THX) has started drilling the Ox-Eyed Herring and Tarpon prospects at its wholly-owned Allamber Project in the Pine Creek region, Northern Territory.

It will also carry out a small 400 metre drilling program at its Copperfield Project, which is close to the district’s largest historical gold mine, Enterprise.

Enterprise and other various other small operations around Pine Creek produced more than 750,000 ounces of gold between 1985 and 1995.

At Allamber, the company has collared the first of five reverse circulation holes totalling 1,000 metres.

The program’s objectives are:

- To target extensions of the copper mineralisation already identified at Ox-Eyed Herring and Tarpon;
- To explore for possible feeders for that mineralisation; and
- To test gravity targets that are of interest, as several circular features are recognisable.

At Copperfield, the two planned reverse circulation holes will test copper and gold potential on two prominent shears with anomalous geochemistry, close to the old Enterprise Gold Mine.


Allamber Project

The wholly-owned Allamber Project is approximately 180 kilometres southeast of Darwin and is part of the Pine Creek Orogen.

It is very well served by regional infrastructure, with sealed road, rail, and a gas pipeline running within 25 kilometres of the project area.



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.

Newzulu Limited in halt ahead of major client licensing agreement

Newzulu Limited (ASX:NWZ) has been granted an ASX trading halt in relation to a major client licensing and usage agreement.   

In July, it signed licensing deals with two major Australian media companies, a partnership agreement with Russian national news agency TASS, and a licensing agreement with Vietnam’s Lasta Multimedia.

Newzulu has also reach agreements with Ooyala, Videoplugger and Gtres Online.

The halt will last until the earlier of the announcement being made or the start of trade on Tuesday, 4th August 2015.

 

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.

Axiom Mining technical review to guide West Guadalcanal exploration

Axiom Mining (ASX:AVQ) has completed a technical review of its West Guadalcanal Project in the Solomon Islands that include latest drilling which returned grades up to 7.85 grams per tonne gold.

The review was carried out over four regions that covered the Taho, Polo and Mount Tanjilli prospects.

Results from the 12 holes totalling 2,050 metres included:

- 7.7 metres at 1.05g/t gold and 13.87g/t silver from 19.6 metres;
- 7 metres at 0.69g/t gold and 28.43g/t silver from 32 metres; and
- 13.5 metres at 0.52g/t gold and 6.52g/t silver from 56 metres.

All targets were ranked by evaluating the geology, geochemistry, geophysics data as well as access to the prospect areas and identification of relevant landowner groups.

Future work programs will utilise this ranking and target those areas most likely to deliver an economic deposit.

Ryan Mount, chief executive officer, said:

“With momentum accelerating on our Isabel Nickel Project towards mine development by the end of the year, it was timely to undertake a technical review of the West Guadalcanal Project.   

“We interrogated our current datasets as well as historical works to provide a regional geological interpretation of merged datasets - this has helped us identify and rank prospects to provide focus for future exploration work.”


Drilling Details

Drill holes HVDD010 and HVDD011 collared in East Taho were designed to test the down dip extension of anomalous mineralisation in a trench with significant results (23 metres at 0.95g/t gold and 21.7g/t silver) and target the porphyry 60 metres east of drill hole HVDD003.

Both holes intersected mineralised breccias associated with sub-vertical arc-normal structures in proximity to diatreme breccia.   

HVDD011 was drilled 30 metres south of HVDD010 and reached a depth of 121.3 metres while HVDD010 was drilled to 162.6 metres - both holes reached final depth in the porphyry.

Grades of up to 7.85 g/t gold were intersected over 0.6 metres from the relatively shallow depth of 19.6 metres.


West Guadalcanal

West Guadalcanal covers 485 square kilometres and is considered under-explored and highly prospective for Southwest Pacific style mineralisation, namely gold-silver-base metal epithermal and copper-gold porphyry including skarn mineralisation.

Recent trenching unearthed more bulk tonnage style results including 30 metres at 1.82g/t gold; 67 metres at 0.55g/t gold and 51 metres at 0.41g/t gold.

Axiom has developed an exploration model for mineralisation at Taho as being hosted in a carbonate base-metal gold low sulphidation epithermal system, a view endorsed by an independent consultant.



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.

Aguia Resources to release Brazilian phosphate project Scoping Study

Aguia Resources (ASX:AGR) is on track to release a Scoping Study for its Três Estradas phosphate deposit in Brazil during the current quarter.

During the June 2015 Quarter, the company increased Indicated and Inferred Resources by 130% to 70.1 million tonnes grading 4.2% P2O5.

Higher grade oxide zone from surface were more than doubled to 3.9 million tonnes averaging 10.25% P2O5.

Beneficiation test work at Três Estradas resulted in 80% phosphate recovery from oxidised carbonatite and 65% from fresh carbonatite.

The company also continues to assess its other assets in the Rio Grande do Sul region including Cerro Preto, Joca Tavares and Porteira.

 

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.

VDM Group, RNI top ASX % Gainers

Friday’s leading ASX % Gainers.

NameCodeLastChangeVolume
VDM Group ASX:VMG $0.005 66.7% 2,339,135
RNI NL ASX:RNI $0.023 53.3% 24,199,863
Delecta Limited ASX:DLC $0.003 50% 244,500
Water Resources Group ASX:WRG $0.003 50% 166,670
Sayona Mining ASX:SYA $0.037 37% 11,843,017
AnaeCo Limited ASX:ANQ $0.004 33.3% 100,000
Kinetiko Energy ASX:KKO $0.06 33.3% 83,035
Diatreme Resources ASX:DRX $0.01 25% 110,000
Elk Petroleum ASX:ELK $0.04 25% 50,000
Q Technology Group ASX:QTG $0.005 25% 136,000

 

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.

Black Mountain Resources heads to the high seas with salvage expedition

Black Mountain Resources (ASX:BMZ) is entering the salvage business with its securing an option to take a 20% interest in a company planning to explore shipwrecks off the Irish coast for gold and silver coins and bullion.

It has also restructured debt, is taking steps to inject new capital and commence silver drilling at its Conjecture Mine in Nevada.

The salvage expedition seeks to initially recover major gold and silver cargoes from two British passenger ships sunk during World War I.

The two initial targets are believed to hold 1.3 million ounces of gold and 482,000 ounces of gold respectively.

A third target of approximately 6.35 million ounces of silver is available time permitting.

Black Mountain will commit an initial expedition amount of $2 million to identify the potential gold cargo of the SS Arabic.

Upon a successful discovery of any cargo, the company has negotiated a draw down facility to fund the option of an additional $2 million investment required to earn the 20%.

The company has raised $179,000 through a placement of shares priced at $0.01 and is currently finalising its convertible note raising of $2.24 million.

A key part of the company’s restructuring is agreement with the major creditors to either convert their current debts into equity as part of the proposed capital raising ($2 million conversion and a further $1 million convertible at the company’s election upon a successful discovery) or quarantine the debt against the company’s interest in its second silver project, New Departure.



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.

Dicker Data gets ready to raise

Wholesale distributor Dicker Data (ASX:DDR) has been granted an ASX trading halt to complete a capital raising.

The company is distributes to over 5,000 resellers across Australia and New Zealand.

The halt will remain in place until the opening of trade on Tuesday 4th August 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 emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Syrah Resources rattles the tin

Syrah Resources (ASX:SYR) is heading to market with a capital raising. The ASX has granted the company a trading halt to prepare.

The company is focussed on its Balama Graphite and Vanadium Project in Mozambique.

The halt will remain in place until the opening of trade on Tuesday 4th August 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 emerging companies with distribution in Australia, UK, North America and Hong Kong / China.