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Global Energy Metals Becomes Leading Cobalt Developer in Mt. Isa Australia by Acquiring 100% of Millennium Cobalt Project and Neighbouring Mt. Isa Cobalt Projects

Global Energy Metals Corporation (TSXV:GEMC) (“Global Energy Metals”, the “Company” and/or “GEMC”) is pleased to announce that it has entered into a binding agreement (the “Agreement”) with Hammer Metals (“Hammer”) to acquire the balance of the interest in the Millennium Cobalt Project (the “Millennium Property”) as well as the Mt. Dorothy Cobalt Project and the Cobalt Ridge Project (collectively the “Mt. Isa Projects”), such that it will hold 100% of both the Millennium Property and the Mt. Isa Projects.

Global Energy Metals Corporation (TSXV:GEMC) (“Global Energy Metals”, the “Company” and/or “GEMC”) is pleased to announce that it has entered into a binding agreement (the “Agreement”) with Hammer Metals (“Hammer”) to acquire the balance of the interest in the Millennium Cobalt Project (the “Millennium Property”) as well as the Mt. Dorothy Cobalt Project and the Cobalt Ridge Project (collectively the “Mt. Isa Projects”), such that it will hold 100% of both the Millennium Property and the Mt. Isa Projects.

This accelerated acquisition of cobalt rich assets positions GEMC as the region’s leading cobalt explorer/developer building a district-scale cobalt opportunity in Queensland Australia’s Mt. Isa prolific mining jurisdiction.

Mitchell Smith, President & CEO of Global Energy Metals, commented: “This combination creates one of the largest and most exciting exploration cobalt packages in Australia. Spurred by the recent drilling success and confidence in adding to the already significant cobalt tonnage at Millennium, we are pleased to announce this acquisition which furthers our long-term growth and value-building strategy. With this acquisition, we continue to consolidate multi-million tonne cobalt assets and maximize cobalt leverage for our shareholders. Upon completion, we plan to recommence exploration and expansion of the project with the intent to commission a current resource estimate for the projects as well as identify new opportunities in the cobalt rich district.”

“The initial work program, that just concluded at Millennium, has only just begun to highlight the potential for the project to be part of a much larger regional cobalt play across the Mt. Isa region of Queensland Australia. Hammer is pleased to have the opportunity to be invested in such a dynamic and focused cobalt explorer and developer while retaining exposure to longer term value creation that the Millennium and Mt. Isa Projects will offer,” Stated Alex Hewlett, Managing Director of Hammer Metals.

Global Energy Metals recently announced a series of consistent long and wide intercept high-grade cobalt results from assays from the phase one work program at the Millennium Property, an advanced exploration project with a JORC (2012) resource. The objective of the 10-hole, 1,141 metre drilling campaign was to test the up-dip continuity at the Millennium North deposit and confirm historical estimates of cobalt mineralization reported in 2016 by operating partner Hammer Metals. Drilling results correlate well with the previous deeper drilling with the further delineation of wide zones of cobalt, copper and gold mineralisation nearer to surface. The drilling campaign is now complete. Analysis and reporting of the previous drill results can be found in news releases dated June 19, 2018, May 31, 2018, April 30, 2018 and January 17, 2018.

Rock chip sampling has also been conducted to test for additional zones of cobalt and copper mineralisation along the Millennium trend and in particular the northern strike extension (“Northern Extension”) where similar host rock units and strong soil geochemical anomalies are located. This zone is located approximately 1 kilometre north of the current Millennium resource as defined. Results indicate high priority targets for further work to expand the known resource area.

The presence of anomalous cobalt and copper in rock chip samples and analogous geology between the Millennium resource area and the Northern Extension indicate that this area is a priority target for further investigation.

The Agreement:

Global Energy Metals shall purchase from Hammer Metals (the “Vendor”) the balance of the Millennium Property that it currently does not own and the Mt. Isa Projects, such that it will hold 100% of both the Millennium Property and the Mt. Isa Projects (together, the “Property”) in exchange for the issuance to the Vendor of such number of common shares in the capital of GEMC (the “Payment Shares”) as is equal to 19.9% of the issued share capital on the day prior to the date on which Exchange acceptance for such issuance is sought.

GEMC and the Vendor entered into an option agreement dated September 21, 2017 (the “Millennium Agreement”) pursuant to which the Vendor granted to GEMC an option to acquire 75% of the Millennium Cobalt Project, which is located in the Mount Isa mining region of Queensland, Australia. On March 21, 2018, GEMC gave notice to the Vendor that it had met its obligations under the Millennium Agreement to acquire a 25% interest in the Millennium Property.

GEMC and Hammer entered into a letter of intent dated March 9, 2018 (the “Mt. Isa LOI”) pursuant to which Hammer agreed to sell 100% of certain rights and interests held, directly or indirectly, legally or beneficially, by Hammer in and to certain mineral interests known as the Mt. Dorothy and Cobalt Ridge properties located in Mt. Isa, Queensland.

The Definitive Agreement contemplated by the Letter of Intent will supercede and replace the Millennium Agreement and the Mt. Isa LOI.

The transaction as described herein is subject to the approval of the TSX Venture Exchange (the “Exchange”).

The Transaction:

The Payment Shares will be subject to resale restrictions of 4 months plus one day in accordance with applicable securities legislation and will also be subject to a voluntary pooling agreement pursuant to which the shares will be released as to 20% on issuance and 40% every six months thereafter until 12 months after the date of issuance.

Upon the release of the Payment Shares, the Vendor will be limited to sell, on a weekly basis and on the open market, such number of Payment Shares that may not exceed 35% of the total volume of shares of GEMC traded on the Exchange on a weekly basis (the “Threshold Amount”). The Vendor agrees to obtain the consent of GEMC if it wishes to sell Payment Shares in excess of the Threshold Amount, such consent not to be unreasonably withheld having regard to the impact of such sale on the market price of the shares of GEMC.

For as long as the percentage of issued and outstanding shares of GEMC beneficially owned by the Vendor (the “Vendor Interest”) is at least 10%, GEMC will support the nomination of one individual designated by the Vendor for election or appointment to its board of directors.

Given Hammer’s technical and jurisdictional expertise, it will remain as operator of the Property until at least the first anniversary of the date of the Definitive Agreement, with such engagement to be reviewed and renewed on an annual basis thereafter. Hammer shall receive an operator’s fee of 10% of the expenditures carried out on the Property.

Hammer will also co-operate with GEMC with a view to identifying and acquiring additional cobalt assets in the Mt. Isa region of Queensland, Australia fulfilling its mandate of creating a diversified and viable supply of material to offset current reliance from DRC sourced cobalt.

The Millennium Cobalt Project:

Millennium is an advanced staged cobalt project with a large defined zone of cobalt-copper mineralisation which remains open at depth and along strike. Hammer Metals completed a JORC (2012) Resource estimate in late 2016 and reported 3.1 million tonnes of Inferred Resources* grading 0.14% Co, 0.34% Cu and 0.12 g/t Au (using a CuEq cut-off of 1.0%). Under Canadian reporting standards this resource is considered a “historic estimate”. The 2016 JORC (2012) resource estimate completed by Hammer Metals Ltd. outlined a mineralised zone over a strike length of approximately 1.5 km.

Cobalt-copper mineralisation is associated with shear zones hosted within a sequence of volcanic and sedimentary units. Additional mapping, soil geochemistry and rock sampling has identified an additional 1.5 km of anomalous cobalt-copper mineralisation in geological analogues that occur along a potential strike extension in the northern half (“Northern Target”) of the tenement package. This area has not been tested with any drilling to date. The Northern Target provides excellent opportunity to increase the overall resource potential of the Millennium project.

Prior to GEMC’s involvement, the area had been tested by 63 drill holes (percussion, RC and diamond) for a total of 7,891 metres. Most holes have been drilled within 200 metres of surface, with few holes reaching to depths greater than 250 metres below surface. At present mineralisation remains open at depth along the strike extent of the JORC (2012) resource area.

The Mt. Isa Projects:

The Mt. Isa Projects present as an excellent opportunity to acquire high-grade, underexplored assets in close proximity to a processing solution as well as stand-alone potential.

Exploration to date has returned outstanding, high-grade intercepts and there is excellent potential to significantly improve the understanding of the projects with with multiple high grade targets awaiting further exploration and testwork. Significant cobalt intercepts include:

  • ooMount Dorothy exploration drilling:
    • oo7m @ 0.14% Co, 2.55% Cu
    • oo2m @ 0.12% Co, 0.13% Cu
  • ooCobalt Ridge exploration roc chip sampling:
    • oo0.31% Co, 3.63% Cu, 1.25g/t Au

The deposits and prospects are similar in size and style to other deposits in the region that have been successfully mined by small-scale open pit techniques which implies that the project mineralisation may be economically extracted.

The Mt Isa Inlier is a highly mineralised, established, world class mining jurisdiction with significant regional infrastructure several world-class copper-gold-cobalt and lead-zinc-silver mines and deposits, including CuDeco Limited’s operating Rocklands copper-gold-cobalt project.

*This work was based on a technical report by Haren Consulting Pty Ltd., issued November 29, 2016 conforming to JORC (2012) reporting standards for resources estimates. As Hammer uses JORC (2012) categories, it should be noted that the confidence in the estimate of JORC (2012) inferred mineral resources is usually not sufficient to allow the results of the application of technical and economic parameters to be used for detailed planning. For this reason, there is no direct link from an inferred resource to inferred resource as defined under NI 43-101. However, the Company deems this resource still relevant because economic parameters have not changed significantly since publication date and the Company has confidence in the estimate based on review of technical data. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or reserves. CuEq% = Cu% +(Co%*5.9) +(Au ppm*0.9) +(Ag ppm*0.01). Price assumptions utilised by Hammer for the JORC (2102) resource estimate and drill hole intercepts are (in USD); Au – $1,300/oz, Ag – $20/oz, Co – $27,000/t and Cu – $4,600/t.

Qualified Person

Mr. Paul Sarjeant, P. Geo., the Company’s VP Projects and Director, is the qualified person for this release as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and verified the technical information contained herein.

Global Energy Metals Corporation

(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)

Global Energy Metals is focused on offering security of supply of cobalt, a critical material to the growing rechargeable battery market, by building a diversified global portfolio of cobalt assets including project stakes, projects and other supply sources. GEMC anticipates growing its business by acquiring project stakes in battery metals related projects with key strategic partners. Global Energy Metals currently owns and is advancing the Werner Lake Cobalt Mine in Ontario, Canada and has entered into an agreement to earn-in to the Millennium Cobalt Project in Mt. Isa, Australia.

For Further Information:

Global Energy Metals Corporation

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: info@globalenergymetals.com

t. + 1 (604) 688-4219 extensions 236/237

Cautionary Statement on Forward-Looking Information:

Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

We seek safe harbour.

Source: www.thenewswire.com

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5 Top ASX Robotics Stocks

Emerging Technology Investing
robotic arm above a globe showing Australia

Australia is hoping to lead the way in robotics, and these are some of the country's top robotics stocks by market cap.

Robotics is a growing area of engineering and science technology. Although Australia is hoping to lead the way in robotics, the number of pure-play ASX-listed robotics companies isn't all that big.

Robotics is a broad term covering everything from design to the construction and operation of robots. It also includes the use of robots in roles normally played by humans, often to reduce errors or speed up processes.

This list includes a wide range of ASX-listed companies that employ robotics. Data was sourced using TradingView's stock screener on November 24, 2021, and stocks are listed in order of market cap from largest to smallest.


1. WiseTech Global (ASX:WTC)

Market cap: AU$17.19 billion; current share price: AU$52.90

Technology powerhouse WiseTech Global provides software solutions to logistics businesses in 130 countries around the world. Its CargoWise platforms are designed using workflows, automation and robotics. The WiseTech Global Group includes more than 30 businesses.

The company has performed positively on the ASX over the past year, with its share price rising about 70 percent since the start of 2021. The company expects to continue this momentum in during its 2022 fiscal year, with projected EBITDA growth of 26 to 38 percent.

2. Altium (ASX:ALU)

Market cap: AU$5.47 billion; current share price: AU$41.67

Altium is a leading global software company that focuses on 3D-printed circuit board (PCB) design. Although seemingly obscure, the PCB design tool Altium Designer is used by robotics companies like Robotics Kanti. The company also sponsors student robotics design competitions that focus on PCB design.

The 2021 fiscal year was strong for Altium, which reported a revenue increase of 6 percent, to AU$180.2 million, and announced a final dividend of AU$0.21 per share.

3. Vection Technologies (ASX:VR1)

Market cap: AU$249.49 million; current share price: AU$0.25

Vection Technologies is a multinational software company with offices in Western Australia, as well as Subiaco and Casalecchio di Reno in Italy. The company uses robotics technology in addition to 3D, virtual reality, augmented reality, industrial internet of things and CAD solutions.

The business is split into two sections: information technology development and outsourced services. The company also collaborates with Autodesk Technology Centres, the Microsoft Mixed Reality Team and Cisco Systems Italy.

4. FBR (ASX:FBR)

Market cap: AU$116.95 million; current share price: AU$0.05

FBR designs, develops and builds robots for the global construction market. The company's dynamically stabilised offerings are made to work outdoors using FBR's Dynamic Stabilisation Technology.

This technology was first used in the Hadrian X, a brick-laying robot that can build structural walls more efficiently than traditional methods and with less waste. The first commercial building to have its structural walls built by Hadrian X in 2020 was completed and tenanted in 2021.

5. Bill Identity (ASX:BID)

Market cap: AU$44.18 million; current share price: AU$0.25

Previously known as BidEnergy, Bill Identity provides a series of bill management solutions leveraged using its Robotic Process Automation (RPA). The RPA system helps clients increase their efficiency and serves customers across Australia, New Zealand, the UK, the US and Europe. The company had a strong year, with total operating revenue growth of 55 percent year-on-year to AU$14.6 million in its 2021 fiscal year.

Don't forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article

Sydney Opera House at night

Robotics is an area of investing that is growing in Australia ― but is it a sector worth investing in?

The global robotics industry is expected to grow at a compound annual growth rate of 7.8 percent through 2028 according to the Global Industrial Robotics Market Analysis 2020. Robotics is an area of investing that is growing in Australia ― but is it a sector worth investing in?

Broadly speaking, robotics is the design and construction of robots. This can include core automation and production, industrial software, robot technology and integration of robotics. From drones to self-driving cars to toys ― robotics is a growing industry that is beginning to permeate our daily lives.


The distinction between robotics and AI can be a little confusing, but essentially think of robotics like the body and AI like the brain. Both can exist separately, and they are powerful when combined. The goal of a robot is to complete a task faster and more efficiently than a human.

What does the market look like?

The COVID-19 pandemic has seen technology sectors such as robotics accelerate as businesses have faced global challenges. Robotics has been able to help keep spaces safer by replacing humans with robots on factory lines, in eCommerce warehouses or on healthcare frontlines taking temperatures or disinfecting spaces.

What is Australia doing to support the robotics sector?

In early 2020, the Robotics Australia Network was formed to accelerate growth of the domestic robotics industry. The network aims to strengthen global competitiveness and cement Australia as a global leader in robotics.

How does the Australian robotics sector stack up?

According to the International Federation of Robotics, in a ranking of the world's most automated countries it's not even in the top 10. Number one is Singapore, followed by South Korea then Japan.

The investment space for pure robotics companies is relatively small, with greater opportunities to invest in more broader technology, AI and automation stocks.

Who are the big players in robotics stocks?

Robotics stocks in Australia are companies with a strong crossover to other technology sectors like artificial intelligence and virtual reality.

Vection Technologies (ASX:VR1)
Market Cap AU$77.56 million

Vection is a multinational software company with offices in Western Australia as well as Subiaco and Casalecchio di Reno in Italy. The company uses robotics technology as well as 3D, virtual reality, augmented reality, industrial IoT and CAD solutions. The business is split into two sections: IT development and outsourced services. The company also collaborates with Autodesk Technology Centers, the Microsoft Mixed Reality Team and Cisco Systems Italy.

Bill Identity (ASX:BID)

Market Cap AU$52.97 million

Previously known as BidEnergy, Bill Identity is a series of bill management solutions leveraged using robotic process automation, which helps clients increase efficiency. The company serves customers across Australia, New Zealand, the UK, the US and Europe. Bill Identity had a strong year, with total operating revenue growth of 55 percent year-on-year to US$14.6M in FY21.

What are the other ways to invest in robotics?

Another way to get into the robotics sector is investing in robotics exchange traded funds (ETFs), a popular choice that offers exposure to the industry of robotics and artificial intelligence rather than a single company. Two major ETFs in the robotics sector are:

  • BetaShares Global Robotics and Artificial Intelligence ETF (ASX:RBTZ)
  • The ROBO Global Robotics and Automation ETF (ARCA:ROBO)

Don't forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.