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PYBAR to Continue Work at Red River’s West 45 Zinc-Lead Mine

Continuing their working relationship, Red River Resources has extended its contract with PYBAR Mining Services by another two years for further work on its West 45 mine.

PYBAR Mining Services has been given an extension by Red River Resources (ASX:RVR) to continue working at the company’s West 45 zinc-lead mine.

West 45 is one of the base metal deposits that comprises Red River’s Thalanga zinc project, located 65 kilometers southwest of Charters Town in central Queensland, Australia. Following a five-year hiatus, production at the project restarted in September 2017, though development and mining activities at West 45 resumed in April 2017.

PYBAR, who has provided mining services for Red River at West 45, had a contract with the company that was set to expire in January 2019. However, Red River announced Thursday (July 12) that it would be extending the contract for a maximum of 2 years, or until West 45’s mine life comes to an end.

With the intention of further extending West 45’s mine life, Red River is starting a 4,500m underground diamond drilling program at the site. The deposit has an ore reserve of 567,000 tonnes grading 11.6 percent zinc equivalent, and a mineral resource estimate of 582,000 tonnes grading 15.45 percent zinc equivalent.

The West 45 deposit consists of five semi-massive to massive sulphide lenses, primarily rich in zinc and lead. However, small amounts of gold, silver and copper were also detected in a mineral resource estimate completed in January 2015, grading 0.6 percent copper, 0.3g/t gold and 69g/t silver.

The news comes just a week after Red River announced that PYBAR had also been given a contract to help develop and operate the company’s Far West mine, the second deposit to be mined as part of the Thalanga project. The Far West contract is set to last seven years.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

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Person looking at credit card while making a purchase on their phone

A subsection of the booming fintech sector, innovative payment services are experiencing a hay day.

Paytech is just what it sounds like — technology for payments. In Australia, changes to open banking laws plus the need for contactless payments through the global pandemic has meant a major uptake in paytech services.

There are more than 1 million Aussies shopping online each month as different parts of the nation continue to be under COVID-related lockdowns and stay at home orders.


A subsection of the booming fintech sector, innovative payment services are experiencing a hay day. Paytech options are everywhere, with examples like mobile, peer-to-peer, cryptocurrency payments and international payments.

5 Biggest ASX Paytech Stocks

The Investing News Network looked at the biggest paytech stocks on TradingView sorted by Market cap. Data for this list was obtained on September 30, 2021.

1. Afterpay (ASX:APT)

Market cap: AU$35.37 billion

The startup founded in Sydney's eastern suburbs five years ago is now a global brand and employs some 700 people globally serving millions of customers. The brand name has become a verb for buy now pay later — "I'll after pay it." AfterPay was acquired by giant payments provider Square for AU$39 billion in August 2021. Group Total Income for FY21 was 78 percent higher than the previous year at AU$924.7 million, and Afterpay Income increased by 90 percent.

Early investors have reaped the benefits of AfterPay's booming rewards. An investigation by the Australian Financial Review found singer John Farnham and wife Jillian started investing in 2017 when share prices were low and today they hold 36,304 shares at a value of close to AU$3.2 million.

2. Sezzle (ASX:SZL)

Market cap: AU$1.13 billion

Sezzle is the Certified B Corp buy now pay later option that listed on the ASX in 2019. Often dubbed the "mini-Afterpay," the business is based in Minneapolis, US, and has been trying to make "Just Sezzle it" happen since it formed in 2016. The company serves customers mostly in North America, with plans to expand to India.

The company reported an after-tax loss of US$30.4 million for the six months ending June 30, 2021, and it saw an income increase of 159 percent for the same period, alongside an increase of 102 percent in costs.

3. Openpay Group (ASX:OPY)

Market cap: AU$173.92 million

Another Australian buy now pay later offering is Openpay, which offers payment plans of up to 24 months and up to AU$20,000. Openpay started in 2013 for Australia and New Zealand, expanded in 2019 to the UK and reached the US in 2020 under the brand name Opy. This contributed to a growth of 44 percent in income for FY21 of AU$26.3 million.

The company positions itself as a financially responsible business for a mature audience wanting funding for life affirming things like home improvement projects. Unlike Afterpay, Openpay does perform credit checks on all clients through their B2B offering, a SaaS-based platform Openpay for Business.

4. Cirralto (ASX:CRO)

Market cap: AU$167.19 million

Cirralto is a transaction services business that supplies a broad range of B2B payment services and a fully integrated digital payment and business software solution known as Spenda. It aims to help businesses to improve their processes and payment terms to so the businesses can get paid faster.

Cirralto's FY21 has been strong, with 157 percent increase in revenue and a 113 percent boost in customer growth. Other big news included the acquisition of software technology company Greenshoots Technology in September 2021. Greenshoots provides a white-labelled eCommerce platform for small and medium businesses.

5. Novatti Group (ASX:NOV)

Market cap: AU$148.95 million

Novatti is a multi-services payment provider for businesses and business customers with year on year revenue growth of around 50 percent for each of the past four years. Its customer base is roughly half fintech companies and banks and half traditional merchants and businesses. Novatti has licenses to operate in Australia, New Zealand and Canada and is obtaining licenses in Europe and Singapore.

The brand has big plans to expand into new markets after a AU$40 million capital raise in July, of which AU$22 million was spent on a strategic investment of a 19.9 percent stake in bookkeeping software Reckon (ASX:RKN). The company is working through licenses with Mastercard and Visa and will be looking to expand into new markets for FY22.

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.

carbon emissions

Following international pressure, the Australian government has promised to reach net zero emissions by 2050.

In a last-minute commitment after months of debate, the Australian government has promised to reach net zero emissions by 2050, expecting to meet the goal largely through technology development.

The move comes following international pressure as Australia had previously refused to join countries in pledging to meet the target ahead of the United Nations' COP26 climate conference in Glasgow.

However, the plan unveiled on Tuesday (October 26), which includes a government investment of AU$20 billion, does not strengthen the target set for 2030, with Prime Minister Scott Morrison saying Australia is on track to beat its Paris Agreement goal, cutting emissions by 30 to 35 percent by that decade.


"We will do this the Australian way," Morrison said ahead of a press conference, announcing investments in new energy technologies like hydrogen and low-cost solar.

An Australian hydrogen industry could be worth more than AU$50 billion in 2050, according to the government. Meanwhile, expanding production and processing of metals like lithium, nickel, copper and uranium could together be worth around AU$85 billion in exports in 2050.

That said, Australia will continue to be heavily dependent on fossil fuels as the plan will not shut down coal or gas production. The country is a major coal player, with the third largest reserves in the world, but its reliance on coal-fired power makes it one of the world's largest carbon emitters per capita.

"We want our heavy industries, like mining, to stay open, remain competitive and adapt, so they remain viable for as long as global demand allows," Morrison said. "We will not support any mandate — domestic or international — to force closure of our resources or agricultural industries."

Australia's desire to achieve net zero emissions by 2050 is a step in the right direction, Prakash Sharma, Wood Mackenzie's Asia Pacific head of markets and transitions, said.

"Our analysis shows that Australia can reach net zero emissions by 2050," he said. The country's major trading partners — China, Japan and South Korea — are already in transition towards that goal.

According to Wood Mackenzie, nearly 83 percent of Australia's power generation will come from solar and wind by 2050, as compared to about 20 percent last year. Natural gas, bio energy, geothermal and small modular reactors will supply the remaining 17 percent in power output. Coal into power is expected to be phased out by 2035.

"Although the pathway requires complete transformation of its traditional energy and export sectors, there are significant opportunities to capitalise on and protect future revenues," Sharma said.

"This will require Australia to become a significant player in low-carbon hydrogen trade as well as being able to offer carbon storage and offset services."

Meanwhile, the Australian Conservation Foundation has welcomed the prime minister's commitment to reach net zero by 2050, but said the mid-century goal is only meaningful with deep cuts to climate pollution this decade.

"Unless the government sets the wheels in motion to cut our emissions in half by 2030, it is making climate change worse and turning its back on the opportunities," said Chief Executive Kelly O'Shanassy.

"Australia can become a global clean energy superpower in the next decade by replacing coal and gas with renewable energy," she added. "We have abundant clean energy, tools and talent, but we cannot delay any longer."

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

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