Preliminary discussions have been held regarding the divestment
of the Collurabbie Ni-Cu-PGE Project.
Capital Structure
259.2 million shares
Cash at Bank - $0.3J M
Board Members
Richard Diermajer -NE Chairman Ron Smit - Managing Director
Ray Muskett -NE Director
Key Projects
Pending acquisition of Albion 3D (51% interest in Robo 3D)
Develops, designs, manufactures and sells 3D printers
Collurabbie Ni-Cu-PGE (100%) Massive Ni-Cu-PGE sulphides at the Olympia Prospect. Significant potential remains for additional discoveries.
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Corporate
Acquisition of Albion 3D Investments Pty Ltd
As announced on 3 December 2015, Falcon has agreed to acquire 51% of the share capital of Robo 30, Inc (Robo 3D) via the acquisition of 100% of the share capital of Albion 30 Investments Pty Ltd (Albion 3D), subject to shareholder approval. Robo 30 is a fast growing USA-based company (founded in 2012) that designs and markets a range of consumer focused products in the emerging 30 printing industry. The key terms of the agreement are outlined in the ASX release dated 3 December 2015 (Falcon to acquire Robo 30) and as revised in the ASX release dated 18 May 2016 (Update on Acquisition of Albion 30).
Suspension of Falcon Securities
On 2 May 2016, Falcon went into a trading halt and subsequently a voluntary suspension whilst it executed a replacement term sheet for the acquisition of Albion 30.
On 12 May 2016, the ASX released a Consultation Paper detailing a number of proposed changes to its admission and quotation requirements. In addition, ASX made amendments to Guidance Note 12: Significant Changes to Activities to address some emerging issues in relation to back door listings. The ASX (among other things) amended the Suspension from Quotation policy, with immediate effect, so that entities securities would be suspended from the time of the announcement of the proposed transaction and would remain suspended until the entity has re-complied with the ASX's admission and quotation requirements.
On 18 May 2016, Falcon released to the market information pertaining to changes to the original term sheet to acquire 51% of Robo 30. The ASX under its new policy enforced the continuation of the suspension of Falcon securities. The Company's securities will remain suspended until it completes the Albion 30 transaction.
Submission to the ASX
The Company has held discussions with the ASX regarding its proposed transaction and is working through some points to move the transaction to completion. Falcon has lodged a submission with the ASX and understands that the Listing Committee will review the matter in the first week of August 2016. The Company will provide some news on the transaction in early August 2016.
Robo 3D Growth
Robo 30 has experienced strong growth across its business, generating estimated sales of c. US$4.6 million in the 12 months to June 2016, compared to c. US$2.4 million over the corresponding prior year period (unaudited).
Sales of US$2.1 million for the six months ended 30 June 2016 (unaudited), c. 80% higher than corresponding period last year.
Cash Balance & Investments
At the end of the quarter the Company had a cash balance of $0.31M. Shares held by the Company in other entities are listed in Table 1.
Table 1: Share investments held by Falcon Minerals Limited Investments Number of shares held
Kingston Reources Limited (KSN) 91,895 Strategic Energy Resources Limited (SER) 3,000,000
Mineral Exploration Activities
The Board intends to seek opportunities to divest the Company's existing exploration assets.
The Company currently manages and operates one exploration project, namely the Collurabbie Project. It has an interest in three other projects which are subject to sale or joint venture (Saxby, Windanning Hill & Deleta) and are managed by other parties.