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Briefcase: SA business snippets

Business

Welcome to Briefcase, a quick tour of announcements, awards and events showcasing the everyday exploits of SA businesses.

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Centrex Metals to kick-start phosphate project

SA headquartered Centrex Metals Limited has announced it will begin mining at its Ardmore Phosphate Project in North West Queensland “in the near future”.

“All approvals have been granted for the mining and associated works and quotes are currently being negotiated from contractors for the mining and ancillary activities,” Centrex said in a statement to the ASX last week.

It anticipated the initial stage of mining would produce 25,000 tonnes of Ardmore ore.

The mineral company said once mining began it would also update its Definitive Feasibility Study, citing changes to commodity prices and exchange rates since the initial DFS was produced.

“Once this information is quantified, Centrex anticipates the previously anticipated timing of the full development of the Ardmore Phosphate Project will be rescheduled,” it said.

It follows an announcement in December that former BDO Australia consultant Peter Hunt would step in as a Non-Executive Director for the mineral company, replacing the previous Director Peter Cox.

Meanwhile, Oz Minerals last week announced it had signed an agreement with Byrnecut Australia “for the delivery of underground mining and associated mining services at its Carrapateena mine” following a review of incumbent provider Downer EDI.

“The five-year alliance-style contract with Byrnecut Australia is valued at circa $130 million per year,” it said.

“Byrnecut will commence a seven-week mobilisation to the Carrapateena site on 20 January 2021 and assume full responsibility for mining services from 4 March 2021.

“Byrnecut will now provide underground mining services to both the Carrapateena and Prominent Hill mines.”

Renascor to commence drilling after Gawler Craton gold find

South Australian mining company Renascor Resources says it has received all approvals necessary to commence drilling for gold in the state’s north before the end of March

The publicly-listed company announced last week that an Induced polarization (IP) survey confirmed a large, shallow anomaly at its Soyuz prospect in South Australia’s Central Gawler Craton.

The recently completed IP survey confirmed an anomalous chargeability zone approximately 500 metres along-strike of its previous high-grade drilling at Soyuz.

Renascor considers the IP zone to contain high priority drill targets for primary gold mineralisation

A drill rig is scheduled to be sent to the site later this quarter.

Renascor’s Soyuz Prospect is part of its 100 per cent-owned Carnding Gold Project in South Australia’s Central Gawler Craton, an area that hosts a significant number of gold deposits including the Challenger and Tarcoola gold mines and the Tunkillia gold deposit.

The region is currently experiencing increased gold exploration and development activity, including the proposed redevelopment of the Tarcoola gold mine, located approximately 20km east of Renascor’s project area.

Additional recent gold activity in the area has included Marmota Energy’s exploration of the Aurora Tank project and its purchase of the Jumbuck project from Tyranna Resource.

Headquartered in Adelaide, Renascor Resources is an Australian-based company focused on the discovery and development of viable mineral deposits. Renascor has an extensive tenement portfolio in South Australia, including its flagship Siviour Graphite Project.

Corporate Position: the latest executive employment opportunities 

International IoT and cloud-based technology leader Buddy Technologies Ltd (ASX:BUD) has an opening for a Financial Controller, best suited for an experienced, qualified accounting professional who is keen to progress their career in a growing business. Reporting to the Chief Financial Officer, the successful candidate will need to be comfortable working extensively with team members located in time zones and locations around the world. Key duties include preparing all external and internal financial reporting and interpreting financial information to influence necessary change.

Micro-X looks to expand markets as new Chair steps in

Hi-tech company Micro-X chairman Patrick O’Brien has stepped down as after five years, moving into a non-executive director role. He’s been replaced by former Australian Naval Infrastructure CEO and MD David Knox.

Knox is the Snowy Hydro chair, a member of the Adelaide Festival board and former Santos CEO and MD.

The change in leadership comes as Micro-X partners with Adelaide-based business Ultra Mobile Radiology to deliver door-to-door x-ray imaging services to patients in homes, retirement villages and aged-care facilities.

In a statement to the ASX last week, Micro-X said it was using its lightweight x-ray – the Nano – to transmit images for radiology reporting by tele-radiology.

The images could be made immediately available to requesting GP and specialists, it reported.

The company launched the Nano in 2017 and last year announced it would take back sales and distribution control of the product from Carestream Health after sales figures failed to meet expectations.

Micro-X said it was also looking to expand use of its Rover technology in small veterinary hospitals.

“The Company has sourced a suitable detector and appropriate clinical imaging software and is close to commencing a workflow and voice-of-customer user trial in a veterinary hospital near Adelaide,” it said.

“There has also been significant interest already in discussions with development cost and regulatory hurdles.

“The Company plans a small-scale trial in Australia which, if successful, would lead to exploring new distribution partnerships in North America and Europe.”

SA startup pushes into Europe

South Australian-based startup Wicked Lab has announced the establishment of Wicked Lab Europe.

Wicked Lab CEO and co-founder Emily Humphreys said the European branch of the social enterprise was developed in response to a growing appetite for climate solutions across Europe.

The company was initially created to find solutions to complex or “wicked problems” in the social purpose sector by working with organisations, governments and communities through education programs.

Wicked Lab has also developed an online tool that creates and measures systemic impact.

Coinciding with the company’s expansion, Wicked Lab Europe has partnered with Trinity College Dublin in a bid to score investment that would allow the SA-based startup to roll out its Systemic Innovation Labs across Spain, Ireland, Romania, the United Kingdom and Malta.

Humphreys, who is an alumnus of Indaily‘s 40 Under 40, said the labs would work to speed regional economies from being “climate-vulnerable” and unable to cope with the effects of climate change to being “climate-resilient,” allowing the economies to not only recover quickly but also ensure long-term, decent work and quality jobs for citizens.

“Its an honour to be an expert partner with Trinity College on such an ambitious project that has such significant economic and environmental impacts,” Humphreys said.

“Being invited to become an expert partner in this four year project is a huge opportunity for a South Australian social enterprise.

“Beyond the project, we see lots of opportunity throughout Europe to build the capacity of change-makers to take a complexity-based approach to systems change.”

State Government launches new business app

The South Australian government last week launched a free app for the state’s businesses in a bid to make it easier to access financial support and services.

Designed for both Apple and Android users, the mobile app provides information from the SA Business Information Hub website, which collates state and federal financial support options for businesses across sectors including the arts, eCommerce and space.

Minister for Innovation and Skills David Pisoni said the new app would be a valuable tool for small businesses, many of which had been impacted by COVID-19 and bushfires.

“While many local businesses have started the recovery process as COVID-19 restrictions ease, we know there are still many others who continue to be negatively impacted by the pandemic,” he said.

“By simply downloading the free app, business owners will have in the palm of their hand a tool that can point them to a website, a grant or a government agency that can assist.”

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