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Lindsay Dudfield, Executive Director and CEO of Jindalee Resources Limited, Executed MOU with POSCO Holdings For Joint Research At McDermitt Lithium Project

JINDALEE RESOURCES LIMITED  (ASX: JRL) (Jindalee, the Company) is an Australian exploration company with Tier 1 lithium deposits in its portfolio in the United States. The Company’s core goals are to discover world-class mineral deposits and generate shareholder wealth. The United States is one of the largest marketplaces for lithium demand, and Jindalee is a leading company committed to help meet future demand. The Company is focussing efforts into developing its McDermitt lithium deposit. Jindalee Resources was listed on the Australian Securities Exchange (ASX) on 11th July 2002 and raised AUD 2.70 million. Now, it is a pure-play United States lithium company. Jindalee’s Projects: In June 2018, the Company acquired McDermitt and Clayton North, two lithium sediment projects in the United States. Both projects are 100% owned by HiTech Minerals Inc., a wholly owned, US-based subsidiary of Jindalee. Several factors attracted the Company’s interest in these projects including: Potenti...
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Carbonxt Group Limited And MD Mr Warren Murphy: Key Facts Regarding HY23 Results

 CARBONXT GROUP LIMITED (ASX: CG1) (Carbonxt, or the Company) has set its sights on building a new activated carbon facility in KENTUCKY, UNITED STATES. The Company has forged a strategic joint venture with Kentucky Coal Processing LLC to bring this plant to fruition. In the second quarter of FY 2023, the two companies will finish the engineering feasibility work for the new plant. The final legal documentation is set to conclude soon. This plant is estimated to enhance Carbonxt’s production capacity from ~16,000 TONNES TO OVER 25,000 (+57%). It would benefit the Company by decreasing pellet production costs and increasing margin growth. This project presents Carbonxt with an opportunity to leverage investments in pollution reduction technologies in the US market.

Updates on revenue

  • In 1H23, Cabonxt’s revenue stood at AUD 8.9 MILLION, which DECLINED 10% compared to AUD 9.9 MILLION in 1H22. Revenue dropped due to maintenance for new equipment installation at the Arden Hills and Black Birch manufacturing facilities.
  • Activated carbon pellets revenue was 23%, down from 1H22. This decline was due to scheduled downtime at the Arden Hills facility and a minor decrease in seasonal demand from the Company’s important AC pellets customer.
  • Revenue from Powdered Activated Carbon (PAC) increased by 6% compared to last year (1H22), primarily driven by higher volumes from the Company’s largest PAC customer. Carbonxt extended the contracts of all Powdered Activated Carbon (PAC) customers.
  • The gross margin for 1H23 is 28%, down from 36% in 1H22.
  • In 1H23, shipping and operating costs both rose compared to 1H22. A slight increase is noticed in operating costs (~ 2%), and shipping costs increased about 20% in 1H23 compared to 1H22. Shipping costs are 10.9% of sales compared to 1H22 at 8.2%.
Carbonxt Group Ltd: Financial Position

Carbonxt Group Ltd has a debt facility of AUD 5.5 MILLION from Pure Asset Management. During the Annual General Meeting held in November 2022, management approved another debt facility of AUD 15 MILLION with Pure Asset Management. The proceeds of AUD 9.5 MILLION will be used to fund the new facility in Kentucky after paying the existing debt facility of  AUD 5.5 MILLION that matures in April 2023. During 1H23, Carbonxt secured AUD 8.5 MILLION by issuing 85 million fully paid ordinary shares. The Company held AUD 6.2 million in cash and cash equivalents as of December 31st, 2022.

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Lindsay Dudfield, Executive Director and CEO of Jindalee Resources Limited, Executed MOU with POSCO Holdings For Joint Research At McDermitt Lithium Project

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