Enerji inks agreement to develop $15.1M Hybrid Solar Thermal Project

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CLEAN ENERGY CAFE: Thermal energy company Enerji (ASX: ERJ) has struck an agreement with Carbon Reduction Ventures (CRV) and Morawa Solar Thermal (MST) for the planned development of a hybrid solar thermal project.

The project is supported by the Western Australian State Government through its Low Emissions Energy Development (LEED) Fund.

Enerji explained CRV is to be developer of advanced solar and hybrid solutions and is to act as the project’s proponent, while MST is the project vehicle and has a Financial Assistance Agreement for LEED funds of $3,775,000 comprising 25 per cent of the budget of $15.1 million.

The project includes ATEN 3 technology, which has been developed by Enerji, and an Opcon Powerbox.

According to Enerji’s announcement to the ASX the project has zero emissions with all of the energy to drive the power generator coming from a ground-breaking hybrid arrangement combining solar thermal energy with waste heat.

The Solastor System works by storing energy in high-temperature graphite, which is supplemented by waste heat harvested from the exhaust of a fossil fuel power station.

“The Hybrid Solar Thermal Project is one of the projects within Enerji’s ‘Five-Projects’ strategy,” Enerji said in its announcement.

“Enerji has been collaborating on this project for 12 months undertaking concept development and preparatory work.”

The company outlined the key projected characteristics of the project to be: a budget of
$15,100,000; power generated (annually) of 5500 megawatt hours (MWh); emissions abated (annually) of 3476 tonnes; and a heat storage capacity of 10MWh.

The company anticipates electricity produced by the project will generate revenue by displacing fossil fuel power generation.

The project will apply Enerji’s ATEN 3 system to collect thermal energy from two sources with distinctly different heat characteristics.

Medium temperature heat is to be harvested from the exhaust of the host power station, while high temperature heat will be collected from concentrated solar thermal.

“The flexibility of collecting concentrated thermal energy from multiple sources provides diversity and redundancy,” Enerji said.

“The ATEN 3 system applies accretive principles to optimise and regulate each energy source and further optimises the overall thermal energy mix.

“The system also enhances the thermal energy quality and governing, for power generation, in a manner that improves overall operating efficiency when compared to using either heat source in isolation.

“The cumulative benefit is improved efficiency and capacity factor, resulting in compounded improvements to capital efficiency.”

Email: info@enerji.com.au

Website: www.enerji.com.au

Latin Resources confirms 1.1km copper strike at Ilo Este

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THE DRILL SERGEANT: Latin Resources (ASX: LRS) has completed the third drill hole at the company’s 100 per cent-owned Ilo Este project in Peru.

The hole (IE-JDD-003) was completed to a depth of 629.2 metres with results concluding it to be consistently mineralised from surface to 472m down hole depth.

Assays have returned uncut average grades of 472m at 0.11 per cent copper, 0.09 grams per tonne gold, 11ppm molybdenum and 1.6g/t silver.

Latin said the mineralisation encountered by IE-JDD-003, clearly verifies the porphyry system to be mapped over more than three square kilometres as a large mineralised system with substantial scope for improved grades within the overall envelope of alteration and mineralisation the company has mapped to date.

 

Long section parallel with the strike of the Northern Intrusive Belt
showing copper assay results (red) from drill holes IE-JDD-001,
IE-JDD-002 and IE-JDD-003. Source: Company announcement

 

The company indicated the three holes drilled so far each host porphyry copper mineralisation, covering 1.1km of strike in the northern intrusive belt.

“Our third hole at Ilo Este reinforces the size and continuity of the mineralised porphyry system and also highlights the opportunity for securing a strong joint venture partner to help properly evaluate its full potential in a timely manner,” Latin Resources managing director Chris Gale said in the company’s announcement to the Australian Securities Exchange.

“We look forward to bringing such a partner to the project soon and thus enable value to be unlocked more rapidly for Latin shareholders.”

Email: info@latinresources.com.au

Website: www.latinresources.com.au

White Cliff intersects high-grades in second Canach gold system

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THE DRILL SERGEANT: White Cliff Minerals (ASX: WCN) has reported the intersection of multiple zones of high-grade gold mineralisation in the second mineralised system the company has identified at its Chanach project, located in the Kyrgyz Republic.

The second zone is known as the Copper-Gold Zone (CGZ) and occurs 120 metres above and parallel to mineralisation White Cliff previously identified at the Lower Gold Zone (LGZ).

The latest results were achieved with drill hole CH14-28, which was drilled along strike from previous reported mineralisation in drill holes CH14-17 and CH14-18.

According to White Cliff gold mineralisation occurs within multiple shear zones and starts at surface.

 

Copper Gold Zone (CGZ) map showing completed drill-hole locations, roads
in blue, mineralised zones in red hatch. New results in yellow text
box. Source: Company announcement

 

New assay results (CH14-28) include:

5 metres at 4.7 grams per tonne gold from 20m;

6m at 7.5g/t gold from 36m, including 1m at 30.6 g/t gold;

4m at 6g/t gold from 80m;

5m at 2.5g/t gold from 127m and;

2m at 2.3 g/t gold from 148m.

The company believes the new results support its previously results from the CGZ where the first six reverse circulation drill holes identified high-grade mineralisation within two shear zones.

These earlier assay results included:

4m at 13.6g/t gold, including 1m at 30.1g/t from 50m;

3m at 11.5g/t from 36m;

5m at 4.2g/t gold from 55m;

4m at 23.8g/t gold from 85m; and

2m at 22g/t gold from 102m.

“The continued high-grade gold results from drilling demonstrate the outstanding potential of the Aucu gold deposit to develop into a major gold discovery,” White Cliff Minerals managing director Todd Hibberd said in the company’s announcement to the Australian Securities Exchange.

“The company has now confirmed that high-grade gold mineralisation occurs within both the Copper-Gold Zone and the Lower Gold Zone.

“The possibility of further parallel systems remains untested.

“Mineralisation starts at the surface and has been identified to at least 100 metres vertical depth in both systems and is open along strike in both directions.

“The company is currently planning extensive exploration activities for the 2015 field season.”

Email: info@wcminerals.com.au

Website: www.wcminerals.com.au

Titan Energy inks US$50M Joint Development Agreement

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THE ROADHOUSE BOWSER: Titan Energy (ASX: TTE) has signed a Joint Development Agreement for funding of up to US$50 million.

The deal has been struck with a United States-based oil and gas, energy funding partner and exploration and development company (referred to as the Fund) which Titan said had, in the past two years participated in the drilling and development of 38 Texas Gulf Coast salt dome wells.

Effective immediately, the Fund, has committed up to US$50,000,000 in joint development projects with Titan over the next three years.

This funding is to be based upon Titan completing a pilot project currently underway and meeting the Fund’s performance criteria.

Titan explained the initial pilot project consists of the workover and recompletion of five existing wellbores currently being undertaken at the company’s Allen Dome oil project in Texas and the drilling of five new development tests on Allen Dome to begin in February 2015.

Total initial project commitment exceeds US$5,000,000 subject to ultimate well costs during the project.

A second Titan project, slated for funding by mid-2015, is already being prepared for participation by the Fund.

Titan expects the joint development funds from this program will be available early in the second half of 2015.

Titan is currently completing a number of acquisitions across the US Gulf Coast, which meet the Fund’s criteria for development.

“This agreement is a significant development for the company and will undoubtedly have an ongoing impact on Titans shareholder value,” Titan Energy executive chairman Darren Levy said in the company’s announcement to the Australian Securities Exchange.

“The financial capacity that the Fund provides is huge for a company of our size.

“To have the cash flow to pursue all our planned drilling programs is a game-changer.

“At a time when the majority of oil and gas companies are announcing major reductions in their capital expenditure budgets and drilling plans, we are going significantly the other way.”

Email: info@titanenergy.com.au

Website: www.titanenergy.com.au

High Peak Royalties acquires stake in Royalco Resources

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THE ROADHOUSE BOWSER: High Peak Royalties (ASX: HPR) has acquired a strategic 19.99 per cent shareholding in ASX-listed royalty company Royalco Resources (ASX: RCO).

High Peak explained Royalco holds a collection of oil & gas royalty interests across Australia and overseas.

The company’s key royalty interest is a one per cent interest in the Weeks Petroleum Royalty (a 2.5 per cent overriding royalty covering all production from the Bass Strait fields in the Gippsland Basin jointly owned by ExxonMobil and BHP Billiton).

Royalco received $852,792 in royalty payments in calendar year 2014 from its one per cent interest in the Weeks Petroleum Royalty.

High Peak said the acquisition of the stake in Royalco is consistent with its own royalties’ strategy of gaining exposure to interests, adding the deal fits in well with its existing portfolio of oil and gas royalties covering 23 producing areas and high potential exploration areas in Australia, the United States and the Seychelles.

“High Peak Royalties’ shareholding in Royalco provides an indirect exposure to 19 oil and/or gas production permits in the Gippsland Basin operated by ExxonMobil,” the company said in its ASX announcement.

“The permits currently supply 40 per cent of the East Coast of Australia’s gas demand and should be a beneficiary of rising LNG demand.

“High Peak Royalties has no current intention to materially increase its shareholding in Royalco, but does reserve the right to review the level of its shareholding in the future.”

 

Website: www.highpeak.com.au