Proactiveinvestors USA & Canada Vault Intelligence Ltd https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Vault Intelligence Ltd RSS feed en Fri, 24 May 2019 04:09:18 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Credo Resources Ltd to bank $4.3M for Vault technology transformation ]]> https://www.proactiveinvestors.com/companies/news/134944/credo-resources-ltd-to-bank-43m-for-vault-technology-transformation-68973.html Credo Resources Ltd’s (ASX:CRQ) public offer to raise a capital of $4.3 million has been oversubscribed, ahead of a reverse takeover deal of software company Vault GRC.

The consideration for the acquisition is 250 million Credo shares, valued at $7.5 million as per Credo’s last traded price.

Vault is an established provider of environment, health and safety (EHS) solutions in Australia and New Zealand through a suite of cloud based and mobile solutions for corporate and SME markets.

Adding interest, Vault has established strategic alliances with Samsung, Spark (NZE:SPK) and Crowe Horwath (ASX:CRH) to help expand its businesses.

The vendors will receive additional 75 million Credo shares if Vault generates recurring revenue of $1.4 million for the financial year ending 30 June 2016.

Credo Resources will be renamed Vault Intelligence Limited on completion of the acquisition and will relist with the ASX code VLT.

The company is working with ASX to satisfy the requirements for readmission to quotation, with a view to resume trading on ASX on or prior to 30 June 2016.

The share price of Credo has increased by about 50% since January 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 02 Jun 2016 10:00:00 -0400 https://www.proactiveinvestors.com/companies/news/134944/credo-resources-ltd-to-bank-43m-for-vault-technology-transformation-68973.html
<![CDATA[News - Credo Resources to acquire Vault GRC business ]]> https://www.proactiveinvestors.com/companies/news/134943/credo-resources-to-acquire-vault-grc-business-67049.html After completing due diligence, Credo Resources (ASX:CRQ) will acquire 100% of NGB Industries Ltd, operator of the Vaultgrc software business which is an established provider of environmental, health and safety solutions.

The business operates through a suite of cloud based and mobile solutions for corporate and SME markets.

Credo will lodge a prospectus and seek to raise a minimum of $4.3 million for Vault to capitalise on an emerging growth sector for cloud and mobile solutions.

Vault Alert allows employees to log incidents, hazards, near misses, observations, and manage corrective actions all from their mobile device in real time with the capability to take photos so that employers are notified of events immediately.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 16 Feb 2016 15:00:00 -0500 https://www.proactiveinvestors.com/companies/news/134943/credo-resources-to-acquire-vault-grc-business-67049.html
<![CDATA[News - Credo Resources uncovers broad gold anomalies in Burkina Faso ]]> https://www.proactiveinvestors.com/companies/news/134942/credo-resources-uncovers-broad-gold-anomalies-in-burkina-faso--35019.html Credo Resources (ASX: CRQ) has discovered two extensive gold anomalies at its Tyegana 1 permit in Burkina Faso in a recent soil geochemical program covering the full extent of the permit.

The first is a 4 kilometre long by 1.4 kilometre wide anomaly along trend from West African Resources’ (ASX: WAF) Sartenga copper-gold discovery, where grades of up to 6.9 grams per tonne (g/t) gold and 1% copper have been found.

A second, strike parallel gold anomaly (Tanyoko North trend) was outlined 1 kilometre to the north-west of the main anomaly and extends over 6 kilometres in length.

It is clear the Tanyoko-Sartenga trend and its coincident magnetic structure are continuations of West African Resources’ Sartenga copper-gold anomaly, and extends the Sartenga anomaly for a further 4 kilometres.

Both geochemical anomalies at Tyegana 1 are of major interest to Credo and represent the next immediate targets to be drilled.

Prior to drilling a detailed aeromagnetic survey will be flown to assist in target generation and prioritisation.

The airborne survey will be undertaken within the next two months, with drilling scheduled to begin in January or February 2013.


Burkina Faso exploration

Credo has 16 permits under option or application covering 2,715 square kilometres of gold endowed Birimian greenstone belts in Burkina Faso.

They cover the Djibo Greenstone Belt in the north, host to the Inata gold mine, and the Boromo Greenstone Belt in central Burkina Faso, host to the 1.7 million ounce Bissa and 1.1 million ounce Kalsaka gold mines.

Tyegana 1, along with the Zaongo and Taonsgo permits, is located in the south-east portion of the Boromo Greenstone Belt and covers regionally significant structures extending southwest from the 2 million ounce Taparko and 10 million ounce Essakane gold mines.


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Fri, 26 Oct 2012 12:50:00 -0400 https://www.proactiveinvestors.com/companies/news/134942/credo-resources-uncovers-broad-gold-anomalies-in-burkina-faso--35019.html
<![CDATA[News - Credo Resources in pre open pending capital raising details ]]> https://www.proactiveinvestors.com/companies/news/134941/credo-resources-in-pre-open-pending-capital-raising-details-25756.html Credo Resources (ASX: CRQ) has been granted a trading halt by the ASX pending the release of details surrounding a proposed capital raising, with the company's shares placed in pre-open.

Credo has not yet indicated where the potential capital injection will be allocated, but the company has recently been very active in Burkina Faso - and has had some initial exploration success.

Sampling is continuing, but earlier in the month the company announced that it had identified a gold-in-soil anomaly with a peak value of 654ppb gold. The anomaly appears to be extensive, and extends for over 1.2 kilometres in strike length at above 20ppb.

Credo said at the time that the anomaly appears to be open in a number of directions, with more results forecast for delivery in the short term.

The halt will last until the earlier of the announcement being made to the market, or the opening of trade on Thursday 1 March.

 

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Tue, 28 Feb 2012 09:00:00 -0500 https://www.proactiveinvestors.com/companies/news/134941/credo-resources-in-pre-open-pending-capital-raising-details-25756.html
<![CDATA[News - Credo Resources discovers gold in soil anomaly in maiden sampling in Burkina Faso ]]> https://www.proactiveinvestors.com/companies/news/134940/credo-resources-discovers-gold-in-soil-anomaly-in-maiden-sampling-in-burkina-faso-25684.html Credo Resources (ASX: CRQ) is having some exploration success at the recently acquired Burkina Faso based permits, where importantly artisanal gold workings highlight known gold in the area.

Sampling is continuing, and to date has produced a gold-in-soil anomaly with a peak value of 654ppb gold. The anomaly appears to be extensive, and extends for over 1.2 kilometres in strike length at above 20ppb.

Credo added that the anomaly appears to be open in a number of directions, with more results forecast for delivery in around a week.

Robert Kirtlan, a director of the company, commented: “it is exciting to see positive results from our very first sampling program.

"The financing arrangement with Credo was finalised on 30th November 2011, soil sampling programs commenced in December, and first results received in February. This demonstrates the excellent support services we can access in Burkina Faso."

Highlighting the prospectivity of the area, the permit Tyegana‚Äź1 is along the same structural corridor as the Taparko gold mine which hosts 1.2 million gold ounces, and Essakane with 9 million gold ounces.

 

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Fri, 24 Feb 2012 16:10:00 -0500 https://www.proactiveinvestors.com/companies/news/134940/credo-resources-discovers-gold-in-soil-anomaly-in-maiden-sampling-in-burkina-faso-25684.html
<![CDATA[News - Credo Resources eyes gold acquisition in Birimian Province in Burkina Faso ]]> https://www.proactiveinvestors.com/companies/news/134939/credo-resources-eyes-gold-acquisition-in-birimian-province-in-burkina-faso--20619.html Credo Resources (ASX:CRQ) is working towards expanding its gold portfolio with plans to acquire a 100% interest in private company Riverglide Investments, which holds extensive interests in gold permits in Burkina Faso.

The company has entered into an agreement to acquire Riverglide in exchange for 6 million Credo shares and 5 million options exercisable at A$0.25 with a five year expiry upon shareholder approval of the deal. Based on Credo’s last traded price, the 6 million shares are worth about $1.1 million.

Credo’s investment in a number of gold exploration opportunities in the Birimian Province of West Africa is largely due to it being a proven world class gold province, an under-explored geological environment and highly prospective for further gold discoveries.

The investment provides Credo with access to immediate drill targets as well as good infrastructure and locally based experienced exploration and mining service providers.

Credo said the area has similar gold styles, geochemistry and weathering to its current gold projects in the Eastern Goldfields of Western Australia and it offers low entry costs compared to other gold opportunities in Australia and Southeast Asia.

The company is initially acquiring Riverglide’s rights to three permits in Burkina Faso, and is continuing to negotiate the rights with the local vendor and the Ministry of Mines for a further four that are subject to renewal and five that are subject to permit grant.

Riverglide has also applied for three permits in its own name. These permits are all located along and within greenstone belts within Burkina Faso and in many cases are host to recent artisanal gold workings as evidence of their gold endowment.

The Tyegana 1 permit is located in the Bissa gold belt. A recent field trip has located a group of artisanal gold workings over a strike length of 500 metres.

These gold workings are along a shear system through strongly chlorite altered and veined sediments and basalts and do not appear to have been drill tested. These zones have been mapped and represent a likely drill target for Credo in the first year’s exploration program.

The exploration budget proposed by the Credo is focused on rapidly evaluating a number of permits and targets while drill testing the known gold workings.

A program for the first 12 months has been planned which will include $550,000 for reverse circulation and rotary air blast drilling, $100,000 for soil sampling programs and $100,000 for aeromagnetics/geophysics.

During the last 10 years gold production in West Africa has increased by more than 50% as a result of the large number of major gold discoveries in excess of 1 million ounces. West Africa now ranks as the seventh largest gold producer in the world and at the current rate of expansion, may well rank second to China in the next decade.

Within West Africa, Ghana remains the largest gold producer, while countries such as Mali and Guinea have doubled their production. Burkina Faso, Cote d’Ivoire, Mauritania, Senegal, Niger, Sierra Leone and Nigeria are also rapidly increasing production.

While Burkina Faso hosts 22% of the Birimian Super Group, it only produces 7% of the gold. This discrepancy may reflect the lack of sustained exploration activities in the country over the past decade, and be a sign of the opportunities for Credo to be a successful gold explorer.

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Wed, 12 Oct 2011 09:52:00 -0400 https://www.proactiveinvestors.com/companies/news/134939/credo-resources-eyes-gold-acquisition-in-birimian-province-in-burkina-faso--20619.html