Investment Matters

Company News: Deep Yellow, Threat Protect and Aveo Group

Deep Yellow released its quarterly activity report for June. Drilling at Tumas 1 within its Reptile Project has identified 3km of continuous calcrete mineralisation.  A further 60 km of targets remain to be tested at the project, with 11 km of drilling approved in FY-20.  Furthermore, a 7 km drilling program will commence in August at the Nova JV project in August of this year. 

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Threat Protect announced that it has appointed a new chief financial officer (CFO) in Mr Brad Kobus.  Mr Kobus, a CA with over 20 years of experience will replace Ms Karen Hayes as CFO from the 1st of August 2019.

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Aveo Group provided an update on its strategic review process.  As clients are aware, a non-binding, indicative, conditional proposal has been made by private equity firm Brookfield Partners for a whole of company transaction.  Aveo has made significant progress in negotiating with Brookfield and is looking to enter into definitive agreements that will lead to a Scheme of Arrangement. We will continue to update clients as to any progress.