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.
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.
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.