October brought new developments in the cannabis and hemp industries, with Georgia’s Hemp Farming Act coming into effect on October 1.

In California, Governor Newsom signed a bill legalizing Amsterdam-esque cannabis cafes, which will allow dispensaries to serve food and drinks and host live entertainment.

Meanwhile, Kentucky held its first lottery for medical cannabis business licenses as the DEA prepared to hold a hearing on rescheduling cannabis, and Vice President Harris included cannabis legalization in her policy agenda.

Keep reading to discover more about these industry-shaping events.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

Fission Uranium (TSX:FCU,OTCQX:FCUUF) has expanded its uranium exploration portfolio in and around Northern Saskatchewan’s Athabasca Basin by staking four additional properties.

According to the company’s Thursday (October 31) press release, the new sites, called Typhoon, Corsair, Merlin and Seahawk, encompass thousands of hectares and are situated near established uranium-producing areas and deposits.

Typhoon, which is located approximately 20 kilometers south of Fission’s flagship Patterson Lake South (PLS) project, covers 3,867 hectares. Geological surveys from past decades, including a 1969 airborne radiometric survey and a 2013 electromagnetic survey, revealed conductors suggesting possible graphitic fault zones.

These zones, common hosts for uranium mineralization, have yet to be drilled. Given Typhoon’s similar geological structure to PLS and its unexplored potential, Fission considers it a promising site for high-grade uranium.

The Corsair property, located 110 kilometers east-southeast of the PLS project, spans 3,481 hectares across three non-contiguous claims. Situated close to Cameco’s (TSX:CCO,NYSE:CCJ) Centennial uranium deposit and near significant fault zones, the Fission team believes Corsair benefits from a favorable geological position.

Historic exploration identified electromagnetic conductors associated with graphitic faults. Although earlier work focused on larger fault zones, Fission intends to evaluate the potential in areas overlooked in previous drilling campaigns.

Merlin, the smallest of the newly staked properties, covers 808 hectares and is located 36 kilometers from Cameco’s Key Lake uranium mill. Previous drilling near the site in 1981 uncovered anomalous uranium concentrations, though additional exploration has been limited. Fission’s preliminary assessment indicates that more focused drilling could yield further insights into Merlin’s resource potential, as the initial results suggest uranium presence in conductive fault zones.

Seahawk, at 6,293 hectares, is the largest of the four properties and lies about 33 kilometers southeast of the Athabasca Basin. It covers a 29 kilometer section of the Needle Falls shear zone, which Fission said is known for rock formations that often host uranium deposits. Previous work encountered mineralization indicators such as cobalt and nickel.

Additionally, radioactive boulder trains near Seahawk, documented in the 1970s, add to the site’s potential for uranium, though Fission notes that the exact source of these boulders remains unidentified.

Ross McElroy, Fission’s president and CEO, said the new properties support the company’s efforts to diversify and expand its holdings in the Athabasca Basin, which is known for its high-grade uranium deposits.

In June, Australia’s Paladin Energy (ASX:PDN,OTCQX:PALAF) announced plans to acquire Fission in a transaction valued at C$1.14 billion. The companies are currently awaiting Investment Canada Act clearance for the deal.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Major pharmaceutical players Eli Lilly (NYSE:LLY), AbbVie (NYSE:ABBV) and Pfizer (NYSE:PFE) reported mixed Q3 results, with each company facing distinct market forces, ranging from supply issues to financial constraints.

In its latest quarterly report, released on Wednesday (October 30), Eli Lilly missed on sales expectations for Zepbound, its popular weight-loss drug, and Mounjaro, its diabetes medication. Despite growing US demand for these products, supply chain management issues impacted the company’s ability to meet Wall Street’s expectations.

According to Reuters, Eli Lilly dropped 8 percent on the news, reducing its market valuation by nearly US$70 billion.

CEO David Ricks said stock management issues with wholesalers were a major factor in the shortfall, noting that distributors were navigating storage and financial constraints that affected order volumes.

Eli Lilly’s Q3 report indicates that Zepbound and Mounjaro collectively contributed US$4.37 billion to the company’s revenues, falling short of analysts’ projections of US$4.89 billion. The company has revised its 2024 profit forecast.

For its part, AbbVie reported a year-on-year decrease in net income, driven primarily by increased operating costs.

The company recorded a 12 percent drop in net income for the third quarter, amounting to US$1.56 billion, while net revenues grew to US$14.46 billion, reflecting a 3.8 percent increase from the previous year.

AbbVie’s CEO, Robert Michael, underscored that the company has seen strong commercial execution and pipeline growth, leading it to increase its guidance for the remainder of the year. He also confirmed a quarterly dividend increase.

In Q3, the company incurred a rise in operating expenses, which totaled US$10.63 billion, up 9 percent from the previous year. The increase was attributed to research and development costs and strategic acquisitions.

AbbVie’s earnings also reflected an increase in pre-tax income, which rose by 5 percent year-on-year to US$2.08 billion for the quarter. The firm’s total revenues for the first nine months of 2024 climbed to US$41.23 billion, marking a 3 percent increase from the previous year, despite some challenges associated with operating costs.

On Monday (October 28), AbbVie announced plans to acquire privately held Aliada Therapeutics, a biotech company specializing in treatments for neurological disorders, for an estimated US$1.4 billion. The purchase will support AbbVie’s commitment to expanding its research and treatment capabilities in neurological and other specialty areas.

Meanwhile, Pfizer reported higher revenues, supported by strong sales of its COVID-19 therapies Paxlovid and Comirnaty.

The company’s quarterly revenues for Q3 totaled US$17.7 billion, up 31 percent year-on-year. This increase contributed to Pfizer’s revised guidance for the year, with projected revenues now estimated at US$61 billion to US$64 billion.

CEO Albert Bourla attributed the company’s performance to steady demand for COVID-19 medications, in addition to cost-control measures implemented during the quarter. A spike in COVID-19 cases contributed to heightened demand for Paxlovid, while Pfizer’s acquisition of Seagen bolstered revenues through additional sales of cancer treatments.

Pfizer’s adjusted financial outlook for 2024 reflects projected sales of up to US$64 billion, with estimated contributions of US$5 billion from Comirnaty and US$5.5 billion from Paxlovid for the year.

The company also reported growth across several key product lines, including Eliquis and Xtandi, though some products, like Xeljanz and Ibrance, saw declines due to regulatory changes and price pressures.

It’s worth noting that activist investor Starboard Value has reportedly acquired a US$1 billion stake in Pfizer, equivalent to 0.6 percent of the company’s total shares. Its aim is to ignite a turnaround at the company.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Piche Resources Limited (ASX: PR2) (“Piche” or the “Company”) is pleased to announce drilling results from a further eight holes at its Ashburton uranium project in Western Australia. Results to date highlight the potential for both high grade and broad zones of uranium mineralisation.

HIGHLIGHTS

• ADD003 has delivered the widest intersection recorded to date with a 39m intersection immediately above the Proterozoic unconformity.
• Equivalent U3O8 concentration from recent drillholes include:

ADD003 39.28m @ 553 ppm eU3O8 from 124.12m

incl 1.28m @ 1,460 ppm eU3O8 from 125.46m

and 0.84m @ 1,184 ppm eU3O8 from 151.54m

and 2.42m @ 2,681 ppm eU3O8 from 155.10m

and 1.90m @ 2,215 ppm eU3O8 from 161.40m

ARC008 3.86m @ 720 ppm eU3O8 from 137.36m

ARCD005 6.50m @ 639 ppm eU3O8 from 115.23m

incl 3.02m @ 930 ppm eU3O8 from 115.23m

ADD005 10.48m @ 1412 ppm eU3O8 from 114.30m

incl 2.04m @ 3508 ppm eU3O8 from 115.72m and 0.50m @ 2911 ppm eU3O8 from 119.28m

4.08m @ 2075 ppm eU3O8 from 141.94m

incl 2.04m @ 2875 ppm eU3O8 from 142.10m

1.04m @ 1918 ppm eU3O8 from 145.80m

1.04m @ 1103 ppm eU3O8 from 148.44m

• Analyses of the drill core has

1. demonstrated a northwest structural control on mineralisation
2. mineralisation along the unconformity and
3. within the overlying sandstone and the basement.

The combined reverse circulation and diamond drilling programme has exceeded the Company’s expectations, having met its original aims of confirming historical results, testing the potential northwest structural control of mineralisation, and expanding the known uranium mineralised envelope.

Results from the drilling are included in Table 1 with the drill hole details in Table 2. In total, 1,776m of reverse circulation drilling and 1,147m of diamond drilling have been completed for a total of 18 holes.

Drilling at Angelo A has confirmed the continuity of mineralisation, identified a steeply dipping mineralised structure and highlighted the undulating nature of the Proterozoic unconformity (Figure 1). A potential northwest trending structure containing uranium mineralisation was intersected between ARC004 and ARC006.

Evidence of a mineralised northwest oriented structure was encountered in ADD001, located over 1km to the northwest of Angelo A. Structural logging of this hole highlighted a shallow dipping (35 degrees) mineralised structural trending to the northwest.

The drilling programme has also confirmed historical drill results from over 40 years ago.

Diamond drill hole ADD003 identified 39.28 metres of uranium mineralisation (Figure 2), highlighting the potential to expand the area of mineralisation at both the Angelo A & B prospects, and along strike to the northwest and southeast.

Click here for the full ASX Release

Livium Ltd (ASX: LIT) (‘Livium’ or the ‘Company’) is pleased to announce that its wholly owned subsidiary Envirostream Australia Pty Ltd (‘Envirostream’) – which is leading Australia’s battery recycling industry – has been awarded a -AS850k grant from the Western Australia (‘WA’) government. This funding will be used to support the development of Envirostream’s battery recycling facility in WA, marking a significant milestone in Envirostream’s efforts to build a nationwide solution for electronic waste (‘e-waste’) management.

HIGHLIGHTS

• Livium has been awarded a -A$850k grant from the Western Australian government
• The grant will be used to partially fund the development of a battery recycling facility in WA
• This grant is being awarded under the WA government’s electronic waste infrastructure grant funding program
• The development of a WA recycling facility is aligned with the Company’s strategic objective of developing nationwide collection, sorting and storage capabilities

The grant will be used to establish a cutting-edge battery sorting and dismantling recycling facility (‘WA Facility’). The WA Facility, will focus on the collection, sorting, discharge and storage of batteries. Batteries will then be transported to Envirostream’s Campbellfield facility for final processing to Mixed Metal Dust (‘MMD’) and other metals. The WA Facility is expected to play a pivotal role in transforming Envirostream’s collection capabilities and service footprint across the country.

The award of the grant follows a rigorous evaluation process by the WA government, who noted the quality, innovation, and potential impact of the WA Facility. The WA government recognises the value it will bring to the community and acknowledged Envirostream’s dedication and commitment to making a positive difference. The grant is subject to entering into a funding agreement with the WA government and customary due diligence checks, which is materially complete.

This grant forms part of the WA government’s broader commitment to e-waste recycling and is part of recently announced A$5.4m in additional grants allocated to support e-waste recycling initiatives across the state. To date, the WA government has allocated -A$10m in grants to boost the local e-waste recycling industry. This commitment underpins the importance of sustainable recycling infrastructure in WA and aligns with the Company’s objectives to drive environmental progress across Australia.

The development of this recycling facility is a core component of Livium’s strategic recycling roadmap. This roadmap envisions a comprehensive national network for battery collection, sorting, and recycling that establishes integrated end-of-life battery processing domestically.

Comment from Livium CEO and Managing Director, Simon Linge

‘This grant from the WA government represents a meaningful step forward in our mission to establish a sustainable national battery recycling ecosystem.

WA’s grants seek to increase e-waste reuse, storage, collection, processing and recycling capabilities, creating jobs and supporting WA’s circular economy. We are grateful for the support and are committed to building a facility that will contribute to a greener future by efficiently managing e-waste and recovering valuable materials. The Company’s long-term recycling strategy also involves the development of battery processing capabilities in WA and other states once minimum collection volumes are met.

By fostering local recycling capabilities, we aim to strengthen Australia’s position in the global battery recycling industry and contribute to a circular economy.’

Click here for the full ASX Release

Allup Silica Limited (ASX: APS) (“Allup” or “Company”) is pleased to announce recent exploration results from its Pink Bark Project in southern WA has demonstrated the project’s potential for rare earth elements (REE), uranium, graphite and kaolin mineralisation.

Key points

Further analysis carried out on samples from Allup’s 2023 drilling program has been returned with the following results:

• Significant uranium results up to 232ppm U3O8 and REE up to 980ppm for total TREE of 1,212ppm.
• Highest grade of 1,985ppm total rare earth oxide (TREO) in fresh bedrock from drill hole PB019, 21 to 22m
• Significant REE anomalism discovered in supergene and bedrock over a 7km x 7km area.
• Kaolin sampling confirms ISO Brightness, grainsize, and XRD mineralogy in four locations at Pink Bark Project.
• Raw insitu kaolin from Pink Bark is comparable to Australian kaolin deposits currently in production and demonstrates a marketable product with possible co-product silica.
• Graphite-rich bedrock intersected in the south of E63/2371, in particular in drill hole PBAC058.

APS carried out additional analysis from samples taken during its November 2023 drilling program at Pink Bark to test the underlying clays of licence E63/2138 for REE potential, and for thick kaolin accumulations over large areas. The holes were drilled to fresh bedrock (blade refusal) where possible, and the bedrock samples were assayed for multi-element geochemistry.

The Albany Fraser Province has recorded several uranium occurrences. The combined rare earth and uranium mineralisation at Pink Bark is very significant. Further drilling is required to test the mineralisation for size and grade potential.

This release focuses on the Kaolin, Uranium and Rare Earth potential of the Pink Bark Project following the results of an air core drilling program that was completed in November 2023.

Introduction

The Pink Bark Project, comprises three granted Exploration Licences and one pending application area, and is located in the Albany Fraser Province’s Biranup zone, north of Esperance. The tenement was acquired to explore and develop silica sand, but numerous recent nearby discoveries of REE clay- hosted deposits prompted Allup to consider the potential for such deposits on its tenement holdings.

The Biranup zone has been shown to be rich in valuable REE by the Geological Survey of Western Australia (GSWA) and modern explorers. A number of ASX-listed companies have reported wide areas of saprolitic clay enriched in rare earths overlying the Biranup late-stage granite intrusive rocks.

These deposits have been compared to China’s clay-hosted REE deposits, which have been a major source of REE for the country’s battery industry. In the Albany Fraser Province a number of carbonatites with rare earth potential have been reported and explored for rare earth mineralisation, and the Biranup granites are also rapidly emerging as a focus for exploration for clay and carbonatite-hosted rare earth deposits.

Kaolin

Allup’s previous work on kaolin at Pink Bark was reported in ASX Release dated 7 May 2024, where a significant Exploration Target was announced. Additional work to define other characteristics were recommended and these are discussed below.

Allup engaged Independent Metallurgical Operations Pty Ltd to complete further mineralology, brightness and yellowness testing on 10 samples from 10 different drill holes.

Based on the test work conducted on the 10 samples from the Pink Bark Project, IMO concludes that the percentage passing 45 µm ranged from 22.7% to 62.4%, averaging 36.7%.

Click here for the full ASX Release

Patronus Resources Limited (ASX: PTN; “Patronus” or “the Company”) is pleased to advise that the Northern Territory Government has approved the amended Mining Management Plan (MMP) for its 100%-owned Fountain Head Gold Project, located in the Pine Creek region 170km by road from Darwin in the Northern Territory.

Highlights

• NT Government approves the amended Mining Management Plan (MMP) for Fountain Head
• Approval of the MMP marks a significant regulatory milestone, unlocking the potential to develop the project
• 2,000m of RC drilling is underway at Glencoe and 500m of diamond drilling is planned to commence at Fountain Head shortly, to test for high-grade extensions to the existing 234koz Resource base
• Updated Mineral Resource Estimate for Fountain Head planned for 2025

Approval was granted by the NT Minister for Lands, Planning and Environment, the Honourable Joshua Burgoyne, for the amended MMP submitted on 13 December 2023. Environmental approval for the project was granted on 17 February 2023 under the NT Environment Protection Act 2019.

The approval of the MMP represents a key regulatory milestone, allowing the Fountain Head Gold Project to advance towards development.

As outlined in its recent activities update on 28 October (see Patronus ASX release 28 October 2024), Patronus has embarked on a 2,500m program of reverse circulation and diamond drilling to extend and upgrade the current 234koz Resource base at the Fountain Head Gold Project, which comprises the Fountain Head (96koz), Tally Ho (59koz) and Glencoe (79koz) gold deposits. Further drilling and an updated Mineral Resource Estimate are planned for 2025.

Patronus Resources’ CEO, John Ingram, said:

“We are delighted with the timely receipt of the MMP approval from Minister Burgoyne, and I would like to thank the NT Government for their efficient management and oversight of this process, which demonstrates their ongoing commitment to support the development of new resource projects in the Territory.

“This is an important regulatory approval which allows us to move the Fountain Head Project forward. We are looking forward to receiving assay results from the current RC drilling at Glencoe and the imminent commencement of diamond drilling at Fountain Head, as part of a new phase of work aimed at expanding and upgrading the current resources to inform future development scenarios.”

Click here for the full ASX Release

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that it is undertaking a partially underwritten accelerated non-renounceable pro rata entitlement offer of new fully paid ordinary shares in the Company (“Shares”) on the basis of one (1) new Share (“New Shares”) for every four (4) existing Shares held, to raise up to approximately A$4 million (before costs) (“Entitlement Offer” or “Offer”).

HIGHLIGHTS

• Blackstone undertaking an accelerated non-renounceable pro rata entitlement offer to raise up to approximately A$4 million.
• Partially underwritten by supportive long term shareholder, Nanjia Capital with $1.65 million firm commitment and underwriting which includes an approximate $1.1m retail underwriting component.
• Opportunity for our existing shareholders to participate in the capital raising on the same terms as the institutional shareholders.

Blackstone Minerals’ Managing Director, Scott Williamson, commented:

“On behalf of the Board and Management team, I would like to thank Nanjia Capital for their ongoing support. We look forward to making further progress on our Manitoba Consolidation Strategy as we finalize the TKR Refinery DFS and complete the joint venture partnering process..”

The Entitlement Offer is supported by major shareholder Nanjia Capital Limited and controlled entities with a firm commitment to subscribe for entitlements under the Institutional Entitlement Offer up to approximately $550k and an agreement to underwrite the Retail Entitlement Offer up to approximately $1.1m (i.e. for a total investment of approximately A$1.65 million).

The Entitlement Offer will comprise the issue of up to approximately 132,714,967 New Shares at an offer price of A$0.03 per New Share (“Offer Price”), which represents a 12% discount to the last traded price of A$0.034 on 30 October 2024 and 5-day volume weighted average price.

The Entitlement Offer comprises:

• an accelerated institutional component open to eligible institutional shareholder to be conducted from Monday, 4 November 2024 to Tuesday 5 November 2024 (“Institutional Entitlement Offer” or “Institutional Offer”); and
• a retail component open to eligible retail shareholders anticipated to be conducted from Monday, 11 November 2024 to Friday, 29 November 2024 (unless extended) (“Retail Entitlement Offer” or “Retail Offer”).

The offer ratio and Offer Price for New Shares under the Retail Entitlement Offer are the same as for the Institutional Entitlement Offer.

Details of Entitlement Offer

Under the Entitlement Offer, eligible shareholders are invited to subscribe for one (1) New Share for every four (4) existing Shares held.

The right to subscribe for New Shares under the Entitlement Offer will be non-renounceable (meaning the entitlements to New Shares will not be tradable on ASX or otherwise able to be sold or transferred). If you do not take up your entitlement in full, you will not receive any value in respect of that part of the entitlement you do not take up.

All New Shares issued under the Entitlement Offer will rank equally with the existing Shares on issue. The Company will apply for quotation of the New Shares issued under the Entitlement Offer.

Westar Capital Limited have been appointed as lead manager to the Entitlement Offer (“Lead Manager”).

Conditions of the Entitlement Offer are detailed in the Prospectus (defined below) released on the ASX platform today and the accompanying Appendix 3B to this announcement.

Institutional Entitlement Offer

Institutional shareholders with a registered address in Australia, New Zealand, Bermuda, British Virgin Islands, Brunei, Canada (British Columbia), Singapore, Germany, Hong Kong, Isle of Man, Thailand, Vietnam or the United Kingdom (“Eligible Institutional Shareholders”) will be invited to participate in the Institutional Entitlement Offer on the terms and conditions set out in the Prospectus (defined below).

The Institutional Entitlement Offer opens at 9.00am (AWST) on Monday, 4 November 2024 and will close at 5:00pm (AWST) on Tuesday 5 November 2024.

Eligible Institutional Shareholders can choose to take up all, or part or none of their Entitlement under the Institutional Entitlement Offer.

Eligible Institutional Shareholders may also apply for New Shares in addition to their entitlement at the Offer Price, to the extent there is any shortfall under the Institutional Entitlement Offer. The remaining shortfall will be offered on the same terms and conditions as the Entitlement Offer.

The Company’s Shares will remain in a trading halt pending completion of the Institutional Entitlement Offer. It is expected that the trading halt will end at market open on Wednesday, 6 November 2024.

Click here for the full ASX Release

Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company”) is pleased to announce, further to its previous announcement on 23 October 2024, that it has now entered into a binding Share Purchase Agreement (“SPA”) to acquire 100% of the issued share capital of 2D Generation Ltd (“2DG or 2D Generation”) (“Acquisition”).

Acquisition to capture enormous opportunities with 2D Generation’s semiconductor technology and the Connecting Chips European Union Joint Undertaking, which includes partners NVIDIA, Valeo, and Applied Materials.

Highlights:

• Adisyn has entered into a binding agreement to acquire 100% of semiconductor IP business, 2D Generation
• Adisyn will leverage 2D Generation’s innovative semiconductor solution to generate opportunities in AI1’s target markets including defence applications, data centres and cybersecurity
• The semiconductor market is thriving as the data and computing power required for generative AI continues to grow exponentially – with the acquisition of 2D Generation, Adisyn will be well positioned to benefit from this significant technological opportunity
• 2D Generation is a partner in the EU’s Connecting Chips Joint Undertaking with research and innovation partners including NVIDIA, IMEC, Valeo, Applied Minerals, NXP, and Unity
• Completion of the previously announced $3m (before costs) capital raise

AI1 entered into a Collaboration Agreement with 2DG, a semiconductor IP business, as announced on 15 July 2024. The companies have since continued to work together and identified significant opportunities to leverage 2D Generation’s semiconductor solutions and industry relationships to enhance AI1’s offering in its target markets, as well as leverage each other’s business partners to improve market penetration.

Adisyn is delighted to advise that the companies have reached binding terms for AI1 to acquire 100% of the issued share capital of 2D Generation Ltd. The key terms of the Acquisition are included in Annexure A of this announcement (Share Purchase Agreement Terms). Completion of the Acquisition remains subject to satisfaction of various Conditions Precedent outlined in Annexure A.

The Acquisition is a critical move forward for AI1’s services businesses for data centres, managed IT, cybersecurity, and generative AI. The Acquisition allows AI1 and 2DG to focus on developing capital- light semiconductor IP solutions for the data centre, cybersecurity, and managed IT business segments rather than competing in the high-capital expenditure (capex) infrastructure space. Based on the Terms of the Acquisition, Adisyn will be able to progress the development and commercialisation of 2D Generation’s unique Intellectual Property (IP).

2DG is a partner in the European Union’s Joint Undertaking, ConnectingChips, which has been specifically formed and funded to fast-track the next generation of semiconductor chips to cope with generative AI’s ever-expanding processing requirements, need for speed, and lower power consumption. 2D Generation’s solution has the potential to substantially improve the efficiency of data centres and generative AI solutions, as well a range of other real-world technological applications. It is generally accepted that the current generation of AI chips will reach their useful limits by 2030 or sooner.

Capital Raise

As announced on 23 October 2024, the Company has received firm commitments to raise $3 million (before costs) for an equity capital placement, which was subject to the entering into the SPA which has now been satisfied (“Capital Raise”). The placement raised $3,000,000 (before costs) through the issue of 60,000,000 Shares at an issue price of $0.05 each (Placement Shares) together with 1 free attaching Option (exercisable at $0.075 within 3 years of Issue) for every 4 Shares subscribed for and issued, representing 15,000,000 Options (Placement Options).

The Placement Shares will be issued utilising the Company’s existing placement capacity under Listing Rules 7.1 (36,351,000 Shares) and 7.1A (23,649,000 Shares), and will rank pari passu with existing AI1 shares on issue. Allotment of the Placement Shares is expected to occur on or around 6 November 2024. The 15,000,000 Placement Options will be issued subject to shareholder approval.

Background to 2D Generation’s Solution

2DG have developed a patented solution allowing graphene coating at sub-300 degrees centigrade, an achievement that has never been successfully completed prior to 2DG. This opens the door to the next generation of semiconductors capable of further miniaturisation, lower power consumption, less heat and greater computational power.

2D Generation’s innovative technology centres around the aim of improving the performance and capabilities of the interconnect.

• An interconnect in a semiconductor refers to the conductive pathways that connect different components or regions within an integrated circuit (IC).
• These interconnects are crucial for the functionality of the IC as they facilitate the flow of electrical signals between transistors, capacitors, resistors, and other elements on the chip.
• Interconnects can be made of various materials, typically metals like aluminium or copper, and they can be implemented in different layers within the semiconductor structure.

The interconnect field has emerged as a critical technological barrier hindering industry progress. Overcoming this challenge is perceived as the ‘Holy Grail’ within the industry, promising accelerated rates and continued miniaturisation. Industry giants recognise that the entity with a viable solution stands to gain a substantial competitive advantage.

Despite large scale investment from major companies such as ASM International NV (ASMI), Tokyo Electron Limited (TEL), Lam Research Corporation and Veeco Instruments, a significant breakthrough in this domain is still elusive.

Enter 2D Generation. With its groundbreaking innovation enabling in-situ ALD graphene deposition on the interconnect at below 300 degrees Celsius. An achievement that has never been done successfully prior to 2DG. This focus on graphene integration sets 2D Generation apart, presenting a disruptive technology that has the potential to reshape the landscape of semiconductor manufacturing.

2D Generation has demonstrated the deposition of graphene using an Atomic Layer Deposition (ALD) machine. This technological breakthrough holds the potential to revolutionise production devices, enabling faster and more advanced chip manufacturing compared to competitors.

2D Generation is continuing to develop the technology with the aim of commercialising via licences with one or multiple major semiconductor manufacturers. In doing so, the developed technologies will aim to align with AI1’s dual track strategy of AI enablement and advanced data centre and cyber security solutions including:

1. Innovative AI Chips: The partnership will focus on creating intellectual property for electronic photonic power and systems on chips (SoC) and their integration into systems in package (SiP) modules.

2. High-Performance Computing: Applications will target AI, data centres, high-performance computing, and other digital industries, including cybersecurity.

3. Environmental Impact: Addressing the scalability limitations and massive energy demands of semiconductors to reduce societal and environmental costs.

Click here for the full ASX Release

Elixir Energy Limited (“Elixir” or the “Company”) is pleased to provide an update on a new resource booking for its 100% owned ATP 2077, located in the Taroom Trough in Queensland, Australia.

HIGHLIGHTS

• Prospective resources of 712 billion cubic feet (2U) booked in Sub-Block B of ATP 2077
• Farmout campaign for the Diona Block (Sub-Block C of ATP 2077) well under way
• Updated contingent resources for ATP 2044 expected before year end