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Nanollose Limited and Estrella Resources Limited released their quarterly reports on 29 April 2019 for the quarter ending 31 March 2019.
Nanollose Limited
An innovative firm based in Australia, Nanollose Limited (ASX:NC6) is engaged in producing âPlant-Freeâ Cellulose using an eco-friendly fermentation process. This eco-friendly cellulose is a better alternative to conventional plant-derived cellulose fibres. The company is headquartered in Nedlands, Western Australia and headed by Mr Alfie Germano, CEO and Managing Director of Nanollose.
The company announced its quarterly report including its cash flow statement for the period ending March 2019.
During the quarter, the second pilot scale production of Tree-Free fibre, Nullarbor⢠was successfully completed by the company. The company also produced a new fibre during the production process that can be used in the nonwoven applications. Nullarbor⢠fibre is produced using the existing industrial techniques and equipment available with the company. It is having a crimped shape, an antistatic coating and a whitening agent.
The company collaborated with RISE Processum, MoRe Research and Umea? University to conduct a six-month project entitled âBacterial nanocellulose, production and application testingâ. The project aims at:
- Enhance production of microbial cellulose by up-scaling stirred-tank reactors
- Comparing the microbial cellulose produced with other nanocellulose materials
- Carrying out production and evaluation of cellulose acetate from microbial cellulose
In the coming months, the company will focus on increasing the scale of microbial cellulose production, partnering with a commercial fibre manufacturer for the production of Nullarbor and converting the existing and future stockpile of microbial cellulose into Nullarbor⢠fibre.
In the companyâs cash flow statement, the cash and cash equivalents at the end of the quarter were recorded at approximately A$1.5 million while A$268,000 were paid to the directors of the entity and their associates.
The companyâs stock traded last on 24th April 2019 at $0.067 with 52-week high and low value being AUD 0.067 and AUD 0.067 respectively.
Estrella Resources Limited
Estrella Resources Limited (ASX:ESR), an Australia-based metals explorer released its quarterly activities and quarterly cashflow report.
During the quarter, the company focussed on Carr Boyd Layered Complex, the Munda Gold Project and the Spargoville Nickel Project.
At Carr Boyd Layered Complex (CBLC), the Programme of Work (POW) application was submitted by the company. This application was requested to drill the two exploration targets - Target 5 and Target A EM identified during Phase II moving loop HPEM survey conducted in late 2018. The company anticipates testing of Target 5 (defined approximately 100m south of the newly defined EM conductor) in June Quarter 2019 post the POW approval.
During the quarter, a review was undertaken by BCM to re-activate Munda Gold Mine to maximise the potential of the Munda Gold Asset. On 2nd April 2019, the Company partnered with Blue Cap Mining Pty Ltd for the development of its high-grade Munda Gold Project. Drilling at Munda Gold Mine is expected to be conducted in the current quarter post the POW approval.
The metallurgical test work conducted during the quarter under Spargoville Nickel Project gave favourable preliminary results. The results indicated the presence of elevated platinum group and cobalt mineralisation.
Mr Les Pereira was appointed as the new Director and Chairman of Estrella Resources Limited. Also, GTT Ventures was hired as the Corporate Advisor. The company issued 30,769,231 listed $0.05 exercise options to GTT Ventures expiring on June 2021 as a portion of their advisory fees.
The company reported a cash balance of A$504,000 at the end of the quarter.
The stock of Estrella Resources last traded flat at AUD 0.013 on 26th April 2019. 294,041 number of shares were traded on ASX.
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