Mineral explorer Tasman Resources Ltd. (ASX: TAS) forwarded the recent sales progress achieved by Eden Innovations Ltd. in which Tasman holds 38.93% of its total issued capital.
In an ASX release dated 8 January 2019, Eden Innovation Ltd. (ASX: EDE) declared an extension of the scope of first federally funded highway repair project in Twiggs County, Georgia that includes the use of EdenCrete®. The scope of this contract which commenced in September 2018 increased from its initial requirement of US$525,000 worth of EdenCrete® to an extended estimate of approximately US$660,000. The company expects the completion of the contract by late January or February 2019.
Also, the first three GDOT State funded repair projects for 2018-2019 have been reportedly advertised for tender that are estimated to use ~US$185,000 worth of EdenCrete®. The company further announced the completion of two commercial contracts worth in aggregate US$58,750 for a hard stand area and a warehouse.
On the front of Colorado, Eden Innovation witnessed the substantial hike in commercial and residential sales underpinned by the use of concrete for driveways, slabs, walls, and shotcrete applications. In fact, the company has encountered the repetition of orders from six of its Colorado customers. The company targets to achieve significant growth both in the number of repeat orders and the value of sales, over the next year.
Eden Innovation has several trial programmes lined up for the next couple of months that include a diverse range of application like hardstand areas, marine and coastal projects, concrete slabs for warehouses and other heavy duty applications.
With the tremendous growth in the USA region both on geographic and sales front, Eden aims to ramp up the growth of EdenCrete® sales in the USA over the next two to three years. Now there seems to be a higher probability of Eden’ broader geographic success as the marketing footprint of EdenCrete® expands into Australia and other countries in 2019 and beyond.
In a company’s release to ASX, Tasman Resources has separately announced the discovery of new IOCG-prospective targets in the detailed gravity surveys at Pernatty.
Tasman’s Pernatty Project is located about 20km SSE of the IOCG deposit at Carrapateena. Its targets are situated within an interpreted prospective “corridor” which also contains Olympic Dam, Wirrda, BHP’s recent Oak Dam West discovery and Oz Mineral’s deposits at Carrapateena, Fremantle Doctor and Khamsin.
The geophysical modeling has highlighted many distinctive anomalies at Pernatty. Tasman further told that when this gravity data was combined with its existing magnetic, it has returned a possibility of several IOCG target areas at relatively shallow depths. So far, no drilling activities have been undertaken within these tenements, said Tasman.
In today’s trading session, Tasman’s stock edged up 1.587% to last trade at $0.064 on 8 January 2019. Over the past 12 months, the stock has fallen 39.89%, but the stock has witnessed a positive price change of 8.62% in the past three months.
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