Archer Exploration filed for provisional patent for Graphene Ink Compositions

Archer Exploration Limited (ASX:AXE) is a company from the metals and mining sector, which is into the business of mineral exploration such as cobalt, copper, gold, graphite and magnesite, announced that it had registered a provisional patent with the Australian Patent Office (IP Australia) relating to graphene ink compositions (inks), methods of synthesizing the inks, and the use of the inks for biomolecular sensing (IP). Archer will be approved to develop materials and technology commercially in the key segment of Human Health through this patent registration.

With the registration, Archer is now the sole applicant of the patent and is also the 100% owner of the patent and IP. This patent application will provide Archer, the earliest possible international filing date where it will have to give a detailed description of the IP and will have a first mover advantage commercially.Â

The technical claims and specifications of the patent need to be verified by Archer by providing access to the ARC Graphene Hub resources and facilities which will provide support, sufficiency, and enablement requirement for the successful grant of national and international patents.

The company will continue working towards the completion of the patent application, and it will take around 12 months for getting the application matured to a standard patent, Innovation Patent, or file a Patent Cooperation Treaty, giving Archer an exclusive right to exploit the biomolecular sensing commercially.

In the second quarter of FY2019 which ended on 31 December 2018, Archer signed an exclusive license agreement with the University of Sydney to commercialize its intellectual property related to room-temperature quantum computing technology. The company already filed for Patents protecting the intellectual property internationally which covered Australia, United States of America, Europe, China, Hong Kong, Japan, and the Republic of Korea.

During the period, the technical development which involved materials transfer for a proof-of-concept biosensor started with the University of Adelaide and a leading biotechnology company to reduce the technology gaps in the biosensor market that can be serviced by printable graphene components.

During the period, the company also entered into a binding Sale Agreement of Sugarloaf farmland for $1.35 million. Under the sale agreement, Archer will sell the entire Sugarloaf farm but will also keep an option to buy back approximately 30% of the Sugarloaf Graphite Processing facility.

The company used A$0.508 million in its operating activities, where the primary source of cash outflow was through a payment made for exploration & evaluation, staff costs as well as administration and corporate costs. By the end of the Q2, FY2019, the company had net cash, and cash equivalent worth A$1.604 million and the estimated cash outflow for the Q3 FY2019 is A$0.700 million.

Since its inception, the stock has generated a positive return of 39.05%. However, in the last six months, the stock generated a negative return of 7.59%. By the closure of the trading on 19 February 2019, the closing price of the share was A$0.077 which was 5.479% above the previous trading day’s closing price. The stock has a market capitalization of A$13.97 million and approximately 191.42 million outstanding shares.

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