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AXE - ARCHER MATERIALS LIMITED


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Sale of all mineral tenements

 

Highlights

• Archer executes a legally binding agreement to sell all of the company's mineral tenements

• At completion of the sale, Archer will receive 50 million shares in the capital of the buyer

• Share Consideration to be distributed in-specie to Archer shareholders.

• Tenement sale and purchase is subject to certain conditions precedent, including the buyer listing on ASX and Archer shareholders' approval of the transaction and the Share Consideration distribution.

• The buyer expects to list on ASX before September 2021.

• The Company’s business is simplified with Archer to become a pure play deep technology company.

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where are we at?

 

 

a long way to finality ... lots of stuff beforehand (not getting too technical there)

 

Quantum algorithm development, testing, and validation is an essential part of the early-stage development and commercialisation of the 12CQ chip because it links the chip operation to end use applications.

 

Highlights

• Archer progresses quantum algorithm development for Artificial Intelligence applications of its 12CQ quantum computing processor chip.

• The Company is working on optimising Quantum Neural Networks, which could be relevant to consumer and enterprise-scale AI technology products.

• AI is set to transform the productivity and GDP potential of global economies.

• AI is one of many future applications for the 12CQ chip, and Archer will explore other applications such as blockchain, space, autonomous cars and cybersecurity.

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  • 2 months later...

running hard and fast.....

50c in Jan, made it to a dollar in July, at $1.50 at the start of last week and surging to near $3 today ......

 

Over the 12 months to June 30, Archer posted an operating cash loss of $2.3 million on zero sales. Staff costs for the year totalled $1.78 million with administration costs of $750,000.

 

The chairmans salary from July 1, 2020, of $370,000 accounted for about 14 per cent of the company's total annual cash expenses. The chairman and chief executive salary of $251,850 combined equalled 24 per cent of total expenditure over the year.

 

In other words, the tech company boasting a $655 million market value has only a handful of staff, no product, and spent just $2.6 million in operating expenses last year.

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iTech Minerals Ltd (ITM) is a newly incorporated company targeting the acquisition, exploration and development of all the mineral exploration assets currently owned by Archer Minerals Limited (ASX: AXE). These assets include industrial (kaolin and halloysite) mineral and battery mineral projects. Archer is disposing of these assets due to a change of its focus from minerals exploration to advanced technology.

 

The Projects to be acquired by the Company consist of tenements and tenement applications which are held by subsidiaries of Archer. Upon completion of the IPO those subsidiaries will be wholly owned subsidiaries of iTech Minerals Ltd.

 

The Projects consist of exploration licences, a mining lease, miscellaneous purpose leases and exploration licence applications in South Australia. The Company may also acquire interests in a further 2 exploration licences in New South Wales, subject to the relevant Minister’s consent.

 

The Company has Projects in the following areas:

  • ... The Eyre Peninsula region of the Gawler Craton in South Australia
  • ... The Nackara Arc in South Australia
The New South Wales Projects in which the Company may acquire an interest, subject to the relevant Ministerial consent, are the South Cobar Basin Project and the Stanthorpe Project.

 

It is anticipated that ITM will list on the ASX during October 2021.

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coming back for a second run .... up 15% to $2.30

 

US patent granted for 12CQ quantum computing chip

Highlights

• Archer reaches its most significant early stage commercialisation milestone with the granting of a US patent for the 12CQ quantum computing chip.

• The patent grant protects Archer’s 12CQ chip technology IP and allows the Company to explore opportunities to work with quantum computing partners in the US.

• US companies are considered to be the dominant force driving innovation in the semiconductor and computing industries.

• Archer is the only ASX listed company and one of a few players in the world with a patent portfolio protecting a qubit processor chip technology in the semiconductor industry

 

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Archer Materials has tapped Canaccord Genuity and Taylor Collison to raise $15 million via a placement.

 

The offer was priced at $1.45 a share which is a 16.4 per cent discount to the last traded price, according to a term sheet sent to investors. The placement in not underwritten.

Archer also plans to raise $5 million via a share purchase plan to shareholders, also priced at $1.45 a share and not underwritten.

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  • 3 months later...

after having its quantum chip run and bursting out from 90c in July to a high above $3.00 in August, there has been a slow and orderly / disorderly retreat to around $1.00

Today this news has pushed AXE back up to close at $1.36, a 30+% lift.

Graphene integrated with silicon electronics

  • Archer addresses a key nanotech challenge in its biochip development by successfully integrating single atom thick graphene on a silicon wafer.
  • Archer intends to use graphene as an ultrasensitive sensor for detecting and analysing diseases.
  • The biochip has been developed in house by Archer staff and Archer owns 100% of the biochip technology intellectual property.  

Archer

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