In addition, the Company advises that it has completed its technical due diligence following the aerial surveys successfully conducted over the Perth metropolitan area and south-west region of Western Australia using the revolutionary Spookfish camera system technology.
The Company was encouraged by the results of the aerial surveys and the performance of the Spookfish Technology Demonstrator. Dr Peter Kovesi, Research Professor and member of the Geophysics and Image Analysis Group at the Centre of Exploration Targeting at the University of Western Australia, independently verified the flight tests and survey results.
The Company now looks forward to further rigorous testing of the Spookfish technology and developing the Spookfish commercial offering.
It is anticipated that the acquisition of Spookfish Pty Ltd and Geospatial Investments Pty Ltd as well as the Company’s compliance with Chapters 1 and 2 of the ASX Listing Rules will be completed in the coming weeks. The Company will continue to update the market and advise of the anticipated date for recommencement of trading in the Company’s shares as soon as possible.