Archer Exploration appoints quantum technology specialist
The company aims to develop intellectual property from the University of Sydney.
Company
ASX:AXE
Archer is a quantum technologies company developing solutions for next-generation computing, advanced sensing, and breakthrough medical applications.
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The company aims to develop intellectual property from the University of Sydney.
Hardware & electrical equipment
Shares in the company are up 29% intraday, last trading at 8.4 cents per share.
The upcoming Blue Hills Copper Gold Project drilling and Quantum Technology development work are now fully funded.
The company is focused on quantum technology, human health, and reliable energy.
The company’s chairman confirmed Archer is considering divestment alternatives for its non-graphite assets.
The spin-out to a newco is no longer on the cards.
The company, which is spinning out its exploration assets, will draw on printable graphene components derived from its Campoona graphite deposit in South Australia.
A geology team is on site implementing a high-level exploration plan to determine an inaugural drilling program.
The halt will remain in place until Monday 11th December 2017.
Field work has commenced with results expected during the coming months.
The worldwide consumption of graphene is expected to grow exponentially.
Archer raised $1.89 million this month from a share placement.
The project is located in a highly prospective area for cobalt.