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Motopia to take digital assets to market, continues advance into resources sector

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Motopia (ASX: MOT) has begun its diversification into the high value resources sector, and as it advances its entry is continuing its strategic review of its existing digital assets, specifically its Lemon and Lime platform.

The company is expecting to net considerable revenues over the next 18 months by completing the development of the Lemon and Lime product and taking it to market.

Under its strategy to do this, Motopia has engaged a South Australian mobile development studio, Nextfaze, to complete the development of the Lemon and Lime platform, with work due for completion in within the coming two months.

To realise revenues from the product, the company has entered into a distribution agreement with TAPSA that will see Motopia retain 100% ownership of the platform.

TAPSA’s managing director, Todd Place, has more than 17 years of IT distribution experience, onselling leading brands such as IBM, HP, Microsoft and Apple.

More recently the company has spent the past 24 months contracted with a world leading telematics provider.

Under the distribution agreement, TAPSA will be responsible for sales and marketing of the platform and all related outgoings.

After an initial royalty free period, TAPSA will then pay Motopia a monthly royalty.


First foray into resources sector


Motopia is proposing a name change to ausbase minerals as part of its first foray into the resources sector.

Just last week the company inked a heads of agreement with Cyprus-based Treasure Developments for the acquisition of several high grade copper-nickel-gold mining interests in the Republic of Cyprus.

The 60 square kilometre tenements host a number of exploration targets where there is exposed copper, gold, silver, nickel and zinc mineralisation.

Historic assays have delivered high grade copper of up to 19.06% and recent surface sampling suggests the gold is widespread with high grades of up to 17 grams per tonne (g/t) gold.


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Quick facts: Motopia

Price: 1.56 AUD

ASX:MOT
Market: ASX
Market Cap: $269.89 m
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