STARCOM (LON:STAR)
SECTOR – TECHNOLOGY
RATING – BUY*
MARKET CAP – £4.3m
CURRENT PRICE – 2.125p#
TARGET PRICE – 3.7p
Equipment order and CFO appointment
NORTHLAND VIEW
Starcom will supply CropX Ltd., an Israeli specialist in real-time agricultural sensors and irrigation management devices, with a number of units based on a modified version of Starcom’s Kylos Air technology. Initial delivery is scheduled for January 2018 with further potential orders, subject to performance, in April-August 2018. Starcom reports that, although confidential, potential order value is “significant in relation to historic revenues for 2017”. Initial development service-related payment has been received. The agreement reached between the two companies follows a lengthy period of joint development. It also demonstrates the adaptability of Starcom's core asset-tracking technology.
Starcom also announces the appointment of Golan Hermolin as Chief Financial Officer with immediate effect, replacing Udi Shenig who will resign from the Board on 30 September. Mr Hermolin will not be appointed to the board at this time.
As Starcom notes, its Kylos air-freight tracking technology has been adapted for agricultural use. CropX (https://cropx.com) is a leader in its field, and received investment from Robert Bosch Venture Capital and sensor specialists Lab IX in April 2016 to develop an improved range of soil sensors.
COMPANY DESCRIPTION
Starcom Group develops and manufactures technology designed for tracking vehicle fleets, equipment, people, containers and merchandise. Starcom specialises in combined cellular/GPS tracking systems for fleet management to both protect the vehicle and driver and locate equipment and people.
SUNRISE RESOURCES (LON:SRES)
SECTOR – MINING
RATING – CORP*
MARKET CAP – £2.7m
CURRENT PRICE – 0.15p
Sale of Junction Gold-Copper Project
NORTHLAND VIEW
Sunrise Resources has sold its Junction Gold-Copper Project to VR Resources, subject to TSX approval.
Sunrise will receive an initial payment of US$10,000 and 50,000 shares in VR Resources. It will receive an additional 50,000 shares in VR should drilling take place, if no drilling takes place within 18 months the project is returned to Sunrise.
A final payment of 250,000 shares in VR will be awarded to Sunrise should VR complete a NI 43-101 compliant Mineral Resource Estimate for the Project. Sunrise will also receive a 3% NSR, 1.5% of which can be brought back for US$500,000 per 0.5%.
This is Sunrise Resources first disposal in line with its new strategy of focusing on its pozzolan and perlite projects and monetising its other interests. The majority of the consideration paid to Sunrise will be in the form of shares in VR Resources allowing it to take advantage of any upside from VR’s other projects including the large-scale porphyry copper-gold system at its Bonita Property, which VR is drilling this summer following over two years of district-scale exploration.
COMPANY DESCRIPTION
Sunrise Resources is an exploration company focused on its 100%-owned CS Pozzolan-Perlite Project, located in Nevada.