ASX Tech Stocks: Quantum chip developer Archer Materials jumps again on plans to divest mineral tenements
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Semiconductor player Archer Materials (ASX:AXE) leads the tech stocks today, up 24.89% after announcing it will put plans to divest its mineral tenements to iTech Minerals Ltd to shareholders.
Under the sale agreement, Archer will sell all of its remaining mineral exploration projects to iTech, in return for 50 million iTech shares – which the company intends to distribute to Archer shareholders (in-specie distribution).
Shareholder approval and in-specie distribution will allow Archer to become a pure-play deep-tech company focused on developing and commercialising advanced semiconductor devices, including the world- first quantum computing qubit processor chip, 12CQ.
The company also announced today its graphene-based biochip patent application has progressed to the National Phase of the patent granting procedure and has been filed in the US.
Archer has also sought National Phase entry in Australia for the biochip related patent application and says the patents are key to successful commercialisation in the semiconductor industry and will allow for value creation through any future technology development, licensing, monetisation, and transactions for revenue generation.
Today’s gains continue a recent surge for AXE shares, which have now almost doubled since the company announced patent approval in South Korea last Tuesday.
Imdex Limited (ASX:IMD) +8.89%
Global mining tech company Imdex was up 8.89% after a strong financial year, with record revenue of $264.4 million (up 11.2%) after acquiring AusSpec and its aiSIRIS software to enhance real-time rock knowledge offering with spectral mineralogy and AI technologies.
The company also signed three joint development agreements to support new product development, and had a record number of rock knowledge sensors on rent – up 52% and 35% on pre-COVID peak – during FY21.
The company was up 4.35% off the back of news it plans to expand its Australian drone-based services by acquiring Arvista Pty Ltd – a Perth based provider of aerial and terrestrial surveying services for the mining, engineering and construction industries.
Delta Drone will initially acquire 60% of Arvista for a purchase price of around $960,00 (based on an enterprise value of $1.6 million), in a combination of cash and scrip, with a Call Option to acquire the remaining 40% of Arvista in the future.
“We look forward to not only growing with the Arvista team, based on their experience and relationships in Western Australia, but to also assist Arvista in expanding their scope beyond pure surveying,” Delta Drone CEO Christopher Clark said.
The company’s expanded plans include the “full range of drone-as-a-service products that DLT currently offer our multinational mining clients in the international arena, such as AI-based model analysis, security & surveillance, blast monitoring and asset inspection”, Clark said.
Mobilicom (ASX:MOB) unchanged
Mobilicom’s share price was unchanged today despite news it has launched the ICE Cybersecurity Suite – which is a world-first AI-based 360° Cybersecurity Suite for drones, robotics that can detect, prevent, and respond to multiple cyber threats in real-time without requiring an operator.
The ICE cybersecurity solution protects against more than 10 different types of cyber breaches and malicious attacks including jamming and will be offered as an add-on software licensing module.
Brainchip Holdings (ASX:BRN) – 4.67%
The AI processor technology company was down 4.67% today after announcing it has submitted a capital call notice to LDA Capital Limited and LDA Capital LLC (LDA) to subscribe for up to 8,750,000 shares.
As of the date of the capital call notice, available funding under the agreement amounts to A$34.2 million while the company is committed to drawing down a minimum of $9.2 million no later than 22 October 2021.
“The proceeds raised from the capital call will be used to strengthen the company’s balance sheet and is intended to support ongoing efforts to commercialise the company’s groundbreaking Akida technology,” Brainchip founder and CEO Peter van der Made said.
“Proceeds will also be used to strengthen the sales and marketing team in anticipation of the launch of Akida later this year, as well as increased focus on customer engagement and investor relations activities in Australia, the US and Europe.”