Capricorn goes digital

CAPRICORN Resources Australia NL, which stirred up the bourse during the drilling of the Emily Ann nickel deposit, has taken the route of its peers by pursuing the cyberspace trail.

After weathering the downturn in the resource sector market, the significant falls in the gold price and issues arising from native title claims on exploration tenements, the revamped board assessed the most appropriate strategy to add value for shareholders.

This involved a sweetheart deal with LionOre Australia (Nickel) Ltd which allowed the company to take a stake in the Lake Johnson nickel belt and in the Maggie Hays deposit.

The company has also adopted a policy of joint venturing all tenements, relocating its office and reducing staff.

After reviewing opportunities, the directors chose the United States-based Inc IT which has licensed its technology for the Asia Pacific region to Limited, a business-to-business commerce system.

The concept seeks to leverage the efficiencies offered by electronic commerce and derive profit from a share of its customers’ increased market and decreased costs.

Its licence extends to Australia, New Zealand, South-East Asia, China and Japan.

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