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TASMAN RESOURCES LTD Capital/Financing Update 2019
65896_rns_2019-08-18_1059e8e8-a1cc-46bd-a8ee-f6414433dedc.pdf
Capital/Financing Update
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ACN 009 253 187
AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT
19 AUGUST 2019
EDENCRETE® - GEORGIA SALES & MARKETING UPDATE
Please see attached an ASX Announcement by Eden Innovations Ltd (ASX: EDE) for further details.
Background
Tasman through its wholly owned subsidiary, Noble Energy Pty Ltd, holds 624,334,707 fully paid shares in Eden representing 37.49% of the total issued capital of Eden Innovations Ltd and 14,814,815 EDEOB options (representing 21.26% of the issued EDEOB options).
Aaron Gates Company Secretary
ACN 109 200 900
AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT
19 August 2019
EDENCRETE® - GEORGIA SALES AND MARKETING UPDATE
HIGHLIGHTS
- GDOT- Second FHWA/ GDOT Funded Repair Project to commence in September – Estimated Value US\$257,300
- GDOT State Funded Repair Projects for FY 2019/20 Estimated Value US\$352,900
- GDOT- First bridge trial in Georgia to commence in October 2019
- First Georgia ready-mix operator to market standard EdenCrete® mix
DETAILS
Second FHWA/ GDOT Funded Repair Project to Commence in October
The second highway repair project in Georgia, to be jointly funded by the Federal Highway Administration (FHWA) (80%) and the Georgia Department of Transportation (GDOT)(20%), which will include EdenCrete® in the concrete mix, is scheduled to commence in October 2019 following completion of trials to confirm it meets the required specifications.
The US\$17.4 million project involves the replacement of numerous sections of concrete pavement along 17.35 miles of Interstate Highway I-285 and State Road SR 407 in Fulton and Cobb counties. The initial specifications for the project are that it will involve the replacement of approximately 5,146 cubic yards of concrete, requiring approximately 10,292 gallons of EdenCrete® worth US\$257,300.
However, as with the first FHWA jointly funded project, where the initial scope of the project was expanded by almost 40%, Eden has been advised that the scope of this new project is also likely to be expanded by perhaps 30% - 40%. Eden will install bulk tanks at the two ready mix plants where the concrete for the project is be batched.
GDOT State Funded Repair Projects for FY 2019/20
GDOT 2019-20 Highway Repair Budget
Total GDOT state funded budget for highways FY 2019/20 is US\$121,015,972, a 1% increase on last year. Of this, the budget for concrete repair projects for the year is \$9,411,795.
Currently it is planned that these repair projects will involve the replacement of approximately 7,058 cubic yards of concrete, requiring an estimated 14,116 gallons of EdenCrete®, which would generate approximately \$352,900 in revenue.
Currently it is planned that these projects will all take place during the first three quarters of this financial year, with the currently estimated timetable and budget (all of which are subject to variation) being:
The details of the first two State-funded GDOT projects that are scheduled (both will which be on different sections of Interstate Highway I-20/ State Road SR 402) are:
I-20/ SR 402 Project
The first GDOT State funded highway repair project for the current financial year is scheduled to commence on 19 September 2019. This project involves the replacement of approximately 800 cubic yards of concrete that will require approximately 1,600 gallons of EdenCrete® worth an estimated US\$40,000.
I-20/ SR 402 Project
The second GDOT State funded highway repair project for the current financial year is scheduled to advertised for bids in October 2019. This project will involve the replacement of approximately 2,100 cubic yards of concrete that will require approximately 4,200 gallons of EdenCrete® worth an estimated US\$105,000.
GDOT- First EdenCrete® bridge trial in Georgia scheduled for November 2019
GDOT has been looking for a suitable bridge trial for EdenCrete® and has identified one on a bridge across Little River in northern Georgia that will test EdenCrete® in the new concrete decking being installed. The project is ready to commence (see figure 1).
EdenCrete® will be tested in the new concrete decking on either one or two spans of decking that are to be installed. It is anticipated that the new decking will be installed in approximately two months.
The repair or replacement of bridges forms a very large part of the GDOT activities. There are a total of 14,750 bridges in Georgia, the state with the largest land area east of the Mississippi River. Of these bridges, 6,736 are state- owned, and 8,014 are locally- owned.
GDOT inspects all bridges every two years and runs both a Design-Build Bridge Replacement Programme to replace or update local bridges deemed structurally deficient as well as a Local Bridge Programmes comprising GDOT's Low Impact Bridge Program (LIBP) and Local Bridge Replacement Program (LOCBR).
In 2015, the Federal DOT estimated that 2,600 bridges in Georgia were structurally deficient of functionally obsolete (see attachment).
Figure 1. Bridge over Little River where EdenCrete® is to be trialled in bridge decking
Below is a link1to a recent list of GDOT bridge projects that are being planned or are underway and which gives some idea of the number and value of such projects and the potential significance of the forthcoming EdenCrete® bridge trial.
1 www.garivers.org/images/Water Trail Website/Bridge_Projects_final.pdf
First Georgia ready-mix operator commences marketing standard EdenCrete® concrete mixes
Eden has secured its first Georgia based ready-mix operator that has developed a standard concrete mix incorporating EdenCrete® products and intends to market it on a regular basis.
This follows similar success in Colorado, where after the development by one ready mix operator of an EdenCrete® enhanced concrete mix, other ready- mix operators have done the same, leading to rapidly increasing EdenCrete® sales.
Attachment
US DOT- transportation.gov/briefing-room/dot-fact-sheets-highlight-grim-state-us-roads-and-bridges
EdenCrete® Background
EdenCrete® is Eden's 100% owned, proprietary carbon-strengthened concrete additive, that improves many of the performance characteristics of concrete making it highly suitable for use in the construction and maintenance of concrete roads, bridges, dams, railways, airports and other infrastructure.
EdenCrete® is already in regular commercial use in the USA in ready-mix concrete, shotcrete and precast operations and has a wide potential for use in many concrete applications including for high-rise building construction, marine and coastal applications, applications in locations subject to freezing conditions, water storage and pipelines, and pre-fabricated concrete structures and products.
Gregory H. Solomon Executive Chairman
DOT Fact Sheets Highlight Grim State of U.S. Roads and Bridges
WASHINGTON - The Highway Trust Fund is set to expire on July 31. Without action from Congress, federal funding for transportation will come to a screeching halt. And with it, so will traffic in many places across the country.
Over the last six years, Congress has passed 33 short-term measures rather than funding transportation for the long term. And our transportation system --our roads and bridges, especially-- is in a dire state of disrepair because of it. The table of state-by-state road and bridge conditions, shown below, demonstrates this.
Experts agree: The only way to prepare our transportation system for the next generation is to stop this cycle of short-term measures and pass a long-term transportation bill.
| State | Structurally Deficient / Functionally Obsolete Bridges* |
Annual Total Extra Vehicle Repairs / Operating Costs Due to Driving on Roads in Need of Fixing** |
Percentage of Roads in Poor / Mediocre Condition** |
|---|---|---|---|
| ALABAMA | 3,608 of the 16,078 (22.4%) | \$530 million (\$141 per motorist) | 25% |
| ALASKA | 290 of the 1,196 (24.2%) | \$181 million (\$359 per motorist) | 49% |
| ARIZONA | 954 of the 7,862 (12.1%) | \$887 million (\$205 per motorist) | 52% |
| ARKANSAS | 2,894 of the 12,748 (22.7%) | \$634 million (\$308 per motorist) | 39% |
| CALIFORNIA | 6,953 of the 24,955 (27.9%) | \$13.892 billion (\$586 per motorist) | 68% |
| COLORADO | 1,438 of the 8,612 (16.7%) | \$1.034 billion (\$287 per motorist) | 70% |
| CONNECTICUT | 1,472 of the 4,218 (34.9%) | \$847 million (\$294 per motorist) | 73% |
| DELAWARE | 177 of the 864 (20.5%) | \$168 million (\$257 per motorist. | 36% |
| FLORIDA | 2,044 of the 12,070 (16.9%) | \$1.792 billion (\$128 per motorist) | 26% |
| GEORGIA | 2,600 of the 14,769 (17.6%) | \$374 million (\$60 per motorist) | 19% |
| HAWAII | 494 of the 1,125 (43.9%) | \$456 million (\$515 per motorist) | 49% |
| IDAHO | 859 of the 4,232 (20.3%) | \$316 million (\$305 per motorist) | 45% |
| ILLINOIS | 4,246 of the 26,621 (15.9%) | \$2.4 billion (\$292 per motorist) | 73% |
| INDIANA | 4,168 of the 18,953 (22%) | \$1.249 billion (\$225 per motorist) | 17% |
| IOWA | 6,271 of the 24,398 (25.7%) | \$756 million (\$381 per motorist) | 46% |
| KANSAS | 4,465 of the 25,171 (17.7%) | \$646 million (\$319 per motorist) | 62% |
| KENTUCKY | 4,436 of the 14,116 (31.4%) | \$543 million (\$185 per motorist) | 34% |
| LOUISIANA | 3,790 of the 13,050 (29%) | \$1.2 billion (\$408 per motorist) | 62% |
| MAINE | 791 of the 2,402 (32.9%) | \$246 million (\$245 per motorist) | 53% |
| MARYLAND | 1,418 of the 5,291 (26.8%) | \$1.598 billion (\$422 per motorist) | 55% |
| MASSACHUSETTS | 2,694 of the 5,136 (52.5%) | \$1.461 billion (\$313 P Submit Feedback > | 42% |
U.S. Road and Bridge Data by State
8/4/2015
DOT Fact Sheets Highlight Grim State of U.S. Roads and Bridges | Department of Transportation
| MICHIGAN | 3,018 of the 11,022 (27.4%) | \$2.534 billion (\$357 per motorist) | 38% |
|---|---|---|---|
| MINNESOTA | 1,513 of the 13,137 (11.5%) | \$797 million (\$250 per motorist) | 52% |
| MISSISSIPPI | 3,636 of the 17,044 (21.3%) | \$811 million (\$419 per motorist) | 51% |
| MISSOURI | 6,633 of the 24,350 (27.2%) | \$1.6 billion (\$380 per motorist) | 31% |
| MONTANA | 882 of the 5,126 (17.2%) | \$136 million (\$184 per motorist) | 52% |
| NEBRASKA | 3,765 of the 15,370 (24.5%) | \$380 million (\$282 per motorist) | 59% |
| NEVADA | 253 of the 1,853 (13.7%) | \$391 million (\$233 per motorist) | 20% |
| NEW HAMPSHIRE | 790 of the 2,438 (32.4%) | \$267 million (\$259 per motorist) | 54% |
| NEW JERSEY | 2,334 of the 6,566 (35.5%) | \$3.476 billion (\$601 per motorist) | 66% |
| NEW MEXICO | 654 of the 3,935 (16.6%) | \$397 million (\$291 per motorist) | 44% |
| NEW YORK | 6,775 of the 17,442 (38.8%) | \$4.551 billion (\$403 per motorist) | 60% |
| NORTH CAROLINA | 5,534 of the 18,168 (30.5%) | \$1,555 billion (\$241 per motorist) | 45% |
| NORTH DAKOTA | 966 of the 4,439 (21.8%) | \$112 million (\$237 per motorist) | 44% |
| OHIO | 6,647 of the 27,015 (24.6%) | \$1.685 billion (\$212 per motorist) | 42% |
| OKLAHOMA | 5,828 of the 22,912 (25.4%) | \$978 million (\$425 per motorist) | 70% |
| OREGON | 1,754 of the 7,656 (22.9%) | \$495 million (\$173 per motorist) | 65% |
| PENNSYLVANIA | 9,561 of the 22,660 (42.2%) | \$2.947 billion (\$341 per motorist) | 57% |
| RHODE ISLAND | 433 of the 766 (56.5%) | \$350 million (\$467 per motorist) | 70% |
| SOUTH CAROLINA | 1,920 of the 9,275 (20.7%) | \$811 million (\$255 per motorist) | 40% |
| SOUTH DAKOTA | 1,459 of the 5,875 (24.8%) | \$194 million (\$324 per motorist) | 61% |
| TENNESSEE | 3,802 of the 20,058 (19%) | \$809 million (\$182 per motorist) | 38% |
| TEXAS | 9,998 of the 52,561 (19%) | \$5.27 billion (\$343 per motorist) | 38% |
| UTAH | 437 of the 2,974 (14.7%) | \$332 million (\$197 per motorist) | 25% |
| VERMONT | 903 of the 2,731 (33.1%) | \$230 million (\$424 per motorist) | 45% |
| VIRGINIA | 3,588 of the 13,765 (26.1%) | \$1.344 billion (\$254 per motorist) | 47% |
| WASHINGTON | 2,066 of the 7,902 (26.1%) | \$1.349 billion (\$272 per motorist) | 67% |
| WEST VIRGINIA | 2,514 of the 7,125 (35.3%) | \$372 million (\$273 per motorist) | 47% |
| WISCONSIN | 1,970 of the 14,088 (14%) | \$1.147 billion (\$281 per motorist) | 71% |
| WOMING | 723 of the 3,099 (23.3%) | \$96 million (\$236 per motorist) | 47% |
*According to 2013 data from the Federal Highway Administration
** According to the American Society of Civil Engineers 2013 Report Card for America's Infrastructure
Thursday, July 9, 2015
Related Links
. Fast Lane post from Secretary Foxx: We can't cross that bridge when we come to it if the bridge itself is in
disrepair
Media Contact
Press Office
US Department of Transportation
1200 New Jersey Ave, SE Washington, DC 20590 United States
Phone: 1 (202) 366-4570
Tags
· reauthorization
· grow america
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