Good afternoon, Archer recently lodged its First Quarter Activities and Cashflow Reports for the three months ending September 30, 2020. We encourage shareholders and investors to read the Company’s Quarterly Reports.
Archer is in a strong financial position
The Company has approx. $7.35 million cash in bank and no debt. This means Archer is in a strong financial position to fund Company growth and continue to deliver value to shareholders through the development of its deep tech portfolio.
Overview of key activities in Q1
Archer is rapidly progressing the development of its 12CQ qubit processor chip and lab-on-chip biosensor technology, while continuing to divest its mineral exploration projects.
During Q1, Archer:
+ Commenced development of world-first qubit control prototyping in the 12CQ chip
+ Progressed global IP prosecution with its South Korean 12CQ chip patent application
+ Hired Dr Rebecca Soffe to lead the Company’s biosensor tech development
+ Appointed Mr Ken Williams as an independent non-executive director of Archer
+ Completed the sale of the Company’s Leigh Creek Magnesite Project
What to look forward to
Our Advanced Materials Business is the Company’s prime focus with our exploration tenements no longer core to our business strategy. Some key activities to look forward to in Q2 include:
+ Prototyping of qubit control componentry in 12CQ chip development
+ Expediting the Company’s biosensor technology towards ‘Lab-on-a-chip’
+ The Company’s AGM, which is to be held virtually, on Monday 30 November 2020
Links to important information for shareholders
I look forward to speaking to our shareholders and investors at Archer’s upcoming AGM, and on updating our shareholders with the exciting progress we’re making in the development of our innovative deep tech.
Dr Mohammad Choucair, FRACI FRSN GAICD
Chief Executive Officer
Archer Materials Limited (ASX:AXE)