Abaxx Technologies Inc N.ABXX

Alternate Symbol(s): ABXXF

Technology Software - Application

Abaxx Technologies Inc. is a Canada-based financial software and market infrastructure company. The Company is developing and deploying software tools that make communication, trade, and transactions secure. The Company has launched Abaxx Commodity Futures Exchange and Clearinghouse, regulated by the Monetary Authority of Singapore, to support trading and risk management with physically settled benchmark futures contracts in the commodity markets at the center of the energy transition to a low-carbon emissions economy. Its products include Abaxx Verifier, Abaxx Drive, Abaxx Messenger, Abaxx Exchange, Abaxx Clearing and Abaxx Infrastructure. The Company is also focused on building Smarter Markets, which allow tools, benchmarks and technology to drive market-based solutions to challenges, including climate change and the energy transition. The Abaxx Verifier is a secure password, identity and verification application.

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Abaxx Technologies Inc

Bullboard Posts

Comment by brax21on Sep 26, 2008 11:58am

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Post# 15486822

RE: BIM Strategic Partner

This was on the BIM board posted by svosteve. At least BIM is providing an update on status. Interesting point about market turmoil unlikely to delay a deal

Baffinland to announce strategic partner in Q4

London 26 September 2008 09:10

Canadian iron ore junior Baffinland Iron Mines Corp is hoping toannounce a strategic partner early in the fourth quarter, saying thecurrent market turmoil is unlikely to delay a deal.

Baffinland will need $4.1 billion to develop its Mary River project inCanada, located north of the Arctic Circle. The project is located inNunavut territory north of the Arctic Circle and will include thebuilding of a 143 km railway line and a deep water port.

Baffinland ceo Gordon McCreary told MB that there has been a lot ofinterest from mining and steel companies to get involved in the projectas minority shareholders and that an announcement is expected early inQ4.

Twelve interested companies signed up last May to get access toBaffinland's documents. "This includes some of the largest steel andmining companies and intermediaries, and they are busy withevaluations. We can't discuss any details at the moment," McCreary said.

It is unlikely that the current market turmoil will delay the process, he added.

"The equity window has really closed, but the companies we're dealingwith are the biggest of the big. They have enormous cash flows fromother sources."

Despite the infrastructure and weather challenges, the project offers ahigh-quality resource. "There is nothing out there comparable to thequality we offer. And even at 50% of the current iron ore price, thepayback period is less than four years," he said.

McCreary said the feasibility study indicates that production andtransport costs to port will total $15 per tonne, while the quality orethe mine will produce can be sold at around $100 per tonne at currentlevels.

Letters of intent for future off-take agreements have also been signedwith a number of steel mills. Arcelor Mittal and Thyssen Krupp will betesting ore at its blast furnaces in Europe, with results expected tostart trickling in during Q4, McCreary said.

Commercial production is set to start in 2013, mainly for stockpiling,with shipments only planned for 2014. The initial output targets arefor 18 million tpy, with tests indicating a ratio of 75% lump and 25%fines.

To enable Baffinland to ship through-out the year, special ice-breakingvessels need to be designed. A shipping pool might be started withBaffinland either participating as a customer, or taking a stake in theconsortium.

"We have significant commitments we want to make. We'd need to find astrategic partner in Q4 for the project to remain on track," McCrearysaid.