Delivering Satellite Communications to the mining industry and resource sector.
Australias leading independent Satellite Communications Company, NewSat Limited (ASX: NWT), has today, opened its Perth teleport doors to over 20 local mining and resource companies, in partnership with AMEC (Association of Mining & Exploration Companies). With a return to greater market confidence in the sector, NewSat aims to capitalise on the current improving trend in the mining and resource sector as part of the overall recovery phase. NewSat sees as a big part of its operational imperative being to educate mining and resource companies on the benefits of NewSats satellite communications and its applications to their business in the field, often in remote locations.
NewSat currently works with three of the major SATCOM integrators in the world; Caprock, Schlumberger and Rignet, demonstrating the Companys already existing presence in the oil and gas mining sector. Continuing to target the mining and resources sector is a part of NewSats broader marketing plan to increase profitability and promote growth within the Company. In combination with this initiative, are the recently announced Company achievements; a positive EBITDA expected for first quarter 2010 and the continuing progress towards the ultimate launch of Jabiru-1.
Jabiru-1 will be the first non-foreign owned, non-Government satellite, which will leverage NewSats global coverage of 75 percent of the world and further cement the Companys position as Australias largest independently operated Satellite Communications Company.
In commenting on this exciting phase of the Companys development for NewSat, Adrian Ballintine, Chief Executive Officer said,
In reaching these three critical points of development, the Company is well positioned to deliver attractive growth and innovation, high quality, sustainable profitable earnings and return to its shareholders from its unique platform of world-class teleport facilities.
Building upon the recently announced positive EBITDA and the exciting vision ahead for the launch of Jabiru-1, NewSat is excited to be demonstrating its satellite communications technology to a mining and resource sector that will continue to be a major focus in Australia and dominate the ASX 200.
NWT Price at posting:
0.6¢ Sentiment: ST Buy Disclosure: Held
