21 September 2015
Fast Facts
Capital StructureShares on issue 241.3M Options 24.4M ASX Code NXR
Directors & Senior ManagementPatrick Flint
Chairman
Peter Turner
Non-Exec Director
Paul Jurman
Non-Exec Director & Company Secretary
Project HighlightsWBT Investment
Biometric technology
Potential global market
Strong management
Guinea (Iron)
High-grade iron discovery
Large resource potential
W Australia (Iron)
Woodley DSO Project
ContactsMr Patrick Flint
T: +61 8 9388 2277 www.nemexres.com.au
Nemex Resources Limited (ASX: NXR) (Nemex or Company) provided an update on 17 September 2015 in respect of the proposed acquisition of 100% of the issued capital in Wavefront Biometric Technologies Pty Ltd (Wavefront) that it does not already own. The Company provides the following additional detail in respect of the release.
The validation testing is being conducted by international experts at Purdue University. The commencement of the work was delayed due to the summer vacation period in North America. The actual testing of the Wavefront technology involving live subjects is a relatively short component of the overall process and is expected to commence shortly. The timeframe for the validation work to be completed is within four to six weeks.
Wavefront considers that direct performance comparisons with other biometric solutions can only be drawn when independent comparative data is available. As previously advised, there is limited current data available in respect of the mobile (self acquisition) market and this is one of the reasons Wavefront will receive commentary from an industry expert.
Wavefront is in early stage discussions with potential industry partners in various biometric market sectors, including consumer, healthcare, defence and aviation, both in Australia and North America. Wavefront's technology has been positively received by these groups.
The next phase of Wavefront's ongoing research and development strategy will focus on improving usability, speed of acquisition and accuracy in the mobile (self acquisition) market. This will build on the research embodied in Wavefront's recently filed patent that includes natural inbuilt liveness testing as part of a single sensor, multi-modal approach, which is aimed to provide a competitive advantage in the mobile market through combating the spoofing of biometrics for identity authentication.
For further information about Nemex contact:
Patrick Flint
Chairman
Nemex Resources Limited
P: 08 9388 2277
E: pflint@nemexres.com.au
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