BackgroundCoolgardie Gold N.L. ("Coolgardie") was incorporated in 1983 and listed on the Australian Stock Exchange in 1984. Coolgardie commenced production of gold in 1987 in its own right, and in December 1995 reached agreement with Herald Resources Ltd (a gold producer on neighbouring tenements) to form a joint venture by combination of both companies tenements, mines and mills. Coolgardie and Herald Resources held 50% each of shares in a Joint Venture company. Initially, this venture was successful with an annualised production of approximately 150,000 ounces per annum. In the second year, it was decided that this venture was too small for two companies and Herald purchased Coolgardie's shares in the joint venture company. Coolgardie then became a cashed up company looking for new assets and new challenges. The company acquired 20% equity in the high-tech Company SmartTrans Limited on 5th October 1999 and moved progressively to its present 95% ownership stake. SmartTrans Limited services an ever-increasing number of Australia's best known businesses delivering improvements in efficiencies and service levels through a combination of Web-based Geographical Information System (GIS) Computer Software, digital road data and mobile data communications (GPRS and CDMA). The company has retained its highly promising gold and base metals exploration tenements in Queensland which it coninues to actively explore. Shareholders approved a change in the Company's name and status to “Sm@rtTrans Holdings Limited” (“SmartTrans”) at the Annual General Meeting on 23 rd November 2000 and the new name and ASX code, “SMA”, appeared on the ASX on 23rd January 2001. |
