Past year: ▲ 0%(0.60c – 1.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 May 2012price query● Neutral
ASX asked about the share price rising from A$0.18 on 22 May to an intraday A$0.235 on 29 May. The company replied it knows of no unannounced information and has no explanation for the move, and confirmed it complies with listing rules.
14 May 2012investor presentation● Neutral
Notice of a 14 May webcast by Frazer Tabeart on the Sinazongwe coal discovery in Zambia. The announcement itself contains no new information.
10 May 2012drilling result▲ GoodMajor
Coal discovery at Sinazongwe East, Zambia: all nine holes (1,691m) hit multiple seams, with raw calorific values 10-26MJ/kg and vitrinite bands hinting at possible coking coal. Washing and coking tests follow. Resolves the pending drilling analysis, though economic value is unproven.
3 May 2012investor presentation● Neutral
Company update: executives are touring India and China seeking strategic development partners. Rail tariff talks with Botswana Railways are about to start and Grindrod has been asked for terminal capacity. Measured Resource for Blocks B and C is expected before end of quarter.
13 Apr 2012regulatory community update▲ Good
A 25t trial parcel of Sese coal went by rail from Francistown to Maputo's Matola terminal, about 1,350km in roughly four days. It shows existing rail can reach the east coast; commercial transport arrangements remain to be worked out.
29 Mar 2012drilling progress report▲ Good
The 15,000t Sese bulk sample is fully excavated and testwork has begun. Industrial Coal Africa is appointed marketing manager, rail export trials to Maputo are due in April, and feasibility studies are on schedule for end of 2012. Completes the bulk sample thread.
14 Mar 2012investor presentation● Neutral
March presentation for Sydney and Hong Kong forums restates Sese as over 2.6bn t, with an 18m coal seam exposed. Stage 1 is 1-2Mtpa from mid-2013, Stage 2 4-5Mtpa in 2015. Power off-take discussions are in progress; no new results.
9 Mar 2012half year report● Neutral
Interim accounts for the six months to 31 December 2011, reviewed by BDO, with directors declaring the company can pay its debts. The extracted text describes Sese as 2,517Mt Indicated plus 109Mt Inferred; financial figures are not visible in the excerpt.
20 Feb 2012investor presentation● Neutral
Roadshow deck for New York, Boston, Toronto, London and Singapore repeats the Sese plan. Stage 2 is now shown as 4-5Mtpa by late 2015. Market cap A$125m, cash A$10m at 31 December. No new results.
8 Feb 2012investor presentation● Neutral
Notice of an 8 February webcast by Frazer Tabeart titled 'African Energy moves from exploration to pre development'. The announcement itself contains no new information.
3 Feb 2012investor presentation● Neutral
February roadshow deck for African mining conferences restates the Sese plan: over 2.6bn t, Stage 1 at 1-2Mtpa from mid-2013, ramping to 5Mtpa. Shows market cap A$120m and cash A$10.8m at 30 November. No new results.
2 Feb 2012resource reserve update▲ GoodMajor
Over 95% of the Sese resource is upgraded to Indicated: 2,626Mt total, of which about 2.5bn t is Indicated. This delivers the Q4 2011 upgrade goal, though the total is below the earlier 2.73bn t, with more conservative geological loss factors used. Measured Resource still due Q2 2012.
30 Jan 2012drilling progress report▲ Good
Excavation of the Sese bulk sample box-cut is nearly complete, with about 15,000t of coal to be stockpiled. A first 60t batch has been trucked to Witbank, South Africa for air-separation washing tests. This continues the bulk sample begun in November 2011.
21 Nov 2011other● Neutral
Notice that Helmsec Global Securities has published a research report on the company, available on its website. Helmsec was lead manager of the July placement. No content from the report is given.
17 Nov 2011investor presentation● Neutral
AGM presentation restates the Sese plan: Stage 1 at 1-2Mtpa from mid-2013, ramp to 5Mtpa, bankable feasibility study and EIA underway. Market cap A$115m, cash A$14.0m, debt A$4.9m. Stage 1 range widened from 1Mtpa; no new results.
15 Nov 2011director officer appointment▲ Good
Thomas Scott-Morey is appointed Power Development Manager to manage a coal-fired power plant at Sese, including power sale, financing and construction agreements. He has 30 years' experience and previously led Kot Addu Power in Pakistan. A power plant is a new element in the Sese plan.
10 Nov 2011drilling progress report▲ Good
Excavation of the 10,000t Sese bulk sample has started in a box-cut, 320m long and 35m deep, designed to become a mining ramp. Coal will be used for export, power-station, washing and coal-to-liquids tests. Completion expected Q1 2012.
31 Oct 2011regulatory community update▲ Good
African Energy receives approval for a secondary listing on the Botswana Stock Exchange, trading from 31 October 2011. It gives access to Botswana institutions and pension funds and underlines focus on the 100%-owned Sese coal project.
14 Oct 2011annual report▲ GoodMajor
2011 annual report says focus has shifted from uranium to Sese coal, with a 2.7bn t maiden resource and the A$15m raising. Notably, management no longer seeks an outside partner for the coal project, reversing last year's stated search, citing its own capability.
30 Sept 2011investor presentation● Neutral
Notice of a 30 September webcast by Frazer Tabeart presenting the concept study. The announcement itself contains no new information.
26 Sept 2011investor presentation● Neutral
September roadshow deck restates the concept study results and 2.7bn t resource. Shows cash A$15.5m, debt A$4.9m and market cap A$130m (down from A$243m in May). Stage 1 production is now targeted for mid-2013.
22 Sept 2011investor presentation● Neutral
Notice of a 22 September webcast by Frazer Tabeart on near-term coal production opportunities. The announcement itself contains no new information.
21 Sept 2011other▲ GoodMajor
Concept study says the 2.7bn t Sese project is technically and commercially viable. Stage 1 (1Mtpa) costs US$46m capex at US$13/t opex and is cash positive from 2013; Stage 2 (5Mtpa) US$104m at US$10/t. Board approves a feasibility study for up to 5Mtpa, resolving the pending concept study.
9 Sept 2011drilling progress report▲ Good
Drilling has started to support a Measured Resource in northern Block-B and part of Block-C: 98 core holes on a 500m grid, with five rigs working. Indicated upgrade stays on track for Q4 2011; Measured Resource due Q2 2012. Indicated drilling finished in August.
7 Sept 2011investor presentation● Neutral
Notice of a 7 September webcast by Frazer Tabeart on developing mining options at Sese. The announcement itself contains no new information.
5 Sept 2011annual report● Neutral
Statutory full-year accounts to 30 June 2011 for African Energy Resources are lodged. The visible text is only the contents page, directors' report and board details; no financial figures appear in the extract, so no results can be reported here.
31 Aug 2011investor presentation● Neutral
August 2011 Africa Down Under conference deck restates the 2.7bn t Sese resource. Plans: feasibility study from Q3 2011, decision on initial 1Mtpa development by early 2013, ramp-up to 5Mtpa possible. Start size now 1Mtpa, versus 0.6Mtpa in May.
5 Aug 2011admin correction● Neutral
Share registry moves to Link Market Services from 12 September 2011. Administrative notice only; no effect on projects or finances.
1 Aug 2011director officer appointment▲ Good
David Scott, who recently managed the Morupule Colliery expansion in Botswana, is appointed General Manager - Projects from 1 July. He will deliver the Sese feasibility studies and sits on the Botswana subsidiary board. Issued shares now 326.4m after the placement.
18 July 2011listing compliance notice● Neutral
ASX lifts the trading suspension on African Energy immediately after the company's announcement. Administrative notice only; the suspension appears to have accompanied the capital raising (inference).
