Past year: ▲ 0%(0.60c – 1.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
15 Oct 2010drilling scheduled▲ GoodMajor
Sese coal resource drilling starts 18 October: about 40 core holes at 2km spacing plus 90 RC holes to infill a 1km grid, to test the 1.0-1.5bn tonne Exploration Target. Inferred resource estimate expected in Q1 2011. Revises the 29 September plan.
8 Oct 2010security holder rights change● NeutralMajor
Energy Ventures plans to distribute 85,250,968 AFR shares (about 80% of its holding) to its own shareholders, about 1 AFR share per 3.9 EVE shares, keeping 20m. Subject to approvals. This would end AFR's largest single holder's ~37% stake and spread it among many holders.
29 Sept 2010drilling scheduled● Neutral
Resource definition drilling at Sese coal to start mid-October: about 100 diamond holes at 1km spacing, with resource estimation expected in the first quarter of 2011. Later superseded by the revised design in the 15 October announcement.
24 Sept 2010investor presentation● Neutral
Notice of an audio broadcast of Frazer Tabeart on the Sese coal update and exploration target on 24 September. No new information in the announcement itself.
22 Sept 2010resource reserve update▲ GoodMajor
Sese coal Exploration Target of 1.0-1.5 billion tonnes of 4,000-5,000 kcal/kg raw coal, which is conceptual and not a JORC resource. Multiple expressions of interest received for a 10-20% stake. Resource drilling is being prepared, about US$1m.
16 Sept 2010investor presentation● Neutral
Sese coal presentation repeating the recent results: coal over about 80 sq km, 10-12m thick, with a partner sought to invest in the project. Also says coal and coal-bed methane rights will be split from other commodities, so a coal deal would not affect uranium ownership.
14 Sept 2010investor presentation● Neutral
Notice of an audio broadcast of Frazer Tabeart on the new Botswana coal discovery on 14 September. No new information in the announcement itself.
10 Sept 2010investor presentation● Neutral
Notice of an audio broadcast of Managing Director Frazer Tabeart presenting to the Africa Down Under conference on 10 September. No new information in the announcement itself.
9 Sept 2010drilling result▲ GoodMajor
First coal quality results at Sese: raw coal averages about 9m thick, 19 MJ/kg, 27% ash and 1.8% sulphur. Seams run over 30km strike. The company is seeking a cornerstone partner; an initial resource still needs more drilling. Resolves the earlier open question on coal quality.
3 Sept 2010annual report● Neutral
Full-year statutory accounts to 30 June 2010 (financial report with directors' report and audit report). The extract provided shows only director biographies; no financial figures are readable here.
2 Sept 2010investor presentation● Neutral
September 2010 Africa Downunder presentation largely restating known facts. New figure: cash A$3.9m at 31 July, no debt, market cap A$25m. Kabanana's 18-hole programme best 4m @ 293ppm U3O8, needing 3D modelling.
31 Aug 2010drilling result▲ Good
RC drilling at Chisebuka (Kariba Valley JV, 30% earned) extended uranium mineralisation 800m along strike, to over 2km total. Best of first 10 holes: 4m @ 424ppm eU3O8 (hole CHI039 from 45m... see table). Assays for 17 holes still pending.
3 Aug 2010investor presentation● Neutral
Notice of an audio broadcast of Managing Director Frazer Tabeart giving an exploration and uranium market update on 3 August 2010. No new information in the announcement itself.
28 July 2010investor presentation● Neutral
Presentation for the Proactive One2One forum and a roadshow, repeating known facts including the Sese coal discovery. It states potential for uranium production within 2 years. Cash A$4.6m, market cap A$23m.
27 July 2010drilling result▲ GoodMajor
More Sese drilling found coal seams up to 25m thick, now over an inferred strike of more than 30km. Diamond core drilling has started for quality testing, and a new coal prospecting licence application is lodged. Extends the June coal discovery.
22 July 2010investor presentation● Neutral
July 2010 Australian Uranium Conference presentation restating known facts. Cash A$4.6m at 30 June, no debt, market cap A$23m. The Chirundu feasibility study stays on hold pending resource growth, with a mine life above 10 years sought to justify capex over A$100m.
30 June 2010drilling result▲ GoodMajor
Uranium drilling at Sese unexpectedly hit near-surface coal, with seams averaging 11.7m (up to 16m) in 21 holes over an area up to 6.5km by 5km. Coal quality is unknown and more drilling is underway. This is a new, non-uranium thread.
30 June 2010investor presentation● Neutral
June 2010 presentation at the Botswana Resources Conference, repeating the Sese coal discovery and drilling plans. Cash was A$5.0m at 31 May with no debt; market cap A$19m. It also notes the Gobe and Railway uranium targets are being drilled.
27 May 2010drilling spud● Neutral
A 7,500m reverse circulation drilling programme has started at the wholly owned Sese project in Botswana, expected to take up to ten weeks. It tests untested uranium targets and includes 50-hole infill drilling at the Gojwane discovery.
20 May 2010investor presentation● Neutral
May 2010 Sydney roadshow presentation repeating known facts: 11Mlb Chirundu resource and granted mining licence, cash A$5.4m, no debt. Market cap is shown as A$23m (17 May), down from A$31m in January. No new results.
19 May 2010drilling result▲ Good
Soil sampling at Chisebuka, in the Kariba Valley JV (30% earned), found uranium anomalies up to 2km long, with outcrop up to 754ppm eU3O8. Drilling is due to start in June 2010 and follows 2007 drilling that hit 7m @ 465ppm.
7 Apr 2010investor presentation● Neutral
Notice of an audio broadcast of Managing Director Frazer Tabeart presenting the 2010 exploration programme on 7 April. No new information in the announcement itself.
30 Mar 2010investor presentation● Neutral
March 2010 roadshow presentation repeating the approved 2010 programme: 21,000m drilling, about US$4m budget, 11.1Mlb Chirundu resource. No new results or figures.
25 Mar 2010drilling scheduled▲ GoodMajor
Board approves a 2010 programme of 21,000m of drilling across Sese, Chirundu, Kariba Valley, Aldershot and Sitwe. Budget is US$3.7m, with US$2.4m for direct exploration. Cash was US$5.1m at end February.
1 Mar 2010half year report● Neutral
Half-year accounts to 31 Dec 2009: A$7.72m raised after costs from two placements (A$4m at 5c, A$4.2m at 15c), cash A$5.99m. The Chirundu feasibility study remains suspended since October 2008, a decision under continuing review.
1 Feb 2010investor presentation● Neutral
February 2010 roadshow presentation repeating known facts: 11.1Mlb Chirundu resource, mining licence, Gojwane discovery. Cites cash of A$6m, no debt, market cap A$31m, and operating cost estimate of US$26-31/lb, versus the earlier US$22-25 target.
20 Jan 2010resource reserve update▲ GoodMajor
Njame South Inferred Resource revised to 4.4Mt @ 250ppm U3O8, 2.4Mlb (from 2.3Mlb). Chirundu total becomes 11.1Mlb. Siamboka and Namakande assays also released. Cash is stated as A$6m after the late-2009 placement.
19 Jan 2010joint venture update▲ GoodMajor
Albidon, after its administration, will keep its 30% of the Chirundu JV, commits to meet future cash calls and has repaid US$752k owed. This resolves doubt over the partner's funding of the JV.
15 Dec 2009drilling result● Neutral
Assays for another 55 Gojwane holes (Sese, Botswana) show widespread but modest uranium, best 2m @ 716ppm. Spacing is too broad to judge size. The company is assessing infill drilling for a resource estimate in the first half of 2010, continuing earlier results.
10 Dec 2009drilling result▲ Good
Soil sampling at Sitwe, in the wholly owned Northern Luangwa project, defines a uranium anomaly over more than 8km, with outcrop up to 124ppm eU3O8. Reconnaissance drilling is planned for the second quarter of 2010, after the wet season.
