Past year: ▲ 0%(0.60c – 1.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
31 Jan 2011quarterly activities report▲ Good
December quarter: Sese drilling in Blocks A and C complete, coal over at least 90 sq km, Exploration Target lifted to 1.5-2.0bn tonnes. Cash US$2.75m. Inferred resource now expected April 2011, concept study from February. Sitwe assays due Q1.
25 Jan 2011investor presentation▲ Good
January 2011 roadshow presentation raises the Sese coal Exploration Target to 1.5-2.0bn tonnes, with coverage over 100 sq km. Inferred resource now due early Q2 2011. Market cap A$205m (20 Jan), cash A$3.2m (30 Nov); Energy Ventures down to ~4.4%.
23 Dec 2010other● Neutral
Securities trading policy restricting directors and employees from trading while holding price-sensitive information, and in the two weeks before results. Administrative document with no new information on the company's projects or finances.
16 Dec 2010investor presentation● Neutral
Notice of an audio broadcast of Frazer Tabeart on coal drilling exceeding expectations, 16 December. No new information in the announcement itself.
14 Dec 2010drilling result▲ GoodMajor
Block-C coal now covers about 70 sq km, with the main seam averaging 11m at 52m depth. The company says extent exceeds Exploration Target assumptions. Block-B drilling starts 10 January; inferred resource still expected end Q1 2011.
1 Dec 2010drilling result▲ Good
Block-C drilling at Sese finds coal averaging 10m thick at 45m depth across about 20 sq km of the eastern part, in line with the Exploration Target assumptions. Western Block-C and Block-B are untested; inferred resource still due end Q1 2011.
24 Nov 2010investor presentation● Neutral
AGM technical presentation repeating Sese coal results, with market cap A$83m and cash A$4.0m (31 Oct). New: a scoping study for a 3-5 Mtpa start-up operation is planned for early 2011. Energy Ventures' ~34% stake to be redistributed.
23 Nov 2010investor presentation● Neutral
Notice of an audio broadcast of Frazer Tabeart on the thick Sese coal intersections, 23 November. No new information in the announcement itself.
16 Nov 2010drilling result▲ Good
More Block-A drilling lifts average coal seam thickness to 16.3m at 44.6m depth over about 22 sq km. Coffey Mining retained to independently supervise the resource estimate, still due Q1 2011. Block-C drilling follows.
4 Nov 2010investor presentation● Neutral
Updated Sese coal marketing presentation repeating recent results: 1.0-1.5bn tonne Exploration Target, US$1m drilling programme, and inferred resource due early 2011. No new information.
3 Nov 2010drilling result▲ GoodMajor
First Sese resource drilling in Block A: 23 holes show coal averaging 14.5m thick at 39m depth over 7km by 3km, beyond the Exploration Target outline. More rigs added. Inferred resource still due Q1 2011; Sese licence renewed two years.
29 Oct 2010quarterly activities report● Neutral
September quarter: Sese coal drilling (42 holes) confirms coal over at least 80 sq km, ~12m thick; Chisebuka uranium strike extended to over 2,000m. Cash was US$2.93m at 30 September. Resource drilling results are expected from early November.
25 Oct 2010security holder rights change● Neutral
Energy Ventures' prospectus for distributing 85,250,968 AFR shares to its holders. Its 37.23% stake falls to 7.1% (20m shares kept). Meeting 23 Nov, record date 1 Dec, distribution 8 Dec. Follows the 8 October plan; AFR itself issues nothing.
22 Oct 2010annual report● Neutral
2010 Annual Report restates known highlights: the Sese coal discovery, 11.1Mlb U3O8 at Chirundu (7-8 year mine life, US$26-31/lb cash cost), the Chirundu Mining Licence and A$8.2m raised in the year. Coal partner still sought; no new results.
20 Oct 2010capital raising announcement● NeutralMajor
Private placement of 9,600,000 shares at A$0.15 to raise up to A$1.44m, using the company's remaining 15% placement capacity. Funds the Sese coal resource drilling. First raising since December 2009's A$4.2m, at the same price.
What it means for a shareholder
9.6m new shares at A$0.150 to raise about A$1.4m. That's 3.3% dilution: every existing holder's slice gets 3.3% smaller. If you held A$1,000 of shares (6,667 at the issue price), your slice goes from 0.00236% to 0.00228% of the company. To keep it you'd need 226 more shares - about A$34 at the issue price.
Create a free account to see this worked out for your own holding.
18 Oct 2010admin correction● Neutral
Presentation currency changes from Australian to US dollars from the 2010 financial year; future quarterly and statutory reports will be in US dollars. Confirms the change flagged earlier, without a stated effect on operations.
18 Oct 2010investor presentation● Neutral
Notice of an audio broadcast of Frazer Tabeart outlining the Sese coal resource drilling programme on 18 October. No new information in the announcement itself.
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.
