4 Apr 2025admin correction● Neutral
Re-release of the 3 April locked-cycle flotation announcement, adding an appendix of drill hole collar locations for the metallurgical samples. Results are unchanged.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Apr 2025drilling result▲ GoodMajor
Locked-cycle flotation tests show 95% copper recovery into 29% Cu concentrate for intrusive rock and 94% into 23% Cu for volcanic-sediments, up from the 89-90% in February's preliminary tests. No penalty elements found. Resource update is nearing completion.
14 Mar 2025half year report● Neutral
Half-year accounts to 31 December 2024 with a BDO review conclusion and no matters flagged after period end. Notes 51% of Briggs, no debt, and about A$3.3M of listed investments in Caravel and Canterbury. Directors state the company can pay its debts. Financial figures not in readable text.
27 Feb 2025drilling result▲ GoodMajor
First Briggs flotation tests recover 89-90% of copper into concentrate above 25% Cu at coarse grind sizes, with up to 75% molybdenum recovery. Supports the base case for the scoping study (mid-2025); the revised resource is due this quarter.
30 Jan 2025drilling result▲ GoodMajor
Final Briggs assays confirm the Southern Porphyry as a new discovery about 300m from the resource: 270.5m at 0.22% Cu in 24BRD0035 and 97m at 0.20% Cu in 0036. Central infill hole 0033 gave 203.1m at 0.36% Cu. Resource update due this quarter; scoping study mid-2025.
9 Dec 2024investor presentation● Neutral
December 2024 Asia non-deal roadshow presentation repeating the 415Mt at 0.25% Cu resource, 51% stake, and the 2,955m drilling program completed in early December. Notes a scoping study is underway. No new results in the readable text.
3 Dec 2024drilling result▲ Good
Holes 24BRD0030 and 0031 returned 220.6m at 0.27% Cu and 185m at 0.29% Cu from surface; more modest than the earlier 0.45% hole. The drilling program finished 2 December. Alma received a A$630,000 R&D tax rebate and says it is fully funded for the drilling, metallurgy and mining studies. Assays for the remaining holes are due in Q1 2025.
29 Oct 2024director officer appointment● Neutral
Non-executive director Ian Hume is retiring after eleven years on the board and will not seek re-election, so his AGM re-election resolution was withdrawn. Other AGM business proceeds as planned.
16 Oct 2024investor presentation● Neutral
October 2024 conference presentation repeating the 415Mt at 0.25% Cu Briggs resource, the 51% stake and the 2,650m program. Shows about 1,542M shares, 25M options, cash of A$1.8M at 30 September and no debt. No new results.
14 Oct 2024farm in farm out completion▲ GoodMajor
Alma has completed Stage 2 of the Briggs earn-in and now holds 51%, with Canterbury at 49%, almost two years ahead of schedule. It has committed to Stage 3 (70%) by spending A$10M by 30 June 2031. The drill program was increased from 2,000m to 2,650m.
8 Oct 2024security holder rights change● Neutral
Board plans 40M unlisted options at 1.5c strike, expiring 31 October 2027, for staff and directors (32M to directors, 8M to employees), about 2.6% of issued capital. Director grants need approval at the 30 October AGM. No other employee incentives are currently on issue.
1 Oct 2024drilling result▲ GoodMajor
Alma's own release of the same holes: 24BRD0028 returned 159.3m at 0.40% Cu, including 68m at 0.70% Cu; 24BRD0027 gave 82.3m at 0.26% Cu. Supports the higher-grade theme from 24BRD0026. Next two holes' assays are due in 3-4 weeks; placement funds extend drilling.
1 Oct 2024drilling result▲ Good
Canterbury, Alma's Briggs JV partner, reports holes 24BRD0027 and 0028: 159.3m at 0.40% Cu from 8.1m, including 68m at 0.70% Cu. Hole 0027 averaged 0.22% Cu over 250m. Follows the 276m at 0.45% Cu hole; Alma expected to reach 51% this year.
30 Sept 2024annual report● Neutral
2024 annual report: the Managing Director's letter highlights the 276m at 0.45% Cu hole and expects the Briggs stake to reach 51% by calendar Q4 2024. A scoping study is targeted for late 2024 or early 2025. East Kimberley awaits cultural heritage clearance.
30 Sept 2024other● Neutral
Appendix 4G for the year to 30 June 2024: a corporate governance compliance checklist pointing to the company website. No new business information in the readable text.
17 Sept 2024capital raising announcement● NeutralMajor
Alma is raising A$750,000 by placing 100M shares at 0.75c, below April's 0.8c, to fund two to three more Briggs holes. A$140,000 from directors needs shareholder approval. The drill contractor will also take up to A$75,000 of fees in shares at 0.75c.
What it means for a shareholder
100m new shares at A$0.0075 to raise about A$750,000. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (133,333 at the issue price), your slice goes from 0.0213% to 0.0183% of the company. To keep it you'd need 21,276 more shares - about A$160 at the issue price.
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11 Sept 2024investor presentation● Neutral
September 2024 company presentation repeating the 415Mt at 0.25% Cu resource and the 276m at 0.45% Cu hole. Lists about 1,450M shares, cash of about A$1.5M at 31 July and no debt. Says a scoping study is underway. No new results.
28 Aug 2024drilling result▲ GoodMajor
Hole 24BRD0026 returned 276m at 0.45% Cu from surface, including 49m at 1.01% Cu from 3m, the best copper intersection at Briggs since discovery. It supports the higher-grade theme from the 2023 drilling; more assays are due in 4-6 weeks.
18 July 2024drilling progress report▲ Good
The Tropex permit purchase is complete and a small third permit was granted; all three join the Canterbury JV. The first hole of the new program, 24BRD0026, reached 283.9m with assays due in about 6 weeks. Finishing this program would lift Alma's stake from 30% to 51%.
19 June 2024investor presentation● Neutral
June 2024 investor showcase repeating the 415Mt at 0.25% Cu Briggs resource and noting the funded 2,000m drilling began this month. Shows about 1,417M shares, 143M options and cash of about A$2.6M. No new results.
28 May 2024contract award▲ GoodMajor
Alma signed iDrilling Australia for a minimum 2,000m of core drilling at Briggs, starting in June. The contractor will take about A$240,000 of fees in shares at 1.2c, a 33% premium to the 10-day VWAP. First assays are expected in August.
24 May 2024auditor change● Neutral
BDO Audit Pty Ltd replaces BDO Audit (WA) Pty Ltd as auditor after BDO restructured its audit practice. Shareholders confirm the appointment at the next AGM. Administrative, not a change of audit firm group.
8 May 2024investor presentation● Neutral
May 2024 conference presentation repeating the 415Mt at 0.25% Cu Briggs resource and East Kimberley plans, with a minimum 2,000m of fully funded core drilling to restart this quarter. No new results.
7 May 2024capital raising announcement▲ GoodMajor
The Share Purchase Plan raised A$0.86M, issuing 107M shares at 0.8c, below the A$1M maximum. Cash is A$2.61M, with Cooke's A$0.2M tranche awaiting a 24 May meeting. Drilling at Briggs is expected this quarter.
What it means for a shareholder
107m new shares at A$0.008 to raise about A$860,000. That's 15% dilution: every existing holder's slice gets 15% smaller. If you held A$1,000 of shares (125,000 at the issue price), your slice goes from 0.0199% to 0.017% of the company. To keep it you'd need 21,342 more shares - about A$171 at the issue price.
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12 Apr 2024capital raising announcement● Neutral
Letter offering eligible shareholders the Share Purchase Plan: parcels of A$500 to A$30,000 at 0.8c, capped at 125M shares (A$1M). Mechanics of the already announced raise; maximum shares on issue would be about 1.46 billion.
5 Apr 2024capital raising announcement● NeutralMajor
Alma raised A$1.77M via a placement of 221.8M shares at 0.8c, down from the 1.0c earlier placements, to fund more Briggs drilling. A$200,000 from Chairman Cooke needs shareholder approval; a Share Purchase Plan of up to A$1M follows.
What it means for a shareholder
222m new shares at A$0.008 to raise about A$1.8m. That's 26% dilution: every existing holder's slice gets 26% smaller. If you held A$1,000 of shares (125,000 at the issue price), your slice goes from 0.0199% to 0.0147% of the company. To keep it you'd need 44,240 more shares - about A$354 at the issue price.
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15 Mar 2024half year report▼ Bad
Half-year accounts to 31 December 2023 note the Briggs 30% earn-in and about A$2.8M of listed investments in Caravel and Canterbury. The auditor's report includes a heading on material uncertainty about going concern; detail is truncated, so cash and loss are not readable.
13 Mar 2024investor presentation● Neutral
March 2024 corporate presentation repeating the 415Mt at 0.25% Cu Briggs resource, recent higher-grade drilling and East Kimberley plans. No new results in the readable text; the share and cash snapshot is truncated.
15 Feb 2024drilling result▲ GoodMajor
Final assays from holes 22-25 extend the higher-grade zone along the eastern contact of Briggs Central to about 500m, over 200m deep and still open. More drilling is planned from early Q2 2024, aiming for a scoping study later this year.
29 Jan 2024drilling result▲ GoodMajor
Hole 23BRD0021 hit copper-molybdenum from surface to 136.3m, including 51m at 0.59% Cu and 32.8m at 0.78% Cu, among the best Briggs results so far. It continues the higher-grade contact zone theme; assays for holes 22-25 are due in 2-4 weeks.