Past year: ▲ 0%(0.60c – 1.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
12 Jan 2024asset acquisition disposition▲ GoodMajor
Alma agreed binding terms to buy two Queensland exploration permits next to Briggs from Tropex for A$50,000 in shares (6-month escrow) plus a 1% royalty capped at A$7.5M. The cost counts toward Alma's earn-in spending.
22 Nov 2023investor presentation● Neutral
November 2023 corporate presentation repeating the 415Mt at 0.25% Cu resource and recent higher-grade drilling. Snapshot shows cash of about A$1.2M, down from about A$2.2M in September, with no debt and 1,114M shares.
21 Nov 2023drilling result▲ GoodMajor
Assays from holes 23BRD0019 and 0020 show thick copper-molybdenum zones above 0.30% Cu from surface, including 16.9m at 0.50% Cu in 0020. This supports a possible higher-grade starter pit. Company says a resource upgrade in 2024 is possible; more drilling planned early Q2 2024.
20 Oct 2023other● Neutral
Appendix 4G corporate governance checklist for the year to 30 June 2023, confirming the governance statement is current at 20 October 2023. Administrative, no new substance.
29 Sept 2023annual report▲ Good
2023 annual report: the Briggs resource is described as a near tripling to 415Mt at 0.25% Cu. Alma holds 30% and a 2,000m drill program is under way, with more drilling planned for 2024 before a scoping study. Two of seven East Kimberley licences were granted. Financials not shown (truncated).
21 Sept 2023farm in farm out completion▲ Good
Joint venture partner Canterbury confirms Alma met Stage 1 earn-in, reaching 30%, over nine months early after A$3M spent. Alma has committed to Stage 2 (51% for a further A$3M by 30 June 2026). Duplicates Alma's own release.
21 Sept 2023farm in farm out completion▲ GoodMajor
Alma completed Stage 1 of the Briggs earn-in, holding 30% after A$3M spent, over nine months ahead of the June 2024 deadline. It committed to Stage 2 (51% for a further A$3M by 30 June 2026); core drilling is already under way.
20 Sept 2023investor presentation● Neutral
September 2023 Briggs presentation repeating known facts: the 415Mt at 0.25% Cu resource, earn-in to 70%, and East Kimberley preparations. Snapshot shows about A$2.2M cash, no debt, 1,114M shares. No new results in the readable text.
18 July 2023resource reserve update▲ Good
Completed soil sampling shows the Briggs copper anomaly is 2,300m long and up to 1,000m wide. The company set a revised single Exploration Target of 480-880Mt at 0.20-0.30% Cu, excluding the new 415Mt resource. This is conceptual, not a resource; drilling resumes shortly.
6 July 2023resource reserve update▲ GoodMajor
New Briggs Inferred Resource of 415Mt at 0.25% Cu and 31ppm Mo (0.2% cut-off), about 1Mt of contained copper. This is a 2.5x rise in contained copper over the 143Mt at 0.29% maiden resource of 2021, and molybdenum is included for the first time.
30 June 2023other● Neutral
Notice that Managing Director Tabeart gave an interview to Proactive Investors about the final Briggs assays. It carries no new information; the interview is on the company website.
28 June 2023drilling result▲ Good
Final assays from the completed Briggs program: 23BRD0016 returned 365.7m at 0.23% Cu from 6.3m, extending mineralisation over 150m northeast of the current resource. All assays are in; the updated resource is expected in July 2023 and drilling resumes in early Q3.
20 June 2023investor presentation● Neutral
Investor presentation repeating known facts: the Briggs earn-in to 70%, the 143Mt at 0.29% Cu resource, an update due early Q3 2023, and East Kimberley reconnaissance planned for Q3 2023. No new results shown in the readable text.
15 June 2023drilling result▲ Good
Further Briggs assays: 23BRD0015 extended the known mineralisation 190m to the northwest, and 23BRD0016 extended it 100m to the north-east (part-assayed). The company says these will support a significant resource upgrade in early Q3 2023, and drilling resumes then.
23 May 2023capital raising announcement● NeutralMajor
Alma raised A$2.0M through a placement of 200M shares at 1.0c, including 10M for Chairman Cooke (A$100,000) subject to shareholder approval. Funds go to more Briggs drilling from early Q3 2023; a resource update is expected early Q3. Lead manager gets 25M options at 3.0c.
What it means for a shareholder
200m new shares at A$0.010 to raise about A$2.0m. That's 24% dilution: every existing holder's slice gets 24% smaller. If you held A$1,000 of shares (100,000 at the issue price), your slice goes from 0.016% to 0.0121% of the company. To keep it you'd need 31,914 more shares - about A$319 at the issue price.
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12 Apr 2023drilling result▲ GoodMajor
New Briggs assays: 22BRD0014 returned 222.7m at 0.20% Cu from 306m, and 23BRD0015 returned 300m at 0.20% Cu from 8.1m with the company's best molybdenum yet. Copper lies 190m north of the 143Mt resource; the company says this is likely to support an upgrade.
7 Mar 2023half year report● Neutral
Half-year accounts to 31 December 2022 show no debt and liquid investments of about A$3.3M in Caravel and Canterbury shares, down from ~A$4.6M at the AGM. Seven East Kimberley licence applications and three granted SW Terrane licences are listed. Text is truncated, so cash and loss are not shown.
28 Feb 2023admin correction● Neutral
Re-release of 21 February update, adding visual estimates of chalcopyrite: 0.5-1.0% by volume over the whole hole and 0.6-1.2% in the ~140m lower interval. No assays; the company warns visual estimates are not a substitute for laboratory results.
21 Feb 2023drilling result▲ Good
Second Briggs hole 22BRD0014 finished at 536.5m, with about 140m of well mineralised porphyry in its lower part that does not reach the surface. Only visual observations; assays due early Q2 2023. Drilling of the next hole at Briggs Central has started.
30 Jan 2023drilling result▲ GoodMajor
First assays from Briggs: hole 22BRD0013 at the Northern Porphyry returned 441.5m at 0.21% Cu from 8m, ending in mineralisation. This is about 750m north of the current resource, and the company says the system is larger than thought. Supports the exploration target concept; it is not a resource.
24 Nov 2022drilling progress report● Neutral
First Briggs hole 22BRD0013 at the Northern Porphyry ended at 449.5m in weakly mineralised volcanic sediments, with visible copper sulphides. Assays are due in the New Year. Drilling will run into the New Year because of weather delays; the second hole is starting.
18 Nov 2022other● Neutral
Target market determination accompanying the option prospectus. It describes who the 87,264,265 free attaching options (4.0c exercise, expiring 19 September 2024) suit and limits them to placement investors. Compliance document with no new business information.
18 Nov 2022security holder rights change● Neutral
Alma lodged a prospectus offering 87,264,265 free options (4.0c, expiring 19 September 2024) to investors in the 1.0c September placement. This is a technical step to remove resale restrictions and raises no new money. It completes the attaching options promised in the placement.
3 Nov 2022investor presentation● Neutral
AGM presentation repeats known facts: the Briggs earn-in (up to 70%), 143Mt at 0.29% Cu resource, 455-850Mt exploration target and 3,000m drilling. New detail: a landowner Conduct and Compensation Agreement at Briggs, and WA SW Terrane sampling results are under review. Cash plus investments ~A$4.6M.
14 Oct 2022drilling spud▲ GoodMajor
Alma began the 3,000m, six-hole core drilling campaign at Briggs (143Mt at 0.29% Cu), with the first hole at the Northern Porphyry. This is the planned test of the exploration targets. A new application, Don River EPM 28588, was added to the joint venture area.
3 Oct 2022other● Neutral
Appendix 4G corporate governance checklist for the year to 30 June 2022, confirming the governance statement is on Alma's website. Administrative filing with no new business information.
3 Oct 2022annual report● Neutral
First annual report as Alma Metals covers the year to 30 June 2022 and describes the shift from African energy developer to copper explorer. It repeats the Briggs earn-in and East Kimberley plans, with drilling from early October and more planned for 2023. Text is truncated, so financials are not shown.
13 Sept 2022capital raising announcement● NeutralMajor
Alma raised $1.75M before costs by placing 174.5M shares at 1.0c, with a free 1-for-2 option at 4.0c (two-year term). That is well below November 2021's 4.3c placement. Directors take $160,000, subject to approval. Funds the Briggs core drilling from early October.
What it means for a shareholder
175m new shares at A$0.010 to raise about A$1.8m. That's 22% dilution: every existing holder's slice gets 22% smaller. If you held A$1,000 of shares (100,000 at the issue price), your slice goes from 0.016% to 0.0125% of the company. To keep it you'd need 27,845 more shares - about A$278 at the issue price.
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8 Sept 2022material agreement▲ GoodMajor
Alma signed a Heritage Protection Agreement and a Negotiation and Funding Agreement with Balanggarra, allowing reconnaissance exploration over about 1,000km2 of the East Kimberley. This clears the access step for its pending licence applications and starts exploration JV talks. Cash is $1.3M plus $4.5M of investments.
21 July 2022investor presentation● Neutral
July investor presentation repeats the Briggs earn-in, the 455-850Mt exploration target and drilling plans. New detail: Stage 2 (51%) targeted by end 2023, and WA SW Terrane results expected Q3 2022. Cash ~A$1.5M, listed shares ~A$3.1M, 740M shares on issue.
