Past year: ▲ 0%(0.60c – 1.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
31 July 2024quarterly activities report● Neutral
June quarter report: cash and liquid investments about A$5.3M, after A$2.6M raised in April at 0.8c. Two holes are drilled at Briggs, with first assays due late August. Completing the program would lift Alma's JV stake to 51%.
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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29 Apr 2024quarterly activities report▲ Good
March quarter report: all 2023 Briggs assays are in, with the higher-grade zone about 500m long. Placement raised A$1.7M after costs; SPP closes 30 April. Drilling is planned for the June quarter and a scoping study for the December quarter.
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.
31 Jan 2024quarterly activities report▲ Good
December quarter report: the nine-hole Briggs program finished mid-December 2023, with assays for five holes in, led by 51m at 0.59% Cu in 23BRD0021. Also notes agreed terms with Tropex for two adjacent permits. Cash figure not shown in the readable text.
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.
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.
31 Oct 2023quarterly activities report● Neutral
September quarter report: Stage 1 earn-in complete, Stage 2 committed. Four core holes finished of a 2,000m+ Briggs program, with assays due mid-November 2023 to January 2024. Soil sampling started at nearby Mannersley prospect. Cash not shown in the truncated text.
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).
28 Sept 2023agm notice● Neutral
Notice that the AGM will be held on or about 22 November 2023, with director nominations closing 6 October 2023. Administrative only.
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.
31 July 2023quarterly activities report● Neutral
June quarter report restates the 6 July resource of 415Mt at 0.25% Cu and the revised exploration target, with drilling to resume shortly. No new results in the readable text; cash is not shown because the text is truncated.
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.
