Past year: ▲ 0%(0.60c – 1.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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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28 Apr 2023quarterly activities report● Neutral
March quarter report restates the April Briggs assays. New items: East Kimberley reconnaissance may be delayed by cyclonic rain, and the review of SW Terrane soil sampling found nothing worth following up, so the three remaining WA licences were surrendered. Cash is not shown in the truncated text.
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.
31 Jan 2023quarterly activities report● Neutral
December quarter report restates the 441.5m at 0.21% Cu Briggs intersection and ongoing drilling. New items: two of five East Kimberley licence applications approved, two more applications lodged, and reconnaissance planned for the Q2 2023 dry season. Cash is not shown in the truncated text.
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 2022agm notice● Neutral
All 13 AGM resolutions passed, each with about 98.7% or more of votes cast in favour. This includes ratifying the September placement's first tranche, approving the second tranche and attaching options (including director participation), and options for CEO Tabeart. The resolutions are those flagged in earlier notices.
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.
26 Oct 2022quarterly activities report● Neutral
September quarter report restates the rig mobilisation and mid-October start of Briggs drilling, the Balanggarra agreements, the Don River application and the $1.75M placement at 1.0c. No new results. Text is truncated, so cash is not shown.
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.
20 Sept 2022agm notice● Neutral
Alma says its AGM will be held on or about 10 November 2022, with director nominations closing 27 September. Administrative notice only.
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.
29 July 2022quarterly activities report● Neutral
June quarter report restates the Briggs option exercise (executed 1 July 2022), soil results, the 455-850Mt exploration target and the planned six-hole, 3,000m core campaign. CEO Tabeart goes full-time. Text is truncated, so cash is not shown.
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.
4 July 2022farm in farm out completion▲ GoodMajor
Alma exercised its Briggs option, starting the earn-in: A$15.25M of spending over nine years for up to 70%. It set an exploration target of 455-850Mt at 0.20-0.35% Cu (conceptual) and plans six core holes (3,000m). CEO Tabeart goes full-time.
4 July 2022farm in farm out completion▲ Good
Canterbury's release confirms Alma exercised its Briggs option, starting the earn-in: A$15.25M of spending for up to 70%. Alma sole-funded over $750,000 in the option phase. Duplicates Alma's 4 July announcement, with the 455-850Mt exploration target and six-hole, 3,000m core plan.
12 May 2022drilling result▲ Good
Soil sampling defines a copper anomaly over 2,200m long and 950m wide, extending up to 1,200m outside the resource, with a molybdenum anomaly. Alma expects to exercise the option within weeks and plans 20 core holes (about 5,000m).
29 Apr 2022quarterly activities report● Neutral
March quarter largely restates earlier news: the Briggs RC results, the metallurgical results, and further soil sampling with assays due in Q2. Major drilling is expected in Q2 2022. The option remains in place until 31 July 2022. Report truncated; cash not shown.
11 Apr 2022other▲ Good
Canterbury's release of the same Briggs metallurgical results: 92-95% copper recovery and 17-20% concentrate grades. Duplicates Alma's announcement from the owner's side and states drilling is expected in the June quarter.
11 Apr 2022other▲ Good
Scoping-level metallurgical tests on Briggs samples gave copper recoveries of 92-95% into concentrates grading 17-20% Cu, with low arsenic, cadmium and uranium. Conditions were not optimised, so more upside is possible. Drilling is expected later this quarter.
