Past year: ▼ 67%(0.10c – 0.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Nov 2016drilling result▼ BadMajor
Blaze suspended Marble Bar RC drilling after 12 holes (702m), all hitting pegmatite but only 2-4m wide, narrower than outcrop. Flatter 30-35 degree dips are thought to explain part of this. Assays due early December; a setback for the lithium thesis.
21 Nov 2016capital raising announcement● Neutral
Updated rights issue timetable: offer closes 11 January 2017, shares to be issued 18 January 2017. The company says documents took longer because of its focus on Marble Bar. Repeats the extension already flagged on 21 November.
21 Nov 2016drilling spud▲ GoodMajor
RC drilling has started at Marble Bar, Blaze's first lithium drilling: 18 initial holes, about 1,580m, possibly extended. The rights issue close moves to 11 January 2017, so shareholders can decide after seeing drill results.
17 Nov 2016drilling scheduled▲ Good
Blaze has all approvals for up to 3,000m of RC drilling at Marble Bar, starting by 21 November 2016 on three priority spodumene pegmatite targets. First assays are expected in mid-December.
16 Nov 2016capital raising announcement● Neutral
Confirms rights issue documents have been sent to eligible shareholders. Terms are unchanged: 1-for-3 at 5 cents to raise up to $2.1m, with free options exercisable at 8 cents until 1 March 2019.
8 Nov 2016capital raising announcement● Neutral
Cover letter sending the rights issue letters to eligible and ineligible shareholders, repeating known terms: 1-for-3 at 5 cents, up to $2.1m, with attaching options. No new information.
7 Nov 2016capital raising announcement● Neutral
Letter to optionholders on the rights issue: they can join only by exercising options (at 8 cents) before the 10 November record date. Planned use of the $2.1m includes $500k for Barkly and $300k for Marble Bar drilling. Full take-up gives about 168m shares.
4 Nov 2016capital raising announcement● NeutralMajor
Prospectus lodged for a 1-for-3 non-renounceable rights issue at 5 cents to raise up to $2.1m, with one free option for every two shares taken up. It is managed by Cicero Advisory and Merchant Corporate Finance. Text is truncated.
3 Nov 2016capital raising announcement● Neutral
The rights issue timetable slips slightly because documents took longer to finalise while the company focused on Marble Bar. The prospectus is now due 4 November and the offer closes 24 November, with shares issued 1 December.
28 Oct 2016drilling result▲ Good
New rock chips at Marble Bar returned up to 3.38% and 2.86% Li2O, with tantalum up to 701ppm. Pegmatite swarms are traced over 5km, adding to the earlier 3.72% peak. RC drilling is due to start in November.
19 Oct 2016drilling scheduled▲ GoodMajor
Spodumene found in all outcropping pegmatites at Marble Bar, traced over 5km of strike. Blaze extended its option by two months by committing to at least 3,000m of RC drilling, and plans a $2.1m rights issue at 5 cents. EL45/4669 has been granted.
3 Oct 2016other● Neutral
Corporate governance statement setting out which ASX governance recommendations Blaze follows, including a diversity policy without measurable gender targets. Administrative; no change to business. Text is truncated.
30 Sept 2016annual report● Neutral
Appendix 4G lodged with the annual report, pointing to the corporate governance statement on the company website. Administrative filing with no new business information.
30 Sept 2016annual report● Neutral
Loss for the year to 30 June 2016 was $2,000,485 (2015: $738,277). Net assets rose to $1,902,757 from $296,510. The KMM settlement ($466,379) remains unresolved; Barkly interest is shown as 'earning 70%'. Text shown is truncated.
2 Aug 2016asset acquisition disposition▲ GoodMajor
Blaze took a three-month option, signed 30 July 2016, to acquire the Marble Bar Lithium Project in WA's East Pilbara (370 km², four applications) from Great Sandy Pty Ltd. Rock chips averaged 1.85% Li2O, peak 3.72%. This marks a shift from Tennant Creek copper-gold.
8 Apr 2016director officer appointment● NeutralMajor
Darren Patterson joins the board and Robert Collins retires. Shareholders on 1 April approved handing Power Resources and Colour Minerals to KMM to settle the management agreement, but this has not yet happened as talks continue.
15 Mar 2016half year report▼ Bad
Half-year to 31 December 2015 net loss was $1,047,047 (prior period $347,140), mainly from capital raising and restructuring. Shareholders are asked to approve disposing of Colour Minerals, the main undertaking, to a related party; an independent expert called it fair and reasonable.
10 Mar 2016price query● Neutral
ASX queried a 20% share price rise (5c to 6c) with high volume. Blaze said it knew of no unannounced information explaining the trading and confirmed compliance with disclosure rules.
22 Jan 2016admin correction● Neutral
Corrects a typo: the 13,069,032 placement shares will be issued around 25 January 2016, not the October 2015 date stated earlier.
21 Jan 2016capital raising announcement▲ GoodMajor
The placement was oversubscribed, with $2.12 million of applications for 53 million shares at 4 cents. It will use both the shareholder approval and existing placement capacity. Funds are for working capital and new acquisitions.
What it means for a shareholder
53.0m new shares at A$0.040 to raise about A$2.1m. That's 46% dilution: every existing holder's slice gets 46% smaller. If you held A$1,000 of shares (25,000 at the issue price), your slice goes from 0.0403% to 0.0217% of the company. To keep it you'd need 21,371 more shares - about A$855 at the issue price.
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20 Jan 2016capital raising announcement▲ GoodMajor
Blaze placed 38 million shares at 4 cents to raise $1.52 million, under the 70m-share approval given at the 25 November 2015 meeting. Funds are for working capital and finding new acquisitions, continuing the shift away from Barkly drilling.
What it means for a shareholder
38.0m new shares at A$0.040 to raise about A$1.5m. That's 38% dilution: every existing holder's slice gets 38% smaller. If you held A$1,000 of shares (25,000 at the issue price), your slice goes from 0.0403% to 0.025% of the company. To keep it you'd need 15,323 more shares - about A$613 at the issue price.
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8 Dec 2015admin correction● Neutral
Clarifies the 4 December settlement: if Blaze settles with KMM by handing over assets rather than cash, it needs shareholder approval under Listing Rule 10.1. No new terms.
4 Dec 2015director officer appointment● NeutralMajor
Board overhaul: Josh Puckridge joins; Majteles and Scivolo retire. Registered office moves to Subiaco. Blaze raised $1,202,761 (30.07m shares, about 4c) to cut debt. It also terminated the Kalgoorlie Mine Management agreement, settling for $466,379 cash or the Colour Minerals (Barkly tenement) assets.
26 Oct 2015annual report● Neutral
Appendix 4G corporate governance checklist for year to 30 June 2015, a compliance form with no operational or financial news. It notes no employees and no written director agreements.
30 Sept 2015annual report● Neutral
Loss for the year to 30 June 2015 was $738,277 (2014: $754,695). No dividend. The report confirms Loren Jones' 9 September appointment. Text shown is truncated.
9 Sept 2015director officer appointment● Neutral
Loren Jones joins as a non-executive director, bringing the board to four. She is a partner and company secretary of Cicero Corporate Services, the firm linked to Blaze's recent placements (inference: placement arranger).
7 Sept 2015capital raising announcement● Neutral
Disclosure on the 3 September Rule 7.1A placement: dilution to existing holders was 5.79%, the issue was not underwritten, and a 6% placement fee is payable to Cicero Advisory Services. Funds are needed promptly for working capital.
2 Sept 2015capital raising announcement● NeutralMajor
Blaze placed 14,387,971 shares to Cicero Advisory clients at 3.02–3.37 cents, raising about $440,000 for working capital. It will also seek shareholder approval to place a further 70 million shares at 4 cents. This follows the thin cash position flagged earlier.
12 June 2015security holder rights change● Neutral
Blaze set up a sale facility for holders of unmarketable parcels (under $500). About 1,350 of roughly 1,900 holders qualify, together about 5.54% of shares. Closing date is 4 August 2015; the company bears costs.
4 May 2015farm in farm out completion▲ GoodMajor
Blaze has earned a further 20% of the Barkly joint venture by spending another $350,000, lifting its interest to 70%. It has elected to sole-fund to a bankable feasibility study to earn a final 10%, reaching 80%.
