25 Aug 2015annual report● Neutral
Annual report for the year to 30 June 2015, with directors' report and financial statements. The text provided is truncated, so no financial figures are reported here. Board: Sage, Qiu, Li and Gwynne.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
25 Aug 2015other● Neutral
Corporate governance report and Appendix 4G for the year to 30 June 2015, lodged with the annual report. Administrative; no new business information.
20 July 2015admin correction● Neutral
Re-release of the 14 July Bennet Well resource announcement with additional information to meet ASX Listing Rule 5.8.1. No new results.
15 July 2015investor presentation● Neutral
Presentation to the Australian Uranium Conference in Perth. Repeats known Bennet Well and Argentina material; no new results visible in the text provided.
14 July 2015resource reserve update▲ GoodMajor
Bennet Well resource rises 16% to 21.5Mlb eU3O8 (36.1Mt @ 270ppm), with Indicated up 90% to 11.9Mlb. Builds on the late-2014 drilling. WA government grant of up to $150k for drilling; new drilling planned September 2015 quarter.
1 July 2015capital raising announcement▲ GoodMajor
Director Qiu Derong paid A$1.71m cash toward his A$2m placement at A$0.118 (A$0.29m offsets owed director fees); shares need shareholder approval. A$0.8m R&D refund also received. Funding lets Bennet Well drilling resume early August 2015.
25 June 2015other● Neutral
Administrative notice: 400,000 unlisted employee and consultant options at $0.138 lapsed. Unlisted options now 59.65m; shares on issue 251,104,266.
23 June 2015director officer appointment● Neutral
Executive Director Brett Smith resigned on 23 June 2015 and Mark Gwynne joined as non-executive director. Executive Chairman Tony Sage remains the only executive on the board. No reason for Smith's departure is given.
27 May 2015other▲ GoodMajor
WA Supreme Court discontinued the Joseph Investment, Joseph International and Guangrong action against Cauldron, discharged the injunctions and ordered the plaintiffs to pay costs. Cauldron can counterclaim for A$3m of unpaid subscriptions plus damages. Unpaid funds are not yet recovered.
23 Apr 2015other● Neutral
Administrative notice: 100,000 unlisted employee and consultant options at $0.138 lapsed. Unlisted options now 60.05m; shares unchanged at 251,104,266.
27 Feb 2015half year report▼ Bad
Half-year to 31 December 2014: loss A$2.48m (prior year A$2.07m). Of the A$15m placements, A$7.53m is received and A$7.47m outstanding, mainly from Joseph-related investors, Guangrong City and director Qiu.
8 Jan 2015other● Neutral
Administrative notice: 850,000 options at $0.20 and 350,000 options at $0.138 held by employees and consultants lapsed. Unlisted options now 60.15m; shares on issue 247,121,205.
7 Jan 2015regulatory community update▲ GoodMajor
WA Mines Minister rejected the Warden's recommendation and allowed the three Minderoo uranium exploration licence applications to proceed, resolving the pending decision. Applications still go through further determination. Company cites cash of A$3.0m plus A$7.47m due under placements.
17 Dec 2014director officer appointment● Neutral
Non-executive director Anson Huang resigned on 17 December 2014, after about five months, and Judy Li was appointed non-executive director the same day. Neither holds securities per the notices. No reason for the departure is given.
11 Dec 2014other▲ Good
NSW Supreme Court transferred the Joseph Investment and Guangrong proceedings against Cauldron to the Western Australian Supreme Court, with the plaintiffs paying costs of the application. Procedural win; Cauldron still calls the claims meritless. Dispute unresolved.
2 Dec 2014drilling result▲ GoodMajor
Drilling outlines a high-grade zone at Bennet Well East, peaking at 2500ppm eU3O8 (e.g. 1.25m @ 2500ppm); the over-500ppm contour covers 500m by 175m. A core rig is added to fast-track field leach trials. Builds on October's first holes.
21 Oct 2014drilling result▲ GoodMajor
First two holes of the 10,000m Bennet Well program hit shallow, high-grade uranium at Bennet Well East, best 1.55m @ 667ppm eU3O8 from 47.75m including 0.4m @ 1340ppm. Early results; management says shallow depth could mean lower-end ISR costs (company view).
17 Oct 2014investor presentation● Neutral
Presentation for a China mining roadshow in Tianjin. It claims three projects are fully funded, repeating the 18.6Mlb Bennet Well resource; no new results are visible. It comes days after the dispute with two placement investors.
16 Oct 2014other▼ BadMajor
NSW Supreme Court discharged ex parte injunctions Joseph Investment and Guangrong had obtained on 12 October. Cauldron had demanded $1m owed on 2 October under the placement agreement. Company calls the claims meritless; directions hearing 5 November. Raises doubt over the placement funding.
8 Oct 2014drilling scheduled▲ GoodMajor
A$1.5m, 10,000m mud-rotary program of about 100 holes at Bennet Well to start 14 October, ahead of a leach test planned for the June 2015 quarter. Shareholders approved the placements on 30 September; A$5m received so far, A$6m expected within two months.
2 Oct 2014director officer appointment● Neutral
Non-executive director Dr Amy Wang resigned effective 1 October 2014, about four months after joining. No reason given.
22 Sept 2014resource reserve update▲ GoodMajor
Bennet Well resource rises 18% to 18.6Mlb eU3O8 (32.4Mt at 260ppm) from 15.7Mlb, after 8 core holes. 29% is now Indicated. It follows the delayed revision flagged earlier; a 100+ hole drill campaign starts late September.
22 Aug 2014annual report● Neutral
Annual report for year ended 30 June 2014. Visible text covers directors and corporate directory only: Amy Wang joined 9 June and Anson Huang 29 July 2014; BDO remains auditor. No financial figures are visible.
29 July 2014director officer appointment● Neutral
Anson Huang is appointed non-executive director from 29 July 2014, with no shareholding disclosed. He is presumably the additional Chinese director promised with the placements (inference).
14 July 2014investor presentation● Neutral
Re-release of the 19 June roadshow presentation with added exploration target disclosure to comply with JORC 2012. A compliance fix, not new information.
1 July 2014capital raising announcement▲ GoodMajor
Cauldron secures a further A$4m from Chinese investor Starry World at A$0.118 (33.9m shares), paid in four A$1m instalments from March to December 2015, subject to shareholder approval. Lifts the Chinese placements to A$15m, with another Chinese director to be appointed.
1 July 2014other● Neutral
Administrative notice: 900,000 unlisted employee and consultant options at $0.20 lapsed on 30 June 2014. Shares on issue now 196,438,713 and unlisted options 9.5m.
19 June 2014investor presentation● Neutral
Presentation for a Guangzhou roadshow run by Joseph Investment, a shareholder in the A$11m placement. The visible text is disclaimers and a corporate overview; no new results are shown.
10 June 2014capital raising announcement▲ GoodMajor
Cauldron secures an A$11m placement from Chinese investors at A$0.118 a share (93.2m shares), paid June 2014 to December 2015, subject to shareholder approval. Includes A$2m from director Qiu Derong. Finishes the long-pending Beijing funding effort; funds Yanrey, Marree and Argentina work.
28 May 2014price query● Neutral
ASX queried a rise from 9.6c to 16c. Cauldron knew of no undisclosed information, pointing to the RNI discovery (indirect 7.14% Fe Limited stake), the lapsed bid, the quarterly report and better uranium sentiment. It says it will more than likely have the capital to progress Bennet Well.