Past year: ▲ 219%(1.80c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
17 May 2013business combination▼ Bad
Energia's chairman writes to shareholders repeating 'take no action'. With Cauldron shares at $0.11, the offer implies $0.014 per Energia share, a 36.4% discount to Energia's $0.022 close. Cauldron's share price has fallen from $0.27 at announcement.
16 May 2013business combination● Neutral
Cauldron confirms it has despatched its takeover offers to Energia shareholders, dated 16 May 2013 and open until 16 August 2013 unless extended. Procedural notice attaching the Bidder's Statement; no new terms.
6 May 2013business combination▼ Bad
Energia says Cauldron's offer now implies $0.019 per share, a 20.8% discount to Energia's $0.024 close, with Cauldron shares at $0.155. Its three largest holders (48.19%) won't accept, so the 90% condition can't be met unless waived or terms change.
2 May 2013business combination● Neutral
Cauldron lodges its Bidder's Statement for Energia with ASIC. Offer is dated 16 May 2013 and closes 16 August 2013 unless extended or withdrawn, at 1 Cauldron share per 8 Energia shares. Continues the 18 March bid.
17 Apr 2013drilling scheduled▲ Good
Diamond drilling of 500m at the Yanrey Barradale Channel is set for early to mid-May 2013, with Terra Drilling contracted. It will re-drill three earlier holes abandoned in hard cemented bands. Follows the failed December-quarter drilling at Barradale.
16 Apr 2013investor presentation● Neutral
April 2013 company presentation repeating known figures: 159.6M shares, 12.8M listed options, 4.3M unlisted options, A$3.07M cash at 31 December, market cap A$25.5M at A$0.16. Qiu holds 26.25% and Cape Lambert 20.38%. No new results.
21 Mar 2013drilling result▼ BadMajor
First Marree base metals drilling: eight RC holes (898m) mostly failed to reach target because the rig was inadequate for ground and water conditions. Three holes gave anomalous silver, lead and copper, lower than surface values. Falls short of the October 2012 discovery hopes; further mapping and sampling planned.
18 Mar 2013business combination▼ Bad
Energia's board calls Cauldron's 1-for-8 scrip bid unsolicited and highly conditional, and tells its shareholders to take no action. It says there were no prior discussions with Cauldron. A formal recommendation will follow.
18 Mar 2013business combination● NeutralMajor
Cauldron announces an off-market all-scrip takeover bid for Energia Minerals, offering 1 Cauldron share for 8 Energia shares (A$0.034 per share, 29% premium to 5-day VWAP), with a 90% minimum acceptance condition. Combined uranium resources would be 32.4Mlb across 190km of Carnarvon Basin strike.
14 Mar 2013investor presentation● Neutral
March 2013 company presentation repeating known facts: 159.6M shares, 12.8M listed options and 4.3M unlisted options, and cash of A$3.07M at 31 December. Major holders: Qiu 26.25%, Cape Lambert 20.38%. No new results.
12 Mar 2013half year report▼ Bad
Half-year to 31 December 2012: loss of $4.40m, against a $1.33m profit a year earlier. The $11.3m notes converted at 20c in August, and UEQ's West Lake Frome withdrawal is confirmed. Little else new.
11 Mar 2013joint venture update▲ Good
Partner Rumble Resources reports Beadell drilling: Maxwell hit wide zinc-lead-copper sulphides with SEDEX-style features, and Ninety Nine found a mineralised alteration system. Cauldron keeps a 20% free-carried interest. Rumble, not Cauldron, is the operator.
21 Feb 2013resource reserve update▲ GoodMajor
Yanrey exploration target raised to 30-115Mlb U3O8 at 250-900 ppm, from 25-30Mlb. It is conceptual, not a resource. Barradale Channel drilling is planned for Q1 2013, weather permitting. Follows the 15.7Mlb resource upgrade.
7 Feb 2013resource reserve update▲ GoodMajor
Yanrey inferred uranium resource rises about 300%, from 4.8Mlb to 15.7Mlb at 270 ppm eU3O8, after 7,146m of drilling, per Ravensgate. It adds Bennet Well East and South resources. This resolves the earlier upgrade expectation; the exploration target is being revised further.
19 Dec 2012drilling scheduled● Neutral
First-ever drilling at the Marree silver-lead-zinc anomaly is set for early January 2013, with a rig mobilised before Christmas and heritage clearance for ten sites under way. This is later than the early-to-mid December start flagged on 13 November; lab results are expected in January.
21 Nov 2012drilling result▲ GoodMajor
Bennett Well South drilling shows a third high-grade uranium palaeochannel at Yanrey, 2.5-3m thick, with a potential length of 10-20km by 500m wide. Builds on the 9 Nov 11m intersections; the company says it supports an exploration target upgrade, still conceptual.
21 Nov 2012admin correction● Neutral
Correction to the same-day Yanrey announcement: the 25-30Mlb exploration target should have been quoted with its 300-900 ppm grade range. No new results.
13 Nov 2012drilling scheduled▲ Good
Board fast-tracks exploration at the Marree 8km x 10km silver-lead-zinc anomaly: about 6,000 soil samples and a gravity survey now, with drilling possible from early to mid-December 2012. First modern ground exploration there; an Induced Polarisation survey is proposed for Q1 2013.
9 Nov 2012drilling result▲ GoodMajor
The first two Bennet Well South holes hit 11m-wide uranium zones (grade widths 950 and 989 ppm.m), with oxidised and reduced sediments suggesting a nearby roll-front. The company expects a significant upward revision of the exploration target; drilling ends mid-November.
5 Nov 2012capital raising announcement▲ GoodMajor
Of 12.6m listed options, 10,203,338 expired and 2,437,360 were exercised at 45c, raising $1,096,812, including by Tony Sage and Cape Lambert. A further $832,500 of shares will be issued under the underwriting. Shares on issue rise to 157.8m.
31 Oct 2012capital raising announcement▲ GoodMajor
Barclay Wells will partially underwrite exercise of the listed 45c options expiring 31 October, up to $832,500, for a 5% commission. This gives a floor on proceeds from the options, whose strike was well above the 23c price last cited.
31 Oct 2012investor presentation● Neutral
Mining 2012 convention presentation by Simon Youds repeating the Marree base metals and Yanrey uranium discoveries. It cites 155.3m shares and a market cap of A$69.9M at 45c. No new results.
30 Oct 2012drilling result▲ GoodMajor
Hole YNMR048 at Bennet Well East recorded a preliminary peak of 9,970 ppm eU3O8, with 3.3m @ 1,596 ppm from 57.7m. It is the highest grade so far in the new channel; results are field gamma readings, not yet validated.
29 Oct 2012drilling result▲ GoodMajor
Yanrey drilling defined a high-grade palaeochannel about 1.6km long and 120m wide, open north and south. All 15 holes hit uranium, 11 in the channel (preliminary peaks 3,706 ppm). The company expects the 25-30Mlb Exploration Target to be revised up, though it is still conceptual.
25 Oct 2012drilling result▲ GoodMajor
The first hole of the 5,000m Yanrey program found a new shallow palaeochannel: 2.7m @ 1,021 ppm eU3O8 from 40.6m (preliminary field gamma). It sits above the Bennet Well resource depth. Drilling that was scheduled for October has begun and runs to mid-November.
17 Oct 2012drilling result▲ GoodMajor
Surface sampling at Marree found an 8km x 10km silver-lead-zinc anomaly in the same province as Broken Hill. Peak rock-chips from old workings: 936 g/t silver, over 20% lead, 23% zinc. A new base metals thread beyond uranium; drilling is planned but not yet done.
5 Oct 2012farm in farm out completion● NeutralMajor
Uranium Equities withdrew from the West Lake Frome joint venture, ending its earn-in towards 80%. It issued 4,000,000 of its shares to Cauldron to settle its remaining minimum commitment. Cauldron appears to regain full control of the three licences (inference).
3 Oct 2012security holder rights change● Neutral
Reminder to holders that the 12.8m listed options (45c) expire 31 October 2012, with quotation ending 24 October. The last share price cited was 23c, well below the strike.
28 Sept 2012investor presentation● Neutral
September presentation repeating known facts: Yanrey 4.8Mlb inferred resource, 25-35Mlb exploration target, and the Marree JV. Lists 155.1m shares, market cap A$35.7M at 23c, and Cape Lambert at 24.2% and the Qiu family at 23.79%.
24 Sept 2012joint venture update▲ Good
Rumble Resources reports IP survey targets at Beadell and plans 15 holes (3,000m) in October. Cauldron keeps a 20% interest, which was sold down to Rumble in 2011. Rumble's news, not Cauldron's.
