20 Sept 2012price query● Neutral
ASX queried a rise from 13c to 20c intraday. Cauldron said it knew of no undisclosed information, pointing to promotional material sent to brokers and shareholders and the 28 August Yanrey drilling announcement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 Sept 2012annual report● Neutral
Annual report for year to 30 June 2012. Only the contents and director details are readable; no result figures are visible. Qiu Derong holds 36.9m shares and Sage 5.59m.
28 Aug 2012drilling scheduled▲ GoodMajor
A 5,000m Yanrey drilling program is scheduled for October 2012, targeting extensions to the Bennet Well resource (4.8Mlb inferred) and the Bennet Well South channels. It follows the favourable Native Title heritage ruling in late 2011.
2 Aug 2012capital raising announcement▲ GoodMajor
All $11.3m of convertible notes converted to 58.8m shares at 20c, versus an 11c close on 26 July. This removes the July repayment problem raised earlier; shares on issue rise to about 155.1m. Yanrey drilling is expected within weeks.
7 June 2012director officer appointment● Neutral
Mining engineer Simon Youds, former CEO of African Iron, appointed Operations Consultant. He gets 2m options at $0.20 expiring 30 June 2014, vesting on Rio Colorado drilling starting or Yanrey resources above 10 and 15Mlb. Not a CEO appointment.
18 Apr 2012other● Neutral
100,000 unlisted employee options ($0.85) lapsed on 26 March 2012. Administrative; the announcement lists unlisted options at 500,000.
4 Apr 2012other● Neutral
Registered office moved to 32 Harrogate Street, West Leederville WA. Administrative only; share and option counts and board are unchanged.
22 Mar 2012other● Neutral
Amended securities trading policy for directors and employees, covering insider trading rules and blackout periods. Administrative; no change to assets, funding or the company's story is stated.
22 Mar 2012debt financing● Neutral
Redemption date of Dempsey's $2m convertible note (Cape Lambert subsidiary) was extended from 16 March to 31 July 2012, in line with the other convertible notes. Cauldron has more time before the debt falls due.
6 Mar 2012half year report▲ Good
Half-year to 31 December 2011 shows a profit of $1,329,226 versus a $1,710,893 loss a year earlier. A $3.2m gain on the Wallbrook sale was recognised; the swing is from that one-off.
23 Jan 2012drilling spud● Neutral
A 6,500m drill program began at Marree with the Korean consortium, with 5,000m at MacDonnell Creek and 1,500m at Red Banks Well. It follows up the 2011 paleochannel find; the joint venture is in its final year, with A$3.34m spent so far.
7 Dec 2011other● Neutral
Unlisted employee options lapsed on 30 November 2011: 2.0m at $0.50, 2.9m at $0.60 and 2.0m at $0.80. Administrative; only 600,000 unlisted options remain.
29 Nov 2011security holder rights change● Neutral
New company constitution adopted by special resolution at the 25 November 2011 AGM. Text shown is only the contents list; no specific changes to shareholder rights are visible.
14 Nov 2011other● Neutral
100,000 unlisted employee options ($0.45) lapsed under their terms. Administrative; unlisted options now 7.5m.
10 Nov 2011asset acquisition disposition▲ GoodMajor
Cauldron sold the 5 million Saracen shares from the Wallbrook settlement for $3.8m, to fund exploration and working capital in Australia and Argentina. A sizeable cash boost against a roughly $1.3m cash balance at September.
9 Nov 2011asset acquisition disposition▲ GoodMajor
Cauldron settled the deferred consideration and royalty on the Wallbrook gold project, sold to Saracen in 2007, for 5,000,000 Saracen shares, before mining began. Cauldron calls it a good result; the royalty is given up.
9 Nov 2011asset acquisition disposition● Neutral
Saracen's side of the Wallbrook settlement: it allots Cauldron 5 million shares free of escrow, and the $1 per tonne royalty (capped at A$2m) is cancelled. Same deal as Cauldron's own announcement.
3 Nov 2011other● Neutral
900,000 unlisted options ($0.61) lapsed on 31 October 2011. Administrative; unlisted options fall to 7.6m.
27 Oct 2011investor presentation● Neutral
Presentation for the Mining 2011 Resources Convention in Brisbane, repeating known projects. It shows a share price of 10c, market cap about A$9.6m and liquid assets A$2.86m, down from 18.5c and about A$16.5m in April.
30 Sept 2011annual report● Neutral
Annual report for the year to 30 June 2011, with directors' report, governance and accounts. Visible text lists the board (Sage, Smith, Qiu) and former officers' holdings; financial results are not visible in the supplied text.
28 Sept 2011asset acquisition disposition● Neutral
Rumble Resources announced it bought interests in Cauldron's Boolaloo and Beadell projects for $300,000 cash. Rumble's version of the deal; Cauldron's own announcement the same day confirms it. Mirrors the sale of non-uranium assets.
28 Sept 2011asset acquisition disposition● NeutralMajor
Cauldron sold an 80% interest in Boolaloo and a 60-80% interest in the Beadell licences to Rumble Resources for $300,000, keeping a free-carried 20% until a decision to mine. Follows the strategic review flagged in the June quarterly; focus moves to Yanrey, Marree and Argentina.
12 Sept 2011capital raising announcement▼ BadMajor
Cauldron placed 7,300,000 shares at 10 cents to raise $730,000 before costs, for exploration and working capital. Issued shares rise to 96.2m. The price is well below the 18.5c market price in April and the 50c Chinese placement.
What it means for a shareholder
7.3m new shares at A$0.100 to raise about A$730,000. That's 7.6% dilution: every existing holder's slice gets 7.6% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.0112% to 0.0104% of the company. To keep it you'd need 820 more shares - about A$82 at the issue price.
Create a free account to see this worked out for your own holding.
18 Aug 2011drilling spud▲ GoodMajor
Drilling started at Los Colorados in Argentina: about 15 holes for 1,000m targeting near-mine extensions. Cauldron's exposure is via its loan to Caudillo, which can earn 78% of the project from EMSE (previously stated as 80%). Follows the February loan agreement.
1 Aug 2011other● Neutral
300,000 unlisted employee options ($0.45) lapsed under their terms. Administrative; unlisted options now 8.5m.
14 July 2011drilling result▲ GoodMajor
Follow-up Marree drilling (33 holes, 3,576m) found low-grade uranium, best 1m @ 263 ppm at MacDonnell Creek, and a new paleochannel open 11km to the northeast. Still low grade, but a new priority target for the Korean-funded joint venture.
22 June 2011other● Neutral
1,100,000 unlisted employee options ($0.45) lapsed under their terms. Administrative; unlisted options fall to 8.9m.
1 June 2011other● Neutral
86,667 unlisted options ($1.50) and 33,333 ($1.65) lapsed on expiry at 31 May 2011. Administrative.
13 Apr 2011capital raising announcement▲ GoodMajor
Cauldron announced an underwritten options issue (Barclay Wells), 2 options per 3 shares at 2c, 25c exercise to 31 May 2012, raising about $1.19m, with funds for Yanrey exploration and working capital. Later not proceeded with.
31 Mar 2011director officer appointment● Neutral
Non-executive director Kent Hunter and company secretary Stephen Brockhurst resigned on 31 March 2011; Claire Tolcon became company secretary. Registered office moved to Leederville. The board is now down to Sage, Smith and Qiu.