3 Nov 2011other● Neutral
900,000 unlisted options ($0.61) lapsed on 31 October 2011. Administrative; unlisted options fall to 7.6m.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
31 Oct 2011quarterly activities report● Neutral
September quarter: cash about $1.3m plus $1.6m liquid assets. Los Colorados 20-hole drilling is complete, with assays due in December. Yanrey heritage issues near resolution, with a drilling approval lodged; a 6,500m Marree program is being prepared.
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.
28 July 2011quarterly activities report▼ Bad
June quarter: cash $970,000 plus about $4.3m of liquid assets. The $1.1m options issue was dropped after market falls. Heritage issues delayed Bennet Well drilling at Yanrey. Marree results are new; Los Colorados drilling due in September quarter.
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.
29 Apr 2011quarterly activities report● Neutral
March quarter report covers the Marree drilling start, the $2m Cape Lambert convertible note, CEO resignation and board changes, and the Los Colorados loan. Market cap is about $16.5m at 18.5c, down from $28.8m in February. Cash figures not visible in the text.
13 Apr 2011capital raising announcement▲ GoodMajor
Cauldron announced a fully underwritten (Barclay Wells) options issue of two options for every three shares at 2 cents each, exercisable at 25 cents by 31 May 2012. It would raise about A$1.19m for Yanrey exploration and working capital.
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.
17 Mar 2011debt financing● NeutralMajor
Cauldron received $2m in convertible note funding from Cape Lambert's subsidiary Dempsey, at 10% coupon, convertible to shares before 16 March 2012 subject to shareholder approval. Deepens Cape Lambert's role after the CEO's exit; funds existing projects and working capital.
15 Mar 2011half year report● Neutral
Half-year to 31 Dec 2010 shows a loss of $1,710,893, versus $4,926,110 a year earlier. The report recaps Yanrey (4.8Mlb inferred resource) and other projects; no new operational information.
9 Mar 2011drilling spud● Neutral
A 4,000m drilling program started at Marree, targeting Blanchewater and Redbanks Well uranium anomalies (peak 245 ppm). It is the March-quarter program previously planned, funded by the Korean partners under the $6.2m earn-in.
3 Mar 2011capital raising announcement● Neutral
Eclipse Uranium, 36.78% held by Cauldron, announced a 1-for-2 options issue at 1c (20c exercise, 3 years). Cauldron will not take up its entitlement. Eclipse also appointed a director and company secretary. Little direct change for Cauldron shareholders.
21 Feb 2011material agreement▲ GoodMajor
Cauldron will lend up to A$650,000 to Argentine company Caudillo to explore the historic Los Colorados uranium mine. At Cauldron's option the loan converts to 80% of Caudillo. The mine produced 55,000 kg of concentrate in 1992-96; stockpile grade is unknown.
21 Feb 2011asset acquisition disposition● Neutral
Cauldron became a substantial holder of Eclipse Uranium on 16 Feb 2011, holding 26,020,000 shares (36.78%), mostly 26m bought for about $202,000. This follows the earlier option exercise on its Northern Territory tenements; the 25m-share consideration is now held.
4 Feb 2011director officer appointment▼ BadMajor
CEO Terry Topping, a founding director, resigned effective immediately. Major shareholder Cape Lambert Resources will oversee finance, marketing and technical work, while Sage and Smith run day-to-day management. Reason given: to pursue other opportunities.
31 Jan 2011quarterly activities report● Neutral
December quarter report recaps Beadell base-metal results and Red Banks; a further Marree drilling program is scheduled for the March quarter 2011 after approvals. All five AGM resolutions passed. Cash figures not visible in the text provided.
13 Jan 2011drilling result● Neutral
Six Beadell holes (1,702m) found widespread but mostly low-grade copper, lead and zinc, best 1m @ 7840 ppm Cu and 8.55 g/t Au and 28m @ 1794 ppm Pb. The company says the source of the electromagnetic anomaly lies deeper and is still untested.
30 Dec 2010other● Neutral
50,000 unlisted options exercisable at $0.305 lapsed on 22 December 2010. Administrative; unlisted options now about 10m.
22 Dec 2010other● Neutral
Share trading policy document setting out insider trading rules and closed periods for directors and staff. Corporate governance policy; no new business information.
1 Dec 2010other● Neutral
106,667 unlisted options ($3.75) and 4,000,000 unlisted options ($0.80) lapsed unexercised. Administrative; unlisted options fall to 10.3m.
3 Nov 2010drilling result● Neutral
At ASX's request, Cauldron supplied the full hole table for the Red Banks drilling. Most holes read under 10x background; the peak remains 153 ppm in MAMR116. No new results.
1 Nov 2010drilling spud● Neutral
A 1,500m reverse circulation program started at the 80%-owned Beadell project in WA, testing two airborne electromagnetic targets that resemble massive sulphide mineralisation. Delivers on the planned September-quarter drilling; this is base metals, not uranium.