Past year: ▲ 219%(1.80c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
24 July 2007drilling scheduled● Neutral
A 402 line km trial airborne EM survey has started at the Eclipse project (NT, 7,934 sq km), alongside radiometric and magnetic surveys planned for August and October. These are geophysical surveys, not drilling, and follow the earlier air core program.
16 July 2007drilling result▲ Good
The Marree REPTEM survey (1,507 line km) interpreted an extensive palaeodrainage to about 75m depth, up to 2.5km wide and over 20km long, trending northwest. It improves roll-front targets but is a preliminary geophysical result; further interpretation will refine drill targets.
13 June 2007investor presentation● Neutral
Notice that an audio recording of the Managing Director's 8 June AMEC conference presentation is available. No new information.
12 June 2007drilling scheduled● Neutral
Yanrey exploration drilling resumes with a 2,500m program targeting the Manyingee Channel and Bennet Channel. After April's program was cut short by hard ground, the company now plans to use a mud rotary rig.
8 June 2007investor presentation● Neutral
Conference presentation repeating known projects. It shows cash of $2.0m, rising to $7.0m after the placement, and shares rising from 39m to 45m. A fourth Yanrey drilling program is to begin shortly.
5 June 2007capital raising announcement▲ GoodMajor
Scimitar arranged a placement of 6 million shares at $0.85 to raise up to $5.1m, facilitated by Hartleys. Canada's Mega Uranium takes 2.25m shares, about 5% of the enlarged company. Settlement is expected around 10 July, subject to shareholder approval.
What it means for a shareholder
6.0m new shares at A$0.850 to raise about A$5.1m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (1,176 at the issue price), your slice goes from 0.00302% to 0.00261% of the company. To keep it you'd need 181 more shares - about A$154 at the issue price.
Create a free account to see this worked out for your own holding.
29 May 2007drilling scheduled● Neutral
A 1,507 line km airborne EM (REPTEM) survey is due to start in early June over the 100%-owned Marree project (SA, 2,697 sq km) to map palaeochannels and faults. This follows the West Lake Frome survey. It is a survey, not drilling.
24 Apr 2007drilling result● Neutral
Third Yanrey program was cut short at 1,350m by hard ground. Manyingee's three holes missed target depth; Bennet Well gave modest results, best 1.30m at 292 ppm eU3O8 and 1.05m at 496 ppm, extending mineralisation 1.2km north. Larger rig booked for July or earlier.
29 Mar 2007drilling scheduled● Neutral
A 2,500m drilling program is set to start at Yanrey, targeting the Manyingee Channel next to Paladin's Manyingee deposit and deeper northern extensions of the Bennet Channel. This is the third program, following 4,666m drilled in 2006.
26 Mar 2007investor presentation● Neutral
Conference presentation showing 39.0m shares, 13.1m options, $2.6m cash and a $2.0m 2007 exploration budget. A third Yanrey drilling program is due to start in March 2007. Largely repeats known project information.
22 Mar 2007drilling result▲ Good
An airborne EM survey at the 100%-owned West Lake Frome project (SA) identified the same formations that host the Beverley and Beverley 4 Mile deposits, at depths of 50 to 230m. These are drill targets, not drill results; further interpretation continues to define targets.
14 Mar 2007half year report● Neutral
Half-year to 31 December 2006 accounts. Operations review repeats the uranium portfolio of over 20,000 sq km. Corporate items: 5,000,000 shares issued at $0.50 on 7 December, 900,000 employee options at $0.61 and 3,000,000 director options at $0.75. Financial figures were not in the supplied text.
12 Jan 2007security holder rights change● Neutral
8,600,000 shares and 3,500,000 $0.30 options (expiring 31 July 2007) will be released from escrow on 28 January 2007. Only the shares will be quoted. Administrative; more shares can become tradable.
12 Dec 2006drilling result▲ Good
Field mapping at the Mawson licence (EL3502, SA) found uranium-bearing granite bodies, with rock chips up to 850 ppm U. The area is about 10km from Marathon's Mt Gee resource. Ground surveys follow next quarter; this is surface sampling, not drilling.
10 Nov 2006capital raising announcement▲ GoodMajor
Scimitar arranged a private placement of up to 5,000,000 shares at $0.50 to raise up to $2.5 million, managed by Montagu Corporate, which also gets 1.0m options at $0.75. Funds go to uranium exploration including Eclipse and Glencoe drilling. Settlement is expected around 30 November.
What it means for a shareholder
5.0m new shares at A$0.500 to raise about A$2.5m. That's 60% dilution: every existing holder's slice gets 60% smaller. If you held A$1,000 of shares (2,000 at the issue price), your slice goes from 0.06% to 0.024% of the company. To keep it you'd need 3,000 more shares - about A$1,500 at the issue price.
Create a free account to see this worked out for your own holding.
26 Oct 2006annual report● Neutral
Published 2006 Annual Report, repeating the year's results and portfolio of over 20,000 sq km of uranium tenements. Notes uranium price US$53/lb and a further 2,500m Yanrey program started September 2006. Largely repeats the financial report already released.
25 Oct 2006drilling result▲ GoodMajor
The second Yanrey program (22 holes, 2,485m) expanded the mineralisation, best 1.75m at 695 ppm eU3O8 including 0.65m at 1,511 ppm at YNAC024. That hole sits 1km from other hits and may be a new area of higher grade needing more drilling. Grades are not yet lab-confirmed.
28 Sept 2006annual report● Neutral
Annual financial report for year to 30 June 2006: loss of $983,694 (2005: $263,329). Describes a large uranium portfolio across NT, SA and WA, with Yanrey drilling results; further Yanrey drilling started September 2006 and Lake Frome drilling is expected late 2006 or early 2007.
13 Sept 2006drilling spud● Neutral
The second Yanrey drilling round, 2,500m, has begun. It targets northern extensions of Bennet Well mineralisation plus closer-spaced infill drilling around the earlier hits. This follows the 22-hole, 2,181m first program and the airborne EM survey that identified targets.
7 Aug 2006investor presentation● Neutral
Notice of an audio broadcast with the Managing Director discussing the quarterly report and drill results. No new information.
4 Aug 2006drilling result▲ GoodMajor
Final five holes of the 22-hole, 2,181m Yanrey program gave the best result yet: 3.2m at 600 ppm eU3O8, including 1.0m at 1,340 ppm. Grades are from gamma logging, not yet lab-confirmed. A further 2,500m program is planned for early September.
28 July 2006investor presentation● Neutral
Uranium conference presentation repeating known facts: 34.0 million shares, $1.7 million cash, 20,000 sq km of uranium projects, and drilling under way at Yanrey since June 2006. No new announcements.
25 July 2006drilling result▲ GoodMajor
Interim Yanrey results: 17 holes for 1,622m of the planned 3,000m extended uranium mineralisation south at Bennett Well. Best intercepts were 2.6m at 465 ppm and 1.05m at 559.5 ppm eU3O8. Modest grades; drilling continues.
21 July 2006director officer appointment● Neutral
Non-executive director Matthew Gauci resigned on 21 July 2006 after nearly two years on the board, stepping down to pursue external opportunities. Managing Director Terry Topping remains.
28 June 2006drilling spud▲ GoodMajor
The delayed 3,000m drill program has started at the Yanrey uranium project in WA, after weather and rig delays. A 489 line-km Hoist EM survey is complete and has clearly identified the Bennet channel, providing drill targets.
7 Apr 2006regulatory community update● Neutral
Scimitar applied for another Yanrey licence (E08/1658, 622 sq km), lifting the project to 1,840 sq km. The 3,000m Bennet Well drill program, previously due in April, is delayed by heavy rain until late April.
23 Mar 2006capital raising announcement● Neutral
The $1,000,000 placement announced on 3 March was finalised. This completes the raising at the announced size; the company will apply for quotation of the shares.
17 Mar 2006regulatory community update▲ Good
One Amadeus Basin licence (EL 24704) was granted in the Northern Territory, with two applications, together covering 2,780 sq km south of Alice Springs. Adds another uranium project; Scimitar will target roll-front mineralisation like the nearby Angela deposit.
16 Mar 2006half year report● Neutral
Half-year to 31 December 2005: loss of $253,107 and cash down to $1.32 million from $1.96 million at June. The company says it is moving to uranium exploration and now controls over 20,000 sq km of tenements.
3 Mar 2006capital raising announcement● NeutralMajor
Scimitar arranged a private placement of up to $1 million, issuing up to 3,333,333 shares at $0.30, to fund a 3,000m air core drill program at Yanrey from early April. Brokers also receive 1.11 million options at $0.40.
What it means for a shareholder
3.3m new shares at A$0.300 to raise about A$1.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
