Past year: ▲ 219%(1.80c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
20 June 2024investor presentation● Neutral
CEO presentation (GC 2024) restating the 30.9Mlb Yanrey resource, scoping study and 25,000m drill plan. Shows share price 2.7c on 14 June (market cap ~A$33.1m), down from 4.1c in March, and Parle at 19.9%. No new results.
23 May 2024drilling progress report● Neutral
Yanrey site preparation is nearly done: drill pads almost complete and the camp is operational. Drilling is now expected in early June, a slight slip from the early-May start. No new results.
17 May 2024security holder rights change● Neutral
15m unquoted options granted to Technical Lead Jeffrey Moore: exercise price $0.05, expiring 15 February 2027, issued 16 May 2024. Small incentive grant to the consultant already engaged for the Yanrey program.
22 Apr 2024drilling scheduled▲ Good
Yanrey 2024 program is now 251 holes for about 25,000m, with Wallis Drilling and Wireline Services engaged and Phase 1 (up to 8,000m) cleared to start. Extra heritage surveys are booked for late May; drilling still expected in Q2.
22 Mar 2024investor presentation● Neutral
CEO presentation at the JP Equities event restating the 30.9Mlb Yanrey resource, scoping study, 25,000m drill plan and Melrose work. Notes about $3.3m pro forma cash, 4.1c share price and Parle holding about 18%. No new results.
20 Mar 2024drilling result▲ GoodMajor
Melrose aircore assays found near-surface nickel over a 600x200m area at Target 01: 29 of 65 holes at 0.30% Ni or better, best 12m @ 1.00% Ni from 17m. Weathered-zone only; mineralisation open. RC results on 846m of drilling are due.
14 Mar 2024drilling scheduled▲ Good
Yanrey drilling plan of up to 25,000m in two phases: Phase 1 is 70 holes for about 7,000m from Q2 2024, with approvals in hand; Phase 2 is 188 holes in Q3/Q4. Follows the January exploration target and adds two consultant geologists.
14 Mar 2024half year report▼ Bad
Half-year to 31 December 2023: loss of $2,124,238 versus $1,607,046 a year earlier. Report restates the October placement and rights issue and says Melrose assays were still pending.
1 Mar 2024drilling spud● Neutral
Follow-up RC drilling started at Melrose: six holes for 1,500m to test deeper sources of near-surface nickel/cobalt. Aircore assays are expected within a fortnight. Project area is now stated as about 1,428km2 (previously 1,507km2).
28 Feb 2024other● Neutral
Share registry moves from Advanced Share Registry to Automic from 4 March 2024. Administrative notice with no effect on holdings.
20 Feb 2024capital raising announcement▲ Good
The $2.025M Parle placement was completed: 45m shares issued at 4.5c after the money was received. This finalises the 8 February raising.
What it means for a shareholder
45.0m new shares at A$0.045 to raise about A$2.0m. That's 3.7% dilution: every existing holder's slice gets 3.7% smaller. If you held A$1,000 of shares (22,222 at the issue price), your slice goes from 0.00191% to 0.00184% of the company. To keep it you'd need 860 more shares - about A$39 at the issue price.
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8 Feb 2024capital raising announcement▲ GoodMajor
Cauldron agreed to raise $2.025M from major shareholder Parle Investments, issuing 45m shares at 4.5c. Funds are mainly for Yanrey drilling planned for April-May. Share price has risen well above the 0.9c rights issue price of late 2023.
What it means for a shareholder
45.0m new shares at A$0.045 to raise about A$2.0m. That's 3.8% dilution: every existing holder's slice gets 3.8% smaller. If you held A$1,000 of shares (22,222 at the issue price), your slice goes from 0.00193% to 0.00185% of the company. To keep it you'd need 867 more shares - about A$39 at the issue price.
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2 Feb 2024drilling result● Neutral
Melrose maiden aircore program finished: 110 holes, 4,248m, with 872 samples sent for assay. Rock types that can host nickel were seen over 600m at Target 01, and one fresh sulphide fragment at Target 03. No assays yet; the sulphide is visual only.
24 Jan 2024resource reserve update▲ GoodMajor
Revised Yanrey exploration target across 22 areas: 20.4-66.2Mt at 326-464ppm eU3O8, in addition to the 30.9Mlb resource. It is conceptual only, not a resource. A 25,000m+ drill program is planned for 2024. Later retracted in part (see next).
24 Jan 2024admin correction▼ Bad
After consulting ASX, the company retracted the contained uranium figure (Mlbs) and some average grade and tonnage figures from the exploration target released earlier the same day. Re-issued without them; the tonnage and grade ranges remain.
18 Dec 2023drilling spud▲ GoodMajor
Maiden aircore drilling began at Melrose with Strike Drilling: about 100 holes, up to 5,000m, testing nickel-copper targets including Target 1 (earlier 19m @ 0.32% Ni). Results will guide follow-up RC drilling. E70/6467 and 6468 have been granted.
13 Dec 2023other● NeutralMajor
Bennet Well scoping study for the Yanrey uranium project, assessing a 1.5Mlb a year in-situ recovery operation with a 16.5Mlb production target. It is a low-accuracy preliminary assessment, and mining needs WA's uranium ban policy to change. Financial outputs are not in the visible text.
1 Dec 2023security holder rights change● Neutral
Company constitution lodged, adopted by special resolution at the 30 November 2023 AGM. Replaces the existing rules governing shareholder rights and company administration; the visible text shows no specific changes.
22 Nov 2023investor presentation● Neutral
CEO presentation at the RIU conference, mostly restating known points: the 30.9Mlb Yanrey resource, scoping study due by year end, Melrose drilling. Notes about 1,132m shares, 1.7c price and ~$1.85m pro forma cash. No new results.
10 Nov 2023drilling scheduled▲ GoodMajor
Drilling approval granted for up to 4,000m of aircore at Melrose, starting December. Parle Investments became a substantial holder at 11.55%, and no shortfall went to the underwriter. The Yanrey scoping study is due before year end.
10 Nov 2023other● Neutral
Registry top 20 and spread report for the new CXUAAA options (1.5c, expiring 30 Dec 2025): 229.5m options held by 431 holders. Parle Investments is the largest holder with 16.3%. Administrative.
3 Nov 2023capital raising announcement▲ GoodMajor
Rights issue closed oversubscribed, raising the full $1,427,353 at 0.9c. Applications for $1.62m were scaled back; 158.6m new shares and 52.9m options are to be issued. Canaccord receives 52.9m options as fee. Completes the October raising.
What it means for a shareholder
159m new shares at about A$0.009 to raise about A$1.4m. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (111,115 at the issue price), your slice goes from 0.0114% to 0.00981% of the company. To keep it you'd need 18,101 more shares - about A$163 at the issue price.
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30 Oct 2023annual report● Neutral
2023 annual report. The chairman calls FY23 a year of transition: new CEO, the Melrose acquisition, and a focus on energy transition. Calls Yanrey potentially the most valuable asset, subject to WA's uranium ban. The extract has no financial figures.
30 Oct 2023annual report● Neutral
Appendix 4G and corporate governance statement lodged with the annual report; the statement is on the company website. Administrative compliance filing with no new company results.
25 Oct 2023admin correction● Neutral
Board extends the rights issue closing date by two days to 1 November 2023, with a revised timetable; shortfall quotation now around 8-9 November. Gives shareholders more time to take up entitlements.
19 Oct 2023investor presentation● Neutral
CEO letter to shareholders covering the strong uranium market, Yanrey (30.9Mlb resource), Melrose EM and drill planning, the Blackwood sale and the capital raising. Largely restates known facts; the visible text shows no new company results.
18 Oct 2023capital raising announcement● Neutral
Prospectus and personalised entitlement forms sent to eligible shareholders; the offer opened 18 October and closes 30 October unless extended. If fully subscribed, shares on issue would reach about 1.13 billion. Administrative step in the existing raising.
18 Oct 2023capital raising announcement● Neutral
Letter telling shareholders with registered addresses outside Australia, New Zealand and Hong Kong that they cannot take part in the rights issue. Administrative.
11 Oct 2023asset acquisition disposition▲ GoodMajor
Sale of the 51% Blackwood gold interest is complete; $200,000 received, with $100,000 due by 25 September 2024. Resolves the sale agreed on 5 September and finishes the company's exit from gold, leaving focus on Melrose and Yanrey.
11 Oct 2023admin correction● Neutral
Rights issue timetable revised: issue date moves from 3 to 6 November 2023 and quotation to 7 November, with a shortfall settlement row added. Amended prospectus also corrects option capital structure details. Administrative.
