8 Oct 2024admin correction● Neutral
Corrected letter to eligible shareholders, fixing the earlier version's mixed-up terms. Confirms 1-for-11 at 1.8c, up to $2.02m, closing 17 October. No new information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Oct 2024capital raising announcement● Neutral
Rights issue opens 8 October and closes 17 October 2024, with the offer letter sent to eligible shareholders. Same terms as before: 1-for-11 at 1.8c, up to $2.02m. Administrative step in the existing raising.
8 Oct 2024admin correction● Neutral
Letter to eligible shareholders on the rights issue. Its text contains wording errors (a 1-for-6 at $0.009 description alongside the correct 1-for-11 at 1.8c), which a corrected letter later replaces. Otherwise no new substance.
8 Oct 2024capital raising announcement● Neutral
Letter telling shareholders with registered addresses outside Australia, NZ, Singapore, Hong Kong and the UK that they cannot take part in the 1-for-11 rights issue at 1.8c. Administrative notice; no new substance.
30 Sept 2024agm notice● Neutral
The 2024 AGM is set for 28 November 2024, with director nominations closing 13 October 2024. Administrative notice only.
30 Sept 2024capital raising announcement● Neutral
Prospectus for the rights issue announced 27 September: 1 new share for every 11 held at 1.8c, with a free option per 4 shares, to raise about $2.02m, underwritten by Canaccord Genuity. Also offers options to the underwriter and placement participants. Formal paperwork for the known raising.
27 Sept 2024annual report● Neutral
Annual financial report for year ended 30 June 2024, now audited by BDO Audit Pty Ltd. Lists the same board (Mulholland chair, Fry executive director). Provided text is only the directors' section, so no financial figures are drawn here.
27 Sept 2024capital raising announcement● NeutralMajor
Raising about $4.024m at 1.8c a share: a $2.0m placement (111m shares) plus a fully underwritten $2.02m rights issue, with 1 free option per 4 shares (1.5c, expiring 30 Dec 2025). Replenishes cash that fell to $1.94m at 30 June; issue price is below the 2.0c August price.
27 Sept 2024auditor change● Neutral
BDO Audit Pty Ltd replaces BDO Audit (WA) Pty Ltd as auditor after BDO WA restructured its audit practice, with ASIC consent. Same firm group, so effectively administrative; shareholders confirm at the next AGM.
18 Sept 2024drilling result▲ GoodMajor
Eight more Manyingee South holes extend the mineralised north-south trend to at least 2km, open both ways, with ~600m width across the channel. Best: 3.00m @ 880ppm eU3O8 (including 2.40m @ 1,015ppm). Builds on the 11 September discovery of 1.5km.
11 Sept 2024drilling result▲ GoodMajor
First four holes at Manyingee South (Target 15, 4.5km south of Paladin's Manyingee) all hit uranium, best 4.12m @ 622ppm eU3O8. Company calls it a discovery continuous over 1.5km, open in all directions. It is the best result of the 2024 campaign so far.
27 Aug 2024drilling result▲ Good
Second batch of Bennet Well infill results (17 holes), best 1.10m @ 580ppm and 2.02m @ 478ppm eU3O8; mineralisation appears open to the north. Drilling will move to Targets 5 and 6, about 2km north, and the Manyingee South channel.
15 Aug 2024investor presentation● Neutral
AMEC presentation making the case for uranium and a lifting of the WA ban, restating the 30.9Mlb resource and first drill results. Share price 2.0c on 9 August (market cap ~A$24.5m); cash $1.94m. No new results.
8 Aug 2024drilling result▲ GoodMajor
First Yanrey results: 18 of 20 holes were infill at Bennet Well and matched expected grade and thickness. A twin of a 2015 hole returned 7.00m @ 543ppm eU3O8, validating the drilling method. Drilling now moves to north and south extensions and the Manyingee area.
31 July 2024quarterly activities report● Neutral
June quarter report: cash fell to $1.94m from $2.851m. Yanrey drilling has completed 17 holes (2,233m). Melrose RC assays showed anomalous nickel but extra electron-microscope testing delayed the results, as sulphides seen were linked to a granite contact.
10 July 2024drilling spud▲ GoodMajor
Yanrey aircore drilling began on 10 July, delayed from early June by heavy rain; the company says the 251-hole, ~25,000m program is not meaningfully affected. All approvals and the heritage survey are complete. First results are expected in two to three weeks.
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.
29 Apr 2024quarterly activities report● Neutral
March quarter report: cash $2.851m at 31 March. Melrose aircore assays are restated (29 of 65 Target 01 holes at 0.30% Ni or better) and RC results are still due. Yanrey's 25,000m drilling is expected in coming weeks, with drilling approvals received after quarter end.
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.