29 Oct 2021other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, dated 29 October 2021. Administrative compliance form with no new company information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 Oct 2021drilling result● NeutralMajor
Two Blackwood holes near the Annie Laurie reef hit an old mined void before reaching their targets, so no gold assays yet. Ground support work, about four weeks, is needed before drilling resumes from the other side. A Prospectors Licence (PL7763) application was accepted.
30 Sept 2021annual report● Neutral
Annual financial report for the year to 30 June 2021. The provided text covers only the directors' report and contents; no financial figures are readable. It records that Jess Oram resigned as CEO on 15 July 2021 to join Paladin Energy, staying as a non-executive director.
8 Sept 2021capital raising announcement▲ Good
The $1.2m placement at 3.4c is completed: 35,294,118 shares and 17,647,059 free 5c options (expiring Nov 2023) were issued. Shares on issue rise to 491,293,630. Confirms the earlier announced raising; the company reports demand of over $2.7m.
7 Sept 2021capital raising announcement● NeutralMajor
Cauldron raised $1.2m via a placement of 35,294,118 shares at 3.4c, a 20% discount to the last close, with one free 5c option per two shares (expiring Nov 2023). Lead manager 180 Markets gets a 6% fee. Funds go to Yanrey seismic, Blackwood drilling, sand and working capital.
What it means for a shareholder
35.3m new shares at A$0.034 to raise about A$1.2m. That's 7.2% dilution: every existing holder's slice gets 7.2% smaller. If you held A$1,000 of shares (29,412 at the issue price), your slice goes from 0.00645% to 0.00599% of the company. To keep it you'd need 2,276 more shares - about A$77 at the issue price.
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16 Aug 2021drilling spud▲ GoodMajor
Underground drilling has started at Blackwood, with Core Prospecting's Kempe rig drilling from the Tyrconnel adit, ahead of the mid-August target. It targets extensions of historically mined high-grade reefs. The first drilling at the project; no results yet.
9 Aug 2021drilling progress report● Neutral
Cauldron installed over 450m of compressed air and water lines in the Tyrconnel adit, and Core Prospecting has begun mobilising, targeting drilling by mid-August. The company says it is fully funded for the program. Preparatory step; no drilling results yet.
12 July 2021director officer appointment▲ Good
Mark Burdett, a structural geologist, is hired as Chief Exploration Geologist for Blackwood, starting August 2021 to guide the underground drill program. He joins Asha Rao and consultant Stewart Govett. Team-building only; no results or cost stated.
5 July 2021contract award▲ GoodMajor
Cauldron signed a services agreement with Core Prospecting for underground diamond drilling at Blackwood, using the Tyrconnel adit. This fills the drilling contractor gap noted in the June quarter. Drilling is expected to start in the coming weeks; no contract cost is stated.
1 July 2021director officer appointment▲ Good
Asha Rao, who helped build the exploration model for Yanrey's Bennet Well uranium deposit, returns as full-time Exploration Manager. She has 16 years' gold and uranium experience and will work on Yanrey and Blackwood. A staffing addition, no results or cost stated.
28 June 2021asset acquisition disposition● Neutral
Cauldron applied for two new exploration licences north of its Yanrey uranium project, which would lift the landholding to 1,860km2 if granted. Applications only, not yet granted. Bennet Well resource restated at 31Mlb; the project is otherwise suspended under WA's uranium policy.
25 June 2021regulatory community update▲ GoodMajor
Melbourne Water consent was received, the final regulatory step for Blackwood underground exploration via the 1.5km Tyrconnel adit, following ERR approval in March. Cauldron is free to start. CEO Jess Oram is to move to a non-executive board role in coming weeks.
1 June 2021asset acquisition disposition▲ GoodMajor
Cauldron is now registered 100% owner of three exploration licences and one miscellaneous licence at the Ashburton River mouth, part of the WA Sands deal. The second share tranche is split: 4m shares now, 4m when ML08/487 transfers. Shares on issue rise to 455,999,512.
25 May 2021director officer appointment● NeutralMajor
Simon Youds, non-executive chair since March 2019, becomes Executive Chair, responsible for turning the sand projects into a cash-generating business. Pay is $4,000 a month fixed plus $100 an hour for project work, up to 160.8 hours a month. Signals sand is now a priority.
6 May 2021material agreement● Neutral
Cauldron signed a lease with Kuuwa Rentals (BTAC-majority-owned) for a mobile concrete batching plant in Onslow, currently not operating. It plans to recommission it to supply regional projects. Moves Cauldron toward concrete supply; lease terms and costs are not stated.
4 May 2021material agreement● Neutral
Cauldron signed a one-year lease of an industrial site in Onslow from Traditional Owner group BTAC, where a idle mobile concrete batching plant sits. It intends to lease and recommission the plant. A small step beyond sand exploration; no cost is stated.
8 Apr 2021regulatory community update▲ Good
The early-April Blackwood site visit to start community engagement is done, which Cauldron calls the last external hurdle before underground sampling and drilling through the Tyreconnel adit. It plans hand-held, low-carbon methods. Continues the March approval; no drilling has started.
1 Apr 2021other● Neutral
Cauldron extends its net zero carbon message to the WA river sand projects, citing a global sand shortage and aiming to limit fuel-powered equipment. Promotional commentary only; the sand acquisition is still subject to conditions, with no new results or figures.
30 Mar 2021other● Neutral
Cauldron commits to a net zero carbon target across its projects, arguing in-situ recovery uranium, narrow-vein gold and sand projects are inherently low-energy. It is engaging expert advice. No new results or financial figures; the Bennet Well field leach trials remain uncompleted.
23 Mar 2021drilling scheduled● Neutral
Cauldron's team will be on site at Blackwood from 29 March 2021 for five to seven days to organise logistics for the approved underground drilling program and begin community engagement. No drilling has started yet.
18 Mar 2021regulatory community update▲ GoodMajor
Victorian regulator approved the Blackwood underground drilling and sampling program ahead of expectations, giving access to over 1.5km of tunnels via the Tyreconnel Adit. This clears the Barry's Reef-area approval and lets equipment and personnel be mobilised.
16 Mar 2021half year report● Neutral
Half-year to 31 December 2020 shows a profit after tax of $143,249, against a $819,643 loss a year earlier. It records the Blackwood 51% interest, the $1.6m placement and the WA Sands agreement. Yanrey was inactive. The source of the profit is not given in the provided text.
15 Mar 2021regulatory community update▲ Good
The Victorian regulator reports Cauldron's plan to re-open over 1.5km of Tyreconnel adit tunnels for underground drilling and sampling at Blackwood is progressing towards approval, with a go-ahead expected mid-year. Restates historic production of about 220,000oz.
11 Feb 2021regulatory community update▲ GoodMajor
Victorian regulators conditionally approved low-impact surface drilling at Rogers Big Hill, Eldorado and Homeward Bound, subject to review of the community engagement plan. Cauldron is seeking a drilling contractor. Underground drilling near Barry's Reef is still awaiting approval. Resolves the work approval thread in part.
9 Feb 2021asset acquisition disposition▼ Bad
Shareholders approved the WA Sands share issues on 29 January 2021 and 4 million initial shares were issued on 1 February. Two tenements face legal problems: MLA09/150 is listed 'dead' after a court ruling under appeal, and ML08/487 is under an interim transfer injunction. Cauldron says neither is material.
23 Dec 2020asset acquisition disposition● NeutralMajor
Cauldron agreed to buy 100% of river sand leases (about 286km2) at the Carnarvon, Onslow and Derby river mouths in WA for 20 million shares, plus $250k, $250k and $500k production payments and a royalty. Needs shareholder approval. A new commodity beyond gold and uranium.
12 Nov 2020regulatory community update▲ Good
Cauldron says it has finished an environmental vegetation study and base-level hydro-geochemistry sampling for Blackwood approvals. It targets Rogers Big Hill drilling in the first quarter of 2021 and underground drilling in the second quarter. Funded by the recent $1.6m placement.
11 Nov 2020admin correction▼ Bad
Cauldron retracted its 28 October 2020 investor presentation after consulting ASX, and reissued it with cross-references to earlier announcements. The Bennett Well production target and peer comparison information are removed. Investors are told not to rely on the original.
6 Nov 2020capital raising announcement▲ Good
Cauldron completed the $1.60 million placement of 51,612,903 shares at 3.1c. The lead manager received 3,096,774 shares and 17,548,387 options as fees. Shares on issue rise to 447,999,512, with 25,806,452 options issued to placement participants.
What it means for a shareholder
51.6m new shares at A$0.031 to raise about A$1.6m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (32,258 at the issue price), your slice goes from 0.0082% to 0.00725% of the company. To keep it you'd need 4,233 more shares - about A$131 at the issue price.
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28 Oct 2020investor presentation● Neutral
Investor presentation promoting the Blackwood goldfield, with about 220,000oz of historic production and untested depth. It shows a 3.9c share price, market capitalisation of $17.5m after the placement, and cash of $692,232 at 30 June 2020. Largely repeats known facts.