Each one in plain English, with the numbers worked through for a shareholder.
16 June 2020asset acquisition disposition● Neutral
Liontown says the $1.5M contingent payment for the Bynoe project is now due from Core, triggered by Core's 15 June resource upgrade passing 5Mt on those tenements. Payable within 30 days in cash or shares, at Core's election.
16 June 2020capital raising announcement▲ Good
The share purchase plan raised $2,074,325 through 48.8M new shares, issued 22 June, with no scale back. Applications above $30,000 per holder across the two plans were cut to $30,000. Completes the raise announced in May.
What it means for a shareholder
48.8m new shares at about $0.0425 to raise about $2.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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15 June 2020resource reserve update▲ GoodMajor
Finniss resource rose 52% to 15Mt @ 1.3% Li2O (14.72Mt in the table). Measured and Indicated rose 150% to 7.62Mt @ 1.41%. An updated mine plan and Ore Reserve were due later in June.
12 June 2020capital raising announcement▲ Good
The share purchase plan closed early on 11 June with applications above $2.1M, versus a $1.5M target. Issue date brought forward to 22 June 2020.
28 May 2020capital raising announcement● Neutral
Share purchase plan offer opens to eligible shareholders: $2,500 to $30,000 each at 4.25c, a 24.7% discount to the 5-day average price, targeting $1.5M. Closing date was set for 18 June 2020. Mechanics of the raise announced on 27 May.
27 May 2020listing compliance notice● Neutral
ASX lifts the suspension from market open on 27 May 2020 after the capital raising announcement. Administrative notice only.
27 May 2020capital raising announcement● NeutralMajor
Core raises $5.5M via a placement of 129.8M shares at 4.25c, plus a $1.5M share purchase plan on the same terms. Funds go to Finniss studies, environmental work and drilling later in 2020. Director McComas commits $61,557, subject to shareholder approval.
What it means for a shareholder
130m new shares at $0.0425 to raise about $5.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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22 May 2020listing compliance notice● Neutral
Core requested a trading halt-style voluntary suspension pending a capital raising announcement, to last until the announcement or 27 May 2020 at the latest. Signals a raise is imminent.
22 May 2020material agreement▲ GoodMajor
Core signed a non-binding term sheet with Geneva-based Transamine for 50,000tpa of spodumene concentrate over five years, alongside Yahua's binding 75,000tpa. A binding deal is expected later in 2020, subject to due diligence and Core's final investment decision; an optional financing facility is also mentioned.
11 May 2020security holder rights change● Neutral
500,000 unquoted options (exercise $0.10) expired on 9 May 2020, leaving 43.77M options. Administrative notice only.
5 May 2020regulatory community update▲ Good
Core applied to the NT Government's $89M Local Jobs co-investment fund, engaged OreWin to update the mine plan, and says the resource estimate is nearly done. It targets a 7-10 year mine life, with the updated feasibility study due this quarter.
29 Apr 2020regulatory community update● Neutral
Review of old data identifies gold targets in the Bynoe area near Finniss, e.g. Golden Boulder rock chips up to 15.85 g/t and 48m @ 0.34 g/t in old drilling. Early-stage and unverified; Core says lithium development remains its focus.
23 Apr 2020security holder rights change● Neutral
1,000,000 unquoted performance rights lapsed under their terms, leaving 27.55M performance rights, 44.27M options and 792.5M shares. Administrative notice only; no new commercial information.
15 Apr 2020drilling result▲ Good
Final BP33 gravity test work produced concentrate at 6.0% Li2O with 71% recovery and 0.42% iron. The 2019 feasibility study assumed 5.5% at 72% recovery. Results feed the feasibility study update due this quarter.
7 Apr 2020investor presentation● Neutral
Non-deal investor presentation titled 'Front of the Line'. The text provided is mainly disclaimers repeating the 2019 feasibility study basis; no new information shown.
3 Apr 2020regulatory community update▲ GoodMajor
The NT Government approved Core's Mine Management Plan for Finniss, which Core calls the final regulatory hurdle to start site activities. This resolves the delayed approval flagged in December. Core aims to be construction-ready in 2020, ahead of sourcing debt and equity.
2 Apr 2020admin correction● Neutral
1,269,905 shares held in voluntary escrow will be released after 15 April 2020. Administrative notice only; no new commercial information.
1 Apr 2020security holder rights change● Neutral
1,300,000 unquoted performance rights lapsed under their terms. Share structure now shows 792.5M shares, 28.55M performance rights and 44.27M options. Administrative notice only.
26 Mar 2020regulatory community update● Neutral
Core says COVID-19 will delay its next round of resource drilling in 2020, but the resource upgrade, mine plan and feasibility study updates need no fieldwork and stay on track for H1 2020. Cash was $4M at 31 December. Offtake and financing talks continue.
10 Mar 2020investor presentation▲ Good
New BP33 test work produced concentrate at 6% Li2O with under 0.5% iron and 65-72% recovery, using simple gravity processing. Further test work is due in April. Resource estimates are expected in coming weeks, ahead of the feasibility study update in Q2 2020.
28 Feb 2020half year report● Neutral
Half-year to 31 December 2019: net loss $1.65M (prior period $1.07M). Cash rose to $4.0M from $2.39M, helped by $6.875M of royalty funding from Lithium Royalty Corp and a $0.35M placement. No debt is shown; total liabilities are $0.88M.
13 Feb 2020asset acquisition disposition● NeutralMajor
Core announces a new gold project, Adelaide River (application EL31886), 25km from Finniss, based on historic rock chips up to 170g/t gold. Results are unverified and not JORC-reported. Fieldwork is planned for Q2 2020; Core says lithium remains its focus.
4 Feb 2020investor presentation● Neutral
Corporate presentation at a mining investment event. The text provided is mainly disclaimers and cautionary notes repeating the 2019 feasibility study basis; no new information shown.
23 Jan 2020drilling result▲ GoodMajor
Carlton assays include 35m @ 1.32% Li2O and 32m @ 1.52% Li2O, outside the current resource. At least two pegmatite bodies are confirmed, open to the south and at depth. Core says a significant Carlton resource expansion and maiden reserve are due this quarter.
20 Jan 2020admin correction● Neutral
Share registry provider changed from Security Transfer Australia to Automic Group from 20 January 2020. Administrative notice only; no commercial impact.
16 Jan 2020drilling result▲ GoodMajor
BP33 assays: 107m @ 1.70% Li2O (106.6m, estimated 40m true width), plus 19m @ 1.35% and 14m @ 1.02%, all outside the current resource. Confirms the December visual estimate. BP33 resource upgrade now planned for February; the updated feasibility study is due in the first half of 2020.
17 Dec 2019asset acquisition disposition▲ Good
Core completes the Walanbanba (EL 26848) purchase from Todd River Resources, issuing 1.32M shares (about $0.038, $50,000) escrowed to 30 June 2020. It adds to the Anningie/Barrow Creek holding, now over 3,250km2. Rock chips up to 4.63% Li2O are Todd River's unverified results.
12 Dec 2019drilling result● NeutralMajor
BP33 hole intersected 119m of pegmatite (105m strongly mineralised), outside the current resource and open at 400m depth. Resource and reserve upgrade is now planned for the March 2020 quarter. Mining Management Plan approval is taking longer than expected, and Core now aims to be development-ready as markets improve in 2020.
28 Nov 2019investor presentation● Neutral
AGM presentation. The text provided is mainly disclaimers and cautionary notes repeating the DFS basis; no new information shown.
28 Nov 2019other● Neutral
Chairman's AGM address: says the lithium price is weak and notes Alita Resources' receivership, but stays positive long term. Resources are nearing 10Mt at about 1.3% Li2O. Mentions the death of CFO Erik Palmbachs. No new project figures in the text provided.
