Each one in plain English, with the numbers worked through for a shareholder.
17 Feb 2021drilling result▲ Good
First shallow RAB drilling at Bynoe's Far East gold trend found gold along the whole 1,600m, best 10m @ 1.5g/t from 7m. About a third of 74 holes were above 0.5g/t. Holes average only 20m deep; early reconnaissance, with more drilling likely.
More Grants assays support the resource, including 31m @ 1.65% Li2O and 36m @ 1.34% Li2O. One hole hit about 55m of pegmatite outside the current resource, with assays awaited. A resource upgrade is expected next month and the updated DFS is now stated for Q2 2021.
Bell Potter Unearthed conference presentation, 10-11 February 2021. The visible text is disclaimers and references to earlier studies, resources and reserves, with no new figures. Text is truncated.
Core raised $40M through a placement of 160M shares at $0.25 to institutions, a 4% premium to the 20-day VWAP, with one free $0.45 two-year option per two shares. Funds go to Finniss development, resource drilling and working capital; construction is anticipated before year-end, subject to FID.
What it means for a shareholder
160m new shares at $0.250 to raise about $40.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
At Core's request, ASX suspended trading in its shares pending a share placement announcement, expected by 4 February. This follows a trading halt requested on 1 February. It signals a capital raising is imminent.
December quarter report: Grants resource drilling completed, new Bynoe gold prospects reported, and acceptance into the European Raw Materials Alliance. Issued shares rose to 1,002,430,321. Cash figures are not visible in the truncated text.
January 2021 update presentation by the Managing Director. The visible text is disclaimers and references to earlier studies, resources and reserves, with no new figures. Text is truncated.
Core was granted a 25-year Mineral Lease for the BP33 deposit, its second lithium mining lease after Grants in 2019. This secures development tenure for BP33; the company's earlier-flagged environmental approvals for BP33 are not covered in this announcement.
ASX queried a share price jump from $0.087 to $0.19 and higher volume. Core said it knows of no undisclosed information, pointing to Yahua's reported five-year Tesla supply deal, rising lithium prices, record EV sales and pending drill results.
Core finished its 2020 resource drilling at Grants, with three rigs. The only assay so far is 17m @ 1.51% Li2O, in line with the existing resource. More assays are due in January ahead of an updated resource; Core expects many Inferred tonnes to convert to Indicated.
Core found four new gold prospects along a 1,600m trend at Bynoe, with over 80 gold nuggets (up to 5g), soils to 32g/t and rock chips to 30g/t. Still surface sampling; a short first drilling test is planned before year end. Core says lithium remains its focus.
ASX queried a share price rise from $0.049 to $0.078 and higher volume. Core said it knows of no undisclosed information, pointing to rising lithium prices, record EV sales, and its stated closeness to binding offtake and customer finance.
Chairman's AGM address restates known points: seven-year mine life, offtake covering about 85% of early output (only Yahua binding), and a DFS being completed. Chair says all BP33 approvals are expected in early 2021 and the company is well funded.
Administrative release of the revised constitution approved at the AGM. It is the document itself, with no business or financial information in the visible text.
2020 AGM presentation by the Managing Director. The visible text is disclaimers and references to earlier announcements, with no new information. Text is truncated; the price query response later cites it as saying Core is close to binding offtake and customer finance.
All six AGM resolutions passed on a poll. The remuneration report got 88% support, and the placements of 13.5M and 21.7M shares were ratified. The constitution change and 10% placement capacity also passed.
Mining 121 virtual conference presentation, 'Australia's Next Lithium Producer'. The visible text is disclaimers and references to earlier studies, resources and reserves, with no new figures. Text is truncated.
Rock chips at new Bynoe prospects returned up to 20g/t gold at Kellermeister, with Rosella samples above 1g/t. Based on only eight and two samples, so first-pass surface results, not drilling. Core says it remains focused on Finniss lithium.
Core was accepted into the European Commission's new European Raw Materials Alliance, adding to its European Battery Alliance membership from July. No financing or offtake results; Core still targets 2022 production and calls conversion of the Transamine MOU to binding 'inevitable' (company view).
Re-assaying old lithium soil samples found another Bynoe gold prospect, Piper North, with soil gold up to 536ppb over a 200m x 500m anomaly. Early surface sampling only, no drilling; it adds to Pickled Parrot and Covidicus West.
September quarter report: Grants environmental approval extended to a seven-year operation, resource drilling restarted at Finniss, and new gold prospects found at Bynoe and Adelaide River. Issued shares are 994,330,321. Cash figures are not visible in the truncated text.
The second diamond rig is now drilling at Finniss, as the 4,000-5,000m resource expansion program continues at Grants and BP33. It is still expected to finish in November. No new drilling results are reported.
Visible gold was found at surface at Pickled Parrot, with soil gold now up to 1.9g/t and a vein system over 100m wide, 700m from the 106g/t Covidicus West sample. Still early surface sampling, not drilling.
Resource expansion drilling has restarted at Finniss, with the first diamond rig drilling and a second due within a week. The 4,000-5,000m program targets Grants and BP33 extensions and is due to finish in November. This fulfils the expected September start.
Rock chips at the new Covidicus West gold prospect at Bynoe assayed up to 106.5g/t, with visible gold seen, within a vein system at least 180m long. These are first-pass surface samples, not drilling. Core says it remains focused on Finniss lithium.
Benchmark World Tour presentation titled 'Front of the Line, New Lithium Production'. The text provided is mostly disclaimers and repeats earlier studies and announcements, with no new figures visible. Text is truncated.
The NT environmental regulator has said the BP33 underground mine will be assessed through a Supplementary Environmental Report, a lighter process than a full impact statement. This is a step in BP33 permitting, not an approval. Core expects BP33 to meet requirements.
Re-assaying old lithium soil samples found a new gold prospect, Pickled Parrot, with soil gold up to 0.8g/t, and extended the Golden Boulder vein system to at least 400m long. These are early surface results, not drilling. Core says it is considering restructuring its gold and silver assets.