Each one in plain English, with the numbers worked through for a shareholder.
25 Nov 2019drilling result▲ GoodMajor
All six completed deep RC holes at Carlton hit spodumene pegmatite over 31m wide (up to 44m), extending it about 100m deeper and 100m south, plus a second body. Assays are due in about 3 weeks; core expects a maiden Carlton reserve and larger resource.
28 Oct 2019drilling scheduled▲ Good
Core identifies two new pegmatite prospects at Finniss, Hendersons West (2km from Grants, 240m long) and McGrants (700m from Grants, 150m long). Deep RC drilling is planned in coming weeks. Early-stage targets only; no grades reported.
17 Oct 2019director officer appointment● Neutral
Malcolm McComas, a former investment banker (head of investment banking at County NatWest, director at Grant Samuel), joins as non-executive director. Core says it is strengthening the board as it moves toward development. Ratification vote is at the 28 November 2019 AGM.
15 Oct 2019asset acquisition disposition● Neutral
Core acquires from Lithium Plus the rights to apply for an ancillary mineral lease at Finniss for $50,000 in shares (1.27M). The lease would add water availability; existing tenements cover 70% of water needs. The 11 October share price is corrected to $0.038.
15 Oct 2019admin correction● Neutral
Re-release of the 14 October BP33 drilling announcement. Text is identical except for an updated Figure 2; no new information.
14 Oct 2019drilling result▲ GoodMajor
Thick high-grade BP33 results, including 52m @ 1.28% Li2O and 56.75m @ 1.81% in a deep diamond hole, with grade rising at depth. Core expects a substantial BP33 Ore Reserve increase and sees potential for bulk underground mining; no new resource figure yet.
11 Oct 2019asset acquisition disposition● Neutral
Core agrees to buy two NT lithium tenements, Walabanba and Soldiers Creek, from Todd River Resources for $50,000 in shares each (2.64M shares in total), subject to due diligence. Both are near existing projects; small, early-stage additions.
9 Oct 2019drilling result▲ GoodMajor
First assays from the Finniss resource-growth drilling include 47.4m @ 1.53% Li2O at Grants, 31m @ 1.13% at Carlton and 13m @ 1.56% at Hang Gong. Core expects part of the Hang Gong target to convert to resource, though hole collapses limit tonnage.
25 Sept 2019annual report● Neutral
2019 Annual Report restates known facts: DFS (A$73M capex, A$114M NPV, 3.5-year life), $8.125M LRC royalty, US$20M Yahua prepayment. Management says it is working on a material mine-life increase and is considering equity and debt for project financing. Financial figures not shown in text.
25 Sept 2019other● Neutral
Appendix 4G and 2019 Corporate Governance Statement for the year to 30 June 2019, lodged as required. Administrative; no new commercial information. The excerpt shows the gender diversity recommendation was not followed.
13 Sept 2019investor presentation● Neutral
Benchmark World Tour presentation. The text provided is mainly disclaimers and cautionary notes repeating the DFS basis; no new information shown.
10 Sept 2019drilling progress report● Neutral
Core reports spodumene pegmatite in recent Finniss drilling, including 51m and 60m intersections at BP33, in line with expectations. Assays are delayed by a lab fault, due within two weeks; a second drilling round has started.
5 Sept 2019investor presentation● Neutral
Mining The Territory conference presentation. The text provided is mainly disclaimers and cautionary notes repeating the DFS basis; no new information shown.
5 Aug 2019investor presentation● Neutral
Diggers and Dealers conference presentation. The text provided is mainly disclaimers and cautionary notes, repeating the DFS basis; no new figures shown.
10 July 2019capital raising announcement▲ GoodMajor
LRC got unconditional FIRB approval, so the A$6.875M held in escrow is released to Core. The SPP underwriters also took 8.75M shares at 4c ($0.35M). Core cites $11.8M raised across the SPP, royalty and placement; shares now 786.9M.
What it means for a shareholder
8.8m new shares at $0.040 to raise about $350,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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9 July 2019drilling spud▲ Good
Core has started resource-growth and exploration drilling at Finniss with one RC and one diamond rig, planned through the rest of 2019. It funds this with the SPP and LRC money. 50 more pegmatite targets are identified; no results yet.
27 June 2019capital raising announcement▲ GoodMajor
The SPP closed oversubscribed, raising $3.3M at 4c (83.725M shares, versus $2M targeted), lifting shares on issue to 778.2M. The first $6.9M of LRC royalty funds is expected in July. Money will fund resource drilling and exploration ahead of a final investment decision.
What it means for a shareholder
83.7m new shares at about $0.0394 to raise about $3.3m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
24 June 2019admin correction● Neutral
58.1M unlisted options at 8c lapsed on 21 June 2019. Core also issued 4M unquoted underwriter options (6c, expiring 30 June 2022) for the SPP, as announced on 5 June. Administrative; no cash raised.
20 June 2019capital raising announcement▲ Good
The SPP drew demand above the $2M target. Closing is extended to 24 June and Core is considering raising more to limit scale-backs. Share issue moves to 27 June.
18 June 2019regulatory community update▲ GoodMajor
The NT environment regulator delivered a positive Assessment Report on Grants, completing the environmental impact assessment. Core will now submit a Mining Management Plan, with authorisation expected next quarter. This advances the open approvals thread, though full approval is not yet granted.
5 June 2019capital raising announcement● NeutralMajor
Core offers shareholders a Share Purchase Plan to raise up to $2.0M at 4.0c, partly underwritten to $1.0M, alongside the $8.1M LRC royalty. Underwriter gets a 5% fee and 4M options at 6c. Funds go to Finniss development, resource drilling and working capital.
5 June 2019asset acquisition disposition▲ GoodMajor
Lithium Royalty Corp pays A$8.125M for a 2.5% gross revenue royalty over Finniss. A$6.875M is held in escrow until FIRB approval (expected within 8 weeks); A$1.25M depends on a 15Mt resource and 14 days of continuous plant operation. A non-dilutive funding source.
5 June 2019capital raising announcement● Neutral
Offer booklet for the SPP announced the same day: eligible Australian and NZ holders can apply for $2,500-$15,000 of shares at 4.0c, a 10.4% discount to the 5-day average price. MIMO Strategies underwrites $1.0M. Closes 21 June; no new commercial information.
28 May 2019material agreement▲ Good
Core has received expressions of interest in buying fine lithium, a by-product of 200,000-250,000tpa, at indicative US$50-75/t. It is not in the DFS, and there is no binding deal yet. Binding offtake is targeted in coming months.
21 May 2019investor presentation● Neutral
Strategy presentation, 'Beyond 10 Million Tonnes', on exploration, resource and reserve expansion for 2019/2020. The text provided is mainly disclaimers and repeats the known Hang Gong and Lees-Booths Exploration Targets; no new figures are shown.
6 May 2019resource reserve update▲ GoodMajor
Maiden Lees resource of 0.78Mt @ 1.3% Li2O (Inferred) lifts the Finniss total to 9.63Mt @ 1.3%. A 2-3Mt Exploration Target (conceptual) is also defined at Lees-Booths Link. Follow-up drilling is planned in coming months.
17 Apr 2019investor presentation● Neutral
Presentation of the DFS released the same day. Text provided is mainly disclaimers and cautionary notes, with no new information beyond the DFS announcement.
17 Apr 2019resource reserve update▲ GoodMajor
DFS and maiden Ore Reserve (1.4% Li2O) for Grants and BP33: capex A$73M, pre-tax NPV A$114M, IRR 80%, payback 1.5 years, up to 180,000tpa concentrate. Capex is up from PFS A$53.5M and NPV down from A$140M. Construction targeted 2H 2019, production 1H 2020, subject to financing and approvals.
1 Apr 2019material agreement▲ GoodMajor
Core and Yahua expanded the existing binding offtake by 50% to 75,000tpa of 5.5% Li2O concentrate, covering 300,000 dry tonnes to 30 November 2023. It has a price floor and ceiling for the first 2 years and covers about 40% of Grants and BP33 production.
27 Mar 2019drilling result▲ Good
New BP33 drilling returned 76m @ 1.78% Li2O and 51.75m @ 1.72%, and will feed into the DFS. The DFS slips from end of March to April 2019.
