Each one in plain English, with the numbers worked through for a shareholder.
15 Sept 2020annual report● Neutral
The 2020 annual report restates known milestones: resources up over 50%, reserves up 150%, seven-year mine life, and non-binding Transamine and Xinfeng offtake alongside binding Yahua, about 85% of early output. It says the definitive feasibility study is being completed. Text is truncated, so financials are not shown.
15 Sept 2020other● Neutral
Administrative filing of the Appendix 4G and 2020 corporate governance statement, lodged with the annual report. No new information on the business.
10 Sept 2020asset acquisition disposition▲ GoodMajor
Core has received several expressions of interest in its non-core Blueys silver project near Alice Springs and is weighing a sale or restructure of its silver and gold assets. No price or deal is agreed; Finniss lithium stays the focus.
31 Aug 2020other● NeutralMajor
Core now targets FID in 2021, not 2020, timed for an expected lithium price recovery, and will upgrade the study to definitive level in Q1 2021. It is evaluating higher capacity, grid power and a deeper Grants mine. A resource drilling campaign is expected to start next month.
19 Aug 2020capital raising announcement▲ GoodMajor
Core signed a non-binding MOU with Xinfeng for 20,000-30,000tpa for three years, with potential project finance. A $1M placement to Xinfeng at 4.6c is escrowed 12 months. Yahua, Transamine and Xinfeng together equal about 85% of capacity, but only Yahua is binding.
5 Aug 2020debt financing▲ GoodMajor
NT Government's Local Jobs Fund offered a non-binding term sheet for a $5M concessional loan: 36 months at BBSW+2%. It is conditional on binding offtake for at least 50% of production, balance of funding and a final investment decision. Resolves the May application outcome, only indicatively.
30 July 2020quarterly activities report▲ Good
June quarter report recaps the resource increase of over 50%, the reserve increase and doubled mine life, Transamine offtake and mine plan approval. Finniss remains subject to financing. Adds gold targets at Bynoe and Adelaide River. Text provided is truncated, so cash is not shown.
24 July 2020security holder rights change● Neutral
4,133,334 performance rights and 1.5M options (exercise price $0.07, expiring September 2020) lapsed. Share count is confirmed at 972,591,191, with 42.27M options and 21.97M performance rights remaining. Administrative notice only.
20 July 2020drilling result▲ Good
Further review of historic data at Adelaide River identifies three more gold prospects, with old rock chips up to 56.2 g/t. These are historic results, not new drilling. Core says its lithium construction-ready timeframe is unchanged.
14 July 2020other▲ Good
Core joined the European Battery Alliance, a network of more than 440 industry and government players, following its non-binding Transamine deal. The company says this could open market contacts and funding partners. No contract or financing results from it. Exports are now targeted for 2022.
10 July 2020agm notice● Neutral
All five resolutions passed at the 10 July general meeting, ratifying earlier share issues and approving the director placement shares (McComas's participation in the May raise). Support was 59% to 94%; the first ratification, of 128.4M shares, got the lowest at 59%.
8 July 2020drilling result▲ Good
A review of historic data at the Adelaide River gold application shows old rock-chip results up to 170 g/t gold at Possum. These are not new Core drilling. Core stays focused on lithium and plans fieldwork later this year.
7 July 2020asset acquisition disposition● Neutral
Core will pay Liontown the final $1.5M in cash, before 14 July, for the Bynoe project, from cash of $8.5M at 30 June. This resolves the contingent payment triggered by the 15 June resource upgrade; Bynoe also gave access to the Greenbushes water dam.
1 July 2020regulatory community update▲ Good
NT's environmental regulator accepted extending the Grants mine and processing plant approval to 7 years, with no full environmental impact statement needed. This aligns permitting with the new reserve-backed mine life. BP33 will be assessed separately under new NT rules.
30 June 2020resource reserve update▲ GoodMajor
Finniss Ore Reserve rises 159% to 5.7Mt, backing a 7-year mine life (roughly double the 2019 study's 3.5 years). It adds maiden underground reserves at BP33 and Carlton, with start-up capital said to be materially unchanged. Core targets FID in 2020.
23 June 2020investor presentation● Neutral
Mines and Money presentation titled 'Front of the Line'. The text provided is mainly disclaimers, citing the 2019 feasibility study and the 15 June resource upgrade. No new information shown.
19 June 2020admin correction● Neutral
1,317,792 shares in voluntary escrow will be released after 30 June 2020. These are the shares issued for the Walabanba acquisition. Administrative notice only.
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.
Create a free account to see this worked out for your own holding.
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.
30 Apr 2020quarterly activities report● Neutral
March quarter report recaps BP33 107m @ 1.70% Li2O, Carlton results and the Mine Management Plan approval. Issued capital is 792.5M shares. Offtake and finance talks continue; the text provided shows no cash figure or new results.
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.
