Each one in plain English, with the numbers worked through for a shareholder.
14 Sept 2017asset acquisition disposition▲ GoodMajor
Core agreed to buy Liontown's adjacent Bynoe lithium project, including a mining lease about 1km from Grants and the extension of BP33 (38m at 1.5% Li2O). It adds over 50 historic pegmatite prospects. Price and terms are in Liontown's release.
14 Sept 2017asset acquisition disposition● Neutral
Liontown is selling Bynoe to Core for $1.5M cash plus $2M in Core shares, with a further $1.5M if a 5Mt resource is defined. Shares are escrowed 12 months; deal needs ministerial approvals. Liontown ends with about 8.2% of Core.
14 Sept 2017admin correction● Neutral
Liontown corrects its earlier release: it will receive 39,232,025 Core shares, not 32,232,025, representing 8.2% of Core's issued capital. Correction only, no new deal terms.
6 Sept 2017drilling result● NeutralMajor
First Ringwood RC drilling (35 holes) hit pegmatites up to 150m true width, with best intersections 52m at 0.14% Li2O and 21m at 0.16%. Grades are low, only anomalous, but show lithium potential; a second shallow phase starts this month.
4 Sept 2017security holder rights change● Neutral
Of the listed 5c options expiring 31 August, 17,352,312 were exercised into shares and 66,848,115 lapsed. Shares quoted now total 440,388,835. Exercise raised far less than the full-exercise case of about $5.1M (inference).
30 Aug 2017drilling spud● Neutral
Drilling has started on new pegmatite targets near the Grants resource, beginning with about 2,500m of shallow RAB drilling, then RC drilling of priority targets. Targets came from a ground radar trial; RC assays are expected about 4 weeks after drilling ends.
29 Aug 2017capital raising announcement▲ GoodMajor
Chinese lithium producer Yahua committed to a $2M placement at 6 cents a share, in two $1M tranches of 16.7M shares. Tranche 1 is complete; Tranche 2 needs approvals by 31 October. The two will negotiate a DSO offtake agreement by 31 October 2017.
What it means for a shareholder
16.7m new shares at about $0.0599 to raise about $1.0m. 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.
25 Aug 2017director officer appointment▲ GoodMajor
Blair Duncan, formerly COO of BC Iron, joins as General Manager Project Development to lead a move from explorer to mine developer, starting with a Grants DSO operation. Mining lease application is being prepared; Ringwood RC results are expected in September.
23 Aug 2017drilling result▼ BadMajor
First Zola RC drilling (9 holes) hit pegmatite up to 70m wide, but no assays above 0.1% Li2O, so no economic lithium. Core says the central zone is only a partial test and will drill outlying pegmatites from September.
17 Aug 2017investor presentation● Neutral
Mining the Territory presentation repeats the Grants resource, 6% concentrate test work and Darwin Port agreement. It adds that Core is preparing a mining lease application at Grants and that offtake discussions are maturing. No new results.
3 Aug 2017security holder rights change● Neutral
Core reminds holders that 102.7M listed 5c options expire on 31 August 2017; quotation ends 25 August. Full exercise would lift shares to 490.5M and raise about $5.1M (inference from numbers). Shares closed at $0.071 on 2 August; no underwriting.
31 July 2017quarterly activities report● Neutral
June quarter report recaps the Grants resource, positive mining study, Zola drilling and Ringwood start. Cash is about $6.1M, down from about $7.1M. Shares on issue are 384.2M, with offtake and partner discussions described as maturing.
24 July 2017drilling progress report● Neutral
Drilling has started at Ringwood (swarm over 4km by 2km), and shallow RAB holes have found pegmatite zones 50-100m wide. Zola's first RC program is complete with broad pegmatite in most holes; assays are due in August, Ringwood RC by late August.
21 June 2017drilling spud● Neutral
RC drilling began at Zola, a pegmatite swarm over 1,500m long, with at least 10 holes, finishing in July and assays about 4 weeks later. Ringwood RC is expected in July. Air-core drilling and groundwater bores are also running at Grants, with over 2,500 soil samples collected.
30 May 2017admin correction● Neutral
Administrative notice under the listing rules: 1,000,000 shares held in voluntary escrow will be released after 16 June 2017. No other substance.
29 May 2017other● Neutral
Broker Hartleys has started research coverage of Core, focused on Finniss lithium exploration. The announcement only points to the report on the website and gives no findings, rating or valuation.
12 May 2017security holder rights change▲ Good
Core's application to the federal Exploration Development Incentive was accepted, giving eligible shareholders on the register at 24 May 2017 up to $317,736 in tax credits (about 0.0848 cents per share). Benefit goes to shareholders, not the company's cash.
10 May 2017investor presentation● Neutral
Sydney Resources Round-up presentation repeats the Grants 1.8Mt at 1.5% Li2O resource, 6% concentrate test work, Darwin Port heads of agreement and 2017 drilling plans. Cites market cap about $27M and cash about $7.1M. No new results.
9 May 2017drilling scheduled● Neutral
2017 field season has started at Finniss, with soil surveys and mapping now under way. Shallow RAB and AC drilling is due to start later in May, followed by deeper RC and diamond drilling at Grants, Zola and Ringwood. No new results.
8 May 2017resource reserve update▲ GoodMajor
Core booked its first JORC 2012 resource at Grants: 1.8Mt at 1.5% Li2O (492,000t Indicated, 1,312,000t Inferred) at a 1.0% cut-off. A preliminary mining study is called positive for direct-shipping ore. This delivers the targeted maiden resource.
28 Apr 2017quarterly activities report● Neutral
March quarter report recaps the 6% concentrate test work, the Darwin Port heads of agreement and the new tenure. Cash fell to about $7.1 million from about $8.3 million at the prior quarter. Shares on issue are 374.5M.
4 Apr 2017drilling result▲ Good
New magnetic survey data expands target potential at Ringwood, with some pegmatite targets potentially up to 1.5km long and 100m wide. Rock chips assayed up to 3.1% Li2O. No drilling yet; drilling is planned to resume this quarter after the wet season.
30 Mar 2017investor presentation▲ GoodMajor
Initial test work on Grants core produced a 6.2% Li2O concentrate at 93% stage recovery by flotation. Combined processing is calculated at 6.0% and 80% or better recovery. Core says this supports scoping studies on early direct-shipping ore. Resolves the awaited metallurgy results.
7 Mar 2017material agreement▲ GoodMajor
Core signed a non-binding Heads of Agreement with Darwin Port to potentially export up to 1Mtpa of direct shipping ore or 250,000 tpa of concentrate via East Arm Wharf, 70km from Finniss. A binding agreement is not yet agreed.
2 Mar 2017half year report● Neutral
Half-year accounts to 31 December 2016 show a net loss of $878,544. They record $9.0 million raised via placement and share purchase plan, and shares issued for the EL 29698 and EL 31058 acquisitions. EL 31058 is now complete, closing that open thread.
2 Mar 2017drilling result▲ Good
Final Phase 2 RC and diamond assays at Grants include 34m at 1.37% Li2O (FRCD005) and 23m at 1.51% (FRC041). The pegmatite is continuous over 300m and open below 200m depth. First resource work is due in Q2 2017, and drilling resumes after the wet season.
22 Feb 2017investor presentation● Neutral
Presentation for the RIU conference and investor briefings recaps Finniss drilling results and Grants as a discovery. It cites about $8M cash, no debt, and a market cap of about $32M. It also repeats Napperby and Darwin port logistics. No new results.
21 Feb 2017drilling result▲ Good
Two new Grants RC holes returned 53m at 1.59% Li2O and 42m at 1.60%. Grants is now defined over 300m of strike and open at depth. Final Phase 2 RC results are due late February and first metallurgical results in early March.
15 Feb 2017asset acquisition disposition▲ GoodMajor
Core won a tender for a tenement over the Napperby uranium deposit, NT, with a 2004-JORC Inferred Resource of 9.34Mt at 359ppm U3O8 for 7.39Mlbs. The resource is historic and unverified by Core. Lithium remains the stated focus.
7 Feb 2017drilling result● NeutralMajor
New RC assays at Ahoy, Ahoy East and Far West include 12m at 1.22% Li2O at Ahoy. Spodumene is now found at 6 of 7 prospects drilled. Far West grades are lower and mixed; follow-up showed the earlier 45m intersection was cut oblique to dip, so it overstated true width.
