3 July 2015other● Neutral
Core commented on Quasar's $71.3m offer for Alliance Resources' 25% of the Four Mile uranium project next to Fitton, and restated old Fitton results such as 60m @ 482ppm U3O8. No new work or Fitton change announced.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 June 2015drilling scheduled▲ GoodMajor
The Northern Territory Geological Survey awarded $96,000 to co-fund a 1,000m diamond drilling program at Inkheart, planned for the second half of 2015, to test beneath earlier RC intersections. This resolves the open question of what comes next at Inkheart.
16 June 2015drilling result▲ Good
Yerelina exploration found a new mineralised shear, Grace, with up to 14% combined lead and zinc in handheld XRF rock chips, taking known high-grade structures to six. Drilling is targeted as early as Q3 2015; these are surface readings only.
4 June 2015drilling result▲ GoodMajor
Geophysical modelling with CSIRO defined 14 potential drill targets along a 15km strike at Jervois, plus a 10km stratiform chargeable zone. Core says drilling needs significant funding and it is negotiating with a possible JV partner. This is modelling, not drilling.
3 June 2015admin correction● Neutral
Core moved its office to 26 Gray Court, Adelaide, saying the move significantly cuts rent. Executive and senior management have voluntarily reduced fees until market conditions improve. Core also cites a South Australian GAP grant and Federal, Territory and State co-funding awarded in 2015.
2 June 2015drilling result▲ Good
New sampling at Yerelina found a gossan over 10m wide at Big Hill, part of a shear zone anomalous in zinc, lead and silver over at least 2km. Channel samples up to 3% zinc. Surface sampling only; the area has never been drilled.
13 May 2015drilling scheduled▲ Good
Initial geophysical modelling with CSIRO has identified multiple potential drill targets at Jervois, notably the Dante prospect. Phase 1 modelling is due by end of May, then ground geophysics and drill planning. The March 2015 drilling start has slipped, and no drill date is given.
13 May 2015investor presentation● Neutral
May 2015 company presentation recaps Jervois multiple drill targets, the NTGS Big-J study, Black Gate soils, Yerelina's PACE-funded drilling and the Fitton uranium discovery. It repeats previously announced facts; no new results in the readable text.
5 May 2015drilling result▲ Good
Soil surveys at the new Black Gate prospect, 25km west of Inkheart, show anomalous zinc, lead and silver, with zinc about an order of magnitude higher than at Inkheart. The anomaly is over 1km and open south. These are soil results, not drilling.
22 Apr 2015drilling scheduled▲ GoodMajor
Core won a $75,000 South Australian PACE grant to co-fund six diamond holes (about 1,000m) at its Yerelina zinc-lead-silver project, planned for the second half of 2015. Rock chips have run up to 14.7% zinc and 567 g/t silver; the area has never been drilled.
21 Apr 2015quarterly activities report● Neutral
March 2015 quarter report: exploration focused on preparing Jervois for first drilling, with CSIRO research under way and regional geochemistry started near Inkheart. Capital stays at 150,486,287 shares, 18.4M unlisted options and 3,925,000 performance rights. Cash figure not in the text provided.
13 Apr 2015investor presentation● Neutral
Uranium conference presentation recaps the Fitton discovery in South Australia, including 60m @ 482ppm U3O8 at Scott Lee drilled in 2012-13. These are old results; no new work is announced, and Fitton remains on hold per earlier updates.
31 Mar 2015investor presentation● Neutral
March 2015 company presentation recaps the Albarta and Jervois projects, the NTGS Big-J study and the pending CSIRO analysis. It appears to repeat known facts; no new results in the readable text.
30 Mar 2015regulatory community update▲ Good
A Northern Territory Geological Survey study independently supports Core's view that the Big-J fold may be an extension of KGL's Jervois geology, with 15km of strike on Core's tenure. CSIRO study now runs to July 2015; soil sampling and ground geophysics come first. Drilling is not re-dated in the text.
19 Mar 2015agm notice● Neutral
Both general meeting resolutions, ratifying shares and options issued in the previous 12 months, passed on a show of hands. Proxy votes were about 18.2M for and 129,000 against. Administrative, covering the placements already announced.
19 Mar 2015security holder rights change● Neutral
Notice that 5,000,000 escrowed shares, part of the Albarta buyout consideration, will be released from voluntary escrow after 3 April 2015. These shares can then be sold, which is a potential supply increase. The other 5M stay escrowed to October 2015.
27 Feb 2015half year report● Neutral
Half-year report to 31 December 2014 shows a net loss of $226,646. It restates the period's activity: Jervois airborne surveys, Inkheart silver-lead intersections, and completed Virginia and Copper Royals drilling. No new information in the extract.
10 Feb 2015material agreement▲ Good
Core signed a Federal Government co-funded research agreement with CSIRO to analyse airborne EM and magnetic data over Jervois and Albarta. Phase 1 targets Jervois extensions; Phase 2 is regional. It formalises the CSIRO alliance ahead of the maiden Jervois drilling. No funding amount stated.
30 Jan 2015security holder rights change● Neutral
5,750,000 unlisted performance rights held by directors and officers lapsed on 29 January 2015 because performance conditions were not met. 3,925,000 unvested rights remain on issue. No cash or share count change.
29 Jan 2015drilling scheduled▲ Good
Final Jervois airborne data are in and, per Core, confirm conductive zones; early processing suggests target depths of 100-300m, suited to RC drilling. CSIRO modelling is due in February, with drilling planned for March 2015. No drill results yet.
23 Jan 2015drilling result▼ BadMajor
All Virginia (12 holes) and Copper Royals (6 holes) results are in: anomalous copper and zinc but no significant mineralised zones. The Virginia copper is described as inconsistently mineralised. This disappoints the copper drilling flagged since October; Core now turns to Jervois, with drilling planned for March 2015.
19 Jan 2015quarterly activities report● Neutral
December 2014 quarter report: Virginia and Copper Royals drilling completed, and Jervois is now the main NT focus, with drilling scheduled for March 2015. A $249,000 R&D refund arrived in January, on top of the $750,000 placement. Shares on issue are 150.5M.
23 Dec 2014drilling result● Neutral
First 5 of 12 Virginia holes show elevated copper, best 3m at 0.9% copper from 3m (VGRC003), with two holes showing nothing significant. Core says this confirms a mineralised structure at depth. Remaining assays and Copper Royals results are due early January.
1 Dec 2014capital raising announcement● NeutralMajor
Core raised $750,000 via a placement of 15,000,000 shares at 5c, an 11% discount to last close, each with a free 10c option expiring 31 January 2016. Fees are 6%. Funds support Q1 2015 Jervois drilling and copper follow-up. Shares on issue rise to about 150.5M.
What it means for a shareholder
15.0m new shares at $0.050 to raise about $750,000. 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 Nov 2014drilling spud● NeutralMajor
RC drilling has started at Virginia, the first ever drilling there, to be followed by Copper Royals targets about 20km west. First assays are expected in 3-4 weeks. This starts the copper drilling flagged since the October quarter report.
24 Nov 2014director officer appointment● Neutral
Non-executive director Michael Schwarz, on the board since the 2011 IPO, will retire effective 28 February 2015. No replacement is named in the announcement.
18 Nov 2014drilling scheduled▲ Good
The Virginia airborne survey found a significant conductive target below the 1.5km outcropping copper zone, where 75 rock chips average 2.4% copper. Core adds drill holes to test it; there has been no previous drilling there, and RC drilling is planned for late November.
11 Nov 2014drilling scheduled● Neutral
Core has extended the airborne EM survey over Virginia and at least nine Copper Royals prospects before drilling. Preliminary results are expected in 2-4 weeks, with drilling to start as soon as they arrive. This follows the Jervois survey and adds a step before the copper drilling.
7 Nov 2014drilling result▲ GoodMajor
Preliminary airborne survey data at Jervois show large conductive targets, including a cluster 2-3km long about 5km east of KGL's 25Mt copper resource. Final modelling with CSIRO is due December 2014, and drilling is planned for Q1 2015. These are targets, not drill results.
3 Nov 2014admin correction● Neutral
32,716,567 listed 10c options lapsed unexercised on 31 October 2014, as did 1,500,000 unlisted options at $0.2463. No cash was raised from the listed options. Shares on issue stay at 135,486,287.