Each one in plain English, with the numbers worked through for a shareholder.
10 Nov 2011regulatory community update● Neutral
Core has started soil sampling and rock chip mapping at its 100%-owned Fitton project, following the earlier 10.5% copper result. Work is under a Work Area Clearance Agreement with native title holders ATLA. Results are expected late November.
Chairman's AGM address recaps the year: $5.0m IPO, the maiden Yorke Peninsula drilling and Fitton copper-uranium results. Cash was $4.36m at 30 June, and the company says it is also looking at acquiring or investing in projects. No new results.
AGM presentation repeats known facts: about $0.09 share price, $3.8m market cap, $3.8m cash at 30 September. Yorke Peninsula follow-up drilling is planned for January 2012 and Fitton results are due by end November. No new results.
Core won $50,000 of South Australian government PACE funding toward an airborne electromagnetic survey on Yorke Peninsula. The survey is brought forward to start next month. Follow-up drilling is still planned for around January 2012.
First Yorke Peninsula air-core drilling gave anomalous copper and high silver at two prospects, e.g. 182ppm copper and 6.7g/t silver at Target A. Only three of six targets reached basement. Follow-up drilling is planned around January 2012, and an airborne EM survey is planned.
First annual report, covering 10 September 2010 to 30 June 2011. The chairman says the share price has fallen since the February listing and calls this of great concern. The company states it owns 100% of all its tenements.
Core has started its first drilling since listing: the 4,000m air-core program on Yorke Peninsula's gravity and magnetic targets. Drilling should take about 3 weeks, with assays 6 to 8 weeks after. This follows the July delay.
Surface rock chips from the Mt Painter project assayed up to 10.5% copper and 624ppm uranium, from a shear zone up to 25m wide mapped over 650m. Core will return for more detailed mapping and sampling. Only surface samples so far.
Jarek Kopias replaces Josh Ward as Company Secretary and Chief Financial Officer from 21 June 2011. He has 15 years of resource-sector finance experience.
Core doubled its maiden Yorke Peninsula air-core program to 4,000m after gravity results. Drilling slips from mid-June to mid-July because the contractor is delayed. Soil results are due in July, and Mt Painter rock chip assays are also expected in July.
First gravity survey found large anomalies (2-4 mgal) along a 12km-long structural zone on Yorke Peninsula, offset from magnetic anomalies, which Core says suggests iron-oxide copper-gold style systems. Infill gravity over 50km2 follows; drilling still planned for mid-June.
3D modelling of Yorke Peninsula magnetic data identified definite drill targets resembling Rex Minerals' Hillside (170Mt at 0.7% copper). Access talks with farmers precede gravity and soil surveys; drilling of priority targets is planned for mid-June, slightly later than the earlier May-June plan.
The Yorke Peninsula survey identified high-priority copper-gold targets in a setting Core says is like Rex Minerals' Hillside (170Mt at 0.7% copper). Soil and gravity surveys come first; drilling is planned for May-June 2011.
First interim accounts, covering 10 September to 31 December 2010: net loss of $262,305. Only $779,500 of IPO subscriptions had been received by balance date, with the company having raised $500,000 seed capital in October.
Core received data from its Yorke Peninsula airborne magnetic survey, saying it exceeded expectations, with interpretation due within days. Breakaway Investment Group also began research coverage. No results yet.
Corporate governance statement against ASX principles. It notes the board is not majority independent, with one independent director of three, and the chair is not independent. Administrative.
Standard ASX listing application form. Records 41.5 million shares, 8.5 million unlisted options, Stephen Biggins as managing director and Greg English as chair. Administrative.
Updated pro forma balance sheet based on the $5 million raised. Shows net assets of about $7.2 million, with about $5.0 million cash and $3.2 million capitalised exploration. Administrative disclosure.
10 Feb 2011asset acquisition disposition▲ GoodMajor
Core confirms completion of its purchase of Sturt Exploration Pty Ltd, issuing 8,000,000 shares and 4,000,000 options at $0.25 expiring June 2014. This secures the main licences set out in the prospectus.
Escrow schedule: 13.875 million shares (11.6 million for 24 months, 2.275 million for 12 months) and 8.5 million options are restricted. Administrative disclosure.
Statement of how the $5.5 million available funds (including $513,395 pre-offer cash) will be spent over two years. Planned work covers Yorke Peninsula, Honeymoon South, Mt Painter, Roxby Downs, Frome and Amadeus. Administrative disclosure.
ASX listing circular confirming quotation of CXO shares from 11 February 2011. Describes the activity as copper and uranium exploration. 11.6 million shares and 8.5 million options are escrowed for 24 months. Administrative.
Terms of the $0.25 options issued to directors, advisers and Sturt vendors, expiring 30 June and 31 October 2014. Administrative disclosure of terms already known.
Core Exploration was admitted to the ASX official list on 10 February 2011, with 27,625,000 shares at $0.20 noted. Trading was due to begin the next day under code CXO.
Applications ELA 27/09, ELA 55/10 and EL 28349 remain pending with no notice of refusal. EL 28349 faces a four-month native title objection period starting after advertising on 9 February 2011.
Administrative cover list of pre-quotation disclosure documents released at listing. It carries no new information itself; the items are covered in the separate releases.
Securities trading policy for directors and staff, setting blackout periods around reports. Administrative governance document with no operational news.