Each one in plain English, with the numbers worked through for a shareholder.
11 July 2023production update▲ Good
A second shipment of about 13,100t of concentrate is loading at Darwin for Yahua, completing the 18,500t of additional sales agreed in March. Final payment is price-linked and could be adjusted down or up from the April prepayment price.
6 July 2023director officer appointment● Neutral
Pierre Malan (development and exploration, from August) and Paul Benjamin (commercial and marketing, from July) join as executive general managers, completing a 10-month executive recruitment. The Perth head office becomes the registered office from 11 July 2023, completing the move from Adelaide announced in January.
19 May 2023drilling scheduled▲ GoodMajor
The board approved A$45-50M of early works at BP33 (covered box cut, access, water management), awarded to Darwin-based Northern Australian Civil. Final scope, capital cost and investment decision are now expected by end of Q1 CY24, once the larger resource is built into the study.
18 May 2023director officer appointment● Neutral
Andrea Hall joins the board as a non-executive director from 18 May 2023. She sits on the Evolution Mining and Perenti boards and is a former KPMG risk consulting partner.
11 May 2023regulatory community update▲ GoodMajor
The NT Government granted the BP33 mining authorisation and approved its Mine Management Plan, the last approval step before a possible board investment decision. The maiden concentrate cargo (about 5,500t at 5.6% Li2O, for Yahua) is loading at Darwin. A$21M received for the first parcel.
2 May 2023investor presentation● Neutral
Macquarie conference presentation by the CEO. The visible text is only cautionary notes and disclaimers, with no new information in the provided portion.
18 Apr 2023resource reserve update▲ GoodMajor
Total Finniss resource rose 62% to 30.6Mt @ 1.31% Li2O, from 18.9Mt, with Measured and Indicated up 46% to 19.4Mt. New maiden resources at Bilatos and Penfolds were added, and an updated reserve is being prepared. A$25M is allocated to the 2023 drilling.
5 Apr 2023production update▲ GoodMajor
The first 3,500t of concentrate (5.6% Li2O) is at Darwin port ahead of the end-April target, ready to ship to Yahua. Grants pit is dewatered and mining resumed in late March, with the 15,000t second parcel now in production.
23 Mar 2023material agreement▲ GoodMajor
Yahua agreed to buy about 18,500t of extra concentrate: roughly 3,500t of first commissioning concentrate (FOB, ready by end-April) and 15,000t under a prepayment, 80% payable in April. Both are priced to Fastmarkets with no floor or ceiling, and are on top of the 300,000t four-year deal.
9 Mar 2023half year report● Neutral
Half-year report to 31 December 2022 largely restates known events: A$100M raise, DSO shipment, crusher commissioning, leadership additions and the Perth move. Financial statements are not visible in the provided text.
6 Mar 2023resource reserve update▲ GoodMajor
BP33 resource more than doubled to 10.1Mt @ 1.48% Li2O from 4.37Mt @ 1.53%, with 69% in the higher-confidence Measured and Indicated categories. It remains open at depth, and a Finniss-wide resource and reserve update is under way.
27 Feb 2023production update● NeutralMajor
First spodumene concentrate was produced and DMS plant construction is complete. However, water in the Grants pit has held back ore, so part of FY2023's planned concentrate slips to FY2024. First shipment is due to reach Darwin by end-April, with ongoing production expected by July 2023.
6 Feb 2023director officer appointment▲ GoodMajor
Doug Warden, previously CFO of Resolute Mining and Iluka Resources, is appointed CFO from 17 April 2023 after a handover from interim CFO Andrew Forman. This resolves the CFO search begun after Iacopetta's November resignation notice.
12 Jan 2023security holder rights change● Neutral
Letter reminding holders of unlisted options exercisable at $0.45 that they expire on 12 February 2023 unless exercised. Exercising is optional. No new information on the business.
9 Jan 2023director officer appointment● NeutralMajor
Core is moving its head office from Adelaide to Perth, with the Perth office due by mid-2023 and Adelaide closed by end-2023. Melissa Winks joins as sustainability head and Andrew Forman becomes interim CFO from February, replacing departing CFO Iacopetta; permanent CFO search continues.
5 Jan 2023production update▲ GoodMajor
The Rossana sailed from Darwin with the 15,000 dmt DSO cargo at US$951/dmt for a buyer in Fangcheng, China. Core calls it its first revenue event. Focus now shifts to finishing the DMS plant for concentrate production.
30 Dec 2022production update▲ GoodMajor
Loading began at Darwin Port of the first export shipment, 15,000 dmt of DSO at 1.4% Li2O sold at US$951/dmt, bound for Fangcheng, China. This delivers on the end-2022 export target given since FID. Concentrate production is still due H1 2023.
16 Dec 2022drilling result▲ GoodMajor
Near-mine drilling gave Bilatos 61m @ 0.87% Li2O (shallow, 22km from the plant) and Far West 12m @ 1.66%, plus Hang Gong 7m @ 1.86%. These are potential extra ore sources for the Grants plant. Drilling continues, with a larger 2023 program planned.
28 Nov 2022joint venture update● Neutral
Another company, Australasian Metals, announced a research consortium on North Arunta lithium pegmatites with the University of Western Australia, co-funded by Core and three other explorers. Core's share of funding is not stated. Minor, third-party announcement.
24 Nov 2022investor presentation● Neutral
AGM business update presentation. The visible text is only disclaimers, cautionary notes and competent person statements, with no new information in the provided portion.
14 Nov 2022director officer appointment▼ BadMajor
CFO Simon Iacopetta is stepping down after four years and will stay for an orderly transition while Korn Ferry runs a global search. He called the business in sound financial shape. Second senior executive departure within days, after COO Duncan.
11 Nov 2022production update▲ GoodMajor
Crushing began 9 November 2022 and the first DSO truck left Finniss for Darwin Port, with ship loading due at month end. COO Blair Duncan resigned; Mike Stone, ex-Rio Tinto, joins 5 December as COO, and Samantha Rees is the new people and culture head.
27 Oct 2022material agreement termination▼ BadMajor
The 26 October deadline for a definitive Tesla supply agreement passed without one being signed. Core says it will keep talking with Tesla. Ganfeng and Yahua offtake still covers about 80% of the first four years' output.
17 Oct 2022director officer appointment● NeutralMajor
Managing Director Stephen Biggins resigned from the role and the board with immediate effect, earlier than the end-2022 date flagged in March. This completes the handover to CEO Gareth Manderson, who started in August 2022.
10 Oct 2022contract award● Neutral
Primero's parent NRW Holdings announced the same five-year Core operations and maintenance contract, worth about A$60M, with an option to extend. Duplicate of Core's own release; no new Core information.
10 Oct 2022regulatory community update▲ Good
Core held the official opening of the Finniss mine, which it calls the first lithium mine in production in the Northern Territory. DSO export is on target for end of 2022, and about 80% of four-year output is sold to offtake partners. No new figures.
10 Oct 2022contract award▲ GoodMajor
Primero, already building the DMS plant, won a five-year contract to operate and maintain it and the tailings facilities, valued at about A$60M. Concentrate production remains scheduled for H1 2023. This extends Primero's role beyond construction.
5 Oct 2022drilling result▲ GoodMajor
Final three BP33 deep diamond holes confirm the earlier visual results, including 72.74m @ 1.56% Li2O and 22.0m @ 1.60%, to 830m depth. Southern body grade remains variable. Core expects a BP33 resource increase and will bring forward early works using placement funds.
3 Oct 2022contract award▲ GoodMajor
Core's first spodumene DSO tender sold a 15,000 dmt cargo at 1.4% Li2O for US$951/dmt, shipping from Darwin in late Q4 2022. This is the first lithium sale from Finniss and will test logistics ahead of concentrate production in H1 2023.
3 Oct 2022capital raising announcement▲ GoodMajor
Core completed the fully underwritten A$100M placement of about 97.1M shares at A$1.03, citing strong demand from domestic and offshore institutions. Settlement is due 7 October with allotment 10 October. This resolves the raising launched on 30 September.
What it means for a shareholder
97.1m new shares at A$1.03 to raise about A$100m. 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.
