24 Nov 2023agm notice▼ Bad
All four AGM resolutions passed, but 25.4% voted against the remuneration report, a 'first strike'. Chair Greg English's re-election passed with 32.0% against.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Nov 2023investor presentation● Neutral
Site visit presentation on the Grants operation and BP33 project. Only the disclaimer pages are visible, so no new information can be confirmed from the text provided.
10 Nov 2023other● Neutral
Administrative notice of a retail shareholder webinar on 14 November 2023, hosted by the CEO and CFO, covering Grants operations, BP33 progress and FY24 growth strategy. No new business information.
27 Oct 2023investor presentation● Neutral
Slide presentation accompanying the September quarterly report, an investor call hosted by CEO Gareth Manderson. It repeats results already reported in the quarterly; no new information is visible in the text provided.
27 Oct 2023quarterly activities report▲ Good
September quarter: concentrate production 20,692t (14,685t prior quarter), lithia recovery averaging 50%, October around 55%. Cash is A$202.1M after the raising (A$107.9M net). BP33 box cut excavated; early works progressing, feasibility study still due Q1 CY24.
26 Oct 2023other● Neutral
Administrative notice that the September quarterly report will be released on 27 October 2023, with an investor and analyst call at 11:30am AEDT. No new business information.
16 Oct 2023resource reserve update▲ GoodMajor
The BP33 resource rose to 10.5Mt @ 1.53% Li2O from 10.1Mt @ 1.48%. The Measured and Indicated share rose to 9.36Mt (89%), up from 6.94Mt, so more can be considered for conversion to Ore Reserves for the updated feasibility study.
29 Sept 2023agm notice● Neutral
Administrative notice: Core's annual general meeting is planned for 24 November 2023, with director nominations closing 12 October 2023. It also includes the 2023 Corporate Governance Statement and Appendix 4G.
29 Sept 2023annual report▲ GoodMajor
First full-year profit: FY23 revenue A$50.6M, EBITDA A$14.0M, net profit A$10.8M, operating cash flow A$90.8M, cash about A$153M, no debt. FID for BP33 remains on track for the March quarter.
29 Sept 2023annual report● Neutral
The 2023 Annual Report covers the first year of production: 18,274t concentrate produced, revenue A$50.6M, cash A$152.8M, no debt. It restates the 30.6Mt Finniss resource and FY24 guidance, with no new announcements in the visible text.
22 Sept 2023capital raising announcement● NeutralMajor
The share purchase plan raised about A$11.4M, issuing 28,418,750 shares at A$0.40, below the A$20M target. With the A$100M placement, total equity raised is about A$111.4M.
What it means for a shareholder
28.4m new shares at A$0.400 to raise about A$11.4m. 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.
8 Sept 2023production update▲ GoodMajor
The first 10,000t concentrate delivery into Ganfeng's long-term offtake and the first 15,000t fines parcel (1.2% Li2O) have been loaded on the Clearwater Bay at Darwin, bound for China. Concentrate is priced on a formula linked to the lithium spot price.
6 Sept 2023drilling progress report▲ Good
BP33 box cut excavation has started, with the A$45-50M early works and updated feasibility study on track for a Q1 CY24 investment decision. Carlton infill drilling is finished, with results such as 25m @ 1.32% Li2O; the Carlton study update is due by end-2024.
28 Aug 2023capital raising announcement● Neutral
The share purchase plan opened, letting eligible shareholders buy up to A$30,000 of shares at A$0.40, targeting about A$20M and closing 15 September. ASX granted the waiver needed. SPP funds are for working capital.
24 Aug 2023production update▲ GoodMajor
A 10,000t concentrate parcel, the first into long-term offtake (to Ganfeng), is at Darwin ready for export, within contract specs. A first 15,000t fines parcel (1.2% Li2O) is also nearly at port, giving an outlet for material while recovery work continues.
17 Aug 2023capital raising announcement● NeutralMajor
The A$100M placement at A$0.40 completed, issuing 250 million new shares, backed by existing and new institutional investors. Funds go to BP33 early works, recovery improvements and exploration. The SPP (up to A$20M, A$0.40) follows, closing 15 September.
16 Aug 2023investor presentation● Neutral
Equity raising presentation supporting the A$100M placement and A$20M SPP at A$0.40 announced the same day. The visible text is only disclaimers and notices, with no additional information in the provided portion.
16 Aug 2023capital raising announcement● NeutralMajor
Core launched a fully underwritten A$100M placement at A$0.40 a share, plus a non-underwritten A$20M share purchase plan at the same price. Funds go to BP33 early works, plant optimisation, exploration and study work during ramp-up. Pro forma cash is about A$201-221M.
8 Aug 2023investor presentation● Neutral
CEO presentation at the Diggers and Dealers conference. The visible text is only disclaimers and cautionary notes, with no new information in the provided portion.
3 Aug 2023drilling progress report● Neutral
BP33 early works (A$45-50M box cut and surface works) and the detailed feasibility study have started, with contractor NAC on site. The investment decision remains due in Q1 CY24. This repeats the previously announced plan.
24 July 2023investor presentation● Neutral
June quarter results presentation by the CEO. The visible text is only disclaimers and cautionary notes, with no new information in the provided portion.
24 July 2023quarterly activities report▼ BadMajor
First production guidance: FY24 sales of 90,000-100,000t at C1 cost A$1,165-1,250/t, with output and costs worse than the 2021 feasibility study (recoveries about 49%). FY25 output is expected to be below FY24. Cash was A$152.7M with no debt.
24 July 2023other● Neutral
Administrative notice of an investor and analyst conference call on the June quarter results at 11:00am AEST on 24 July 2023. No new business information.
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.
26 Apr 2023quarterly activities report● Neutral
March quarter: cash A$97.8M before April Yahua prepayments, first revenue A$20.1M from the DSO cargo, and mining resumed at Grants. Production guidance is deferred to Q1 FY24 until mining rates are clearer. The 15,000t Yahua parcel is expected ready for export by end-July.