30 Sept 2022investor presentation● Neutral
Equity raising presentation supporting the A$100M placement announced the same day. Visible text is only disclaimers and competent person statements, with no new information in the provided portion.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Sept 2022capital raising announcement● NeutralMajor
Core launched a fully underwritten A$100M placement of about 97.1M shares at A$1.03, a 6.8% discount to the last close. Funds go to faster exploration (A$25M budgeted for 2023), early works at BP33, the night shift and working capital. Dilutes existing holders.
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.
29 Sept 2022admin correction● Neutral
Core re-released its 27 September business update, identical except for added technical disclosures on the visual (non-assay) results. The new text includes a cautionary note that visual observations are not a substitute for lab assays. No new results.
29 Sept 2022security holder rights change● Neutral
Ganfeng sold part of its Core shares and is no longer a substantial (>5%) holder, citing portfolio weighting and monetising some of its investment. It keeps its shares and binding offtake. The text does not give the amount sold or the remaining stake.
27 Sept 2022agm notice● Neutral
Core lodged its corporate governance statement and Appendix 4G, and said its AGM will be held on 24 November 2022. Director nominations close 12 October 2022. Administrative only, with no operational or financial information.
27 Sept 2022annual report● Neutral
The 2022 Annual Report restates the year's progress: the July 2021 feasibility study, construction under way, a 12-year mine life and a 10.6Mt reserve. First production is still targeted by end of 2022. Financial figures are not visible in the provided text.
27 Sept 2022drilling result▲ GoodMajor
First spodumene ore was uncovered at the Grants pit on 15 September 2022, and first DSO shipment preparations are under way for before year-end. BP33 diamond holes hit 22.85m @ 1.59% Li2O, with intersections to 830m depth and over 400m outside the current resource, so a resource increase is expected.
29 Aug 2022material agreement● Neutral
Core and Tesla agreed to extend the termination date of their binding offtake term sheet to 26 October 2022, to finish negotiating the full agreement. This pushes back the earlier 27 August 2022 target for a definitive agreement; the deal for up to 110,000t of concentrate remains unsigned.
15 Aug 2022drilling progress report▲ Good
A 40,000m+ RC drilling program has started at Finniss alongside diamond drilling at BP33. Two NT grants of $100,000 each fund a Shoobridge survey and a deep Sandras hole. Rock chips at Anningie-Barrow Creek assayed up to 4.78% Li2O; Finniss gold work is also recapped.
5 Aug 2022director officer appointment▲ GoodMajor
Core appointed Gareth Manderson, a Rio Tinto veteran of 22 years, as CEO from 8 August 2022, succeeding Stephen Biggins, who resigned in March. This resolves the CEO search; Biggins stays as a director during the handover. Total fixed pay is $718,250.
4 Aug 2022admin correction● Neutral
Core re-lodged its Diggers & Dealers presentation to correct transposition errors on the last slide, Mineral Resources and Ore Reserves. Otherwise identical to the 1 August version; no new information.
1 Aug 2022investor presentation● Neutral
CFO presentation at the Diggers & Dealers conference restating known facts: 12-year mine life after the July upgrade, first direct-shipping ore shipment in Q4 2022, and commercial production in H1 2023. No new information evident in the provided text.
1 Aug 2022drilling result▲ Good
Deep BP33 drilling returned 66.88m @ 1.78% Li2O (downhole; true thickness about two-thirds), including 16m @ 2.27%. Core expects these hits outside the current resource to expand it. A trial ambient noise survey also imaged pegmatite to 500m depth. Final BP33 mining approval expected in coming weeks.
27 July 2022quarterly activities report● Neutral
June quarter report recaps construction progress, the BP33 environmental approval, the ASX 200 entry and the final 2021 assays. It notes COVID absenteeism, supply chain disruption and inflation caused some delays to mining and construction, but first export is still targeted for end-2022. Shares on issue were 1,733,215,716. Cash figure not visible.
12 July 2022resource reserve update▲ GoodMajor
Finniss resource rose 28% to 18.9Mt @ 1.32% Li2O, and Ore Reserve rose 43% to 10.6Mt @ 1.3%, extending mine life from 8 to 12 years. This delivers the upgrade flagged since March, including Ah Hoy's maiden resource (0.8Mt @ 1.20%). First DSO shipment is targeted by end-2022.
21 June 2022production update● Neutral
Construction continues: Primero handover complete, CSI on site, and the BP33 Mining Management Plan lodged, with formal approval now expected in the September 2022 quarter (earlier guidance was mid-2022). Wet-season rain and Shanghai steel delays hit progress. First concentrate shipment by end-2022 is conditional on no further delays; a resource and reserve upgrade is due in weeks.
3 June 2022other▲ Good
S&P Dow Jones Indices will add Core Lithium to the S&P/ASX 200 from 20 June 2022, a step up from its ASX 300 entry in March. It is an index notice, not a company update, and brings no operational change.
17 May 2022production update▲ Good
Construction update: five new trucks arrived at Grants Stage 1 pit, with another excavator due end of May. DMS plant earthworks near complete, handover to Primero due that week. CSI crushing mobilises next month; BP33 Mining Management Plan to be lodged in coming weeks.
10 May 2022drilling result▲ Good
Final 2021 assays confirm mineralised pegmatite south of BP33 (35m @ 0.84% Li2O) and extensions at Hang Gong and Lees, plus a new Penfolds hit of 11m @ 1.55% Li2O. Core expects resource extensions; resource drilling has restarted at BP33. This closes the 2021 assay backlog.
3 May 2022regulatory community update▲ GoodMajor
The NT Environment Minister granted environmental approval for the BP33 underground mine, the second mine approved at Finniss. Core will now lodge a Mining Management Plan; it anticipates mining authorisation by mid-2022, the last approval step. This resolves the BP33 approval thread.
2 May 2022contract award▲ Good
Core signed a binding crushing services contract with CSI Mining Services for Finniss. CSI is expected to start mobilising to site in June 2022, with crusher civil works nearly complete. This fills a piece of the processing chain ahead of first concentrate. Contract value is not stated.
27 Apr 2022quarterly activities report● Neutral
March quarter report recaps the Tesla term sheet, construction on schedule, the six-lease acquisition, BP33 and Carlton drilling, Biggins' resignation and ASX300 entry. Shares on issue were 1,716,781,927. It adds little new; the cash balance is not visible in the text provided.
11 Apr 2022asset acquisition disposition▲ GoodMajor
Core signed a binding agreement to buy the Shoobridge tenement (EL31407) from Newmont, about 80km SSE of Finniss. It has historic tin-tantalum pegmatites untested for lithium. Completion needs NT Ministerial consent; the price is not visible in the provided text.
4 Apr 2022other▲ Good
Core says Finniss development is on schedule: access roads, water pipelines and a 7km process water pipeline are done, and the DMS plant pad is due in April, with plant construction to follow immediately. First production is still expected before end of 2022.
31 Mar 2022drilling result▲ Good
First drilling at the new Bilatos prospect found lithium, including 24m @ 2.24% Li2O and 30m @ 1.11% Li2O. Core's initial interpretation is a single pegmatite over 800m long, still open. Seventeen other regional holes (Saffums, Annie, Sabine) had no significant lithium.
25 Mar 2022director officer appointment▼ BadMajor
Foundation Managing Director Stephen Biggins has resigned for personal reasons and will step down before the end of 2022, after nearly 12 years. The board has hired Korn Ferry to search for a new CEO, a leadership change during construction.
10 Mar 2022half year report● Neutral
Half-year report to 31 December 2021 recaps the period: DFS, funding, FID, Lucas and Primero contracts, Ganfeng offtake and construction start. Core says Finniss is fully funded and permitted, with first concentrate on track for Q4 2022. Financial figures are not visible in the text provided.
9 Mar 2022drilling result▲ Good
Carlton diamond drilling hit high-grade lithium, including 40.3m @ 1.53% Li2O and 30m @ 1.78% Li2O; 8 of 9 holes hit pegmatite. Core expects Carlton's resource (currently 3.02Mt @ 1.28%) to grow, with a Finniss resource update due Q2 2022. Plant EPC contractor Primero gained site access 1 March.
4 Mar 2022other▲ Good
S&P Dow Jones Indices announced Core Lithium will be added to the S&P/ASX 300 (from 22 March 2022) and the All Ordinaries (from 21 March 2022) in its quarterly rebalance. It is an index notice, not a company update, and brings no operational change.
2 Mar 2022material agreement▲ GoodMajor
Core signed a legally binding term sheet to supply Tesla up to 110,000 tonnes of spodumene concentrate over 4 years, with a price floor and ceiling. A definitive agreement is required by 27 August 2022, and Tesla would also support downstream processing plans.