Each one in plain English, with the numbers worked through for a shareholder.
20 July 2017quarterly activities report▲ Good
June quarter report recaps the completed 400-hole Tumas 3 program (4.4km, 71% success), the A$15.1M raising and the dual growth strategy. Maiden resource still expected in September. Largely repeats known results.
11 July 2017drilling result▲ GoodMajor
Tumas 3 drilling finished: 400 holes for 10,545m, with 284 positive (71%). Mineralisation now spans 4.4km, still open west and east. Maiden inferred resource expected late September quarter, as previously flagged. Geophysical tests continue, results due December quarter.
22 June 2017other● Neutral
Perth office moved to Unit 17, Level 2, same Spectrum Building address in Subiaco. Phone and postal details unchanged. Administrative notice only.
22 June 2017drilling result▲ Good
Tumas 3 uranium discovery extended from 1.9km to over 3.2km, still open west and east. 227 of 246 assayed holes positive; best 12m at 704ppm eU3O8. A second rig was added and the target extended to 4.5km. Maiden resource still due in September quarter.
20 June 2017other● Neutral
Revised and new substantial holder notices filed for Exploration Capital Partners (Sprott-linked) after the A$15.1M raising. The earlier October 2016 notice was corrected (pre-consolidation holding), and a change notice reflects its participation in the offer and shortfall. Disclosure paperwork; no new figures stated.
16 June 2017capital raising announcement▲ GoodMajor
The remaining 32.1M shortfall shares were issued, completing the A$15.1M raising at A$0.25. Shares on issue now 190.0M, with 62.5M listed A$0.50 options. Funds go to Namibian drilling and possible acquisitions.
6 June 2017capital raising announcement● Neutral
19.5M shares and options from shareholder take-up were allotted, taking shares on issue to 149.1M. Sprott and CPS shortfall placements are still to come. Administrative step in the raising.
6 June 2017capital raising announcement● Neutral
A first part of the shortfall, 8.87M shares at A$0.25 placed via CPS, was issued, lifting shares on issue to 158.0M. Options issued total 10.87M, including 2M to CPS as part of its fees. Sprott balance still to settle.
What it means for a shareholder
8.9m new shares at A$0.250 to raise about A$2.2m. 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.
2 June 2017price query● Neutral
ASX queried a share price rise from A$0.24 to A$0.30 with heavy volume on 2 June. DYL said it knew of no undisclosed information, pointing to the offer result and the 22 May Tumas 3 discovery. Resolved with no further action.
2 June 2017capital raising announcement▲ GoodMajor
Entitlement offer closed with shareholders taking up about A$4.9M (19.5M shares). The A$10.2M shortfall looks covered: Sprott clients will subscribe A$8.0M and CPS has applications for A$2.2M. Raising looks on track to complete.
22 May 2017drilling result▲ GoodMajor
Tumas 3 uranium discovery extended to 1.9km, up from 1.2km, with 128 of 144 holes mineralised. Best intercept 12m at 1,239ppm eU3O8. Open to the west and east; drilling about 40% complete, maiden resource still expected in September quarter. Confirms the April result with first grades.
16 May 2017capital raising announcement● Neutral
Prospectus and acceptance forms posted to eligible shareholders, opening the A$15.1M entitlement offer. Timetable unchanged: closes 30 May, allotment 6 June. Administrative step.
15 May 2017investor presentation● Neutral
Updated investor presentation adds the recent Tumas 3 drilling results and repeats the strategy: a Rossing or Langer Heinrich style discovery, contrarian acquisitions, the JOGMEC deal and the A$15M rights issue. Largely repeats known facts.
12 May 2017admin correction● Neutral
Supplementary prospectus clarifies the link between Sprott, its affiliate Explo and DYL, and lists substantial holders. Explo and Sprott's interest is 12.41%; Collines holds 10.36%, BXV Lavrio 6.29%. Disclosure clarification only; no change to offer terms.
9 May 2017capital raising announcement● Neutral
Notice letter sent to shareholders on the A$15.1M entitlement offer. Repeats the terms and timetable: record date 11 May, offer closes 30 May, allotment 6 June. Funds are for Namibian drilling, possible acquisitions and working capital. Administrative.
5 May 2017capital raising announcement● NeutralMajor
DYL plans a non-renounceable entitlement offer of up to A$15.1M at A$0.25 a share, 7 new for every 15 held, with a free A$0.50 option expiring 1 June 2022. Sprott will take up its 12.41% entitlement and seek to place the first A$7.5M of any shortfall.
5 May 2017capital raising announcement● Neutral
Prospectus lodged for the A$15.1M entitlement offer at A$0.25 per share, with free A$0.50 options. Offer is not underwritten and closes 30 May 2017. Formal document for the raising announced the same day; no new terms.
4 May 2017material agreement● Neutral
DYL signed a Strategic Alliance Deed with a Sprott affiliate. While Sprott holds at least 10% of DYL, it keeps the right to bid to place or find subscribers for future capital raisings. Formalises the relationship begun with the October 2016 placement.
28 Apr 2017quarterly activities report● Neutral
March quarter cash report: cash fell to A$1.418M from A$2.385M, with A$982k operating outflow. A$233k came in as a JOGMEC contribution to past Nova spending. Next-quarter outflows are estimated at A$800k, mostly discretionary and dependent on funds being available.
27 Apr 2017quarterly activities report▲ Good
March quarter report restates the Tumas 3 drilling results (60 of 72 holes mineralised), the JOGMEC earn-in and the completed consolidation. Drilling may be extended west if mineralisation persists, postponing other targets. Grades due late June quarter; maiden resource in September quarter.
27 Apr 2017admin correction● Neutral
The April investor presentation was re-released with proper JORC 2012 caveats and extra information on exploration targets (slides 14, 16, 17, 18). Compliance fix; no new results.
19 Apr 2017drilling result▲ GoodMajor
Drilling at the new Tumas 3 zone found calcrete uranium mineralisation in 60 of the first 72 holes, along a 1.2km continuous channel still open in several directions. Grades are due by end June quarter, with a maiden resource expected in the September quarter. Grade not yet known.
7 Apr 2017investor presentation● Neutral
Investor presentation following the JOGMEC deal restates the new strategy: target a Rössing or Langer Heinrich style discovery and pursue contrarian acquisitions. Consolidation is described as complete. Largely repeats known direction; it was later revised for exploration target caveats.
29 Mar 2017farm in farm out agreement▲ GoodMajor
Japan's government agency JOGMEC can earn 39.5% of the Nova JV by spending A$4.5M over four years. After earn-in, DYL (as manager) would hold 39.5%, Toro 15%, Sixzone 6%. Other partners are free-carried until then; a drilling program is planned later in the year.
13 Mar 2017half year report● Neutral
Half-year report to 31 December 2016 confirms shareholders passed the 1-for-20 consolidation on 28 February 2017. It says active engagement with Marenica on the U-pgrade technology has ceased indefinitely under the new strategic plan, ending that Tumas thread. Tumas resource shown as 13.3Mlb.
3 Feb 2017regulatory community update▲ GoodMajor
Namibia approved renewal of Nova JV EPL3669 and EPL3670 for two years to 20 November 2017, resolving the renewal that was awaited since August 2015. DYL holds 65% and manages. DYL expects further extension with ongoing spending.
3 Feb 2017listing compliance notice● Neutral
ASX queried a late director interest notice for Christophe Urtel, lodged 30 January against a 19 January deadline, after he learned of an in-specie share distribution only on 23 January. Company says its compliance arrangements are adequate. Minor compliance matter.
27 Jan 2017quarterly activities report● Neutral
December quarter cash report: cash rose to A$2.385M after the A$1.415M Sprott placement, with A$986k operating outflow including termination costs for the outgoing MD. Napperby EL24246 was relinquished (100% to 0%). Next quarter outflows estimated at A$1.08M.
25 Jan 2017security holder rights change● Neutral
Timetable for the 1-for-20 consolidation: shareholder meeting 28 February 2017, new shares trade from 2 March. Shares fall from about 2,591.6M to about 129.6M; performance rights from 14.185M to about 709,250. Subject to shareholder approval.
19 Jan 2017quarterly activities report● Neutral
December quarter: strategic review done and 1:20 consolidation planned, with meeting expected late February. Re-evaluation of Tumas drill data found quality good, with resource drilling targeted for March 2017. Nova EPL 3669/3670 renewals still awaited.
