5 July 2012security holder rights change● Neutral
6,940,000 unlisted employee options (exercise prices 27.5c to 60c) expired on 30 June 2012, as flagged earlier. Administrative, with no effect on cash.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 July 2012capital raising announcement● Neutral
Offer documents for the 2-for-9 entitlement issue have been dispatched. Offer closes 20 July with allotment on 27 July. Timetable reminder only, with no new information.
26 June 2012drilling result▲ Good
Assays extend Ongolo, MS7 and Ongolo South, including 24 m at 726 ppm and 3 m at 3,368 ppm U3O8. Drilling links mineralisation along a 4.5 km anomaly to Ongolo South. MS7 resource upgrade expected September, Ongolo later in the year.
22 June 2012capital raising announcement● Neutral
Notice letters sent to shareholders restating entitlement issue terms (2-for-9 at 4.2c, record date 29 June). Funds go to Omahola studies, TRS review and Shiyela work. Paladin sub-underwrites A$4m. No new information.
21 June 2012investor presentation● Neutral
Presentation repeating the strategy and A$10.5m entitlement issue already announced, with Omahola 50 Mlb target and a 2.2 Mlb a year PFS design. Shows market cap about A$51m at 4.5c and net cash about A$1.5m.
20 June 2012capital raising announcement● Neutral
Prospectus for the 2-for-9 entitlement issue of up to 250.83m shares at 4.2c, raising up to about A$10.53m; underwritten to A$5.8m. Offer closes 20 July 2012. Formal document for the raising announced on 19 June.
What it means for a shareholder
251m new shares at $0.042 to raise about $10.5m. 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.
19 June 2012capital raising announcement● NeutralMajor
Raising up to about A$10.5m via 2-for-9 non-renounceable entitlement issue at 4.2c, versus roughly 13c earlier in 2012. Patersons underwrites A$5.8m, with Paladin sub-underwriting A$4m. Cash was A$4.047m at March, so this funds the Omahola studies.
19 June 2012admin correction● Neutral
ASX notice that the trading suspension will be lifted once the company releases its capital raising announcement. Administrative only, no new information.
15 June 2012other● NeutralMajor
Strategy reset: drill rigs cut from seven to two and staff reduced, with spending down from 1 July. Shiyela iron, Australian exploration assets to be divested; Rio Tinto in talks on Nova EPLs. Omahola targets 50 Mlb resource, with upgrades and mining studies by year end.
15 June 2012material agreement▲ GoodMajor
Binding heads of agreement ends Raptor Partners' 2006 earn-out (1.5% of in-ground resource value) in return for 129.33m new shares at 11.52c plus A$100,000, totalling A$15.0m. Needs shareholder approval (chairman Greene linked to RPL) and staged escrow of shares for 12 to 36 months.
14 May 2012drilling result▲ GoodMajor
Chemical assays confirm and improve MS7 hole ALAR1222: 120 m at 499 ppm U3O8 (versus 443 ppm eU3O8 estimate), and a wider 158 m at 448 ppm from 105 m. Drilling will follow the zone north and north-east outside the current resource.
7 May 2012drilling result▲ Good
Follow-up assays name the 5 April discovery Ongolo South, with 10 m at 2,261 ppm, 16 m at 710 ppm and 18 m at 681 ppm U3O8, shallower than the first holes. MS7 infill also returned 5 m at 2,485 ppm U3O8.
1 May 2012drilling result▲ GoodMajor
MS7 hole ALAR1222 intersected 120 m at 443 ppm equivalent U3O8 from 110 m, by downhole gamma logging. Chemical confirmation is pending. It is described as one of several wide intercepts near a marble outlier.
24 Apr 2012material agreement▲ GoodMajor
Deep Yellow has opened talks with Raptor Partners to terminate the earn-out from the 2006 merger agreement: 1.5% of in-ground resource value on the four Namibian licences, payable after a feasibility study and decision to mine. A shareholder vote would be needed if a deal is reached.
19 Apr 2012other● Neutral
Link to a radio interview with the Managing Director about the recent Ongolo and MS7 drilling results. Carries no new information in the announcement itself.
11 Apr 2012other▲ GoodMajor
Deep Yellow is considering admission to London's AIM market to tap UK and European investor interest, appointing RFC Corporate Finance as Nominated Adviser and Ambrian Partners as broker. No raising size or timetable given; listing is only proposed.
11 Apr 2012director officer appointment▼ BadMajor
Dr Leon Pretorius, Namibia-based Managing Director of Reptile Uranium Namibia and with the company since June 2005, will leave full-time work, staying until 31 July 2012. A consulting role is under discussion and an external search for a replacement begins.
10 Apr 2012drilling result▲ Good
MS7 infill hole ALAR966 returned 58 m at 535 ppm U3O8 from 117 m, in an apparent offset of the footwall marble contact. Adds to earlier wide MS7 intercepts and should help lift resource classification.
5 Apr 2012drilling result▲ Good
Duplicate of the 5 April release: assays confirm a new discovery about 2 km south of Ongolo (6 m at 1,430 ppm, 9 m at 709 ppm U3O8), plus Ongolo infill results. No new information beyond ref 1.
5 Apr 2012drilling result▲ GoodMajor
Assays confirm a new discovery on a reconnaissance line about 2 km south of Ongolo, including 6 m at 1,430 ppm and 9 m at 709 ppm U3O8. Ongolo infill drilling also returned 18 m at 499 ppm. Adds a possible satellite deposit to Omahola.
20 Mar 2012investor presentation● Neutral
Mines and Money Hong Kong presentation repeating known resources (Omahola 37 Mlb, TRS 28.4 Mlb) and 2012 objectives, including a partner search for Shiyela funding. Shows net cash about A$5.6m. No new results.
19 Mar 2012regulatory community update▲ Good
Environmental clearance granted for the Shiyela iron project, so all three mining licence application areas (TRS, INCA, Shiyela) now have clearance. The mining licence itself is still under evaluation by the Ministry of Mines and Energy.
15 Mar 2012half year report● Neutral
Half-year report to 31 December 2011 recapping the period's resource upgrades at Ongolo, MS7 and Shiyela, mining licence applications, and TRS testwork. It also notes Australian work was kept to minimal levels to preserve cash for Namibia. Mostly repeats announced results.
28 Feb 2012investor presentation● Neutral
Paydirt uranium conference presentation focused on the TRS project, repeating the new 28.4 Mlb resource and existing Omahola and Shiyela figures. Sets 2012 aims including reaching over 50 Mlb at Omahola and raising funds for the Shiyela feasibility study. Net cash about A$6m.
28 Feb 2012resource reserve update▲ GoodMajor
Tubas Red Sand (TRS) resource rises almost six-fold from 4.9 to 28.4 Mlb (87 Mt at 148 ppm, Inferred, Geomine, based on historical Anglo American data). A 6-month pre-feasibility study for a standalone project of 15+ years life will follow.
28 Feb 2012regulatory community update▲ Good
Namibia's environment ministry granted environmental clearances for the INCA and TRS mining licence application areas, a precursor to a mining licence. The mining licence applications are still being evaluated by the Ministry of Mines and Energy.
23 Feb 2012drilling result▲ Good
The 2012 drill programme at Ongolo and MS7 is running with 7 rigs, with assays confirming high grades, such as 8 m at 1,041 ppm at Ongolo and 47 m at 418 ppm at MS7. Results are aimed at lifting resource size and confidence.
21 Feb 2012regulatory community update▲ Good
Nova Energy's three licences (EPLs 3668-3670) were renewed in full for two years to 20 November 2013, the second renewal. Nova is 65% DYL, 25% Toro, 10% Sixzone. This resolves the open licence renewal question.
17 Feb 2012material agreement▲ GoodMajor
RMB Namibia appointed to run a strategic review of the Shiyela iron project and to help find funding and investors for the bankable feasibility study. Options include a joint venture or offtake partner, or a development finance institution. Follows the January scoping study.
2 Feb 2012other● Neutral
Link to a radio interview with the Managing Director discussing the 27 January INCA grade upgrade (20% higher) and a general company update. Carries no new information in the announcement itself.