10 Dec 2014other● Neutral
Appendix 3B: 6,616,883 shares issued to directors and the MD in lieu of fees, as shareholders approved, plus 1,250,000 from vesting performance rights, on 4 December 2014. Quoted shares become 1,899,361,295. Routine.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Nov 2014investor presentation● Neutral
AGM presentation: 1,891M shares, net cash about A$5.4m, market cap about A$26.5m at 1.4c. Repeats the heap leach Omahola strategy, Tubas Sand and cautious approach until uranium prices recover. No new information.
31 Oct 2014other● Neutral
Tenement schedule at September 2014: 3,109 km2 of Namibian licences, with Omahola (EPL 3496) at 100% and Nova EPLs at 65%. Napperby licence expires 10 October 2014. Administrative annexure, no new information.
31 Oct 2014quarterly activities report● Neutral
September quarter: cash about $5.3m after the $4.5m raising. Tubas Sand still has no offtaker, so spending will be cautious and no further U-pgrade work is planned. Omahola studies continue, modelling 2.5-3.5 Mlb a year over a 10-14 year mine life.
7 Oct 2014regulatory community update● Neutral
ASX granted a listing rule waiver so directors can keep taking reduced cash fees, with shares issued monthly in lieu for 12 months from 1 September 2014, subject to shareholder approval at the AGM. Continues the cash-preservation approach in place since March 2014.
7 Oct 2014annual report● Neutral
Second lodgement of the 2014 annual report, with the same content as the 26 September version (Omahola heap leach focus, Tubas Sand awaiting an offtaker, Shiyela delayed). Re-release, no new information.
26 Sept 2014annual report● Neutral
2014 annual report restates the year's story: Omahola 45.1 Mlb (JORC 2004) with heap leach preferred, Tubas Sand needs an offtaker, Shiyela sale delayed, Australian tenements dropped to Napperby. Strategy is to focus on Omahola. No new results.
17 Sept 2014other● Neutral
Appendix 3B for 2,796,100 shares issued at nil price on vesting of performance rights, issued 12 September 2014. Quoted shares become 1,891,196,227. Routine administrative issue.
8 Sept 2014investor presentation● Neutral
Managing Director's Africa Down Under presentation: 1,888M shares, net cash about A$5.5m, market cap about A$39.3m at 2.3c. Paladin holds 16.9%. Says uranium recovery is likely 2016-2020, so projects will progress cautiously. Repeats known facts.
29 Aug 2014other● Neutral
Paladin's Form 604 reports its percentage holding in Deep Yellow has fallen after the 27 August placement. Its share count is unchanged; the drop reflects the larger share base. Administrative notice, no new information.
28 Aug 2014other● Neutral
Section 708A notice for the placement of 179,434,237 shares at 1.7c, allotted on 27 August 2014. Allows the shares to be traded freely. Administrative, no new information.
25 Aug 2014capital raising announcement▲ GoodMajor
Firm commitments for a placement of about 179.4m shares at 1.7c, around $3m. It covers the 113.1m entitlement shortfall ($1.9m) plus 66.3m shares ($1.1m) under the 15% capacity. Cash would exceed $5m, which the chairman says removes the need to return to market in the foreseeable future.
What it means for a shareholder
179m new shares at $0.017 to raise about $3.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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20 Aug 2014remuneration report● Neutral
Board approves 22,050,000 performance rights for executives and employees, including 10,000,000 for MD Greg Cochran subject to shareholder approval. Vesting is over three years on time and share price hurdles of 3c, 5c and 7c.
31 July 2014quarterly activities report● Neutral
June quarter: cash about $1.2m, rising to about $2.7m after the entitlement issue. Restates the Omahola heap leach analysis. Marenica U-pgrade results on Tubas Sand were encouraging but not conclusive. Shiyela sale delayed by the preferred bidder and may not close soon. Fee and salary cuts continue.
31 July 2014quarterly activities report● Neutral
Appendix 5B for June quarter: cash fell to $1.236m from $2.039m, with operating outflow of $779k. Planned outflows next quarter are $600k. No debt. Director and MD cash pay cut by about $20,000, with shares to be issued in lieu subject to approval.
25 July 2014capital raising announcement● Neutral
89,013,543 shares at 1.7c ($1,513,230) were allotted from the entitlement issue, taking shares on issue to 1,708,965,890. The 113.1m shortfall shares are still to be placed. Paladin remains top holder at 18.67%.
What it means for a shareholder
89.0m new shares at $0.017 to raise about $1.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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23 July 2014capital raising announcement● NeutralMajor
The entitlement issue closed with applications for 89,013,543 shares at 1.7c, raising $1,513,230, about 44% of entitlements. The remaining 113,118,169 shortfall shares are still to be placed by directors. This is well under the $3.4m maximum.
What it means for a shareholder
89.0m new shares at $0.017 to raise about $1.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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3 July 2014capital raising announcement● Neutral
The entitlement issue closing date is extended two weeks to 18 July after shareholder requests. New shares are now due on 25 July. Price remains 1.7c and the target is about $3.4m.
2 July 2014other● Neutral
Appendix 3B for 2,910,980 shares issued at nil price on vesting of performance rights under the Awards Plan. Total quoted shares become 1,619,952,347. Routine administrative issue.
16 June 2014capital raising announcement● Neutral
Offer booklet for the 1-for-8 entitlement issue at 1.7c was dispatched to shareholders on 16 June, for up to $3,436,212. The offer closes 4 July. Administrative; terms unchanged.
10 June 2014capital raising announcement● Neutral
Notice letter to shareholders on the entitlement issue, sent 6 June, restating the terms: up to 202,130,171 shares at 1.7c, maximum $3,436,212. Offer closes 4 July. No new information.
What it means for a shareholder
202m new shares at $0.017 to raise about $3.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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5 June 2014capital raising announcement● Neutral
The entitlement issue price is revised to 1.7c from 1.65c to comply with ASX pricing rules, lifting the maximum raise to about $3.4m. Ratio and timetable are unchanged. Discount to 30-day VWAP is now 27.9%.
4 June 2014resource reserve update▲ GoodMajor
An in-house analysis concludes Omahola is better suited to heap leach than tank leach. The 45.1 Mlb resource (250 ppm cut-off) will be re-evaluated at a lower cut-off, likely 100 ppm, and deeper MS7 drilling is justified. This confirms the heap leach direction flagged in earlier quarterlies.
4 June 2014capital raising announcement● NeutralMajor
Deep Yellow offers a 1-for-8 non-renounceable entitlement issue at 1.65c to raise up to about $3.3m, a 29.8% discount to the 30-day VWAP. Funds are mainly for Tubas Sand drilling and a pre-feasibility study by end of 2014. Major shareholders have indicated support.
8 May 2014other▲ GoodMajor
A scoping study by DRA prefers producing a sand concentrate from Tubas Sand for sale to an existing Namibian producer, at under US$25/lb U3O8 before transport. Pre-feasibility and feasibility study could finish by mid-2015, funding and market permitting. The MD called current uranium prices unattractive.
30 Apr 2014quarterly activities report● Neutral
Appendix 5B for the March quarter: cash fell to A$2.039m from A$2.673m. Planned outflows next quarter are A$700k. The board is deferring 10-20% of director fees, to be paid in shares, to preserve cash.
30 Apr 2014quarterly activities report▼ Bad
March quarter: cash about A$2.0m. Shiyela's preferred bidder asked for a delay over unrelated commercial issues. Omahola now likely heap leach, needing a resource review and JORC 2012 update. Tubas Sand drilling depends on capital availability.
24 Mar 2014resource reserve update● NeutralMajor
Tubas Sand resource restated to JORC 2012 at 34 Mt at 170 ppm for 12.7 Mlb, down from 28.4 Mlb Inferred. It covers the best third of the area at a higher 100 ppm cut-off, with 32% now Indicated. Further drilling could add to it.
11 Mar 2014half year report● Neutral
Half-year report to 31 December 2013 restates the period's activity: licence renewals, the 15 alaskite targets, Omahola pit optimisations and the start of the Tubas Sand study. Omahola resource unchanged at 45.1 Mlb. Australian assets still being divested.
7 Mar 2014other● Neutral
S&P Dow Jones index rebalance notice for the ASX indices. The excerpt shown does not mention Deep Yellow; no company-specific information.