Each one in plain English, with the numbers worked through for a shareholder.
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.
30 Jan 2012investor presentation● Neutral
Bell Potter presentation in Adelaide repeating known material: Omahola hard rock 38.2 Mt at 441 ppm for 37 Mlb, Shiyela scoping study (capex US$467m), and a target of Namibian production in 2015. Shows net cash about A$7.5m at 14c.
27 Jan 2012resource reserve update▲ Good
INCA re-estimated by Coffey to 12.4 Mt at 490 ppm for 13.4 Mlb, a 20% grade increase with total contained metal unchanged at 13.4 Mlb. Omahola's hard rock resource is now 38.2 Mt at 441 ppm for 37.0 Mlb, up from 413 ppm.
25 Jan 2012investor presentation● NeutralMajor
ProMet scoping study for Shiyela (2 Mtpa concentrate) gives base-case capex of US$467m and operating cost of US$77.40/t FOB, using a blended magnetite-hematite product at 68% Fe. Feasibility work and more drilling are subject to funding. Mining licence is still pending.
23 Jan 2012quarterly activities report● Neutral
December quarter report recaps the quarter: EIAs and mining licence applications for INCA, Tubas Red Sand and Shiyela, the Ongolo and MS7 resource upgrades, and the Shiyela maiden resource. The Shiyela scoping study was nearing completion. Mostly repeats announced results.
23 Jan 2012quarterly activities report▼ Bad
Cash fell to A$7.18m at 31 December from A$11.32m, after A$5.34m of operating and investing outflow, with no debt. Planned outflow next quarter is A$4.0m (A$3.0m exploration, A$1.0m administration).
15 Dec 2011security holder rights change● Neutral
Board approved 2,664,400 nil-cost performance share rights for employees and contractors under the existing Awards Plan. They vest in stages from July 2012 to July 2014, with 30% needing the share price to rise 85%. Routine incentive issue.
13 Dec 2011resource reserve update▲ GoodMajor
MS7 resource more than doubled to 5.4 Mt at 470 ppm for 5.6 Mlb, up 3.3 Mlb on October's maiden estimate; almost 60% is Indicated. Omahola hard rock resource now 37 Mlb and Namibian resources exceed 110 Mlb. Pit optimisation on Ongolo and MS7 is to follow.
12 Dec 2011regulatory community update▲ Good
Mining licence application lodged for Shiyela Iron through a 95%-owned subsidiary, with Oponona holding 5%. It is the third such application in a month, after INCA and Tubas Red Sand, and is described as the first iron ore application made in Namibia, as far as DYL knows.
6 Dec 2011resource reserve update▲ GoodMajor
Shiyela Iron gets a maiden Inferred resource (Golder) of 78.7 Mt at 18.88% Fe, with 16.17% magnetite recovery by Davis Tube. Further drilling is planned in 2012 subject to funding. The scoping study is due later this month.
1 Dec 2011resource reserve update● Neutral
Resource table reformatted with no change to underlying figures: Omahola now reported as hard rock only (38.1 Mt, 404 ppm, 33.7 Mlb), with Tubas Red Sand shown separately at 4.9 Mlb. The MS7 upgrade, due end November, is delayed to 9 December.
23 Nov 2011drilling result▲ Good
MS7 drilling returned some of the highest grades yet in the alaskite programme: 33 m at 2,207 ppm and 69 m at 1,229 ppm, plus 3 m at 5,531 ppm from 172 m. The deposit extends north and west and is open below 200 m. A resource upgrade is under way.
17 Nov 2011agm notice● Neutral
All three AGM resolutions passed: re-election of Kavanagh and Brunovs, and the remuneration report. The remuneration report drew 366.7m for votes and 102.6m against.
17 Nov 2011other▲ Good
Davis Tube testwork on Shiyela drill samples shows concentrate of around 70% Fe with silica below 1%, suitable for blast furnace use. Maiden resources are due shortly and the scoping study is on schedule. Confirms earlier quality indications.
17 Nov 2011investor presentation● Neutral
AGM presentation largely repeating known project and resource information. Shows 1,128.51m shares, market cap ~A$186m at 16.5c and net cash ~A$10.0m. Namibian production still targeted for 2014/5.
16 Nov 2011drilling result▲ Good
More MS7 assays, including 21 m at 1,245 ppm and 25 m at 405 ppm. Coffey will upgrade the MS7 resource using data to 19 November, following the 2.3 Mlb maiden Inferred estimate; upgrade expected by end November.
9 Nov 2011regulatory community update▲ GoodMajor
Mining licence applications lodged for INCA and Tubas Red Sand, via two 95%-owned subsidiaries (Oponona holds 5%). Aim is to accelerate a standalone Tubas project making loaded resin for sale to an existing Namibian producer, as an interim step before Omahola.
7 Nov 2011resource reserve update▲ GoodMajor
Ongolo resource more than tripled to 20.5 Mt at 400 ppm for 18 Mlb U3O8 (250 ppm cut-off), up 11.8 Mlb from May's 6.2 Mlb; 13.2 Mlb is Indicated. Omahola rises to 38.6 Mlb and Namibia to over 107 Mlb. MS7 upgrade is expected by year end.
7 Nov 2011investor presentation● Neutral
20:20 conference presentation restating known facts: Namibian production targeted by 2014/5, 107.4 Mlb Namibian resources, and Omahola at 38.6 Mlb. Shares 1,128.51m, market cap ~A$147m at 13c, net cash ~A$11.0m. No new information.
1 Nov 2011regulatory community update▲ Good
Environmental impact assessment for Shiyela Iron submitted in Namibia, covering a 2 Mtpa magnetite mine expandable to 7.5 Mtpa. It is a precursor to a mining licence application. Public comments are open until 28 November 2011.
1 Nov 2011regulatory community update▲ Good
Environmental impact assessments submitted for INCA (open pit, up to 2.5 Mtpa ore, up to 2.5 Mlbpa U3O8) and Tubas Red Sand. They are a precursor to mining licence applications. Comments are open until 28 November 2011.
27 Oct 2011drilling result▲ Good
More high-grade assays at Ongolo (12 m at 572 ppm, 3 m at 1,099 ppm) and MS7 (9 m at 624 ppm). Drilling continues toward joining the two deposits. An Ongolo resource upgrade is due by end November, earlier than the end-2011 guidance.
26 Oct 2011quarterly activities report● Neutral
Appendix 5B: cash at 30 September was A$11.319m, down from A$13.053m, with no debt. Net operating and investing outflow was A$635k. Planned outflow next quarter is A$4.45m (A$3.35m exploration, A$1.1m administration).
26 Oct 2011quarterly activities report● Neutral
September quarter report: cash fell to A$11.32m from A$13.05m, with A$4.45m outflow planned next quarter. Three Namibian licences were renewed to June 2013, and MS7 maiden resource (2.3 Mlb) and Shiyela testwork were recapped. Mostly repeats known results.
19 Oct 2011other▲ Good
Interim Shiyela testwork shows a 69% Fe magnetite concentrate with ~1.5% silica, at 18-32% weight recovery. ProMet's scoping study (2 Mtpa, capex ~US$100 per annual tonne) is due mid-December, and maiden resources by end November. This follows the earlier delay awaiting testwork.
17 Oct 2011annual report● Neutral
Printed version of the 2011 annual report, already released electronically on 7 September. No new information.
13 Oct 2011resource reserve update▲ GoodMajor
Maiden MS7 Inferred resource of 2.7 Mt at 400 ppm for 2.3 Mlb U3O8 (300 ppm cut-off), from Coffey. Omahola rises to 26.8 Mlb and Namibia to over 95 Mlb. Ongolo and MS7 upgrades are expected by year end.
27 Sept 2011drilling result▲ Good
New Ongolo and MS7 assays, including 30 m at 727 ppm at Ongolo. MS7 zone is now 600 m long and 300 m wide. DYL is delaying the Ongolo resource update to finish Phase 2 drilling and first estimate a maiden MS7 resource, due by end September.
