16 Sept 2020other● Neutral
ASX paused trading in EER securities pending a further announcement. No reason is given in this notice; the reason appears in the price query response that follows.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Mar 2020half year report● Neutral
Half-year to 31 December 2019 shows a net loss of $407,196, against $346,108 a year earlier. It confirms the A$500,000 Noble loan taken after period end. No change in activities.
30 Jan 2020quarterly activities report▲ GoodMajor
December 2019 quarter: MDL 464 renewed for five years to July 2024 and EPC 1398 for three years to June 2022, resolving both renewal threads. No field work. The A$500,000 Noble loan was signed after quarter end.
10 Jan 2020debt financing● NeutralMajor
EER signed a new A$500,000 loan with Noble Trading Co for working capital: 9.8% interest, repayable in three years, unsecured. This adds to the A$1.355m loan and continues reliance on its 93.42% owner.
27 Sept 2019annual report● Neutral
Year to 30 June 2019 loss of $1,905,589, down from $12,461,678 the year before. It confirms the A$1.355m Noble loan and the US$100,000 ex-gratia payment. EER holds 100% of Blackall; no change in activities.
27 Sept 2019other● Neutral
Appendix 4G corporate governance checklist for FY2019, pointing to annual report pages 14-19. Administrative compliance form with no new information for shareholders.
14 Mar 2019half year report● Neutral
Half-year to 31 December 2018 shows a net loss of $346,108, against $12,585,488 a year earlier. It confirms the A$1.355m Noble loan taken after period end. The much smaller loss follows the conversion of Noble's debt, though the text does not state the cause.
31 Jan 2019debt financing● NeutralMajor
EER signed an A$1.355m loan with Noble Trading Co: 9.8% interest, repayable in three years, unsecured. It repays the A$400,000 advance and keeps A$955,000 for working capital and Blackall. This continues EER's reliance on Noble, now its 93.42% owner.
21 Dec 2018other● Neutral
EER reports that its 93.42% shareholder Noble Group has completed its own restructuring under a new holding company. Noble says it has US$800m of committed trade and hedging facilities. No direct change to EER's assets or holdings is stated.
26 Nov 2018regulatory community update● Neutral
ASIC granted Noble's new holding entities relief from takeover rules tied to Noble Group's creditor restructure. Maylion's 93.42% holding in EER is unchanged. Regulatory housekeeping at the parent level; no direct change for EER.
28 Sept 2018annual report▼ Bad
Year to 30 June 2018 shows a loss of $12,461,678, against $2,699,746 the year before. The shown text does not give the cause. It confirms the Noble debt conversion and that Criterion Audit is now the auditor. Text truncated; no cash figures shown.
28 Sept 2018other● Neutral
Appendix 4G corporate governance checklist for FY2018, pointing to annual report pages 15-20. Administrative compliance form with no new information for shareholders.
31 July 2018quarterly activities report▼ BadMajor
June 2018 quarter: Noble's $27.02m debt converted at $0.0095 into 2,844,506,105 new shares, issued 22 June 2018 to Noble's subsidiary Maylion. Shares on issue rose from about 356m to 3.2bn, heavily diluting existing holders. EPC 1149 was renewed to April 2023. This resolves the conversion thread.
25 May 2018director officer appointment● NeutralMajor
Noble's Chris Thoroughgood joins the board and founding director Mark Basso-Brusa resigns after 11 years. Noble's Rex Littlewood becomes Managing Director and Chairman on $145,250 a year. Shareholders approved the debt conversion at the 23 May meeting, though Noble had not yet converted.
27 Apr 2018director officer appointment● Neutral
Andrea Betti appointed joint company secretary alongside Ranko Matic, effective immediately. Matic stays on. Administrative change; board is unchanged.
19 Mar 2018half year report▼ Bad
Half-year to 31 December 2017 shows a net loss of $12,585,488, against $1,351,506 a year earlier. The shown text gives no cause. AGM and the Noble conversion meeting will be combined; notice is still being prepared.
14 Dec 2017other● Neutral
ASX confirms trading in EER shares resumes on 15 December 2017, after the company's operations and financing update. Administrative notice.
14 Dec 2017other● Neutral
EER asks ASX to lift the suspension after lodging its annual and quarterly reports. It says cash is adequate for the coming period, with $1.05m still drawable from Noble's facility. Meeting to approve Noble's share issue is being prepared.
27 Nov 2017annual report● Neutral
Year to 30 June 2017 shows a loss of $2,699,746, against $50,521,741 the prior year. EER kept 100% of Blackall and the 3.44Bt resource, with no field work and minimal spend. Text truncated; no cash or debt figures shown.
27 Nov 2017other● Neutral
Appendix 4G corporate governance checklist for FY2017, pointing to annual report pages 14-19. Administrative compliance form with no new information for shareholders.
24 Nov 2017debt financing▼ BadMajor
Resolves the Noble dispute: Noble advanced $500,000 and the facility was restructured. Noble's debt-to-equity conversion rights are brought forward, with a shareholder meeting planned early 2018. After conversion, current officers resign and Noble appoints three. Likely dilution for shareholders (inference).
29 Sept 2017other▼ BadMajor
EER requested a voluntary trading suspension because it is in dispute with lender Noble over drawdown requests under the 2013 facility. Noble disputed the second request and has not paid the first. The company says failure to resolve this is critical to its solvency.
15 Mar 2017half year report● Neutral
Half-year to 31 December 2016 shows a net loss of $1,351,506, far below the $49,273,225 loss of the prior-year period. Aim remains to conserve capital by postponing exploration and cutting costs. No dividend. Alternate director Thoroughgood resigned 6 December 2016. Text truncated.
6 Dec 2016director officer appointment● Neutral
Chris Thoroughgood resigned as alternate director to Rex Littlewood (Noble's board nominee) from 5 December 2016. No replacement is mentioned in the text.
23 Sept 2016other● Neutral
Appendix 4G corporate governance checklist for FY2016, pointing to annual report pages 14-19. Administrative compliance form with no new information for shareholders.
23 Sept 2016annual report▼ Bad
Year to 30 June 2016 shows a loss of $50,521,741, against $2,349,485 the prior year. EER kept 100% of Blackall and the 3.44Bt resource. Expenditure is at an absolute minimum. Board unchanged. Text truncated, so the cause of the loss is not shown.
13 Sept 2016price query● Neutral
ASX queried a jump from 0.6c to an intraday 2.5c with heavy volume. EER replied it knows of no unannounced information and has no other explanation for the move. It says it complies with listing rules.
16 Mar 2016half year report▼ Bad
Half-year to 31 December 2015 shows a net loss of $49,273,225, against $1,044,678 a year earlier. The text shown gives no cause for the jump. Resource stays 3.44Bt, exploration postponed, overhead and staff costs being cut. No dividend.
29 Feb 2016admin correction● Neutral
Administrative notice: registered office and principal place of business move to Level 3, 216 St Georges Terrace, Perth from 29 February 2016, with a new postal address. No substance for shareholders.
30 Sept 2015annual report▼ Bad
Annual report for year to 30 June 2015 shows a loss of $2,349,485, against a $6,292 profit the prior year. It repeats the 3.44Bt resource and 100% Blackall ownership. Board unchanged. Text truncated.