Past year: ▲ 0%(3.60c – 3.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
31 Jan 2019quarterly activities report● Neutral
December 2018 quarter: no field work; an MDL 464 five-year renewal was lodged after quarter end. The AGM passed all resolutions. The new A$1.355m Noble loan is confirmed. Shares $0.002 (market cap $6.4m).
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.
31 Oct 2018quarterly activities report● Neutral
September 2018 quarter: EPC 1399 renewed for five years to August 2023; no field work. Noble lent $400,000 for working capital with no set repayment, and Noble's stake is stated at 93.42%. EER is preparing to renew MDL 464, which expires August 2019.
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.
30 Apr 2018quarterly activities report● Neutral
March 2018 quarter: no field work, spending kept minimal, tenements in good standing at 100%. An application to renew EPC 1149 for five years was lodged, with a decision expected in the June quarter. The key goal is still the Noble debt-conversion meeting. Shares $0.003.
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.
31 Jan 2018quarterly activities report● Neutral
December 2017 quarter: EPC 1403 renewed three years; no field work. Shares back trading at $0.005 (market cap $1.782m). Next quarter's key objective is holding the general meeting to approve Noble's debt conversion into shares.
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.
13 Dec 2017quarterly activities report● Neutral
September 2017 quarter: EPC 1407 renewed for three years; no field work. Recaps the Noble suspension and the 24 November $500,000 advance, with conversion to equity and board handover to Noble's nominees still ahead. Shares last $0.01, suspended.
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.
31 July 2017quarterly activities report● Neutral
June 2017 quarter: no field work, costs minimal, tenements in good standing and 100% held. Written report on the drill-site inspection still awaited. Board monitors Galilee Basin projects and Adani's rail line. Nothing new for shareholders.
28 Apr 2017quarterly activities report● Neutral
March 2017 quarter: no field work, costs minimal, rents and reports up to date. Environmental officers inspected about 50 rehabilitated drill sites; verbal feedback was satisfactory. Board is encouraged by Adani's Carmichael progress. Strategic options still under review; no tenement changes.
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.
27 Jan 2017quarterly activities report● Neutral
December 2016 quarter: no field work, costs minimised, rents and reports up to date, no tenement changes. Board keeps watching Adani's Carmichael project and rail. Shares 0.7c, market cap $2.495m. Board now three directors.
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.
28 Oct 2016quarterly activities report● Neutral
September 2016 quarter: no exploration, rents and reports up to date, 58 sub-blocks of EPC 1407 relinquished. Board calls the recent rise in thermal coal prices encouraging. Shares 1.6c, market cap $5.704m, up from 0.4c in July.
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.
29 July 2016quarterly activities report● Neutral
June 2016 quarter: EPC 1398 renewed three years to June 2019. EPC 1399 and 1400 spending plans still under assessment. Spending held to an absolute minimum and Adani's Carmichael project is being monitored. Shares 0.4c, market cap $1.426m.
