Past year: ▲ 0%(3.60c – 3.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Sept 2012debt financing● NeutralMajor
EER signed a 4-year secured facility of up to $5.5m with Idalia Coal, 50.1% owned by a Noble Group subsidiary. $2.5m is available immediately, then $1m a year for three years. Interest is bank bill rate plus 7.5%; security needs shareholder approval at the November AGM.
17 Sept 2012resource reserve update▲ GoodMajor
SRK's new JORC resource for Blackall is 1.74Bt: 627Mt Indicated and 1,113Mt Inferred, to 150m depth. That is about 1Bt above the 2011 figure of 749Mt, and resolves the long-delayed combined report. The 1.8-2.0Bt target is not yet fully covered.
5 June 2012regulatory community update▼ Bad
SRK's new resource report has missed the end-May 2012 timetable, and EER cannot get a completion date from SRK. EER also notes Queensland's 29 May approval of GVK's 495km Alpha-to-Abbot Point rail, for which it has lodged an access expression of interest.
1 May 2012investor presentation● Neutral
Broker presentation repeats the 749Mt resource (469Mt Indicated, 280Mt Inferred), the 1.8-2.0Bt target, Noble's ~30.5% stake and the pending MDL. It expects the SRK resource update in May 2012. Nothing new.
21 Mar 2012regulatory community update▲ Good
EER received a 12-month Queensland government permit to study using the disused Blackall-Jericho rail easement for a possible new coal line. It also lodged an expression of interest for access to Hancock/GVK's proposed 495km rail to Abbot Point. Study only; no rail access secured.
15 Mar 2012half year report● Neutral
Half-year to 31 December 2011: net loss $423,996 (prior-year half $276,539). Text repeats known Blackall drilling progress, with 14 of 22 SRK infill holes done and the MDL still pending. Cash is not shown in the readable text.
8 Mar 2012drilling result▲ Good
EER says its exploration drilling at Blackall finished in February 2012, with over 350 holes drilled. It keeps the 1.8-2.0Bt target; in-house modelling indicates a big rise over the 749Mt resource, with SRK's updated resource expected April/May 2012. A scoping study is planned.
1 Feb 2012other● Neutral
EER sent its first shareholder newsletter to all shareholders and posted it on its website. Administrative notice with no new information in the announcement itself.
31 Jan 2012quarterly activities report● NeutralMajor
December quarter: SRK's data review recommended 22 more infill holes, 14 of them drilled at Carlow. EER set a 2.0Bt in-situ coal target for the whole tenement. A single combined JORC report is now due in first half 2012, later than previously flagged.
28 Nov 2011investor presentation● Neutral
AGM presentation repeats the 469Mt Indicated and 280Mt Inferred resource, 166.4m shares, no options and 24c price. The company-wide JORC resource is now expected in Q1 2012, later than earlier Q4 2011 timing for Alambi.
24 Nov 2011director officer appointment● Neutral
Foundation non-executive director Malcolm Castle resigned immediately to focus on consulting and his Brazilian Metals Group role. The board falls to three directors plus an alternate; share price quoted at 20c.
31 Oct 2011annual report● Neutral
Annual financial report for 2011 re-released in a formatted version, repeating the $509,024 loss and the same board and auditor. Nothing new.
28 Sept 2011annual report● Neutral
Annual report for year to 30 June 2011: loss $509,024 (prior year $896,320). Text shows $7.45m raised from option exercises in the year and no dividend. Text truncated, so cash is not shown.
26 Sept 2011other● Neutral
EER comments on GVK's $1.26b purchase of a majority stake in Hancock Coal, whose Alpha project and rail plans sit near Blackall. EER says it will engage in Hancock's rail expedition-of-interest process. No direct deal for EER.
15 Sept 2011drilling progress report▲ Good
Alambi drilling has finished 12 RAB holes (1,562m) and 30 core holes, with a JORC Inferred resource for Alambi expected in Q4 2011. Only the lower half of the Alambi deposit has been explored so far.
8 Aug 2011regulatory community update● Neutral
EER lodged an expression of interest to become a Preferred Capacity Seeker in the Abbot Point Terminals 4-7 expansion. It follows the earlier up-to-20Mtpa port interest; only an application, with no capacity secured.
14 July 2011other● Neutral
EER was selected for a New York research firm's portfolio, which has started research coverage and investor outreach. Promotional only; no change to resources, funding or projects.
7 June 2011resource reserve update▲ GoodMajor
Full Xenith resource report released, showing 459Mt Indicated for southern Blackall (the April announcement said 469Mt; the text does not explain the difference). The Mineral Development Licence application has been lodged, with approval expected in 6 to 12 months.
17 May 2011investor presentation● Neutral
May presentation repeats the 469Mt Indicated and 280Mt Inferred resource and states cash of $4.7m, no options outstanding, 166.4m shares and price 40c. MDL application is underway. No new developments.
2 May 2011resource reserve update▲ GoodMajor
Maiden JORC Indicated resource of 469Mt at Blackall's Carlow deposit, within a total of 749Mt, covering about 15% of the tenement to 150m depth. This is a smaller, firmer figure than the earlier 1.2Bt Inferred; MDL application to follow.
20 Apr 2011investor presentation● Neutral
Broker presentation restating the 1.22Bt Inferred resource, Allambi drilling and rail and Abbott Point port plans. Lists Majicyl at 41.24% and Noble at 30.47%. Indicated resource still pending. Nothing new.
14 Apr 2011price query● Neutral
ASX queried a price jump from 57c to 69.5c. The company said it knew of no unannounced news, and noted it had recently appointed a marketing firm and been talking with brokers. Resource due by end April.
8 Apr 2011capital raising announcement▲ GoodMajor
Option exercise at 20c raised $7.569m through 37.8m new shares; Noble converted all 25m of its options. Shares on issue rise to 166.4m. Funds are for the Blackall mining licence application, scoping studies and northern exploration. Resolves the March option deadline.
8 Apr 2011price query● Neutral
ASX queried a price rise from 38c to 43.5c with higher volume. The company again said it knew of no unannounced information and pointed to the Indicated resource due by end April.
4 Apr 2011price query● Neutral
ASX queried a rise in the share price from 29c to 34c. The company said it knew of no unannounced news. It noted its 31 March options had expired with significant exercise money received, and the Indicated resource is expected by end April.
17 Mar 2011drilling progress report● Neutral
A final row of core holes along Blackall's western edge, recommended by Xenith, is about two weeks from done. The maiden Indicated resource release moves from Q1 to April 2011; the MDL application follows it.
14 Mar 2011half year report● Neutral
Half-year to 31 December 2010: net loss $276,539 versus $624,659 a year earlier. Southern drilling added 41 chip and 46 core holes; the updated resource is now expected mid April 2011. Text truncated, so cash is not shown.
9 Feb 2011drilling result▲ Good
Southern infill drilling at Blackall is complete and core samples are at the lab, so Xenith can finalise the Indicated resource. A consultant is engaged for the Mineral Development Licence application, to be lodged once the resource report arrives.
24 Jan 2011drilling progress report● Neutral
Southern Blackall drilling restarted on 12 January after a six-week flood suspension. Management aims to finish the next resource modelling stage by the end of the March quarter, though further wet-weather delays are possible.
31 Dec 2010other● Neutral
Company securities trading policy setting out insider trading rules and blackout periods for directors and staff. Administrative, no new information on operations.
