Past year: ▼ 35%(20.5c – 47.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
23 Nov 2017other▲ Good
Marenica says it has been granted three Australian patents (two also certified as innovation patents) covering U-pgrade. It already holds a US patent. Gives the company exclusive rights to use or license the technology it hopes to commercialise.
23 Nov 2017director officer appointment● Neutral
Lou Guo Qing (Hanlong's board representative) and David Sanders retired as directors at the November 2017 AGM. The company thanked them; no reason or replacements are given.
26 Oct 2017annual report● Neutral
Re-release of the 2017 annual report, repeating the 27 September statutory accounts content including the chairman and CEO commentary, with additional ASX information. No new information is visible in the text provided.
26 Oct 2017quarterly activities report● Neutral
September quarter report: Langer Heinrich U-pgrade testwork is still in progress and Marenica says it is actively engaged with Paladin on cutting costs at the mine. Talks continue with other resource owners. Exploration spending was $39,170; no tenement changes.
26 Oct 2017admin correction● Neutral
Appendix 4G corporate governance checklist, a standard template with no new information. The visible text is a blank recommendation key; the diversity policy is referenced on the company website. No financial or operational substance.
27 Sept 2017annual report● Neutral
Annual report to 30 June 2017 says the Deep Yellow licence remains in place, but Deep Yellow chose to expand its resource rather than complete a feasibility study at current low prices. Langer Heinrich testwork was ongoing. John Sestan is now listed as a non-executive director. Financial figures not in the text provided.
29 Aug 2017other● Neutral
Langer Heinrich ore samples have reached Perth and U-pgrade testwork starts immediately, with completion expected early in the December quarter 2017. Paladin is in administration, so final ownership of the mine may be unclear for some time.
3 Aug 2017capital raising announcement● NeutralMajor
Shortfall placement of 1,401,236 shares at $0.13 raises $182,161. Hanlong will subscribe $180,000 (1,384,616 shares at $0.13, subject to approval), provided meanwhile as a converting loan. Hanlong also agrees to take its $132,054 November interest in shares, completing the $1.7M target.
31 July 2017quarterly activities report● Neutral
June quarter report: Langer Heinrich samples are in transit to Perth, and Paladin entering administration is not expected to directly affect the testwork. The company raised $1.36M in the quarter, including debts settled with shares. Talks continue with other resource owners.
15 June 2017material agreement▲ GoodMajor
Marenica and Paladin agree to run U-pgrade testwork on low-grade ore from Paladin's Langer Heinrich mine in Namibia, with results about 6 weeks after the sample reaches Perth. A new test partner after Deep Yellow ended its Tumas testwork; no commercial terms.
13 June 2017capital raising announcement● Neutral
Marenica issues 745,443 shortfall shares plus 2,940,000 shares completing placement tranche 2, approved by shareholders on 2 June, and a further 81,192 shares for oversubscriptions. A shortfall of 2,706,991 shares remains to be placed by 29 August at no less than $0.13.
8 June 2017director officer appointment● Neutral
Shane McBride becomes part-time CFO (effective 1 May 2017) and Company Secretary, replacing Susan Hunter, who held the secretary role since August 2013. He has seven years' experience at an ASX uranium developer. This frees MD Murray Hill for business development.
1 June 2017capital raising announcement▼ Bad
Rights issue closes with valid applications of $303,048 for 2,331,141 shares at $0.13, well short of the $751,865 sought. The board will try to place the 3,452,434-share shortfall within three months.
What it means for a shareholder
2.3m new shares at A$0.130 to raise about A$303,048. That's 5.3% dilution: every existing holder's slice gets 5.3% smaller. If you held A$1,000 of shares (7,692 at the issue price), your slice goes from 0.0185% to 0.0175% of the company. To keep it you'd need 431 more shares - about A$56 at the issue price.
Create a free account to see this worked out for your own holding.
8 May 2017other● Neutral
Marenica confirms it has finished posting the rights issue offer document and entitlement forms to eligible shareholders. Administrative notice only.
1 May 2017capital raising announcement● Neutral
Letters sent to shareholders on the rights issue. Planned use of the $751,865: $325,000 for new commercialisation deals, $110,000 for creditors, and $78,541 Hanlong interest, which is offset against Hanlong's entitlement, cutting cash raised to $673,324. Shares would reach about 41.6M.
28 Apr 2017capital raising announcement● Neutral
Offer document for the rights issue announced in April: 1 new share for every 6.2 held at $0.13, to raise about $751,865. Opens 8 May, closes 29 May 2017; not underwritten, Patersons is lead manager.
27 Apr 2017quarterly activities report● Neutral
March quarter report repeats the scoping study: about 50% lower operating and capital costs with U-pgrade, with data restricted by ASIC. U3O8 Corp sample testing is in progress, talks with other resource owners continue, and the A$1.7M raising is still under way.
18 Apr 2017resource reserve update▲ GoodMajor
Independent scoping study on the Marenica uranium project concludes it would have industry-competitive costs using U-pgrade, with shallow, flat, low-waste surface mining. Production and cost figures are withheld because ASIC restricts reporting from inferred resources. Further funding would likely be needed.
18 Apr 2017other● Neutral
ASX lifts the trading suspension on Marenica shares immediately, following release of the scoping study announcement. Administrative notice only; no new information.
12 Apr 2017capital raising announcement▲ GoodMajor
Marenica raises $1.7M at 13 cents a share: a $951,200 placement plus a $748,800 rights issue of 1 new share for every 6.2 held. Funds go to finding resource owners and uranium project access. Shares stay suspended pending the scoping study result.
11 Apr 2017other● Neutral
At its own request Marenica's shares are placed in voluntary suspension pending an announcement about a capital raising. The suspension is to end no later than 18 April 2017.
27 Feb 2017half year report▼ Bad
Half-year loss to 31 December 2016 was $844,533, up from $617,488 a year earlier. The report repeats the scoping study and the Deep Yellow testwork termination, with the licence agreement still in place. Text truncated.
31 Jan 2017quarterly activities report▼ BadMajor
December quarter report says Deep Yellow terminated all Tumas testwork with Marenica after its new management's review, though Marenica says the licence agreement itself remains. This undercuts the Tumas path and feasibility work expected from the September deal.
19 Jan 2017other▲ GoodMajor
Marenica starts a revised scoping study on the Marenica project, using U-pgrade to test viability at US$65-75/lb uranium. Results are due by about April 2017, with DRA and Orelogy engaged and a feasibility study possible later in 2017.
19 Dec 2016regulatory community update▲ GoodMajor
Namibia's mines ministry grants a five-year Mineral Deposit Retention Licence over the Marenica Uranium Project, replacing the exploration licence, with no exploration spending required. This resolves the open licence review and gives tenure certainty while uranium prices stay low.
22 Nov 2016investor presentation● Neutral
Managing Director's AGM presentation restates the year's achievements, the Deep Yellow licence fee terms, the Hanlong note extension and the plan to target acquisitions of deposits suited to U-pgrade. No new results.
22 Nov 2016agm notice● Neutral
Chairman's AGM address recaps the Deep Yellow licence, the U3O8 Corp testwork, the Hanlong note terms and the $500,000 placement. A shareholder vote on the remaining 4,000,000 shares is set for 19 December 2016. Also flags a plan to acquire uranium deposits suited to U-pgrade.
9 Nov 2016listing compliance notice▼ Bad
ASX queried the company's cash after the September quarter showed $146,000 cash and $412,000 operating outflow, warning that funding might run short. Marenica replied it expects to keep raising funds, citing the $500,000 placement announced the same day.
9 Nov 2016capital raising announcement● NeutralMajor
Marenica raises $500,000 by placing 5,000,000 shares at $0.10, a 20% discount to the last price. Only $100,000 is issued now; $400,000 needs shareholder approval. Hanlong defers note interest to 30 April 2017 at 12% instead of 8%.
3 Nov 2016director officer appointment● Neutral
Interim pay for executive director John Sestan is set at $208,000 a year from 1 October 2016, including director fees and super, on a part-time basis. His final contract terms are still being negotiated.
