Past year: ▼ 35%(20.5c – 47.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Sept 2011annual report● Neutral
Annual financial statements for the year to 30 June 2011, shown here only as the directors' report and front pages (rest truncated). Hanlong nominee Calvin Zhu is recorded as resigning from the board on 13 September 2011, only nine months after joining.
22 Sept 2011asset acquisition disposition● NeutralMajor
Marenica subscribes for 3.4M shares in Texas & Oklahoma Coal Company, a new US coal start-up, equal to 6.4% of its pre-IPO capital. Chairman Robert Pearce is also a director and investor in it. First step in diversifying beyond uranium; ASX listing is expected in early 2012.
18 July 2011drilling result▲ Good
East Pit infill drilling is finished (205 holes, 11,201m); 86% of holes probed hit over 100ppm, with best results such as 4.0m at 1,169ppm. MA7 drilling is also complete (88 holes, 2,525m), with results to follow. Supports the planned resource update.
8 June 2011drilling result▲ Good
Infill drilling in the East Pit area of the Marenica resource confirms continuity: 62 of 74 holes probed returned over 100ppm, with best intercepts to 19.4m at 193ppm. A further 3,000m is planned at MA7 to support a first resource estimate there.
16 Mar 2011other▲ Good
First-stage testwork on the Marenica ore shows 80-93% of the uranium can be collected into a concentrate. Early bottle-roll leach tests show recoveries around 50% after 24 days with low reagent use. Supports the heap leach route in the 2010 scoping study; a pre-feasibility study is planned for 2011.
4 Feb 2011investor presentation● Neutral
Notice of an audio broadcast of CEO John Young discussing the December 2010 quarterly report. No new information in the announcement itself.
24 Dec 2010other● Neutral
Company lodges its securities trading policy with the ASX under Listing Rule 12.9, effective 1 January 2011. It bars trading in the 5 days before half-year and annual reports and while holding unreleased price-sensitive information. Administrative; no new project or funding news.
20 Dec 2010drilling result▲ GoodMajor
Reconnaissance RC drilling of 67 holes at MA7 finds two mineralised trends, each over 2km long and up to 400m wide. Best intercept is 8.8m at 319.6ppm eU3O8. Infill drilling is planned for first half 2011. This builds on the earlier first-pass MA7 result. The release states 80% ownership, while earlier reports said 75%.
14 Dec 2010other● Neutral
Top 20 shareholder list after the rights issue. Hanlong Energy is now third at 5.82%, with Areva at 9.54%. The top 20 hold 65.18%. Reflects the completed rights issue and underwriting; no new events.
14 Dec 2010director officer appointment● Neutral
Calvin Zhu, who works for Sichuan Hanlong Group and previously worked at Credit Suisse in M&A, is appointed non-executive director. Follows the Hanlong funding deed, which gave Hanlong the right to nominate a board representative.
22 Nov 2010investor presentation● Neutral
AGM presentation repeats the scoping study case (US$260M capital, US$38/lb, 13 years) and Hanlong funding. Shows 499M shares after the rights issue, A$3.5M cash and A$2M convertible debt. Targets definitive feasibility by end 2012 and production in 2014. Nothing new.
15 Nov 2010capital raising announcement● Neutral
Offer document for the rights issue: one share for every 16 at 7c to raise up to about A$2.04M, underwritten by Hanlong. The price is a 15.75% discount to the one-month average trading price. Closes 3 Dec. Details already announced.
5 Nov 2010capital raising announcement● Neutral
Letters set out the underwritten rights issue announced 3 Nov: one new share for every 16 held at 7c, raising up to about A$2M. Hanlong-related entity underwrites with no fee. Closes 3 Dec; shares issue 8 Dec. Shareholders in some countries are excluded.
1 Nov 2010capital raising announcement▲ GoodMajor
Hanlong Energy, a Chinese group, provides A$5M: a 3-year A$2M convertible note at 8% (convertible at 7c), a A$1M placement of 14.26M shares at 7c, and underwriting of a A$2M rights issue at 7c. An MOU offers exclusive talks to Dec 2011 on further funding and off-take.
18 Oct 2010annual report● Neutral
2010 annual report with chairman and CEO letters. Repeats the 85Mlb resource, heap leach preference and 2014 production target, and calls the project 75%-owned. AGM on 19 Nov seeks to lift the directors' fee cap to A$300,000 and approve director options. Neil Biddle will not stand for re-election.
5 Oct 2010resource reserve update▲ GoodMajor
Upgraded SRK scoping study: heap leach producing 3.5Mlb a year over 13 years, operating cost US$38/lb, capital US$260M, five-year payback. Resource rises from 85Mlb to 648Mt at 97ppm for 138Mlb at a 50ppm cut-off. Resolves the suspended scoping study.
27 Sept 2010investor presentation● Neutral
Melbourne Resource Roundup presentation restates the project case: 85Mlb resource 'and growing', heap leach production potential of 2.4-3.5Mlb a year over 10-18 years. Shows 455M shares, 54M options and Areva at 10.45%. Largely repeats known facts.
24 Sept 2010director officer appointment▲ GoodMajor
Doug Buerger, former Bendigo Mining chief executive who began his career in Namibia, joins the board. Director Robert Pearce becomes Chairman immediately, filling the seat vacant since Woolford resigned in May.
23 Sept 2010annual report● Neutral
Annual financial statements for the year to 30 June 2010; the extract available mostly lists directors and officers. Woolford is recorded as resigning on 19 May. Financial figures are not in the text provided.
10 Sept 2010other● Neutral
Notice of a Boardroom Radio audio broadcast of CEO John Young's Africa Downunder presentation. It carries no new information.
20 Aug 2010director officer appointment▲ Good
Metallurgist Gavin Becker, with over 35 years' experience including heap leach and uranium, joins as non-executive director. The update says heap leach testwork, supervised by Kappes-Cassiday, starts early September at AMMTEC in Perth, a delay from August.
16 July 2010other● Neutral
CEO letter reviews the year: the A$10M raising with Areva at 10.4%, resource rise to 85Mlb and heap leach preference. It targets production by 2014 and plans testwork starting August, trial mining and more drilling. Mostly known facts.
17 June 2010other▲ GoodMajor
Preliminary scoping work favours a large bulk heap leach over the planned agitated leach, with positive economics. The company will do more testwork from August and further drilling, aiming for a prefeasibility study. It cites an exploration target of 100-150Mt at 140-180ppm (conceptual).
31 May 2010drilling result▲ Good
First-pass drilling at new target MA7, 7km south-east of the resource, hits 6.4m at 231.6ppm eU3O8. More MA5 results include 1.4m at 960ppm. RC drilling to define resources at both is planned for Q3 2010.
20 May 2010director officer appointment▼ BadMajor
Chairman Graham Woolford resigned as chairman and director after 13 months. No reason or successor is given in the announcement.
27 Apr 2010drilling result▲ Good
Further probe results at MA5, west of the resource, define a 1.6km shallow mineralised zone open to the west; best 2.9m at 398ppm eU3O8. Aircore finished at 410 holes for 6,002m; RC drilling is planned for Q2-Q3 2010.
21 Apr 2010other● Neutral
Third-party notice from Quest Minerals, not Marenica: Quest pays A$5,000 a month for four months of exclusive due diligence on the 20% Namibian partner Xanthos's free-carried stake in the Marenica project. It may lead to talks to buy that stake; no change to Marenica's 80%.
21 Apr 2010investor presentation● Neutral
April 2010 'Road to Production' presentation in Germany repeats known facts: the 85Mlb resource, Areva's 10.6% stake, the scoping study under way and 16 new targets. Includes a uranium market outlook. No new results.
9 Apr 2010director officer appointment● Neutral
Robert Pearce, a chartered accountant of over 40 years, joins the board. He was most recently chairman of AIM-listed Gladstone Pacific Nickel. Fills the seat left by Paul Ingram's departure in December (inference).
25 Mar 2010admin correction● Neutral
Addendum to the half-year report gives the Indicated and Inferred breakdown of the 227Mt at 170ppm U3O8 resource. No new information.
