Past year: ▼ 35%(20.5c – 47.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
7 Apr 2008drilling result▲ GoodMajor
Drilling extends Marenica mineralisation up to 1.5km east and 2.5km southeast of the resource, with thickness up to 20m (e.g. 13.6m at 240ppm eU3O8). A target statement is due this month and a revised resource by mid-2008. Scoping metallurgy has started.
7 Apr 2008admin correction● Neutral
Notice that the share registry, Advanced Share Registry, has moved to a new Nedlands address. Administrative only.
25 Mar 2008drilling result▲ Good
Area 3 radon survey shows an undrilled anomaly about 2km long on the main channel, with a shallow carnotite pit inside it. Probing of historic holes gives intercepts such as 1.6m at 389ppm eU3O8. Supportive indications only, nothing drilled in the anomaly yet.
5 Mar 2008drilling result▲ GoodMajor
First Priority Area RC results extend Marenica mineralisation (over 100ppm eU3O8) east and southeast of the 15m lb resource, with five holes showing 10-15.7m accumulated thickness. The company says this improves heap-leach potential. Assays are delayed by laboratory backlogs.
21 Jan 2008other● Neutral
Cover letter saying a third-party research report by RM Research has been placed on the company website. No substance in the announcement itself.
12 Dec 2007investor presentation● Neutral
December 2007 presentation repeating the 15m lb Inferred Marenica resource, 80% interest and planned 2008 drilling and scoping study. Capital structure shows 269.1m shares and a A$120m fully diluted market capitalisation. No new results.
29 Nov 2007resource reserve update▲ GoodMajor
Maiden JORC Inferred resource for Marenica Areas 1-3: 32Mt at 213ppm U3O8 for 15m lb (110ppm cut-off, to 40m depth), in line with the 14-22m lb target. Probe grades were cut 20% after checks against assays. Drilling is planned over 28 sq km to expand it.
12 Nov 2007drilling spud▲ GoodMajor
RC drilling has begun at Marenica to test the radon-indicated palaeochannel and other targets. The aim is to expand the known mineralisation and the non-JORC target of 35-45Mt for 14-22m lb U3O8. Resolves the earlier search for a rig.
12 Nov 2007other● Neutral
Media release accompanying the drilling start. It calls the radon anomaly 'Area 6', about 11km by 2km, and says a first JORC resource is expected within six weeks. Largely repeats the same-day drilling announcement, with a more promotional tone.
31 Oct 2007annual report● Neutral
2007 annual report with chairman's review: initial JORC resource targeted around year-end, a 14-22m lb target for the Gold Fields area, and a scoping study planned afterwards. The chairman calls the radon-survey zone, over 10km long, the most exciting development. Largely repeats known facts.
25 Oct 2007drilling result▲ Good
Logging of 131 old holes over 4.5 sq km in Areas 1 and 2 found shallow intercepts, best 2.8m at 648ppm and 3.5m at 623ppm eU3O8. The maiden JORC resource target has now moved to year-end 2007.
11 Oct 2007drilling result▲ GoodMajor
A radon-gas (Track Etch) survey over 62.4 sq km indicates a possible new uranium palaeochannel about 10km long and 2km wide, east of the known mineralised areas. It is an indirect indicator, not drilled; the company is seeking an RC rig to test it.
28 Sept 2007annual report● Neutral
Duplicate of the 28 September full-year statutory accounts: loss $1,581,667 for the year to 30 June 2007, 80% of Marenica earned, and $828,000 received after year-end from partly paid shares. No new information.
28 Sept 2007annual report● Neutral
Statutory accounts for year to 30 June 2007: loss $1,581,667 (prior year $840,903). The company states it has earned 80% of Marenica. After year-end, $828,000 was received from 36m partly paid shares being paid up in full (Jul-Aug 2007). Auditor is Rothsay.
26 Sept 2007drilling result▲ Good
Logging of 45 old holes across 15 sq km south and southeast of Area 3 found shallow intercepts, e.g. 3m at 536ppm eU3O8; historic data from 62 more holes agrees. Scaddan (WA) airborne EM survey finished (917 line km), with preliminary results due early October.
30 Aug 2007drilling result▲ Good
Gamma logging of 203 old Gold Fields holes over 3.5 sq km (Mineralised Area 3) found shallow intercepts, best 5.8m at 1,444ppm eU3O8 and 3.2m at 1,582ppm. Company says this builds confidence in the historic data; a first JORC resource is due in the final quarter of 2007.
23 Aug 2007admin correction● Neutral
At ASX's request, the company clarifies that gamma-logging uranium grades assume equilibrium with decay products. If that assumption fails, true grades could be higher or lower than those reported on 21 August. No new results.
21 Aug 2007drilling result▲ GoodMajor
Gamma logging of 31 old holes 5-7km west of known mineralisation found narrow high-grade zones, e.g. 0.3m at 966ppm eU3O8, a new prospective area. Final RC assays were also received, best 3m at 385ppm. Scaddan electromagnetic survey starts 10 September.
27 July 2007other● Neutral
Updated re-release of the 25 July discovery announcement. The new element is a stated exploration target of 35-45 million tonnes at 175-225ppm U3O8 (14-22m lb) in the eastern half, based on Gold Fields historic data; not a JORC resource.
25 July 2007drilling result▲ GoodMajor
Drilling found a previously unknown mineralised area in the far east of Marenica (e.g. 1m at 617ppm), and mapping showed widespread alaskite intrusions, the rock type hosting Rössing's uranium. Further assays include 8m at 378ppm. About 15% of results remain outstanding.
28 June 2007drilling result▲ GoodMajor
More Marenica assays include 11m at 409ppm U3O8 (28-39m, with 1m at 1,632ppm) in a sand-covered palaeochannel 2km south of known mineralisation, an area little drilled historically. About a third of results remain outstanding. Extends the shallow mineralisation beyond the historic zone.
31 May 2007drilling result▲ GoodMajor
First assays from 12 of 150 Marenica holes show shallow uranium, e.g. 9m at 488ppm U3O8 from surface and 1m at 1,033ppm. The company says it has spent enough to earn 80% of the Marenica joint venture company; licence transfer applied for. A JORC resource is targeted this year.
22 Mar 2007drilling result▲ Good
Processing of geophysical and satellite data over all of Marenica produced ten new uranium targets, many under cover, and three Rössing-like structures suggesting possible primary uranium. Field checks start immediately. Builds on the earlier airborne survey and target interpretation thread.
22 Mar 2007investor presentation● Neutral
March 2007 company presentation on the uranium focus and Marenica, with an 8,000t U3O8 (about 18m lb) JORC resource target and 80% earn-in. Share structure at 19 March shows 201.6m shares. Largely repeats known facts.
16 Mar 2007half year report● Neutral
Half-year to 31 December 2006: net loss $911,430 (prior period $530,730). Cash rose to $2.02m after the $1.9m placement. No debt reported; liabilities were $118,069.
15 Mar 2007drilling progress report▲ Good
Field work found 1,945 historic holes, with 24,127m (75% of Gold Fields' drilling) still open for gamma probing, including 1,240 holes the company had no information on. Down-hole logging of up to 10,000m has begun; results will come progressively over several months.
12 Mar 2007drilling spud▲ GoodMajor
RC drilling has started at Marenica, about 2,500m, with all holes gamma probed and assayed. Scaddan's second licence, EL63/1037 (about 180 sq km), was also granted, taking the project to 300 sq km.
20 Feb 2007drilling scheduled▲ Good
A drill rig has been secured to start at Marenica in early March 2007, for about 2,000 to 2,500m of RC percussion drilling on known mineralisation and new targets. This follows the planned drilling flagged since late 2006.
16 Feb 2007other● Neutral
The company notes an independent RM Research paper, 'Targeting Uranium Resource by Second Half of 2007', is available on its website. No new company information.
24 Jan 2007drilling progress report▲ Good
Over 1,000 of about 2,000 historic Gold Fields drill holes have been relocated at Marenica, with the rest expected by late February. The airborne survey is complete. Open holes will be re-probed to enable a shorter drill program toward a JORC resource.
