Past year: ▼ 35%(20.5c – 47.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
11 Jan 2007drilling result▲ GoodMajor
Phase Two trench sampling at Marenica found broad near-surface mineralisation over 100m wide, with grades up to 1,005ppm U3O8 (60m averaging 540ppm in trench A1T2). Drilling is still planned for first half 2007. Follows Phase One results.
18 Dec 2006capital raising announcement▲ GoodMajor
The company finalised a A$1.9m placement of 9.5m shares at 20 cents, with two free listed options for every three shares, to clients of several brokers. The funds go to accelerated Marenica exploration and working capital.
What it means for a shareholder
9.5m new shares at A$0.200 to raise about A$1.9m. That's 4.7% dilution: every existing holder's slice gets 4.7% smaller. If you held A$1,000 of shares (5,000 at the issue price), your slice goes from 0.0026% to 0.00248% of the company. To keep it you'd need 247 more shares - about A$49 at the issue price.
Create a free account to see this worked out for your own holding.
30 Nov 2006regulatory community update▲ Good
Exploration licence EL63/1033 at Scaddan, 75km northeast of Esperance, has been granted to subsidiary Bronzewing Gold, covering 120 sq km. This converts one of the two earlier applications; the second is expected soon. Desktop data study comes first.
21 Nov 2006drilling progress report● Neutral
An airborne radiometric survey has started over Marenica, about 3,400 line km across 130 sq km in the northeast, run by UTS Geophysics. It should take 4-5 days and will help pick new uranium targets. No results yet.
13 Nov 2006investor presentation● Neutral
November 2006 company presentation repeating the Marenica project, Namibian setting and management team. Shows 191.97m shares at 31 October 2006. No new results.
8 Nov 2006drilling result▲ GoodMajor
Phase One trench sampling at Marenica returned uranium up to 1,483ppm U3O8 over 3m, plus 80m at 241ppm, confirming widespread near-surface mineralisation within the old Gold Fields area. This resolves the assays awaited since September; drilling is planned for first half 2007.
3 Nov 2006other● Neutral
The company notes an independent research paper by RM Research on its Namibian uranium exploration is available on its website. No new company information.
27 Oct 2006annual report● Neutral
2006 annual report: the chairman calls the year one of rationalisation and a strategic shift to uranium through Marenica, with gold tenements sold and Astop Biohealth shares distributed to shareholders. Repeats known facts.
17 Oct 2006resource reserve update▲ GoodMajor
Historic Gold Fields reports found in Namibia support an exploration target of at least 8,000 tonnes (about 18 million pounds) of U3O8 in roughly 40 million tonnes at 200ppm at Marenica. This is not a JORC resource, and more work is needed.
28 Sept 2006annual report● Neutral
Annual financial statements for the year to 30 June 2006 show a loss of $840,903 (2005: $897,075). The company describes its activities as exploration plus the new Namibian uranium project, with no dividends.
22 Sept 2006other▲ Good
Historic 1980s tests on Marenica samples showed about 96% of uranium dissolved by alkali leaching in 24 hours. The company cannot confirm where the samples came from or whether they are representative; Mintek is appointed metallurgical consultant.
12 Sept 2006drilling result▲ Good
First-phase radiometry and sampling at Marenica found strong readings in 6 of 7 trenches, with off-scale readings at Anomaly 4, and visible uranium at two new areas. Assay results are still awaited from South Africa, so grades are unconfirmed.
15 Aug 2006drilling progress report● Neutral
Trench, pit and surface sampling with hand-held radiometry has started at Marenica, focused on historic Anomalies 1 to 4. It is meant to help prioritise targets for a drill program planned for next quarter. No results yet.
24 July 2006investor presentation● Neutral
Presentation for the Australian Uranium Conference and broker meetings, repeating the Marenica project (earning 80%) and noting new uranium acquisitions are being sought. Shows 191.97m shares at 30 June 2006. No new results.
14 July 2006regulatory community update▲ GoodMajor
Namibia's Ministry of Environment and Tourism grants environmental clearance for the Marenica uranium licence (EPL3287), allowing drilling and other ground disturbance. This resolves the pending environmental contract thread, so exploration can begin on the project the company is earning 80% of.
6 July 2006director officer appointment● Neutral
David Semmens is appointed Joint Company Secretary and Chief Financial Officer. He has several years' experience as company secretary of ASX-listed companies.
4 July 2006drilling result▲ Good
Reconnaissance at Marenica (Marinica) shows past explorers drilled about 32,000 metres in over 2,000 holes, finding four uranium anomalies covering about 7 sq km. New palaeochannel targets and potential Rossing-style uranium are also identified. These are historical results, not new drilling.
26 June 2006asset acquisition disposition● NeutralMajor
The sale of the Duketon Belt gold properties to A1 Minerals, announced in December 2005, is completed for $100,000 cash and 2 million A1 shares, held in escrow for 12 months. The company says this lets it focus on new projects.
9 June 2006farm in farm out completion▲ GoodMajor
Namibia's Minister of Mines and Energy approves the joint venture to earn 80% of the Marinica uranium project, announced in April. Major exploration starts once an environmental contract is granted, which is described as well advanced.
23 May 2006director officer appointment● Neutral
Leon Reisgys has started as Technical Director and Acting CEO, as announced in March. Directors Robert Martin and David Hamlyn have resigned, and the operations office moves to West Perth.
19 Apr 2006farm in farm out agreement▲ GoodMajor
The company enters a joint venture to earn 80% of the Marinica uranium project in Namibia, a 706 sq km licence near Langer Heinrich. This follows the April rumour response and marks a move into uranium. The 49 million tonne figure is a company estimate with unknown grade.
7 Apr 2006other● Neutral
Replying to a newspaper rumour, the company confirms it is negotiating exploration project opportunities in Namibia and will update the market if it decides to proceed.
28 Mar 2006director officer appointment▲ GoodMajor
Leon Reisgys, a uranium geologist, is appointed Technical Director and Acting CEO from 22 May 2006 on a 3-year contract at $250,000 a year. He is to receive 3.25 million options at 10 cents, subject to shareholder approval.
3 Mar 2006half year report● Neutral
Half-year accounts to 31 December 2005 show a loss of $530,730 and cash of about $1.44 million, helped by the August 2005 placement of 70 million shares at 2.4 cents. No liabilities concern is flagged; directors state debts can be paid.
