Past year: ▼ 35%(20.5c – 47.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Apr 2007quarterly activities report● Neutral
March 2007 quarter: RC drilling began mid-March with 95 holes (1,696m) done and no assays yet. Ten new targets were identified, about 2,000 old holes located, and Scaddan grew to 300 sq km. Largely repeats earlier announcements.
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.
31 Jan 2007quarterly activities report● Neutral
December 2006 quarter: Phase One and Two trench sampling completed (assays up to 1,483ppm U3O8), airborne survey done, and historic holes being located. The $1.9m placement closed, the AGM passed and Scaddan licence E63/1033 was granted. Largely repeats earlier announcements.
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.
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 2006agm notice● Neutral
All eight AGM resolutions passed on a show of hands, including incentive options for Reisgys, the share placement authority, higher director fees and director options. This resolves the AGM thread.
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.
31 Oct 2006quarterly activities report● Neutral
September 2006 quarter: Marenica phase one sampling completed and phase two underway, with the 8,000-tonne U3O8 exploration target restated. Satellite imagery and airborne geophysical work are in progress. No new results.
27 Oct 2006agm notice● Neutral
Notice of the 30 November 2006 AGM. Resolutions include 3.25m-option-related incentive grants to Reisgys, director options, a share placement authority, and lifting the director fee cap from $50,000 to $100,000.
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 2006quarterly activities report▲ Good
June 2006 quarter: the company entered the Marenica uranium joint venture (earning 80%), received Namibian ministerial and environmental approvals, Reisgys became Acting CEO, and the gold tenement sale completed. Prospecting found uranium at surface outside the four historic anomalies.
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.
