27 Sept 2022annual report▲ Good
Annual report to 30 June 2022 recaps the year: resources up over 20% to 115Mlb, new discoveries at Namib IV, Hirabeb and Capri, and the $11.5M raising. Cash at year end was $15.8M.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Sept 2022other● Neutral
Appendix 4G corporate governance checklist filed with the annual report, pointing to the company's website statement. Administrative, no new information.
9 Sept 2022auditor change● Neutral
Rothsay Auditing resigned with ASIC consent, and Rothsay Audit & Assurance Pty Ltd was appointed auditor from 9 September 2022 until the next AGM. Same auditor name as before; the text suggests an entity change, not a new firm (inference).
29 Aug 2022security holder rights change● Neutral
400,000 unlisted employee options granted at $0.70, expiring 28 August 2026; 100,000 vest immediately, the rest vest over 12 and 24 months. Routine incentive grant.
20 June 2022investor presentation● Neutral
Updated company presentation restating known projects and resources: 81Mlb in Namibia (Marenica, Koppies), 48Mlb in Australia, Hirabeb's 4km and 9km zones, and Capri's drilling plan. No new results or figures.
16 June 2022drilling result▲ GoodMajor
Hirabeb drilling (341 new holes) defines mineralisation over 4km at Hirabeb I and anomalous uranium over 9km at Hirabeb II, both open along strike. Wide-spaced drilling; closer-spaced follow-up is planned for later in 2022. No resource yet.
4 May 2022investor presentation● Neutral
Invitation to an investor webinar on 5 May 2022 to discuss the 22% resource increase. Administrative, no new information.
4 May 2022resource reserve update▲ GoodMajor
Maiden Koppies Inferred resource of 20.3Mlb eU3O8 (41.4Mt at 220ppm) lifts total resources 22% to 115Mlb. A new basement-hosted mineralised zone 1.6km east of Koppies I lies outside the estimate and is open along strike.
2 May 2022investor presentation● Neutral
Notice that the managing director will present at the Metals and Mining Virtual Investor Conference on 3 May 2022. Administrative, no new information.
6 Apr 2022investor presentation● Neutral
Updated company presentation restating projects and resources, including Capri's 73km of palaeochannels. It now says the maiden Koppies resource is expected in the June quarter 2022, a further delay from the April date given on 16 March.
16 Mar 2022drilling result▲ GoodMajor
Airborne survey over the Capri tenement (EPL7508) identified 73km of palaeochannels with matching radiometric anomalies, similar to Marenica. Drilling is planned for the June quarter 2022. The Koppies resource slips from March quarter to April 2022 because drilling was extended.
11 Mar 2022half year report● Neutral
Half-year to 31 December 2021 shows a loss of $2,993,006 (versus $1,054,847 a year earlier) and cash of $16.4M. The 25.56M-share placement at $0.45 completed 1 December. Share-based payments were $815,634.
8 Feb 2022other● Neutral
Shares began trading on the OTCQX Best Market in the US on 7 February 2022, widening access for US investors. The primary listing stays on the ASX. No funding or project change.
19 Jan 2022drilling result▲ GoodMajor
Koppies resource drilling (558 holes, 4,701m) confirmed shallow calcrete-hosted uranium, with best results 8m at 768ppm and 6m at 796ppm eU3O8. Mineralisation is open to the east and south; a maiden resource is still expected in the March quarter 2022.
19 Jan 2022other● Neutral
ASX paused trading in the company's securities pending a further announcement. No reason is given in the text.
16 Dec 2021investor presentation● Neutral
AGM slides repeat known projects and resources. They show 261M shares, 25M options, a 40c price (15 Dec), $104M market cap and a maiden Koppies resource expected in Q1 2022. Namib Area drilling is complete for 2021.
16 Dec 2021director officer appointment● Neutral
Non-executive director Nelson Chen retired from the board on 16 December 2021 after 10 years, the longest-serving member. The board is now Bantock, Hill and Mann.
9 Dec 2021investor presentation▲ Good
Company says it is fully funded, with $16.5M cash after the placement, and outlines 2022 programs: Koppies resource drilling, Hirabeb drilling, and work at Angela, Oobagooma and Minerva. Total JORC inventory is stated as 94.4Mlb. Plans, not new results.
25 Nov 2021capital raising announcement▲ GoodMajor
Placement of about 25.6M shares at $0.45 raises $11.5M before costs, an 11.8% discount to the last close of $0.51. Lifts cash to about $17.6M. Funds Koppies resource drilling and exploration; a maiden Koppies JORC resource is targeted for early 2022.
What it means for a shareholder
25.6m new shares at A$0.450 to raise about A$11.5m. That's 9.9% dilution: every existing holder's slice gets 9.9% smaller. If you held A$1,000 of shares (2,222 at the issue price), your slice goes from 0.000951% to 0.000857% of the company. To keep it you'd need 243 more shares - about A$109 at the issue price.
Create a free account to see this worked out for your own holding.
11 Nov 2021investor presentation● Neutral
Notice that the managing director will present virtually at the Noosa Mining Unearthed conference on 12 November 2021. Administrative, no new information.
1 Nov 2021admin correction● Neutral
Registered and principal office moved to Suite 2, 5 Ord Street, West Perth. Other contact details unchanged. Administrative.
21 Oct 2021investor presentation● Neutral
Notice that the managing director will present live at the Future Energy Conference on 21 October 2021. Administrative, no new information.
19 Oct 2021investor presentation● Neutral
Notice that the managing director will present at the Virtual Investor Conference on 19 October 2021. Administrative, no new information.
28 Sept 2021annual report● Neutral
Annual report for year to 30 June 2021. It recaps the Hirabeb, Namib IV and airborne EM results and the name change, with $6.66M cash at year end. The chairman expects continued news flow. Largely repeats known information.
28 Sept 2021other● Neutral
Appendix 4G corporate governance checklist filed with the annual report, pointing to the governance statement on the company website. Administrative, no new information.
21 Sept 2021investor presentation● Neutral
Notice that the managing director will present at the Broker Briefing Uranium Investor Webinar on 23 September 2021. Administrative, no new information.
20 Sept 2021resource reserve update▲ GoodMajor
Exploration Target of 26 to 52Mlb U3O8 at 650 to 950ppm set for the 100%-owned Oobagooma project, WA, acquired Dec 2019. Based on historical 1980s drilling, not modern drilling; conceptual only, not a resource. Four roll fronts over 9km of strike.
24 Aug 2021security holder rights change● Neutral
750,000 unlisted options at $0.40, expiring 29 August 2025, issued to a new employee under his engagement letter. The terms refer to Dr Andy Wilde, the new Exploration Manager. Routine staff incentive; no cash raised.
17 Aug 2021director officer appointment▲ Good
Dr Andy Wilde becomes Exploration Manager from 16 August 2021. He has over 35 years' experience, mostly in uranium, including work with Paladin and Deep Yellow in Namibia, and knows calcrete palaeochannel mineralisation.
10 Aug 2021drilling result▲ GoodMajor
First drilling at Namib IV, 258 RC holes (2,336m), found uranium over 17km of the 19km palaeochannel. Best intercepts: 2m at 758ppm eU3O8 and 4m at 387ppm from surface. This is the third Namib Area tenement drilled to show mineralisation, after Koppies and Hirabeb.