4 Aug 2021investor presentation● Neutral
Notice that the managing director will present at a Broker Briefing digital investor event on 5 August 2021. Administrative, no new information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 July 2021drilling result▲ GoodMajor
Airborne EM over 5,217 line-km found palaeochannels covering about 347 km2 and 280km in length across the Namib Area. This is the survey started in April; the company expects drilling to continue into 2022. No uranium results yet.
15 July 2021director officer appointment▲ GoodMajor
Stephen Mann joins the board as non-executive director from 15 July 2021. He is a geologist with 17 years in uranium, including 12 years as Australian managing director of Orano, and co-founded U3O8 Ltd.
15 July 2021investor presentation● Neutral
Notice that the managing director will present virtually at the Noosa conference on 16 July 2021, with a presentation that repeats the 1 July slides. No new information.
1 July 2021investor presentation● Neutral
Slides repeat known resources and discoveries. They show 227M shares, 32M options, a 33c price (30 June), $75M market cap and $4.8M cash at 31 March. Namib IV drilling is shown as in progress; Koppies resource drilling still awaits a uranium price move.
29 June 2021investor presentation● Neutral
Notice that the managing director will present at a Broker Briefing webinar on 1 July 2021. Administrative, no new information.
8 June 2021investor presentation● Neutral
Rename-day overview of the portfolio: 61 Mlb at Marenica in Namibia and 48 Mlb in Australia, with Koppies, Hirabeb and Namib IV palaeochannels. Airborne EM data analysis is expected in July 2021. No new results.
4 June 2021other● Neutral
Following shareholder, ASIC and ASX approval, the company trades as Elevate Uranium Limited (code EL8) from 8 June 2021. This completes the rename proposed in April.
12 Apr 2021other● NeutralMajor
Board proposes renaming the company Elevate Uranium Limited, with ASX code EL8, subject to shareholder approval. The board says the assets have outgrown the Marenica project name. Notice of meeting being sent that day.
9 Apr 2021regulatory community update▲ Good
Airborne electromagnetic survey over 1,500 km2 of the Namib tenements began 7 April 2021, expected done within three months. It will largely replace slower ground surveys and covers Hirabeb. Survey area is smaller than the 6,300 line-km previously flagged.
23 Mar 2021drilling result▲ GoodMajor
New palaeochannel system found at Namib IV (EPL 7662, 379 km2), extending at least 19km, from ground geophysics only. Next steps: a drill rig is planned within weeks, and a 6,300 line-km airborne survey is due from April. No drilling or uranium results yet.
17 Mar 2021investor presentation● Neutral
Slides for a 17 March 2021 online conference repeat known points: 48 Mlb Australian resources at 859ppm, Namibian palaeochannels and U-pgrade. They show 205M shares, 55M options and a 14c share price on 16 March. No new results.
11 Mar 2021half year report● Neutral
Half-year to 31 December 2020 shows a loss of $1,054,847 (prior year $803,847). Tranche 2 placement shares were approved on 21 January 2021 and issued on 25 January 2021, completing the November raising.
21 Jan 2021other● Neutral
Shareholders adopted a new constitution at a general meeting on 21 January 2021. Administrative; the text provided is only the document itself. The same meeting appears to have approved Tranche 2 of the placement (inference, from the later half-year report).
29 Dec 2020price query● Neutral
ASX queried a jump from 11.5c to an intraday 16.5c on heavy volume. The company said it knew of no undisclosed information, pointing to higher uranium stocks, its 2020 exploration success, the November raising and a US uranium reserve bill.
15 Dec 2020security holder rights change● Neutral
15,490,000 unlisted options exercisable at 17c expired on 13 December 2020. Administrative notice.
10 Dec 2020investor presentation● Neutral
Post-raising update: the $5.4M funds exploration in Namibia and Australia for at least 18 months, with Hirabeb first priority and work starting early 2021. Restates the 36km palaeochannel, the 48.4 Mlb Australian resources and Angela's U-pgrade result. No new results.
25 Nov 2020capital raising announcement▲ GoodMajor
Placement binding commitments to raise $2.6M at 8.8c (29,545,454 shares), matching the SPP price; with the $2.8M SPP the total is $5.4M. Directors and officers commit $335,000; the company says it is funded for at least 18 months. Completes the flagged top-up placement.
What it means for a shareholder
29.5m new shares at about A$0.088 to raise about A$2.6m. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (11,364 at the issue price), your slice goes from 0.00649% to 0.00555% of the company. To keep it you'd need 1,918 more shares - about A$169 at the issue price.
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25 Nov 2020listing compliance notice● Neutral
ASX notice that the voluntary suspension will lift once the capital raising announcement is released. Administrative only.
24 Nov 2020listing compliance notice● Neutral
Shares placed in voluntary suspension at the company's request on 24 November 2020 pending a capital raising announcement, expected to last no later than 25 November. Likely the top-up placement flagged earlier (inference).
19 Nov 2020capital raising announcement▲ GoodMajor
SPP closed with applications for 31,660,619 shares raising $2,786,140 before costs, short of the $3.75M target but above the $2.0M underwritten amount. Shares to be issued 24 November 2020.
What it means for a shareholder
31.7m new shares at about A$0.088 to raise about A$2.8m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (11,364 at the issue price), your slice goes from 0.00793% to 0.00649% of the company. To keep it you'd need 2,510 more shares - about A$221 at the issue price.
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11 Nov 2020investor presentation● Neutral
Noosa online conference slides (11 November) repeat known points. They show 143M shares, 50M options and a 9.7c share price at 10 November 2020. No new announcements.
10 Nov 2020resource reserve update▲ GoodMajor
Angela resource re-reported under JORC 2012 at 30.8 Mlb U3O8 at 1,310ppm, Inferred category. Same tonnage and grade as the earlier JORC 2004 figure. This resolves the open JORC 2012 update thread for Angela.
9 Nov 2020capital raising announcement● Neutral
SPP closing date extended a week to 17 November 2020 after shareholders reported postal delays; later dates also move back seven days. Offer terms are unchanged at 8.8c, up to $3.75M.
29 Oct 2020other▲ GoodMajor
Proof-of-concept U-pgrade testwork on Angela ore cut acid consumption by about 77%, from 104 to 24 kg/t, and raised uranium leach extraction to 96%. Laboratory results on one sample; the company says Angela could become viable at a lower uranium price.
21 Oct 2020capital raising announcement● Neutral
SPP offer letter to eligible shareholders: $5,000 to $30,000 each at 8.8c, closing 10 November 2020, up to 42.6M new shares. Directors intend to take up their full entitlements. Repeats the 21 October announcement terms.
21 Oct 2020capital raising announcement● NeutralMajor
Share Purchase Plan to raise up to $3.75M at 8.8c, a 10% discount to the 5-day VWAP, partly underwritten to $2.0M by Viriathus. A further placement of up to $2.6M may follow. Funds go to detailed Hirabeb exploration and testing U-pgrade on the Australian assets.
13 Oct 2020investor presentation● Neutral
Notice of a 13 October 2020 investor webinar with Murray Hill hosted by Reach Markets. No new information.
7 Oct 2020investor presentation● Neutral
October 2020 investor webinar slides (8 October) with Murray Hill repeat known points: 48 Mlb Australian resources at 859ppm, Koppies results, Hirabeb 36km palaeochannel, U-pgrade. No new results.
30 Sept 2020annual report● Neutral
2020 annual report calls the year transformative: 48Mlb Australian resources acquired and Koppies and Hirabeb palaeochannel discoveries made. Company says it holds over 90Mlb of U3O8 resources. Koppies drilling indicates roughly 300 to 350ppm U3O8 grade. Financial detail not visible in the extract.