Past year: ▼ 35%(20.5c – 47.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Sept 2019investor presentation● Neutral
September roadshow presentation repeats known points: Optimal acquisition, 4,527 km2 Namibian holding, U-pgrade. Shows price 11c, 89.2M shares plus 27.5M to be issued, A$12.8M market cap, cash A$1.9M at 31 July. No new announcements.
27 Aug 2019drilling result▲ GoodMajor
First Koppies RAB drilling: all eight holes hit uranium, best 6m at 432ppm U3O8, over a zone 1,000m long and 800m wide, shallower than 20m. Expanded drilling starts next week. This confirms the March exploration theory at the first granted licence.
20 Aug 2019asset acquisition disposition▲ Good
Marenica agrees to acquire 95% of Namibian licence EPL 6746 if granted, filling a gap in its Namib ground. No upfront payment; Marenica funds the licence through to a decision to mine. It claims to be Namibia's largest nuclear-fuel tenement holder.
31 July 2019capital raising announcement● Neutral
Compliance notice on the placement of 16,012,417 shares, of which 5,030,574 were issued under the 7.1A capacity. Dilution to prior holders from that portion is 7.1%. No underwriting. Broker options need shareholder approval.
26 July 2019listing compliance notice● Neutral
ASX lifts the suspension following Marenica's capital raising announcement. Administrative notice only.
26 July 2019capital raising announcement▲ GoodMajor
Marenica raises $1.6M via a placement of 16.0M shares at 10c, each with a free 17c option over two years. Funds go to Namibian exploration, the Optimal assets and U-pgrade. Options need shareholder approval; completion of the Optimal deal is expected in September.
What it means for a shareholder
16.0m new shares at A$0.100 to raise about A$1.6m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.0137% to 0.0112% of the company. To keep it you'd need 2,185 more shares - about A$219 at the issue price.
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24 July 2019listing compliance notice● Neutral
Trading suspended at Marenica's request, from 25 July, so it can complete a capital raising advised to ASX on 23 July. Administrative notice only, expected to last until an announcement or 29 July.
18 July 2019drilling spud▲ GoodMajor
Marenica has environmental clearance and has started drilling at Koppies (EPL 6987), granted in March, next to Deep Yellow's Tumas East. Historical 1970s holes showed 350-560ppm U3O8. EM surveys and drilling will follow. This continues the Koppies thread.
4 July 2019asset acquisition disposition▲ GoodMajor
Marenica signs a binding term sheet to buy Optimal Mining's Australian uranium tenements for A$250,000 cash plus 27.5M shares. This adds 48Mlb at 859ppm, lifting its resource base to 110Mlb, about 80% more. Conditions apply, including an in-specie distribution to Optimal shareholders. Marks a shift beyond Namibia into Australia.
4 July 2019listing compliance notice● Neutral
ASX lifts the suspension from the start of trading on 4 July 2019, after Marenica released its resource update announcing the Optimal acquisition. Administrative notice only.
3 July 2019listing compliance notice● Neutral
Marenica asks to extend the voluntary suspension so it can complete the material acquisition advised on 27 June. Expected to last until an announcement or the open of trading on 8 July 2019.
2 July 2019listing compliance notice● NeutralMajor
Trading suspended at Marenica's request so ASX can consider how Listing Rules Chapter 11 applies to a material acquisition the company advised on 27 June 2019. Expected to last until an announcement or 3 July.
8 May 2019investor presentation● Neutral
Sydney Resources Round-up presentation repeating known points: 61Mlb Marenica resource, U-pgrade, Namibian licences. Shows 73.2M shares, 10c price (6 May 2019), A$7.3M market cap, $1.1M cash at 31 March. No new announcements.
6 May 2019regulatory community update▲ GoodMajor
Four more licences granted (EPL 7278, 7279, 7368, 7436), lifting the Namib ground to 308 km2. Following Namibia's removal of local-ownership requirements, Marenica's interest in these Namib licences rises from 95% to 100%. This resolves part of the pending applications thread.
29 Mar 2019admin correction● Neutral
Amended version of the 25 March Koppies announcement, adding detail on the exploration target: five target areas, only one supported by drilling within the licence, based on 1978 historical data. Also adds the planned EM surveys and drilling. Clarification only; no change to the grant.
27 Mar 2019drilling spud▲ GoodMajor
Drilling starts at Mile 72, a 60-hole program targeting an 11 km by 2 km palaeochannel, following the environmental clearance received earlier. Results are expected by the end of June 2019.
25 Mar 2019regulatory community update▲ GoodMajor
First of Marenica's Namib licence applications granted: EPL 6987 Koppies, covering the eastern extension of the Tumas palaeochannel next to Deep Yellow's ground. Non-JORC exploration target of 20-60Mlb at 300-500ppm. Environmental clearance (about two months) is needed before exploration.
13 Mar 2019half year report● Neutral
Half-year to 31 December 2018: loss $648,458 versus $628,103 a year earlier. Confirms the $1.178M placement and settlement of the $1.65M convertible note via shares at 58c. Directors state the company can pay its debts as they fall due.
19 Feb 2019regulatory community update● Neutral
Marenica sets out its strategy of securing Namibian licences east of known calcrete uranium deposits, using 1970s General Mining maps. Nine licence applications are pending and Mile 72 exploration has begun. It would hold Namibia's largest uranium landholding if all are granted.
30 Nov 2018security holder rights change● Neutral
Prospectus covering 5,890,000 placement options (from the $1.178M September placement) plus 2,000,000 broker options. No funds are raised. Paperwork for options already promised, following shareholder approval.
26 Nov 2018other● Neutral
320,338 unlisted options at 35.5c expired unexercised on 26 November 2018. Shares on issue are 73,212,293. Routine securities update.
19 Nov 2018investor presentation● Neutral
November corporate presentation repeating known points: 61Mlb inferred resource, U-pgrade, Namibian portfolio. Shows 73.2M shares, 8c price (13 Nov 2018), A$5.9M market cap, $1.6M cash and no debt. No new announcements.
14 Nov 2018debt financing▲ GoodMajor
Marenica is debt free after issuing 2.85M shares to Hanlong at 58c to clear the $1.65M convertible note due that day. Tranche 2 (3.17M shares, $317k) also completed, leaving $1.6M cash. This resolves the Hanlong note and placement threads.
13 Nov 2018admin correction● Neutral
Registered and principal office moved to Office C1, 1139 Hay Street, West Perth. Administrative notice only.
1 Nov 2018regulatory community update● Neutral
Marenica highlights its licence applications next to Deep Yellow's Tumas tenement, where Deep Yellow's drilling is 200 m from one application. It says the Tumas channel likely extends into its ground. Applications are still pending in Namibia, so nothing is granted.
26 Sept 2018other● Neutral
Corporate governance checklist (Appendix 4G) lodged with the annual report. Administrative filing with no new information on the business.
25 Sept 2018annual report● Neutral
2018 annual report to 30 June. Chairman Bantock's first letter restates the strategy: acquire tenements, apply U-pgrade to third-party projects such as Langer Heinrich and Tumas, and build on the Mile 72 purchase. No new commercial deals in the text provided.
19 Sept 2018capital raising announcement● NeutralMajor
Marenica raises $1.178M by placing 11.78M shares at 10c, with one 17c two-year option per two shares. Tranche 1 is 8.61M shares; tranche 2 and the options need shareholder approval. Total shares would reach 69.18M. Funds go to U-pgrade outreach and acquisitions.
What it means for a shareholder
11.8m new shares at A$0.100 to raise about A$1.2m. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.0174% to 0.0145% of the company. To keep it you'd need 2,052 more shares - about A$205 at the issue price.
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31 July 2018director officer appointment● Neutral
Doug Buerger retires as non-executive director, completing the transition foreshadowed when Bantock became Chairman in February. He was on the board from 2010 and chair 2014 to early 2018, and stays on the technical committee.
17 May 2018security holder rights change● Neutral
Prospectus lets placement participants receive 5,309,998 free options (17c, two years) from the $1.062M March placement, plus 2,000,000 broker options. No funds are raised. This is the paperwork for options already promised.
