Past year: ▼ 35%(20.5c – 47.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
26 Oct 2020quarterly activities report● Neutral
September quarter report: Hirabeb follow-up exploration awaits the capital raising. EPL 7435 (Skilderkop) was granted 21 October 2020 in the Namib area. Exploration spend was $239,568; Australian field work is suspended by COVID, with desktop studies continuing.
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.
6 Oct 2020agm notice● Neutral
AGM set for 26 November 2020 at CWA House, West Perth. Director nominations close 13 October 2020. Administrative notice only.
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.
30 Sept 2020other● Neutral
Corporate governance statement for the year to 30 June 2020 sets out compliance with ASX recommendations. It carries no new operational or financial information; it notes the diversity policy recommendation is not fully followed.
30 Sept 2020other● Neutral
Appendix 4G key to corporate governance disclosures for the year to 30 June 2020, lodged with the annual report. Administrative form pointing to the governance statement; no new operational or financial information.
30 July 2020quarterly activities report▲ Good
June quarter report recaps the Hirabeb discovery (36km palaeochannel, 30km mineralised) and the Minerva review, adding intercepts such as 5.5m at 11,131ppm and 3.5m at 17,843ppm U3O8. Follow-up programs are planned.
21 July 2020drilling result▲ GoodMajor
Maiden 120-hole, 1,601m RC program at Hirabeb finds a palaeochannel system over 36km long, with uranium mineralisation intersected across 30km. Cost under A$120,000; drill lines average 5.5km apart. Management calls it potentially Namibia's biggest discovery since Husab; no grades given in the visible text.
15 July 2020investor presentation● Neutral
Noosa Mining Virtual Conference slides (16 July) repeat known points: 48.4Mlb Australian resources, Koppies results, 3,888 km2 Namibian package, U-pgrade. No new announcements visible.
30 June 2020admin correction● Neutral
Re-lodgement of the 26 June option prospectus: the earlier version was not technically lodged with ASIC until 30 June. Offer terms are unchanged apart from the lodgement and opening dates moving to 30 June.
26 June 2020capital raising announcement● Neutral
Prospectus offers 26,349,989 free placement options to participants in the $1,001,300 placement, plus 1,000,000 broker options to Viriathus. No funds are raised. It follows the April placement and the option terms it announced.
22 June 2020drilling scheduled▲ Good
Namibian exploration restarts after the COVID lockdown. A A$100,000 drill program at Hirabeb tests HLEM palaeochannels over 18km, and a A$30,000 program tests Koppies' eastern extension up to 3.7km into EPL 7279.
27 May 2020security holder rights change● Neutral
7,309,998 unlisted 17c options expired unexercised on 25 May 2020. These were among the earlier 17c options noted as pending; the expiry removes them from the share structure.
13 May 2020investor presentation● Neutral
May 2020 briefing slides repeat known points: Koppies results, 48Mlb Australian assets, U-pgrade. Show 130M shares, 50M options, A$8.4M market cap at 6.5c, and cash of A$0.5M at 31 March 2020, including the $1.0M raising commitment.
12 May 2020other● Neutral
Invitation to a 14 May 2020 online investor briefing with Managing Director Murray Hill. Lists known investment highlights; no new results or figures.
5 May 2020resource reserve update▲ Good
Review of historical drilling at the Minerva uranium project in the Northern Territory, acquired in the December 2019 Optimal deal, finds 49 holes above 250ppm. Best is 11m at 4,218ppm U3O8, and mineralisation spans 2,400m. Data is historical, not a new JORC resource, and gold is also present.
30 Apr 2020admin correction● Neutral
Updated re-release of the 27 April Hirabeb survey announcement. The text appears to change only a figure number and add a survey photo. No new results visible.
29 Apr 2020quarterly activities report● Neutral
March quarter report recaps the Koppies 7,060ppm result, the 6.4 km2 palaeochannel system, the EPL 6663 joint venture, the grant of EPL 7508 and the $1M raising. COVID-19 lockdown has suspended exploration in Namibia and Australia; the company is preparing a restart program.
27 Apr 2020drilling result▲ Good
Electromagnetic surveys on the 730 km2 Hirabeb licence (EPL 7278) find palaeochannels over 30m deep, deeper than Koppies' 15-18m. At least half the licence could be covered. The COVID-19 lockdown in Namibia halts further surveys and drilling.
9 Apr 2020capital raising announcement● NeutralMajor
Binding commitments to raise $1.0M (26.35M shares at 3.8c, a 6.82% discount to the 15-day VWAP) with free 10c options expiring June 2023. Tranche 2 and $135,000 of director money need shareholder approval. Share price had been 6.6c in January. Non-executive directors forgo fees to 30 June.
What it means for a shareholder
26.4m new shares at A$0.038 to raise about A$1.0m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (26,316 at the issue price), your slice goes from 0.0225% to 0.0184% of the company. To keep it you'd need 5,926 more shares - about A$225 at the issue price.
Create a free account to see this worked out for your own holding.
26 Mar 2020drilling result▲ Good
Electromagnetic surveys double the Koppies palaeochannel system to about 6.4 km2, widening eastward into Marenica's adjoining EPL 7279. Drilling so far covers under half the area. No new assays; it sets targets for further drilling.
12 Mar 2020farm in farm out agreement▲ GoodMajor
Marenica forms a joint venture on EPL 6663, adjoining Koppies, holding 90% with Ignatius Hinky Theodore holding 10%. Marenica funds all exploration until a decision to mine. Extends its contiguous Namib land package next to the Koppies discovery.
11 Mar 2020half year report● Neutral
Half-year to 31 December 2019: loss $803,847 (prior period $648,458). Optimal acquisition completed on 13 December for $250,000 cash plus 27.5M convertible preference shares, which converted to ordinary shares on 16 December. Acquisition assets cost $3.17M.
10 Feb 2020drilling result▲ GoodMajor
Phase 3 Koppies RC assays arrive: KOR62 3m at 3,087ppm U3O8, including 1m at 7,060ppm, the best metre at Koppies. Koppies 2 stays up to 1.2km wide, 3.6km long and open to the east. Mid-sized follow-up drilling is planned. Assays arrived in the March-quarter window.
6 Feb 2020other● Neutral
Managing Director's letter to shareholders recaps 2019: six Namibian EPLs granted, Koppies 1 and 2 palaeochannel discoveries, and the 48Mlb Australian resource acquisition. Outlines a 2020 plan to test U-pgrade on the Australian resources. No new results.
4 Feb 2020investor presentation● Neutral
Indaba Mining Conference presentation repeats known points: Koppies results, Optimal assets, U-pgrade. Shows price 6.6c, 117M shares, A$7.7M market cap, cash A$1.1M at 31 December. No new announcements.
