Past year: ▼ 35%(20.5c – 47.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Jan 2020quarterly activities report● Neutral
December quarter report recaps Koppies 2 (up to 1.2km wide, 3.6km long), completion of the Optimal deal on 12 December, and the EPL 7662 grant. Phase 3 assays now expected in the March 2020 quarter, later than the January date given in December.
30 Jan 2020quarterly activities report● Neutral
Appendix 5B for December quarter: operating cash outflow $291k, investing outflow $73k, no debt. Cash at 31 December $1.096M, against $1.46M the prior quarter. Company calculates 3.77 quarters of funding at the current rate.
16 Dec 2019asset acquisition disposition▲ GoodMajor
Marenica completes the Optimal Mining acquisition, adding 48Mlb of uranium at 859ppm and doubling its resources, alongside the 61Mlb Marenica project. This resolves the thread open since July, about three months later than first expected.
10 Dec 2019investor presentation● Neutral
December 2019 presentation repeats known points: Koppies results, 4,527 km2 Namibian holding, Optimal assets. Shows price 7.3c, 89.5M shares plus 27.5M to be issued, A$8.5M market cap, cash A$1.5M at 30 September. No new announcements.
5 Dec 2019drilling result▲ Good
Phase 3 RC drilling (65 holes, deepest 22m) indicates the Koppies 2 palaeochannel is up to 1.2km wide and at least 3.6km long. No new assays; results due January 2020. Widens the potential tonnage of the Phase 2 discovery.
28 Nov 2019admin correction● Neutral
Company lodges an amended constitution, adopted by special resolution at the 28 November 2019 AGM. Administrative filing with no new substance in the text provided.
7 Nov 2019drilling result▲ GoodMajor
Koppies Phase 2 drilling finds a second mineralised palaeochannel (Koppies 2) over 3.6 km. Best result is 13m at 905ppm U3O8, including 2m at 4,504ppm, in holes under 20m deep. Under 5% of the licence explored; expanded drilling to follow.
1 Nov 2019capital raising announcement● Neutral
Prospectus for 16,012,417 placement options and 3,202,483 broker options, plus 27.5M converting preference shares to Optimal for the acquisition. All depend on a general meeting proposed for 10 December 2019. Only $320.24 is raised.
31 Oct 2019quarterly activities report● Neutral
September quarter report restates Koppies Phase 1 results (best 6m at 432ppm U3O8), the EPL 6746 deal and a new EPL 7803 application. Optimal acquisition, delayed by factors outside Marenica's control, now expected in the December 2019 quarter; phase 2 assays due November.
23 Oct 2019director officer appointment▲ Good
Marenica appoints Jessica Bezuidenhout as General Manager Namibia, plus consultants Berti Roesener (exploration manager) and David Princep (geologist). Princep previously prepared resource estimates on most of the Optimal assets. Supports expanded exploration in Namibia and Australia.
26 Sept 2019other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report. Administrative filing with no new substance.
26 Sept 2019other● Neutral
Corporate governance statement for the year to 30 June 2019, approved 26 September. Routine disclosure against ASX recommendations; it is partially compliant on diversity. No new substance.
26 Sept 2019annual report● Neutral
Annual report to 30 June 2019. Chairman describes the Optimal acquisition (48Mlb, A$0.25M plus 27.5M shares) as subject to shareholder approval, with a notice of meeting and prospectus to come. Reports Koppies results and a 4,500 km2 Namibian position.
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 2019quarterly activities report● Neutral
June quarter report restates the Optimal acquisition, the $1.6M placement and Koppies drilling. Exploration spend was $97,092. Marenica holds seven Namibian licences with five applications pending. No new results beyond earlier announcements in the text provided.
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.
Create a free account to see this worked out for your own holding.
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.
10 Apr 2019quarterly activities report● Neutral
March quarter report: Koppies granted and Mile 72 drilling started, repeating earlier announcements. Nine licence applications remain pending. Koppies exploration awaits environmental clearance. Cash was $1.1M per the May presentation. Nothing new beyond earlier announcements in the text provided.
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.
