Each one in plain English, with the numbers worked through for a shareholder.
2 Sept 2020capital raising announcement● NeutralMajor
Talaxis's Kimon Gkomozias joins as Executive Director to drive financing and partner search, while Tim Turner resigns. The company plans a placement of up to A$2M at 4.5c with a 1-for-4 option at 5c expiring July 2022; Empire gets a 6% fee.
1 Sept 2020other● Neutral
Routine notice: issued capital unchanged at 668,959,875 ordinary shares at 31 August 2020. Administrative only.
3 Aug 2020other● Neutral
Routine notice: issued capital was 668,959,875 ordinary shares at 31 July 2020, up from 662,293,209. Administrative only.
31 July 2020quarterly activities report● Neutral
June quarter: COVID-19 travel limits still suspend operations, and the Dorfner/Anzaplan tests and the deep-drilling (>300m) decree remain pending. A$400k loan was cleared (A$370k converted at 4.5c, rest paid in cash). Directors defer fees until a raising. The 225.44M EURO options expired 30 June.
31 July 2020debt financing▲ Good
Received the final A$1.0M of the delayed second Winance draw, and the last 1,000 notes were released from escrow. This resolves the delay since March; A$4M of the A$10M facility has now been drawn.
1 July 2020other● Neutral
Routine notice: issued capital was 662,293,209 ordinary shares at 30 June 2020, up from 647,500,360 a month earlier. Administrative only.
15 June 2020joint venture update▲ Good
Its Austrian subsidiary was approved as a member of the EU-funded GREENPEG research program led by the University of Oslo, and received initial funds of €120k. Small funding, but shows EU support for the Wolfsberg project.
4 June 2020security holder rights change● Neutral
Reminder that EURO options at A$0.10 expire 30 June 2020, with ASX quotation ending 24 June. The shares last traded at A$0.055, below the exercise price, and there is no underwriting. Unexercised options lapse.
2 June 2020debt financing▲ GoodMajor
Received A$1.0M of the delayed A$2M second Winance draw, and 1,000 notes were released from escrow. This resolves the funding delay since March. The other A$1.0M is not mentioned as received in the announcement.
1 June 2020other● Neutral
Routine notice: issued capital was 647,500,360 ordinary shares at 31 May 2020, up from 634,890,959. Administrative only.
27 May 2020capital raising announcement● NeutralMajor
Agreed to convert up to A$742,918 of debts, including director and CEO fees and a short-term loan, into up to 16.5M shares at 4.5c with a free 5c option expiring July 2022. Director portions need shareholder approval. This eases cash pressure.
27 May 2020listing compliance notice● Neutral
Replying to ASX, the company says it did not see the Talaxis deal as price-sensitive because no raising had been completed. Talaxis was introduced by Empire on about 10 May, and the final agreement was signed on 26 May. It confirms it is complying with Listing Rule 3.1.
27 May 2020listing compliance notice● Neutral
ASX lifted the suspension following the company's reply to its query. Trading resumes. Administrative only.
27 May 2020listing compliance notice● Neutral
ASX suspended trading at the company's request pending its response to ASX queries about the Talaxis announcement. Administrative only.
27 May 2020material agreement▲ GoodMajor
Signed a one-year minimum strategic engagement with Talaxis (Noble Group) to help finish the Wolfsberg feasibility study and line up financiers, grants and offtake. Talaxis gets a 5% capital introduction fee and 36M performance rights, subject to approvals. Its MD becomes strategic advisor.
25 May 2020listing compliance notice● Neutral
ASX paused trading in the shares again pending a further announcement. Administrative only.
22 May 2020security holder rights change▼ Bad
38 million listed EURO options held by Helvetican were cancelled because the EUR7.5M debt facility has not funded and is uncertain. Listed options on issue fall to 225,440,000. The Helvetican loan looks stalled; the text says it is uncertain.
18 May 2020listing compliance notice● Neutral
ASX paused trading in the shares pending a further announcement. Administrative only.
18 May 2020listing compliance notice▼ Bad
In reply to ASX, the company says it first knew on 11 March 2020 that Winance's A$2M had not arrived. It says the delay was a London intermediary bank issue and that it did not treat this as price-sensitive until 1 April 2020.
12 May 2020listing compliance notice▼ Bad
Replying to an ASX query, the company says it remains a going concern but that depends on raising more capital. The A$2M Winance draw is still unreceived, and it is weighing two alternative funding deals plus debt-to-equity conversion. Market cap is about A$26M.
1 May 2020other● Neutral
Routine notice: issued capital was 634,890,959 ordinary shares at 30 April 2020, unchanged. Administrative only.
30 Apr 2020quarterly activities report▼ Bad
March quarter: COVID-19 suspended Wolfsberg operations and delayed the metallurgical final report. First forestry decree for deep holes received, mining authority decree pending. Winance Tranche 2 (A$2M) not yet received. Helvetican loan not funded and 38M options cancelled. A$400k short-term loan outstanding.
1 Apr 2020regulatory community update▼ BadMajor
COVID-19 travel restrictions have hampered Wolfsberg work, so the feasibility study will be delayed with no new completion date. Winance and Helvetican say they remain committed to their funding, but both have been hampered by the pandemic.
1 Apr 2020other● Neutral
Routine notice: issued capital was 634,890,959 ordinary shares at 31 March 2020, unchanged from the prior month. Administrative only.
13 Mar 2020half year report● Neutral
Half-year accounts to 31 December 2019: Winance had 940 notes left and Magna none. The directors' report repeats the EUR7.5M Helvetican facility. Per the later ASX reply, total assets were A$35.5M against A$2.73M liabilities, and going concern depends on raising capital.
10 Mar 2020admin correction● Neutral
Cleansing notice for the 2,000 Winance convertible notes (A$2M second draw, A$1.84M after costs). Conversion could add at most 36.4M shares at the A$0.055 floor. Funds are for the Wolfsberg feasibility study (A$1.565M) and working capital. Administrative.
5 Mar 2020debt financing● NeutralMajor
Drew a further A$2M from the Winance facility via 2,000 convertible notes (floor A$0.055; up to 36.4M shares). The EUR7.5M H120 loan is still undrawn pending security documents. Tim Turner joins the board; Stefan Müller resigned.
5 Mar 2020listing compliance notice● Neutral
ASX lifted the suspension immediately after the funding and board-changes announcement. Trading resumes. Administrative only.
4 Mar 2020listing compliance notice● Neutral
ASX suspended trading at the company's request, pending an announcement on a funding update and board changes. Intended to last until 5 March 2020 at most.
2 Mar 2020other● Neutral
Routine notice: issued capital was 634,890,959 ordinary shares at 29 February 2020, up from 627,557,626. Administrative only.
