Each one in plain English, with the numbers worked through for a shareholder.
7 Dec 2017capital raising announcement▲ GoodMajor
Placement heavily oversubscribed: firm commitments for $5M at $0.225 a share, with the extra $1M accepted. About 95% was taken up by European investors. Funds go to understanding Zone 2; shares and options due to be issued 11 December.
6 Dec 2017capital raising announcement● Neutral
Supplementary prospectus extends the offer closing date to 12 December 2017 and details the placement: 17.78M shares at $0.225 (up to 22.2M with oversubscriptions), with free options at $0.25 and 14.4M facilitator options. Shares on issue were 516.1M.
What it means for a shareholder
17.8m new shares at $0.225 to raise about $4.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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6 Dec 2017capital raising announcement▲ GoodMajor
Placement launched at $0.225 a share to raise up to $4.0M, plus up to $1M in oversubscriptions, a 40% premium to the 15-day average price. Free $0.25 options attach. Funds go to expediting drilling in Zone 2 at Wolfsberg. Earlier raises were at $0.05.
29 Nov 2017capital raising announcement● Neutral
Routine cleansing prospectus offering up to 20,000 shares at $0.12 to raise $2,400, lodged to lift trading restrictions on recently issued shares. Same device used after the October placement; it is a compliance step, not a real raise.
What it means for a shareholder
20,000 new shares at $0.120 to raise about $2,400. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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29 Nov 2017price query● Neutral
ASX queried a share price rise from $0.115 to $0.15. The company said it knows of no undisclosed information and pointed to its investor presentation, the Vienna and Frankfurt listings and European trading as likely explanations.
23 Nov 2017investor presentation● Neutral
Presentation for the Mines and Money London event, Vienna Stock Exchange reception and Vienna/Berlin roadshow from 27 November to 1 December. Repeats the November presentation; no new figures identified.
21 Nov 2017contract award● Neutral
All PFS consultants now appointed: DRA leads, SRK mine design, Dorfner more testwork, Benchmark and Orykton on markets. SRK will recommend drilling to upgrade inferred resource. Kick-off held 31 Oct-2 Nov; PFS due Q1 2018.
15 Nov 2017asset acquisition disposition● Neutral
Cervantes' notice that the Paynes Find end date moves to 15 January 2018 for a further $25,000 due 28 November. Cash paid is $195,000 of $500,000. Still seeking capital to complete.
15 Nov 2017asset acquisition disposition● Neutral
Paynes Find sale end date extended to 15 January 2018 for $25,000 due by 28 November. $195,000 of the $500,000 cash received, plus 25M CVS shares on completion. Fourth extension.
7 Nov 2017investor presentation● Neutral
November corporate presentation on the Wolfsberg project, based on previous announcements. No new figures identified.
20 Oct 2017director officer appointment● Neutral
Stefan Müller, a Frankfurt-based financial markets consultant, joins as independent non-executive director; Paul Lloyd resigns. Company says Müller helped achieve the Vienna listing and brings German-speaking market experience.
19 Oct 2017admin correction● Neutral
ASX-requested addendum confirming the US$95M pre-tax NPV10 quoted on 18 October is the April 2017 scoping figure and its assumptions are unchanged. No new information.
18 Oct 2017asset acquisition disposition● Neutral
Cervantes' own notice of the extension to 28 November with a $25,000 payment. It is still in talks on a capital raising needed to complete the purchase. Duplicates the company's announcement.
18 Oct 2017contract award▲ GoodMajor
DRA Global appointed to complete the Wolfsberg pre-feasibility study, now expected in Q1 2018, funded by the recent raise. Earlier plan was PFS in Q3 2017. SRK keeps responsibility for mine design; scoping NPV10 remains US$95M.
18 Oct 2017asset acquisition disposition● Neutral
Paynes Find sale end date extended again, to 28 November 2017, for a $25,000 payment from Cervantes by 20 October. Price unchanged: $500k cash ($170k received) plus 25M CVS shares. Third extension.
17 Oct 2017capital raising announcement● Neutral
Second and final placement tranche: 13.9M shares at $0.05 raised $695,000, plus 500,000 shares settling $25,000 of debts. Completes the October placement begun on 10 October; this tranche diluted holders by 2.94%.
17 Oct 2017other● Neutral
Cleansing prospectus offer closed, with 20,000 shares to be issued. Administrative notice closing out the prospectus lodged on 12 October for the placement shares.
13 Oct 2017capital raising announcement● Neutral
First tranche of October placement completed: 28.75M shares at $0.05 raised $1,437,500, plus 2.83M shares issued to settle $141,500 owed. Funds are still arriving for the remainder. Total dilution from this tranche is 6.90%.
12 Oct 2017other● Neutral
Cleansing prospectus for an offer of 20,000 shares at $0.05 to raise $1,000, lodged only to remove resale restrictions on shares issued in the placement. Administrative; no meaningful funds raised.
10 Oct 2017capital raising announcement▲ GoodMajor
Placement of up to $2 million at $0.05 per share, mainly to European sophisticated investors, to fund finishing the Wolfsberg pre-feasibility study. Not underwritten. Priced above the June 2017 placement at $0.045.
5 Oct 2017other▲ GoodMajor
European Lithium admitted to the Vienna Stock Exchange (ticker ELI), the first Australian company to be admitted; trading expected from 9 October 2017. The company says it opens the stock to Austrian institutions and private investors previously excluded.
27 Sept 2017asset acquisition disposition● Neutral
Paynes Find sale end date pushed again, from 30 September to 16 October 2017. Cash received now $170,000 of $500,000, plus 25M CVS shares on completion. Second extension of the sale.
27 Sept 2017asset acquisition disposition● Neutral
Cervantes' notice of the extension to 16 October with a further $100,000 paid, taking cash to $170,000. It is still negotiating a capital raising to complete the purchase. Mostly duplicates the company's announcement.
19 Sept 2017investor presentation● Neutral
Presentation for the Chairman's roughly two-week visit to institutions and battery lithium end users in Vienna, Zurich, Munich, Frankfurt and Berlin. Based on prior announcements; no new figures identified.
5 Sept 2017annual report● Neutral
Annual report to 30 June 2017 shows a net loss of $8,008,363, against a $19.1M profit in 2016 that came from intercompany loan forgiveness. Recaps the resource increase and the suspension and reinstatement events.
5 Sept 2017other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report. Administrative filing with no new information.
25 Aug 2017security holder rights change● Neutral
172,406,363 shares held under voluntary escrow will be released on 9 September 2017. Administrative notice; the text does not say what holders will do.
15 Aug 2017asset acquisition disposition● Neutral
Paynes Find sale end date extended to 30 September 2017 in return for $100,000 from Cervantes by 30 August. Company says all conditions precedent are satisfied. Sale price unchanged: $500k cash ($70k received) plus 25M CVS shares.
15 Aug 2017asset acquisition disposition● Neutral
Cervantes' own notice of the Paynes Find extension to 30 September for $100,000. Adds that it is in talks with parties on a capital raising. Largely duplicates the company's announcement.
14 Aug 2017material agreement▼ Bad
Shandong RuiFu off-take deadline extended by 60 days from 15 August 2017 to agree a formal deal. Chairman says this lets the company explore other options that have arisen. Delays the formal agreement due mid August.
