Each one in plain English, with the numbers worked through for a shareholder.
29 Mar 2018drilling result▲ Good
Zone 2 drilling finished 27 March 2018: five holes, 1,329m, all hitting pegmatite, one 10.0m true width (widest in Zone 1 was 5.5m). Assays due mid-April. PFS due this week; 28-hole Zone 1 programme (11,330m total) awaits permits.
22 Mar 2018admin correction● Neutral
Company confirms the 20 March 2018 cleansing prospectus offer has closed and no shares will be issued under it. Administrative only.
20 Mar 2018capital raising announcement● Neutral
Routine cleansing prospectus offering up to 20,000 shares at $0.24 to raise $4,800, to remove trading restrictions on recently issued shares. Compliance step, not a real raise; the text provided does not say which issue prompted it.
What it means for a shareholder
20,000 new shares at $0.240 to raise about $4,800. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
20 Feb 2018admin correction● Neutral
ASX-requested addendum confirming production target information on slide 17 of the February presentation is from the 27 April 2017 study and its assumptions still apply. No new information.
19 Feb 2018investor presentation● Neutral
February 2018 corporate presentation for a European roadshow by the Chairman and Director Stefan Müller. Based on previous announcements; no new figures identified.
5 Feb 2018drilling spud▲ GoodMajor
Zone 2 drilling restarts 5 February 2018, funded by the December raise: six remaining holes (1,250m) due by early April. Earlier funding shortage had stopped it after three of nine holes. Aim is to lift measured and indicated resources; PFS still due end Q1.
30 Jan 2018half year report● Neutral
Half-year report to 31 December 2017 largely repeats the quarterly's corporate events: October and December placements, new director, Vienna listing and new constitution. The financial figures were not in the text provided.
30 Jan 2018quarterly activities report▲ Good
December quarter report: two placements raised $7.133M before costs, plus $1.243M from option exercises. Paynes Find sale completed, with 25M Cervantes shares (7%) received. PFS due by end of Q1 2018; a further drilling programme is being developed with SRK.
21 Dec 2017asset acquisition disposition▲ GoodMajor
Cervantes announces settlement of the Paynes Find gold purchase, with 25M Cervantes shares to be issued to European Lithium. Remaining cash is rescheduled: $25k by 15 Jan, $25k by 28 Feb, $230k by 31 Mar 2018. $220k paid so far.
21 Dec 2017asset acquisition disposition▲ GoodMajor
Paynes Find gold sale to Cervantes settled after several extensions. Consideration is $500k cash ($220k received) plus 25M Cervantes shares at 2c. Remaining cash payments run to 31 March 2018. Chair says focus is the Wolfsberg PFS and Zone 2.
19 Dec 2017admin correction● Neutral
Company confirms the 29 November cleansing prospectus offer has closed and no shares will be issued under it. Administrative only.
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.
Create a free account to see this worked out for your own holding.
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 2017agm notice● Neutral
New company constitution adopted by special resolution at the 29 November 2017 AGM. Administrative; the text provided does not describe the key changes.
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.
Create a free account to see this worked out for your own holding.
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.
23 Oct 2017quarterly activities report● Neutral
September quarter report: PFS contract awarded for Q1 2018, hydromet testwork done, Vienna listing and a placement of 45.98M shares at $0.05 ($2.13M cash). Exploration team stood down; drilling restarts spring 2018 subject to funding. Shandong off-take talks continue alongside European options.
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.
