Each one in plain English, with the numbers worked through for a shareholder.
17 Feb 2020asset acquisition disposition▲ Good
Auteco staked about 130 km2 of vacant ground next to Pickle Crow, lifting its Ontario landholding to over 320 km2 (almost 70% larger). First Mining holds a right of first refusal and may fold the new ground into the earn-in.
28 Jan 2020asset acquisition disposition▲ GoodMajor
Auteco signed a binding term sheet to earn up to 80% of the Pickle Crow gold project in Ontario, Canada, from First Mining (historic 1.5Moz at 16 g/t). It also raised ~$1.2M at $0.008 per share, and Ray Shorrocks became Executive Chairman, Steve Parsons joined the board. Formal agreement due within 45 days.
28 Nov 2019security holder rights change● Neutral
Shareholders adopted a new company constitution at the AGM on 28 November 2019, effective that day. It includes a proportional takeover approval clause. Administrative; the text does not describe specific changes from the old one.
14 Oct 2019drilling result▲ GoodMajor
Maiden six-hole, 1,163m program at Limestone Well hit shallow vanadium-titanium over 8km of strike, e.g. 116m at 0.36% V2O5 and 11.0% TiO2 to end of hole. Mineralisation is open; size evaluation under way. Resolves the drilling thread positively.
14 Oct 2019joint venture update▲ Good
Mithril reports Auteco's maiden drilling hit broad shallow vanadium-titanium, e.g. 72m at 0.46% V2O5 and 8.6% TiO2. Auteco will keep funding to spend $1.5M by August 2021 to earn 60%. Repeats Auteco's own release of the same day.
1 Oct 2019admin correction● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, pointing to the governance statement on the website. Administrative filing with no new information.
1 Oct 2019annual report● Neutral
Annual report for year to 30 June 2019. Board is Sam Brooks (executive), Michael Naylor and Ian Gordon (non-executive); the audit committee was dissolved. Largely restates known events; no new figures visible in the text.
9 Aug 2019drilling spud▲ GoodMajor
Maiden reverse circulation drilling has started at Limestone Well, up to 6 holes (~900m) next to Neometals' Barrambie deposit. Auteco can earn up to 80% from Mithril by spending $2.5M over 5 years. It follows the planned June/July drilling.
9 Aug 2019joint venture update● Neutral
Partner Mithril confirms drilling has started at Limestone Well, up to 6 holes (900m), fully funded by Auteco. Repeats Auteco's announcement of the same day from the partner's side; no new information.
13 May 2019admin correction● Neutral
Share registry (Computershare) location changed to Level 11, 172 St Georges Terrace, Perth. Administrative notice with no impact on shareholders' holdings.
1 May 2019director officer appointment● Neutral
Company Secretary Kaitlin Smith resigned and Nicholas Katris, a chartered accountant with over 12 years' experience, was appointed. Administrative change with no stated effect on projects.
14 Mar 2019half year report● Neutral
Half-year to 31 December 2018 shows a net loss of $306,496, versus $358,780 a year earlier. Restates the board changes, the $360,000 placement, the Limestone Well farm-in and that the Moolyella option will not be extended.
11 Feb 2019capital raising announcement▲ GoodMajor
Auteco has commitments for a $0.5M placement of 100m shares at $0.005 each. It needs shareholder approval, expected mid-March 2019, and would lift cash to about $0.8M. Funds are for Limestone Well and assessing new projects.
What it means for a shareholder
100m new shares at $0.005 to raise about $500,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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21 Jan 2019director officer appointment● Neutral
Non-executive director Paul Payne resigned effective 18 January 2019. The board is now Sam Brooks (executive), with Michael Naylor and Ian Gordon as non-executives.
30 Nov 2018capital raising announcement● NeutralMajor
Auteco placed 180m shares to new investors to raise $360,000 (stated as 0.002 cents a share, which does not match the $360,000 total; the figure is likely 0.2 cents, an inference). Sam Brooks joins as executive director and Michael Naylor as non-executive director. Chairman Glenn Davis steps down and Ian Gordon becomes non-executive.
What it means for a shareholder
180m new shares at about $0.002 to raise about $360,000. 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.
27 Nov 2018other● Neutral
Company name changed from Monax Mining to Auteco Minerals, approved at the 31 October AGM. ASX code changes from MOX to AUT on 27 November 2018. Registered office remains Adelaide, with a new exploration office in West Perth.
15 Nov 2018drilling scheduled▲ Good
Limestone Well soil sampling found anomalous vanadium and titanium (peak 470ppm vanadium, 1.4% titanium), and ground magnetics found a magnetic body matching the soil anomaly. Six RC holes of about 150m are planned once a rig is available.
31 Oct 2018investor presentation● Neutral
AGM presentation: 722,464,650 shares, share price $0.002, market cap $1.4M, cash $0.2M at 30 September. Limestone Well drilling is expected November or December 2018. Mostly restates known projects.
28 Sept 2018admin correction● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, pointing to the governance statement on the company website. Administrative filing with no new information for shareholders.
7 Sept 2018annual report● Neutral
Annual financial report for the year to 30 June 2018, with directors' report and board details (Glenn Davis chairman since 17 April 2018, Ian Gordon MD, Paul Payne director). The visible text gives no new financial figures; it largely repeats known events.
20 Aug 2018farm in farm out agreement▲ GoodMajor
Monax agreed to farm in to Mithril's two Limestone Well vanadium/titanium tenements near Meekatharra, WA, next to Neometals' Barrambie deposit. It can earn 60% by spending $1.5m over three years, and up to 80% for $2.5m over five years. Minimum first-year spend is $150,000.
20 Aug 2018farm in farm out agreement● Neutral
Mithril, the tenement holder, confirms the same Limestone Well farm-in: Monax can earn up to 80% by spending $2.5M over 5 years. Mithril says this lets it stay focused on its Kurnalpi nickel and Billy Hills zinc projects. Duplicate of Monax's own release.
25 June 2018farm in farm out completion▼ BadMajor
Monax withdrew from the Western Queen earn-in with Ramelius, ending the project it entered in September 2017. Recent drilling downgraded the chance of extending the high-grade resource, and pegmatite sampling showed too little lithium to justify more work.
12 June 2018capital raising announcement● NeutralMajor
Monax raised $184,968 from sophisticated investors via a placement of 57.8m shares at 0.32 cents each. Funds are for early Moolyella lithium exploration and to review and acquire new battery metals projects.
23 May 2018asset acquisition disposition● NeutralMajor
Monax took an option to acquire 90% of the Moolyella lithium, tin and tantalum licence (90km2) in the Pilbara. It pays $18,000 now; exercise costs $50,000 plus 15m shares. Sampling is planned for June quarter, with drilling possible in September quarter.
22 May 2018listing compliance notice● Neutral
Monax answered an ASX query over its low cash: $466k at 31 March against $257k forecast outflow next quarter. It says it can continue operating and still holds its full Listing Rule 7.1A placement capacity to raise funds if needed.
8 May 2018drilling result▼ BadMajor
The deep diamond hole below the Western Queen pit (MXDD006, 448m) hit the expected zone but returned no significant assays. Monax will review further gold work and is now focusing on acquiring a battery metals project.
27 Mar 2018drilling scheduled● Neutral
All approvals received for Western Queen drilling: one diamond hole below the pit and two RC holes to the north, finishing by mid-April. Field visits to two Murchison lithium prospects found no spodumene and pegmatites too limited, so no further work there.
20 Mar 2018director officer appointment▼ BadMajor
Chairman Robert Kennedy has died. He was a director since 2004 and founding chairman since the 2005 listing. The board will need a new chair; the text gives no further impact on operations.
20 Mar 2018director officer appointment● Neutral
Geologist Paul Payne, founding MD of Dacian Gold and the company's resource consultant, joined the board as non-executive director to maintain a quorum after the chairman's death. An interim chairman is to be elected at the next board meeting.
