16 Apr 2020director officer appointment● Neutral
Executive Chairman Ray Shorrocks bought 500,000 shares on market on 9 April 2020 for $13,000, raising his indirect holding to 26.5 million shares. Routine director interest notice.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 Apr 2020director officer appointment● Neutral
Director Steve Parsons bought a further 3 million shares on market on 8 April 2020 for about $76,000, taking his indirect holding to 100,030,340 shares. Routine director interest notice.
14 Apr 2020investor presentation● Neutral
April 2020 investor presentation on the Pickle Crow gold project, with board and management profiles. Appears to repeat the March roadshow material; no new figures visible in the text.
6 Apr 2020director officer appointment● Neutral
Director Steve Parsons bought about 2.78 million shares on market on 1-3 April 2020 for roughly $54,000, lifting his indirect holding to 97,030,340 shares. Routine director interest notice.
26 Mar 2020drilling scheduled▲ Good
Auteco identified multiple shallow drill targets at Pickle Crow across four shear zones and plans a maiden JORC resource in early Q2 2020. A 5,000m diamond drill program is planned for late May. Cash was ~$1.2M at 25 March 2020; company expects minimal COVID-19 impact.
13 Mar 2020material agreement▲ GoodMajor
Formal documents completed with First Mining to earn up to 80% of PC Gold Inc., owner of Pickle Crow, via an incorporated joint venture. It resolves the 45-day term sheet step; a JORC resource is expected in Q2 2020 and drilling in Q2.
9 Mar 2020investor presentation● Neutral
North American roadshow presentation promoting the Pickle Crow gold project and 320 km2 landholding. Repeats known facts from the January and February announcements; no new figures visible in the text.
9 Mar 2020half year report● Neutral
Half year to 31 December 2019: net loss $460,445 and cash $354,185. Reports Limestone Well drilling, the Pickle Crow deal and board changes, including Ian Gordon's resignation on 28 January 2020. Mostly restates known events.
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.
24 Jan 2020quarterly activities report● Neutral
December quarter: cash fell to $0.35m from $0.61m. Only limited mapping and drill-site rehabilitation occurred at Limestone Well, with technical evaluation continuing. The company says it is still reviewing new projects, a thread resolved days later by the Pickle Crow deal.
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.
28 Nov 2019agm notice● Neutral
All 11 resolutions at the 28 November 2019 AGM passed, including the remuneration report, director elections for Gordon, Naylor and Brooks, an equity incentive plan, option ratifications and a 10% placement capacity.
29 Oct 2019quarterly activities report● Neutral
September quarter: cash $0.61m (from $0.73m). Restates the Limestone Well drill results and that Auteco elected to keep funding the Mithril JV. Technical evaluation of size and scale continues; new project search ongoing.
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.
29 July 2019quarterly activities report● Neutral
June quarter: cash rose to $0.73m from $0.34m. Approval to work at Limestone Well was received, with maiden drilling expected next quarter. Canaccord Genuity was appointed corporate adviser on 7 May 2019. Search for new projects continues.
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.
30 Apr 2019quarterly activities report● Neutral
March quarter: cash $0.34m. The $500,000 placement (100m shares) was received in April. Drill design for Limestone Well is complete, with a contractor sourced and drilling scheduled for June/July 2019. The company is still reviewing new 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.
Create a free account to see this worked out for your own holding.
31 Jan 2019quarterly activities report● Neutral
December quarter: cash $0.37M after the $360,000 placement. Auteco told the Moolyella holder it will not extend the option beyond 31 December 2018, ending that project. A limited Limestone Well drill program is planned for Q1/Q2 2019.
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.