Each one in plain English, with the numbers worked through for a shareholder.
8 July 2014drilling scheduled▲ GoodMajor
Detailed gravity at Parndana puts the dense, chargeable target at 100-200m depth, shallower than the ~300m first reported. Drilling approval is received, with three holes planned from early August 2014. A smaller second anomaly lies 400m northeast.
1 July 2014drilling result▲ GoodMajor
Parndana's induced polarisation survey found a prominent chargeable body matching the earlier 1km-long dense gravity target at about 300m depth. This follows the March gravity result and lowers exploration risk before drilling; a finer gravity survey is now underway.
30 June 2014capital raising announcement● Neutral
Shareholder letter restating the 1-for-4 rights issue at 2.1c, a 25% discount, to raise up to about $0.9m. Prospectus mailing and opening 8 July, closing 22 July. No new terms.
27 June 2014capital raising announcement● Neutral
Letter to optionholders on the 1-for-4 rights issue at 2.1c. Options must be exercised by 3 July 2014 to participate. Administrative; repeats known terms.
27 June 2014capital raising announcement● Neutral
Prospectus for the 1-for-4 entitlement issue at 2.1c, aiming to raise about $899,102 with a free option per two new shares. Lists going concern risk among key risks. Repeats the announced terms.
25 June 2014drilling progress report▲ Good
Gravity surveys began at Punt Hill's Bosworth and Groundhog areas. The Technical Committee approved drill holes at Groundhog and Bottle Hill, with drilling planned next quarter. Antofagasta holds 51% and can reach 70% with a further US$5m.
23 June 2014other● Neutral
Monax released its revised share trading policy, effective 16 June 2014, as required by the listing rules. Administrative only, with no news on operations or finances.
20 June 2014capital raising announcement● NeutralMajor
Monax launches a 1-for-4 entitlement issue at 2.1c to raise up to about $0.9m, with a free option per two shares (exercisable at 4.2c to July 2015). Funds go to drilling the Parndana anomaly, where early IP results show a chargeable body matching the gravity target.
19 June 2014asset acquisition disposition● Neutral
Archer finished due diligence and will buy Waddikee for $300,000 in total ($290,000 more, after a $10,000 initial payment) once Ministerial consent allows transfer. Gives the sale price; consent is still outstanding.
19 June 2014asset acquisition disposition▲ GoodMajor
Monax says Archer has satisfied the due diligence condition for buying Waddikee for $300,000. Ministerial consent is still needed to complete. Moves the sale forward and provides working capital.
10 June 2014farm in farm out agreement▲ GoodMajor
Monax signed an MOU with an Antofagasta subsidiary for Phar Lap. Antofagasta funds early work including a gravity survey (planned July-August 2014) and may then farm in to earn 70% by spending US$2m within 3 years.
4 June 2014admin correction● Neutral
Routine compliance notice confirming the 17,110,346 shares were issued on 3 June 2014 at the placement price, completing the Antofagasta placement. No new information.
2 June 2014capital raising announcement▲ GoodMajor
Monax is placing 17,110,346 shares at 2.55c to Antofagasta's subsidiary, raising $436,314 and making it the largest shareholder. Funds go to the Parndana project on Kangaroo Island and working capital, with an IP survey planned within three weeks.
What it means for a shareholder
17.1m new shares at $0.0255 to raise about $436,314. 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.
21 May 2014asset acquisition disposition▲ GoodMajor
Monax signed a conditional deal to sell Waddikee (EL 4662) to Archer, following its earlier plan to sell or find a partner. The sale depends on due diligence and Ministerial consent; Monax says it may provide capital at a time of reduced access to capital.
21 May 2014asset acquisition disposition● Neutral
Archer Exploration signed a conditional agreement to buy Monax's Waddikee graphite tenement (EL4662), subject to 30-day due diligence and Ministerial consent. Archer's side of the sale; the price is not stated here.
16 May 2014farm in farm out agreement▲ GoodMajor
Alliance intends to enter a farm-in agreement with Maximus for Millers Creek, replacing the earlier MoU, after gravity and magnetic surveys outlined a high-priority target at Oliffes Dam. A heritage survey is planned for late June to early July, then a drill hole once the agreement is signed.
16 May 2014farm in farm out agreement▲ Good
Maximus (owner of the Millers Creek tenements) confirms Monax's Alliance intends to farm in, earning 80% by spending US$3m over 3 years, including US$100k to Maximus. Agreement not yet signed; a drilling program is expected within the next quarter once documents are finalised.
28 Apr 2014farm in farm out completion▲ GoodMajor
Antofagasta has earned 51% of Punt Hill after funding US$4m, forming a 51:49 JV with Monax. It can reach 70% by spending a further US$5m over four years. Gravity surveys at Groundhog and Bosworth come first, with drilling in the second half of 2014.
7 Apr 2014drilling progress report● Neutral
Helicopter magnetic survey at Millers Creek completed. Final data is due within seven days, then about a week of modelling before the Technical Committee decides on drilling. No new results.
27 Mar 2014drilling result▲ Good
A gravity survey on Monax's 100%-owned Parndana project on Kangaroo Island found a 1km-long dense body about 300m deep, about 1km from the Bonaventura zinc-lead prospect. An induced polarisation survey is planned to test whether it is mineralisation. It is a target only, not yet drilled.
17 Mar 2014drilling result▲ Good
Modelling of the Millers Creek gravity data outlined three priority copper-gold targets plus lesser prospects. A helicopter magnetic survey follows within two weeks to help place drill holes. These are targets only; no drilling decision yet.
12 Mar 2014half year report▼ Bad
Half-year to 31 December 2013 shows a net loss of $6,658,533, against a profit of $1,911,837 a year earlier. The text excerpt gives no cause for the swing. Restates the Wilclo South resource and the Antofagasta farm-in, with US$3.95m spent so far.
10 Feb 2014drilling progress report● Neutral
Millers Creek gravity survey finished ahead of schedule, with 2,616 new stations over four areas. Final data is due end of February and modelling by mid-March. No results yet.
4 Feb 2014drilling progress report● Neutral
Infill gravity survey started at Millers Creek, funded by Antofagasta. A closer review cut the seven earlier targets to four areas holding six gravity targets. Modelling is due by mid-March, and any drill decision rests with the Technical Committee.
30 Jan 2014asset acquisition disposition▲ GoodMajor
Monax signed a deal with Marmota to take full ownership of the Phar Lap copper-gold project (including 75% of its uranium rights, so Monax now holds 100%). In return it gave up its 50% of Ambrosia, Mulyungarie rights and half its Melton JV interest. Drilling targeted mid to late 2014, subject to access and funding.
30 Jan 2014asset acquisition disposition● Neutral
Marmota's side of the Phar Lap swap: it gains 100% of Ambrosia and Mulyungarie and lifts Melton to 75%, with Monax reduced to 25%. Confirms the Monax release; no new terms for Monax.
20 Dec 2013farm in farm out agreement▲ GoodMajor
Antofagasta approved further Punt Hill drilling (starting Q1 2014), which triggers Phase 2 to lift its stake from 51% to 70% for a further US$5m. Phase 2 extended from two to four years, scoping study dropped; success fee US$10m. Spent US$3.9m so far.
9 Dec 2013joint venture update● Neutral
Maximus announces seven gravity targets on its Billa Kalina tenements, mirroring Monax's Millers Creek release. Alliance pays all exploration costs during the MoU period, and infill gravity is planned from January 2014 pending approvals.
9 Dec 2013drilling result▲ Good
New government gravity data outlines up to seven potential copper-gold targets at the Millers Creek project (3,166km2). Closer-spaced gravity surveys are planned from January 2014 once approvals arrive. These are targets only, with no drilling yet.
28 Nov 2013investor presentation● Neutral
Conference presentation largely repeating known facts. It says the Technical Committee approved three Punt Hill drill sites, pending Antofagasta funding approval. Drilling is planned for 2014 at Algebuckina, Reedy Lagoon and Phar Lap.
