Each one in plain English, with the numbers worked through for a shareholder.
22 Aug 2014joint venture update▲ GoodMajor
Monax's alliance with Antofagasta signs an MOU for a second Designated Project: three Musgrave tenements covering 2,195km2. Alliance can earn 51% by spending US$4m within three years of first grant, then up to 80% with a further US$5m. Applications are not yet granted.
21 Aug 2014investor presentation● Neutral
SACOME breakfast presentation repeats known projects. Shows 214.1m shares, $2.1m cash at 31 July and a share price of 1.8c. Parndana drilling began late July; Punt Hill and Millers Creek drilling are now planned for September. No new results.
31 July 2014drilling spud▲ GoodMajor
Drilling has started at Parndana on Kangaroo Island, up to three holes over about six weeks, testing the gravity and chargeable anomaly. Monax also reports firm commitments for the rights issue shortfall and receipt of the final $290,000 for Waddikee. Phar Lap heritage clearance is complete.
25 July 2014capital raising announcement● NeutralMajor
The rights issue closed 22 July with applications for 28,158,294 shares, about $0.591m, against a maximum of 41,998,987. That leaves a shortfall of 14,656,421 shares, which the board may place within three months. The raise fell short of the ~$0.9m target.
23 July 2014asset acquisition disposition▲ GoodMajor
Archer says the Minister consented to transfer of Waddikee (EL4662) from Monax, completing the $300,000 sale. This resolves the Ministerial consent condition. This is Archer's announcement; it adds nothing new on Monax's side.
21 July 2014price query● Neutral
ASX queried the share price rise from 2.1c to a high of 3.3c over 16-18 July. Monax said it knows of no unannounced information explaining it and confirmed it is complying with the listing rules.
21 July 2014quarterly activities report● Neutral
June quarter report: cash $1.2m at 30 June, $340,000 spent on exploration, with about $736,000 raised from the Antofagasta placement and Waddikee sale. Parndana drilling is planned this quarter. Directors say more capital is needed, so the rights issue is under way.
9 July 2014investor presentation● Neutral
July 2014 investor presentation restates known projects and plans: Parndana drilling, Antofagasta-funded Punt Hill and Millers Creek drilling in late August/September. Shows 171.3m shares, $1.3m cash (30 May) and a $3.6m market cap. No new results.
9 July 2014capital raising announcement● Neutral
Monax confirms the rights issue prospectus was posted on 8 July 2014 and attaches it. The 1-for-4 offer is at 2.1c to raise about $899,102, repeating known terms. The prospectus lists going concern among key risks.
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.
28 Apr 2014quarterly activities report● Neutral
March quarter: cash $850k, down from $1.3m, with $360k spent on exploration. Phar Lap now 100% Monax with access deed received, and Oliffes Dam copper-gold target identified at Millers Creek. Kangaroo Island added as a project. Mostly repeats known items.
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.
