Each one in plain English, with the numbers worked through for a shareholder.
4 Mar 2011drilling spud▲ Good
RC/aircore drilling began at Waddikee, about 3,600m testing the southern Jamieson Tank extension and four regional prospects. Two diamond holes are planned for mid April. OM (Manganese) is funding the earn-in. This is the early-2011 drilling previously flagged.
11 Feb 2011asset acquisition disposition▲ GoodMajor
Monax will buy two of the five Pretender Creek bauxite tenements (EPM 16963 and 17005) from Delminco for $50,000, exercising part of its January 2010 option. Initial sampling showed up to 44% Al2O3. Drilling is planned after the 2011 wet season.
9 Feb 2011drilling progress report▲ Good
Punt Hill gravity survey restarted and is about 45% complete, due late February to early March, for 14,650 stations in total. Age dating ties the copper-gold mineralisation to the same ~1580 million-year-old event as Olympic Dam. Supports the geological case; no new drilling results.
7 Feb 2011director officer appointment● Neutral
Ewan Vickery appointed alternate director for Reg Nelson from 7 February 2011. He holds 55,300 shares through his super fund. Minor board administration, following Ian Witton's similar appointment for Glenn Davis.
1 Feb 2011director officer appointment● Neutral
Ian Witton appointed alternate director for Glenn Davis from 28 January 2011. He holds 148,923 shares via a super fund. Minor board administration.
28 Jan 2011quarterly activities report● Neutral
December 2010 quarter: the Punt Hill gravity survey (8,050 stations) is due for completion in late February, with drilling planned for the second quarter of 2011. Cash was $4.6m. Monax holds 23.93% of Marmota. No new results.
19 Jan 2011material agreement▲ Good
Monax renewed for 12 months its option over four Percyvale gold mining leases in northern Queensland. Earlier sampling reported gold up to 608 g/t. IP surveys and drilling are planned from April 2011. This resolves the unseen option terms thread.
21 Dec 2010other● Neutral
Securities trading policy document setting out when directors and employees may trade shares. Administrative; no new business or financial information.
22 Nov 2010asset acquisition disposition● NeutralMajor
Monax will withdraw from the Callabonna bauxite option (three Cape York tenements) and focus on Pretender Creek. Exploration is planned for April-May 2011 after the wet season. This narrows the Cape York portfolio built earlier.
22 Nov 2010material agreement termination● Neutral
Callabonna confirms Monax will not take up its option over three Cape York bauxite applications (EPMAs 17835, 17836, 17843). This is the counterparty's confirmation of Monax's withdrawal announced the same day.
17 Nov 2010investor presentation● Neutral
AGM presentation repeats known project updates. Cash was $4.66m at 30 September 2010, with 148,053,668 shares and a 7.5c share price (market value $11.1m). Punt Hill drilling is planned for April-June 2011. No new results.
17 Nov 2010regulatory community update● Neutral
Media release on the AGM repeats the Punt Hill plan: first drilling as early as April 2011, with a possible US$10m success fee. Also notes bauxite RC drilling in April-May and the $590k placement for it. Largely restates known information.
17 Nov 2010agm notice● Neutral
Chairman's AGM address restates the Antofagasta farm-in and says Monax spent about $5m on Punt Hill. OMM spent $476k at Waddikee and committed a further $440k. Marmota earned 50% of Melton. Drilling is planned for April 2011; Percyvale awaits a Queensland decision.
17 Nov 2010agm notice● Neutral
All AGM resolutions passed: remuneration report, re-election of Reg Nelson, ratification of the 5.9m-share April placement, and retention rights of 1.5m for Gary Ferris and 600k for Virginia Suttell. Routine administrative outcome.
8 Nov 2010drilling scheduled▲ Good
Gravity survey began at Punt Hill, the first phase of the Antofagasta farm-in, adding 8,035 stations to 6,800 existing. Drilling is planned for April 2011 once approvals are granted. This is the first exploration under the deal.
29 Oct 2010quarterly activities report● Neutral
September 2010 quarter: Antofagasta farm-in on Punt Hill signed (US$1.5m minimum spend in two years), Yeltacowie granted, and a gravity survey of over 8,000 stations planned for late October to early December. Waddikee auger results encouraging, drilling planned early 2011. Mostly repeats earlier news.
6 Sept 2010farm in farm out agreement▲ Good
Antofagasta must spend at least US$1.5m on Punt Hill in the first two years, so exploration is assured. Yeltacowie tenement EL 4548 is granted for two years; drilling planned late 2010 or early 2011.
2 Sept 2010annual report● Neutral
Annual financial report for the year to 30 June 2010, with directors' report and statements. The visible text shows only board biographies and shareholdings; no financial figures are readable here.
1 Sept 2010farm in farm out agreement▲ GoodMajor
Monax signed an option with Antofagasta PLC over Punt Hill: Antofagasta can earn 51% by spending US$4m over 4 years, then a further 19% for US$5m more, plus a US$10m success fee on a development decision. This delivers the JV long sought.
13 Aug 2010regulatory community update▲ GoodMajor
Five Cape York bauxite tenements (Pretender Creek, from the Delminco option) are granted, about 160km southeast of Aurukun, with native title agreements in place. Exploration starts in weeks; two more tenements still pending. This resolves the earlier grant wait.
3 Aug 2010quarterly activities report● Neutral
Revised quarterly cash report: cash fell to $4.808m at 30 June 2010 from $5.324m. Planned outflow next quarter is $950k. No debt. Several Marmota-linked tenements (e.g. EL 3355, 3356, 3359) relinquished.
30 July 2010quarterly activities report● Neutral
June 2010 quarter: Melton drilling completed (seven holes), Waddikee drilling done, Yeltacowie application (ELA 44/10) lodged beside Punt Hill, Cape York option signed, and a Kangaroo Island JV partner sought. Mt Boothby manganese tenement granted. Repeats earlier news with no new major item.
28 July 2010drilling result● Neutral
Marmota reports Melton Miranda hole MIRDD04 hit up to 3m @ 0.26% Cu from 487m, with MIRDD01 at 21m @ 0.11% Cu. Holes 02 and 03 gave lower copper. Low-grade copper halo only; downhole geophysics and follow-up drilling planned for early 2011.
19 July 2010other● NeutralMajor
Monax is narrowing to Punt Hill copper-gold and Cape York bauxite for the rest of 2010, relinquishing non-core tenements. Waddikee and Melton wait until after harvest (December). Punt Hill JV interest is received, and Cape York grants are expected by end of August.
16 July 2010drilling result● Neutral
Final Waddikee results: best new manganese 7m @ 17.1% and 5m @ 19.2%, iron up to 6m @ 37.2% Fe. Monax is building a 3D model; regional auger (435 samples) is finished, results due in 4-6 weeks. OMM still must spend $2m to earn 60%.
24 June 2010drilling result▲ Good
Initial Waddikee RC results confirm a 5km manganese strike at Jamieson Tank, best 10m @ 17.5% Mn (incl. 2m @ 26.7%), plus iron up to 20m @ 32.1% Fe. Grades are modest; remaining assays due in 2-3 weeks, matching the late-July timing flagged earlier.
1 June 2010drilling result● NeutralMajor
Marmota reports first Melton results: Miranda hole MIRDD01 hit 21m @ 0.11% Cu from 451m, including 3m @ 0.42% Cu. Two other holes show visible sulphides, with assays pending. This is weak but anomalous copper; Monax holds 50%.
6 May 2010drilling spud▲ GoodMajor
RC drilling began at Waddikee's Jamieson Tank: about 87 holes for 5,200m, testing the auger results. OMM must fund $2m over four years to earn 60%. Drilling should take 5-6 weeks, with results due late July 2010.
30 Apr 2010quarterly activities report● Neutral
Quarter to 31 March 2010: Melton drilling began, Waddikee RC drilling is set for early May (4 May), and Kangaroo Island IP survey is complete with data under assessment. Monax added Cape York bauxite and Percyvale gold options. Punt Hill drilling is now planned mid-2010.
15 Apr 2010capital raising announcement▲ Good
Strong demand lifted the 10-cent placement from 5.5m to 5.9m shares, raising $590,000 instead of $550,000. Funds remain for exploring the Cape York bauxite tenements.
What it means for a shareholder
5.9m new shares at about $0.100 to raise about $590,000. 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.
