Each one in plain English, with the numbers worked through for a shareholder.
2 Oct 2007asset acquisition disposition▲ GoodMajor
Marmota Energy's IPO is set to raise up to $15m (minimum $7.5m) at 25c a share, with Monax holders getting priority for up to 20m shares. Monax would hold 25.7% if fully subscribed. Shareholder vote is 8 November 2007; an independent expert found it fair and reasonable.
2 Oct 2007asset acquisition disposition● Neutral
Media release repeating the $15m Marmota IPO terms: 60m shares at 25c, minimum $7.5m, a 25.7% Monax stake if fully subscribed, and a shareholder meeting on 8 November. No new information.
27 Sept 2007annual report● Neutral
2006-07 annual report: Punt Hill's initial program of 20 holes (about $3m, 17,590m) found IOCG systems with broad low-grade copper and zones up to 1%. Also covers Eyre Peninsula and Kangaroo Island, where an 11-hole zinc program is planned. Mostly known results.
12 Sept 2007investor presentation● Neutral
September presentation repeats the Punt Hill discovery and the review of joint venture or sale options. Shows about 56m shares (36.1m listed, 20.0m escrowed), a $27.5m market cap and $3.2m cash. No new results.
7 Sept 2007security holder rights change● Neutral
Escrow on 10 million unlisted options ($0.25 strike) and on quoted securities ends 20 September 2007. Administrative notice with no new information.
31 Aug 2007other▲ GoodMajor
Monax has received conditional, incomplete expressions of interest from several parties for its 100%-owned Punt Hill project. The board is reviewing options, possibly a joint venture or sale of some or all of it. No offer is guaranteed; advisers appointed.
20 Aug 2007drilling result▲ Good
Early Eyre Peninsula auger drilling found a 200m-wide lignite-rich palaeochannel, suggesting uranium potential, and four holes with weathered mafic rock possibly greenstone prospective for nickel and gold. Assays due in 4-6 weeks; PACE funds up to half the cost.
16 Aug 2007director officer appointment▲ Good
Former SA Chief Government Geophysicist Dom Calandro was appointed Managing Director of Marmota Energy, the planned uranium spin-out. Marmota is finalising its raising and listing, with over 7,000 km2 of uranium ground. Monax holders expected to get a priority offer.
13 July 2007drilling result● Neutral
The current Punt Hill drilling program is finished: GHDD5 hit altered rock with patches of bornite, and seven step-out holes were completed, all assays pending. Next is an IP geophysics trial to find high-grade zones before more drilling. Mostly repeats earlier results.
4 July 2007security holder rights change● Neutral
The 9,704,188 bonus options ($1.20, expiring 31 December 2007) became ASX-listed as MOXO on 29 June 2007. Holders receive new holding statements. Administrative; no new terms.
19 June 2007drilling progress report▲ Good
Third Groundhog step-out hole GHDD4 found a 95m zone (840-935m) of disseminated chalcopyrite and pyrite, with some bornite, assays pending. Rig moves 20 June to drill the Mattaweara target, about 10 days, in the Woomera Prohibited Area, then returns to Punt Hill.
18 June 2007capital raising announcement▲ Good
Shortfall allotment completed: 2,415,591 shares at 70c, scaled back, none to directors. Total rights issue raised $3.5m before costs, finishing the April raising alongside the $1.19m placement.
What it means for a shareholder
2.4m new shares at $0.700 to raise about $1.2m. 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.
7 June 2007drilling result● NeutralMajor
Hoary hole 2 found a roughly 25m zone with copper sulphides near the granite contact, seen as consistent with the model. Prairie Dog hole 1 assays were low-grade (best 13m @ 0.55% Cu). Hole 2 showed bornite veins. Step-out drilling and downhole IP surveys are next.
31 May 2007capital raising announcement● Neutral
Chairman's letter sent with holding statements after the rights issue allotment. Entitlement acceptances were 2,593,863 shares ($1.816m), slightly different from the 23 May figure. The shortfall of up to 2,415,591 shares is yet to be allocated.
23 May 2007capital raising announcement▲ GoodMajor
Rights issue closed oversubscribed. Existing holders took up 2,594,563 shares (51.8%), raising $1.82m. Applications for the remaining shortfall of 2,414,891 shares ($1.69m) exceeded the shares available, and directors will allocate them.
15 May 2007asset acquisition disposition● NeutralMajor
Monax is forming Marmota Energy to hold most of its uranium projects, conditional on an ASX listing around mid-2007. Monax intends to keep a significant stake and give its shareholders priority in the IPO. Hoary hole 2 drilling is progressing.
15 May 2007investor presentation● Neutral
Broker presentation repeating known Punt Hill results and the Marmota plan. Shows 50.87m shares, 21.1m options, a $0.92 share price (27 April) and a $46.8m market cap. No new results.
4 May 2007capital raising announcement● Neutral
Cover letter mailing the rights issue prospectus. A stop-press note says the last sale price on 24 April was $1.175, making the 70c issue price a 40.85% discount. No new terms.
23 Apr 2007drilling progress report▲ Good
New Punt Hill program of at least seven holes begins, funded by the placement and rights issue (up to $4.75m). Two Groundhog step-outs confirm alteration over 400m, assays pending; Woodchuck hole 2 and an angled Hoary hole are planned or underway. Mattaweara deepening is also planned.
20 Apr 2007regulatory community update▲ Good
Monax applied for more than 1,500 km2 of new uranium licences on the Gawler Craton and almost 1,300 km2 in the Curnamona Province, expanding its uranium acreage beyond its existing licences. These are applications only, not granted tenements.
19 Apr 2007capital raising announcement● Neutral
Prospectus lodged for the 1-for-10 rights issue of about 5.1m shares at 70c, raising about $3.56m. Not underwritten; directors may place any shortfall. Text is truncated; the terms match the 5 April announcement.
What it means for a shareholder
5.1m new shares at $0.700 to raise about $3.6m. 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.
19 Apr 2007security holder rights change● Neutral
Chairman's letter repeats the 70c rights issue terms, a 15.66% discount to the 83c last price. Record date 30 April, closes 18 May. Optionholders must exercise before the record date to participate. No new information.
5 Apr 2007capital raising announcement● NeutralMajor
Raising $1.19m via a placement of 1.7m shares at 70c, plus a 1-for-10 non-renounceable rights issue of up to 5,086,667 shares at 70c ($3.56m). Funds the expanded IOCGU drilling at Punt Hill and working capital. Rights issue not underwritten.
What it means for a shareholder
1.7m new shares at $0.700 to raise about $1.2m. 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.
28 Mar 2007drilling result▲ GoodMajor
Prairie Dog hole hit 195m of altered rock from 749m with copper sulphides; Hoary hit 111m of hematite breccia from 877m, read as an unmineralised core. Angled Hoary hole and a follow-up program are now underway at Punt Hill.
16 Mar 2007half year report● Neutral
Half-year accounts to 31 December 2006 show a net loss of about $39x,951 (digits garbled in text). Recaps Punt Hill drilling, Whistlepig 2 and the bonus options. No new operational news.
5 Mar 2007investor presentation● Neutral
Presentation shows 49m shares and 20.7m options on issue, with February trading at $0.60-$0.87 ($29-43m market cap). Seven of 11 regional targets tested, two alteration systems found; a 20-hole follow-up program is planned.
14 Feb 2007drilling progress report● Neutral
Punt Hill drilling resumes with Needlenose, about 900m northwest of Groundhog, followed by Prairie Dog and Marmot. The rig was upgraded over Christmas to drill deeper. A focused high-grade program follows the regional drilling.
22 Jan 2007other● Neutral
Company releases its top 20 shareholder list at 19 January 2007 after directors noted a substantial change in its makeup. Merrill Lynch nominees hold 15.31%, Havilah 10.00%; top 20 hold 65.90%. The text gives no reason for the change.
15 Jan 2007drilling result▲ GoodMajor
Groundhog assays show 126m averaging 0.4% copper from 837m, including 14m @ 1.0% Cu and 0.25 g/t gold, plus 17m @ 0.41% rare earths. Monax says it is at the margin of a breccia pipe; drilling will now target higher grades nearby.
15 Jan 2007security holder rights change● Neutral
Bonus option issue completed: 9,704,188 options issued free, $1.20 exercise, expiring 31 December 2007. 3,893,334 are restricted until 20 September 2007. Quotation from 30 June 2007 unless directors bring it forward.
