Each one in plain English, with the numbers worked through for a shareholder.
30 Oct 2009quarterly activities report● Neutral
Quarter to 30 Sept 2009: the placement and SPP raised about $2.6m, leaving 105.5m shares on issue. The OMM Waddikee farm-in, Melton's five magnetic targets and a Punt Hill gravity survey are recapped; Punt Hill and Kangaroo Island are being offered for joint venture.
9 Oct 2009capital raising announcement▲ Good
Monax allotted 24.35m SPP shares, raising $1.8m after a pro-rata scale-back of applications. This completes the raising announced on 1 October; funds are for Punt Hill, Kangaroo Island and Melton.
1 Oct 2009capital raising announcement▲ GoodMajor
The SPP was oversubscribed and closed early, raising about $1.83m, around 24.35m shares, scaled back. With the $0.79m placement, the total is about $2.6m before costs. Funds go to Punt Hill, Kangaroo Island, keeping the Melton interest, and new projects.
What it means for a shareholder
24.4m new shares at about $0.0752 to raise about $1.8m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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25 Sept 2009annual report● Neutral
Annual financial report to 30 June 2009. The visible text covers only the board: Gary Ferris is MD from 1 September, Michael Schwarz left on 31 August. Financial figures are not in the visible text.
24 Sept 2009admin correction● Neutral
Administrative notice that 10,533,532 shares were issued on 23 September 2009 in the private placement. This completes the placement announced on 17 September; no new substance.
24 Sept 2009other● Neutral
Sample Share Purchase Plan application form from the registrar, with a $0.075 price, $15,000 maximum and 2 October closing. No new substance beyond the SPP already announced.
23 Sept 2009drilling result▲ Good
A high-resolution aeromagnetic survey at Melton, the Yorke Peninsula project Marmota is earning 50% of, outlined up to five high-priority targets. Ground surveys come first, with drilling planned from December to April 2010. Monax plans to co-fund to keep its 50%.
22 Sept 2009other● Neutral
Administrative notice that the Share Purchase Plan will issue shares without a disclosure document, as required by the ASIC class order. No new substance.
21 Sept 2009investor presentation● Neutral
A Punt Hill joint venture presentation to attract a partner. It repeats known results: 22 holes drilled, best GHDD6 159m @ 0.47% Cu. This follows the earlier JV-or-sale review; no partner or deal is announced.
17 Sept 2009capital raising announcement▲ GoodMajor
Monax placed about 10.5m shares at $0.075 to raise $790,000 from Chinese and Australian sophisticated investors, lifting shares on issue to 81.18m before the SPP. Funds go to Kohinoor, Punt Hill gravity, Waddikee working capital and new opportunities.
What it means for a shareholder
10.5m new shares at $0.075 to raise about $790,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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15 Sept 2009drilling result▲ GoodMajor
Marmota reports a new uranium prospect at Mulyungarie from its 24-hole program: 18 holes showed gamma anomalies, six at 100ppm eU3O8 or more, best 256ppm. Follow-up drilling is planned for October 2009. Marmota is earning 70% of uranium rights from Monax.
4 Sept 2009investor presentation● Neutral
New MD Gary Ferris's presentation repeats known facts: 70.6m shares on issue, market value $4.9m, the SPP terms, and the Melton, Punt Hill, Waddikee and Kangaroo Island projects. It says a Punt Hill joint venture is one funding option being discussed.
1 Sept 2009capital raising announcement● NeutralMajor
Monax announced a Share Purchase Plan at $0.075 a share, up to 21.19m shares (about $1.59m), a 25% discount to the prior close. Funds go to Kohinoor drilling and Punt Hill gravity; the company is reviewing all projects to streamline spending, and Waddikee work is fee-for-service.
31 Aug 2009joint venture update● Neutral
Marmota's release: an airborne geophysical survey started on the Melton project, which it is earning 50% of from Monax. Drilling is planned from late November 2009 to February 2010, depending on harvest. No drilling results yet.
27 Aug 2009farm in farm out agreement▲ Good
OM Holdings' own release of the Waddikee farm-in, matching Monax's terms: $2m over four years for 60% of ferrous minerals, subject to conditions precedent. It adds that OMM would manage any later joint venture. Duplicates ref 11 from the partner's side.
27 Aug 2009farm in farm out agreement▲ Good
Monax's own release of the Waddikee farm-in: OM (Manganese) can earn 60% of ferrous minerals for $2m over four years, minimum $250,000 in year one, subject to due diligence. Repeats the partner's announcements already seen; Monax's chairman cites up to 42.5% Mn at 88% recovery.
27 Aug 2009farm in farm out agreement▲ GoodMajor
OM (Manganese), a subsidiary of OM Holdings, can earn 60% of ferrous minerals at Waddikee by spending $2m over four years, with $250,000 minimum in year one. Subject to 90-day due diligence. Monax stays operator. Follows the 2008 beneficiation results.
10 Aug 2009director officer appointment● NeutralMajor
Gary Ferris becomes Managing Director from 1 September 2009, replacing Michael Schwarz. He is a geologist with 18+ years' experience, formerly MD of InterMet Resources. The company says it will focus on strategic alliances and joint ventures. This resolves the leadership vacancy.
31 July 2009quarterly activities report● Neutral
June quarter report: the first hole under Kohinoor's old workings hit 2m @ 2.59g/t Au but missed the main lode. Underground rock chips reached 31.5g/t. Bonaventura drill analysis is complete. Cash figures are not in the visible text.
27 July 2009joint venture update● Neutral
Monax's cover note forwarding Marmota's release on the Melton joint venture (Marmota earning 50% for $400,000 over two years). No new content beyond the Marmota announcement.
27 July 2009farm in farm out agreement▲ GoodMajor
Marmota can earn 50% of Monax's Melton copper-gold-uranium project on Yorke Peninsula (two tenements) by spending $400,000 over two years. It is a new joint venture, adding to the existing Marmota deals with Monax.
24 July 2009director officer appointment▼ BadMajor
Managing Director Michael Schwarz, who joined in November 2005, resigned effective 31 August 2009. No reason is given in the announcement.
30 Apr 2009quarterly activities report● Neutral
March quarter report: Marmota reached 25% of Ambrosia after $1m spend (earning 50% for $2m), and drilled 24 holes at Mulyungarie. Bonaventura: all assays are in, and a 3D model and resource evaluation is under way. No cash figures in the visible text.
27 Apr 2009drilling spud● Neutral
Marmota began its first copper-gold-uranium basement drilling at Ambrosia, on ground it is earning 50% of from Monax. The program is expected to take several weeks. It follows the earlier 25% earn-in, and no results yet.
19 Mar 2009joint venture update▲ Good
Marmota completed its first 25% earn-in on Ambrosia from Monax, and is on track for 50% during the 2nd and 3rd quarters of 2009. Basement drilling is to start in April 2009. Carbonaceous muds showed some oil-shale potential (up to 24.1 kg/tonne). This is Marmota's announcement, not Monax's.
3 Mar 2009half year report● Neutral
Half-year to 31 December 2008: net loss $406,592, down from $701,925 a year earlier. Cash was $7.49m (June 2008: $7.07m) plus $4.0m of financial assets, with total liabilities of $0.46m. Waddikee beneficiation final results are expected early 2009.
30 Jan 2009quarterly activities report● Neutral
December quarter report: Monax and Marmota ran a strategic review to refocus on key projects. It repeats the Waddikee beneficiation (up to 42.5% Mn, 88% recovery) and the Punt Hill 159m @ 0.47% Cu results. A Pollinga sample is still being tested. Visible text gives no cash figures.
23 Jan 2009admin correction● Neutral
Monax issued a competent person statement to accompany its annual report, which it says was lodged on 14 October 2008. Administrative; no new results or figures.
18 Dec 2008drilling result▲ GoodMajor
Early lab tests on two Jamieson Tank samples lifted manganese from about 20% to 42.5% (80% recovery) and 18.7% to 34.7% (88% recovery). Laboratory conditions, not plant-scale. Spiral testing and a Pollinga sample test are still to come.
26 Nov 2008drilling result▲ GoodMajor
Punt Hill hole GHDD6 returned 159m @ 0.47% Cu, with 17m @ 1.1% Cu within it. The extended GHDD2 also hit copper over its extension. Described as the best results to date there; the company is now reviewing data to plan next steps. Resolves the pending Groundhog results.
