1 June 2016capital raising announcement● Neutral
A cover letter to shareholders restating the rights issue terms: 1 new share for every 2 held at 1.0c, up to about $1.52m, record date 3 June, closing 24 June 2016. No new information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 May 2016capital raising announcement● NeutralMajor
Monax plans a partly underwritten 1-for-2 rights issue at 1.0c to raise up to about $1.52m (up to 151.8m shares), a 39.9% discount to the 10-day average price. Funds go to Mt Ringwood follow-up, Bullock Creek lithium, Croydon gold and working capital.
What it means for a shareholder
152m new shares at about $0.010 to raise about $1.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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30 May 2016capital raising announcement● Neutral
The prospectus for the 1-for-2 rights issue at 1.0c, raising about $1.52m, is lodged. It lists going concern, future capital needs and exploration risk as key risks, and says directors intend to take part and the chairman will underwrite part of any shortfall.
1 Mar 2016capital raising announcement● Neutral
Monax has firm commitments for a second placement of about $138,000 at 0.5c per share. Together with the February raise, it says this fully funds the 10-hole Mt Ringwood drilling, now expected from early April 2016, plus extra mapping and sampling.
23 Feb 2016capital raising announcement● NeutralMajor
Monax raised $60,000 from a placement of 12,000,000 shares at 0.5c, a 28.6% discount, to fund a 10-hole maiden Mt Ringwood drilling program starting within 4-6 weeks: five holes at Great Northern, three at Star of the North and two at Great Western.
What it means for a shareholder
12.0m new shares at $0.005 to raise about $60,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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22 Dec 2015capital raising announcement▼ BadMajor
The share purchase plan raised $145,500 from applications for 14,550,000 shares at 1.0c, about 21% of the $706,377 maximum. Shares are to be issued on 29 December, with funds going to Mt Ringwood exploration and working capital.
What it means for a shareholder
14.6m new shares at $0.010 to raise about $145,500. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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14 Dec 2015capital raising announcement● Neutral
The chairman's letter to shareholders re-promotes the share purchase plan at 1.0c, now closing 18 December, citing the 382 g/t Mt Ringwood sample and the Western Gawler conductor. It says Monax's ability to co-fund Western Gawler depends on strong take-up. Nothing new.
8 Dec 2015capital raising announcement● Neutral
Monax extends the share purchase plan closing date by a week to 18 December, so holders can digest the new Mt Ringwood and Western Gawler news. Results now due 22 December, shares issued 29 December. Other terms unchanged.
26 Nov 2015capital raising announcement● Neutral
Monax sends out the offer documents for the share purchase plan announced 19 November: up to $15,000 per holder at 1.0c a share, capped at 70,637,771 shares ($706,377). It closes 11 December. Administrative; no new terms.
19 Nov 2015capital raising announcement● NeutralMajor
Monax announces a share purchase plan to raise up to $706,377 through up to 70,637,771 shares at 1.0c, a 16.8% discount to the 5-day average price. It opens 26 November and closes 11 December. Funds go first to Mt Ringwood, and a strong take-up would help co-fund Western Gawler at 10%.
What it means for a shareholder
70.6m new shares at $0.010 to raise about $706,377. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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1 Sept 2015capital raising announcement● Neutral
Monax issued 21,385,924 shares on 1 September 2015 under the Punt Hill agreement. This completes the roughly 9.99% share issue to Antofagasta, taking Monax to 100% of Punt Hill. Routine cleansing notice; no cash raised.
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.
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.
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.
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.
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.
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18 Nov 2013capital raising announcement▼ BadMajor
Rights issue closed 14 Nov with only 3,932,454 shares taken up (about $118k at 3c) out of 48,991,628 offered, leaving a shortfall of 46,139,814 shares. Directors are talking to interested parties and can place the shortfall within three months.
What it means for a shareholder
3.9m new shares at $0.030 to raise about $118,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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14 Oct 2013capital raising announcement● Neutral
Rights issue closing date extended from 22 October to 14 November 2013, with new shares now trading from 22 November. No reason is given in the text.
24 Sept 2013capital raising announcement● Neutral
Shareholder letter restating the rights issue terms: 1-for-3 at 3c, up to about $1.5m, record date 1 October. Funds go to Wilclo South metallurgy and Francis work. Repeats known facts.
23 Sept 2013capital raising announcement● Neutral
Prospectus lodged for the 1-for-3 rights issue at 3c, issuing up to 50,071,601 shares to raise about $1.5m. Closing date 22 October 2013. Board cites constrained capital and a mix of direct exploration and partnerships.
What it means for a shareholder
50.1m new shares at about $0.030 to raise about $1.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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17 Sept 2013capital raising announcement● Neutral
Administrative letter to optionholders on the rights issue: options must be exercised by 1 October 2013 to take part. No new information beyond the announced 1-for-3 offer at 3c.
16 Sept 2013capital raising announcement● NeutralMajor
Monax plans a 1-for-3 non-renounceable rights issue at 3c per share to raise about $1.5m, a 15% discount to the 30-day VWAP. Funds go to Wilclo South metallurgy, Francis drilling, graphite marketing and working capital. Shortfall may be placed by directors.
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.
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8 Apr 2010capital raising announcement● NeutralMajor
Monax has firm commitments for a placement of about 5.5m shares at 10 cents to raise $550,000 before costs, earmarked for the new Cape York bauxite tenements. It uses the company's 15% capacity, so no shareholder vote is needed.
What it means for a shareholder
5.5m new shares at $0.100 to raise about $550,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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12 Jan 2010capital raising announcement▲ GoodMajor
The rights issue shortfall was fully placed: about 19.8m shares and 9.9m options raised about $1.5m. Acorn Capital became a substantial holder at about 6.6%. Monax says it will have over $5m in cash, resolving the rights issue thread.
What it means for a shareholder
19.8m new shares at about $0.0758 to raise about $1.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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18 Dec 2009capital raising announcement● NeutralMajor
The rights issue raised only about $1.26m of the targeted $2.7m, with 10.9m shares taken up and 5.9m applied for as extras. The 18.36m-share shortfall is to be placed to raise a further $1.37m.
What it means for a shareholder
10.9m new shares at about $0.1156 to raise about $1.3m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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13 Nov 2009capital raising announcement● Neutral
Prospectus lodged for the 1-for-3 rights issue at 7.5 cents, about $2.7m, with free attaching options. Documents are due to be mailed on 27 November 2009. This is the formal offer document for the 10 November announcement; the visible text adds no new figures.
10 Nov 2009capital raising announcement● NeutralMajor
Monax announced a 1-for-3 non-renounceable rights issue at $0.075 a share to raise about $2.7m, up to 36.6m shares, with a free 15c option expiring 30 Nov 2011 for every two shares taken. Funds go to Punt Hill and Melton drilling, a Kangaroo Island survey and new projects. It follows the September raising.
What it means for a shareholder
36.6m new shares at about $0.0738 to raise about $2.7m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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