Each one in plain English, with the numbers worked through for a shareholder.
13 Nov 2014drilling result● Neutral
Drilling at Punt Hill is finished: two Antofagasta-funded holes totalling 2,045.5m at Bottle Hill and Groundhog. Core is being cut and sampled, with assay results expected about four weeks after samples are submitted. No results yet.
13 Nov 2014drilling result▲ GoodMajor
Monax reports a potential kimberlite at Margaret Dam in northern South Australia, a magnetic body about 80m deep and 250m long, found from geophysics only. Shallow drilling is planned for early 2015 to test whether it carries diamonds. A new, early-stage thread.
9 Oct 2014farm in farm out agreement▲ Good
Western Areas announces farm-in and joint venture agreements with Gunson and Monax over Western Gawler tenements (~2,746km2 combined). For Monax's three tenements it can earn up to 90%, with minimum $0.4m spend over 1.5 years. This is Western Areas' release of the deal Monax announces separately.
9 Oct 2014farm in farm out agreement▲ GoodMajor
Monax signs a farm-in with Western Areas over three Western Gawler Craton nickel-copper tenements (2,046km2). Western Areas can earn 75% by spending $800,000 within 2.5 years, then 90% with a further $400,000. Monax would then fund pro rata or dilute to a 1% royalty.
24 Sept 2014drilling result▼ BadMajor
Both Parndana holes (450m and 504m) missed the target: the first did not explain the gravity anomaly, the second found too little sulphide to explain the IP anomaly. Monax is running another IP survey to relocate it. Punt Hill drilling starts; Millers Creek drilling is delayed.
2 Sept 2014drilling result● Neutral
The detailed gravity survey at Phar Lap, funded by Antofagasta, is finished and modelling of two possible copper-gold targets is under way. Results go to Antofagasta, which then decides whether to proceed to the farm-in (70% for US$2m over 3 years). No results yet.
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.
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.
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.
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.
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.
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.
17 Mar 2014drilling result▲ Good
Modelling of the Millers Creek gravity data outlined three priority copper-gold targets plus lesser prospects. A helicopter magnetic survey follows within two weeks to help place drill holes. These are targets only; no drilling decision yet.
10 Feb 2014drilling progress report● Neutral
Millers Creek gravity survey finished ahead of schedule, with 2,616 new stations over four areas. Final data is due end of February and modelling by mid-March. No results yet.
4 Feb 2014drilling progress report● Neutral
Infill gravity survey started at Millers Creek, funded by Antofagasta. A closer review cut the seven earlier targets to four areas holding six gravity targets. Modelling is due by mid-March, and any drill decision rests with the Technical Committee.
20 Dec 2013farm in farm out agreement▲ GoodMajor
Antofagasta approved further Punt Hill drilling (starting Q1 2014), which triggers Phase 2 to lift its stake from 51% to 70% for a further US$5m. Phase 2 extended from two to four years, scoping study dropped; success fee US$10m. Spent US$3.9m so far.
9 Dec 2013drilling result▲ Good
New government gravity data outlines up to seven potential copper-gold targets at the Millers Creek project (3,166km2). Closer-spaced gravity surveys are planned from January 2014 once approvals arrive. These are targets only, with no drilling yet.
4 Nov 2013farm in farm out agreement▲ GoodMajor
Maximus Resources signed a binding MoU giving Monax Alliance six months' exclusivity on its four Billa Kalina tenements (2,342km2), for US$25,000. Alliance can then farm in to earn 80% by spending US$3m. This adds a new Alliance copper-gold prospect.
4 Nov 2013farm in farm out agreement● Neutral
Re-release of the 4 Nov Maximus MoU: Alliance gets six months' exclusivity on four Billa Kalina tenements (2,342km2), and can earn 80% by spending US$3m over three years. Adds detail: Maximus can then sell its 20% for US$4.5m. Access awaits a Woomera deed expected late 2013.
26 Aug 2013resource reserve update▲ GoodMajor
Maiden Inferred resource at Wilclo South, Waddikee: 6.38Mt @ 8.8% graphitic carbon, about 550,000t contained graphite (5% cut-off), including 1.75Mt @ 12.5%. Delivers the resource awaited since April drilling; metallurgy and Francis drilling planned next.
26 June 2013drilling result▲ GoodMajor
Final Wilclo South assays include 10m @ 24.4% graphitic carbon and 12m @ 17.5%, with up to 45% over one metre. AMC Consulting's JORC resource is now expected by late July 2013, slipping from the earlier late-June target.
25 June 2013drilling result▲ Good
Gravity survey at Algebuckina outlined two copper-gold targets, Eitzen Bore and Ruby Hill. The project now covers three tenements (1,702km2) after the Falcon pair were dropped. Ground magnetics follow, then a budget decision at the August Antofagasta meeting; drilling possible in September quarter.
27 May 2013drilling progress report▲ Good
Initial Wilclo South assays are arriving, with all expected within three weeks. Petrology on 12 samples shows more coarse flake graphite. AMC Consulting is engaged to produce the JORC resource, expected by end of June 2013.
14 May 2013drilling scheduled● Neutral
A gravity survey has started at Algebuckina, the first Antofagasta Alliance project, over four copper-gold targets, taking about two weeks. A Native Title agreement with the Arabana group is to be signed shortly. Drilling is planned for the third quarter 2013.
22 Apr 2013drilling result▲ GoodMajor
Francis, a second graphite prospect at Waddikee, returned 15m @ 20.7% graphitic carbon and 12m @ 21.9%, with up to 38.1% over one metre. This adds a second high-grade zone alongside Wilclo South; Wilclo South results are due in 4-6 weeks.
10 Apr 2013drilling progress report▲ Good
The 2013 Waddikee drilling is complete: 87 holes (8,315m), including 77 at Wilclo South and seven at Francis, where two holes showed coarse visible graphite. Samples go to the lab, with results in 4-6 weeks and a JORC resource to follow in a further 4-6 weeks.
