8 Jan 2021director officer appointment▲ Good
Darren Cooke, formerly of Northern Star, Newmont and Barrick, appointed Chief Operating Officer from 1 February 2021 to lead the push to grow the 1Moz Pickle Crow resource. Not a board role.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Dec 2020director officer appointment● NeutralMajor
Executive Technical Director Sam Brooks resigned, stepping down to focus on Bellevue Gold, given COVID travel limits and the Canadian team now in place. Company says drilling will accelerate, with a third rig expected in coming weeks and regional targets tested early in 2021.
16 Nov 2020investor presentation● Neutral
Notice that Ray Shorrocks will present at the NWR Virtual Resources Conference on 18 November 2020. No new information.
11 Nov 2020drilling result▲ Good
New drilling outside the 1Moz resource defined several mineralised zones, with results such as 3.6m @ 8.2 g/t and 18.52m @ 2.75 g/t. 58 holes for 12,927m are done; drilling was slightly delayed by crew availability. Cash is $31M; resource update still 1H 2021.
6 Nov 2020investor presentation● Neutral
Notice that Ray Shorrocks will present at the Resources Rising Stars investor conference on 11 November 2020. No new information.
30 Sept 2020annual report● Neutral
2020 Annual Report for the year to 30 June 2020. The chairman's letter recaps the Pickle Crow acquisition, the resource growth from 830,000oz to 1Moz at 11.3 g/t, and the $5.1M and $30.4M placements funding the 45,000m program. Repeats known facts.
30 Sept 2020annual report● Neutral
Appendix 4G lodged with the annual report for the year to 30 June 2020, pointing to the corporate governance statement on the company website. Compliance filing with no new operating or financial information.
9 Sept 2020director officer appointment● Neutral
Executive Chairman Ray Shorrocks' employment contract was renewed from 1 July 2020 at a base salary of $275,000 a year, plus super. Terms include three months' notice and a six-month salary bonus on change of control.
1 Sept 2020resource reserve update▲ GoodMajor
Pickle Crow Inferred resource rose 170,000oz (20%) to 1,000,000oz at 11.3 g/t, up from the 830,000oz maiden estimate in June. New holes outside the resource returned up to 99.4 g/t over 0.6m. Drilling expanded to 45,000m with a third rig; next resource update expected 1H 2021.
10 Aug 2020investor presentation● Neutral
Notice that Executive Chairman Ray Shorrocks will present at the Resources Rising Stars virtual investor lunch on 11 August 2020. No new information in the announcement.
17 July 2020investor presentation● Neutral
July 2020 conference presentation promoting Pickle Crow's maiden 830,000oz at 11.6 g/t Inferred resource. Appears to repeat already announced information; remaining text truncated.
14 July 2020investor presentation● Neutral
Notice that Ray Shorrocks will present at the Noosa Mining Virtual Conference on 17 July 2020. It notes Pickle Crow's 830,000oz resource is now funded by the $30.4M placement. No new information.
7 July 2020capital raising announcement▲ Good
Firm commitments confirmed for the ~$30.4M placement at $0.135, including two offshore resource funds. About 225m new shares settle around 13 July. A resource update is intended later in 2020.
6 July 2020capital raising announcement▲ GoodMajor
Auteco launched a fully underwritten placement of about $30.4M at $0.135 per share (about 225m shares, 16.8% of capital), a 10% discount to the last close. Canaccord underwrites. Proceeds accelerate Pickle Crow drilling, following the maiden resource and prior $5.1M raise at 3.5 cents.
What it means for a shareholder
225m new shares at about $0.1351 to raise about $30.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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29 June 2020resource reserve update▲ GoodMajor
Maiden JORC 2012 Inferred resource at Pickle Crow of 830,000oz at 11.6 g/t gold (2.3Mt at 3.5 g/t cut-off), delivering the promised Q2 resource. Nine holes drilled, assays pending; a second rig added and program expanded from 5,000m to at least 10,000m.
29 June 2020price query● Neutral
ASX lifted the suspension of Auteco shares on 29 June 2020 after receiving the response to its price query. Administrative notice only.
29 June 2020price query● Neutral
Responding to ASX's query over a rise from $0.057 to $0.081, Auteco said it knew of no undisclosed information explaining the trading. It noted the gold price at a 7-year high and investors may have anticipated the promised Q2 resource, released the same day.
26 June 2020price query● Neutral
Auteco's shares were suspended at its own request on 26 June 2020, pending its response to an ASX price query. It expects to respond by 2 July. Suspension is administrative and no new information is given here.
27 May 2020drilling spud▲ GoodMajor
Maiden 5,000m diamond drilling has started at Pickle Crow, the first systematic exploration there since the mine closed in 1966. It targets shallow high-grade gold within the top 300m, outside the historical resource areas. The maiden JORC resource is still being prepared.
5 May 2020investor presentation● Neutral
Notice that Executive Chairman Ray Shorrocks will present at a virtual small-cap resources conference on 7 May 2020. No new information in the announcement.
29 Apr 2020capital raising announcement▲ GoodMajor
Auteco has firm commitments for a A$5.1M placement of 145.7m shares at 3.5 cents, a 2.4% premium to the 10-day VWAP. It funds the 5,000m maiden Pickle Crow drilling. Directors' $225,000 portion needs shareholder approval at a June meeting.
What it means for a shareholder
146m new shares at $0.035 to raise about $5.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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22 Apr 2020security holder rights change● Neutral
Issued 60 million unquoted options after shareholder approval at the 9 March 2020 general meeting: 30m exercisable at $0.01 and 6m each at $0.011 to $0.015, all expiring 9 March 2023. Routine issue; recipients not stated in the text.
16 Apr 2020director officer appointment● Neutral
Executive Chairman Ray Shorrocks bought 500,000 shares on market on 9 April 2020 for $13,000, raising his indirect holding to 26.5 million shares. Routine director interest notice.
15 Apr 2020director officer appointment● Neutral
Director Steve Parsons bought a further 3 million shares on market on 8 April 2020 for about $76,000, taking his indirect holding to 100,030,340 shares. Routine director interest notice.
14 Apr 2020investor presentation● Neutral
April 2020 investor presentation on the Pickle Crow gold project, with board and management profiles. Appears to repeat the March roadshow material; no new figures visible in the text.
6 Apr 2020director officer appointment● Neutral
Director Steve Parsons bought about 2.78 million shares on market on 1-3 April 2020 for roughly $54,000, lifting his indirect holding to 97,030,340 shares. Routine director interest notice.
26 Mar 2020drilling scheduled▲ Good
Auteco identified multiple shallow drill targets at Pickle Crow across four shear zones and plans a maiden JORC resource in early Q2 2020. A 5,000m diamond drill program is planned for late May. Cash was ~$1.2M at 25 March 2020; company expects minimal COVID-19 impact.
13 Mar 2020material agreement▲ GoodMajor
Formal documents completed with First Mining to earn up to 80% of PC Gold Inc., owner of Pickle Crow, via an incorporated joint venture. It resolves the 45-day term sheet step; a JORC resource is expected in Q2 2020 and drilling in Q2.
9 Mar 2020investor presentation● Neutral
North American roadshow presentation promoting the Pickle Crow gold project and 320 km2 landholding. Repeats known facts from the January and February announcements; no new figures visible in the text.
9 Mar 2020half year report● Neutral
Half year to 31 December 2019: net loss $460,445 and cash $354,185. Reports Limestone Well drilling, the Pickle Crow deal and board changes, including Ian Gordon's resignation on 28 January 2020. Mostly restates known events.