Each one in plain English, with the numbers worked through for a shareholder.
31 Jan 2022quarterly activities report● Neutral
December quarter: Pickle Crow drilling continued with five rigs, repeating hits such as 7.3m @ 33.3 g/t, ahead of the February resource update on the 1.7Moz base. Cash fell to A$10.5M from A$16.4M in September.
Further Pickle Crow hits include 7.3m @ 33.3 g/t and 1.5m @ 35.2 g/t, outside the current 1.7Moz resource. 36,440m (80 holes) are drilled with five rigs; the resource update remains on track for February 2022.
New Pickle Crow results include 2.0m @ 68.3 g/t, plus 19.5m @ 3.3 g/t in banded iron near Shaft 1 and more Carey hits. Five rigs are drilling, 27,500m completed, and the resource update remains on track for February 2022.
All four resolutions passed at the 26 November 2021 AGM, including re-electing Michael Naylor, the 10% placement capacity and the change of auditor. About 24% of votes opposed the remuneration report, which still passed.
Noosa Mining virtual presentation by Ray Shorrocks, 11 November 2021, relying on the 1.7Moz resource of 15 July 2021. No new information in the readable text.
September quarter: Tyson discovery reported, 36 holes/14,383m drilled, 70% of Pickle Crow held, and a binding deal to buy Limestone Well for A$500,000. Cash was A$16.4M, down from A$21.8M in June. Resource update due February 2022.
South-West Connect presentation by COO Darren Cooke, 27 October 2021, relying on the 1.7Moz resource of 15 July 2021. No new information in the readable text.
Notice that COO Darren Cooke will present at the Canaccord Genuity South-West Connect showcase on 27 October 2021, covering the Tyson and Carey discoveries. Administrative only.
Notice that Ray Shorrocks will give an updated corporate presentation at the Resources Rising Stars/Miningnews.net conference on 15 October 2021. Administrative only.
12 Oct 2021asset acquisition disposition● NeutralMajor
Mithril announced a binding term sheet to sell its Limestone Well vanadium-titanium interest to Auteco for A$500,000, keeping a 10% free-carried interest that Auteco can buy for A$10M. This ends the 2018 farm-in, replacing the earn-in route to 80%.
Corporate presentation by Ray Shorrocks at the NWR Resources Series, 12 October 2021. It states it relies on the 15 July 2021 1.7Moz resource; no new information in the readable text.
Notice that Executive Chairman Ray Shorrocks will present at the NWR Resources Series virtual conference on 12 October 2021. Administrative notice only; no new company information.
Auteco announced a new high-grade vein system, Tyson, at Pickle Crow, with hits like 2.8m @ 17.9 g/t and 1.0m @ 30.1 g/t over ~400m strike and beyond 800m depth. It lies outside the 1.7Moz resource. Resource update now planned February 2022.
2021 annual report calls it a pivotal year: resource up 70% to 1.7Moz, 51% Pickle Crow stake secured in May and 70% in August. Cash was over $21M at 30 June 2021. Up to six rigs are hoped for by year end, with 80% targeted by end 2021.
Annual corporate governance statement and Appendix 4G lodged. Auteco plans its AGM for 26 November 2021, with director nominations due by 6 October 2021. Administrative only.
Beaver Creek Summit virtual presentation by Ray Shorrocks, dated 10 September 2021, restating the 1.7Moz resource and prior drill results. No new information in the readable text.
Diggers and Dealers presentation by COO Darren Cooke on 2 August 2021, referencing the 1.7Moz resource of 15 July. Repeats known facts; no new information in the readable text.
Follow-up drilling at Carey returned 9.8m @ 3.1 g/t, and a new banded-iron zone north of Shaft 3 returned 10.5m @ 3.6 g/t. Auteco also met the Stage 2 earn-in (C$5M spend) for 70% of Pickle Crow; a further 10% costs C$3M. Next resource update is planned for end 2021.
June quarter: resource lifted 70% to 1.7Moz, Carey discovery reported, and the 50,000m program started with four rigs. Cash was about A$21.8M (down from A$26.8M in March). The company says it remains on track for 80% of Pickle Crow by year end.
Pickle Crow Inferred resource rises 71% to 1.7Moz (6.6Mt at 8.1 g/t), including 1.47Moz at 10.1 g/t high-grade and a maiden 240,000oz BIF resource at 3.7 g/t. Cost was A$15.25/oz; the new 50,000m program is underway.
Noosa Mining & Exploration conference presentation, updated to the 1.7Moz resource announced 15 July 2021. It restates known figures and drill results; no new information in the readable text.
Corporate presentation for the MarketLit Conference on 2 July 2021 by Executive Chairman Ray Shorrocks, restating the 1Moz at 11.3 g/t Inferred resource from September 2020. No new information in the readable text.
Auteco announced the Carey discovery, with shallow intersections including 20.4m @ 5.3 g/t, suggesting possible open-pit potential. The 45,000m program is finished (166 holes, 45,522m) and the board approved a further 50,000m. Resource update is due next month; cash was $26.8M at 31 March.
March quarter: 30,000m drilled by 31 March with up to five rigs active, and the 1Moz resource update planned for early July. Cash was about A$26.8M. A 13 May meeting will approve 100 million shares to First Mining for 51%; 7 RC holes at Limestone Well await assays.
New high-grade veins found at Shaft 3, including 0.3m @ 315.4 g/t and 1.0m @ 34.9 g/t, plus extensions to known veins. 120 holes for 31,160m are drilled. Drilling will now focus on proving continuity, and the resource update is due to be released in July 2021.
Auteco completed the Stage 1 earn-in spending at Pickle Crow, earning a 51% stake in PC Gold Inc. once it issues 100 million shares to First Mining, which needs shareholder approval at a meeting expected in late May 2021. This moves the earn-in towards the 80% cap.
Half-year accounts to 31 December 2020. Recaps the 1Moz resource and about 19,000m drilled by year-end with four rigs on site. Sam Brooks is shown as resigned 30 November 2020 and Ernst & Young as auditor. Financial figures were not visible in the text provided.
S&P Dow Jones index rebalance notice, not issued by the company. Auteco is listed as an addition to the All Ordinaries index effective 22 March 2021. No operational or financial news.
Conference presentation for the RIU Explorers Conference on 17 February 2021, restating the 1Moz at 11.3 g/t Inferred resource and previously announced results. No new information in the readable text.