Past year: ▼ 66%(6.70c – 19.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Nov 2018capital raising announcement● NeutralMajor
Launched a fully underwritten 1-for-2 entitlement offer at A$0.036 per share to raise about A$1.769m, underwritten by Treasure Unicorn, controlled by largest shareholder Yitai (37.42%). Funds go to exploration, debt repayment and working capital.
27 Nov 2018capital raising announcement● Neutral
Formal offer document for the 1-for-2 non-renounceable entitlement offer at A$0.036 per share, raising up to about A$1,768,804. Offer opens 5 December and closes 17 December 2018. Details already announced on 27 November; this adds the timetable and terms.
16 Nov 2018drilling result▼ BadMajor
Jungle Hill RC results were weak: best gold was 4m at 0.729ppm, and the banded iron zone was narrow and low grade (about 18% Fe at depth). Minor copper and zinc intercepts. Further analysis of selected intervals is planned.
9 Nov 2018director officer appointment● NeutralMajor
Three Yitai Group-linked directors were appointed, with Donghai Zhang as Chairman. Yitai's Inner Mongolia Yitai Investment holds 37.42% of the company. Kaiyuan Yang and Yutian Bai resigned; Jianzhong Yang stays on the board, no longer chairman. Signals a change of control of the board.
6 Nov 2018director officer appointment● Neutral
Robert Lees resigned as joint company secretary; Long Zhao continues as sole company secretary. Administrative only.
30 Oct 2018quarterly activities report● Neutral
September 2018 quarter: 17 RC holes (2,023m) were drilled at Jungle Hill, which hit narrower banded iron zones than expected. Halls Creek licences were granted, lifting granted area to 1,034 km2. Iron and Halls Creek fieldwork delayed to June quarter 2019.
30 Oct 2018quarterly activities report▼ BadMajor
September 2018 quarter cash fell to A$355k from A$635k, with A$280k operating outflow. The largest shareholder undertook to provide up to A$1m, and a A$500k loan was received on 29 October 2018. Next quarter's outflow estimated at A$260k.
3 Oct 2018drilling progress report▲ GoodMajor
Drilling at Jungle Hill finished: 17 RC holes for 2,023m, begun 12 September 2018, with results to follow. Separately, the four Halls Creek cobalt/nickel/copper licences were granted for 5 years from 31 August 2018, resolving the native title wait.
13 Sept 2018half year report● Neutral
Half-year report to 30 June 2018 restates operations: Jungle Hill RC drilling contract awarded, Halls Creek native title agreements signed with grants awaited, and Maryvale's compulsory 50% tenement reduction completed. Financial statements not in the text provided.
30 July 2018quarterly activities report▲ Good
June 2018 quarter: a drilling contract was awarded for a 2,000m RC program at Jungle Hill, starting August. Native title agreements were signed for all four Halls Creek tenements, resolving that open thread. Iron fieldwork planned for September quarter.
30 July 2018quarterly activities report▼ Bad
June 2018 quarter cash fell to A$635k from A$910k, with A$275k operating outflow. Notes funding in loans or equity will be sought from the largest shareholders, who have expressed intention to support. Next quarter's outflow estimated at A$175k.
5 June 2018security holder rights change● Neutral
Company set up a sale facility for 1,003 holders of parcels under A$500 (under 14,285 shares), out of about 1,135 holders. Aims to cut register administration costs. Holders can keep shares by returning a form by 24 July 2018.
27 Apr 2018quarterly activities report● Neutral
March 2018 quarter cash report: cash fell to A$910k from A$1.136m, with A$226k operating outflow. No debt or fundraising. Next quarter's outflow is estimated at A$185k (staff A$135k, admin A$50k), lower than the A$305k previously estimated.
27 Apr 2018quarterly activities report● Neutral
March 2018 quarter: gold soil results were reported as low-level, with the company calling Eight Mile's results disappointing. Infill sampling is planned there, and more sampling at Jungle Hill. Iron work programs went to native title parties. Granted area is unchanged at 751.6 km2.
28 Mar 2018admin correction● Neutral
Appendix 4G corporate governance checklist for the year to 31 December 2017, lodged with the annual report on 28 March 2018. Administrative only, with no new operational or financial information.
28 Mar 2018annual report● Neutral
2017 annual report: the chairman restates the strategy of applying directly for tenements at low cost, the Kalgoorlie office and the four Halls Creek applications. Maryvale's licence was renewed to 2020. Financial statements are not in the text provided.
8 Feb 2018drilling result● Neutral
Soil sampling at Jungle Hill and Eight Mile (506 soil, 32 rock samples) found low-level gold, 5-16ppb at Jungle Hill and 4-10ppb at Eight Mile, plus elevated arsenic to 1640ppm in Jungle Hill rocks. More surface sampling is planned; no drilling yet.
31 Jan 2018quarterly activities report● Neutral
December 2017 quarter: Eight Mile Dam and Jungle Hill gold soil sampling results are still to come, with no iron or Maryvale activity. Halls Creek applications await native title agreements. Granted area is unchanged at 751.6 km2.
31 Jan 2018quarterly activities report● Neutral
December 2017 quarter cash fell to A$1.136m from A$1.382m, with A$246k operating outflow. No debt or fundraising. Next quarter's outflow is estimated at A$305k, higher than recent quarters.
19 Dec 2017agm notice● Neutral
AGM address: the chairman reports a new Kalgoorlie operations office and the four Halls Creek cobalt/gold applications. He says the company is also assessing non-resources opportunities that may bring early cash flows, a hint at possible diversification, with no deal announced.
19 Dec 2017agm notice● Neutral
AGM results: the re-election of Jianzhong Yang as a director passed on a show of hands, with 60,327,646 proxy votes for and 180 against. Administrative only.
27 Oct 2017quarterly activities report● Neutral
September 2017 quarter cash fell to A$1.382m from A$1.652m, with A$273k operating outflow (A$124k on exploration). No debt or fundraising. Next quarter's outflow is estimated at A$195k, up from the A$150k previously estimated.
27 Oct 2017quarterly activities report● Neutral
September 2017 quarter: Maryvale coal licence renewed three years to 2020, and gold and iron sampling results were received. Granted area stays 751.6 km2, all 100% held and up to date on statutory requirements.
11 Sept 2017drilling result▲ Good
Surface sampling at Bustler Bore (iron, 100%, 70km north of Newman) found 58-60% Fe channel iron mineralisation, from 249 handheld readings and 19 rock samples. This delivers the awaited assays; it is surface work only, with no drilling or resource yet.
5 Sept 2017drilling result● Neutral
Phase 2 soil sampling at Jungle Hill, Canegrass and Holey Dam (657 soil, 42 rock samples) found elevated gold in soil at all three and a gossanous quartz vein at Jungle Hill. Targets will be reviewed for aircore drilling in the first half of 2018, later than the earlier Q3 2017 plan.
4 Sept 2017half year report● Neutral
Half-year report to 30 June 2017; the text provided is the operations review, repeating known points (Maryvale resource, Darnell Hill grant, sampling completed, Halls Creek applications). Financial statements are not in the text provided.
27 July 2017quarterly activities report● Neutral
June 2017 quarter cash report: cash fell to A$1.652m from A$1.837m, with A$185k operating outflow and no debt or fundraising. Next quarter outflow is estimated at A$150k. Compared with A$3.27m at June 2015, cash has roughly halved.
27 July 2017quarterly activities report● Neutral
June 2017 quarter: phase 2 gold soil sampling and Bustler Bore iron sampling were completed, with results awaited. Four Halls Creek cobalt/gold applications were lodged. Next Maryvale exploration phase is under review. Granted area stays 751.6 km2.
17 May 2017regulatory community update● Neutral
Announces grant of the Darnell Hill iron tenement E08/2770-I to Kaili Iron for 5 years, targeting channel iron deposits. It is a late repeat of the grant already reported in the March quarter (9 March). Year-one work is mapping and XRF sampling.
27 Apr 2017quarterly activities report● Neutral
March 2017 quarter: the Maryvale resource was announced and Darnell Hill iron tenement was granted on 9 March, resolving the last pending grant. No field work was done; phase 2 gold sampling is planned for the June quarter. Granted area is 751.6 km2.
