Past year: ▲ 19%(20.0c – 32.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
9 Mar 2006regulatory community update▲ GoodMajor
A prospecting right was granted for the Holfontein coal project (GVM 49%), letting development proceed. An 18-borehole infill drill program (about R1 million) is planned by June, with a feasibility study by August.
8 Mar 2006capital raising announcement● NeutralMajor
GVM raised $350,000 by placing 1,400,000 shares at 25 cents. It also issued 1,637,500 shares for NiMag preference shares and 575,000 shares for professional fees, and said further coal property negotiations should conclude in 3-4 weeks.
What it means for a shareholder
1.4m new shares at A$0.250 to raise about A$350,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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28 Feb 2006half year report● Neutral
Half-year to 31 December 2005 shows a loss of $141,447 after $215,000 of one-off AIM listing costs. Nimag nickel-magnesium alloy business ran ahead of budget; the Samroc stake is held for sale, expected to realise about A$750,000.
