Each one in plain English, with the numbers worked through for a shareholder.
12 Aug 2019capital raising announcement▲ GoodMajor
Meteoric raises $2.7m through a placement of 84,375,000 shares at 3.2c to institutional and sophisticated investors, with CPS Capital as lead manager. Funds expand drilling so Juruena and Novo Astro can be drilled at the same time. This is well above the 1c paid in the earlier raising.
What it means for a shareholder
84.4m new shares at $0.032 to raise about $2.7m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Field work starts at Novo Astro, 30km east of Juruena, with 36 samples sent for assay and walk-up drill targets identified under old workings. Meteoric plans to send an extra rig there in late August; Novo Astro has never been drilled. Juruena drilling at Dona Maria is under way.
June quarter report covers the completed Juruena and Novo Astro acquisition, which it calls a complete change of strategy, and the maiden drill program that began after quarter end. It largely repeats earlier announcements; first assays are expected in August.
Big River Gold (formerly Crusader, the seller) updates on its Borborema project and notes its 50m Meteoric shares, a 5.62% holding, bought at 1c against a 2.6c price on 22 July. Nothing new about Meteoric beyond the drilling start.
The first GEOSOL diamond rig is on site at Juruena, with drilling to start by 24 July at Dona Maria and a second rig due within the week. The 26-hole, 4,700m program should take about 3 months; first samples go to the lab in early August.
Meteoric signs a drilling contract with Brazil's largest driller, GEOSOL, for maiden drilling at Juruena starting in July. The initial program is 26 holes for 4,700m, following up high-grade intercepts at Dona Maria and Querosene. This delivers the Q2 drilling plan, slightly later.
Meteoric completes the Juruena and Novo Astro acquisition from Crusader on the terms announced in March. Dr Tunks becomes full-time Managing Director on $276,000 a year, and heads to site to finalise drill plans for Dona Maria and Querosene.
Crusader, the seller, confirms the Juruena-Novo Astro sale to Meteoric has completed. It received A$1m cash and 50m Meteoric shares at 1c, escrowed 12 months, plus up to A$1.5m more in shares or cash on milestones. Repeats Meteoric's 31 May completion news.
The small-holding sale facility closed on 10 May with 12,773,790 shares from 703 shareholders eligible to be sold. Meteoric is working with advisers to sell them. This follows the March announcement.
March quarter report covers the Juruena and Novo Astro deal and the $2.64m underwritten raising at 1c, with 92m shares issued, 97m more subject to an EGM on 21 May, and the SPP. Mostly repeats earlier announcements.
The share purchase plan closed on 12 April with applications of $1.76m against the $750,000 cap at 1c a share. Applications will be scaled back at the board's discretion. Final allocations are still to come.
Meteoric and Crusader sign the formal share sale agreement for Juruena and Novo Astro, with all material conditions met. Completion follows transfer of the holding entities, expected shortly. Drilling at Dona Maria and Querosene is planned for Q2.
Crusader confirms the same news from the seller's side: the share sale agreement for Juruena and Novo Astro is signed and completion is expected shortly. It adds nothing new beyond Meteoric's own release.
Presentation promoting the Juruena and Novo Astro acquisition. It shows 574.5m shares on issue, cash of $1.75m excluding $2.64m from the placement and SPP, and a market cap of $6.9m at 1.2c. It repeats known deal terms.
Meteoric sets up a sale facility for holdings worth under A$500 as at 26 March 2019. Those shares will be sold without brokerage after 10 May unless holders opt out. The text says it also reduces registry costs.
Meteoric answers an ASX query about its price rise before the 15 March halt and the timing of the Joyce results. It says Joyce results were inconclusive, were reviewed by 15 March, and that it complied with disclosure rules. Talks with Crusader began in late January.
26 Mar 2019capital raising announcement● NeutralMajor
Meteoric offers eligible shareholders a share purchase plan of up to $15,000 each at 1c a share, capped at $750,000 (75m shares). Funds go to Juruena drilling, Novo Astro geophysics and working capital. It is part of the raising announced with the acquisition.
Meteoric plans drilling at Juruena's Dona Maria and Querosene deposits (436,000t at 14.7 g/t, 205koz) to firm up inferred resources and extend them, expected to start in Q2. The text calls this a shift from greenfields exploration to resource definition. Acquisition not yet complete.
21 Mar 2019asset acquisition disposition▲ GoodMajor
Meteoric agrees to buy the Juruena and Novo Astro gold projects in Brazil from Crusader for $3m: $1m cash, 50m shares at 1c, and $1.5m of shares tied to a 400,000oz resource and a decision to mine. Juruena holds 261koz gold at 6.3 g/t. This moves Meteoric from cobalt into gold.
ASX lifts Meteoric's suspension from the start of trading on 21 March 2019, after the company released its acquisition and capital raising announcement. This ends the suspension that began on 19 March.
Seller Crusader's view of the deal: it signs a binding term sheet to sell its Juruena Gold Project in Brazil to Meteoric for $1m cash plus 50m Meteoric shares at 1c, and up to $1.5m more in shares on milestones. Meteoric is not yet shown as bound in its own words.
19 Mar 2019listing compliance notice● NeutralMajor
At its own request, Meteoric is suspended from quotation. The company says the aim is to manage disclosure on a material acquisition; no details are given. It follows the 15 March trading halt and the weak Joyce drilling results.
Half-year to 31 December 2018: net loss $1.07m (prior period $5.5m loss), cash $2.07m versus $3.30m at June 2018, net assets $2.11m. Auditor is now listed as BDO Audit (WA). Operations repeat earlier updates.
Joyce maiden drilling of four holes for 492m found only narrow mineralisation, best 1.845% copper over 0.61m. The MD says results do not support the surface sampling, with gold and cobalt low. Untested eastern targets remain. Fewer holes than the 8 planned.
ASX pauses trading in Meteoric shares pending a further announcement. No reason is stated in this notice; a later filing links a trading halt to a material acquisition.
December quarter report recaps the 38 cobalt targets generated at Beauchamp, Mulligan East and Iron Mask, and the Joyce drilling started in January with samples submitted for assay. It notes a renewed focus on gold and base metal acquisitions. Mostly repeats earlier news; truncated.
A rig has been mobilised and the initial 8-hole, 500m diamond drill program started at Joyce on 11 January, targeting zones below massive sulphide outcrops. Results are expected in coming weeks. This starts the maiden drilling announced in November.
7 Jan 2019material agreement termination▼ BadMajor
TopTung will not complete the purchase of Midrim and LaForce, citing market conditions and a focus on its existing portfolio. This ends the November sale, so Meteoric keeps both projects. It says it has over $2m cash net of liabilities and is assessing gold projects.
Modelling of the airborne EM survey (340 line-km) identifies 18 cobalt targets: 15 at Mulligan East and 3 at Iron Mask, taking the total to 29 across three projects. Environmental permit for Joyce approved; drilling expected early 2019.
Final airborne EM data and 3D modelling over Beauchamp (374 line-km) define 11 near-surface cobalt target areas, to be refined with geochemistry and ground geophysics. Mulligan East and Iron Mask modelling is due within a week; Joyce drilling is pushed to early 2019.
