Each one in plain English, with the numbers worked through for a shareholder.
19 Feb 2018drilling result▲ GoodMajor
Assays from the maiden Midrim program confirm shallow high-grade copper-nickel-PGE: 22.1m at 2.38% Cu, 1.64% Ni and 2.56 g/t PGE from 28m in MR-17-01, plus 9.4m at 4.25% Cu. This follows the December drilling and confirms historical intercepts.
5 Feb 2018drilling result▲ Good
Mulligan mapping and sampling found soil anomalies up to 209ppm cobalt and 807ppb silver. The best grab sample is restated as 9.2% cobalt, against 9.71% earlier. A 100m-spaced IP survey is next, with drilling planned for H2 2018.
24 Jan 2018asset acquisition disposition▲ GoodMajor
Meteoric staked the Burt Cobalt Project, 9.34 km2 in Ontario, about 7km along strike from Battery Mineral Resources' Island 27 project. Three fault zones give 5.7km of strike length. Exploration is planned for Q2 2018.
17 Jan 2018director officer appointment▲ Good
Tony Cormack, previously COO of Battery Mineral Resources, joins as Cobalt Project Manager. He is to design a Q2 2018 exploration program over the trend adjacent to BMR's Iron Mask, followed by a maiden diamond drilling program.
15 Jan 2018annual report● Neutral
Re-lodgement of the Appendix 4G governance checklist for the year to 30 June 2017, still dated 29 September 2017. Administrative filing with no new business information.
10 Jan 2018director officer appointment● NeutralMajor
Dr Andrew Tunks, former A-Cap Resources CEO, is appointed Managing Director, working about 3 days a week for $12,500 a month. Graeme Clatworthy steps back to non-executive director. A security incentive package needs shareholder approval.
21 Dec 2017drilling result▲ GoodMajor
The first Midrim program finished: 15 holes for 2,270m, with thick massive sulphides (chalcopyrite, pyrrhotite, pentlandite) in hole MR-17-01. No assay grades yet; results are expected early 2018. Down-hole EM was completed on 21 holes.
19 Dec 2017capital raising announcement▲ GoodMajor
The share purchase plan closed over 3.7 times oversubscribed, with 399 applications for $4.605m against the $1.24m cap, so all were scaled back proportionally. With the earlier placement, Meteoric says it has about $5m cash.
13 Dec 2017drilling result▲ GoodMajor
Rock-dump grab samples at Mulligan returned up to 9.71% cobalt, 16.5 g/t silver and 14.3 g/t gold, supporting the historic high-grade showing. Soil assays are due shortly; IP survey approval expected mid-late December.
6 Dec 2017admin correction● Neutral
The SPP record date is amended from 24 November to 27 November 2017. All other terms are unchanged: up to $15,000 per holder at $0.062.
4 Dec 2017director officer appointment● NeutralMajor
Patrick Burke, a lawyer and corporate adviser with several ASX directorships, becomes non-executive Chairman. Neville Bassett, on the board since November 2012, resigned as chairman. A change of chair.
1 Dec 2017director officer appointment● Neutral
George Sakalidis has resigned as a director effective from the 29 November 2017 AGM, as flagged on 7 September. Closes the open thread on his departure; the context says he stays on as a consultant.
30 Nov 2017capital raising announcement● Neutral
Details of the share purchase plan: existing holders can buy up to $15,000 of shares at $0.062, capped at $1.24m (20m shares). Expected to open 7 December and close 14 December. Follows the 28 November raising; funds go to cobalt and Midrim exploration.
28 Nov 2017capital raising announcement● NeutralMajor
Meteoric is raising $4.34m before costs: a $3.10m placement of 50m shares at $0.062 (5.2% discount to the 5-day average price) plus a $1.24m share purchase plan at $0.062 underwritten by CPS Capital. Funds 2018 cobalt and Midrim exploration. 30 million options also vested.
What it means for a shareholder
50.0m new shares at $0.062 to raise about $3.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
23 Nov 2017asset acquisition disposition▲ Good
Meteoric staked 90 more claims (13.7 km2) about 5km east of Mulligan, called Mulligan East, on similar structures. Claims need government approval, expected mid-December. Sample assays from Mulligan and Iron Mask are due in coming weeks.
20 Nov 2017drilling spud▲ GoodMajor
Meteoric began its first drilling at Midrim: 10 diamond holes for 1,500m, mostly twinning and testing extensions to historical high-grade intercepts. Three old holes will be reamed for down-hole EM. Metallurgical results are expected later this quarter; the company says programs are fully funded.
9 Nov 2017other▲ Good
Reinterpretation of old airborne EM and magnetic data identified 19 untested targets at Midrim, 7 high priority and shallow. Ground and down-hole EM surveys, with contracts signed, start within two weeks. Targets only; nothing drilled yet.
3 Nov 2017drilling result▲ Good
Re-assaying of 188 samples from 9 historical Midrim holes broadly reproduced old results, e.g. 18.85m at 2.64% copper, 1.72% nickel from 17.6m. Historical copper was generally under-reported and nickel over-reported, so the company says care is needed before any resource work.
30 Oct 2017regulatory community update● Neutral
Exploration began 30 October at the Mulligan and Iron Mask cobalt projects in Ontario: mapping, rock and soil sampling, 7.3 line-km of IP and ground magnetics at Mulligan. Aims to generate drill targets; the cobalt grades quoted are historical.
20 Oct 2017drilling progress report● Neutral
Work program at Midrim is underway: metallurgical testing, re-assaying of 9 historical holes (results imminent), and EM data reprocessing. A drill program is expected to start in Q4 2017. Describes planned work, with no new results.
9 Oct 2017price query● Neutral
ASX queried a jump in the share price from $0.041 on 3 October to $0.073 on 9 October. Meteoric said it knew of no undisclosed news, pointing to higher profile since the Cobalt Canada deal, a newsletter write-up, conference presentations and a roadshow.
29 Sept 2017annual report● Neutral
Appendix 4G governance checklist lodged with the annual report for the year to 30 June 2017, stating the governance statement is current at 29 September 2017 and board-approved. Administrative filing with no new business information.
29 Sept 2017annual report● Neutral
Annual report for year to 30 June 2017 confirms shareholders approved the Cobalt Canada acquisition on 14 August 2017 and both raising tranches were completed. Issued capital stood at 461.2m shares. The financial figures are not in the text provided.
21 Sept 2017director officer appointment● Neutral
Max Nind, with 30 years of exploration experience including Western Mining's Kambalda nickel operations, was appointed Exploration Manager to run the Canadian program. Part of the post-acquisition management build-out.
7 Sept 2017director officer appointment● NeutralMajor
Shastri Ramnath, CEO of Orix Geoscience, joins as Technical Director from 1 October 2017. George Sakalidis will resign as director at the 2017 AGM but stay as consultant on Warrego, Tennant Creek and Webb JVs.
1 Sept 2017asset acquisition disposition▲ GoodMajor
Meteoric bought a geological database of over 1,000 documents for 7.2m shares and CAD$165,500. Its land in the belt now exceeds 118 km2 (as stated), covering 24 of the 36 targets. Reprocessing has begun, with first results expected within weeks.
25 Aug 2017asset acquisition disposition▲ GoodMajor
Meteoric staked 138 claims covering 82.53 km2 in the Baby segment of the Belleterre-Angliers belt, adding 13 of the 36 electromagnetic targets and capturing the whole 4km x 1km Geoffrey anomaly. Metallurgical testing has begun, with results expected within two months.
21 Aug 2017other▲ Good
Orix Geoscience's regional review of old Falconbridge reports found 36 electromagnetic targets in the Baby segment, 11 at Midrim. Only 6 have been drilled, 5 with significant intersections. Falconbridge saw prospects for several 3-5Mt deposits; this is historical opinion, not a Meteoric resource.
24 July 2017drilling result▲ Good
Re-testing of Midrim's old drill core by XRF (portable scanner) confirmed historical grades, including 20.3m at 2.92% copper, 1.81% nickel and 2.68g/t platinum-palladium. These are historical results, not new drilling. Untested core will be assayed after the acquisition completes.
17 July 2017asset acquisition disposition▲ GoodMajor
Meteoric finished legal and technical due diligence and will proceed with buying Cobalt Canada, giving 100% of Midrim, La Force, Mulligan and Iron Mask. The Iron Mask claims were granted. An extraordinary general meeting on 14 August will vote on the deal.
