Each one in plain English, with the numbers worked through for a shareholder.
6 July 2017drilling result▲ Good
Due diligence on La Force, a nickel-copper project in Quebec that comes with the Cobalt Canada deal, verified the claims and found 3,500m of stored core never assayed. Historical drilling is valued at over AU$3.5m. Adds a fourth project to the acquisition; no new assays.
26 June 2017drilling result▲ Good
Due diligence on the Mulligan and Iron Mask cobalt claims in Ontario verified the claims, located the site of an historical 8-tonne bulk sample averaging 10% cobalt, and found old drill logs with up to 0.6% cobalt. Historical results only; no new assays.
16 June 2017drilling result▲ GoodMajor
Chalice's first Parakeet hole at Warrego North returned 8m at 1.74% copper and 0.42g/t gold from 249m, a discovery on ground Meteoric farmed out. The second hole hit no visible sulphide. A 3D IP survey is planned for July 2017 to guide follow-up drilling.
15 June 2017drilling result▲ Good
Due diligence at Midrim found about 32,000m of old drill core in good condition, with randomly selected holes showing over 20m of massive to disseminated sulphide. Core is available for re-assay and an XRF program will start. No assay results given yet.
7 June 2017material agreement● Neutral
Meteoric engaged Canadian consultant Orix Geoscience to do technical due diligence on the Midrim, Iron Mask and Mulligan cobalt projects. It will also work with Exiro Minerals on claim expansion and has a first right of refusal on Canadian cobalt projects via Advantage Management.
26 May 2017capital raising announcement● Neutral
Meteoric issued 25,209,741 shares under its 7.1A capacity (9.05% dilution), taking shares to 278.48 million, alongside a further 37,990,259 under 7.1. CPS Capital fully underwrites, with 6% commission. This is the first tranche of the $0.011 raising.
26 May 2017other● Neutral
ASX notified that Meteoric's trading suspension will lift from the start of trading on 29 May 2017, following the cobalt acquisition announcement. Administrative notice only.
26 May 2017asset acquisition disposition● NeutralMajor
Meteoric will buy Cobalt Canada, which holds rights to three Canadian cobalt and polymetallic projects (Midrim, Mulligan, Iron Mask), for 60 million shares and $30,000 cash. It plans an underwritten raising of about $1.386m at $0.011 per share. Completion depends on shareholder approval and due diligence.
22 May 2017other● Neutral
Meteoric's shares were suspended at its request pending an announcement on a proposed acquisition of several exploration packages (trading halt of 18 May) and on Chalice's drilling at Warrego North. Suspension was to last no later than 24 May.
22 May 2017drilling progress report▲ GoodMajor
Chalice reports its first Parakeet hole at Warrego North, on Meteoric's farm-in ground, intersected copper sulphide (chalcopyrite) in magnetite ironstone at 249-258m. The hole was still drilling toward about 350m. Assays are expected in about three weeks.
16 Mar 2017half year report● Neutral
Half-year to 31 December 2016 shows a loss of $174,095 (previous year $480,624). The $455,000 placement at $0.0091 was issued after period end. Webb (19% plus 16% of E80/4506, diluting) and Warrego North updates repeat known information.
15 Feb 2017capital raising announcement● NeutralMajor
Meteoric agreed a placement of 50 million shares at $0.0091 each to raise $455,000, handled by CPS Capital. Funds are for existing projects, new opportunities and working capital. Issued under the approval given at the 18 November 2016 AGM.
What it means for a shareholder
50.0m new shares at $0.0091 to raise about $455,000. 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.
12 Dec 2016drilling result● Neutral
Radar trials at Webb interpret drilled target KJ244 as a 2ha pipe and undrilled KJ52 and KJ62 as 4ha and 7ha pipes. Radar will help prioritise drilling of the 42 northern targets in the 2017 field season. Repeats the 7 December result, now with the JORC table.
7 Dec 2016drilling result▲ GoodMajor
Radar trials at Webb interpreted undrilled targets KJ52 and KJ62 as kimberlite pipes of 4ha and 7ha. Drilled target KJ244 is reinterpreted as a 2ha pipe. Radar will help prioritise drilling of the 42 targets, now expected in the 2017 field season, not 2016.
30 Sept 2016annual report● Neutral
Annual report for the year to 30 June 2016 restates known Webb results: 24 microdiamonds, two hot spots, 42 untested targets, with drilling expected later in the year. Fully paid shares are 203.27 million. Financial figures are not visible in the text provided.
30 Sept 2016admin correction● Neutral
Corporate governance checklist (Appendix 4G) lodged with the annual report, stating the governance statement is current at 29 September 2016. Administrative filing with no new substance.
20 Sept 2016auditor change● Neutral
Greenwich & Co Audit replaced Somes Cooke as auditor after Somes Cooke resigned following their merger. Shareholders will vote on the appointment at the 2016 AGM. This is administrative.
15 June 2016farm in farm out agreement▲ GoodMajor
Meteoric farmed out Warrego North to Chalice's subsidiary, which can earn 70% by spending $800,000 within five years: 51% for $400,000 in three years, then 19% more. Chalice must drill at least one deep hole at Parakeet in year one. This resolves the open Bulletin earn-in status.
15 June 2016farm in farm out agreement▲ Good
Chalice's own announcement of the Warrego North farm-in: it can earn 70% by spending $800,000, with 2 holes (800m) planned at Parakeet within 4-6 weeks, subject to approvals. This duplicates Meteoric's own release of the same day.
5 May 2016price query● Neutral
ASX queried a rise in the share price from $0.011 to an intraday $0.018 with higher volume. Meteoric said it knew of no unannounced information and is in compliance. It said it is still seeking joint venture partners for projects not yet in a JV.
27 Apr 2016drilling result▲ GoodMajor
Latest Webb loam results add 5 microdiamonds, making 24, with about 80% in the north and two 'hot spots'. 42 untested kimberlite targets are in the cluster, with drilling expected later in 2016. Meteoric's interest is now 19% and diluting.
22 Mar 2016other▲ Good
The $250,000 exclusivity fee paid to People Post has been returned to Meteoric after the deal collapsed. The company says it continues to review its exploration tenements and new minerals and industrial opportunities.
17 Mar 2016material agreement termination● NeutralMajor
Meteoric and People Post agreed not to proceed with the acquisition announced on 1 February 2016. This ends the short-lived move into delivery services; no reason is given beyond the due diligence heading.
15 Feb 2016investor presentation● Neutral
Meteoric released a presentation promoting the proposed People Post acquisition, a delivery app compared to Uber and Airbnb. It repeats the 1 February announcement with no new transaction terms visible.
1 Feb 2016business combination● NeutralMajor
Meteoric signed a binding heads of agreement to acquire People Post, a courier and delivery app platform. This is a move outside mineral exploration. Price and terms are not visible in the text provided.
27 Jan 2016other● Neutral
Registered office and principal place of business moved to 10 Outram Street, West Perth, effective 27 January 2016. Administrative notice only.
25 Nov 2015security holder rights change▼ BadMajor
The auction sold none of the forfeited partly paid shares and raised nothing, so they will be cancelled. This ends the $0.20 call without the roughly $5.5 million it sought. The announcement quotes 27,490,014 and 27,904,014 shares inconsistently.
24 Nov 2015security holder rights change● Neutral
Update before the auction: no funds have been received, so 27,490,014 forfeited shares remain for sale. Directors set a reserve price of $0.05 per share.
24 Nov 2015material agreement● NeutralMajor
Meteoric hired Otsana Capital as corporate adviser for 12 months from 18 November 2015. Otsana gets 15 million shares now, 11 million more on a successful transaction, plus a 1% fee on money raised and 5% on capital it introduces.
6 Nov 2015security holder rights change▼ BadMajor
Following non-payment of the $0.20 call due 14 October, the company will auction up to 27,490,014 forfeited partly paid shares on 25 November 2015. This shows the call raised little or nothing from holders; the shares were previously due to raise up to $5.5 million.
