Each one in plain English, with the numbers worked through for a shareholder.
16 Apr 2014farm in farm out agreement● NeutralMajor
GeoCrystal elected to sole-fund the second Webb earn-in, spending $1.5m for another 19%. Meteoric's interest would fall to 30% of the Webb tenements and 24% of the Mt Webb tenement. Drilling of up to 50 targets to follow.
14 Apr 2014other▲ Good
Third-party release: Chalice raised its GeoCrystal holding to 24%, buying 4.25m shares at 20c as part of a $1m placement. Proceeds fund Webb airborne surveys and up to 6,000m of RC drilling on up to 50 targets. Ten kimberlites confirmed.
5 Mar 2014half year report● Neutral
Half-year to December 2013 loss was $383,699, against $484,252 a year earlier. Report restates Webb findings and Meteoric's Webb interest (49%, with right to acquire 44% of E80/4506) and the Blaze Barkly farm-in. No new developments.
6 Feb 2014drilling result▲ GoodMajor
First microdiamonds at Webb: one in each of 4 of 67 loam samples and one in an aircore drill sample. Indicator minerals appear in 30 samples across a 20km anomaly. Company calls results preliminary. Answers the earlier lack of microdiamonds.
30 Jan 2014quarterly activities report● Neutral
December quarter: Webb drilling reached 24 holes on 16 kimberlite targets, with results due next month. GeoCrystal says it earned 51% of Meteoric's Webb interest. Warrego data review done. Cash figure not visible in the text provided.
28 Nov 2013capital raising announcement● Neutral
Shortfall shares issued, completing the rights issue: fully paid shares now 113,253,682, with 27.5m contributing shares unchanged. Closes the rights issue thread; about $422,000 gross raised in total.
26 Nov 2013admin correction● Neutral
Meteoric issued the 4.46m rights issue shares taken up by shareholders, lifting fully paid shares to 102.08m. The 11.18m underwritten shortfall shares are still to be issued. Administrative quotation notice.
21 Nov 2013capital raising announcement● Neutral
Rights issue closed with shareholders taking up only 4.46m of 15.64m shares (28.5%, $120,512). The remaining 11.18m shares ($301,763) fall to underwriter CPS to place by 27 November, so the full raise is expected to be met.
31 Oct 2013asset acquisition disposition● NeutralMajor
Meteoric agrees to transfer its 51% Tibooburra (NSW) interest to JV partner Awati. It gets $150,000 only on a later sale, production or Awati IPO (plus $150,000 of Awati shares if an IPO), and a 2% net royalty. Little near-term cash.
21 Oct 2013capital raising announcement● Neutral
Replacement shareholder letter confirms the rights issue price was cut to $0.027 from $0.0275 to comply with ASX rules, raising about $422,275. Post-offer fully paid shares would be 113.25m. Costs about $45,000. Re-issue of prior terms.
18 Oct 2013capital raising announcement● Neutral
Shareholder letter on the rights issue: 1-for-8 at $0.0275, about $430,095, fully underwritten by CPS, with about $45,000 in costs. Proceeds fund exploration, acquisition due diligence and working capital. 5m underwriter options are to be issued. Largely repeats prior notices.
18 Oct 2013capital raising announcement● Neutral
Replacement compliance notice for the 1-for-8 rights issue: about 15.64m shares, now priced at 2.7 cents to raise about $422,275, fully underwritten by CPS. Underwriter must keep any shortfall holder below 10% voting power. Administrative update to the earlier terms.
What it means for a shareholder
15.6m new shares at $0.027 to raise about $422,275. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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18 Oct 2013admin correction● Neutral
Rights issue timetable amended: offer closes 13 November 2013 (the offer document said 15 November), with shares issued 21 November. Administrative.
18 Oct 2013capital raising announcement● Neutral
Replacement offer document for the rights issue: about 15.64m shares at $0.027 (down from $0.0275) to raise up to about $422,275, underwritten by CPS. Offer opens 6 November and closes 15 November. Re-issue of terms already announced.
What it means for a shareholder
15.6m new shares at $0.027 to raise about $422,275. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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17 Oct 2013capital raising announcement● Neutral
Offer document for the 1-for-8 non-renounceable rights issue: about 15.64m shares at $0.0275 to raise up to about $430,095, underwritten by CPS Capital. Offer closes 15 November 2013 per this document. Formalises the August announcement.
What it means for a shareholder
15.6m new shares at $0.0275 to raise about $430,095. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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16 Oct 2013quarterly activities report● Neutral
September quarter report repeats the Webb kimberlite findings and says drilling has resumed on up to 20 more targets. Fully paid shares now 97,613,867. Cash figure not shown in the text provided.
27 Sept 2013annual report● Neutral
Annual report for year to 30 June 2013 describes Meteoric as a gold, iron, base metal and diamond explorer, highlighting Barkly progress and the Webb kimberlite discovery. Shares on issue are 97.6m fully paid. Financial figures not visible in the text provided.
26 Sept 2013admin correction● Neutral
Registered office moved to Ground Floor, 22 Delhi Street, West Perth; phone and postal address unchanged, new fax number. Administrative only.
25 Sept 2013drilling scheduled● Neutral
Aircore drilling resumes at Webb to test a further 15 to 20 of the 80-plus magnetic targets, about 1,500-3,000m over three weeks, plus 40 regional loam samples to look for a microdiamond halo. Follows the interrupted June programme.
3 Sept 2013drilling result▲ Good
Petrology classified the Webb intrusions as altered kimberlite, and indicator mineral chemistry suggests some grains came from conditions favourable to diamond formation. No microdiamonds yet, with only 144kg processed. Supports the August discovery; drilling resumes in September.
2 Sept 2013farm in farm out agreement▲ Good
Blaze International released its side of the Barkly farm-in: it may earn 50% by spending $250,000 before March 2015, a further 20% for $350,000 by March 2017, and 10% more by funding to feasibility. Blaze is raising $420,000. Duplicates Meteoric's own release.
2 Sept 2013farm in farm out agreement▲ GoodMajor
Meteoric farms out Barkly copper-gold to Blaze International: Blaze can earn 50% by spending $250,000 before March 2015, then 20% more for $350,000 by March 2017, up to 80% if it funds to feasibility. Resolves the farm-out talks needed to fund Bluebird drilling.
29 Aug 2013capital raising announcement● NeutralMajor
Meteoric will raise up to $746,345 at 2.75 cents a share: an 11.5m-share placement ($316,250) plus a 1-for-8 underwritten rights issue (about 15.6m shares, $430,095). CPS Capital is lead manager; underwriting agreement still being finalised.
What it means for a shareholder
15.6m new shares at about $0.0478 to raise about $746,345. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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1 Aug 2013drilling result▲ GoodMajor
Webb aircore drilling confirmed a new kimberlite field, potentially 400 sq km; five holes returned kimberlite-consistent chemistry with indicator minerals. No microdiamonds yet. Joint venture tenements doubled to 1,000 sq km; drilling resumes in September. Builds on the GeoCrystal earn-in.
24 July 2013quarterly activities report● Neutral
June quarter: Meteoric is negotiating to farm out Barkly to fund Bluebird drilling. Tibooburra sale was not completed, so it is progressing the Awati JV instead. Webb aircore tested seven targets (519m), two holes failed. Sipa withdrew from Warrego.
30 Apr 2013quarterly activities report● Neutral
March quarter: Michael Robson is now chairman. Board is reviewing all Barkly exploration; Tibooburra sale talks progressing. GeoCrystal completed its funding trigger and may earn 70% of Webb for $1.5m within four years, with drilling expected June/July. Golden Valley relinquished.
15 Mar 2013half year report● Neutral
Half-year to 31 December 2012: loss of $484,252, down from $698,271. Records Roger Thomson's resignation as director on 29 November 2012 and the three new directors. Operations repeat known Bluebird results and the Tibooburra divestment.
30 Jan 2013quarterly activities report▼ BadMajor
December quarter: cash $603k. Meteoric decided to divest its 51% Tibooburra interest after a review, reversing earlier plans to keep earning in. GeoCrystal's Webb deadline changed to raising funds by 1 February 2013. Bluebird drilling results repeated.
29 Jan 2013security holder rights change● Neutral
Meteoric plans to sell small shareholdings worth under $500 to cut registry costs, via CPS Securities. Holders who want to keep shares must return a retention notice by 13 March 2013. Administrative; no change for larger holders.
19 Dec 2012director officer appointment● NeutralMajor
Graeme Clatworthy (Executive Director), Neville Bassett and Michael Robson were appointed to the board at the 29 November 2012 AGM, restructuring management. Sakalidis and Thomas are now non-executive; Roger Thomson no longer listed as a director.
