Each one in plain English, with the numbers worked through for a shareholder.
20 Apr 2011asset acquisition disposition● NeutralMajor
Meteoric has acquired a 500 sq km package of West Arunta licences over 50+ magnetic anomalies that may be kimberlite or lamproite pipes. Targets are conceptual, untested and need an access agreement; the company is considering a joint venture with a diamond explorer.
16 Mar 2011half year report● Neutral
Half-year loss to 31 December 2010 was $845,684, versus $822,574 a year earlier. Report restates Coorara, Robinson Range, Webb and Tibooburra activity already announced.
25 Feb 2011drilling result▼ BadMajor
First Coorara RC drilling (22 holes, 1,455m) confirms goethite-hematite in the weathered zone, but thicknesses are generally lower and silica higher than surface sampling suggested. Three holes await logging; heavy rain interrupted drilling. This is a softer result than the surface samples implied.
14 Feb 2011investor presentation● Neutral
Meteoric highlights neighbour Macarthur Minerals' positive scoping study at Lake Giles, which lies along strike from Coorara. It compares Macarthur's $100m market value with Meteoric's $15m. Coorara drilling results are expected within a month.
31 Jan 2011quarterly activities report● Neutral
December quarter report: cash is $1.4m. Repeats Coorara mapping, sampling and gravity results, and notes the initial RC drilling has begun. Tibooburra follow-up drilling is being planned.
27 Jan 2011capital raising announcement● NeutralMajor
Meteoric places 6,000,000 shares at $0.15 to raise $0.9m via CPS Securities, with 4,000,000 free contributing shares attached. Cash and investments will be $2.1m after costs. Funds go to Coorara iron drilling and working capital.
What it means for a shareholder
6.0m new shares at $0.150 to raise about $900,000. 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.
14 Jan 2011drilling scheduled▲ Good
Mapping and a trial gravity survey outline at least 4.5km of drilling targets at Coorara. A 3,000m RC drilling programme is expected to start within a week, subject to permitting. Mapping also suggests potential for channel iron deposits.
24 Dec 2010other● Neutral
Updated securities trading policy, reviewed 23 December 2010, restating insider trading rules and director dealing notification within 3 days. Administrative document with no new business information.
20 Dec 2010joint venture update● Neutral
Black Ridge extends by one month its decision on whether to exercise its option over Meteoric's Four Corners Well licence E57/760. Exercising would earn up to 60% for $1m of spending over three years. It has spent the $100,000 required in the option period.
16 Dec 2010drilling result▲ Good
Rock-chip traverses at Coorara return composites up to 35m at 58.9% Fe; 83 of 194 samples exceeded 55% Fe. These are surface samples used to pick drill targets. Drilling is expected to start in January 2011, and the company calls Coorara a priority.
24 Nov 2010investor presentation● Neutral
AGM presentation repeats known projects. It gives Coorara exploration targets of 100Mt hematite and 1 billion tonnes magnetite (conceptual, not a resource) and shows cash of $1.7m. It also notes a 61,600oz gold resource at Wilthorpe.
17 Nov 2010drilling result▲ Good
More Coorara rock sampling gives up to 65.8% Fe; the 30 higher-grade samples average 60.7% Fe, suggesting possible direct-shipping grades over 12km. Flora surveys are under way and drilling is expected to start December/January. Surface samples only, no drilling yet.
15 Nov 2010drilling result▲ Good
Tibooburra soil and stream sampling (1,818 soil, 733 stream samples) outlines four gold-arsenic-antimony anomalies, the largest 5km long (Kink). Further sampling comes next, then RAB drilling in the new year after permitting. Earn-in terms are stated as up to 75% for $1.5m over six years.
29 Oct 2010quarterly activities report● Neutral
September quarter report: cash fell to $1.9m from $2.6m. Coorara aeromagnetics are complete, five priority hematite areas span over 12km, and drilling preparations are underway. Webb T2 gravity survey and Tibooburra geochemistry are done. Mostly restates known results.
30 Sept 2010annual report● Neutral
Annual report for the year to 30 June 2010 describes Meteoric as a gold, iron and base metal explorer. It repeats the Coorara results (63 of 236 samples over 50% Fe, five priority zones) and Webb work already announced.
23 Sept 2010admin correction● Neutral
Black Ridge corrects a typographical error in the hole UHC 106 results in its 22 September Unaly Hill release. Otherwise a re-release of the same drilling results.
22 Sept 2010drilling result▲ Good
Black Ridge reports drilling at Unaly Hill, including 5 holes (850m) on Meteoric's adjacent Four Corners Well licence E57/760, with iron and vanadium intercepts up to 104m. Black Ridge plans a scoping study. Partner's announcement; Meteoric keeps 40% if the earn-in completes.
16 Sept 2010drilling result▼ BadMajor
First Webb T1 diamond hole (604m) hit no massive hematite, breccia or significant sulphides; best was 5m at 0.04% copper. Further T1 drilling awaits modelling. T4 and T5 (>5,000nT) anomalies advance, with gravity surveys and a heritage survey planned.
8 Sept 2010drilling result▲ Good
Final Coorara assays: 63 of 236 rock samples (26%) exceeded 50% Fe, defining five priority hematite zones each over 1km long. Mapping comes next to select drill targets. Surface sampling only; no drilling yet.
1 Sept 2010drilling result▲ Good
First Coorara rock sampling shows widespread hematite-goethite alteration, with listed samples at 50.8-62.2% Fe. Geological mapping is about to start to define drill targets, 50km from the railway. Early surface sampling, not drilling.
30 July 2010quarterly activities report● Neutral
June quarter report: cash is $2.6m. It restates the Coorara, Robinson Range and Tibooburra deals, the first Webb diamond hole and aeromagnetic surveys, and Unaly Hill South drilling planned. Coorara mapping and sampling is about to begin.
2 July 2010farm in farm out agreement▲ GoodMajor
Meteoric can earn 51% of 600sq km of Tibooburra goldfield tenements in NSW by spending $500,000 in three years, then 24% more for $1m. It can exit after $60,000 of sampling. Historic production was at least 60,000oz; sampling has begun.
24 June 2010drilling scheduled● Neutral
Meteoric commissions a 2,500 line-km aeromagnetic survey over Coorara's 40km iron formation, starting within a week, to find hematite and magnetite targets. It plans to accelerate exploration, citing neighbours' hematite resources. No new results yet.
21 June 2010asset acquisition disposition▲ GoodMajor
Meteoric acquires 100% of licence E52/2412 next to its Robinson Range iron project, with 250,000 shares plus 1 million on transfer, and 1 million more on a mine decision or sale. First Webb T1 diamond hole (500m) has started.
31 May 2010asset acquisition disposition▲ GoodMajor
Meteoric agrees to acquire 100% of the 148sq km Coorara iron licence in WA, with a 40km banded iron formation and no prior iron drilling. It sits along strike from a 1.05 billion tonne magnetite resource. A new iron ore thread beyond Webb.
21 May 2010drilling scheduled▲ GoodMajor
Aeromagnetic surveys define three drill targets at the 2.5km-long T1 IOCG body, with holes over 500m deep needed. Drilling is due to start in the first week of June. A very strong 5,000nT anomaly at T5 is also identified.
19 May 2010farm in farm out agreement● Neutral
Black Ridge Mining's own announcement of the Unaly Hill South agreement with Meteoric, repeating terms Meteoric also released. It can earn 60% by spending $1m in three years, with $100,000 minimum in six months.
19 May 2010farm in farm out agreement▲ GoodMajor
Agreement in principle lets Black Ridge earn 60% of Meteoric's Unaly Hill South licence for $1m within three years, rising to 70% for a further $0.5m. Meteoric keeps gold and silver rights. First Webb IOCG drilling is due at the end of May.
30 Apr 2010quarterly activities report● Neutral
March quarter report: diamond drilling at T1 is expected to start in late May, with three holes of about 400m planned. Agreement in principle is reached with the Ngururrpa people for access to targets T4 and T5. Cash is $2.8m.
16 Mar 2010drilling scheduled● Neutral
Meteoric plans airborne magnetic surveys in April, then drilling of the main T1 IOCG target in May. Infill sampling confirmed isolated gold values up to 67ppb but no large coherent gold anomaly. Robinson Range access talks continue.
