15 Mar 2010half year report● Neutral
Half-year to 31 December 2009 shows a comprehensive loss of $822,574, against a net loss of $225,254 a year earlier. The review of operations repeats the Webb results already announced.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Jan 2010quarterly activities report● Neutral
December quarter report repeats the Webb results: a 3km IOCG target warranting drilling, and failure to duplicate the survey's gold anomalies. Remaining Tennant Creek tenements are farmed out and a $1.88m placement is done. Cash is $3.1m.
13 Jan 2010drilling result▼ BadMajor
Meteoric's Webb sampling could not repeat the Geological Survey's strong gold values, and 112 shallow RAB holes (1,091m) found no significant gold. That undercuts the 80sq km gold anomaly thesis. A 3km-long IOCG gravity and magnetic target now becomes the focus, with drilling envisaged for March or April 2010.
23 Nov 2009farm in farm out agreement▲ GoodMajor
Sipa Resources enters a farm-in with Meteoric over Tennant Creek tenements (about 150sq km). Sipa can earn 51% by spending $600,000 in three years, or 70% for $1.2m in five years. This advances Meteoric's plan to farm out non-core projects.
30 Oct 2009quarterly activities report● Neutral
September quarter report: heritage survey clears most Webb target areas, and field work on the 80sq km gold target is about to start. Tenement interests in the region exceed 2,500sq km. Cash is $1.8m after the $1.1m raised.
20 Oct 2009drilling result▲ Good
Sampling on the Beadell JV ground found a 7km-long gold anomaly in the southern Webb area, peaking at 4.9ppb gold against under 1ppb background. Further sampling and, subject to permits, scout drilling are planned. Early-stage result, not a drill intersection.
15 Oct 2009capital raising announcement▲ GoodMajor
Meteoric agrees to place 9,310,000 shares at $0.20 (about $1.8m) with Indian Ocean Capital, up from $0.15 in September. A further 4,655,000 contributing shares need AGM approval. Cash and liquid investments reach $3.3m after costs.
What it means for a shareholder
9.3m new shares at $0.200 to raise about $1.8m. 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.
29 Sept 2009annual report● Neutral
Amended version of the annual report to 30 June 2009 already issued on 29 September. The visible text repeats the Webb gold anomaly, the Cazaly and Beadell JVs and the 2,000sq km land position. The nature of the amendment is not stated in the readable text.
29 Sept 2009annual report● Neutral
Annual report to 30 June 2009 highlights a land position over 2,000sq km in the West Arunta, built around the Webb gold anomaly and the Cazaly and Beadell IOCG joint ventures. Largely repeats announcements already made.
23 Sept 2009capital raising announcement● Neutral
Administrative notice that the 7,500,000 shares at $0.15 are issued, with net proceeds of $1,125,000. A further 3,750,000 contributing shares depend on shareholder approval at the AGM. No new information.
What it means for a shareholder
7.5m new shares at $0.150 to raise about $1.1m. 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.
16 Sept 2009capital raising announcement▲ GoodMajor
Meteoric agrees to place 7,500,000 shares at $0.15, about $1.1m, with one contributing share for every two shares subscribed, subject to shareholder approval. This is almost three times the April price of $0.055. Cash and investments reach $1.8m.
What it means for a shareholder
7.5m new shares at $0.150 to raise about $1.1m. 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.
31 Aug 2009farm in farm out agreement▲ GoodMajor
Agreement in principle with Beadell Resources on four licences (840sq km) near Webb. Meteoric can earn 51% by spending $400,000 within three years, and up to 70% with a further $400,000. It must complete 7,000m of drilling within the first year.
31 Aug 2009farm in farm out agreement● Neutral
Beadell's own announcement of the Lake Mackay farm-in with Meteoric, repeating the terms already released: 51% for $400,000 in three years, up to 70% with a further $400,000. It adds that Beadell won an $86,000 WA government drilling subsidy.
17 Aug 2009farm in farm out agreement▲ GoodMajor
Agreement in principle with Cazaly's subsidiary Sammy Resources on four licences near Webb with copper-gold (IOCG) targets. Meteoric can earn 70% by drilling 1,000m within three years, or 90% by issuing $300,000 of shares. Subject to native title holder consent.
29 July 2009quarterly activities report● Neutral
June quarter report: Webb licence grant expected August or September, with fieldwork to follow. Meteoric's Scorpion Well and Mt Remarkable interests fall to 37.5% after it stopped sole funding, and Top Well was excluded from the Image JV with no retained interest. Cash is $0.9m.
22 June 2009director officer appointment● Neutral
Company secretary Robert Lewis resigned and Rudolf Tieleman was reappointed to the role, with the company noting his involvement since its inception. Administrative change.
3 June 2009regulatory community update▲ Good
A land access agreement is signed with Kiwirrkura elders for the Webb gold target, paving the way for licence E80/4234. Heritage survey is planned for mid-June, with fieldwork expected from August. A further 75sq km licence is applied for.
30 Apr 2009quarterly activities report● NeutralMajor
March quarter report: agreement in principle with traditional owners for access to Webb, and a heritage agreement signed at Robinson Range. Emmerson will sole-fund Barkly, diluting Meteoric from 70%; about $950,000 spending takes it to 30%. Meteoric seeks to farm out other projects to focus on Webb and Robinson Range.
29 Apr 2009capital raising announcement● Neutral
Administrative notice that the 6,618,182 shares at $0.055 (net $364,000) announced on 6 April are being issued, with the usual secondary-sales disclosure statement. No new information.
What it means for a shareholder
6.6m new shares at $0.055 to raise about $364,000. 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.
6 Apr 2009capital raising announcement● NeutralMajor
Meteoric placed 6,618,182 shares at $0.055 to raise $364,000, lifting cash and liquid investments to just over $1m. Funds are mainly for Webb gold and Robinson Range iron exploration. Fully paid shares on issue rise to 50,815,290.
What it means for a shareholder
6.6m new shares at $0.055 to raise about $364,000. 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.
26 Mar 2009asset acquisition disposition▲ GoodMajor
Meteoric confirms priority right of application over a 10km x 8km gold anomaly at Webb in the West Arunta, WA, the largest in a 6,500sq km government survey. It applied for three licences (760sq km). Unexplored, and access negotiations are still under way.
13 Mar 2009half year report▼ Bad
Half-year to 31 December 2008 shows a net loss of $225,254, against a $77,296 profit a year earlier. The directors' report repeats the Robinson Range, Barkly (70%) and Ruby Well termination updates already reported.
30 Jan 2009quarterly activities report● Neutral
December quarter report: a revised heritage agreement was lodged with the Jidi Jidi Aboriginal Corporation for Robinson Range, aiming to open access. The Ruby Well joint venture with Peak Resources was terminated and the tenement relinquished. Cash is $0.8m; Emmerson talks on Barkly continue.
31 Oct 2008quarterly activities report▼ BadMajor
September quarter report: cash is $0.8m (down from $1.7m a year earlier). Meteoric is seeking to farm out or sell the 61,600oz Wilthorpe project and farm out Warrego North and Scorpion Well, whose survey was deferred. Barkly has reached 70% earn-in.
30 Sept 2008annual report▼ Bad
Annual report to 30 June 2008 calls 2008 'frustrating', with Robinson Range access delayed by native title issues. Meteoric holds 30% of the Image joint venture projects. The 61,600oz Harrods resource and the Scorpion Well nickel channel concept are repeated.
30 July 2008farm in farm out completion● NeutralMajor
Meteoric has reached the 30% earn-in on the Image joint venture (Scorpion Well, Mt Remarkable, Top Well) and elects to go to 51% by spending a further $200,000 by late 2010. Robinson Range suffered a setback as the Jidi Jidi Aboriginal Corporation rejected the amended heritage agreement.
30 Apr 2008quarterly activities report● Neutral
March quarter report: the 4,000m Scorpion Well drilling found gold and nickel-copper anomalies worth follow-up. Robinson Range access talks progress slowly, and Bluebird and Jarbora Hill drilling were deferred for lack of rigs. New applications at Corktree Hill and Four Corners.
3 Apr 2008investor presentation● Neutral
Meteoric points to nickel potential at Top Well, 25km from the Mt Alexander discovery, and plans ground magnetic and electromagnetic surveys. It is close to the $300,000 first earn-in (30%) of the Image joint venture. No new drilling result.
14 Mar 2008half year report▲ Good
Half-year to 31 December 2007 shows a profit of $77,296, against a $717,991 loss a year earlier. The directors' report repeats Robinson Range, Scorpion Well and Harrods drilling already announced.
31 Jan 2008quarterly activities report● Neutral
December quarter report: a preliminary analysis suggests parts of the 61,600oz Harrods resource may be economic above US$800/oz via shallow pits and toll treatment. Robinson Range access is still blocked; RAB drilling at Scorpion Well and Jarbora Hill and Bluebird drilling are planned.