Past year: ▼ 33%(0.20c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
10 Nov 2016capital raising announcement▼ BadMajor
NAE cancelled its proposed capital raising, announced after a 8 November trading halt, citing market volatility and advice from its lead manager. No size or price was disclosed. Funding for planned work stays uncertain until a later raising.
4 Nov 2016director officer appointment▲ Good
The Redmoor joint venture hired Jeffrey Harrison, a former Wolf Minerals operations manager, as Community Advisor to handle local engagement and land access for drilling planned in the first half of 2017.
28 Oct 2016joint venture update▲ Good
Redmoor partner SML raised £600,000 at 0.4p in an oversubscribed placing, partly to fund its remaining Redmoor option payment. This improves the odds SML completes the option and funds the drilling.
28 Oct 2016quarterly activities report▲ Good
September 2016 quarter: cash A$1.108m. RCF took 15.7m shares at 1.5c in July. Redmoor option balance is £843,649 due by 15 Feb 2017, with 15-20 hole drilling planned for H1 2017. Otago permits granted; Lochinvar options under review as coking coal prices rise.
26 Oct 2016annual report● Neutral
Full 2016 annual report, re-lodged after the 29 September summary. Chairman's letter repeats known points: Redmoor JV, Lochinvar on hold pending sustained coking coal prices, NZ gold strategy, and cash of A$1.12m at 23 September. Full text not shown beyond the activities section.
24 Oct 2016investor presentation● Neutral
October 2016 company presentation repeating known Redmoor resource, studies and SML JV details. Lists RCF at 40.5%, 360m shares, A$5.8m market value at 1.6c, and cash of A$1.12m (23 Sept). No new results.
18 Oct 2016regulatory community update▲ GoodMajor
Both Otago South gold prospecting permits (Mahinerangi and Teviot, 876km2 total) were approved on 17 October, in under two months and faster than expected. A ~NZ$150,000 soil sampling and mapping program, stated as fully funded, starts mid-November.
17 Oct 2016price query● Neutral
ASX queried a share price rise from 1.4c to 1.7c. NAE said it knew of no undisclosed information, pointing to SML's share price doubling, tin prices up 34% this year and higher coking coal prices.
29 Sept 2016admin correction● Neutral
Appendix 4G corporate governance checklist lodged with the annual report. Administrative filing with no new information.
29 Sept 2016annual report● Neutral
Annual report to 30 June 2016: Redmoor JV with SML and the NZ gold permit applications are the focus. Lochinvar stays on hold but will be reconsidered if high coking coal prices (US$206/t) last. Cash was A$1.12m at 23 September 2016.
8 Sept 2016joint venture update● Neutral
Redmoor JV amended: SML pays £101,700 (A$178,000) in September for a further 7.3%, taking it to 16.4%, as part of the option. The option deadline is extended to 15 February 2017. The money funds pre-drilling work.
18 Aug 2016asset acquisition disposition▲ GoodMajor
NAE applied for two New Zealand gold prospecting permits (Mahinerangi and Teviot, 876 km2 in total) in Otago, accepted 11 August, with a decision expected in about 80 business days. It is the first step in a stated gold portfolio strategy, a new direction beyond tin and coal.
22 July 2016quarterly activities report▲ Good
June 2016 quarter: cash rose to A$989,000 (21 July) plus A$73,000 in SML shares, helped by the R&D refund. Lochinvar stays curtailed. NAE says it is evaluating gold opportunities alongside Redmoor, a strategy shift toward gold.
13 July 2016joint venture update▲ Good
SML completed its second tranche, paying £104,998 (A$183,000) for a 9.1% Redmoor JV interest; NAE received its 35m SML shares at 0.30p. SML has until 31 December 2016 to pay the £945,349 option; drilling targeted first half 2017.
5 July 2016other▲ GoodMajor
Lochinvar Coal Ltd received £456,729 (A$805,376) UK R&D tax relief for the Lochinvar coking coal project's 2014 and 2015 spending. It strengthens cash, though UK tax authorities can still make enquiries until May 2017.
26 May 2016farm in farm out agreement▲ GoodMajor
Strategic Minerals Plc (AIM) can earn 50% of Redmoor for A$2.145m total: A$214,000 upfront for 9.1% and A$1.931m option payment by 31 December 2016. This would fund the next drilling. NAE takes 35m SML shares; chairman Alan Broome also chairs SML.
28 Apr 2016quarterly activities report● Neutral
March 2016 quarter: Redmoor mining and processing studies completed with encouraging results, and a 29-hole Phase 1 drilling program designed. RCF's A$352,672 loan was received and pay cuts start 1 April. Repeats known items; no new cash figure in the extract.
15 Mar 2016investor presentation● Neutral
March 2016 Redmoor presentation restating the December 2015 Inferred Resource (13.3Mt @ 0.37% WO3Eq, 2.3Mt high grade) and Exploration Targets, with tin and tungsten market outlook (tin US$17,350/t on 9 March). No new results.
10 Mar 2016half year report▼ Bad
Half-year to December 2015 loss was $1,105,589 (vs $803,729), including a $680,930 exploration impairment. RCF paid $352,672 in March 2016 as an unsecured loan, and director and management pay will be cut further from 1 April.
8 Mar 2016other▲ GoodMajor
Preliminary Redmoor mining and processing studies were encouraging, with expected recoveries of 68% Sn and 72% WO3. A Phase 1 drilling program of 29 holes (11,920m) is planned. An internal evaluation covers stand-alone and toll processing options.
2 Mar 2016director officer appointment● Neutral
Non-executive director Gavan Rice resigned effective 2 March 2016. He held 400,000 shares and 1,250,000 unlisted options. No reason is given in the announcement.
29 Jan 2016quarterly activities report● Neutral
December 2015 quarter: restates the Redmoor resource upgrade. RCF took 15.8m shares at 1.5c (A$237,310). Cash was A$236,000 plus A$359,000 undrawn from RCF, A$595,000 in total, down from about A$904,000 a quarter earlier.
17 Dec 2015investor presentation● Neutral
Presentation of the 15 December Redmoor resource (13.3Mt @ 0.37% WO3Eq; 2.3Mt high grade) and Exploration Target. Outlines a planned 30-40 hole drilling program; no new results.
15 Dec 2015resource reserve update▲ GoodMajor
Redmoor Inferred Resource updated to 13.3Mt @ 0.37% WO3Eq (up from 9.1Mt in 2013), including 2.3Mt @ 0.80% WO3Eq high grade. A 4-6Mt high grade Exploration Target is added; a mining study is due late January.
26 Nov 2015admin correction● Neutral
Re-release of the 25 November Redmoor lodes announcement with a revised Competent Persons Statement. All other content is unchanged, so no new information.
26 Nov 2015admin correction● Neutral
Re-release of the 25 November Redmoor presentation with a revised Competent Persons statement on page 13. All other content is stated to be unchanged.
25 Nov 2015investor presentation● Neutral
Presentation repeating the 25 November Redmoor lode findings: 3 well-defined lodes, 12 lodes identified in total, and a resource update and mining study due December 2015. Notes Lochinvar remains curtailed. No new results.
25 Nov 2015drilling result▲ GoodMajor
A review of historic Redmoor records identified seven known high grade tungsten-tin lodes, three well defined (Great South, Johnsons, Kelly Bray). Great South averages 0.72% WO3Eq from 13 intercepts. A new resource is expected in December.
27 Oct 2015quarterly activities report● Neutral
September 2015 quarter: Lochinvar activities are curtailed and a technical and economic review of Redmoor is due in late 2015. Cash was $312,304 plus about $592,000 undrawn from RCF, about $904,304 available in total.
30 Sept 2015other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report. Compliance form with no new information for shareholders.
