Past year: ▼ 33%(0.20c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Oct 2012capital raising announcement▲ GoodMajor
New Age secures binding agreements for a $7.5m placement at 6.5 cents, including $455,000 from 7m shares announced 15 October. Resource Capital Fund V would rise to 19.9%, then 29% with later approvals. Funds Lochinvar (UK) and Colombian programs for a year.
4 June 2012asset acquisition disposition▲ Good
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1 June 2012other▼ BadMajor
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15 May 2012capital raising announcement● Neutral
The $1.165m placement of 11.65m shares at 10 cents to major shareholder Chee Siew Yaw is completed, finishing the raise that replaced the failed option underwriting. Shares on issue rise to 142,902,828.
What it means for a shareholder
11.7m new shares at A$0.100 to raise about A$1.2m. That's 8.2% dilution: every existing holder's slice gets 8.2% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00765% to 0.00703% of the company. To keep it you'd need 892 more shares - about A$89 at the issue price.
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18 Apr 2012drilling spud▲ GoodMajor
Phase 1 drilling begins at La Miel (Cesar Basin): three open-hole boreholes up to 850m each, contracted to LTG, to confirm coal seams. First hole is due mid June 2012 and the third early September, weather permitting. Funded from existing cash.
17 Apr 2012capital raising announcement● NeutralMajor
The underwriting fell through because Mr Yaw could not meet it in the timeframe. It is replaced by a placement of the same 11.65m shares at 10 cents ($1.165m), funds due by 14 May 2012. Only 616,739 listed options were exercised, raising $61,674.
What it means for a shareholder
11.7m new shares at A$0.100 to raise about A$1.2m. That's 8.2% dilution: every existing holder's slice gets 8.2% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00765% to 0.00703% of the company. To keep it you'd need 892 more shares - about A$89 at the issue price.
Create a free account to see this worked out for your own holding.
21 Mar 2012capital raising announcement▲ GoodMajor
New Age signs an underwriting agreement with major shareholder Chee Siew Yaw to exercise up to 11.65m listed options at 10 cents, raising up to $1.165m for Terranova feasibility and La Miel drilling. He would hold 19.9% if no other options are exercised.
15 Mar 2012investor presentation● Neutral
Notice that the Managing Director will present at the McCloskey Coal Conference of the Americas in Cartagena, Colombia on 14-15 March 2012. Contains no new information.
15 Mar 2012half year report● Neutral
Half year to 31 December 2011: loss of $1.08m (up 13%), revenue $80k, net tangible assets 2.6 cents per share (4.2 cents a year earlier). Repeats operating milestones. Subsequent events include Amundsen's appointment and small option issues.
22 Feb 2012security holder rights change● Neutral
Notice to holders of listed NAEO options: they must exercise at 10 cents by 5pm on 31 March 2012 or they lapse. Shares last traded at 9.5 cents, below the exercise price. Administrative reminder.
9 Feb 2012director officer appointment▲ Good
Mike Amundsen is appointed non-executive director. He was CEO of FerrAus (2009-10) and spent 28 years at BHP Billiton, including coal acquisitions. He holds no shares. The Chairman says he strengthens the board for the path to coking coal production by 2013.
30 Jan 2012investor presentation● Neutral
Investor roadshow presentation repeating known points: Terranova bankable study and permitting due by July 2012, about 2-year mine life, Stage Two target 30-58Mt, and La Miel drilling in Q2 2012. Share price A$0.10 on 24 January 2012. Nothing new.
25 Jan 2012drilling scheduled● NeutralMajor
Seismic interpretation puts the top of target coal at La Miel at 400-800m, with a 50-200Mt conceptual target. A phased drilling plan starts with 3 holes, expected Q2 2012. Deeper Cesar and GIK-103 projects (850-1,200m) are now under review, a step back from earlier Cesar plans.
14 Dec 2011other▲ GoodMajor
Scoping study for mechanising Terranova finds no fatal flaws: capital about US$20m, operating costs about US$120/t saleable coal (plus about US$20/t royalties), Stage One about 400ktpa. Board approves an immediate feasibility study; raw coal production is scheduled from end Q1 2013. Estimates are ±30%.
28 Nov 2011admin correction● Neutral
Administrative section 708A notice for the issue of 88,597 ordinary shares at 11 cents on 28 November 2011. No other information is given on why they were issued; no new substance.
18 Nov 2011admin correction● Neutral
Administrative section 708A notice covering the issue of 21,333,334 shares at 12 cents, the second tranche of the A$4m placement. Completes that placement; no new information.
9 Nov 2011investor presentation● Neutral
AGM investor presentation repeating the 3.6Mt Terranova resource, January 2013 production target and 250-1,000Mt Cesar target. Shows shares rising from 109.2m to 130.5m after the AGM. Nothing new.
9 Nov 2011resource reserve update▲ GoodMajor
Maiden JORC resource of 3.6Mt hard coking coal at Terranova (0.5Mt measured, 1.1Mt indicated, 2.0Mt inferred). Production of 365,000 tpa is now expected January 2013, six months later than planned because of permitting; the current mine life runs only to October 2014.
22 Sept 2011capital raising announcement▲ GoodMajor
New Age raises A$4 million through a placement of 33.3 million shares at A$0.12, a 9% premium to the prior close, to Resource Capital Funds and Mr Chee Siew Yaw. Funds go to Colombian projects and accelerating Subachoque coking coal; 21.3m shares await shareholder approval.
What it means for a shareholder
33.3m new shares at A$0.120 to raise about A$4.0m. That's 23% dilution: every existing holder's slice gets 23% smaller. If you held A$1,000 of shares (8,333 at the issue price), your slice goes from 0.00763% to 0.00585% of the company. To keep it you'd need 2,541 more shares - about A$305 at the issue price.
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16 Sept 2011annual report● Neutral
Annual report to 30 June 2011: the Chairman describes a transition to Colombian coal, with five deals in three months and Terranova production expected in 2012. Alquife iron ore is still being pursued through a small minority stake. Largely repeats known developments.
2 Sept 2011director officer appointment● Neutral
Jim Black, previously with Hyder Consulting, OZ Minerals, Zinifex and BP, is appointed Scoping Study Manager for the Terranova mechanisation project, which still targets at least 300ktpa within 12 months. A project-team appointment, not a board change.
19 Aug 2011investor presentation● Neutral
August 2011 Colombian coal investor presentation repeating known facts: five deals in three months, Terranova 300ktpa target within 12 months, and Subachoque target of 35-64Mt. Shows 97.2m shares on issue and a A$0.125 share price (about A$12.9m market value, per the text's snapshot).
17 Aug 2011other● Neutral
Notice of a Boardroom Radio interview with the Managing Director on the Colombian coal strategy and the Terranova agreement. No new information.
10 Aug 2011material agreement▲ GoodMajor
New Age signs a binding deal to mechanise and expand the Terranova hard coking coal mine, which now makes about 25,000 tonnes a year, targeting at least 300,000 tonnes a year within 12 months. Entry cost is US$20,000 plus US$7-12/t royalty. Moves the company toward production.
3 Aug 2011asset acquisition disposition▲ GoodMajor
Through the Aurora partnership, New Age agrees to buy 100% of the FL2-151 coking coal concession in the Subachoque Syncline, with a 10-18Mt conceptual target. Upfront payments are US$600,000 over 6 months; about 25% of the concession lies in a National Park. Subachoque target now 30-58Mt.
27 July 2011asset acquisition disposition▲ GoodMajor
New Age agrees to acquire 100% of concession application JBI-11091 (1,466 hectares) near Bogota, its first Colombian coking coal project, with initial payments of US$250,000 over 8 months. A conceptual target of 20-40Mt is stated. The concession is not yet granted.
6 July 2011investor presentation● Neutral
July 2011 update of the Colombian coal presentation. It states a strategy of a coal business producing at least several million tonnes a year, and a combined Cesar target of 250-1,000Mt across three concessions. Largely repeats known facts.
8 June 2011asset acquisition disposition▲ GoodMajor
New Age and Aurora agree to acquire the 2,544-hectare La Miel concession in the Cesar Basin, with a conceptual target of 50-200 million tonnes. Initial payment is US$100,000 cash plus US$100,000 in shares. Cesar holdings now total 6,675 hectares, 90% owned.
23 May 2011investor presentation● Neutral
May 2011 Colombian coal investor presentation repeating the Cesar Project's conceptual 200-800 million tonne target and the Colombian strategy. The target rests on old seismic data and comparisons with neighbouring mines, not drilling. No new announcement is evident in the visible text.
11 May 2011asset acquisition disposition▲ GoodMajor
Through the Aurora partnership (New Age 90%, Aurora 10%), New Age agrees to buy two Cesar Basin coal concessions in Colombia totalling 4,141 hectares, next to Vale and Drummond mines. A conceptual target of 200-800 million tonnes is stated; no resource is defined.
