Past year: ▼ 33%(0.20c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 May 2011material agreement▲ GoodMajor
New Age signs an exclusive partnership with Colombian mining services firm Aurora Energy to pursue thermal and coking coal projects in Colombia. This is a shift from the iron ore hunt, though the company says it is also still pursuing iron ore and base metals. Work on the ground began February 2011.
16 Mar 2011half year report▼ Bad
Half-year to 31 December 2010: loss of $946,543, up from $657,734 a year earlier. Review repeats the failed Spanish iron ore negotiations, the Bunnawarra Stage 1 status and dormant Africa exclusivity. The report states no significant changes in the company's state of affairs.
19 Jan 2011asset acquisition disposition▼ BadMajor
Responding to Spanish press reports, New Age confirms it did due diligence on the Alquife iron ore mine in Spain. Negotiations with the majority owner were unsuccessful, though talks continue under exclusivity, and it is not confident of a deal.
24 Dec 2010other● Neutral
Amended securities trading policy for directors, executives and employees. Administrative; no company or project news.
30 Sept 2010annual report● Neutral
Annual report for the year to 30 June 2010 (text truncated). Fietz joined the board on 6 May 2010, and directors were granted unlisted options exercisable at 10 cents to 2013, 13m of them to Fietz. Financial results are not visible in the text.
6 May 2010director officer appointment▲ GoodMajor
The 42,705,505 shortfall shares were placed with the underwriter, raising a further $3,629,968, so the full $4,097,000 is raised before costs. This resolves the open question over the rights issue, and Gary Fietz is appointed Managing Director.
4 May 2010capital raising announcement● Neutral
5,494,495 shares and 457,874 options were issued to shareholders who took up their rights. The shortfall is still being placed with underwriter Patersons.
27 Apr 2010capital raising announcement● Neutral
The rights issue closed 23 April with shareholders taking up only 5,494,495 shares, leaving 42,705,505 shortfall shares for the underwriter. Funds of $4,097,000 are stated as received or underwritten. The underwriter has been notified of the shortfall.
13 Apr 2010investor presentation● Neutral
AGM addresses: Fietz has consulted part-time since February 2010 and will go full-time once the rights issue is fully subscribed. He says iron ore is a focus but the company is not limited to one commodity, and some projects have passed initial screening.
26 Mar 2010capital raising announcement● Neutral
Notice that the rights issue prospectus has been despatched to shareholders. The terms are unchanged: 1-for-1 at 8.5 cents, raising $4,097,000 before costs.
26 Mar 2010capital raising announcement▼ BadMajor
The share price closed at $0.06 on 25 March, below the 8.5 cent issue price, which is a trigger for Patersons to terminate the underwriting. Patersons has not terminated but is reserving its rights, putting the $4.1m raising at risk.
15 Mar 2010half year report▼ Bad
Half-year to 31 December 2009 shows a loss of $657,734, against a $131,529 loss a year earlier; the table shows a $565,000 diminution of value in financial assets (inference: likely the Jervois shares). Bunnawarra and Africa updates repeat earlier news.
11 Mar 2010director officer appointment▲ GoodMajor
Gary Fietz, a geologist with 21 years at BHP Billiton mostly in iron ore, is appointed Managing Director to find and develop new projects, especially iron ore. His appointment is conditional on the rights issue being fully subscribed. A leadership addition alongside the $4.5m raising.
11 Mar 2010capital raising announcement● NeutralMajor
New Age plans a renounceable rights issue of one new share per share held at $0.085, plus one $0.10 option (expiring 31 March 2012) for every twelve new shares. It is fully underwritten by Patersons, with funds for working capital. Chairman's comment in the Fietz release cites $4.5m.
11 Mar 2010capital raising announcement● Neutral
Cover letter to shareholders restating the rights issue terms (1-for-1 at 8.5 cents, one option per twelve shares) and the indicative timetable. No new information beyond the prospectus.
11 Mar 2010capital raising announcement● Neutral
Prospectus for the 1-for-1 renounceable rights issue at 8.5 cents, raising $4,097,000 before costs, with one $0.10 option (expiring 31 March 2012) per twelve shares. Underwritten by Patersons; Fietz's Managing Director appointment is subject to completion. Closing date is 23 April 2010.
28 Oct 2009drilling result▼ BadMajor
Bunnawarra drilling (1,205m aircore, three lines) found no economic molybdenum, and gold and silver were below the surface anomaly. One hole had anomalous rare earths needing further assay. New Age's share is now up to 40%. Cash was $910,000.
16 Sept 2009drilling scheduled● Neutral
Drilling is to begin at Bunnawarra that week, with Jervois as partner, mainly testing the molybdenum anomaly and some gold anomalies. This follows the rain delays and the earlier auger results.
16 Sept 2009other● Neutral
Jervois's release of the same Bunnawarra drilling announcement as New Age's, with identical content. Re-release; no new information.
4 Sept 2009annual report▲ Good
Annual report for the year to 30 June 2009: a profit of $51,606, against a $406,733 loss in 2008, with no dividend. Directors unchanged. Bunnawarra drilling is planned from 14 September 2009 after over two months of rain delays.
19 Mar 2009farm in farm out agreement● NeutralMajor
New Age exits the Jervois uranium and gold joint venture: Jervois repays about $300,000 of costs, and New Age gets a 2% gold royalty and $2/lb uranium royalty. Jervois subscribes 6m New Age shares at $0.13 ($780,000), reaching about 16%; New Age buys 200m Jervois shares at $0.004 ($800,000). Jervois now shares Bunnawarra, with $70,000 reimbursed.
19 Mar 2009other● Neutral
Jervois's own announcement of the same deal: it takes back the uranium and gold tenements, New Age gets royalties, and shares are swapped (200m Jervois at $0.004; 6m New Age at $0.13). Adds a planned uranium IPO for Jervois and New Age shareholders, plus Jervois-specific items.
17 Mar 2009admin correction● Neutral
Cover note adding the competent person statement (D. Foster) to the half-year report lodged 16 March 2009. Administrative; no new company information.
16 Mar 2009half year report● Neutral
Half year to 31 December 2008: loss of $131,529, down 52.4% on the prior period, on lower administration costs. No dividend. Directors unchanged. Project updates repeat known facts: Bunnawarra geophysics talks and uranium work still awaiting surveys.
23 Jan 2009admin correction● Neutral
Cover note adding the competent person statement (D. Foster, AusIMM) to the 2008 Annual Report lodged 30 September 2008. Administrative; no new company information.
15 Dec 2008regulatory community update▲ GoodMajor
The Bunnawarra tenement E59/1391 was granted, resolving the pending application from the May 2008 Redfeather deal. Auger sampling found copper, gold and molybdenum anomalies, including a molybdenum zone about 4km by 600m. An extensive drilling program is intended.
28 Oct 2008other● Neutral
Notice that 19,250,000 restricted unlisted ordinary shares will be released from escrow on 12 November 2008. Administrative; these are shares already issued, so no new capital is raised.
30 Sept 2008annual report● Neutral
Annual report for the year to 30 June 2008: loss of $406,733 (2006: $204,272), no dividends. Directors are unchanged: Stoyle, Wing and Rice. The review repeats the Bunnawarra deal and uranium projects.
14 May 2008farm in farm out agreement▲ GoodMajor
New Age signed a binding deal with Redfeather to earn up to 80% of the Bunnawarra iron ore tenement application (180 sq km, Mid West WA). It must spend $1.35m on exploration and issue $150k of shares. This is a new direction away from uranium.
23 Apr 2008other● Neutral
Share registry Link Market Services notified a change of its Melbourne office address from 1 May 2008, applying to many listed companies including New Age. Administrative; no company substance.
