Past year: ▼ 33%(0.20c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Feb 2013director officer appointment▲ GoodMajor
Alan Broome AM, a metallurgist with over 40 years in mining, is appointed Chairman, filling the vacancy left by Edwin Stoyle's October 2012 resignation. He chairs several other listed and unlisted mining companies and sits on the Solid Energy board.
25 Jan 2013quarterly activities report● Neutral
December 2012 quarter: Lochinvar drilling began after quarter end, Redmoor tin-tungsten project in Cornwall acquired, La Miel abandoned, and the $7.5m placement done. Final $1.87m tranche still needs shareholder approval. Largely repeats known developments.
23 Jan 2013drilling spud▲ GoodMajor
Phase 1a drilling begins at the wholly owned Lochinvar coking coal project in the UK on 21 January 2013, with first hole LOI001 twinning a 1983 hole that hit seven seams. Flooding delayed the start; first results are due late Q1 2013.
17 Dec 2012asset acquisition disposition▼ BadMajor
New Age walks away from the La Miel coal project in Colombia, skipping a US$500,000 deferred payment due December 2012. Two boreholes, drilled in 2012, hit no coal. Ends the La Miel drilling begun in April 2012; no further obligations to vendors.
11 Dec 2012admin correction● Neutral
Administrative notice that 77,591,051 shares at 6.5 cents were issued on 11 December 2012, the second tranche of the placement, following shareholder approval. No new information.
28 Nov 2012investor presentation● Neutral
December 2012 investor presentation promoting Lochinvar as a major UK coking coal project. Visible text is mainly disclaimers and competent-person statements; no new figures are evident in the readable portion.
29 Oct 2012quarterly activities report● Neutral
September 2012 quarter: first La Miel borehole completed, Lochinvar team and UK subsidiary set up, and 12-month work plan with drilling from November. Repeats the $7.5m placement, which still needs shareholder approval. Lochinvar scoping study is targeted for Q4 2013.
25 Oct 2012director officer appointment● NeutralMajor
Chairman Edwin Stoyle, 71, a director since 2005, resigns with immediate effect. He held 4,645,000 shares and 750,000 unlisted options. The company will start recruiting an independent replacement chairman. No reason for leaving is given.
25 Oct 2012annual report● Neutral
Annual report for year to 30 June 2012. Highlights the June 2012 grant of the Lochinvar UK coking coal licence (conceptual target 330-410Mt, acquired for a £12,500 application fee) and Colombian assets including a 3.6Mt coking coal resource at Terranova. Terranova fast-track development was not pursued.
24 Oct 2012admin correction● Neutral
Administrative notice that 7,000,000 shares at 6.5 cents, the first tranche of the placement, are being issued on or about 25 October 2012 without a prospectus. No new information.
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.
Create a free account to see this worked out for your own holding.
27 Apr 2012quarterly activities report● Neutral
March 2012 quarter: Terranova feasibility study progressing, La Miel drilling contracted and started after the period, and the $1.165m placement agreed. Drilling on FL2-151 is planned next quarter; JBI-11091 is still not granted. Largely repeats known developments.
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 2012quarterly activities report● Neutral
December 2011 quarter: maiden 3.6Mt Terranova resource, positive scoping study and start of the feasibility study, plus completion of the A$4m placement. Stage One production is scheduled for early 2013 and ends October 2014 under current permits. Largely repeats known developments.
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.
