Past year: ▼ 33%(0.20c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
16 May 2025drilling progress report● NeutralMajor
Lammerlaw Phase 1 finished with 5 holes for 458m; a creek washout blocked some targets, which move to Phase 2, now expected Q1 2026. Assays are due within 2 months. Permit EP 61110 Waipori (71.4 km2) was also granted.
10 Apr 2025drilling progress report● Neutral
The maiden Wagyu RC program is finished: 33 holes for 3,023m across five gravity targets, with intrusions and alteration noted. Assays are expected late April to May 2025. Completes the drilling thread; results are still awaited.
3 Apr 2025admin correction● Neutral
Amended re-release of the 3 April Lammerlaw announcement. It states that the Figure 3 results were previously reported on 17 October 2024 and adds a Competent Person statement. No new information.
3 Apr 2025drilling spud● Neutral
Drilling started at Lammerlaw in New Zealand, as flagged for Q1 2025 earlier. Phase 1 of two phases will test 5 of the 9 gold and antimony targets. No results yet.
27 Mar 2025capital raising announcement▲ GoodMajor
NAE raised a further A$360k via 90m shares at 0.4c, on the same terms as the March raise, with 1 free 1.2c option per 4 shares. First six RC holes at Wagyu are done, and Peter Thompson becomes Chief Geologist.
What it means for a shareholder
90.0m new shares at A$0.004 to raise about A$360,000. That's 5.9% dilution: every existing holder's slice gets 5.9% smaller. If you held A$1,000 of shares (250,000 at the issue price), your slice goes from 0.0175% to 0.0165% of the company. To keep it you'd need 15,752 more shares - about A$63 at the issue price.
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27 Mar 2025other● Neutral
ASX paused trading in NAE securities pending a further announcement. Procedural only; the reason is not given in this notice.
17 Mar 2025drilling spud▲ GoodMajor
Maiden 3,000m RC drilling began at Wagyu on 16 March 2025, following up the 15.6g/t air core intercept. Contractor Strike Drilling is taking 50% of its payment in NAE equity. Assays are expected late April to May 2025.
14 Mar 2025half year report● Neutral
Half-year accounts to 31 December 2024 show a loss of $750,692, down from $1,762,405 a year earlier. Notes no significant changes in affairs. Subsequent event: the 6 March 2025 A$1.6m placement. Operations recap repeats earlier Wagyu and Lammerlaw news.
11 Mar 2025admin correction● Neutral
Amended re-release of the 11 March Wagyu geophysics announcement, adding the Competent Person statement for consultant Peter Thompson. No change to the results.
11 Mar 2025regulatory community update▲ Good
Passive seismic and ground gravity surveys across the Yule River bed at Wagyu identified new gravity anomalies and confirmed Targets 8 and 10, linking east and west data. Surveys are aids to drill targeting, not drilling results. 3,000m RC drilling is said to start imminently.
6 Mar 2025capital raising announcement● NeutralMajor
NAE raised A$1.6m via a placement of 400m shares at 0.4c, a 20% discount to the last price, with 1 free 1.2c option per 4 shares (expiry 21/12/2026). It funds the 3,000m Wagyu RC program and Q2 air core. Lead manager Vert Capital; follows October's A$1.75m raise.
What it means for a shareholder
400m new shares at A$0.004 to raise about A$1.6m. That's 22% dilution: every existing holder's slice gets 22% smaller. If you held A$1,000 of shares (250,000 at the issue price), your slice goes from 0.0175% to 0.0137% of the company. To keep it you'd need 70,008 more shares - about A$280 at the issue price.
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6 Mar 2025other● Neutral
ASX notice that the suspension of NAE's shares will lift once the capital raise announcement is released. Procedural only.
5 Mar 2025other● Neutral
NAE's shares were suspended at its own request on 5 March 2025, pending an announcement on a capital raise. A trading halt had been requested on 3 March; an announcement was expected 6 March. Procedural step before the raise.
17 Feb 2025drilling result▲ GoodMajor
Phase 2 resamples lift Wagyu to 16 significant intercepts, led by 4m @ 5.3g/t from 49m in 24WA225, including 1m @ 15.6g/t. The best grades yet at the project. A 3,000m RC program is due March 2025, with more air core in the June quarter.
5 Feb 2025regulatory community update▲ Good
The December 2024 heritage survey at Wagyu, done with Kariyarra Aboriginal Corporation, found no heritage places, opening more ground over high-priority gold targets. A 3,000m RC program remains on track for March 2025. Resolves the heritage thread for the surveyed area.
15 Jan 2025other● Neutral
Chairman's letter says all resolutions at the 15 January 2025 General Meeting passed. It recaps 2024 (12,000m+ of Wagyu air core, A$1.75m raise) and plans RC drilling at Wagyu and Lammerlaw drilling in early 2025. No new results.
11 Dec 2024drilling result▲ GoodMajor
Wagyu Phase 2 air core assays add four new gold intercepts, best 4m @ 2.5g/t from 48m (24WA225), and confirm gold at new Target 10. This is the long-awaited follow-up to Phase 1; RC drilling is still needed to confirm gold at depth. Heritage surveys planned next week.
27 Nov 2024security holder rights change● Neutral
Company constitution published, adopted by special resolution of shareholders at the 21 November 2024 AGM. The excerpt shows only the table of contents, so what changed is not stated.
18 Nov 2024admin correction● Neutral
Amended re-release of the 13 November Wagyu resample announcement, adding mineralised hole details required under listing rules. It updates De Grey's Hemi resource to 11.2Moz following De Grey's 14 November update. NAE's own results are unchanged.
13 Nov 2024drilling result▲ Good
One-metre resamples of Phase 1 air core samples at Wagyu add a fifth significant intercept: 1m @ 2.2g/t from 32m (24WA054), and 24WA053 refined to 2m @ 1.5g/t. Only the first half of resamples are reported; Phase 2 assays are still pending.
23 Oct 2024capital raising announcement▲ GoodMajor
NAE raised A$1.75m via a placement of 350m shares at 0.5c, with 1 free 1.2c option (expiry 21/12/2026) per 2 shares. Funds go to Wagyu RC drilling, Lammerlaw and working capital. Eases the funding need from A$1.4m cash at June; CPS Capital was lead manager.
What it means for a shareholder
350m new shares at A$0.005 to raise about A$1.8m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.014% to 0.0112% of the company. To keep it you'd need 49,006 more shares - about A$245 at the issue price.
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18 Oct 2024admin correction● Neutral
Amended re-release of the 15 October Wagyu Phase 2 announcement, adding De Grey's Hemi resource classification (10.5Moz), a cautionary note on photos of drill specimens, Phase 2 hole details and a JORC table. No new results.
17 Oct 2024drilling scheduled▲ Good
NAE has defined 9 drill targets for gold, antimony and tungsten at its New Zealand Lammerlaw permit, with RC drilling planned for Q1 2025. Historic mining produced about 150t of stibnite (over 50% antimony). 140 soil samples are pending. Advances the NZ phase 2 drilling plan.
15 Oct 2024drilling progress report● Neutral
Phase 2 air core drilling at Wagyu is complete: 101 holes, 4,370m, bringing the total to 12,010m. Logging extends the sulphide-rich intrusive rocks seen with Phase 1 gold. No new assays; Phase 2 results are expected by mid-November, with RC drilling to follow.
1 Oct 2024drilling result▲ GoodMajor
Wagyu's first air core assays show gold at all four gravity targets tested, including 3m @ 2.2 g/t from 24m. 21 mineralised intercepts across 18 holes. Confirms the Phase 1 geology; the assays were due end September. Phase 2 is underway.
23 Sept 2024drilling spud● Neutral
Phase 2 air core drilling has started at Wagyu, about 4,300m planned to follow up Phase 1 and test new targets. Targets 3 and 4 on the west remain untested pending heritage surveys. Phase 1 assays still due end September.
10 Sept 2024drilling progress report▲ Good
Phase 1 Wagyu air core drilling is complete: 156 holes, about 7,460m (the text also says 7,640m). Logging suggests 3 of 4 gravity targets are intrusive systems. Gold assays are expected by end September; phase 2 is due in about two weeks.
2 Sept 2024admin correction● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, dated 2 September 2024. Administrative filing only, with no operational or financial substance.
2 Sept 2024annual report● Neutral
Annual report for the year to 30 June 2024. It restates Wagyu, Quartz Hill and Lochinvar sale events, and notes the $730,484 carrying value of NZ permit EP60502 was impaired. The $1.969m placement at 0.55c is also noted. Excerpt shows no full financials.
29 July 2024admin correction● Neutral
Amended re-release of the 29 July Wagyu drilling announcement, adding the air core rig photo (Figure 1). Nothing else changed.
