Past year: ▼ 33%(0.20c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 July 2024drilling spud▲ GoodMajor
Maiden air core drilling has started at Wagyu after the heritage survey; under 5% of planned phase 1 sites are affected by small artefact scatters. RC drilling is still planned for October and November. Results are expected in coming months.
11 July 2024asset acquisition disposition● NeutralMajor
NAE signed a binding deal to sell Lochinvar Coal Limited (UK coking coal, 111Mt resource) to Paladar Trading for A$1, keeping a A$1/tonne royalty on the first 15Mt. Settlement needs UK Coal Authority and other approvals. Ends the search for a funding partner.
2 July 2024admin correction● Neutral
Amended re-release of the 1 July Wagyu announcement, adding geophysical survey details (magnetic, gravity, passive seismic) to the JORC table. The company says no new information materially changes it. No new results.
1 July 2024drilling scheduled▲ Good
All approvals are in for Wagyu's maiden air core drilling, with a heritage survey booked for mid-July and drilling due late July; RC drilling is planned for Oct/Nov. Newly acquired higher-resolution magnetic data adds a further 'Hemi-style' intrusive target.
4 June 2024drilling scheduled▲ Good
Gravity surveys at Wagyu identified six targets; two coincide with magnetic targets, the largest (Target 1) being 400m by 300m. Air core drilling is expected in coming weeks or months once heritage surveys finish, targeted by end June. Soil assays are pending.
24 May 2024drilling result▼ BadMajor
Quartz Hill maiden drilling (21 RC holes, 693m) found only low-order lithium, best 4m @ 104ppm Li, not a significant increase over surface grades. NAE says the granite looks fertile with some fractionation, but no pegmatite was intersected. Target 20 was untested due to access.
18 Apr 2024drilling scheduled▲ Good
NAE has begun on-ground work at Wagyu: gravity and passive seismic surveys plus soil sampling, after defining several Hemi-style intrusive and structural gold targets. An air core drilling Programme of Work was submitted in March; heritage surveys are still to be completed.
4 Apr 2024asset acquisition disposition▲ GoodMajor
NAE completed the Wagyu Gold Project (E47/2974) acquisition from Holcim, completing the February agreement. Separately, Quartz Hill drill assays are anomalous but differ between the two assay methods; NAE is seeking consultant clarification, with analysis due in April before reporting.
15 Mar 2024half year report▼ Bad
Half-year to 31 December 2023 loss was $1,762,405, versus $646,253 a year earlier. Restates known events: Quartz Hill drilling done, Wagyu agreement signed after period end, and NZ permit EP60502 term expired with renewal applied for ($730,484 carried value).
29 Feb 2024asset acquisition disposition▲ GoodMajor
NAE signed an agreement with Holcim to acquire rights to E47/2974, the Wagyu Gold Project, about 9km along strike from De Grey's Hemi gold deposit. Completion needs due diligence, third-party consents and a $10,000 payment; earlier forfeiture-withdrawal deal adds staged payments. Adds gold to the Pilbara lithium focus.
25 Jan 2024admin correction● Neutral
Amended Appendix 4G for FY23 changes the 'followed in full' ticks for recommendations 1.5, 3.1, 3.4 and 7.2. The governance statement is unchanged. Administrative correction only; the text does not say what the practical effect is.
14 Dec 2023drilling progress report● Neutral
The maiden Quartz Hill program is finished: 21 of 24 planned shallow RC holes were drilled to target depth. No results yet; assays are expected in early 2024, which will show whether the soil lithium anomalies hold up at depth.
29 Nov 2023drilling spud▲ GoodMajor
Maiden drilling has started at Quartz Hill, testing the lithium soil anomalies near fertile granite with 20 to 25 shallow holes. Assay results are expected in early 2024. First drill test of the Pilbara lithium targets built up since 2022.
24 Nov 2023admin correction● Neutral
Updated company constitution lodged after shareholders approved the amendment by special resolution at the 23 November 2023 AGM. The excerpt does not say what changed.
23 Nov 2023drilling scheduled▲ Good
NAE says maiden reverse circulation drilling of lithium pegmatite targets at Quartz Hill will start within a week, with site works done and a passive seismic survey to gauge cover depth. Follows the heritage clearance; first drilling of the Pilbara lithium targets.
14 Nov 2023security holder rights change● Neutral
The 254.6m listed 3c options (issued with the May 2021 placement) expire on 31 December 2023, with quotation ceasing 22 December. The company calls them substantially out of the money, with shares at 0.7c. Expiry of an open thread; no exercise funds are likely.
8 Nov 2023regulatory community update▲ Good
A cultural heritage survey with the Kariyarra Aboriginal Corporation is complete at Quartz Hill, clearing the way for drilling the company calls imminent. A third phase of about 300 soil samples is under way at Brahman; about 2,500 samples await assay. Removes a key approval hurdle.
20 Sept 2023capital raising announcement● NeutralMajor
NAE raised A$1.969m via a placement of 358m shares at 0.55c, a 31% discount to the last price, with 1 free 1.2c option per 2 shares. Directors may add A$550,000 on the same terms, subject to shareholder approval. Funds support Pilbara lithium drilling. Lead manager CPS Capital.
What it means for a shareholder
358m new shares at A$0.0055 to raise about A$2.0m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (181,818 at the issue price), your slice goes from 0.0127% to 0.0102% of the company. To keep it you'd need 45,569 more shares - about A$251 at the issue price.
Create a free account to see this worked out for your own holding.
7 Sept 2023drilling progress report▲ Good
NAE has started a second round of soil sampling (about 1,200 more samples) at Bullock Well and Quartz Hill to refine the lithium targets before drilling. Greg Hudson, ex-Neometals, is appointed Chief Geological Consultant. Drilling still awaits approvals.
4 Sept 2023other● Neutral
Appendix 4G governance checklist lodged with the annual report for the year to 30 June 2023, pointing to the corporate governance statement on the company website. Administrative filing with no new results, figures or events.
4 Sept 2023annual report● Neutral
Annual report for year to 30 June 2023. The activities review repeats known Pilbara lithium targets, OPQ drilling and permit positions. It states Meentheena is now three applications plus one granted licence. Financial figures are not shown in the excerpt.
8 June 2023drilling result▲ Good
Soil analysis at the Brahman project identified additional high-priority lithium pegmatite targets, adding to the May Bullock Well and Quartz Hill targets. Brahman is next to Golden State Minerals' Nomad lithium discovery. Drilling is planned for the coming field season, subject to approvals.
31 May 2023drilling result▲ GoodMajor
NAE's maiden OPQ drilling (six RC holes, 879m) hit the shear zone in four holes. Best results were 6m at 1.4 g/t Au and 1m at 2.53 g/t Au. Diamond drilling is being planned; the zone remains open.
25 May 2023drilling result▲ GoodMajor
CSIRO and Sugden Geoscience analysis of the Pilbara soil data produced multiple high-priority lithium pegmatite targets at Bullock Well and Quartz Hill, with lithium up to 843ppm. Aircore/RC drilling is planned for the coming field season, subject to approvals. Resolves the pending final interpretation.
7 Mar 2023half year report● Neutral
Half-year to 31 December 2022: loss $646,253, against $605,566 a year earlier. Review of operations repeats known Pilbara and New Zealand results. The excerpt reports no significant changes in the state of affairs.
9 Feb 2023drilling scheduled▲ GoodMajor
NAE will start a maiden 935m, six-hole RC drill program at OPQ in Otago on 21 February, the first hard-rock drilling of the Waipori Goldfield. Also reports encouraging surface gold at Manorburn and high-grade quartz vein samples at Marlborough.
9 Jan 2023other● Neutral
Chairman's year-end letter restates 2022 highlights: Pilbara lithium anomalies, the Meentheena applications, high-grade Otago gold, and the Palaris Lochinvar review. Notes UK approval of West Cumbria's Woodhouse Colliery. No new results, funding or figures.
30 Nov 2022drilling result▲ GoodMajor
Ultrafine soil sampling in the Central Pilbara found five lithium anomalies up to 8km long, with lithium up to 843ppm at Bullock Well. None have been drill tested. Builds on the earlier low-level lithium hits; final CSIRO results are due Q1 2023, and helicopter reconnaissance has started.
28 Nov 2022other● Neutral
Palaris's review of the 2014 and 2017 Lochinvar scoping studies finds the economics remain robust despite recent UK cost increases. The 111Mt resource is unchanged and no updated figures are given. Completes the review flagged in September; no funding partner yet.
25 Oct 2022drilling result▲ GoodMajor
Rock chips from historic mines at Lammerlaw and OPQ in Otago returned high-grade gold, up to 27.0 g/t, with 17 of 104 samples above 0.5 g/t. Resolves the pending May assays; maiden drilling is now planned for the 2022-23 field season.
