Past year: ▼ 33%(0.20c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
30 Oct 2024quarterly activities report● Neutral
September 2024 quarter report recapping Wagyu Phase 1 and 2 air core drilling (12,010m total), the Phase 1 gold intercepts, Lammerlaw's 9 targets and the post-quarter A$1.75m placement. Phase 2 assays are expected mid-November. Largely repeats announced facts.
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.
Create a free account to see this worked out for your own holding.
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.
25 Sept 2024agm notice● Neutral
Letter to shareholders confirming the 2024 AGM on 21 November 2024 in East Fremantle, with proxies due 19 November. The notice of meeting is electronic only. Administrative; repeats the earlier AGM date notice.
23 Sept 2024agm notice● Neutral
The 2024 AGM is scheduled for 21 November 2024, with director nominations closing 10 October 2024. Administrative notice only.
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.
31 July 2024quarterly activities report● Neutral
June 2024 quarter: Wagyu air core drilling began in late July and the Lochinvar sale was signed. Cash fell to A$1.4m at 30 June from A$2.194m. Quartz Hill assays are described as confirming lithium anomalism and fractionation; Wagyu passive seismic and soil results are still pending.
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.
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.
29 Apr 2024quarterly activities report● Neutral
March 2024 quarter: Wagyu acquisition completed and on-ground exploration started. Quartz Hill assay results from two methods differ, with clarification still pending. Cash was A$2.194m at 31 March 2024, down from A$2.571m.
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.
22 Jan 2024quarterly activities report● Neutral
December 2023 quarter: the maiden Quartz Hill drill program (21 shallow RC holes) is finished, with assays still due early 2024 and about 2,500 soil samples awaiting assay. Cash was A$2.571m at 31 December 2023, down from about A$3m. No new results.
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.
