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.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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 Oct 2023quarterly activities report● Neutral
September 2023 quarter: cash about A$3m, up from A$1.84m after the A$1.969m placement. Repeats the second-phase Pilbara soil sampling, Hudson's appointment and planned NZ diamond drilling. Pilbara drilling still awaits approvals; no new results.
20 Oct 2023agm notice● Neutral
Cover letter to shareholders saying the Notice of Meeting for the 23 November 2023 AGM is available online, and urging proxy votes. Administrative only; no new information.
22 Sept 2023agm notice● Neutral
The 2023 AGM is set for 23 November 2023, with director nominations closing 12 October 2023. Administrative notice only.
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.
26 July 2023quarterly activities report● Neutral
June 2023 quarter: cash A$1.84m, down from A$2.2m. Repeats the Pilbara lithium targets and the OPQ drill results, with diamond drilling being planned. No new results; no Lochinvar funding deal reported.
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.
6 Apr 2023quarterly activities report● Neutral
March 2023 quarter: cash A$2.2m, down from A$2.627m. The OPQ drilling is described as commenced, and Pilbara CSIRO final results are expected in Q2 2023. Otherwise repeats known results; Lochinvar still has only enquiries.
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.
25 Jan 2023quarterly activities report● Neutral
December 2022 quarter: cash A$2.627m, down from A$3.335m. Repeats the Pilbara lithium anomalies, Otago rock chips up to 27.0 g/t Au and the Lochinvar review. Maiden New Zealand drilling now planned for Q1 2023; no new funding.
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.
28 Oct 2022agm notice● Neutral
Letter to shareholders saying the 2022 AGM will be held in Melbourne on 30 November 2022 at 2.30pm, with notice available online and proxies due 28 November. Administrative only.
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.
19 Oct 2022quarterly activities report● Neutral
September 2022 quarter: cash A$3.335m, down from A$4.181m. Largely repeats the Pilbara soil surveys, Meentheena applications, New Zealand permit grants and field work, and Lochinvar scoping update. Gold assays from May New Zealand samples were still pending at quarter end.
18 Oct 2022asset acquisition disposition▲ GoodMajor
NAE applies for four new exploration licences, the Meentheena Project (484 km2) in the East Pilbara, near Marble Bar and Nullagine. They are applications only, not yet granted, and expand NAE's Pilbara gold-lithium footprint beyond the Central Pilbara. Reconnaissance is planned for Q4 2022.
12 Oct 2022regulatory community update● Neutral
NAE becomes a sponsor of CSIRO's ultrafine soil analytics program and finishes first-phase Pilbara soil surveys, with 5,300 samples sent to the lab. Results are due Q4 2022 and will guide the planned resumption of drilling. Completes the soil survey step flagged earlier.
30 Sept 2022agm notice● Neutral
The 2022 AGM is set for 30 November 2022, with director nominations closing 19 October 2022. Administrative notice only.
26 Sept 2022annual report● Neutral
Annual report for year to 30 June 2022. The activities review repeats known Pilbara drilling (13 Brahman holes, low-level gold and lithium), Quartz Hill licences (Pilbara holdings now over 2,000km2) and New Zealand work. Financial figures not shown in the excerpt.
26 Sept 2022other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, pointing to the governance statement on NAE's website. Administrative; no new business information.