7 Aug 2024other● Neutral
Monthly CDI statement for July 2024: CDIs 609.03m, down about 14.0m from transfers to TSX shares. Several option and warrant lines now show nil. Administrative; no operational news.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Aug 2024investor presentation● Neutral
Diggers & Dealers conference presentation; text provided is only legal disclaimers. No new results or figures visible, and it appears to repeat known information.
6 Aug 2024resource reserve update▲ GoodMajor
Updated resource for CV5 and CV13 is 80.1 Mt at 1.44% Li2O Indicated plus 62.5 Mt at 1.31% Inferred, versus the June 2023 maiden 109.2 Mt all Inferred. It delivers the first Indicated resource and CV13's maiden resource; PEA is due by end of September quarter.
6 Aug 2024resource reserve update▲ GoodMajor
Maiden Exploration Target of about 146 to 231 Mt at 1.0 to 1.5% Li2O, in addition to the resource, independently prepared by BBA. It is conceptual only; drilling to test it begins in 2025.
5 Aug 2024other● Neutral
ASX paused trading in Patriot securities pending a further announcement. No reason is given in the notice; the resource update due in August followed the next day.
1 Aug 2024regulatory community update▲ Good
Corvette Project renamed Shaakichiuwaanaan, a Cree name proposed by Chisasibi elders and the Tallyman's family. Over 105 First Nations workers have worked on site in 2024, and a Chisasibi office opens in August. The August resource update is still on schedule.
24 July 2024capital raising announcement● Neutral
The final C$250m base shelf prospectus received regulatory receipt, following the 11 July preliminary filing. The company again says it has no immediate plans to issue securities under it.
12 July 2024capital raising announcement● NeutralMajor
Patriot filed a preliminary Canadian base shelf prospectus allowing up to C$250m of securities over 25 months. No immediate plans to issue; management says the C$75m May raising leaves it well funded. Aligns TSX issues with ASX.
8 July 2024drilling result▲ GoodMajor
Final CV13 winter assays extend the Vega Zone: 51.7 m at 1.77% Li2O (including 9.7 m at 5.16%), the best wide intercept at CV13. Zone now about 380 x 220 m and open. All winter holes reported; resource update due August 2024.
4 July 2024other● Neutral
Monthly CDI statement for June 2024: CDIs 623.07m, down about 552k from net transfers to TSX shares. 140,000 warrants exercised and several option lines now nil. Administrative; no operational news.
3 July 2024director officer appointment● NeutralMajor
COO Blair Way retired effective 30 June but stays on as non-executive director and consultant. John Drapack (Director, Studies) and Cathryn Moffett (Director, Environment) appointed. Feasibility Study targeted for the September 2025 quarter.
3 July 2024investor presentation● Neutral
July 2024 webinar presentation; the text provided is only legal disclaimers. No new results or figures visible; appears to repeat previously announced information.
1 July 2024investor presentation● Neutral
Notice of a 3 July investor webinar hosted by CEO Ken Brinsden on Corvette activities. Administrative; no new results or figures.
27 June 2024other● Neutral
Annual Information Form for the year to 31 March 2024, dated 26 June. Only the table of contents and glossary are in the text provided, so no figures or new developments can be reported.
27 June 2024drilling progress report▲ Good
Summer-fall program started: two rigs stepping out at CV13's Vega Zone (about 10,000 m under consideration), two on geotechnical work, more CV5 rigs from July. New camp commissioned. ESIA due September 2025; Feasibility Study scheduled for second half of 2025.
25 June 2024drilling result▲ GoodMajor
Final CV5 winter assays: 124.9 m at 1.72% Li2O (including 13.4 m at 4.04%) and 63.7 m at 2.68% (including 35.6 m at 3.78%). All CV5 holes now reported. Resource upgrade, with maiden CV13 resource, now targeted for August 2024; a PEA is targeted for Q3 2024.
24 June 2024other● Neutral
Appendix 4G governance checklist for the year to 31 March 2024, pointing to the governance statement in the annual MD&A (pages 31-40). Administrative; no operational or financial news.
24 June 2024annual report● Neutral
Annual financial statements and management discussion for the year to 31 March 2024. The text provided is only the table of contents, so no figures can be reported here.
11 June 2024drilling result▲ GoodMajor
CV13's high-grade zone, now named Vega, expanded: 33.4 m at 2.40% Li2O (incl. 11.1 m at 4.33%), and the highest single sample at Corvette, 1.7 m at 7.01%. Zone covers about 350 by 125 m and is open. 83 holes remain unreported; summer drilling will target it.
6 June 2024investor presentation● Neutral
Presentation at the Mining Investment Event of the North 2024, with legal disclaimers in the text provided. No new results or figures visible; appears to repeat previously announced information.
4 June 2024other● Neutral
Monthly CDI statement for May 2024. Quoted CDIs rose from 623.6m... see note: statement shows CDIs fell from 638.5m to 623.6m through net transfers to TSX shares. Some options and warrants were exercised or removed. Administrative; no operational news.
31 May 2024capital raising announcement▲ Good
The C$75m flow-through placement closed: 5,159,959 shares at C$14.54, described as significantly oversubscribed. ASX settlement expected 4 June, when 46.07m new CDIs begin trading; 552,812 shares stay as shares under a four-month hold.
What it means for a shareholder
5.2m new shares at C$14.54 to raise about C$75.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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30 May 2024capital raising announcement● Neutral
Transaction-specific prospectus for the flow-through placement: up to 5,159,959 shares at C$14.535, of which 4,607,147 convert to 46.07m CDIs. It mainly removes trading restrictions on the CDIs; no new information beyond the 22 May raising.
What it means for a shareholder
5.2m new shares at C$14.54 to raise about C$75.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
22 May 2024capital raising announcement▲ GoodMajor
Patriot raised about C$75m via a flow-through placement of roughly 5.16m shares at C$14.54, a 51% premium to the 17 May TSX close. Funds are restricted to Corvette exploration from June 2024 to December 2025. Updated CV5 resource targeted late Q3 2024.
What it means for a shareholder
5.2m new shares at C$14.54 to raise about C$75.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
22 May 2024director officer appointment● Neutral
CFO Natacha Garoute also becomes Corporate Secretary after Kelly Pladson resigned. Administrative change; no operational impact stated.
16 May 2024drilling result▲ Good
Next 20 CV5 infill holes include 122.5 m at 1.42% Li2O and 71.4 m at 1.57%. 111 winter holes (67 CV5, 44 CV13) still unreported, including the CV13 high-grade follow-ups. Q3 2024 resource update, with maiden CV13 resource, unchanged.
15 May 2024material agreement termination● NeutralMajor
The 9-month Albemarle MOU ended without extension by mutual agreement, and the investor rights agreement was terminated. Albemarle's exclusivity has expired, leaving Patriot free to talk to other downstream partners. Relationship described as ongoing and non-exclusive.
8 May 2024investor presentation● Neutral
Presentation at the Macquarie Australia Conference 2024, mostly legal disclaimers. No new results or figures visible in the text provided; appears to repeat previously announced information.
7 May 2024drilling result▲ GoodMajor
New high-grade zone found at CV13: 34.4 m at 2.90% Li2O (incl. 21.9 m at 3.58%) from about 125 m depth, open in several directions. Follow-up holes were drilled but assays are pending. Maiden CV13 resource still Q3 2024.
6 May 2024other● Neutral
Monthly CDI statement for April 2024. Quoted CDIs rose from 586.2m to 592.5m, mainly via transfers from the TSX. Administrative; no operational news.