Each one in plain English, with the numbers worked through for a shareholder.
31 July 2023resource reserve update▲ GoodMajor
Maiden CV5 resource: 109.2 Mt at 1.42% Li2O inferred (0.40% cut-off), 3.835m t lithium carbonate equivalent, from 163 holes. The company calls it the largest lithium pegmatite resource in the Americas and 8th largest globally. CV13 resource is now expected in 2024.
27 July 2023regulatory community update● Neutral
Forest entry ban lifted at Corvette; staff are returning by fixed-wing aircraft, with one helicopter allowing drilling to restart by the weekend. More helicopters are hoped for in August. Resource still on track for late July; all-weather road upgrade is meant to recover lost drilling time.
10 July 2023drilling result▲ GoodMajor
Final winter assays reported, completing all results. Nova Zone hole CV23-181 returned 108.0 m at 2.44% Li2O, and CV23-184 and CV23-190 gave 78.9 m at 1.00% and 139.2 m at 1.26%. This closes the pending-assay thread; the CV5 resource is due in a few weeks.
10 July 2023other● NeutralMajor
Company rejects a short-seller report (Night Market Research) as inaccurate and says it has sought legal advice. It confirms the maiden resource is due in coming weeks, and says it has received no takeover proposals despite media speculation. Trading halt lifted.
6 July 2023other● Neutral
Monthly statement of CDIs for June 2023. Quoted CDIs rose from 328.3m to 340.3m, with some option and warrant exercises and transfers from ordinary shares. Administrative; no operational news.
5 July 2023well test result▲ GoodMajor
Preliminary heavy-liquid tests on five CV13 core composites gave 6% Li2O spodumene concentrate at 67–77% recovery using simple dense-media separation. This supports processing CV13 and CV5 in the same plant, building on the earlier CV5 results. A pilot-plant sample is planned this summer-fall.
30 June 2023admin correction● Neutral
Appendix 4G governance checklist lodged with the annual report for the year to 31 March 2023. It points to the governance statement in the annual MD&A. Administrative; no operational or financial news.
30 June 2023annual report● Neutral
Audited annual financial statements for the year to 31 March 2023 were filed. The auditor gave a clean opinion with no key audit matters. The excerpt shows no financial figures, so cash and loss are not confirmed here.
30 June 2023annual report● Neutral
Annual Information Form for the year to 31 March 2023, dated 29 June 2023, filed. It covers business history, risks, governance and technical information on Corvette. The excerpt shows no new results or events.
30 June 2023security holder rights change● Neutral
Company granted 48,002 restricted share units (vesting after three years) and 48,002 performance share units to employees and consultants under its equity plan. Up to 72,003 shares could issue on the PSUs if performance milestones are met. Small, routine incentive grant.
26 June 2023regulatory community update▼ BadMajor
Wildfires again suspended all site work and staff were sent home; helicopters were requisitioned for firefighting, so drilling cannot proceed. Resource estimate still due late July, with no significant lab impact expected. Winter snow road is now permitted for conversion to an all-weather road.
26 June 2023other● Neutral
Company responds to a newspaper report that it hired Macquarie Capital for a deal. It says it has not started any process to sell assets or the company, and remains focused on the resource estimate due in coming weeks.
16 June 2023regulatory community update▲ Good
Quebec lifted forest access restrictions at Corvette from 14 June; fires were over 80 km away and did not affect the property. Remobilisation has begun, with full site activity expected by end of June. July resource estimate target maintained.
15 June 2023drilling result▲ Good
More winter assays: CV23-148 returned 95.3 m at 1.62% Li2O, supporting the 1.1 km Nova Zone; CV23-160A 127.7 m at 1.78%. Twelve holes still unreported. Initial CV5 resource estimate now targeted for July 2023, slipping from late June.
14 June 2023director officer appointment● Neutral
Pierre Boivin, a McCarthy Tétrault mining lawyer, joins the board from 12 June, replacing retiring director Dusan Berka. Berka was a founder of the company in 2007 and its CFO for over 10 years.
5 June 2023regulatory community update▼ Bad
Quebec asked explorers to stop field work because of very high forest fire risk, so the Corvette summer-fall drilling begun in late May is halted. Core processing and camp construction continue. No end date given.
2 June 2023other● Neutral
Monthly statement of securities for May 2023. Quoted CDIs rose from 303.6m to 328.3m, with some option and warrant exercises and transfers from ordinary shares. Administrative; no operational news.
30 May 2023director officer appointment▲ Good
Greg Barfoot appointed Vice President Project Development. He has 25 years in project roles at BHP, SNC-Lavalin and Fluor, most recently the BHP Jansen potash project. CEO links the hire to starting the development pathway for CV5.
17 May 2023drilling result▲ GoodMajor
New assays define a high-grade zone extending the Nova Zone west; best 122.6 m at 1.89% Li2O (incl 8.1 m at 5.01%) in CV23-138. Nova Zone now interpreted continuous about 1.1 km. Assays for 27 holes still pending.
2 May 2023drilling progress report▲ Good
CV5 pegmatite extended 550 m west, now traced 3.7 km (up from 3.15 km) and still open. Winter program finished with 89 holes (~32,367 m); assays for 67 holes pending. Initial resource estimate now scheduled June/July; summer-fall drilling starts late May.
1 May 2023other● Neutral
Monthly statement of securities for April 2023. Quoted CDIs rose from 293.6m to 303.6m, with some option and warrant exercises. Administrative; no operational news.
13 Apr 2023regulatory community update▲ Good
Update on pre-feasibility work at CV5: hydrogeology drilling underway, all-season road authorization requested (construction H2 2023, use Q1 2024), and an 80-person camp ordered for early summer. CV5 initial resource estimate planned for late June.
11 Apr 2023material agreement● Neutral
Company hired Venture Liquidity Providers as market maker (C$5,000 a month) and Oakstrom Advisors for investor relations (C$15,000 a month, initial 12 months), subject to TSX-V acceptance. Routine service contracts, not a major deal.
3 Apr 2023other● Neutral
Monthly statement of securities for March 2023. Quoted CDIs rose from 247.4m to 293.6m, with some warrant exercises. Administrative; no operational news.
30 Mar 2023drilling result▲ GoodMajor
First 2023 assays confirm Nova Zone extended 400 m east: CV23-105 returned 83.7 m at 3.13% Li2O, including 19.8 m at 5.28%. Nova Zone now traced about 750 m. Drilling pauses around 20 April for goose harvest, resuming late May.
24 Mar 2023drilling progress report▲ Good
CV5 pegmatite now traced 3.15 km, 550 m further east since February, and still open. 52 holes (~20,644 m) done this year, passing the 20,000 m target; six rigs active. First assays from 37 holes' samples expected shortly; westward step-outs toward CV13 started.
21 Mar 2023capital raising announcement● Neutral
Transaction-specific prospectus for the flow-through placement: up to 2,215,134 shares (~22.15m CDIs) at C$22.572 per share (C$2.2572 per CDI). It lets the new CDIs be traded on ASX. Legal document; no new operational information.
What it means for a shareholder
22.1m new shares at C$22.57 to raise about C$500m. 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.
21 Mar 2023capital raising announcement▲ Good
The C$50m flow-through raising at C$22.57 per share is complete, with settlement expected 23 March 2023. Joint lead managers get a A$1,215,995.72 cash commission. Proceeds are for Corvette exploration, confirming the raising announced on 16 March.
16 Mar 2023capital raising announcement▲ GoodMajor
Firm commitments to raise about C$50m via charity flow-through shares at C$22.57, a 90% premium to the last TSX-V close. About 2.215m shares become ~22.15m CDIs; proceeds fund Corvette exploration. CEO says the company is funded well into 2024; CV5 resource now targeted June 2023.
What it means for a shareholder
2.2m new shares at about C$22.57 to raise about C$50.0m. 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.
2 Mar 2023other● Neutral
Monthly statement of securities for February 2023. Quoted CDIs rose from 158,571,800 to 225,263,150, with some warrant and option exercises. Administrative; no operational news.
