19 June 2020agm notice● Neutral
Cover letter and proxy form for a General Meeting on 22 July 2020 in South Perth; proxies due 20 July. The text does not state the resolutions; presumably those tied to the acquisition (inference). Administrative.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 June 2020asset acquisition disposition● NeutralMajor
Binding deal to buy Vanatech, holding the Pascalle Gold (Paterson) and Gnama Nickel (Fraser Range) projects in WA, paid largely in shares with a performance component, plus a A$790,000 placement. A move beyond the Swedish vanadium assets; the trading pause on 1 June preceded it (inference).
1 June 2020listing compliance notice▼ BadMajor
ASX paused trading in ScandiVanadium shares on 1 June 2020 pending a further announcement. The text gives no reason; the reason is not yet known.
30 Apr 2020quarterly activities report● Neutral
March quarter: cash A$2.31m, costs cut, and grant-funded metallurgical work under way with first A$40,000 payment received and 15kg of samples at Processum. Tomelilla approval has been appealed by landowners to the Växjö court. Mostly repeats earlier announcements.
28 Apr 2020director officer appointment▼ BadMajor
Cost cuts citing COVID-19 uncertainty: cash A$2.31m at 31 March 2020, CEO salary cut 50% and general manager 80%, directors' fees suspended. Non-executive director Ian Burvill resigned, leaving the statutory minimum three directors. Review planned for July.
12 Mar 2020half year report● Neutral
Interim report for six months to 31 December 2019. Reviews the half's drilling and the maiden resource already announced. Financial figures are not in the text provided.
27 Feb 2020regulatory community update▲ Good
The Swedish Mining Inspectorate approved the Work Programmes for the ten-hole Tomelilla drilling, resolving the access question left open at the quarter. Landowners may still appeal to the Växjö court, so the right to drill is not yet secure.
21 Feb 2020material agreement▲ Good
Swedish government grant of 500,000 SEK (~A$80,000) via Vinnova/STRIM funds 75% of a metallurgical study with RISE, Processum and Clay Technology. It continues the earlier RISE work and tests pressure oxidation leaching to recover vanadium. Small in dollar terms.
31 Jan 2020quarterly activities report● Neutral
December quarter: drilling completed and maiden 116.9Mt @ 0.39% V2O5 resource published. Cash fell to A$2.47m (from A$3.2m) after A$0.69m outflow; A$0.25m outflow estimated next quarter. Tomelilla Work Programmes await Mining Inspectorate approval. Largely repeats known items.
18 Dec 2019resource reserve update▲ GoodMajor
Maiden JORC resource at Hörby: 116.9Mt @ 0.39% V2O5, of which 61.8Mt is Indicated and the rest Inferred, with 1,005 million pounds contained V2O5. This is the first resource at Skåne, and it appears to exceed the 50Mt @ 0.5% inferred-resource milestone in tonnes though at lower grade (inference).
29 Nov 2019drilling result▲ Good
Second batch of Hörby assays from three more holes: combined seams of 10.5-12.3m @ 0.39-0.40% V2O5, with dip of 5-8° east and no significant faulting. Results are consistent with the first batch and all five mineralised holes have now reported.
20 Nov 2019agm notice● Neutral
At the 20 November 2019 AGM shareholders passed a resolution amending the company constitution, as set out in the 18 October notice. The amended constitution is attached. Administrative; the text provided does not describe what changed.
14 Nov 2019drilling result● NeutralMajor
First Hörby assays: hole HDD001b shows two seams totalling 12.3m @ 0.40% V2O5 from 35.7m depth. That is well below the historic Fågeltofta-2 (9.7m @ 0.61%) about 40km away, though it confirms regional continuity. Remaining results due in coming weeks.
31 Oct 2019security holder rights change● Neutral
5,357,144 shares will be released from escrow on 14 November 2019. Administrative notice, with no change to the share count.
31 Oct 2019quarterly activities report● Neutral
September quarter: cash A$3.2m (from A$3.76m), operating outflow A$0.56m. Drilling began 9 August and finished 24 October with 602m. Tomelilla approval noted. Assays expected in the December quarter.
28 Oct 2019drilling result▲ GoodMajor
Maiden Hörby campaign finished: 602m across six holes, 92% core recovery, Dictyonema Formation hit in five. The programme was expanded, and dip was found shallower (5-7°) with less fault throw than assumed. Assays are expected in coming weeks.
10 Oct 2019regulatory community update▲ GoodMajor
The committee approved the 10-hole Tomelilla notification after the courts upheld the earlier appeal, resolving the June rejection. Further appeals are possible and the Mining Inspectorate must still approve access. Hörby drilling: 412m done, 70% of holes complete.
27 Sept 2019other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report; the governance statement is on pages 64-71. Administrative, no substance on operations.
26 Sept 2019annual report● Neutral
Annual report for year to 30 June 2019, the first since the Skåne acquisition. Restates the 11 licences, the $3m raising at 2.7c and the performance share terms. Financial figures are not in the text provided.
2 Sept 2019drilling progress report● NeutralMajor
Two of five Hörby holes done. Hole 1 hit the Dictyonema Formation shallow, confirming the historic Lyby-1 hole. Hole 2 did not, as the formation is deeper than the historic fault interpretation implied, so it was stopped. Progress slower than planned; no assays yet.
9 Aug 2019drilling spud▲ GoodMajor
Maiden drilling began at Hörby on the Skåne project, expected to take three weeks. Diamond holes up to 125m will test the thickness and grade of the Dictyonema Seam and supply core for metallurgical work. First drilling since the 2018 relisting.
6 Aug 2019investor presentation● Neutral
August investor presentation restating the Skåne vanadium story, with cash about A$3.7m at 30 June 2019 and 351.9m shares. It repeats known facts and contains no new results.
30 July 2019quarterly activities report● Neutral
June quarter: cash A$3.76m, down from A$4.0m. Hörby drilling notification approved, DrillCon appointed to start in August, and geophysics reprocessed. Largely repeats previously announced items; no drilling results yet.
19 July 2019regulatory community update▲ Good
Preliminary micro-XRF scans with RISE show vanadium evenly spread in the clay, with little difference between surface and drill-core samples. Tomelilla: the County Administrative Board upheld the company's appeal, but the committee is appealing to the Land and Environmental Court at Växjö.
8 July 2019drilling scheduled▲ GoodMajor
DrillCon Group appointed for the five-hole Hörby diamond programme, starting in August and expected to take three weeks. Holes up to 125m will test the Dictyonema Seam's thickness and grade. This resolves the contractor selection that was open.
21 June 2019admin correction● Neutral
Re-release of the 13 June Hörby geological update, amended only to add a JORC 2012 Table 1 because it contained maps from reprocessed geophysical data. No new results; the five-hole Hörby plan and twin of Lyby-1 are unchanged.
18 June 2019regulatory community update▼ BadMajor
Per Swedish media, the Ystad-Österlen committee rejected the 10-hole Tomelilla notification on 17 June and sent it to the County Administrative Board. This blocks the southern holes for now; the company expects it to be overturned. Hörby drilling continues, with contractor proposals under assessment.
13 June 2019other● Neutral
Geological update on Hörby: reprocessed airborne magnetic data supports the planned five-hole locations. One hole will twin historic hole Lyby-1, which showed an 11m formation but was never assayed for vanadium. Drill planning continues.
29 May 2019regulatory community update▲ GoodMajor
The County Administrative Board rejected the request to ban drilling at Hörby while appeals are pending. The company says all approvals are in place for five holes, though the appeals themselves are unresolved. Drilling timing awaits contractor arrangements.
24 May 2019regulatory community update▼ Bad
Appeals have been lodged against the Hörby approval, and the County Administrative Board will first consider a drilling prohibition. The Ystad-Österlen decision is deferred to a later meeting. A new 10-hole programme went to six landholders in Tomelilla.