18 Oct 2018regulatory community update▲ Good
Six of the nine outstanding Skåne exploration permit applications were granted, lifting granted permit area to about 142km2. This continues the permit thread that began with two permits granted in July.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 Oct 2018capital raising announcement▲ GoodMajor
The public offer received applications and commitments above the A$3m maximum, confirming the Skåne raising is fully covered. The closing date was extended to 19 October 2018 to allow settlement.
1 Oct 2018regulatory community update● Neutral
Supplementary prospectus says the Skåne plan of operations will go to the Swedish Mining Inspectorate in October 2018, aiming to start drilling in early 2019. Approval takes at least three weeks, possibly three months. Also updates the offer timetable.
28 Sept 2018quarterly activities report● Neutral
August 2018 monthly update: work continued on the Skåne acquisition. Operating outflow was A$33k and cash fell to A$2.366m. Estimated outflow next month is A$65k.
18 Sept 2018capital raising announcement● Neutral
Prospectus lodged for the Skåne re-compliance: 92.6m shares at 2.7c to raise A$2.5m, with up to A$500k oversubscriptions. It also offers vendor shares and 112.5m performance shares, noteholder shares, and 47.5m management and 12.5m adviser options. Conditional on the public offer.
What it means for a shareholder
92.6m new shares at A$0.027 to raise about A$2.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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17 Sept 2018annual report● Neutral
Annual report for the year to 30 June 2018: loss of A$311,091 (2017: A$395,427). It restates the planned ScandiVanadium acquisition, after which the company will seek ASX re-compliance listing and begin exploring Skåne.
17 Sept 2018annual report● Neutral
Appendix 4G lodged with the annual report. It says the corporate governance statement is on pages 45-53 and is current to 14 September 2018. No new business information.
17 Sept 2018resource reserve update▲ GoodMajor
Shareholders approved the Skåne acquisition and relisting at the 12 September meeting. An Exploration Target (not a resource) of 610-1,200Mt at 0.5-0.8% V2O5 was set for the whole project, and 350-440Mt within granted permits, based on limited historic data.
11 Sept 2018security holder rights change● Neutral
Notice of the 3-for-4 share consolidation tied to the Skåne deal, effective 14 September 2018. Shares fall from about 238m to about 178.5m and options from 25m to 18.75m, with option exercise price rising to about A$0.0267.
31 Aug 2018quarterly activities report● Neutral
July 2018 monthly update: work continued on the Skåne vanadium acquisition. Operating outflow was A$95k, including A$69k of project acquisition expenses, and cash fell to A$2.399m.
20 Aug 2018annual report● Neutral
Preliminary results for the year to 30 June 2018: loss of A$311,091, down 21%, and net tangible assets of 0.98 cents per share versus 1.10 cents. No dividend. Reflects the shell period before the Skåne deal.
10 Aug 2018capital raising announcement▲ GoodMajor
Following strong indicative interest, the company will accept up to A$500k oversubscriptions, lifting the maximum raising for the Skåne deal to A$3m (minimum A$2.5m) at 2.7c per share. A shareholder meeting on 12 September 2018 will vote on the acquisition.
6 Aug 2018other● Neutral
ASX administrative notice re-confirming the company's shares remain suspended after a market announcements platform upgrade. No change in status.
31 July 2018quarterly activities report● Neutral
June 2018 monthly update: the company spent the month on due diligence for the Skåne vanadium deal announced the same day. Operating outflow was A$12k and cash A$2.494m. Next month's estimated outflow rises to A$103k.
31 July 2018asset acquisition disposition▲ GoodMajor
After a shell period since the platform closed in December 2017, AssembleBay agreed to buy ScandiVanadium, holder of the Skåne Vanadium Project in Sweden (permits mostly still under application). Payment is 56.25m shares plus 112.5m performance shares, with a A$2.5m raising at 2.7c, after a 3-for-4 consolidation. Needs shareholder and ASX approval.
29 June 2018quarterly activities report● Neutral
May 2018 monthly update: acquisition search continues, with no target named. Operating outflow was only A$2k and cash A$2.506m.
18 May 2018quarterly activities report● Neutral
April 2018 monthly update: the company kept looking for an acquisition, with no target named. Operating outflow was A$12k and cash A$2.508m.
20 Apr 2018quarterly activities report● Neutral
March 2018 monthly update: acquisition search continues, with no target named. Operating outflow was A$12k and cash A$2.52m.
29 Mar 2018quarterly activities report● Neutral
February 2018 monthly update: acquisition search continues, with no target named. Operating outflow was A$15k and cash A$2.53m.
28 Feb 2018quarterly activities report● Neutral
January 2018 monthly update: the company continued looking for an acquisition, with no target named. Operating outflow was A$12k and cash A$2.55m.
23 Feb 2018security holder rights change● Neutral
Notice that 28,000,000 ordinary shares and 25,000,000 options exercisable at A$0.02 expiring 4 March 2019 will be released from escrow on 12 March 2018. Administrative notice; no new capital is raised.
30 Jan 2018quarterly activities report● Neutral
December 2017 monthly update confirms the platform closed with 2,860 registered users and no revenue. Cash was A$2.56m. The company is pursuing new acquisition opportunities across all sectors, as announced on 8 December.
30 Jan 2018half year report● Neutral
Half-year to 31 December 2017: no revenue and a loss of A$138,940, down from A$255,066 a year earlier. Net tangible assets are 1.05 cents per share. The assembly business is reported as discontinued and the company is evaluating new strategic opportunities.
18 Dec 2017quarterly activities report● Neutral
November 2017 monthly update: 2,800 registered users, A$90 of jobs completed and no revenue. Cash fell to A$2.55m after a A$17k operating outflow. The platform was closed days later, on 8 December.
11 Dec 2017material agreement termination▼ BadMajor
AssembleBay ceased its assembly marketplace and shut the platform and website immediately. About A$48,000 of marketing failed to build a viable marketplace. It will seek a new acquisition needing shareholder approval and ASX re-admission, with shares suspended meanwhile; if shareholders reject, it proposes to wind up and return assets.
30 Nov 2017quarterly activities report● Neutral
October 2017 monthly update: 2,622 registered users, A$60 of jobs completed and no revenue. Cash eased to A$2.57m after a A$12k operating outflow. The limited marketing program was still running.
31 Oct 2017quarterly activities report● Neutral
September 2017 monthly update: 2,458 registered users, A$90 of jobs completed and no revenue. Cash fell to A$2.58m from A$2.62m after A$35k operating outflow. The limited SEO/AdWords marketing program continues, with little to show for it.
29 Sept 2017production update● Neutral
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29 Sept 2017annual report● Neutral
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29 Sept 2017annual report● Neutral
Appendix 4G for the year to 30 June 2017, lodged with the annual report. It says the corporate governance statement is on pages 44-52 and is current to 28 September 2017. No new business information.