29 Sept 2017annual report● Neutral
Full-year statutory accounts to 30 June 2017, with the directors' report and board biographies. The visible text shows no board changes and no new results; financial figures were not shown in the extract.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Sept 2017admin correction● Neutral
Compliance notice for the first placement tranche: 120.7m shares issued raising $2,051,867, taking shares on issue from 482.8m to 603.5m. Fees about $132,000; placement not underwritten. Detail of the 20 September raising.
20 Sept 2017capital raising announcement● NeutralMajor
Placement of about $3m at $0.017 per share (up to about 179.5m shares) with one free option per two shares, exercisable at $0.03 until 31 Oct 2019. $2.05m comes first; $1m from directors and others needs shareholder approval. Funds advance Siviour studies.
What it means for a shareholder
180m new shares at about A$0.0167 to raise about A$3.0m. That's 27% dilution: every existing holder's slice gets 27% smaller. If you held A$1,000 of shares (59,833 at the issue price), your slice goes from 0.0124% to 0.00903% of the company. To keep it you'd need 22,246 more shares - about A$372 at the issue price.
Create a free account to see this worked out for your own holding.
5 Sept 2017regulatory community update▲ Good
Project update: pre-feasibility study due next quarter and definitive study in Q2 or Q3 2018. Improved flowsheet lifts recovery, early offtake talks have begun, and a mineral lease application is planned later this year. Spherical graphite and small-scale start-up studies are under way.
29 Aug 2017material agreement▲ GoodMajor
The Ausmin option terms are amended: exercise now requires $2.5m of project spend from 1 July 2017, replacing the earlier need for a completed definitive feasibility study. This sets a clearer, spend-based path to acquiring Siviour; the 22% equity consideration and 30 Sep 2018 deadline are unchanged.
24 Aug 2017investor presentation● Neutral
Presentation to the GMUSG and Mining 2017 conferences promoting Siviour as a Tier-1 graphite deposit, repeating known scoping study economics. No new information.
7 Aug 2017material agreement▲ Good
Awarded a $25,000 South Australian Future Jobs Fund grant for a business case on concentrate and downstream processing, including spherical graphite for batteries. Second state grant this year after the $100,000 testwork grant. Small in size.
31 July 2017quarterly activities report● Neutral
June quarter report recapping the scoping study and EM survey, and noting an advanced feasibility study and bulk sample preparation have started. Cash was about $1.2m at 30 June 2017, down from $1.7m. Mostly previously announced.
18 July 2017investor presentation● Neutral
July 2017 investor presentation promoting Siviour as a 'Tier-1' graphite deposit, repeating the scoping study figures (NPV10 A$551m, IRR 59%, cash cost A$450/t). No new information.
11 July 2017drilling result▲ Good
Airborne electromagnetic survey confirms Siviour's shallow, flat-lying shape and shows near-surface extensions towards the Buckies and Paxtons prospects, adjoining the Indicated Resource. Follows the May scoping study; no new resource figure, and data will feed mine planning.
9 June 2017dividend declaration▲ Good
Sets 30 May 2017 record date for Exploration Development Incentive tax credits totalling $276,791, to be distributed to eligible Australian-resident shareholders on 29 June 2017. Works out at 0.057331 cents per share across 482,793,861 shares.
23 May 2017investor presentation● Neutral
Presentation to the SA Resources & Energy Investment Conference repeating the scoping study results (NPV10 A$551m, 1.7-year payback) announced the previous day. No new information.
23 May 2017resource reserve update▲ GoodMajor
Scoping study (BatteryLimits) for a 20-year, 123,000tpa open pit and plant: after-tax NPV10 of A$551m, IRR 59%, capex A$144m, cash cost A$450/t. Preliminary; extra funding likely needed, possibly dilutive. Resolves the open scoping study thread; feasibility work follows.
9 May 2017material agreement▲ Good
Renascor won a $100,000 South Australian Government Future Industries Accelerator grant to fund metallurgical testing of Siviour graphite, including suitability for lithium-ion batteries. Work with University of South Australia starts immediately. Small in size.
28 Apr 2017quarterly activities report● Neutral
March quarter report recapping the resource upgrade to 80.6Mt and the metallurgical results. Cash fell to about $1.7m from $2.4m. Scoping study results are expected within two weeks. Mostly previously announced.
27 Apr 2017investor presentation● Neutral
Presentation to the Australian Graphite Conference positioning Siviour as a potential 'Tier 1' deposit, repeating the 80.6Mt resource and the Ausmin option terms (22% equity at feasibility). No new results.
31 Mar 2017well test result▲ GoodMajor
Metallurgical tests gave concentrate averaging 94% TGC at 85% recovery, with 48% of flake above 150 microns. Recovery is below the earlier 91% on a single sample, now on 14 holes' core. Company says this is enough to finish the scoping study next month.
17 Mar 2017resource reserve update▲ GoodMajor
Siviour resource upgraded to 80.6Mt at 7.9% TGC for 6.4Mt contained graphite (from 60.8Mt, 4.7Mt); Indicated 51.8Mt. Higher-grade 30.1Mt at 10.0% (from 22.2Mt). Now ranked ninth largest Indicated graphite resource reported worldwide, per the company.
15 Mar 2017half year report● Neutral
Half-year to 31 December 2016: loss of $352,847 (prior year $360,046). Recaps the EPM acquisition completed 5 December 2016 and the 60.8Mt Siviour resource. No new results.
7 Mar 2017drilling result▲ GoodMajor
Assays confirm the eastern extension, e.g. 27m at 11.6% TGC (Siv080) and 22m at 10.5% TGC (Siv098); northeast holes include 44m at 8.2%. A resource upgrade is expected next week, with metallurgical results later in March.
14 Feb 2017drilling result▲ GoodMajor
A 34-hole, 1,800m drill program finished at Siviour. Visible graphite in 12 eastern holes suggests the shallow +10% TGC zone extends at least another 1km east of the Indicated Resource. Assays due in 2-3 weeks; revised resource expected in March.
31 Jan 2017quarterly activities report● Neutral
December quarter report recapping the 60.8Mt resource, the 99% TGC test results and the high-grade zone drilling. Cash is about $2.4m, down from $2.7m. Scoping study is managed by BatteryLimits, with results due later this quarter. Mostly previously announced.
19 Jan 2017drilling result▲ GoodMajor
Final assays show a shallow +10% TGC zone about 1km long along the southern edge of the Indicated Resource, with potential to extend at least 1km east. Ten of eleven holes hit graphite. A follow-up drill program of up to 2,000m has started.
23 Dec 2016drilling result▲ GoodMajor
First assays from the 11-hole program confirm a shallow +10% TGC zone along the southern edge of the Indicated Resource, e.g. 32m at 9.6% from 13m, under about 8m of cover. It extends southeast and remains open. The scoping study is expanded to a large-scale case.
21 Dec 2016director officer appointment● NeutralMajor
Richard (Dick) Keevers, a director since July and former chair of EPM, becomes Non-Executive Chairman from 1 January 2017. Stephen Bizzell steps down as chair but stays on the board as a non-executive director. Keevers has over 40 years' resource experience.
5 Dec 2016farm in farm out completion▲ GoodMajor
Renascor completed the purchase of the remaining 51% of Eyre Peninsula Minerals, taking it to 100%, by issuing about 42.07m shares and 15m $0.05 options expiring 5 December 2019. This resolves the AGM-approval condition; the Ausmin option still requires a bankable feasibility study.
2 Dec 2016investor presentation● Neutral
Presentation to the South Australian Exploration and Mining Conference repeating known facts: the 60.8Mt Siviour resource and 99% TGC results. Shows cash of $2.7M and share price of $0.032. No new results.
1 Dec 2016other● Neutral
38,666,667 shares held by EPM shareholders will be released from voluntary escrow on 15 December 2016, following shareholder approval of the EPM acquisition at the AGM. Administrative notice; could add shares available for trading.
25 Nov 2016investor presentation● Neutral
Managing Director's AGM presentation repeating the 60.8Mt resource upgrade and 99% TGC test results. Shows cash of $2.66M at 31 October and share price of $0.031 on 22 November. No new results.
25 Nov 2016agm notice▲ Good
All resolutions passed at the AGM, including completing the EPM acquisition and Bizzell Capital Partners' participation in the placement. This clears the open approvals. The remuneration report drew 109.2m abstentions in proxies, and director share-plan issues had 76.7m abstentions.