Past year: ▼ 35%(5.30c – 8.90c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Aug 2015drilling result▼ BadMajor
Nine-hole, 1,609m program at Extension Tank found mafic meta-basalts with red-rock alteration but only low-level sulphides in the main anomalies. The company downgraded Extension Tank in its pipeline, a setback for the prospect; assays are due in three to four weeks.
31 July 2015quarterly activities report● Neutral
June quarter: cash about $1.075m at 30 June, excluding $419,000 received after quarter end from the raising. Recaps the infill surveys and the Extension Tank drilling under way. Also mentions the Carnding gold project in the Gawler Craton, with assays expected early August.
8 July 2015capital raising announcement▲ GoodMajor
Raising completed at $1.5m: $1.0m through the entitlement offer (retail $284,012, institutional $630,000, rest from underwriters) plus Acorn's $500,000, all at $0.02. A shortfall of 19.1m shares remains, which the company may place until 3 October. Drilling has begun.
1 July 2015drilling scheduled● Neutral
A rig is mobilised for a roughly 1,500m reverse circulation and diamond program at Extension Tank, starting early the following week and finishing mid to late July. Funded by the recent raising and the PACE grant. This is the follow-up drilling long flagged.
16 June 2015investor presentation● Neutral
Copper conference presentation repeating the Extension Tank case (8m at 0.45% Cu) and the raising. Shows 163.3m shares, share price $0.023 and market cap $3.756m on 12 June. No new results.
16 June 2015other▲ Good
New infill gravity and magnetic surveys at Extension Tank extend the gravity zone south of the two earlier scout holes and confirm a magnetic zone. These refine drill targets; drilling, partly PACE-funded, is due within three weeks. Not a drilling result.
10 June 2015other● Neutral
Administrative notice that the retail offer document and acceptance form for the entitlement offer have been sent to eligible shareholders. No new information.
9 June 2015admin correction● Neutral
Required disclosure on the 25m-share Acorn placement at $0.02 ($500,000): shares rise from 138.3m to 163.3m, about 15% dilution across the two placement capacities used. Not underwritten; fees about $30,000.
3 June 2015capital raising announcement▲ GoodMajor
The institutional part of the one-for-two entitlement offer raised $630,000 at $0.02 a share, with shares issued 12 June. It forms part of the up to $1.883m raising with Acorn's $500,000 placement; Extension Tank drilling is due later in June.
2 June 2015other● Neutral
ASX notice setting out the timetable for the accelerated entitlement offer: retail offer closes 3 July 2015 and new retail shares are issued 9 July. Administrative; no new information beyond the raising already announced.
2 June 2015investor presentation● Neutral
Capital raising presentation repeating the Extension Tank case and the Acorn Capital placement and underwritten offer. Shows 138.3m shares, cash $0.255m at 31 March, share price $0.021 on 28 May and market cap $2.9m. No new results.
2 June 2015capital raising announcement● NeutralMajor
Raising up to $1.883m at $0.02 per share: $500,000 placement of 25m shares to Acorn Capital plus a one-for-two rights offer to raise up to $1.383m, underwritten to $1m. Every two new shares carry a free $0.03 option. Funds the Extension Tank drilling due this month.
2 June 2015capital raising announcement● Neutral
Retail offer booklet for the one-for-two rights issue at $0.02, with a free $0.03 option (expiring 30 September 2016) per two new shares. Offer runs 10 June to 3 July 2015, underwritten to $1.0m by Bizzell Capital Partners and PAC Partners. Documents the raising already announced.
30 Apr 2015quarterly activities report▼ Bad
March quarter: cash down to about $0.255m. First of four tenement transfers completed under the $250,000 sale. Recaps Extension Tank results; follow-up drilling is expected this quarter. No new drilling results.
16 Apr 2015regulatory community update▲ Good
Awarded a $50,000 South Australian Government PACE grant toward Extension Tank drilling. The remaining $250,000 tenement-sale balance is expected within a month, and follow-up drilling is expected later this quarter.
14 Apr 2015investor presentation● Neutral
Adelaide conference presentation repeating Extension Tank (8m at 0.45% Cu) as an advanced IOCG prospect with an untested high-density zone. Shows cash about $0.6m at 31 December, share price $0.026 on 10 April and market cap $3.6m. No new results.
16 Mar 2015asset acquisition disposition● NeutralMajor
Renascor agreed to sell four non-core Olary tenements to unlisted companies for $250,000 cash, with $77,500 already received and the rest after regulatory approvals. It intends to use the money to accelerate Eastern Eyre drilling.
12 Mar 2015half year report▼ Bad
Half-year to 31 December 2014: loss of $3,617,614 versus $763,374 a year earlier. Recaps Extension Tank and 1050 East results, the 500,000 shares issued to Currie for the EL 5400/5401 option, and surrendered Farina licences and the relinquished Pirie Basin option.
18 Feb 2015security holder rights change● Neutral
750,000 unlisted options at $0.24 expired on 17 February 2015. Only 750,000 options at $0.054, expiring 30 April 2016, remain. Administrative.
30 Jan 2015quarterly activities report● Neutral
December quarter: recaps the Extension Tank results (8m at 0.45% Cu) and says follow-up drilling will target the untested high-density zone and a chargeability anomaly. Cash fell to about $0.577m from $1.093m at 30 September, so funding is a pressing question (inference).
28 Jan 2015drilling result▲ GoodMajor
Final assays confirm the first Extension Tank hole hit 8m at 0.45% copper from 64m with hematite; the second hole, 300m north, found 42m of hematite alteration with trace copper sulphide. Both tested only the upper part of the 6 MGal gravity target; follow-up drilling due this quarter.
2 Jan 2015security holder rights change● Neutral
4,700,000 unlisted options at $0.24 expired on 31 December 2014. Remaining unlisted options are 750,000 at $0.24 (expiring 17 February 2015) and 750,000 at $0.054 (expiring 30 April 2016). Administrative.
5 Dec 2014investor presentation● Neutral
Conference presentation repeating the 1050 East discovery and the visual Extension Tank results, with assays from recent drilling still pending. Says drilling recommences in early 2015. No new results.
3 Dec 2014drilling result▲ GoodMajor
First drilling at Extension Tank found visible sulphide including chalcopyrite over 8 m from 64 m, and 42 m of hematite alteration in a second hole 300 m north. Management calls it a possible iron-oxide copper-gold system; assays due in two to three weeks.
27 Nov 2014investor presentation● Neutral
AGM presentation by the managing director repeating the 1050 East discovery and saying drilling is underway at multiple targets. Shows 136.9m shares, share price $0.036 on 26 November and cash about $1.1m. No new results.
13 Nov 2014drilling scheduled● Neutral
Rig mobilised for up to 1,000 m of reverse circulation drilling starting next week, first testing Extension Tank, Nilginee and Knights plus follow-up at 1050 East. Assays are expected in early December. Carries out the plan flagged in September.
31 Oct 2014quarterly activities report● Neutral
September quarter: cash about $1.093m. Recaps two 1050 East diamond holes with assays pending and soil anomalies at Nilginee and Knights, and adds Extension Tank as a priority gravity target. Drilling expected from November. No new assay results.
29 Oct 2014investor presentation● Neutral
Conference presentation repeating the 1050 East discovery and the 1,500 sq km landholding. Shows cash about $1.1m at 30 Sep, share price $0.028 on 27 Oct and market cap $3.8m, down from $0.044 in August. Drilling due November. No new results.
30 Sept 2014annual report● Neutral
Annual report for the year to 30 June 2014. The chairman describes the 1050 East copper discovery (13m at 1.45% Cu) as the year's breakthrough and says it is not yet reflected in the share price. Financial detail was not in the text provided.
30 Sept 2014regulatory community update▲ Good
Soil sampling by portable XRF found anomalous copper over three gravity targets, notably Nilginee (over about 400 m by 400 m, with a large gravity anomaly), plus Knights and Highway. These become drilling priorities, with drilling planned next quarter.
