Past year: ▼ 35%(5.30c – 8.90c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Sept 2014drilling result▲ Good
Two diamond holes at 1050 East show visible copper sulphide (chalcopyrite) down-dip of the earlier 13m at 1.45% Cu hit, e.g. about 228-235 m and 244-267 m in EEDD027. Assays are pending, expected in three to four weeks; visual results only.
21 Aug 2014drilling scheduled● NeutralMajor
Rig mobilised for up to 1,000 m of diamond drilling at 1050 East, starting next week, to test for thicker massive sulphides below earlier hits. Soil sampling along the fault also starts. Resumes drilling after the earlier EM work.
20 Aug 2014investor presentation● Neutral
Investor update repeating the 1050 East discovery and follow-up drilling due August. Shows 136.4m shares, share price $0.044 on 19 August, market cap $6.0m and cash about $1.4m at 30 June. No new results.
12 Aug 2014drilling result▲ Good
Lab assays upgrade earlier XRF readings: 26m at 0.10% Cu from 92m (EERC017), and 6m at 0.52% Cu at the Quandong prospect about 2 km southwest. Shows a copper halo beside the massive sulphides; still low grade. Drilling to restart this month.
29 July 2014quarterly activities report● Neutral
June quarter: cash about $1.425m. Reports the shallow scout drilling, the drill-hole EM survey (the main sulphide zone is conductive), the started MLTEM survey and Ozone and Laura targets. Drilling expected to restart this quarter. No new major results.
23 July 2014drilling progress report● Neutral
Moving loop EM survey started at 1050 East and at 1050 South, about 2 km south, to target massive sulphide extensions. Expected to finish within two weeks, with drilling later this quarter. Carries out the plan from 8 July; no results yet.
8 July 2014drilling scheduled● Neutral
New exploration phase: a ground EM survey at 1050 East and soil sampling over more than 10 km of the Angle Dam fault, with drilling due to restart later this quarter. Builds on the 8m at 2.2% Cu intercept; no new results.
17 June 2014drilling result● NeutralMajor
Nine shallow holes east of the high-grade zone found only low-grade copper over 1,200 m, based on field XRF readings (e.g. 38m at 507 ppm Cu). Management says the intercepts are not economic. Next drilling targets porphyry to the south and massive sulphides.
16 June 2014investor presentation● Neutral
Conference presentation repeating the 1050 East discovery (13m at 1.45% Cu) and the 1,500 sq km landholding. Shows 131.4m shares, share price $0.050 and market cap $6.6m on 12 June. No new results.
2 June 2014capital raising announcement▲ GoodMajor
Share Purchase Plan closed with applications for 9.91m shares, raising $495,500 at $0.05. Combined with the $584,500 placement, total raised is $1.08m, for Eastern Eyre drilling. Completes the raising launched in April.
What it means for a shareholder
9.9m new shares at A$0.050 to raise about A$495,500. That's 7.5% dilution: every existing holder's slice gets 7.5% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.0165% to 0.0152% of the company. To keep it you'd need 1,632 more shares - about A$82 at the issue price.
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22 May 2014drilling spud● Neutral
Rig mobilised for the planned 1,500 m reverse circulation program at 1050 East, due to start early next week, first testing the shallow eastern IP zone. Finishes early June, assays three to four weeks later. Starts the drilling flagged in April.
20 May 2014regulatory community update▲ Good
Magnetic and gravity targets identified at Ozone and Laura, north of 1050 East, on newly granted licences EL 5400 and EL 5401 under the Currie option. Drilling is expected after the 1050 East program. The licence grant moves the Currie option thread forward.
16 May 2014quarterly activities report● Neutral
Tenement schedule supplementing the March quarter report. Shows Eastern Eyre licences at 100%, option-held licences, and surrendered Amadeus Basin and Quinyambie licences. Administrative; no new information.
5 May 2014capital raising announcement● Neutral
Placement shares issued: 6,640,000 at $0.05 raising $332,000, lifting shares on issue from 114.8m to 121.44m (5.47% dilution). Fees about $40,000. Remaining placement shares, including the directors' portion, await approval.
5 May 2014capital raising announcement● Neutral
Share Purchase Plan booklet sent to shareholders: up to $15,000 each at $0.05, opening 6 May and closing 27 May 2014, with allotment on 30 May. Combined raising with the placement is up to $1.435m. Implements the 22 April raising.
30 Apr 2014drilling scheduled▲ Good
Drill contract signed for about 1,500 m of reverse circulation drilling at 1050 East, starting next month, first testing the shallow eastern IP zone. Additional copper anomalies were identified along strike. Follows the March IP result; no new assays.
30 Apr 2014quarterly activities report● Neutral
March quarter: cash about $1.0m, down from $1.4m. Reports the shallow IP zone, additional copper anomalies and the drill contract, and notes the post-quarter placement of about $0.6m plus the SPP. No new drill results.
22 Apr 2014investor presentation● Neutral
Capital raising presentation repeating the 1050 East discovery (13 m at 1.45% Cu) and the 1,400 m x 400 m shallow target. Shows cash about $1.0m at 31 March, share price $0.073 and market cap $8.4m. No new results.
22 Apr 2014capital raising announcement● NeutralMajor
Placement of 11.69m shares at $0.05 to raise about $0.6m, plus a Share Purchase Plan capped at $861,000 at the same price. Funds are for accelerated Eastern Eyre drilling from May 2014 and working capital. Confirms the raising flagged by falling cash (earlier inference); directors take $0.17m, subject to shareholder approval.
What it means for a shareholder
11.7m new shares at A$0.050 to raise about A$600,000. That's 9.2% dilution: every existing holder's slice gets 9.2% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.0174% to 0.0158% of the company. To keep it you'd need 2,037 more shares - about A$102 at the issue price.
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20 Mar 2014other● Neutral
Notice that broker PAC Partners has published an initiation-of-coverage research report on Renascor, available on the company website. No new company information in the announcement itself.
13 Mar 2014half year report● Neutral
Half-year to 31 December 2013: loss of $763,374 (prior year $194,295). Recaps the 1050 East copper-cobalt-silver discovery, the Currie option over two licences (314 sq km) and tenement surrenders in SA and NT. No new exploration results.
13 Mar 2014admin correction● Neutral
Company re-lodged its 6 March IP announcement after ASX asked for more detail in the JORC Table 1. Only 'not applicable' entries were reworded to say no drilling or samples were taken in the IP survey. No new results.
6 Mar 2014drilling scheduled▲ GoodMajor
A detailed IP survey shows a shallow sulphide zone east of the 1050 East copper hits, about 1,400 m by 400 m, under 40 m deep and 40-70 m thick. Drilling of near-surface copper targets is planned this month, aiming at a possible open-pit resource.
22 Jan 2014quarterly activities report● Neutral
December quarter: cash about $1.4m, down from $2.2m. Repeats the 1050 East results, including 13 m at 1.45% Cu in EEDD012, from the completed 1,100 m diamond program. Falling cash may point to a capital raising (inference).
21 Jan 2014drilling result▲ GoodMajor
Assays confirm high-grade copper at 1050 East: 13 m at 1.45% Cu, 66 ppm Ag and 0.17% Co in EEDD012, including 8 m at 2.2% Cu. All five holes on the main section hit, open in all directions. Next-stage drilling is being planned.
18 Dec 2013drilling result▲ GoodMajor
Diamond hole EEDD012 hit 8 m of massive sulphide with chalcopyrite (assays pending); EEDD008 assayed 14 m at 0.61% Cu. Sulphide is now shown over at least 150 m east-west, open north and south. Full assays are expected mid-January.
16 Dec 2013security holder rights change● Neutral
8,100,000 unlisted options at $0.24 expired unexercised on 15 December 2013. Remaining unlisted options: 4.0m, 700,000 and 750,000 at $0.24 plus 750,000 at $0.054, about 6.2m in total.
6 Dec 2013other● Neutral
Shareholders approved the change, and the company is now Renascor Resources Limited, keeping ASX code RNU. This completes the name change flagged on 14 November. New website is renascor.com.au.
29 Nov 2013other● Neutral
AGM chairman's address: says progress is not reflected in the share price, calls the Eastern Eyre copper-cobalt-silver discovery a highlight, and cites $2.2m cash at 30 September. Repeats known facts; no new information.
29 Nov 2013investor presentation● Neutral
AGM presentation by the Managing Director repeating the Eastern Eyre story. Share price $0.050 (market cap $5.7m on 28 November); cash $2.2m at 30 September. Seeks approval for the name change to Renascor Resources. No new results.
