14 Mar 2012half year report● Neutral
Half-year accounts to 31 December 2011 show a loss of $18,911 versus $877,335 a year earlier. Restates known operational highlights; BDO (SA) is listed as auditor. The excerpt does not explain the small loss.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Feb 2012investor presentation● Neutral
Paydirt Uranium Conference presentation largely repeating known Cutana, Pirie Basin and Gairdner results. Shows share price $0.072 (market cap $8.2m, at 27 February) and cash $6.6m at 31 December 2011; says next stage is fully funded.
28 Feb 2012drilling result▲ Good
Infill soil sampling at Cutana's Pinery prospect confirmed a gold anomaly of about 2,000 by 500 m, peaking at 53 ppb (up from the 37 ppb, 1,500 by 300 m found in January). Described as the company's strongest soil gold target; drilling is due in March.
27 Feb 2012farm in farm out agreement▲ GoodMajor
Joint venture with SAEX gives an option to earn 80% of EL 4836 (164 km2), directly north of the 100%-owned Gairdner Project. Costs $10,000 for a two-year option; exercise is 750,000 shares or $75,000, then $500,000 spend over up to three years. Targets are IOCGU and silver.
1 Feb 2012director officer appointment● NeutralMajor
Chairman David Macfarlane retired effective 31 January 2012 owing to his family's move to the UK. Director Stephen Bizzell becomes Non-Executive Chairman, and consultant geophysicist Chris Anderson joins the board as a Non-Executive Director.
31 Jan 2012quarterly activities report● Neutral
December quarter: Cutana drilling returned anomalous gold, copper and uranium but nothing significant at Duffers Dam or Bulloo Mag; Pinery gold anomaly defined; three new Pirie Basin uranium drill areas identified. Mostly repeats earlier releases. Cash not shown in the excerpt.
30 Jan 2012drilling result● NeutralMajor
Duffers Dam and Bulloo Mag drilling found no significant mineralisation, a negative for two of the five original gold targets. Separately, new soil sampling at Cutana's eastern block defined a Pinery gold anomaly (up to 37 ppb, 1,500 by 300 m); infill sampling is planned.
23 Dec 2011drilling result● Neutral
Re-release of the 22 December Cutana drilling update with detailed assay tables added. Same results: Heinrichs 4 m at 0.35 g/t gold, Shorts Dam 4 m at 130 ppm uranium. No new findings.
22 Dec 2011drilling result● Neutral
First Cutana drilling results: 33 holes (2,100 m) completed. Heinrichs best 4 m at 0.35 g/t gold and 2 m at 0.29% copper; Shorts Dam 4 m at 130 ppm uranium. Duffers Dam and Bulloo Mag results due January; about 20 more holes planned from February.
2 Dec 2011investor presentation● Neutral
Conference presentation repeating known facts: Cutana's 4,000 m drilling is underway through January 2012 with first results expected in the March quarter 2012. Share price $0.055, cash $6.7m.
30 Nov 2011other● Neutral
Administrative notice that 750,000 shares and 1.1m unlisted options ($0.24) come out of ASX escrow on 15 December 2011. No new project or financial information.
17 Nov 2011investor presentation● Neutral
AGM presentation shows 113.25m shares, share price $0.046 (market value $5.2m) and cash $6.7m at 16 November 2011. Says next-stage drilling is fully funded. Otherwise repeats known Pirie Basin, Glensea and Cutana results.
17 Nov 2011other● Neutral
AGM chairman's address blames the Fukushima aftermath for sector turmoil and says the board has rebalanced investment away from non-core uranium prospects. Gives no figures; details were left to the Managing Director.
16 Nov 2011drilling spud▲ GoodMajor
Drilling starts at 100%-owned Cutana: a 4,000 m reverse circulation program of about 50 holes across the five gold targets near White Dam. All approvals, including heritage clearance, are in hand. Two prospects start this week, three in December or January. Resolves the pending clearances.
28 Oct 2011quarterly activities report● Neutral
September quarter: infill soil sampling at Cutana confirmed five gold drill targets near White Dam, Glensea core drilling found hematite alteration with anomalous copper, gold and uranium, and Pirie Basin stratigraphy work began ahead of next drilling. Largely repeats earlier announcements.
12 Oct 2011admin correction● Neutral
Addendum to the annual report adds the required table of restricted securities at 1 September 2011: 750,000 shares escrowed to 15 December 2011 and 37,170,999 shares to 15 December 2012, plus escrowed options. Administrative only.
29 Sept 2011drilling result● Neutral
Core hole 11RPBRD06 at Glensea, drilled to 318.5 m beneath the 0.42% copper zone, found about 20 metres of hematite alteration but no obvious sulphides. Company says this hints at iron-oxide copper-gold-uranium potential; assays are pending and follow-up targets lie to the east.
28 Sept 2011annual report● Neutral
First annual report since the December 2010 $8m IPO. The chairman highlights Pirie Basin uranium, Glensea copper and Cutana gold, with Cutana first-pass drilling expected soon pending clearances. Financial statements are not in the excerpt.
14 Sept 2011drilling scheduled▲ Good
A rig is contracted to core drill beneath the Glensea copper intersection (12 m at 0.42%) in EL 3978, aiming for at least 100 m of fresh basement. Further core drilling of nearby targets depends on results. Follows the August copper result.
6 Sept 2011drilling scheduled▲ Good
Close-spaced infill soil sampling at Cutana narrowed the gold anomalies to five high-priority drill targets near White Dam, including Duffers Dam, Bulloo Mag and Heinrichs. Drilling is scheduled for next quarter, pending regulatory and land access clearances.
12 Aug 2011other● Neutral
Administrative notice that 5,487,334 shares will be released from ASX escrow from 1 September 2011. No new project or financial information.
11 Aug 2011drilling result▲ GoodMajor
A Pirie Basin rotary hole at the Glensea Prospect returned 12 metres at 0.42% copper from 186 m to end of hole, with some gold, uranium and rare earths. Company sees possible iron-oxide copper-gold-uranium style mineralisation, a new copper angle. Core drilling is planned.
29 July 2011quarterly activities report● Neutral
June quarter: the Pirie Basin program finished with 31 holes, thick uranium-host sands and elevated uranium readings, and seven gold zones were identified at Cutana. Largely repeats the July announcements. Routine quarterly; cash figures not shown in the excerpt.
28 July 2011drilling result▲ GoodMajor
Pirie Basin's first program (31 rotary holes, ~4,300 m) found thick Eocene sands suited to in situ recovery in all 26 target-area holes. Best uranium readings were 11 m at 102 ppm eU3O8 in basement clay and 0.44 m at 84 ppm in sands. Closer-spaced drilling is next; no discovery yet.
19 July 2011drilling result▲ Good
Completed soil sampling at Cutana found seven further strongly anomalous gold zones southwest of White Dam, in addition to the northern targets. Some resemble neighbouring Vertigo and Ambush prospects. Infill sampling to define drill positions starts next week; no drilling yet.
6 July 2011other● Neutral
Administrative notice that 20,141,667 shares will be released from ASX escrow and can be traded from 2 August 2011. No new project or financial information.
23 June 2011drilling result▲ Good
Soil sampling at the 100%-owned Cutana Project found five areas of strong anomalous gold (peaks above 10 ppb in three) just north of the White Dam gold mine. Results for the larger southern block are pending; drilling is a later step. Follows April's Cutana sampling start.
17 June 2011director officer appointment● Neutral
Duncan Cornish resigned as joint Company Secretary effective 15 June 2011. Angelo Gaudio continues as CFO and sole Company Secretary and is the ASX listing rule contact.
25 May 2011drilling result▲ GoodMajor
First Pirie Basin drill results: all nine rotary holes hit thick Eocene sands (up to 60 metres), the same host as nearby Mullaquana, with gamma readings up to 0.010% eU3O8 at about 120 metres. A further 2,000 metres is planned to find mineralised traps. Early encouraging, not yet a discovery.
29 Apr 2011quarterly activities report▲ Good
March quarter: the 3,500 metre Pirie Basin drilling began, with preliminary results suggesting Eocene sands extend into Renaissance's area. Cutana uranium and gold targets and Farina conductors were also identified. Drilling continues through May; routine quarterly.