Past year: ▼ 35%(5.30c – 8.90c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
5 Mar 2020half year report▼ BadMajor
Half-year accounts to 31 December 2019 carry a BDO review report with an emphasis of matter on material uncertainty about the company's ability to continue as a going concern. The conclusion is not modified. Financial figures are not shown in the excerpt.
3 Mar 2020debt financing▲ GoodMajor
Export Finance Australia issued a letter of support saying it will consider financing Siviour and the spherical graphite project, subject to due diligence. This adds to Atradius's earlier interest in about 60% of capex. It is not a funding commitment.
22 Jan 2020admin correction● Neutral
Re-release of the 9 December share purchase plan document to fix an error in the application form. No other changes; the plan was fully subscribed and closed on 3 January 2020. No new information.
6 Jan 2020capital raising announcement▲ GoodMajor
The share purchase plan closed with valid applications for $500,000, bringing the total raised with the December placement to $1.883m at $0.011. Directors applied for $137,000 of placement shares, which still need shareholder approval. This resolves the raising.
20 Dec 2019capital raising announcement● Neutral
The share purchase plan closing date is extended two weeks to 3 January 2020 because shareholders reported slow postal delivery. The offer remains up to $500,000 at $0.011, with shares now due to be allotted on 13 January 2020.
18 Dec 2019material agreement▲ Good
Non-binding MOU with Sydney-based Sicona Battery Technologies to jointly develop silicon-graphite battery anode material using Siviour purified spherical graphite. A binding agreement is expected early next quarter. Not yet a commercial deal and no payments are stated.
11 Dec 2019regulatory community update▲ GoodMajor
South Australia's mining department approved the plan to extract a 60 tonne bulk sample from Siviour. Ore will go to a pilot plant in China to make large marketing samples for potential buyers. Drilling is expected next month. This supports the offtake push.
9 Dec 2019capital raising announcement● Neutral
Offer letter and booklet for the share purchase plan: eligible holders can apply for up to A$30,000 of shares at A$0.011 to raise up to A$0.5m, alongside the A$1.4m placement. Closes 20 December 2019. Funds go to bulk sampling, FEED and debt work.
6 Dec 2019security holder rights change● Neutral
15 million unlisted $0.05 options expired unexercised on 5 December 2019. No cash was raised from them and the options no longer exist. Administrative.
5 Dec 2019capital raising announcement● NeutralMajor
Raising $1.4m through a placement of 125.7m shares at 1.1 cents, a 15.4% discount to the last close, to fund FEED, bulk samples and offtake work. A share purchase plan will offer up to $0.5m more at the same price. This addresses falling cash ($1.8m at 30 September).
What it means for a shareholder
126m new shares at A$0.011 to raise about A$1.4m. That's 9.8% dilution: every existing holder's slice gets 9.8% smaller. If you held A$1,000 of shares (90,909 at the issue price), your slice goes from 0.00784% to 0.00707% of the company. To keep it you'd need 9,856 more shares - about A$108 at the issue price.
Create a free account to see this worked out for your own holding.
5 Dec 2019investor presentation● Neutral
Presentation supporting the $1.4m placement at 1.1 cents and $0.5m share purchase plan, repeating the DFS highlights (NPV10 A$388m, capex A$114m). The excerpt shows no new project results.
29 Nov 2019investor presentation● Neutral
Conference presentation repeating the DFS results. Next steps listed are offtake talks, a PEPR lodgement expected by year-end, and Atradius cover of up to about 60% of Stage 1 capex. Shows 1,159m shares and $1.8m cash. No new information.
20 Nov 2019investor presentation● Neutral
AGM presentation recapping 2019 highlights, including the DFS, spherical PFS, resource upgrade and Mineral Lease. Shows 1,159m shares, $1.8m cash and a $16.2m market cap at $0.014. No new results.
18 Nov 2019other▲ Good
Tests by US firm Urbix using a low-temperature purification method produced battery-grade graphite up to 99.98% carbon from Siviour concentrate. This is a second purification route after caustic roasting, with potential cost savings; these are test results, not a commercial agreement.
11 Nov 2019investor presentation● Neutral
Presentation of the 11 November DFS results (NPV10 A$388m, IRR 33%, capex A$114m). Shows $1.8m cash, no debt, 1,153m shares and a $15.0m market cap at $0.013. No new results.
11 Nov 2019resource reserve update● NeutralMajor
Siviour DFS delivered: post-tax NPV10 A$388m, IRR 33%, start-up capex A$114m, 80ktpa in Stage 1. Value is well below the Feb 2019 spherical PFS (A$889m) as prices were cut 22%. Up to 60% of capex may get Atradius support; extra funding is still needed.
1 Nov 2019security holder rights change● Neutral
All 114,761,096 listed $0.03 options expired unexercised on 31 October 2019, so no money was raised from them. Shares on issue stay at about 1,153m. This resolves the option-expiry thread; the shares were trading below the exercise price.
14 Oct 2019admin correction● Neutral
Corrects the voting entitlement record date in the 11 October AGM notice to 7.00pm on 15 November 2019. Administrative correction only, with no new information on the project or finances.
2 Oct 2019security holder rights change● Neutral
Notice to holders that 114.76m listed $0.03 options expire 31 October 2019, with quotation ending 25 October. Shares closed at $0.015 on 1 October, below the $0.03 exercise price, so exercising would currently cost more than buying shares on market.
1 Oct 2019other● Neutral
DFS update: engineering and technical work are complete and cost estimation is in its final stages. The company is awaiting updated graphite price data. Results are now expected this quarter (to December), after earlier targets of June and then September.
30 Sept 2019annual report● Neutral
2019 annual report (year to 30 June) with the chairman's letter on Siviour's advantages and the year's progress. The excerpt shows no new figures; the chairman calls the year challenging for ASX-listed graphite companies.
30 Sept 2019annual report● Neutral
Appendix 4G and 2019 Corporate Governance Statement lodged alongside the annual report. Administrative compliance filing with no new information on the project or finances.
12 Aug 2019other▲ Good
Caustic-roasting tests produced battery-grade spherical graphite from Siviour concentrate, confirming the spherical PFS design assumptions and suggesting possible cost savings. Samples go to potential offtake partners. DFS results are now expected next month.
20 June 2019investor presentation● Neutral
June 2019 presentation repeating known Siviour facts, including the April resource upgrade and May development plan. Shows 1,153m shares, $4.1m cash at 31 March, no debt, and a $25.4m market cap at $0.022. No new results.
3 May 2019other● NeutralMajor
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30 Apr 2019resource reserve update▲ GoodMajor
Siviour resource upgraded to 87.4Mt at 7.5% TGC (6.6Mt contained graphite), including a first Measured resource of 15.8Mt at 8.8% TGC. 64% is now Measured or Indicated. This follows the late-2018 infill drilling; DFS results are expected near end of June quarter.
11 Apr 2019admin correction● Neutral
Additional disclosure for the 9 April presentation, adding JORC references, a resource and reserve table and data sources. No new information; the company says nothing in the original was materially misstated.
10 Apr 2019debt financing▲ GoodMajor
Dutch export credit agency Atradius issued a non-binding Letter of Interest for cover on up to about 60% of Siviour's initial capex. This is a first step: further due diligence and committee approval are needed, and no loan is committed.
9 Apr 2019investor presentation● Neutral
Adelaide conference presentation repeating known Siviour figures and noting the Mineral Lease grant. Shows 1,153m shares, $5.2m cash at 31 December, no debt and a $20.8m market cap at $0.018. No new results.
8 Apr 2019regulatory community update▲ GoodMajor
South Australia's minister granted the Siviour Mineral Lease, resolving the application lodged in August 2018. A mining program (PEPR) must still be approved before mining, and is to be submitted later this year. DFS is due towards end of June quarter.
