Past year: ▲ 511900%(0.09c – 4.61 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
7 Feb 2011investor presentation● Neutral
February investor presentation repeating known Boikarabelo facts: 745Mt probable reserve, A$552m phase 1 capex, two offtake contracts. Mining right still targeted for the June quarter 2011, with water and rail approvals each expected in about six months.
31 Jan 2011regulatory community update▲ Good
Boikarabelo rail link route confirmed at 36km, shorter than the 45km first expected. Three farms are being bought for ZAR67.5m (about A$10m), with ZAR21.1m paid. Servitude agreements are made; approvals for the full route are expected in about six months.
25 Jan 2011quarterly activities report▲ Good
December quarter report restating the 744.8Mt probable reserve upgrade, second Bhushan offtake, Ledjadja rise to 74% and the $30.6m raising. Rail land: two properties bought, two contracted. Mining right now hoped for by mid-2011. Banks are starting due diligence. La Trobe tenement to be relinquished.
22 Dec 2010other● Neutral
Company policy on directors and employees buying and selling its shares, explaining insider trading rules. Administrative document with no new information about the business.
16 Dec 2010resource reserve update▲ GoodMajor
Boikarabelo probable reserve rises 108.8Mt to 744.8Mt after the expanded mine plan, covering 35% of the tenement area. This follows the 20 October measured resource and the 636Mt figure, and helps support project finance.
16 Dec 2010other● Neutral
Top 20 shareholder list. Integrated Coal Mining remains the largest holder at 18.27m shares (7.49%), with total issued capital shown as 243.9m shares. Administrative.
15 Dec 2010material agreement▲ GoodMajor
Second 20-year offtake: Bhushan Steel will buy 500,000 tonnes a year for the first five years of production, then at least 500,000 tonnes a year for 15 years, at market prices. Adds to the Integrated Coal Mining (CESC) contract.
14 Dec 2010other● Neutral
Notice of an audio broadcast of the Managing Director's general meeting presentation. No new information.
13 Dec 2010investor presentation● Neutral
General meeting presentation repeating known Boikarabelo progress. Mining right approval is still targeted for the June quarter 2011. Notes issued capital and cash are higher following the placement.
24 Nov 2010asset acquisition disposition▲ GoodMajor
Resource Generation lifted its Ledjadja Coal stake from 49% to 74% under the shareholders' agreement. Ledjadja holds the major share of Boikarabelo's resources and reserves. Completes the step approved in June, when the interest rose to 65%.
16 Nov 2010other● Neutral
Top 20 shareholder list. Integrated Coal Mining holds 8.7% (18.27m shares) following its subscription. Total issued capital shown is 210.1m shares. Administrative.
10 Nov 2010capital raising announcement● Neutral
Invitation to eligible Australian and New Zealand shareholders to buy A$2,000 to A$15,000 of shares at 50c, the placement price. Offer closes 3 December 2010.
10 Nov 2010other● Neutral
Terms and conditions of the share purchase plan: eligibility, A$15,000 cap, 50c price, non-renounceable. Administrative detail of the offer already announced.
5 Nov 2010capital raising announcement▲ GoodMajor
Placement completed at A$30m: 60m shares at 50c, oversubscribed. 27.4m shares issue on 10 November; 32.6m need shareholder approval at a meeting around 13 December. Issued shares would total 242.7m.
4 Nov 2010investor presentation● Neutral
Presentation accompanying the placement. Repeats known Boikarabelo progress and adds rail land status: one property bought, three more negotiated, two under negotiation. Start-up capex of A$552m for the first three years is restated.
4 Nov 2010capital raising announcement● NeutralMajor
Placement to raise up to A$20m at 50c a share, with up to A$10m more possible, plus a share purchase plan at the same price. Proceeds go mainly to Boikarabelo rail link land and access rights. The rail link is needed for environmental approval.
28 Oct 2010other● Neutral
Notice of an audio broadcast of the Managing Director's AGM presentation on Boardroom Radio. No new information.
27 Oct 2010investor presentation● Neutral
AGM presentation repeats known progress. Mining right approval is now targeted for the June quarter 2011, later than the early 2011 aim previously stated. Environmental assessment and public consultation finished in September; rail link access is being negotiated.
27 Oct 2010director officer appointment● NeutralMajor
Brian Warner, who recently retired as senior resources analyst at Citibank, becomes Non-Executive Director and Chairman. Scott Douglas steps down as Chairman but stays on as a Non-Executive Director.
26 Oct 2010investor presentation● Neutral
Citi conference presentation: 182.7m shares, A$120m market cap, A$13m cash, no debt, 636Mt probable reserve. Otherwise repeats known progress, including the CESC offtake and the JSE listing. Cash is up from A$6m in July, consistent with the ICM subscription.
22 Oct 2010admin correction● Neutral
Clarifies that the 6.4 billion tonne gross resource, or 3.1 billion tonnes excluding shale, in the 20 October release is entirely inferred. No new data.
20 Oct 2010resource reserve update▲ GoodMajor
Boikarabelo probable reserve rises 32.7Mt to 636.0Mt after analysis of 28 cored holes, with a new 204.0Mt measured resource at Kalkpan. Mine planning to convert the measured resource to reserve is due by end November 2010.
24 Sept 2010annual report● Neutral
2010 annual report: recaps the Boikarabelo progress, 603Mt probable reserve, pre-feasibility study and mining rights application, with production on schedule for 2013. AGM set for 27 October 2010. Mostly known facts.
14 Sept 2010material agreement▲ GoodMajor
First coal offtake: Integrated Coal Mining (RPG Group, for CESC) will buy 1Mt a year for three years then 2Mt a year for 17 years from Boikarabelo. It subscribes $10.5m for 18.27m shares at $0.575, about 10%.
19 Aug 2010annual report● Neutral
Preliminary results for year to June 2010: loss of $3.3m versus $15.2m, on revenue of $982k. Net tangible assets 54 cents per share, down from 80 cents. No dividend.
27 July 2010admin correction● Neutral
Clarifies that the 75.5 billion tonne Waterberg coalfield, 2.0 billion tonne Waterberg No.1 and 4.0 billion tonne Ledjadja resource figures in the morning's presentation are all inferred.
27 July 2010investor presentation● Neutral
July 2010 update presentation: 164.4m shares, A$88m market cap, A$6m cash, no debt. Cash has fallen from A$17m in February, which is relevant to funding. Otherwise repeats known progress.
26 July 2010quarterly activities report● Neutral
Quarter to June 2010: JSE listing, public consultation on the mining rights application, Ledjadja approval, and talks with Transnet and potential customers. Woodbury drilling is 12 of 24 holes done. Reserve of 603.3Mt may rise.
8 July 2010other● Neutral
Notice that the full JSE pre-listing statement is on the company website. No new substance.
8 July 2010other▲ GoodMajor
Final JSE approval for a secondary listing, with trading starting 14 July 2010 for 164,412,477 shares. Delivers the plan announced in March to widen funding options for Boikarabelo and attract South African investors.
