Past year: ▲ 511900%(0.09c – 4.61 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
10 Oct 2008asset acquisition disposition▲ GoodMajor
Settled purchase of the Tasmanian coal companies after licences were granted: 28.5m shares for Energy Investments (plus 7.5m to facilitators) and 60m for Tiger Coal, all escrowed 6 months. A further 15m shares are payable if 79Mt is proven. Resolves the licence thread.
2 Oct 2008annual report● Neutral
2008 annual report: chairman cites over $12m in the bank, the new name, Waterberg drilling begun, and Tasmanian historical coal of 72-102Mt (pre-JORC). Repeats the 738.8Mt Waterberg inferred resource and 20%-to-70% earn-in. No new results.
1 Oct 2008director officer appointment● Neutral
Mark Clements resigned as Joint Company Secretary effective 30 September 2008. Steve Matthews continues as sole Company Secretary. Administrative change.
25 Sept 2008regulatory community update▼ BadMajor
Supplementary prospectus, at ASIC's request: Tasmanian tenement ownership still depends on licences being granted. Tasmanian coal figures are historical, not JORC. The board now says the earlier 340-460Mt exploration target needs more information, softening it.
25 Sept 2008other● Neutral
Share registry moves from Security Transfer Registrars to Registries Limited, effective 6 October 2008. Administrative notice only.
25 Sept 2008annual report● Neutral
Full-year accounts to 30 June 2008 confirm the $10.99m loss and the company's coal pivot. The satellite communications business closed 31 August 2008; 20m shares were issued 11 July for Waterberg services. AGM is set for 6 November 2008.
12 Sept 2008other● Neutral
Prospectus for a nominal 10,000 shares at 22c, as Resource Generation Limited (formerly Comdek). Per the supplementary prospectus, its main purpose was to help ASX reclassify the company from technology hardware to metals and mining.
5 Sept 2008investor presentation● Neutral
EGM presentation under the new Resource Generation name, repeating the 738.8Mt Waterberg inferred resource and coal strategy. The name change was approved at this meeting. No new results.
2 Sept 2008regulatory community update● Neutral
ASX waived the rule so the 28.5m Energy Investments shares can be issued up to 31 October 2008. Tasmanian licences are still not granted, so both deals remain conditional. The Tiger Coal option was extended to 7 September 2008.
28 Aug 2008annual report▼ BadMajor
Preliminary results for year to 30 June 2008: loss $10.99m versus $1.125m, including a $7.57m write-down of the Uranex (Cameroon uranium) investment. Cash $1.4m. Accounts still being audited.
25 Aug 2008other● Neutral
Top-20 holder list and distribution schedule after the 51.2m-share placement issue. Lukale Mining holds 7.78% and Newquest 6.06%; 618.3m shares on register. Administrative disclosure only.
15 Aug 2008capital raising announcement▲ GoodMajor
Raised $12 million via a placement of 66,666,667 shares at 18c. Funds exploration of coal and uranium tenements, first the Waterberg, where US$5m spend lifts the joint venture interest from 20% to 70%. 15.4m shares need AGM approval.
14 Aug 2008investor presentation● Neutral
August 2008 presentation backing a proposed capital raising. Repeats the 738.8Mt Waterberg inferred resource, the 20%-to-70% earn-in route, 98-hole drilling due September 2008, and Tasmanian historical 80Mt. Mostly known facts.
31 July 2008quarterly activities report● Neutral
Quarter to 30 June 2008: operating cash outflow $342k, acquisition payments $48k; cash fell from $1.784m to $1.401m. No borrowings. The text provided contains no activities commentary.
24 July 2008resource reserve update▲ GoodMajor
Inferred coal resource in the Waterberg, South Africa, lifted 78% from 415Mt to 738.8Mt, mainly from 12 more boreholes at Koert Louw Zyn Pan (now 646.3Mt). Delivers the upgrade flagged earlier; a 98-hole drilling program is being finalised.
22 July 2008other● Neutral
Notice that escrow over 20 million shares issued for the Uranex SA acquisition (settled 29 January 2008) expires 29 July 2008, lifting transfer restrictions. Shares become freely tradable.
15 July 2008director officer appointment● NeutralMajor
Paul Jury became Managing Director and Steve Matthews Executive Director and Joint Company Secretary, as flagged in June. Peter Pawlowitsch resigned as director. Both new directors hold no securities, per their initial interest notices.
8 July 2008asset acquisition disposition▲ GoodMajor
Acquisition of 100% of Isicebi settled, with the Lukale joint venture signed. On 7 July 2008 Comdek issued 85.6m shares and 28.75m options as consideration; about 545.6m quoted shares now on issue. Closes the open Isicebi thread.
4 July 2008listing compliance notice● Neutral
ASX granted a waiver letting Comdek issue the Isicebi consideration shares (37.5m shares, 18.75m options, plus 48.1m shares to Lukale) after the usual three-month window, provided issued by 11 July 2008.
17 June 2008director officer appointment▲ GoodMajor
Paul Jury (former founder and managing director of Resource Pacific Holdings, taken over by Xstrata) named Managing Director and Steve Matthews Executive Director, starting 14 July 2008. Salaries $400k and $300k, plus options at 20c-35c needing shareholder approval.
16 June 2008asset acquisition disposition▲ GoodMajor
South African Reserve Bank approved the Isicebi acquisition, the last remaining condition, subject to conditions built into an amended joint venture agreement. Settlement is expected within a week, resolving the long-running approval delay.
27 May 2008asset acquisition disposition▲ GoodMajor
Option signed to buy Tiger Coal, which has applied for two Tasmanian Jericho coal projects, for 75 million shares valued at 20c each. Historical coal 60-80Mt; exploration target 240-300Mt, conceptual only. Shareholders approved the earlier EIL deal on 26 May 2008.
23 May 2008other● Neutral
Notice that a broker research report on Comdek is available on the company website. No new company information in the announcement itself.
5 May 2008investor presentation● Neutral
BBY Mining Conference presentation repeating known facts: 415Mt South African inferred resource, Tasmanian 160Mt target, Cameroon uranium, 14c share price and $1.8m cash.
30 Apr 2008quarterly activities report● Neutral
Quarter to 31 March 2008: operating cash outflow of $254k; cash $1.784m. The 80% purchase of Uranex SA (Cameroon uranium) settled on 29 January 2008 with 40 million shares, resolving that open thread. Isicebi still awaits Reserve Bank approval.
8 Apr 2008material agreement▲ Good
Comdek was granted an Eskom Generation Division vendor number, allowing it to supply coal to Eskom's new power stations. The company calls this a significant early step; the Isicebi deal still awaits Reserve Bank approval.
17 Mar 2008investor presentation● Neutral
March 2008 presentation repeating known facts: 415Mt inferred coal resource in South Africa, 14c share price, 649.6m shares on issue after the Isicebi and EIL deals, and cash of $1.8m. Shows a coal-focused structure that still includes the Cameroon uranium holdings.
11 Mar 2008admin correction● Neutral
Administrative notice: registered office moved to 510A Hay Street, Subiaco, Western Australia.
10 Mar 2008asset acquisition disposition● Neutral
Another 22 historical drill holes acquired for the Waterberg coal properties (26 in total); the company believes they will upgrade the resource. Reserve Bank approval delayed, with a 120-day extension; decision expected by end of April. Tasmanian due diligence completed.
27 Feb 2008half year report▼ Bad
Half year to 31 Dec 2007: net loss of $1.080m (up 10.5%) on revenue of $162k (down 12.4%). Net tangible assets 0.95 cents per share. No dividend.
