Past year: ▲ 511900%(0.09c – 4.61 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
19 Aug 2015debt financing▼ BadMajor
After over three years seeking US$400m, the financier club wants a contract mining model tested to cut costs and capital after a weaker API4 coal price forecast. Quotes will take months. Funding delayed; the June hope of an in-principle deal has faded. Other sources are being explored.
22 June 2015debt financing● Neutral
Same-day funding update repeating the 22 June 2015 message: club talks continue on a protracted term sheet, no equity raise is envisaged if the facility proceeds, and alternatives are explored. Largely a re-release with a footnote added; no new information.
22 June 2015debt financing▼ Bad
Funding update: talks with the financier club are still continuing on an extensive term sheet and bank model, delayed by the variable loan structure and market conditions. No equity raising is envisaged if the facility proceeds. Alternative funding is being explored. No agreement yet.
15 May 2015other● Neutral
Share registry Boardroom is moving to a new Sydney address from 18 May 2015. Administrative; no effect on the company's business.
26 Feb 2015debt financing▲ GoodMajor
Names a financier club: RMB, HSBC, IDC, PIC, Noble and EFIC. Talks are at a mature stage with a term sheet being finalised; Noble loans would fold into it. If it proceeds, no equity raising is envisaged. Not yet a binding commitment.
26 Feb 2015price query● Neutral
Replies to an ASX query after the price fell from 9.4c to 7c on higher volume. The company knows of no unannounced information, citing steady low-volume selling while holders await financing outcome, and points to the same-day funding update.
29 Oct 2014investor presentation● Neutral
Notice of a BRR Media webcast of the managing director's AGM presentation. Administrative; no new information.
29 Oct 2014investor presentation● Neutral
AGM presentation giving project overview, offtake contracts, infrastructure arrangements and a roadmap to first production. Largely repeats known facts; no new funding news in the text shown.
17 Sept 2014annual report● Neutral
Notice that the 2014 annual report, already lodged, is also available online. Administrative; no new information.
15 Sept 2014annual report● Neutral
2014 annual report: first production now scheduled for mid-2016, after the earthworks contractor's liquidation moved it from December 2015. Camp, roads, rail earthworks and bridge foundations are in place. Largely repeats known facts; the full financial figures are not shown in the text provided.
20 Aug 2014debt financing▲ GoodMajor
Signs a loan facility of up to US$113m with Komatsu Financial for the mining fleet, over five years. It is conditional on signing the equipment sale and securing the balance of project debt. Resolves the equipment funding thread, but the main project debt remains open.
2 July 2014contract award▼ BadMajor
Earthworks contractor Protech Kuthele, which was building the rail link, site infrastructure and roads, has applied for liquidation and left site. Completion slips three to six months, with first coal now in the first half of 2016 rather than December 2015. Funding talks continue.
24 June 2014price query● Neutral
Replies to an ASX query after the shares rose from 11c to 16.5c. The company knows of no unannounced information and attributes it to earlier steady low-volume selling that appears to have eased. Confirms it complies with disclosure rules.
26 Feb 2014capital raising announcement▼ BadMajor
Blumont will not pay the outstanding $20.07m for its 102.6m-share placement at 22c. No shares are issued and the company keeps the $2.5m deposit. Resolves the Blumont thread, which had been expected to bring in $20-25m.
31 Jan 2014regulatory community update● Neutral
Supplement to the quarterly report: confirms the 744.8Mt reserve was reported under the 2004 JORC Code and not updated, and lists tenements held at 74%. Compliance clarification only.
2 Jan 2014capital raising announcement● Neutral
Blumont has paid the $2.5m deposit. The balance with interest is still due on 26 February 2014; if unpaid, the deposit is forfeited and no shares issue.
2 Jan 2014debt financing▲ GoodMajor
Signs a binding term sheet for a US$65m Noble infrastructure loan, drawable 1 Jan 2014 to 31 Dec 2015 and repayable by 31 March 2016. It replaces the US$67.7m facility, which expired undrawn. Management says it removes the remaining major funding gap.
18 Dec 2013capital raising announcement● Neutral
Agrees a revised deal with Blumont: $2.5m deposit by 31 December and the balance with interest on 26 February 2014. If Blumont fails to settle, the deposit is forfeited and no shares are issued. Partly eases the missed 4 December payment.
10 Dec 2013admin correction● Neutral
Corrects South African media reports that tied the Blumont placement to the entitlement offer. The $62.6m offer was fully received; the $22.57m Blumont placement is separate and still unpaid.
5 Dec 2013capital raising announcement▼ BadMajor
Blumont has not paid the $22.57m due on 4 December for its 102.6m-share placement at 22c, which shareholders approved at the AGM. The company is taking action to obtain the funds. Casts doubt on the Blumont money flagged in September.
29 Nov 2013investor presentation● Neutral
Notice of a BRR Media webcast of the managing director's AGM presentation. Administrative; no new information.
29 Nov 2013investor presentation● Neutral
AGM presentation on capex and funding: yet-to-fund maximum of $257m, falling to about $178m after cash. Roughly 50% of the plant cost may be covered by an export credit guarantee. Production is targeted for Q4 2015. Largely repeats known facts.
13 Nov 2013contract award▲ GoodMajor
Signs a binding term sheet with FLSmidth Roymec to design and supply the coal handling plant. Expected cost is now under US$200m, over US$50m less than earlier estimates. Danish agency EKF is in talks to guarantee over half the cost.
23 Oct 2013investor presentation● Neutral
Notice of a BRR Media webcast by the managing director on the entitlement offer update. Administrative; no new information.
23 Oct 2013investor presentation● Neutral
Managing director says the shortfall placement brought in PIC and Altius as South African backers. 11 banks are in due diligence, with final term sheets hoped for within two months. First coal is targeted for the end of Q3 2015. Largely repeats known facts.
22 Oct 2013other● Neutral
Top 20 holders list after the shortfall placement: Nedcor nominees (PIC) 19.90%, Barsington 17.97%, Shinto Torii 10.91%. Total shares on issue are 569,396,004. Administrative; no new information beyond the placement.
22 Oct 2013capital raising announcement▲ GoodMajor
The shortfall from the entitlement offer is fully placed: 237.2m shares at 22c, raising $52.2m and completing the $62.6m offer. Buyers include PIC (19.90%), Barsington/Noble (17.97%) and Shinto Torii/Altius (10.91%). Resolves the weak retail take-up; funds go to major construction.
19 Sept 2013annual report● Neutral
2013 annual report restates the Boikarabelo story: 744.8Mt probable reserve, 6.4bn t resource, construction under way since February, production targeted late 2015. Notes the March bank offers were rejected, 11 banks are still negotiating, and $185m has been raised since the start of 2013.
17 Sept 2013capital raising announcement▲ GoodMajor
Blumont Group subscribes for 15% of the enlarged capital at 22c, an investment of $20-25m. Shortfall shares are taken first, with the balance issued after the AGM subject to shareholder approval. Management says this minimises further equity needs.
27 Aug 2013asset acquisition disposition▲ GoodMajor
Lifts its stake in Waterberg One Coal from 70% to 74%, buying out Lukale for ZAR25m in shares at 40c (subject to shareholder approval) plus ZAR20m cash. Fairy Wing takes 26% using a ZAR39m RES loan. Prospecting area has a 314.2Mt probable reserve.
