Past year: ▲ 511900%(0.09c – 4.61 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Sept 2015debt financing▲ GoodMajor
Received a signed MoU from Swiss private entity HAB & JPR Privée for EUR480m in two stages (EUR175m by 31 January 2016, EUR305m June 2016), 20 years at about 4.5%. The lender may cancel if directors change. Not yet binding: the stage 1 agreement is unsigned.
29 Sept 2015director officer appointment▼ BadMajor
Shinto Torii (Altius subsidiary, 10.7% holder) requisitioned a meeting to remove all four directors and install six nominees. The AGM will be deferred so both meetings are held together. Escalates the Noble and Altius dispute into a fight for board control.
25 Sept 2015annual report● Neutral
2015 annual report restates the 744.8Mt probable reserve, 6Mtpa Stage 1 target, offtake contracts and infrastructure progress, and awaits remaining funding. AGM is set for 4 November 2015. Largely repeats known facts; financial figures are not shown in the text provided.
25 Sept 2015other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, pointing to pages 13-17. Administrative; no new business information.
18 Sept 2015other▼ BadMajor
Noble Group asked for two extra RES directors and one on the Ledjadja board, citing doubts over EFIC and EKF support. The board refused, saying the club's terms, including Noble's, seek excessive returns. Opens a board-control dispute with the largest funding partner.
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.
14 July 2015quarterly activities report▼ Bad
June quarter report: cash fell to $28.6m from $34.2m in March. Club talks remain protracted; alternative debt is being explored. Only power and a 13km pipeline section progressed, with the substation due October 2015. Relinquishing the minor PR720/2007 licence.
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.
23 Apr 2015quarterly activities report▼ Bad
March quarter report: cash was $34.2m, down from $54.3m in June 2014. Financier club talks continue on a term sheet; major construction awaits funding. Only bridges, power, the rail stabilisation siding and a pipeline section progressed. Reserve footnote now cites JORC 2012.
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.
21 Jan 2015quarterly activities report▼ Bad
December quarter report: first three rail bridges finished, power line work begun, offices and water supply completed. After January, only power and a pipeline section continue; other work deferred until about US$400m of debt funding is finalised. Talks remain protracted.
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.
29 Oct 2014quarterly activities report● Neutral
September quarter report: earthworks for rail link and roads stay suspended after the contractor's liquidation. FLSmidth CHPP contract signed, conditional on debt funding. US$400m project debt still being negotiated with banks and others. Komatsu fleet loan restated.
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.
29 July 2014quarterly activities report▼ Bad
June quarter report: cash was $54.3m, down from $67.0m. Earthworks stopped after contractor liquidation; first coal now expected first half 2016. Rail and port take-or-pay commitments deferred to then. Mobile equipment funding of about $100m progressing; bank project finance talks still protracted.
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.
3 Apr 2014quarterly activities report● Neutral
March quarter report: cash was $67.0m. US$20m has been drawn from the Noble rail loan, and project finance talks are in final stages. EKF is doing due diligence on the guarantee. Production is still due December 2015, subject to funding.
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.
29 Jan 2014quarterly activities report● Neutral
December quarter report: cash was $49.7m and the $20m Noble debenture was repaid. Noble US$65m and US$55.3m loans are in place, and bank negotiations and equipment funding continue. Coal is now expected in December 2015, subject to funding.
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.
