The story before 31 Mar 2011
The events that changed the company's story, in plain English, each written against everything known about the company at the time. The dot shows whether it was good, bad or neutral for shareholders.
2010
- 8 Nov
Guildford placed 52.1 million shares at $0.48 to Och-Ziff funds, raising $25 million (12.6% of capital, 6% below the 30-day average price). Cash rises to about $51 million, to accelerate drilling, fund rail and port talks and possible growth opportunities.
capital raising announcement
- 28 Sept
The Takeovers Panel declined to conduct proceedings on Lenark's application against majority holder TheChairmen1 (about 56% of Guildford), finding no reasonable prospect of a declaration of unacceptable circumstances. This ends the 23 September interim orders and resolves the dispute.
regulatory community update
- 17 Sept
The Takeovers Panel received an application from Lenark about majority shareholder TheChairmen1 (55% of Guildford) and its planned placement and rights issue. Lenark alleges undisclosed associations. No decision yet on whether the Panel will act.
regulatory community update
- 26 July
First three Hughenden holes in the Galilee Basin all intersected coal, about 300 metres deep, roughly 100 metres shallower than expected. A second rig is planned for September, targeting a JORC Inferred Resource before end-2010.
drilling result
- 22 July
Guildford terminated its 26 May 2010 agreement to acquire the Springsure Project licence EPC1674 after the vendor, Springsure Mining, said on 9 July it could not complete.
material agreement termination
- 22 July
Prospectus resource claims are clarified: Guildford has no JORC-compliant resources. Earlier figures of 120 million tonnes (Comet) and 84 million tonnes (Springsure) are retracted and restated as exploration targets of 0 to 120Mt and 0 to 84Mt.
resource reserve update
- 21 July
Guildford Coal's replacement prospectus offers 10 million shares at $0.20 to raise $2 million ahead of an ASX listing, with coal exploration tenements in Queensland. The prospectus warns the investment is speculative.
capital raising announcement