Past year: ▼ 21%(6.30c – 9.98c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Dec 2011drilling result▲ GoodMajor
Drilling at White Mountain (EPC1260) hit an interpreted 13.4m of net Betts Creek coal in three seams at 242–281m. A maiden JORC resource for EPC1260 is planned for Q1 2012; Mongolian mining licence is awaited, with first coal still targeted mid-2012.
7 Dec 2011resource reserve update▲ GoodMajor
Maiden JORC resource for Middle Gobi (EL12929X) of 221Mt thermal coal (32Mt Indicated, 189Mt Inferred), taking Mongolian resources to 284Mt and the group total to 1.32Bt. Drilling resumes March 2012; mining licences still expected before end-2011.
15 Nov 2011resource reserve update▲ GoodMajor
Maiden JORC resource for South Gobi (EL13780X) of 63.1Mt of coal with coking potential (38.2Mt Indicated, 24.9Mt Inferred), delivering on the October target. Mining licence applications are lodged, with mining targeted to start by end of June quarter 2012.
8 Nov 2011resource reserve update▲ GoodMajor
Hughenden JORC Inferred Resource raised by 110Mt to 1.036Bt of thermal coal on EPC1477/EPC1478, up from the 925.8Mt maiden figure of 25 October. Further coal quality work is needed; transport contracts with ARG and Port of Townsville are still targeted by end-2011.
25 Oct 2011resource reserve update▲ GoodMajor
Maiden JORC Inferred Resource of 925.8Mt of thermal coal at Hughenden (EPC1477, 350–595m depth). This turns part of the 0.58–5.72Bt Exploration Target into a formal resource, from under 1% of the project area. Shallower coal was also hit on EPC1478 and White Mountain.
30 Sept 2011resource reserve update▲ GoodMajor
Mongolian Exploration Targets were raised again: South Gobi 0–700Mt and Middle Gobi 30–680Mt, lifting the total to 30Mt–1.38Bt from 29–731Mt. Maiden JORC resources are targeted for October 2011, and the South Gobi coal may be low-sulphur coking coal. Still not resources.
30 Aug 2011resource reserve update▲ GoodMajor
Hughenden Exploration Target set at 0.58–5.72 billion tonnes, resolving the pending target. It is not a JORC resource, though the company says an underground inferred resource on EPC1477 could follow. Includes an Asian roadshow presentation.
23 Aug 2011drilling scheduled▲ GoodMajor
Sierra tenement EPC1822 in the Bowen Basin has been granted, resolving the earlier wait for grant. Drilling is scheduled to start early in the last quarter of 2011, taking Guildford to six rigs on its Queensland priority projects. Guildford owns Sierra 100%.
4 July 2011drilling result▲ GoodMajor
South Gobi drilling on EL5264X hit about 21m apparent net coal, including a 13.7m seam with possible coking potential. A new Middle Gobi Exploration Target of 29–149Mt lifts the Mongolian total to 29–609Mt. Hughenden drilling is slower, and its target is still pending.
16 May 2011drilling result▲ GoodMajor
Hughenden hole H005c hit 11.9 metres net coal in Permian Betts Creek seams up to 5.5m, 70% thicker than expected; the Exploration Target is due within 30 days. South Gobi's first four holes hit 4–8m net coal; mining licence application targeted by July.
2 May 2011drilling result▲ GoodMajor
First hole in the South Gobi project in Mongolia hit about 8 metres net coal in three seams, the deepest at 87 metres. A mining licence application is expected in the third quarter 2011. Early result on the newly acquired Terra Energy assets.
20 Apr 2011farm in farm out completion● Neutral
Tiaro Coal confirms completion of the EPC1260 sale to Guildford for $3.3 million, finalising the 12 April heads of agreement. Duplicates Guildford's own completion announcement.
20 Apr 2011farm in farm out completion▲ Good
Guildford completed the 51% acquisition of EPC1260 from Tiaro for $3.3 million upfront plus the $5 million commitment. This finalises the 12 April heads of agreement and enlarges the White Mountain Project, with a combined Exploration Target of 40–815 million tonnes.
11 Apr 2011drilling progress report● Neutral
Two rigs are drilling at Hughenden after Cyclone Yasi delays, and a third is secured for the overlying Blantyre coal, which shows some coking properties. The Exploration Target is still pending. Kolan drilling restarts late April; Sierra awaits grant. Morgan Stanley engaged as adviser.
5 Apr 2011farm in farm out agreement▲ GoodMajor
Och-Ziff funds, the 12.6% shareholder that introduced the project, get a call option over 25% of Terra Energy for A$25 million, exercisable only if Guildford lifts to 70%. Both exercising would leave Guildford with 52.5% and board control, potentially funding Mongolia.
26 July 2010drilling result▲ GoodMajor
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.
22 July 2010resource reserve update▼ BadMajor
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.
