Past year: ▼ 21%(6.30c – 9.98c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Apr 2012asset acquisition disposition● Neutral
Humanis Group, the seller, confirms completing the sale of its 50.52% of Springsure to Guildford, on the same terms (A$0.4m cash, contingent payments up to $20m). Seller's side of the Springsure deal; adds no new terms for Guildford shareholders.
2 Apr 2012asset acquisition disposition▲ GoodMajor
Guildford agrees to buy 50.52% of Springsure Pty Ltd, holder of Bowen Basin coal permit EPC1674 (Exploration Target 60–235Mt). Price is a $0.4m cash commitment plus contingent payments up to $20m tied to Indicated Resource tranches, payable in cash or shares. Adds a new Queensland project.
30 Mar 2012drilling result▲ GoodMajor
Fluorite mineralisation of potentially ceramic grade was found outcropping on a Mid Gobi licence (EL12929X), after illegal miners were removed. A magnetic feature about 3km by 1km overlies it. Initial drilling is planned for April. Early-stage, non-coal and unquantified.
29 Mar 2012drilling result● Neutral
Kolan now has an Exploration Target of 60–400Mt of coking coal potential. Drilling so far found only thin seams (46–143m deep), and further drilling is needed to see whether thicker seams exist. Drilling has stopped for the wet season. Issued shares now 475.3m.
20 Mar 2012capital raising announcement● NeutralMajor
Raised $25m through an institutional placement of about 35.7m shares at $0.70, a 1.4% discount to the last close. Funds go to resource work, a second South Gobi mining licence, Queensland pre-feasibility studies, non-coal minerals in Mongolia and possible acquisitions. Foster Stockbroking led the placement.
What it means for a shareholder
35.7m new shares at A$0.700 to raise about A$25.0m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (1,429 at the issue price), your slice goes from 0.00062% to 0.000537% of the company. To keep it you'd need 221 more shares - about A$155 at the issue price.
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15 Mar 2012resource reserve update● Neutral
Tiaro Coal re-releases Guildford's 15 March White Mountain 262Mt resource update, which adds technical detail on the project. Tiaro holds 36% of the joint venture. No new information.
15 Mar 2012resource reserve update● Neutral
Update to the White Mountain 262Mt maiden resource with more detail: depths from 25m and average 9.75m net coal across four seams. The resource is expected to suit open cut mining. Initial quality estimates are 15% ash, 5,800 kcal/kg and 0.5% sulphur. Total unchanged.
5 Mar 2012resource reserve update▲ GoodMajor
Maiden White Mountain Inferred resource of 262Mt thermal coal, and Hughenden Inferred resource raised 56% to 1.619Bt. Total company resource rises to 2.172Bt from 1.32Bt. Pre-feasibility study commissioned, with a mining lease application planned mid-2012.
5 Mar 2012resource reserve update▲ Good
Tiaro Coal, holder of 36% of White Mountain Pty Ltd, repeats Guildford's 262Mt maiden resource announcement for the joint venture. It is a partner re-release of the same news, adding no new figures.
22 Feb 2012half year report▼ Bad
Half-year accounts to 31 December 2011 show a consolidated loss of $17,830,823 (prior year: $1,716,775). Otherwise restates known events, including the FTB buy-out, Hughenden resource upgrade and White Mountain coal hit. No new operational news in the visible text.
30 Jan 2012resource reserve update▲ GoodMajor
Guildford's Mongolian subsidiary was granted its first mining licence (30-year initial term) for South Gobi, and the resource was upgraded to 70.4Mt of coking coal from 63.1Mt. Scoping studies for 2Mtpa and 4Mtpa cases were due in early February, with mining still targeted for mid-2012.
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.
22 Dec 2011admin correction● Neutral
ASX-requested clarification of the morning's announcement: breaks the 1.32Bt resource into Indicated and Inferred, coking and thermal, and corrects wording of the White Mountain Exploration Target (40–815Mt). No new results.
9 Dec 2011material agreement● Neutral
Guildford signed a 2012 season sponsorship with the North Queensland Toyota Cowboys rugby league club, with two one-year options. Dollar value is not stated. Raises its profile in the Hughenden and Sierra project regions.
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.
11 Nov 2011capital raising announcement▲ GoodMajor
Raising $10m via a placement of about 10.9m shares at $0.92 to existing holder Regal Funds Management, issued 1 December 2011. Funds go to resource work, the South Gobi mining licence and Hughenden feasibility, addressing the cash decline from A$15m at 30 September.
What it means for a shareholder
10.9m new shares at A$0.920 to raise about A$10.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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8 Nov 2011investor presentation● Neutral
Investor presentation restating known facts: 1.036Bt Hughenden resource, 0.65–7.915Bt Exploration Targets, cash A$15m at 30 September, and a $0.985 share price (market cap A$413.4m). Targets South Gobi first coal mid-2012 and Sierra drilling in November.
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.
28 Oct 2011investor presentation● Neutral
AGM presentation repeating known facts: the 925.8Mt Hughenden resource, FTB buy-out and 70% Terra stake. Shows cash of A$15m at 30 September 2011 (down from A$35m at 31 May), 419.7m shares and a $1.005 price, or A$440.7m market value.
28 Oct 2011other● Neutral
Results of the 28 October 2011 AGM: all resolutions put to the meeting were carried. Voting table attached but not readable in the text provided.
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.
12 Oct 2011price query● Neutral
Guildford responded to an Australian Financial Review article, saying any resource numbers in it are speculative because analysis is incomplete. It reaffirmed maiden JORC resources for Hughenden, South Gobi and Middle Gobi in October, and that no binding rail or port agreements exist beyond the MOUs.
4 Oct 2011asset acquisition disposition● Neutral
Guildford is moving its 100%-owned EPC1250 into White Mountain Pty Ltd for an extra 5%, lifting its stake from 51% to 56%. The company then holds adjoining EPC1250 and EPC1260, with a combined Exploration Target of 40–815Mt.
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.
27 Sept 2011annual report● Neutral
2011 annual report, Guildford's first since its July 2010 listing at $0.20. Chairman notes shares ended the year at $1.12 and a maiden Hughenden JORC is targeted before end-2011. Sierra and Kolan tenements are granted, and Mongolia drilling exceeds 12,000m.
15 Sept 2011asset acquisition disposition● Neutral
Carpentaria's side of the FTB sale: it receives $1.5m cash, $2.5m of Guildford shares and the royalty (potential value up to $100m). Confirms the terms in Guildford's own announcement; nothing new for Guildford holders.
15 Sept 2011asset acquisition disposition▲ GoodMajor
Guildford bought Carpentaria's 20% of FTB, taking it to 100% of the company holding about 60% of Hughenden by area. Cost is $1.5m cash plus $2.5m of Guildford shares, and Carpentaria keeps a 50c/t royalty capped at 10Mtpa for 20 years.
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.
24 Aug 2011admin correction● Neutral
Re-lodgement of the 23 August Sierra grant announcement with an added competent person statement. No new information.
