Past year: ▼ 21%(6.30c – 9.98c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
1 May 2012director officer appointment● Neutral
Louis Chait, formerly of Xstrata Coal, will become CFO and company secretary from 1 June 2012, replacing Norah St George, who is leaving due to family health issues. Timed ahead of planned South Gobi production.
30 Apr 2012asset acquisition disposition▲ GoodMajor
Guildford buys the remaining 20% of Orion Mining (Pentland Project, Galilee Basin) for $1m cash plus $1m of shares at $0.665, taking it to 100%. Pentland has an Exploration Target of 295Mt–2.89Bt; drilling is planned from June 2012.
27 Apr 2012quarterly activities report● Neutral
March quarter report restates the Hughenden 1.619Bt and White Mountain 262Mt resources, Springsure deal and South Gobi progress. Cash was $27.2m at 31 March, after the $25m placement. Exploration Target total now 0.975–8.893Bt. Mostly known news.
20 Apr 2012joint venture update▲ Good
South Gobi scoping study preliminary results support feasibility with costs in line with forecasts. Mining contract to be finalised by mid-May, with 8–10 weeks to mobilise; mining still targeted mid-2012. Ten parties responded on offtake with pricing above expectations; deals aimed for June quarter. Progresses earlier scoping and offtake threads.
18 Apr 2012director officer appointment● NeutralMajor
Former federal MP Peter Lindsay becomes independent Chairman. Founder Craig Ransley steps back to non-executive director, keeping his Mongolian subsidiary chair role and representing major shareholder TheChairmen1. Stated aim is better board independence as Guildford moves from explorer to miner.
10 Apr 2012asset acquisition disposition● Neutral
Tiaro Coal says China's Zhejiang Energy has begun due diligence, under a non-binding letter of intent, to buy Tiaro's interest in White Mountain. Guildford, which holds 56%, has a first right of refusal on the same terms. No price set; outcome unknown.
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.
Create a free account to see this worked out for your own holding.
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.
31 Jan 2012quarterly activities report● Neutral
December quarter report restating the South Gobi mining licence, 70.4Mt coking resource, Hughenden 1.036Bt and White Mountain coal hits. Interim company-wide resource is 1.328Bt. Mongolian mining still targeted mid-2012; binding transport contracts, targeted for end-2011, are now aimed at early 2012. Nothing new.
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.
20 Jan 2012agm notice● Neutral
Chairman's script for the extraordinary meeting: procedure, introductions and rationale for the resolutions, including refreshing the capacity to issue shares and approving share issues and bonuses to directors and executives. Procedural; nothing new.
20 Jan 2012agm notice● Neutral
All six resolutions at the 20 January 2012 extraordinary meeting were carried, including ratifying the 10.87m-share placement and the director and executive share issues and CFO bonus.
29 Dec 2011agm notice● Neutral
Notice of 20 January 2012 extraordinary meeting. Asks holders to ratify the 10,869,566-share placement, approve share issues to the MD (7.36m), COO Queensland (1.66m) and two directors, and approve CFO bonuses tied to 500Mt and 1Bt inferred resource milestones.
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.
Create a free account to see this worked out for your own holding.
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.
31 Oct 2011quarterly activities report● Neutral
September quarter report restating the 925.8Mt Hughenden resource, the FTB buy-out to 100%, White Mountain at 56%, Sierra grant and higher Mongolian targets (30Mt–1.38Bt). Interim company-wide Exploration Target is 0.65–7.915Bt. Nothing new beyond earlier announcements.
