Past year: ▼ 21%(6.30c – 9.98c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
28 Oct 2011agm notice● Neutral
Chairman's script for the first AGM, covering meeting procedure and introducing the directors and auditors. The business update is handed to the Managing Director. Procedural, with no new business information 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.
24 Aug 2011material agreement▲ GoodMajor
Guildford hired UBS to advise on a separate ASX listing of Terra Energy, in which it would stay a significant shareholder. South Gobi first coal is targeted for the first half of 2012, with a mining licence by end-2011. Company suggests over US$50m a year of operating cash flow.
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%.
9 Aug 2011asset acquisition disposition▲ GoodMajor
Terra Energy, now 70% owned, completed the US$3.5m purchase of Alag Tevsh LLC, holding South Gobi licence 5262X. It adds a 0–122Mt Exploration Target, lifting South Gobi to 0–582Mt and Mongolia to 29–731Mt.
2 Aug 2011regulatory community update▲ Good
Guildford lodged an expression of interest for capacity at Abbot Point Coal Terminal stages 4–7, for Hughenden coal beyond the initial 10Mtpa envisaged via Townsville. It expects Hughenden might need about 20Mtpa of supply chain capacity. A scoping study is also under way.
28 July 2011quarterly activities report● Neutral
June quarter: Guildford lifted its Terra Energy stake to 70%, with over 8,500m drilled in Mongolia. Interim Exploration Targets across all projects total 69Mt–1.424Bt, and a Mongolian mining licence application is planned for September quarter. JORC resource work is under way at three priority projects with nine rigs.
8 July 2011asset acquisition disposition▲ GoodMajor
Terra Energy signed a non-binding-style heads of agreement, subject to due diligence, to buy 100% of a Mongolian company holding four projects, including the Javkhlant project with three mining licences and a completed feasibility study. Guildford also exercised its option to lift Terra Energy from 20% to 70%.
6 July 2011investor presentation▲ GoodMajor
EGM presentation, with the board saying it will exercise its option to lift Terra Energy from 20% to 70% on positive exploration results. Cash was A$35m at 31 May 2011; shares were $1.16, a A$479m market value. The EGM seeks to refresh the 15% share issue capacity.
6 July 2011agm notice● Neutral
Chairman's address to the EGM, held to ratify past share issues and refresh the 15% placement capacity, of which 14.87% had been used. Directors recommend voting in favour. Procedural, with no new business information.
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.
14 June 2011other● Neutral
Terra Energy, the Mongolian company in which Guildford holds a stake, opened an Ulaanbaatar office on 10 June 2011. Four rigs are drilling South Gobi and one Middle Gobi, aiming to define resources by the end of the Mongolian summer. Largely ceremonial.
3 June 2011regulatory community update▲ Good
Guildford says its Hughenden, Sierra and Kolan projects are not expected to be affected by Queensland's proposed Strategic Cropping Land policy, because exploration areas are mainly grazing land or outside the proposed protection zones.
31 May 2011material agreement▲ Good
Guildford signed a non-binding MOU with the Port of Townsville for a jointly funded feasibility study on exporting Hughenden coal via the Eastern Rail Access Corridor. It follows the November 2010 ARG rail MOU; a tripartite working party is set up.
24 May 2011director officer appointment● NeutralMajor
Craig Ransley, company founder and previously deputy chairman, becomes Non-Executive Chairman; Tony Bellas moves to deputy chairman. The board says the change reflects rapid progress fast-tracking project developments, with resource drill-outs under way at Hughenden and South Gobi.
16 May 2011joint venture update● Neutral
Hughenden partner Carpentaria resumed trading after Guildford's results, noting the 11.9m coal intersection is on EPC1477 owned by FTB, in which it holds 20% and Guildford 80%. Repeats Guildford's news with no new figures.
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.
29 Apr 2011quarterly activities report● Neutral
March quarter: cash was $46.8 million. Guildford added Mongolia's South Gobi (Exploration Target 0–460 Mt) and 51% of EPC1260. Two Hughenden rigs are running with a third secured, and the Hughenden target is still pending. Hughenden first coal aimed for end-2013.
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.
