20 Oct 2022investor presentation● Neutral
Updated corporate presentation for an ASX showcase, describing a 7,600km2 landholding and Satama as a discovery. Repeats known information; no new results.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Oct 2022drilling result▲ Good
Auger drilling at Tongon North defined a 5km gold trend with up to 27.1g/t, and aircore at Natoga and P10 hit shallow zones such as 4m @ 3.34g/t from 40m. Resolves the pending Natoga results; follow-up is planned for the dry season.
13 Sept 2022half year report▼ Bad
Half-year accounts to 30 June 2022 show a loss of A$7.86M, up from A$1.26M a year earlier, driven by A$7.13M exploration spending. Recaps drilling; Ferke exploration is conditional on a security review.
8 Sept 2022drilling result▲ Good
IP geophysics at Satama shows strong untested anomalies over 4km west of current drilling, and wide-spaced aircore found a new zone over 800m, e.g. 12m @ 1.24g/t. Drilling resumes after the wet season in November; cash about A$7M.
26 July 2022drilling result▲ GoodMajor
Remaining Satama RC results are the best yet, e.g. 30m @ 1.92g/t from 94m and 5m @ 5.96g/t, confirming continuous gold over more than 2km, open in all directions. Management calls it the flagship project. Resolves the pending 20+ RC holes; IP survey also done.
26 July 2022quarterly activities report● Neutral
June 2022 quarter: about 44,000m drilled, with Satama, Bouake North, Nyangboue and Natoga results already announced. Cash about A$9M, which the company says funds exploration through 2022 and into 2023. Recaps known results.
20 July 2022asset acquisition disposition● NeutralMajor
Turaco agreed to sell non-core permit PR840 (326km2, from the Resolute package) to Awale Resources for 972,450 Awale shares, about A$200,000. It will also let PR639 lapse, leaving over 7,600km2. Minor in value.
28 June 2022drilling result▲ GoodMajor
First reconnaissance drilling at Bouake North (Eburnea) returned 3m @ 35.79g/t gold from 40m plus several shallower hits, testing two of six auger anomalies. Resolves earlier pending assays; 61 more aircore holes await results. Cash about A$10M.
17 June 2022drilling result▲ GoodMajor
Diamond drilling at Nyangboue (Boundiali, 89%) extended mineralisation, e.g. 4m @ 8.34g/t and 2m @ 13.57g/t, and aircore found a new 400m shallow zone. Resolves the pending Nyangboue assays; cash about A$10M at 31 May.
9 May 2022investor presentation● Neutral
Updated corporate presentation for a Cape Town mining investment conference, describing an 8,350km2 landholding and about A$12M cash. Repeats known information; no new results.
3 May 2022drilling result▲ GoodMajor
Auger drilling at Natoga (Tongon North) returned up to 11.01g/t and 10.24g/t gold, defining at least four anomalies each over 1km long. An air core rig began a 10,000m program; cash about A$12M. Follows the March Natogo auger anomalies.
29 Apr 2022quarterly activities report● Neutral
March 2022 quarter: Satama aircore and first RC results, Bouake North auger complete, Nyangboue diamond drilling done with assays pending, Tongon North auger finds new Natogo prospect. Cash about A$12M. Recaps known results.
29 Apr 2022admin correction● Neutral
Appendix 4G confirms the corporate governance statement for the year to 31 December 2021 is in the annual report (pages 61-72) and board-approved. Compliance form only; no new company substance.
28 Apr 2022annual report● Neutral
Confirms the annual report sent to shareholders is identical to the accounts lodged on 31 March 2022. No new information.
26 Apr 2022drilling result▲ Good
First 15 RC holes at Satama confirm mineralisation continues into fresh rock, best 25m @ 1.79g/t from 101m, along more than 3km of strike. Over 20 further holes await assay. Cash about A$12M.
12 Apr 2022agm notice● Neutral
The 2022 AGM is set for 26 May 2022 in West Perth, with director nominations due by 21 April. Administrative notice only.
5 Apr 2022director officer appointment● Neutral
Resolute Mining has sold its Turaco shareholding, ending its roughly 25% stake. Bruce Mowat, appointed as Resolute's nominee, will stay on the board as an independent non-executive director.
31 Mar 2022annual report● Neutral
Statutory accounts for year to 31 December 2021, with a reconciliation to the quarterly cash report: some exploration salaries and overheads are classed as investing rather than operating. Closing cash about A$13.9M. Shareholder letter calls 2021 transformational.
21 Mar 2022drilling result▲ Good
Further aircore results at Satama, e.g. 29m @ 1.48g/t, extend the shallow gold over 3km of strike. A 4,500m RC program is underway; four rigs are now operating plus two auger rigs at Tongon North. Cash about A$13M.
2 Feb 2022drilling result▲ GoodMajor
Maiden RC and aircore drilling at Satama confirmed the October auger discovery, with gold over more than 3km of strike, e.g. 12m @ 3.80g/t and 20m @ 1.61g/t from surface. Mineralisation is open; program expanded, with geophysics planned.
25 Jan 2022quarterly activities report● Neutral
December 2021 quarter: completed 29-hole RC program at Nyangboue, Bouake North auger results, Satama RC/AC drilling started, and the A$10M placement. Cash about A$14M. Recaps known results; Bouake North RC to start within 1-2 weeks.
22 Dec 2021security holder rights change● Neutral
11,150,000 performance rights vested for key executives after 12 months' service and share price performance. Each converts to one share, exercisable before 30 November 2025. Potential dilution; the text does not give the holders.
20 Dec 2021admin correction● Neutral
Share registry Automic is moving its Perth office to 191 St Georges Terrace from 20 December 2021. Administrative notice only; no company substance.
6 Dec 2021drilling result▲ GoodMajor
Auger drilling at Bouake North (Eburnea) returned up to 25.2g/t gold, with trends 1.3-1.6km long and open; soil anomalies merged into one 7km x 4km zone. RC drilling is due early January 2022. Resolves the pending Bouake North assays; Satama drilling ongoing.
18 Nov 2021capital raising announcement▲ GoodMajor
Raised A$10M via a placement of 83.3m shares at 12c, an 11.1% discount to the last price of 13.5c, to new and existing institutions. Directors may add 833,333 shares subject to approval. Cash pro forma over A$15M, versus A$5.4M at 12 November.
What it means for a shareholder
83.3m new shares at $0.120 to raise about $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.
12 Nov 2021drilling result▲ GoodMajor
First 11 of 29 RC holes at Nyangboue (Boundiali, Turaco 89%) returned best 9m @ 2.62g/t and 17m @ 1.49g/t, with mineralisation open. Results are broadly consistent with the earlier historic drilling; 18 holes still pending, more drilling planned.
29 Oct 2021quarterly activities report● Neutral
September 2021 quarter: acquisition completed, Fitzgerald and Mowat joined the board, and multi-rig drilling began at Boundiali and Eburnea. Recaps the Satama auger discovery. Cash A$5.7M, down from A$7.1M. No new results.
26 Oct 2021investor presentation● Neutral
October corporate presentation restating known facts: about 8,350km2 in Côte d'Ivoire, four core projects, two discoveries ready for resource drilling and cash of A$5.7M at 30 September. No new results.
13 Oct 2021drilling result▲ GoodMajor
Auger drilling at the 100%-owned Satama permit (Eburnea project) returned gold over 4.5km of strike, best 9m @ 4.49g/t from 1m and 1m @ 9.91g/t. Company calls it a new discovery; aircore and RC follow-up planned for November 2021.
13 Sept 2021half year report▼ Bad
Half-year to 30 June 2021: loss of A$3.38M versus A$130k a year earlier, driven by a write-off of capitalised Mbengué PR272 exploration spend, higher exploration, share-based payments and deal costs. Acquisition completed after period end.