Each one in plain English, with the numbers worked through for a shareholder.
4 June 2024resource reserve update▲ GoodMajor
Maiden JORC resource for Colossus: 201Mt at 2,590ppm TREO (1,000ppm cut-off), 26% magnet rare earths, including 62Mt Indicated. Cupim South holds 28Mt at 3,061ppm. Resource covers only about 7% of the project area. This delivers the long-awaited Q2 2024 resource.
9 May 2024investor presentation● Neutral
May 2024 investor presentation. Shows 63.76m shares, $1.43 share price, $91.17m market cap and $8.585m cash post-raise (2 May), no debt. Largely repeats known facts; no new announcement visible in the text shown.
8 May 2024drilling result▲ Good
Seventh Colossus assay batch: scout auger drilling found mineralisation on 8 previously untested concessions, e.g. FC-AG-002 13m at 7,632ppm TREO. Initial drilling on the Cupim South Extension doubled the mineralised footprint. Maiden resource still guided to June 2024, Scoping Study Q3 2024.
30 Apr 2024quarterly activities report● Neutral
Quarter to 31 March 2024 recap: high-grade Colossus drilling (peaks above 24,000ppm TREO), new discoveries, 9.98km2 licence deal, Hatch scoping study contract, A$4.5m raise at $1.15, and post-quarter IXR JV and A$8m raise at $1.25. Mostly repeats known news.
23 Apr 2024security holder rights change● Neutral
Following the 16 April meeting, a new class of Performance Shares was created, which formally varies existing shareholders' rights. Five classes of 500,000 convert on Inferred resources of 100Mt-500Mt at 1,500ppm TREO, mostly at Centro Sul. They carry no votes or dividends.
22 Apr 2024capital raising announcement▲ GoodMajor
Viridis raised A$8m through a placement of about 6.4m shares at $1.25, a 7.8% discount to the last close, led by Bell Potter and Fosters. Funds go to drilling, resource definition, scoping studies and ANSTO metallurgical work.
What it means for a shareholder
6.4m new shares at $1.25 to raise about $8.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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18 Apr 2024well test result▲ Good
First bulk leach tests across four Colossus concessions (37 holes, 91 samples) showed average Nd+Pr recoveries of 59-67% and Dy+Tb of 49-65% under unoptimised conditions. This follows the ANSTO single-hole result; metre-by-metre testing with ANSTO is next.
10 Apr 2024drilling result▲ Good
Sixth Colossus assay batch: Tamoyo hole TM-DDH-005 returned 15m at 6,153ppm TREO with a peak of 27,087ppm, the highest grade in the complex. Two new discoveries (Tamoyo, Centro Sul) were reported; Cupim South hole CS-RC-095 hit 81m at 2,236ppm.
3 Apr 2024joint venture update▲ GoodMajor
Viridis signed a binding terms sheet for a 50/50 joint venture with Ionic Rare Earths (ASX:IXR) to commercialise rare earth separation technology, plus recycling technology in Brazil. It is not an offtake deal, and Viridis can still market 100% of Colossus product.
20 Mar 2024well test result▲ GoodMajor
First ANSTO leach test on Cupim South hole CS-DDH-001 recovered 80% of Nd-Pr and 66% of Dy-Tb over 11.9m, with very low uranium and thorium. This resolves the first part of the ANSTO testing thread; bulk sample results due late April/early May.
15 Mar 2024agm notice● Neutral
Notice that a general meeting will be held 16 April 2024 in Perth, with proxy voting closing 14 April. Administrative; the text shown does not list resolutions, though earlier context suggests director placement participation and Guedes options are likely items (inference).
14 Mar 2024half year report● Neutral
Half-year to 31 Dec 2023: net loss $3.75m (including $2.55m share-based payments), cash $1.56m, net assets $9.02m, capitalised exploration $9.3m. Also recaps the A$2.2m placement at $0.25 and A$3.09m at $0.95. Largely confirms known figures.
12 Mar 2024drilling result▲ Good
Fifth Colossus assay batch: auger hole CS-AG-002 returned 10m at 11,850ppm TREO, peaking at 24,894ppm, and CDP-DDH-010 peaked at 25,075ppm, the highest single sample at Colossus. Over 110 holes still await assays; results feed the maiden resource.
6 Mar 2024asset acquisition disposition▲ GoodMajor
Viridis signed a binding agreement for a further 9.98km2 of licences (3 mining licences, 1 mining request) next to Cupim South, linking it with Centro Sul into a 15.75km2 corridor. Total Poços de Caldas landholding would reach 239km2 on settlement. Price not stated in the text shown.
4 Mar 2024material agreement▲ GoodMajor
Viridis signed non-binding MoUs with the Minas Gerais state body Invest Minas and the Poços de Caldas municipality to support faster approvals and infrastructure for Colossus. Being non-binding, they do not guarantee permits.
20 Feb 2024director officer appointment▲ Good
Jose Carlos Guedes Rosado, former Serra Verde COO and ex-Lynas executive, joins as independent non-executive director. He is to receive 200,000 options at $2.00 over two years, subject to shareholder approval.
15 Feb 2024contract award▲ GoodMajor
Hatch was awarded the Colossus Scoping Study and engineering support contract. The formal study starts March 2024, focused first on the Northern concessions, covering processing, capex, opex and schedule. Contract value is not stated in the text shown.
6 Feb 2024admin correction● Neutral
Re-release of the 1 February assay announcement adding Figures 2 and 3. The company confirms there are no other changes, so there is no new information.
5 Feb 2024capital raising announcement▲ GoodMajor
Viridis raised about A$4.5m through a placement of roughly 3.9m shares at $1.15, to speed up Colossus drilling, metallurgy and the maiden resource. Directors subscribed $1.24m, including $1.0m from the Chairman; $1,057,500 of that needs shareholder approval.
What it means for a shareholder
3.9m new shares at $1.15 to raise about $4.5m. 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.
2 Feb 2024investor presentation● Neutral
Conference presentation repeating known Colossus results. It shows 49.1m shares, a $1.14 share price, $55.97m market cap, cash of $1.57m and no debt as at 31 January 2024.
1 Feb 2024drilling result▲ GoodMajor
Fourth Colossus assay batch: FZ-RC-29 returned 5.5m at 14,896ppm TREO, peaking at 23,556ppm at 1-2m depth, which the company calls the highest surface grade in the complex. A new Ribeirão discovery was also reported; over 100 holes still await assays.
31 Jan 2024quarterly activities report● Neutral
December quarter report recaps Colossus drilling (consistent grades of ~2,400-3,500ppm TREO over ~10km2), the ANSTO engagement, Moreno's CEO appointment and the A$3.09m placement at $0.95. Largely repeats known facts; the cash figure is not in the text shown.
24 Jan 2024asset acquisition disposition▲ GoodMajor
Viridis signed two binding agreements for a further 101km2 of licences (Tamoyo and Bandeira prospects), lifting Colossus landholding to 228.63km2, a 44% increase. Tamoyo comprises three granted mining licences; Bandeira has four exploration licences and two applications. Deal price not stated in the text shown.
19 Jan 2024drilling progress report▲ GoodMajor
Phase I and II drilling nearly done; hole CS-DDH-007 hit 103m of clay at Cupim South. BNA Mining Solutions was contracted to prepare the maiden JORC resource, with completion anticipated in Q2 2024. Samples have gone to ANSTO for testing.
15 Jan 2024security holder rights change● Neutral
Escrow release notice: 4,188,891 shares and about 9.7m options at $0.30 come free of ASX escrow from 24 January 2024. This closes the escrow-release thread; the text does not say whether holders intend to sell.
3 Jan 2024drilling result▲ GoodMajor
Third Colossus batch finds higher grades in a new western area, Capão da Onça: auger hole CDO-AG-071 7m at 8,277ppm TREO. Fazenda diamond hole FZ-DDH-006 returned 33.5m at 3,091ppm. Over 100 auger, 34 RC and 19 diamond holes still await assays.
20 Dec 2023drilling result▲ Good
Further Smoky assays lift halloysite results to 13m at 86.1% from 4m in VS23-06, with a peak of 95.1% over 1m. VS23-07 gave 9m at 79.2%. This builds on October's results; samples above and below are still awaiting assays.
7 Dec 2023drilling result▲ GoodMajor
Second Colossus assay batch confirms more thick clay: CJ-DDH-001 21.5m at 3,195ppm TREO, FZ-DDH-004 15m at 3,559ppm, CT-DDH-001 40m at 2,352ppm. Carijo, Central and Caminho Das Pedras are new discoveries; over 140 holes still await assays.
30 Nov 2023contract award▲ GoodMajor
ANSTO engaged for Phase I metallurgical testing of ionic desorption at Colossus, on about 50 composite samples from two prospects. This follows up the earlier surface-sample recoveries. Second assay batch still expected December 2023; over 260 holes drilled.
24 Nov 2023director officer appointment▲ GoodMajor
Rafael Moreno appointed Chief Executive Officer from 15 January 2024, on A$331,500 a year plus 650,000 performance rights tied to share price and resource milestones. He is currently a COO at lithium projects in Argentina and Nevada.
