Each one in plain English, with the numbers worked through for a shareholder.
4 Feb 2025well test result▲ GoodMajor
First ferroniobium made from Luni refined concentrate in a 0.5kg test, giving 65.7% Nb and 24.3% Fe. This completes proof-of-concept across all three conventional flowsheet stages, resolving the open ferroniobium conversion thread. It is small-scale only.
13 Jan 2025drilling result▲ Good
Southern and western Luni assays include 100m at 1.9% Nb2O5 and 5m at 7.5%. Drilling now totals about 50,000m. The updated resource, now aiming for a maiden Indicated category, is expected later in the first half of 2025.
9 Dec 2024well test result▲ Good
Beneficiation testwork on a three-hole north-east composite (head grade 3.8%) gave a concentrate of 50% Nb2O5 at 58% recovery. This is lower grade but slightly higher recovery than June's 58% at 53% from one hole, and broadly confirms the flotation approach.
2 Dec 2024director officer appointment● Neutral
Lee Bowers appointed independent Non-Executive Director, effective immediately. He is Managing Director of Fivemark Partners, which is also the company's listed media contact, and chairs Agrimin. He will stand for election at the next general meeting.
19 Nov 2024investor presentation● Neutral
AGM presentation shows 67.7M shares, A$94.5M cash, a A$14.53 share price (18 Nov) and about A$984M undiluted market cap. Tali holds 20%. Shares on issue are up from about 64.9m earlier. No new project results visible.
15 Nov 2024admin correction● Neutral
Re-release of the 14 November Luni drilling update, amended only to add two geological cross-section figures. No new results or changes to the numbers.
14 Nov 2024drilling result▲ Good
New north-east Luni assays add high-grade niobium, including 25m at 4.4% Nb2O5 and 75m at 1.9%. About 180 holes and 18,000m drilled this year. Site work will pause once drilling for the updated resource, still targeted for first half 2025, is done.
11 Nov 2024investor presentation● Neutral
Fastmarkets Ferroalloys Conference presentation restates the 200 Mt at 1.0% Nb2O5 Luni resource (53 Mt at 2.1% high-grade) and the 100% ownership. Visible text shows no new results or figures.
23 Oct 2024drilling result▲ GoodMajor
New Luni assays add high-grade niobium, including 20m at 6.4% Nb2O5 (LUSD-0006) and 66m at 2.2%. Southeast rare earths hit 27m at 3% TREO. Three rigs are running; the updated resource is now targeted for the first half of 2025.
15 Oct 2024investor presentation● Neutral
October 2024 corporate presentation repeats the 200 Mt at 1.0% Nb2O5 resource and about A$100m cash. No new information visible beyond known results.
7 Oct 2024well test result▲ GoodMajor
Refining testwork on the Luni flotation concentrate produced 66.9% Nb2O5 at 99.9% recovery, the second of three stages toward ferroniobium. It meets the target to proceed to the final conversion stage, which is untested. Based on one northeast drillhole sample, bench-scale.
17 Sept 2024regulatory community update▲ Good
WA1 signed a negotiation protocol with Tjamu Tjamu, for the Kiwirrkurra people, to negotiate an access road and infrastructure agreement. A miscellaneous licence (L80/121) was applied for to link Luni to the Mid-State Highway. It complements the earlier Parna Ngururrpa protocol.
12 Sept 2024annual report● Neutral
2024 annual report for the year to 30 June 2024. The chair's letter recaps the maiden 200 Mt at 1.0% Nb2O5 resource and June flotation results. The visible text shows no new results; auditor is BDO Audit Pty Ltd.
12 Sept 2024admin correction● Neutral
Appendix 4G and corporate governance statement for the year to 30 June 2024, a routine compliance filing dated 12 September 2024. It points to the website statement and carries no new business information.
6 Sept 2024other▲ Good
S&P Dow Jones Indices announced its September 2024 rebalance. WA1 is added to the S&P/ASX 300 index, effective 23 September 2024. No company-specific operational news.
5 Aug 2024investor presentation● Neutral
Diggers & Dealers presentation repeats the 200 Mt at 1.0% Nb2O5 resource (53 Mt at 2.1% high-grade) and about A$100m cash. It notes over 250 holes drilled at Luni. No new information.
22 July 2024investor presentation● Neutral
July 2024 corporate presentation restates the 200 Mt at 1.0% Nb2O5 resource and early flotation results. It shows pro-forma cash of A$104m, 64.9m shares and a A$15.76 share price (19 July). No new results; Tali holds 17%.
11 July 2024capital raising announcement▲ GoodMajor
WA1 raised $60m through a placement of about 3.5m shares at $17, a 9.8% discount to the last price. Shares on issue rise to about 64.9m. Funds go to drilling, metallurgy, permitting and development. The price is up from $10 in January.
What it means for a shareholder
3.5m new shares at $17.00 to raise about $60.0m. 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.
1 July 2024resource reserve update▲ GoodMajor
Maiden Luni Inferred resource of 200 Mt at 1.0% Nb2O5, including a high-grade 53 Mt at 2.1%. It covers weathered material from 30m to 190m depth, excludes fresh rock, and is open at depth. Delivered on the June-quarter timetable; more drilling targets Indicated status.
26 June 2024investor presentation● Neutral
June 2024 metallurgical testwork presentation. The visible text is disclaimers only; it covers results up to 6 June 2024 and shows no new information beyond the 19 June flotation results.
19 June 2024well test result▲ GoodMajor
First Luni flotation testwork produced a 58% Nb2O5 concentrate at 53% recovery in locked-cycle tests, from one north-east drillhole sample. The company calls this comparable to industry and an important step; further optimisation and variability testing follow. Downstream processing is untested.
3 June 2024drilling result▲ Good
Last assays needed for the initial Luni resource are in, with intercepts such as LUDD23-007 35m at 2.2% Nb2O5 and 40.1m at 3.2% (to end of hole). Resource reporting is on schedule for late June; two rigs keep drilling.
26 Apr 2024drilling result▲ Good
Final 2023 extensional assays widen Luni to the east, e.g. LUDD23-025 72.7m at 1.5% Nb2O5. Southeast hole LURC23-093 also hit 7m at 10% rare earth oxides, the best rare earth result so far. Two rigs are running; resource still due this quarter.
19 Apr 2024auditor change● Neutral
BDO Audit Pty Ltd replaces BDO Audit (WA) Pty Ltd as auditor after BDO restructured its audit practice. This is an administrative change within BDO, not a switch of firms; shareholders will confirm it at the next AGM.
28 Mar 2024drilling result▲ Good
Luni assays include the best niobium hole to date, LUDD23-013 at 34m at 4.8% Nb2O5 (incl. 16m at 7.9%), in the north-east. Results continue the shallow high-grade blanket; the initial resource is still on schedule for the June quarter.
5 Mar 2024half year report● Neutral
Half-year to 31 December 2023: loss of $1.46m, with $10.8m of exploration spending capitalised. Cash was $18.7m; 57.3m shares on issue. The $40m placement settled on 25 January 2024 with four million new shares. Largely repeats known drilling results.
1 Mar 2024other▲ Good
S&P Dow Jones Indices announced a March 2024 rebalance of the ASX indices. The visible list shows WA1 being added to the All Ordinaries index, effective 18 March 2024. No company-specific operational news.
21 Feb 2024drilling result▲ Good
Central and western Luni infill assays continue the high-grade blanket, e.g. LURC23-125 23m at 4.3% Nb2O5 and LURCD23-115 124.5m at 1.2%. Drilling restarts, with a second rig due in April. Clovis Sousa joins as niobium processing advisor; resource still due June quarter.
2 Feb 2024drilling result▲ Good
Western Luni assays extend and infill the high-grade zone, e.g. LURC23-240 17m at 3.8% Nb2O5 and LURC23-236 120m at 1.0%. Results from 125 holes reported. Diamond drilling restarts this month, metallurgical testwork has begun, and the maiden resource is still expected in Q2 2024.
29 Jan 2024admin correction● Neutral
Administrative notice that 14,811,664 shares and 2,850,000 unquoted options come out of ASX escrow on 8 February 2024. There is no change to issued capital.
