2 June 2025director officer appointment● Neutral
Elizabeth Maynard appointed General Counsel and Company Secretary from 2 June 2025, replacing Rhys Bradley as Company Secretary. Bradley remains a Non-Executive Director.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 May 2025drilling result▲ Good
Final batch of 2024 assays from west and south Luni includes 11.3m at 12.7% Nb2O5 and 36.4m at 4.9%, plus 11.3m at 4.0% rare earths. Drilling passes 60,000m. Updated resource now expected in June.
1 May 2025director officer appointment● NeutralMajor
Kathleen Bozanic, CFO of IGO, appointed independent Non-Executive Director. Chair Gary Lethridge, in the role since 2021, will retire on 1 July 2025, when she becomes Chair. She will stand for election at the next general meeting.
28 Apr 2025quarterly activities report● Neutral
March quarter report recaps east Luni high-grade assays (28.5m at 6.6%), the ferroniobium proof-of-concept and restarted fieldwork. Cash was about $82.0M at 31 March, down from $86.5M. Updated resource still due late in the first half.
17 Apr 2025drilling result▲ Good
Final east Luni assays from 2024 drilling include 19.3m at 3.4% Nb2O5 and 11m at 3.9%. Total drilling passes 55,000m. Updated resource, targeting a maiden Indicated component, is now expected late in the June quarter.
12 Mar 2025half year report● Neutral
Half-year to 31 December 2024 shows a loss of $1.41M, $15.6M of exploration capitalised and cash of $86.5M (up from $46.9M at June, after the $60M placement). Shares on issue 67.7M. No subsequent events reported.
28 Feb 2025investor presentation● Neutral
February 2025 corporate presentation restates the 200 Mt at 1.0% Nb2O5 Luni resource, 100% ownership and about A$86M cash. Visible text shows no new results or figures.
21 Feb 2025drilling result▲ GoodMajor
East Luni assays define an exceptionally high-grade zone, including 28.5m at 6.6% Nb2O5 and 27.9m at 5.5%. This is the area targeted for early development. Drilling has restarted with two more rigs planned; updated resource still due first half 2025.
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.
24 Jan 2025quarterly activities report● Neutral
December quarter report recaps assays, metallurgy and Lee Bowers' appointment. Cash was about A$86.5M at 31 December, down from A$94.5M at 30 September. Fieldwork paused in early December and is due to restart in February 2025.
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.
25 Oct 2024quarterly activities report● Neutral
September quarter report recaps the 200 Mt at 1.0% resource, three rigs, the Tjamu Tjamu protocol and the completed $60m placement at $17. Cash was about $94.5m at 30 September. Two project leadership roles were appointed.
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.
26 Sept 2024agm notice● Neutral
Notice that the AGM will be held on or around 19 November 2024. Director nominations close 7 October 2024. Administrative only.
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 2024quarterly activities report● Neutral
June quarter report recaps the maiden 200 Mt at 1.0% Nb2O5 resource and initial flotation results. Two rigs are operating at Luni. Cash was about $47m at 30 June, before the $60m placement announced the same day.
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.
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