Each one in plain English, with the numbers worked through for a shareholder.
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.
8 Apr 2024quarterly activities report● Neutral
March quarter report recaps Luni drilling, with the high-grade blanket now over 2km east-west and open. Flotation testwork began, and a second rig starts in April. Cash was about $53m at 31 March, following the $40m placement at $10.
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.
18 Jan 2024investor presentation● Neutral
January 2024 equity raising presentation for the $40m placement. Visible text is disclaimers only, and says it incorporates exploration results only up to 28 August 2023. No new information visible.
18 Jan 2024capital raising announcement▲ GoodMajor
WA1 raised $40m via a placement of four million shares at $10.00, a 10.2% discount to the last traded price. Pro-forma cash is about $56.7m, with about 61.3m shares on issue. Funds go to drilling, metallurgy, studies and permitting. Price is double September's $5.00 placement.
17 Jan 2024quarterly activities report● Neutral
December quarter report recaps Luni and P2 results; over 30,000m drilled in 2023. Second tranche of the $15m placement at $5.00 completed. Cash about $18.7m at 31 December. Maiden Luni resource still targeted for Q2 2024; drilling to restart early 2024.
20 Dec 2023drilling result▲ Good
Assays from six-hole P2 reconnaissance program, 30km west of Luni, include PARC23-007 114m at 0.5% Nb2O5 and PARC23-006 18m at 0.6%. Mineralisation extends 1km east of the 2022 discovery hole; company says P2 may be a future satellite to Luni. Grid drilling is planned.
11 Dec 2023drilling result▲ Good
Luni central-zone assays close the gap between the western and eastern high-grade zones, e.g. LURC23-069 50m at 2.0% Nb2O5 (incl. 13m at 4.9%). First diamond hole LUDD23-001 hit 31.1m at 2.4%; LURC23-174 12m at 3.0% supports the deeper southeast zone. Drilling paused until 2024.
24 Nov 2023agm notice● Neutral
WA1 withdrew AGM Resolution 3, a request to issue an extra 10% of capital, because its market capitalisation now exceeds the $300m limit for Listing Rule 7.1A. The AGM remains set for 27 November 2023; other resolutions are unaffected.
20 Nov 2023investor presentation● Neutral
Fastmarkets ferroalloys conference presentation on niobium in Western Australia, with Paul Savich and marketing advisor Gustavo Macedo as contacts. The visible text is disclaimers only and shows no new information.
16 Nov 2023investor presentation● Neutral
Noosa Mining Conference presentation covering West Arunta, incorporating announcements up to 15 November 2023. The visible text is disclaimers only and shows no new information.
8 Nov 2023drilling result▲ Good
100m-spaced infill holes in eastern Luni confirm continuity of the high-grade blanket, e.g. LURC23-157 30m at 4.7% Nb2O5 and LURC23-141 15m at 3.3%. Nearly 26,000m drilled this year; maiden resource still targeted for H1 2024, and drilling pauses in early December.
26 Oct 2023drilling result▲ GoodMajor
Luni's best broad step-out result yet: LURC23-002 returned 31m at 4.6% Nb2O5, with LURC23-066 41m at 2.8% about 400m west of LURC23-015. This widens the high-grade footprint in the southwest. Drilling continues toward the maiden resource.
20 Oct 2023quarterly activities report● Neutral
September quarter report recapping Luni's 2km-plus high-grade zone and the completed P2 program, with over 20,000m drilled. Cash was about $23m at 30 September, excluding second placement tranche funds due in October. Maiden resource still targeted for H1 2024; no new results.
19 Oct 2023material agreement▲ GoodMajor
WA1 signed a Negotiation Protocol with the Ngururrpa native title holders, whose determination covers Luni, to negotiate in good faith towards a Mining Agreement for West Arunta. It is a process agreement, not a mining agreement, and sets an indicative timeline.
27 Sept 2023investor presentation● Neutral
Canaccord Latam conference presentation on West Arunta, incorporating announcements only up to 28 August 2023. The visible text is disclaimers and shows no new information.
26 Sept 2023drilling result▲ Good
New Luni assays 400m west of earlier holes, including LURC23-013 16m at 2.0% Nb2O5, extend the shallow high-grade zone to over 2km east-west. First 100m infill hole LURC23-110 hit 7m at 3.1%. Over 20,000m drilled, with 10,000m more planned this year.
15 Sept 2023annual report● Neutral
2023 annual report. The chair's letter reviews the Luni and P2 discoveries and says the maiden Luni resource is expected in the first half of 2024, with metallurgical testing on a conventional flowsheet planned. No new information visible.
15 Sept 2023annual report● Neutral
Appendix 4G governance checklist lodged with the 2023 annual report, pointing to the corporate governance statement on the company website. Administrative filing with no operational or financial information.
6 Sept 2023investor presentation● Neutral
September 2023 investor update on the West Arunta project, incorporating announcements up to 28 August 2023. The visible text is disclaimers only and shows no new information.
