23 Oct 2019other● Neutral
Appendix 4G and corporate governance statement for the year to 30 June 2019, filed with the annual report. Administrative compliance filing with no new information on projects or finances.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 Oct 2019annual report● Neutral
Annual Report for the year to 30 June 2019, with the chairman's address noting the AEP acquisition, the $5M raise and the 4 July reinstatement. Says the 2,000m Hualilan drilling began 11 October. Financial figures are not visible in the readable text.
22 Oct 2019investor presentation● Neutral
Presentation for the Hong Kong 121 Mining conference (22-23 Oct) restating Hualilan, El Guayabo and Karoo projects. Notes drilling started last week. It also carried a US$12M plant cost figure, later retracted on 3 December.
15 Oct 2019drilling spud▲ GoodMajor
Maiden Hualilan drilling began 11 October; first hole GNDD-001 finished at 109m, showing brecciation, veining and sulphides at 70-90m as predicted. Part of a 9-hole, 1,055m first campaign. No assays yet; first results expected in 2-3 weeks.
7 Oct 2019director officer appointment▲ Good
Dr Stuart Munroe joins as Exploration Manager, previously with SRK where he managed the Hualilan 3D modelling. He will oversee the maiden drilling program. Issued capital is now shown as 468.9m shares.
27 Sept 2019annual report● Neutral
Annual financial report for the year to 30 June 2019 for Challenger Exploration. Lists Quinn, Knauer and Funston as directors from 4 July 2019 and the earlier board as resigned. Financial figures are truncated and not visible.
25 Sept 2019drilling result▲ Good
All 70 Hualilan samples now reported, averaging 15.0 g/t gold, 75.5 g/t silver and 6.8% zinc, about 20% above the historical gold grade. Identifies new untested high-grade zones at Cerro Norte and Cerro Sur. Completes the sampling program; maiden drilling is next.
16 Sept 2019drilling scheduled▲ GoodMajor
All approvals granted and a contract signed for a maiden 2,000m diamond drilling program at Hualilan, in two 1,000m campaigns over 3 months. Rig due in 2-3 weeks. 3,333,334 shares will be issued to the Argentine partners when drilling starts.
3 Sept 2019investor presentation● Neutral
September 2019 investor presentation on Hualilan, El Guayabo and the Karoo gas application. Repeats known project facts and the historical resource; no new results or figures identified in the readable text.
13 Aug 2019drilling result▲ Good
Cerro Norte results: 21 bulk samples average 14.7 g/t gold, 44.8 g/t silver and 9.8% zinc, above the historical grades. 30 more of the 70 samples reported. Three samples exceeded the zinc detection limit and went for re-assay.
26 July 2019drilling result▲ Good
First El Guayabo geophysics (one IP line of a 16 km2 survey) shows two large targets below historic drilling, which stopped at about 300m. Targets sit 300-800m deep and are open at depth. Mapping and sampling started near the second target. Interpretation only; not drilled.
25 July 2019admin correction● Neutral
Corrects the 16 July release's reference for the historical La Mancha resource, now pointing to the 22 February 2019 announcement. Restates the non-JORC 627koz at 13.7 g/t estimate, which remains unverified. No new data.
16 July 2019drilling result▲ Good
Second batch of Hualilan underground samples: 27 channel samples include 201 g/t gold over 1m within a 5m zone of 52.2 g/t, plus copper up to 16.1%. Further supports the historical mineralisation; 35 of 70 samples now reported, with the rest due in weeks.
9 July 2019drilling result▲ GoodMajor
First sampling at Hualilan: the first eight of 70 underground samples confirm high grades, including 30.9 g/t gold over 1m. Backs the historical 627k oz at 13.7 g/t estimate, which is non-JORC and still to be validated by drilling. Remaining results due in weeks.
4 July 2019director officer appointment● NeutralMajor
Fletcher Quinn (Chairman), Kris Knauer (Managing Director, $240,000 salary) and Scott Funston (Finance Director/CFO/Secretary, $150,000) take office, as planned at the 29 April meeting. Fry, Willes, Carey and Lees resign. New management now runs the company.
4 July 2019capital raising announcement▲ GoodMajor
Company says it has completed the $5m raise at 3c per share and resumes trading about 10am on 4 July 2019. Funds go to Hualilan (Argentina) and El Guayabo (Ecuador). 306m securities are escrowed to 4 July 2021. Completes the re-listing.
3 July 2019listing compliance notice▲ Good
ASX confirms the suspension of Challenger Exploration's shares lifts from the start of trading on 4 July 2019, after re-compliance with Chapters 1 and 2. Repeats the reinstatement already notified.
2 July 2019other● Neutral
Company constitution lodged, adopted by special resolution on 29 April 2019. Standard governance document, no new operational or financial information.
2 July 2019other● Neutral
Incentive Performance Rights Plan, approved by the board on 15 May 2019, lodged as part of re-listing paperwork. Sets the rules for granting performance rights to staff; no grants or figures visible. Administrative.
2 July 2019asset acquisition disposition▲ GoodMajor
Company confirms the AEP acquisition is complete, with 180m shares, 78.4m options and 120m performance shares issued to vendors. $300,000 of loans converted into 10m shares, and 25m shares issued to repay AEP's loan facility. Completes the deal announced in February.
2 July 2019other● Neutral
Confirms the restricted securities after quotation: 100,666,667 shares, 85,444,444 options and 120m performance shares, each held for 24 months from quotation. Matches the escrow already flagged by ASX.
2 July 2019other● Neutral
Audited financial statements of AEP, the company being acquired, from its 19 July 2018 incorporation to 31 December 2018. Show a $162,264 profit, mainly from a $300,000 capital gain, $690,029 cash and $1.43m of capitalised exploration. Kris Knauer is its sole director.
2 July 2019other● Neutral
Statement of capital structure after the prospectus: 465,560,126 shares, with 92,394,448 options and 120m performance shares. Excludes 245,000,001 deferred consideration shares due under the farm-in agreements, and proposed options for IRX Advisors. Restates known figures.
2 July 2019listing compliance notice▲ GoodMajor
ASX says shares will be reinstated on 4 July 2019 after re-compliance, ending the suspension that began 7 August 2018. 364,893,459 shares will be quoted; vendor shares, options and 120m performance shares are restricted for 24 months.
2 July 2019other● Neutral
ASX information form and checklist for re-admission, listing corporate details. Main activity is now minerals exploration in Argentina and Ecuador; Knauer, Quinn and Funston are proposed directors. Administrative, with no new substance.
2 July 2019other● Neutral
Securities trading policy lodged with the re-listing documents. Bars insiders from trading on unpublished price-sensitive information and during closed periods around results. Standard governance document with no operational or financial substance.
2 July 2019annual report● Neutral
Annual report for the year to 30 June 2018, filed under the old name Challenger Energy. Lists the former board (Fry, Willes, Carey) and secretary Lees, who are replaced at the AEP acquisition. Financial figures are truncated.
2 July 2019half year report● Neutral
Half-year report to 31 December 2018, re-lodged with the re-listing documents. Repeats the 22 February 2019 AEP deal, planned $5.0m raise at 3c, 1-for-5 consolidation and new directors. Nothing new beyond the earlier release.
2 July 2019other● Neutral
Appendix 1A listing application form, seeking quotation of 465,560,126 ordinary shares. Standard ASX paperwork supporting re-admission, with no new substance.
2 July 2019other● Neutral
Mining-entity annexure to the listing checklist. States the Hualilan and El Guayabo estimates are not JORC-compliant and refers to the prospectus. Administrative compliance form.