Past year: ▲ 43%(4.20c – 15.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Oct 2021investor presentation● Neutral
AGM presentation recapping Nomgon-6 testing (280 barrels of water a day), the 14.6 Tcf risked prospective resource, 2022 pilot and hydrogen plans. Shows $30.9M cash at 30 Sept (unaudited) and 891M shares. No new results.
28 Oct 2021agm notice● Neutral
Chairman's AGM address: 11+ wells at a 72.7% success rate, $32.8M cash at year-end, and the Nomgon-6 flow test as a milestone. Says next year's pilot production program is the focus. Repeats known points; no new results.
28 Oct 2021agm notice● Neutral
Voting results for the 2021 AGM: all eight resolutions appear to have passed, with 'for' votes between roughly 84% and 98% of votes cast. Administrative.
27 Oct 2021well test result▲ GoodMajor
Nomgon-6 flowed gas and water to surface from four zones, with 280 barrels of water a day combined; methane was detected by uncalibrated, qualitative gas-meter readings. Elixir's first gas flow in a Mongolian CBM well, feeding the 2022 pilot. Richcairn-2S (8 m coal) and 3S (13 m coal) hit coal; third rig spudded Richcairn West-1S.
14 Oct 2021regulatory community update▲ Good
Elixir signed an MOU with Mongolia's Ministry of Energy to cooperate on hydrogen. A K1 Capital report puts South Gobi combined wind and solar utilisation at 79%, versus about 40-60% for Western Australian locations. Builds on the hydrogen strategy and SODAR wind measurements; early-stage, non-binding.
29 Sept 2021investor presentation● Neutral
Hydrogen presentation from the International New Energy Summit, setting out Mongolia's potential for green hydrogen near Chinese steel mills. GOH Clean Energy has deployed a SODAR wind-measuring unit. It is a strategy pitch with no new results or commitments.
28 Sept 2021agm notice● Neutral
Letter announcing the 2021 AGM, to be held virtually on 28 October 2021 at 10:30am ACST. Administrative only.
17 Sept 2021drilling result▲ GoodMajor
Richcairn-1S found 16 m of coal in a new sub-basin over 100 km long, the first well to hit coal purely on seismic. Nomgon Central-1 logged 65 m of coal but gas content looked lower than earlier Nomgon wells. A third rig is being added.
25 Aug 2021drilling result▲ Good
Kingston-3S, drilled to 800 m, logged 6.5 m of coal and extends the Kingston sub-basin to up to 50 km2. Richcairn-1S has spudded in another new area, Nomgon Central-1 is drilling, and seismic has identified a new target, Lattice.
17 Aug 2021other● Neutral
Corporate governance statement for 2021, current to 12 August 2021, describing board policies and where Elixir departs from ASX recommendations. Administrative; no new business information.
17 Aug 2021annual report▲ Good
Annual report for the year to 30 June 2021 (text truncated). The Chairman cites 11 wells drilled, a 72.7% success rate in finding coal, the first contingent resource, and $26.6m raised in the year. It says the company is ahead of its PSC commitments.
17 Aug 2021other● Neutral
Appendix 4G governance checklist lodged with the annual report, pointing to the corporate governance statement on the website. Administrative only.
29 July 2021quarterly activities report▲ Good
June quarter: about $33 million cash after the April raising, six wells drilled, 220 km of 2D seismic acquired, and three sub-basins identified (Nomgon, Yangir, Kingston). Management says it is fully funded for many years. Mostly repeats earlier updates.
20 July 2021drilling result▲ GoodMajor
Kingston-1S and 2S found 12 m and 8 m of coal, establishing a new coal-bearing sub-basin; Kingston-2S, at 801 m, is Elixir's deepest well yet. Kingston-3S has spudded, and Nomgon Central-1 will spud within a week to help design production tests.
16 July 2021investor presentation● Neutral
Noosa conference presentation repeating the known story: 100% of Nomgon IX, 14.6 Tcf risked prospective resource, about 20 wells planned in 2021, and seismic expanded to 500 km. It shows 891M shares and about $32.5M cash at 30 June (unaudited). No new results.
23 June 2021drilling result▲ Good
West Yangir-1, 8 km west of earlier Yangir wells, logged 48 m of coal to 350 m, where depth was cut short by difficult drilling. Manlai-1S failed to reach target depth after mechanical issues. Kingston-1S spudded in a new sub-basin and has hit coal. The first 220 km of 2D seismic is done.
28 May 2021other● Neutral
Links to online recordings of two recent CEO interviews (Port Jackson webinar 27 May, B2B Interviews 25 May). No new information.
27 May 2021drilling result▼ Bad
Cracker-1S (563 m, new NW sub-basin) hit Triassic rather than Permian rocks, with no clear Permian, a miss the MD says was not in line with aims. A second rig has arrived and spudded Manlai-1S; 140 km of 2021 seismic is acquired.
25 May 2021investor presentation● Neutral
Notice that the MD will present at a Port Jackson Securities webinar on 27 May 2021, covering Mongolian progress and finances. No new results or figures.
19 May 2021other▲ Good
Elixir is added to the MSCI Micro Cap Australia index from 27 May 2021. The company says this may bring more international exposure and liquidity; no operational or financial change.
12 May 2021capital raising announcement▲ GoodMajor
The Share Purchase Plan closed having raised $16.6m from over 1,400 shareholders, below the $20m target. With the $10m placement, the 36c raising totals about $26.6m, completing the funding for the expanded program.
7 May 2021drilling spud● Neutral
Cracker-1S spudded on 6 May, 130 km northwest of the last well, to test a new sub-basin identified by 2020 seismic. A second drilling company will mobilise within about two weeks as COVID restrictions ease. 51 km of 2021 seismic has been acquired.
30 Apr 2021quarterly activities report● Neutral
March quarter report: 12 wells drilled, 11 with coal, and the 2021 program is to be accelerated with funds from the April raising. Also covers the gas power project and a new clean energy subsidiary, GOH Clean Energy, that has bought a wind and solar measuring unit. Mostly repeats earlier news.
28 Apr 2021drilling result▼ BadMajor
Temee-1S, 40 km east of the Nomgon discovery, hit basement and found no coal, marking the eastern limit of coal in that depocentre. This is the first miss, leaving 11 of 12 wells with coal (92%). The first seismic line shows coal-like reflectors in a new sub-basin.
22 Apr 2021capital raising announcement● Neutral
Offer booklet for the Share Purchase Plan: eligible holders can apply for $500 to $30,000 of shares at 36c, closing 7 May 2021, with new shares to trade from 19 May. Terms repeat the 21 April announcement.
22 Apr 2021investor presentation● Neutral
Capital raising presentation: about $30m of funds if the SPP hits its target, split roughly $8m each to drilling, seismic and pilots and $6m to other costs. Plans 700 km of 2D and up to 1,000 km2 of 3D seismic, plus about 16 more wells, taking the total to about 30.
21 Apr 2021capital raising announcement▲ GoodMajor
Elixir raised $10m through a placement of 27.8m shares at 36c, a 20% discount to the last close. It also launched a Share Purchase Plan targeting $20m at the same price. The money funds an expanded Mongolian program meant to bring development forward 18-24 months.
What it means for a shareholder
27.8m new shares at A$0.360 to raise about A$10.0m. That's 3.3% dilution: every existing holder's slice gets 3.3% smaller. If you held A$1,000 of shares (2,778 at the issue price), your slice goes from 0.000341% to 0.00033% of the company. To keep it you'd need 95 more shares - about A$34 at the issue price.
Create a free account to see this worked out for your own holding.
14 Apr 2021drilling result▲ GoodMajor
Yangir-2 reached 578 m. Its gas is 99% methane, sales-gas quality, with raw gas content of 4.2-7.0 m3/t. Only 17 m of coal was logged in the first 300 m, and injectivity tests were uninterpretable because of heavy fracturing. A second rig is added and a 220 km seismic program has started.
7 Apr 2021resource reserve update▲ GoodMajor
Elixir books its first contingent resource, covering the western Nomgon sub-basin: 2C recoverable gas of 24 Bcf (1C 5, 3C 104), unrisked. It also signed a Ministry of Energy MOU and engaged Clarke Energy for a feasibility study on a roughly 10 MW gas-fired power project.
17 Mar 2021investor presentation● Neutral
Conference presentation repeating the known story: Nomgon IX 100% owned, 14.6 Tcf risked prospective resource, 2021 program of 3 core-holes, 10 strat-holes, 200 km seismic and a pilot test. Notes 811M shares and a $227M market value at 28c. No new results.
