Past year: ▲ 43%(4.20c – 15.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
23 Sept 2020capital raising announcement● Neutral
704,539 listed options exercised at 6.79c raised $47,838. Also 2.5m shares issued to directors at 2c from the May placement after AGM approval. Shares on issue rise to about 699.0m; about 111.4m listed options remain.
22 Sept 2020other● Neutral
Copy of the company's new constitution, approved by shareholders on 18 September 2020. Administrative filing; the text provided shows no specific changes of substance.
18 Sept 2020other● Neutral
Proxy results cover sheet for the 2020 AGM. Contains no substance beyond the header; the vote detail appears in the AGM results announcement.
18 Sept 2020agm notice▲ Good
Chairman's AGM address calls the year 'stellar', recapping the Nomgon-1 discovery in Feb, the $3.3m raising and Nomgon-2 results with better permeability. Says the Nomgon sub-basin should prove commercial (the board's view). Repeats known facts, no new results.
18 Sept 2020agm notice● Neutral
All resolutions passed at the 18 September AGM, including re-election of Chair Richard Cottee, the directors' share placement (approval the earlier $50k cap was waiting on), and a new constitution and 10% placement facility. Routine meeting outcome.
18 Sept 2020investor presentation● Neutral
AGM presentation by the managing director recapping the Nomgon discovery and appraisal program. Shows 693m shares, $97m market cap at 14c and cash of $3.3m at 30 June. Cites 7.6 TCF risked best-case prospective resource. A second exploration drilling program begins soon. No new results.
17 Sept 2020drilling spud● Neutral
A fifth appraisal strat-hole, Nomgon 5S, spudded on 16 September, added after positive results from the earlier wells. Three to four exploration strat-holes in new areas follow before year-end. Seismic is fully processed and under interpretation. Nomgon-2 lab results are still due.
15 Sept 2020capital raising announcement▲ Good
Another 2,528,407 listed options at 6.79c were exercised, raising $171,679 and lifting shares on issue to 695.8m. Listed options remaining fall to about 112.1m. A small ongoing source of cash before the options expire on 31 December 2020.
1 Sept 2020drilling result▲ Good
Final logs lift Nomgon-3S net coal to 88 m. Nomgon-4S found 35 m of coal at only 202 m depth, shallower than planned, possibly due to local thrusting. Seismic processing is nearly done, and exploration drilling is due to begin this month.
1 Sept 2020investor presentation● Neutral
Webinar presentation recapping the Nomgon-1 discovery and four appraisal wells, totalling 1,887 m drilled and 276 m of coal. It plans four exploration strat-holes. Shows 692m shares, a market cap of $111m at 16c and cash of $3.3m. No new results.
31 Aug 2020capital raising announcement▲ Good
Holders applied to exercise 2,266,919 listed options at 6.79c, paying $153,924. The managing director linked this to the recent strong share price. The company had 118.6m listed options before the exercise, and they expire on 31 December 2020.
20 Aug 2020drilling result▲ GoodMajor
Nomgon-2's main seam averages 5.3 m3/t raw gas, matching Nomgon-1, and permeability tests were significantly better, up to 640 mD.m. Strat-hole Nomgon-S3 found about 78 m of coal on the northern limb. Seismic finished, and pilot production planning for 2021 began.
14 Aug 2020agm notice● Neutral
Notice that the 2020 AGM will be held virtually by Zoom on 18 September 2020 because of COVID-19. The annual report is available on the website. Administrative only.
3 Aug 2020other● Neutral
Appendix 4G governance checklist accompanying the annual report. Administrative filing with no new information on operations or finances.
3 Aug 2020annual report● Neutral
Annual report for the year to 30 June 2020. Covers the Nomgon-1 discovery, the May raising and Nomgon as the sole focus, and notes Bayanjargal's resignation. Summarised content repeats earlier announcements; financial statements were not visible in the text provided.
3 Aug 2020other● Neutral
Annual corporate governance statement, current at 31 July 2020. Describes board policies and notes departures from ASX recommendations suited to a small company. Administrative, no new operational information.
29 July 2020drilling result▲ GoodMajor
Nomgon-2 reached 550 m total depth, logging 91 m of net coal, 51 m in the main seam, more than Nomgon-1's 71 m. Early gas readings match Nomgon-1. Step-out strat-holes follow, starting with the northern limb. Gas and permeability figures are still to come.
28 July 2020quarterly activities report● Neutral
June quarter: the $3.3m May raising at 2c closed, with cash of $3.3m and no debt. Nomgon-2 spudded and seismic began in July. Exploration spend was $0.5m. Director participation is capped at $50,000, pending shareholder approval. Known results are repeated.
15 July 2020drilling progress report● Neutral
Nomgon-2 is drilling ahead and has already hit coals, with target depth expected in two to three weeks. Seismic is 49 of 106 km complete. The announcement also re-issues the Nomgon-1 results table at ASX's request, with the 8.9 m3/t figure added.
15 July 2020investor presentation● Neutral
Conference presentation repeating the Nomgon-1 results and the second-year program. It lists about 688m shares and pro-forma cash of $3.3m at 30 June. No new results.
14 July 2020director officer appointment● Neutral
Non-executive director Byambasaikhan Bayanjargal resigned for personal reasons. The board is now Chair Richard Cottee, MD Neil Young and director Stephen Kelemen. He had joined in October 2019.
10 July 2020drilling spud▲ GoodMajor
The Nomgon-2 appraisal core-hole spudded on 9 July, with total depth expected around end-July or early August. Seismic acquisition of 106 km began 30 June in the north-west of the licence. New coal outcrops have also been identified across the licence.
8 July 2020well test result▲ GoodMajor
Adsorption testing on one sample suggests the main Nomgon-1 seam is near fully gas saturated. Elixir says this could mean simpler, cheaper pilot production and less water to remove. A pilot test is aimed for 2021 if appraisal succeeds. Nomgon-2 spud is imminent.
26 June 2020well test result▲ GoodMajor
Final lab work on Nomgon-1 gives an average dry-ash-free gas content of 8.9 m3/t in the main seam, up from the earlier raw figure of over 5 m3/t. The 2020 program is now 106 km of 2D seismic, one core-hole and up to six strat-holes, with a contractor mobilising in July.
12 June 2020material agreement▲ GoodMajor
Elixir signed a non-binding MOU with MT Group, a Mongolian fuel retailer, to develop a small-scale LNG plant fuelling South Gobi coal trucks. It is the company's first offtake project. The MOU is non-binding and the company says initial modelling indicates high profitability.
26 May 2020capital raising announcement▲ GoodMajor
The Share Purchase Plan drew over $2.9m of applications against a $0.25m target, and was capped at about $1.65m. With the placement, total raised rises to $3.35m, assuming director participation is approved, funding more seismic and strat-holes.
11 May 2020capital raising announcement● Neutral
Offer booklet for the Share Purchase Plan: eligible holders can apply for up to $30,000 of shares at 2c, the same price as the placement, targeting $0.25m. Applications close 22 May. Terms follow the 6 May announcement; no new information.
11 May 2020investor presentation● Neutral
Presentation repeating the Nomgon-1 discovery and the planned second-year program: a Nomgon-2 appraisal core-hole plus three low-cost strat-holes, and 2D seismic, starting July. Shows pro-forma cash of $2.9m and about 600m shares assuming $2m raised. No new results.
6 May 2020capital raising announcement● NeutralMajor
Elixir raised $1.75m through a placement of 87.5m shares at 2c, a 20% discount to the 5-day VWAP, with a further $0.25m targeted via a Share Purchase Plan. Funds pay for delineation and exploration drilling from early July, feeding a maiden contingent resource report later in the year.
What it means for a shareholder
87.5m new shares at A$0.020 to raise about A$1.8m. That's 15% dilution: every existing holder's slice gets 15% smaller. If you held A$1,000 of shares (50,000 at the issue price), your slice goes from 0.00998% to 0.0085% of the company. To keep it you'd need 8,735 more shares - about A$175 at the issue price.
Create a free account to see this worked out for your own holding.
30 Apr 2020quarterly activities report● Neutral
March quarter: the Nomgon-1 gas discovery is reaffirmed, and the 2020 work plan and drilling contractor are approved. Final gas content results are due by mid-year, delayed by COVID. Moselle extension denial and Colorado lease expiry are confirmed. A ~US$580,000 restricted bond may be released, though this is highly uncertain.
