Past year: ▲ 43%(4.20c – 15.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
1 Nov 2018asset acquisition disposition▲ Good
Elixir completed its steps to settle the 35,423-acre Alaskan lease purchase. The US$653,859 balance is in escrow pending Bureau of Land Management recording, with a cash-backed bond being posted. GOH closing now depends only on the 28 Nov AGM.
24 Oct 2018quarterly activities report▲ Good
September quarter: Mongolian PSC awarded and signed, GOH acquisition on track for late November subject to shareholder approval, and the Alaskan deal due by 31 October. Cash about $3.5m after the $1.65m raise, no debt. AGM set for 28 November.
28 Sept 2018other● Neutral
Appendix 4G and corporate governance statement for the year to 30 June 2018, current as at 28 September 2018. Administrative; no substantive new information.
28 Sept 2018annual report● Neutral
2018 annual report. Chairman confirms the PSC is signed, the GOH option runs to 30 Nov 2018 and shareholders must approve the 79m consideration shares again. Alaska deal expected to close by 31 Oct; Moselle is called non-core and expires January 2019.
19 Sept 2018capital raising announcement● Neutral
Prospectus for 1,000 shares at $0.05, issued only to allow secondary trading of the 33m placement shares (about $1.65m) announced 12 September. No new money of substance is raised.
What it means for a shareholder
1,000 new shares at A$0.050 to raise about A$50. That's 0.000452% dilution: every existing holder's slice gets 0.000452% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.00903% to 0.00903% of the company. To keep it you'd need 0 more shares - about A$0 at the issue price.
Create a free account to see this worked out for your own holding.
18 Sept 2018regulatory community update▲ GoodMajor
The Nomgon IX CBM PSC was signed in Ulaanbaatar on 18 September 2018. Field mapping starts now, seismic is planned for early Q2 2019 and drilling for Q3/Q4 2019. Golden Horde acquisition targets mid-November, subject to shareholder approval at the early-November AGM.
13 Sept 2018investor presentation● Neutral
Good Oil conference presentation repeating the 12 September news: Golden Horde (79m shares), 35,423 Alaskan acres, $1.6m raise giving about $4m cash, and initial Mongolian drilling targeted for Q3/Q4 2019. No new facts.
12 Sept 2018asset acquisition disposition▲ GoodMajor
Mongolia's Cabinet approved the Nomgon IX CBM PSC award to Golden Horde, ending months of delay; the GOH option now runs to 30 Nov 2018 with a $250,000 convertible loan to GOH. Elixir also signed to buy 35,423 Alaskan acres (US$803,859 back costs plus 5% royalty) and raised $1.65m.
12 Sept 2018listing compliance notice▲ Good
ASX lifted Elixir's trading suspension from 12 September 2018 after the company released its Golden Horde, Alaska and capital raising announcement. Ends the suspension running since 14 June.
4 Sept 2018listing compliance notice▲ Good
Elixir sought a final suspension extension to 18 September 2018. Informal word indicates positive progress on Mongolian approval of the Nomgon IX PSC for Golden Horde; formal notice awaited, and talks on terms expected to conclude within two weeks.
16 Aug 2018listing compliance notice● Neutral
Elixir asked to extend the voluntary suspension to 4 September 2018. Talks on restructuring the Golden Horde deal are described as not finalised but nearing completion. Administrative.
6 Aug 2018listing compliance notice● Neutral
ASX re-applied the suspension on Elixir's securities after an internal platform upgrade and confirmed they remain suspended. Administrative; no new information about the company.
30 July 2018quarterly activities report▼ Bad
June quarter: PSC still not awarded, and Naadam holidays have stalled approval further. Elixir and Golden Horde are renegotiating the acquisition, with no agreement yet, and Elixir is pursuing other new ventures. Cash about $2.5m, no debt; shares remain suspended.
26 July 2018listing compliance notice▼ BadMajor
Suspension extended to 16 August 2018. Because of the long Mongolian approval delays, Elixir is now negotiating with Golden Horde's shareholders to restructure the acquisition, a shift from the original 79m share terms.
4 July 2018listing compliance notice● Neutral
Elixir requested a further extension of the voluntary suspension to 26 July 2018, still awaiting an announcement on the Nomgon IX PSC. Administrative.
20 June 2018listing compliance notice● Neutral
Elixir requested an extension of the voluntary suspension to 4 July 2018, still pending an announcement on the Nomgon IX PSC status and award timing. Administrative.
14 June 2018listing compliance notice▼ BadMajor
Elixir shares were placed in voluntary suspension at the company's request on 14 June 2018, pending an announcement on the status and timing of the Nomgon IX PSC award to Golden Horde.
5 June 2018asset acquisition disposition● NeutralMajor
Elixir signed an MOU for an option, to 30 September 2018, to buy the company holding the conventional oil and gas rights over the Nomgon IX area. Consideration is a production royalty and a deferred payment, plus about US$800,000 of fees; commitments about US$26.8M. The CBM award was withdrawn at two Cabinet meetings.
9 May 2018joint venture update▼ Bad
PSC award was deferred again, as the Cabinet sought more information on Elixir's deal and on other PSCs. Elixir expects it to be tabled again in coming weeks but gives no guarantee. Management is travelling to Mongolia to push it along.
30 Apr 2018quarterly activities report▼ Bad
March quarter: Golden Horde deal now hinges only on Mongolian Cabinet approval of the PSC, which was deferred at 4 and 25 April meetings. Moselle extension application lodged 5 April. Cash about $2.7m, no debt. The Q1 award expectation was missed.
27 Apr 2018other● Neutral
Updated corporate governance statement as at 18 April 2018. Administrative; no substantive new information.
13 Mar 2018half year report● Neutral
Half-year to 31 December 2017: loss $411,566 (prior period $345,669). Cash $2,786,002, no debt, up from $1,893,285 after the $1.6m placement. Report restates the Golden Horde option and Moselle renewal.
15 Feb 2018other● Neutral
Administrative notice: Elixir moved its registered office and principal place of business to 1202 Hay Street, West Perth. Other contact details unchanged.
30 Jan 2018quarterly activities report● Neutral
December quarter: Golden Horde deal progressing with several conditions met, and technical due diligence completed. PSC execution still expected Q1 2018 but unconfirmed by Cabinet. Cash about $2.8m, no debt. Moselle extension application being prepared.
23 Jan 2018joint venture update▲ Good
Brisbane technical workshop held 19 January with CBM experts, who reaffirmed the large-scale potential of the Mongolian project. Management says it completes Elixir's technical due diligence on Golden Horde. Field mapping is due to finish mid-February; PSC award is still awaited.
23 Jan 2018investor presentation● Neutral
Presentation repeating the Mongolian deal and workshop outcomes: 79m share option to 30 September 2018, PSC award expected Q1 2018, two wells targeted Q3 and Q4 2018. Minimum work programme US$3M over two years; US$5-7M larger programme being considered. Little new.
16 Jan 2018regulatory community update▲ Good
Moselle permit (100% Elixir) confirmed renewed to 20 January 2019 after the four-year delay. Elixir will apply for a three-year extension to January 2022 and restart exploration and farm-out efforts. Legal remedies for lost time remain available.
27 Dec 2017regulatory community update▲ GoodMajor
French authorities renewed the Moselle permit on 23 December 2017 until 20 January 2019, ending the four-year renewal dispute in Elixir's favour. Elixir will seek advice on remedies and compensation, and a possible extension for the delay. France has banned new licences.
12 Dec 2017joint venture update▲ Good
Shareholders overwhelmingly approved the Golden Horde acquisition at the AGM. Mongolian discussions indicate the contract award remains on track for Q1 2018; talks started with a local drilling contractor and desktop studies target early March 2018.
30 Nov 2017investor presentation● Neutral
AGM presentation repeating the Mongolian deal: award expected Q1 2018, initial studies done by end Q1 2018, drilling contracts early Q2 and pilot drilling mid-2018. No new material facts.
