Past year: ▲ 43%(4.20c – 15.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Sept 2022drilling result▲ Good
Nomgon-9, the first pilot well, was drilled to 488 m in 11 days (an Elixir record), with ~55 m of coal logged. Nomgon-8 spuds next; pumping is expected in about a month. Management says meaningful gas could come by Christmas, though timing is uncertain.
12 Sept 2022drilling spud▲ GoodMajor
First Nomgon pilot well (Nomgon-8) spudded on 10 September, with the two-well program expected to take under 30 days; gas timing is uncertain. Big Slope-1 cored ~10 m of coal with visible gas, a possible new discovery. Orio-1 and Yangir-5 missed target depth. Major Drilling awarded a fourth rig.
6 Sept 2022investor presentation● Neutral
Good Oil conference presentation covering Mongolian CBM, Gobi H2 and the new Queensland permit. Shows 912M shares, $23M cash at 30 June (unaudited) and the pilot test as imminent. No new results.
29 Aug 2022investor presentation● Neutral
Presentation accompanying the ATP 2044 acquisition: 1,000 km2 permit, A$500,000 plus 20,703,934 shares and a 3% liquids royalty, mean prospective resources 3.3 Tcf and 75 MMbbl condensate. Plans Daydream-2 appraisal well in 2023, subject to rig availability. Repeats the acquisition announcement.
29 Aug 2022asset acquisition disposition▲ GoodMajor
Elixir bought 100% of Queensland gas permit ATP 2044 (Taroom Trough, ~35 km from Wallumbilla) for A$500,000, 20.7M shares (~A$3M) and a 3% royalty on liquids. Mean unrisked prospective resource is 3,265 Bcf; a well is aimed for 2023. Marks a new Australian asset beyond Mongolia.
24 Aug 2022joint venture update▲ Good
Gobi H2: a year of wind data shows a 38-39% capacity factor, and a water well flowed 0.5 L/s, about half the planned pilot's need. Elixir engaged AECOM for a pilot pre-feasibility study; the SB Energy MOU work continues. No funding committed.
29 July 2022drilling result● Neutral
Venetian-1 found another coal-bearing sub-basin (882 m deep, 6.5 m coal and carbonaceous siltstone). Pilot wells due to spud in August with all equipment in Mongolia. Bulag Suuj-2 and Yangir-4 drilling were slower than expected due to mechanical issues; Orio-1 and Yangir-5 spudded.
26 July 2022investor presentation● Neutral
Port Jackson presentation adds a Gobi H2 vision: 500,000 tonnes a year of hydrogen from 6.3 GW of wind and solar and 5 GW of electrolysers. Capital figures repeat earlier ones (892M shares, $25M cash at 31 March). Aspirational; no new results.
6 July 2022admin correction● Neutral
Re-release of the 20 June SB Energy MOU announcement, correcting the partner's name from SoftBank Energy Corp to SB Energy Corp. No change to the terms.
22 June 2022drilling result▲ GoodMajor
Bulag Suuj-1S found 21 m of coal, opening a further potential sub-basin; an appraisal well follows. Yangir-4 hit fractured-coal drilling problems and is being re-drilled. 322 km seismic is complete. First pilot well now due to spud around end of August.
20 June 2022material agreement▲ GoodMajor
Elixir signed a non-binding MOU with SoftBank-owned SB Energy (named SoftBank Energy in this release) for the Gobi H2 hydrogen project: a two-year framework, terminable on 30 days notice, each party at its own cost. It aims at a small pilot first. No funding committed.
14 June 2022investor presentation● Neutral
QUPEX conference presentation repeating the 2022 program, pilot design and Gobi H2 plans. Shows 892M shares and $25M cash at 31 March (unaudited). No new results.
5 May 2022drilling progress report● Neutral
Tim-2 reached 1,020 m, Elixir's deepest Mongolian well, but found only 3 m coal plus 5 m silty coal, thinner than Tim-1S, which Elixir attributes to local faulting. Yangir-4 spudded; Bulag Suuj-1S next. 223 of 322 km seismic acquired.
31 Mar 2022drilling result▲ GoodMajor
Tim-1S, south of Tavan Tolgoi, discovered a new coal-bearing sub-basin: 804 m deep, 16 m coal plus 30 m silty coal (46 m total). Tim-2 appraisal is now drilling about 200 m downdip. Two more drilling contractors signed; Major Drilling to drill the pilot wells.
23 Mar 2022investor presentation● Neutral
Brisbane conference presentation repeating the 2022 plan: pilot, 22 exploration wells, 322 km seismic, and the Gobi H2 10 MW pilot goal. Shows 892M shares and about $28M cash at 31 Dec (unaudited). No new results.
11 Mar 2022half year report● Neutral
Half-year to 31 Dec 2021: net loss $831,768 (vs $990,638), cash $28.36M (June 2021: $32.78M). 17 wells drilled in 2021, 65% hit coal. 720,000 shares issued for Solar Ilch; no other capital changes. Confirms figures already known.
28 Feb 2022drilling spud▲ Good
Elixir spudded Tim-1S, the first of a planned 24-well 2022 program using three drilling companies, south of the Tavan Tolgoi coal mining area (planned depth ~700 m). The 2-well extended pilot is still on track for mid-year drilling.
28 Jan 2022investor presentation● Neutral
Port Jackson presentation outlining the 2022 plan: extended pilot with two wells, 22 exploration wells, 322 km of seismic and a 10 MW hydrogen pilot goal. States cash of $28.4M at 31 December (slide text says 2022, apparently a typo). No new results.
18 Jan 2022material agreement▲ Good
Elixir signed an MOU with Mongolia Green Finance Corporation to support project finance for a green hydrogen pilot, now branded 'Gobi H2'. Legal analysis was delivered to the Ministry of Energy, and a water advisory agreement signed with Erdene. MOUs are non-binding; no funding committed.
4 Jan 2022drilling result● Neutral
The 2021 drilling program finished with 17 wells, 65% hitting coal. Richcairn-4 found 20 m of coal; Bag-1S (779 m) found none, and Nomgon-7S became a pilot monitoring well. This lowers the 76% success rate stated on 9 Dec. Elixir won Mongolia's 'Investor of the Year' again.
9 Dec 2021regulatory community update▲ GoodMajor
Plans for the 2022 long-term pilot production project were lodged with the regulator: two production wells, drilling in 1H and testing in 2H 2022. Nomgon-6 gas is about 90% methane. 17 wells drilled in 2021, 76% hit coal at that date; 528 km seismic done; Richcairn West-4S found no coal.
22 Nov 2021asset acquisition disposition▲ GoodMajor
Elixir's subsidiary GOH Clean Energy acquired Solar Ilch LLC, owner of an undeveloped 50 MW solar project in the South Gobi, for 720,000 Elixir shares. It extends the hydrogen strategy. Neil Young also became Deputy Chairman of a Mongolian hydrogen council; engineering and commercial studies launched.
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.
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.
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.
