Past year: ▲ 43%(4.20c – 15.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
17 May 2023material agreement▲ GoodMajor
Elixir received an Advanced Finding that Daydream-2 qualifies for the R&D tax incentive, a refundable offset of 43.5% of eligible spend. This addresses the non-equity funding sought for Grandis; the company is evaluating non-recourse finance against it.
15 May 2023production update● NeutralMajor
Board expands the Nomgon pilot with a longer flow period and a third well, Nomgon-10. Nomgon-9 is back producing after workover at up to 76,000 scfd, below the earlier 200,000 scfd peak; Nomgon-8 is shut in as a monitor. Exploration drilling starts shortly.
11 May 2023investor presentation▲ Good
Gobi H2 update: bankable wind and solar data rated world class. Partner SB Energy was renamed Terras Energy after Toyota Tsusho bought 85%. The confidential AECOM pre-feasibility study supported the February Term Sheet; binding 50/50 joint venture still targeted later in 2023.
21 Apr 2023quarterly activities report▲ Good
March quarter report: pilot passed 100,000 then 200,000 scfd; data gathering continues to mid-year before approaching Government on commercial production. SB Energy Term Sheet signed; Daydream-2 on track for around year end. Cash figure is not in the excerpt.
29 Mar 2023regulatory community update▲ Good
Land access agreement signed with the landowner for the Daydream-2 well at Grandis. Drilling is still expected around end 2023, depending on rig availability and another operator's timing. Contractor interest is strong; a water well is to be drilled first.
24 Mar 2023production update● Neutral
Both pilot wells were shut in for pressure build-up, which showed good reservoir support, then reworked over about 10 days for routine clean-up. The pilot then runs another couple of months. 2023 drilling tenders are nearly complete.
22 Mar 2023investor presentation● Neutral
Brisbane conference presentation repeating known facts: pilot above 200,000 scfd, Grandis 395 Bcf, SB Energy partnership. Shows 912M shares, $14M cash and a 13c price (market cap $119M). Land access is described as nearly closed. No new results.
9 Mar 2023half year report● Neutral
Half-year to 31 December 2022: net loss $1.16M (prior period $0.83M); cash $13.8M, down from $22.7M at June. Notes the Grandis acquisition and 100,000 scfd milestone. Cottesloe Texas bond remains the only other asset.
1 Mar 2023production update▲ Good
Nomgon pilot passed 200,000 scfd of gas, up from 100,000 a month earlier, with water steady at 150 barrels per day. The 2023 drilling program is due to start next month. Pilot continues.
20 Feb 2023material agreement▲ GoodMajor
Elixir signed a Term Sheet with SB Energy, upgrading the June 2022 non-binding MOU. It gives an exclusive framework toward a binding 50/50 Gobi H2 joint venture, aiming for a pilot FEED entry decision by mid-2023.
14 Feb 2023investor presentation● Neutral
New Zealand investor presentation repeating known facts: 100,000 scfd pilot milestone, Grandis 395 Bcf, SB Energy partnership. Shows 912M shares, $14M cash at 31 December and a 15c price. No new results.
7 Feb 2023production update▲ GoodMajor
Nomgon pilot reached 100,000 scfd of gas with low water of 180 barrels per day, after 83 days. Nomgon-8 lags after a workover. Regulator approved a 2023 program of at least 9 wells, starting Q2. Advances the pilot toward a commercial-rate test.
31 Jan 2023quarterly activities report● Neutral
December quarter report: Nomgon pilot gas rate still growing, Grandis 395 Bcf booked, Gobi H2 PFS due within a month. Cash was about $14M, down from $19M in September. Non-equity funding for Daydream-2 is being pursued.
22 Dec 2022other● Neutral
Year-end review: first Mongolian gas flare at Nomgon, SB Energy hydrogen partnership and the Grandis acquisition (395 Bcf 2C). Aims to show a commercial pilot flow rate early 2023. Flags concern over new federal gas price powers ahead of Daydream-2. Repeats known facts.
20 Dec 2022drilling result▲ GoodMajor
The 2022 drilling program is complete, with 19 wells drilled (11,576 m). The Nomgon pilot is flowing with promising early rates, 99% methane gas and fresher water; stable flow rates are expected early 2023. Big Slope-6 hit 17 m of coal at over 8 m3/t, drilled in under 10 days.
12 Dec 2022security holder rights change● Neutral
Cleaning notice for the issue of 2,000,000 performance rights on 12 December 2022, approved at the AGM (those rights were for Neil Young). Administrative.
18 Nov 2022investor presentation● Neutral
MD's AGM presentation repeating known facts: Queensland contingent resources, Nomgon pilot gas being flared and Gobi H2 with SB Energy. Shows 912M shares and $19M cash at 30 September. No new results.
18 Nov 2022agm notice● Neutral
Proxy voting summary for the 2022 AGM. Administrative; results are in the formal results announcement.
18 Nov 2022agm notice● Neutral
AGM results: all seven resolutions passed on a poll. The remuneration report got 84.7% in favour. The 2,000,000 performance rights for MD Neil Young got 74.8%, the lowest support. Chairman Cottee was re-elected with 99.8%.
18 Nov 2022admin correction● Neutral
Updated Chairman's AGM address, adding that the early gas reflects fully gas-saturated coals. Otherwise unchanged from the earlier version.
18 Nov 2022other● Neutral
Chairman's AGM address highlighting the Nomgon gas breakthrough, the SoftBank-subsidiary hydrogen MOU and the Queensland contingent resource, with the first appraisal well expected next year. Repeats known facts.
18 Nov 2022production update▲ GoodMajor
Pumping began at the Nomgon pilot and gas broke through within days, now being flared, which the company calls a first for Mongolia. One of the two wells is slugging and may need a workover. Big Slope-3 recorded 9.2 m3/t gas content, the highest in the PSC. Resolves the question of whether the pilot would flow gas.
17 Nov 2022agm notice● Neutral
Notice that the 18 November AGM will be live-streamed by Zoom. Viewers cannot vote or ask questions. Administrative.
10 Nov 2022resource reserve update▲ GoodMajor
ERCE certified an initial 2C contingent resource of 395 Bcf recoverable gas (1C 93, 3C 1,493 Bcf) plus 3.6 MMbbl condensate at ATP 2044, now named the Grandis Gas Project. Moves the permit bought in August from prospective to contingent resource. Daydream-2 well planned for Q4 2023.
10 Nov 2022investor presentation● Neutral
Noosa conference presentation repeating known facts: the new Queensland contingent resources, the imminent Nomgon pilot and Gobi H2 with SB Energy. Shows 912M shares, $19M cash at 30 September. No new results.
31 Oct 2022quarterly activities report● Neutral
September quarter report: ATP 2044 acquired, the Nomgon pilot is on track to flow gas in coming months, and Gobi H2 pre-feasibility work with SB Energy continues, with a decision on a formal partnership expected early 2023. Cash was $19M at quarter end, down from $22.7M in June.
17 Oct 2022admin correction● Neutral
The AGM letter was relodged to correct a typographical error (the notice date). The content is otherwise unchanged. Administrative only.
17 Oct 2022agm notice● Neutral
Shareholder letter on the 18 November 2022 AGM in Adelaide, with notice of the right to receive documents electronically or on paper. Administrative; no business information.
12 Oct 2022drilling result▲ Good
Nomgon-8, the second pilot well, was drilled to 562 m in 10 days (a company record), with ~51 m of coal. Both pilot wells are now drilled; pumping is expected within a month. Big Slope-2 hit ~38 m of coal with gas readings above 7 m3/t, the highest so far in the PSC.
30 Sept 2022other● Neutral
Elixir publishes a baseline ESG report, setting a starting point against the World Economic Forum's 21 core disclosures. It describes governance and board makeup (one full-time Australian employee, the MD). No new business or financial information.
