17 Aug 2021other● Neutral
Appendix 4G governance checklist lodged with the annual report, pointing to the corporate governance statement on the website. Administrative only.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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.
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.
11 Mar 2021half year report● Neutral
Half-year to 31 December 2020: net loss of $990,638 (prior period $1.21m loss) and cash of $9.2m, up from $3.3m at June 2020. The 2021 work program has been approved by the regulator, including a planned pilot production test.
8 Mar 2021drilling spud▲ Good
The Yangir-2 core-hole spudded on 6 March, starting the 2021 field program. It follows Yangir 1S, which found 27 m of visibly bubbling coal in 2020. Mongolia has eased COVID restrictions. Results are still to come.
18 Feb 2021price query● Neutral
ASX queried a jump in Elixir's price from 17c to 23c with heavy volume on 18 February. The company said it knew of no undisclosed information and pointed to its 15 February 2021 work program (13 wells, 200 km seismic, pilot test) as the explanation.
15 Feb 2021investor presentation▲ Good
Presentation of the 2021 work program: 13 wells, 200 km of 2D seismic and one pilot production test starting in the second half of 2021, subject to approvals. Cash was $9.37m at 31 December 2020. The maiden contingent resource will focus on the Nomgon sub-basin.
22 Jan 2021other● Neutral
1,158,846 shares issued to pay an advisor's fee, lifting shares on issue to about 811.2m. 1,250,000 incentive options (10c, expiring 2023) held by a former director were cancelled. Minor housekeeping.
5 Jan 2021capital raising announcement▲ GoodMajor
The final 5,949,622 listed options were exercised at 6.79c, raising $403,979; 392,424 expired unexercised on 31 December. Shares on issue are about 810.0m. The option exercise campaign closes having raised about $8.02m in total.
31 Dec 2020capital raising announcement▲ Good
10,096,906 listed options exercised at 6.79c, raising $685,580. Shares on issue rise to about 804.0m, with about 6.3m options left on the final day. Total raised from exercises is about $7.62m.
29 Dec 2020capital raising announcement▲ Good
23,128,772 listed options exercised at 6.79c, raising $1,570,444. Shares on issue rise to about 794.0m, with about 16.4m options left. Total raised from exercises is about $6.93m. Option trading on ASX has stopped ahead of expiry.
23 Dec 2020capital raising announcement▲ Good
20,827,365 listed options exercised at 6.79c, raising $1,414,178. Shares on issue rise to about 770.8m, with about 39.6m options left before 31 December expiry. Total raised from exercises is about $5.39m.
21 Dec 2020capital raising announcement▲ Good
1,650,914 listed options exercised at 6.79c, raising $112,097. Shares on issue rise to about 750.0m, with about 60.4m listed options left before expiry on 31 December 2020. Total raised from exercises is about $3.95m.
15 Dec 2020security holder rights change● Neutral
Reminder notice to holders that listed options (6.79c) expire 31 December 2020. Shares last traded at 11.5c on 11 December. Repeats Neil Young's earlier comments on escrowed shares and no plans to sell. No new information.
14 Dec 2020capital raising announcement▲ Good
15,104,593 listed options were exercised at 6.79c, raising $1,025,602. Shares on issue rise to about 748.3m, with about 62.0m listed options remaining before expiry on 31 December 2020. Total raised from option exercises reaches about $3.8m.
9 Dec 2020resource reserve update▲ GoodMajor
Independent auditor ERCE lifts Nomgon IX prospective resources for the first time since exploration began. Unrisked best case rises to 48 Tcf, and the risked best case rises 92% to 14.6 Tcf from 7.6 Tcf in 2018. Chance of success is now 30%. A maiden contingent resource is still to come.