30 Sept 2022admin correction● Neutral
Annual report relodged at the auditor's request to fix a typographical error in the auditor's report footnote (BDO Australia (SA) Pty Ltd changed to BDO Audit Pty Ltd). No change to content.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Sept 2022other● Neutral
Appendix 4G, a routine checklist pointing to the corporate governance disclosures for the year to 30 June 2022. Administrative; no substance.
30 Sept 2022other● Neutral
2022 Corporate Governance Statement, current at 27 September 2022 and board-approved. Describes policies and notes recommendations not followed given the company's size. Administrative; no new business information.
29 Sept 2022annual report● Neutral
Annual report for the year to 30 June 2022. Chairman says over $20M cash at year end, pilot production testing is imminent, and ATP 2044 was acquired after year end. Financial statements are not in the extract.
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 2022quarterly activities report● Neutral
June quarter: SB Energy MOU signed; two pilot production wells still on track to spud in August. Tim-1 and Bulug-Suuj-1 found new sub-basins, three rigs drilling, but progress has been slow at times. Yangir-4 did not reach planned depth. Cash not shown in extract.
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.
29 Apr 2022quarterly activities report● Neutral
March quarter: Tim-1 found a new sub-basin and the extended pilot is on track for mid-year, with pilot equipment ordered and on its way. Gobi H2 progressed. Mostly repeats earlier announcements; cash figure not shown in the extract.
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.
31 Jan 2022quarterly activities report● Neutral
December quarter: 17 wells drilled in 2021, 65% intersecting coal, with the Nomgon-6 test feeding the 2022 pilot. Gobi H2 hydrogen work progressed through MOUs. Mostly repeats earlier announcements (text truncated).
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.
29 Oct 2021quarterly activities report▲ Good
September quarter: Nomgon-6 flowed gas and water, Richcairn became the fourth coal sub-basin, and a hydrogen MOU was signed. The 2022 pilot approvals are to be lodged by year-end. Mostly repeats earlier announcements; cash figure not shown in the extract.