Past year: ▲ 88%(15.5c – 32.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
19 Apr 2016resource reserve update▲ Good
Fitzroy passes on Buru's independent review of the Laurel Formation tight gas on EP 371, where it holds a royalty. It gives no figures itself; it notes 90.7M shares, about 1,100 holders and cash of about $9.5M. Cash is down from $11.7M at December 2014.
20 Oct 2015quarterly activities report▼ BadMajor
September quarter: no royalties received. Fitzroy decided not to take up EP 390 after Apache's successor withdrew and the Commodore 1 well found no significant hydrocarbons, so the permit lapses. Ungani production licences L20 and L21 were granted. Text truncated.
20 Oct 2015annual report● Neutral
Annual report for the year to 30 June 2015 repeats the loss of $0.78M versus $0.56M, with costs of $1.35M and income of $0.56M. It restates the passive royalty-holder model and the three-director board. Text truncated; no new figures beyond the earlier release.
23 Sept 2015annual report▼ Bad
Year to 30 June 2015: loss of $0.78M versus $0.56M, with costs of $1.35M and income of $0.56M. Cash fell $1.6M, including $0.90M put into other listed companies, a new move beyond royalties. Text truncated.
23 Sept 2015other● Neutral
Appendix 4G, the governance disclosure form filed with the annual report. It points to the corporate governance statement and has no new substance.
23 Sept 2015other● Neutral
Corporate governance statement for FY2015. It notes the company has three directors and no executives or management, so the board does all the management roles. Governance disclosure only.
15 May 2015admin correction● Neutral
The share registry, Boardroom, changes its Sydney address from 18 May 2015. Administrative only.
15 Apr 2015regulatory community update▼ BadMajor
The WA Supreme Court refused Fitzroy's claim for a gross royalty and ordered it to pay the defendants' costs. This ends the dispute against Fitzroy, and royalties continue on the existing terms. The amount of costs is not stated.
15 Apr 2015regulatory community update▼ Bad
Buru confirms the court dismissed Fitzroy's claim and upheld Buru and Mitsubishi's reading of the deed. Fitzroy keeps a 2% royalty on wellhead value and pays their costs. Buru sees a clear path to developing Ungani. Repeats Fitzroy's own announcement.
13 Mar 2015half year report● Neutral
Half-year to 31 December 2014: loss of $184,000 (the text also says $0.190M), versus $392,000 a year earlier, on revenue of $364,000. Cash was $11.7M and net assets $12.0M. Royalty interests are not carried on the balance sheet. Text truncated.
7 Jan 2015regulatory community update● Neutral
The Supreme Court royalty case against Buru and Mitsubishi is listed for a two-day trial on 14-15 April 2015, following the failed December mediation. This fixes a date for resolving the gross versus net 2% royalty dispute.
19 Dec 2014regulatory community update● Neutral
The 10 December mediation did not resolve the royalty dispute. The Court ordered trial preparation, with trial no earlier than 30 March 2015. Fitzroy plans to keep talking commercially with the other parties, with no guarantee of success.
21 Nov 2014other● Neutral
AGM address: court-ordered mediation was held 27 October with another set for 10 December, and the buy-back remains unused until mediation is resolved. ASX is querying the company's high cash relative to assets under Listing Rule 12.3. Fitzroy is still seeking new investments with RSI.
20 Oct 2014annual report● Neutral
The 2014 annual report repeats the statutory accounts: $0.56M loss, $1.0M operating costs and a board of McComas, Thomas and Clyne. Includes a remuneration report. Text truncated.
26 Sept 2014annual report▼ Bad
Year to 30 June 2014: loss of $0.56M versus a $9.0M profit the year before, on $1.0M operating costs and $0.51M operating income. Cash rose by $8.3M, mainly from the EGL UK sale. Hempel left the board and Clyne joined. Text truncated.
30 June 2014director officer appointment● Neutral
Executive Director Sebastian Hempel leaves the board on 30 June 2014 after nearly five years. Company Secretary Justin Clyne fills the vacancy from 1 July 2014.
13 May 2014capital raising announcement▲ GoodMajor
Fitzroy announced an on-market buy-back of up to 9.07M shares (just under 10%), about $3.4M at 38 cents, from 30 May 2014 to 30 May 2015. It says it has more capital (about $12.0M cash) than it can invest in royalty deals in the next 12 months.
14 Apr 2014admin correction● Neutral
Sebastian Hempel retired as joint Company Secretary (remaining a director), the share registry moves from Computershare to Boardroom from 19 May 2014, and the principal place of business moved within Sydney. Administrative only.
14 Mar 2014half year report▼ Bad
Half-year to 31 December 2013: loss of $392,000, with no royalties received as Ungani only restarted late in the period. Cash was $12.2M and net assets $12.3M after the EGL UK sale. Company also holds 1.33M Columbus Energy shares. Text truncated.
3 Mar 2014director officer appointment● Neutral
Justin Clyne was appointed joint Company Secretary from 1 March 2014. Administrative appointment.
24 Feb 2014material agreement● NeutralMajor
Fitzroy hired Royalty Stream Investments for an initial 12 months, non-exclusive, to find and assess new royalty and resource investments. Company reports about $12m cash and 90.7m shares. This starts the search to deploy the EGL UK sale proceeds.
12 Dec 2013regulatory community update▼ Bad
The four defendants filed their defence and counterclaim, asserting the deed provides, or should be rectified to provide, for a net royalty. The company believes the case may be heard in the third quarter of 2014.
10 Oct 2013annual report● Neutral
The 2013 annual report repeats the statutory accounts: $9.0M profit, mainly from the EGL UK demerger, and a $5.4M write-down of the EGL UK stake to 12 cents. Board is McComas, Hempel and Thomas. Text truncated.
27 Sept 2013asset acquisition disposition▲ GoodMajor
Sale of all 75,656,848 EGL UK shares at $0.12 each ($9.079M) completed, following shareholder approval on 24 September 2013. Cash was received in full. FZR no longer holds its 25% EGL UK stake, resolving that thread.
16 Sept 2013admin correction● Neutral
Registered office moved to Suite 2, Level 11, 50 Margaret Street, Sydney. Administrative notice only.
9 Sept 2013annual report● Neutral
Year to 30 June 2013 shows a $9.0M profit, mainly from the EGL UK demerger gain, with a $5.4M write-down of the EGL UK stake to $0.12 a share. Operating income was $0.26M. Royalty income is expected to stay low through the first half of next year.
29 Aug 2013other● Neutral
The no-shop exclusivity period with the EGL UK share buyers was extended to 24 September 2013 from one month after 11 August, to match the general meeting date.
27 Aug 2013regulatory community update● Neutral
Buru, a defendant, says its royalty calculation is correct, rejects Fitzroy's claims and will defend the proceedings. It says the case is not material to its forward program.
26 Aug 2013regulatory community update● NeutralMajor
Filed a Supreme Court of WA action against Buru, two Mitsubishi subsidiaries and Mitsubishi seeking a declaration it is owed a 2% gross royalty without deductions. Payments to date of $98,370 were calculated on a net basis. This escalates the dispute open since October 2012.
14 Aug 2013other● Neutral
The $200,000 deposit due 13 August on the EGL UK sale had not yet arrived. The buyers supplied evidence of an international transfer from London. Administrative update.
