Past year: ▼ 62%(2.10c – 5.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
11 June 2020joint venture update▼ BadMajor
Gold Basin structure is now formally in dispute. A Canadian private company has acquired all of Aurum, and NEM issued a breach notice calling Greenvale's side a defaulting shareholder, which Greenvale calls frivolous. Greenvale's share of a roughly US$4M budget would be about US$1M.
10 June 2020regulatory community update▲ Good
Greenvale sets out a preliminary Alpha bulk-sampling plan at one location, costing up to $300,000. The mines department accepted the SRK program and confirmed the licence is in good order. This resolves the earlier commitment question; funding is still being arranged.
7 May 2020other▲ GoodMajor
After an SRK review, Greenvale shifts Alpha toward a mix of petroleum, bitumen and active carbon products, with bulk sampling from trenches instead of only core drilling. Preliminary feedback from the mines department is that the program can proceed. A local asphalt producer has shown interest in about 20,000 tonnes a year of bitumen.
24 Apr 2020admin correction● Neutral
Greenvale reissues the March quarter Appendix 5B because the earlier one used an old template. It says no amounts changed. Administrative only.
24 Apr 2020quarterly activities report● Neutral
March 2020 quarter: no field work at Alpha or Gold Basin. A placement of 12.9M shares at 1.4 cents raised $180,000 on 13 March. Gold Basin structure still awaits Aurum's response; Greenvale is reviewing diversification opportunities and still plans a rights issue. Operating outflow was $72,000.
3 Apr 2020joint venture update▼ Bad
Greenvale says the Canadian-bound buyer's deals for Aurum and NEM are not complete; 'binding' meant agreed terms only, contradicting its 28 January announcement. Ownership stays Aurum 49.99%, NEM and Greenvale about 25% each. Aurum rejected the proposed structure.
16 Mar 2020admin correction● Neutral
Greenvale withdraws its 13 March market update and reissues it with corrections. The reissue says Gold Basin structure is still being finalised and Alpha plan is due to Queensland's mines department by 31 March 2020.
13 Mar 2020joint venture update▼ BadMajor
Aurum's representative rejected Greenvale's proposed Gold Basin structure and has not replied. Greenvale believes NEM may be a defaulting shareholder, which could let it buy NEM's 49.99% at 80% of fair value. Alpha's spending is below the minimum; plan due to the mines department by 31 March 2020.
13 Mar 2020half year report● Neutral
Half-year to 31 December 2019: loss $203,974 (prior year $215,152); net assets $2.13M. After balance date, 14.2M shares were issued raising $200,000. Alpha spending fell short of the minimum commitment and Gold Basin ownership is unresolved.
9 Mar 2020director officer appointment● NeutralMajor
Julian Gosse, director of 6.78% shareholder Font SF, joins the board as a non-executive director. Justin Dibb and Phillip Shamieh resigned, so the board is reshaped around a major shareholder's representative (inference).
28 Jan 2020joint venture update● NeutralMajor
An unlisted Canadian company says it has agreed to buy the NEM and Aurum shareholdings, giving it about 75% economic ownership of Gold Basin. Greenvale's stake stays 50.01% of GGB, about 25% economic interest, with 2 of 3 directors.
22 Jan 2020quarterly activities report● Neutral
December 2019 quarter: Gold Basin resource repeated; Aurum has not yet agreed the ownership structure. A placement of up to $300,000 is on hold, with $90,000 held in trust as deposits. Alpha's spending-variation request is undecided, with a two-month extension given.
17 Jan 2020listing compliance notice▼ Bad
Greenvale answered an ASX query over a late director share-trade notice for Leo Khouri's 27 December 2019 change. It blamed staff leave over Christmas and says its procedures are adequate. Compliance matter only.
22 Nov 2019agm notice● Neutral
General meeting results: all five resolutions passed on a show of hands. They covered the remuneration report, re-election of Dibb and Gemell, the 10% placement capacity and approval to issue up to 30 million shares.
13 Nov 2019asset acquisition disposition● NeutralMajor
The board decided not to use its option to buy the partner's 49.99% of Greenvale Gold Basin, despite the new resource. Greenvale stays at 50.01% and will keep funding alongside partners. This closes the buyout thread.
11 Nov 2019listing compliance notice● Neutral
ASX again queried cash: $117,000 at quarter end against a $90,000 expected outflow. Greenvale says it plans a rights issue of about $1.2M, with directors supporting about $450,000, and may also use its placement capacity. It says it complies with disclosure rules.
22 Oct 2019resource reserve update▲ GoodMajor
Gold Basin maiden JORC Inferred Resource: 299,800 oz at 1.12 g/t (0.5 g/t cut-off), or 360,900 oz at 0.84 g/t (0.25 cut-off), at Cyclopic and Stealth. It is shallow (0-50m) and open in all directions. This resolves the long-delayed resource.
21 Oct 2019quarterly activities report▼ Bad
September 2019 quarter: Queensland's mines department declined Greenvale's request to vary Alpha spending commitments, citing the moratorium on in-situ oil shale processing; response due 5 November. Gold Basin resource is imminent. A rights issue is planned. Operating outflow was $229,000; cash was $117,000.
18 Oct 2019other● Neutral
ASX paused trading in Greenvale shares pending a further announcement. No reason is given in the notice.
25 Sept 2019admin correction● Neutral
Greenvale corrects its annual report, which left out one substantial shareholder. Font SF Pty Ltd holds 5,643,185 shares, notified December 2018. Total shares are about 93.36M. Administrative only.
20 Sept 2019annual report● Neutral
2019 annual report. The chairman says SRK's Alpha result (best 15.4 MMbbl) is not likely a 'company maker', and Greenvale will seek to cut Alpha's spending commitments. Gold Basin resource is nearly done, and a capital raising is proposed.
20 Sept 2019annual report● Neutral
Appendix 4G for the year to 30 June 2019, lodged with the annual report. It points to the corporate governance statement on pages 15-28 of the annual report. No new business information.
13 Sept 2019resource reserve update● Neutral
Gold Basin's maiden JORC resource is almost complete and expected within two weeks, covering the Cyclopic, Stealth and PLM deposits with recent and historical drilling. The date has slipped from the end of June. No resource figures yet.
9 Aug 2019listing compliance notice▼ BadMajor
ASX queried cash of $360,000 against a $282,000 expected outflow next quarter. Greenvale replied it expects continued negative cash flow, has appointed lawyers for a prospectus capital raising, and says directors and large holders will support it. No raise size is given.
30 July 2019quarterly activities report● Neutral
June 2019 quarter: Gold Basin results repeated; SRK sampled Alpha torbanite to support a contingent resource estimate. The company is preparing a capital raising, with details expected by end of next quarter. Operating outflow was $350,000.
17 June 2019drilling result▲ GoodMajor
Gold Basin drilling (33 holes, about 2,500m) hit gold in 9 of 10 holes along the Cyclopic fault, including 12.2m at 1.47 g/t and 19.8m at 0.90 g/t. A maiden JORC resource is expected at end of June.
29 May 2019director officer appointment▲ Good
Steve Gemell was appointed a non-executive director from 1 June 2019. He has more than 40 years' mining experience, including work on gold projects in Arizona, and the company said the appointment strengthens its technical expertise.
29 Apr 2019resource reserve update▲ GoodMajor
SRK estimates recoverable oil from Alpha's lower seam at 9.2 to 21.6 million barrels, best estimate 15.4 million, under a proposed well plan. This builds on the earlier 33.4 million barrel in-situ prospective resource. The next step is a contingent resource study.
29 Apr 2019quarterly activities report● Neutral
March 2019 quarter: Gold Basin drilling finished 8 April, with a JORC resource expected by end of June. Alpha extractable oil best estimate is 15.4 million barrels. A funding decision is expected next quarter. Operating outflow was $284,000; cash was $788,000 at quarter end.
1 Apr 2019drilling progress report● Neutral
Gold Basin drilling began mid-March, with about 900m of a planned 2,400m done in 11 vertical RC holes. Altered rock and quartz veining are reported at the target fault zone. No assays yet; results to be reported later.
