Past year: ▼ 62%(2.10c – 5.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 June 2011asset acquisition disposition▲ GoodMajor
Heads of Agreement to buy Esperance Minerals' interests in Lowmead, Nagoorin and Alpha for 17.5 to 28.1 million Greenvale shares, depending on Queensland Energy Resources' pre-emptive rights. Makes Greenvale clear majority owner; needs both shareholder votes, targeted by 30 September 2011.
27 Apr 2011admin correction● Neutral
Registered office and principal place of business moved to Nedlands, Western Australia, from South Melbourne. Phone and postal details changed.
14 Mar 2011half year report● Neutral
Half-year to 31 December 2010: loss of $240,803 (0.64c per share), against $284,908 a year earlier. Cash fell to $236,699 and net assets were $1.70M. Debt of about $852k to an associate remained, before rights issue proceeds arrived.
7 Feb 2011director officer appointment● NeutralMajor
Elias Khouri joined the board and Robert Grover resigned as a director. Grover had led Greenvale as chairman, and Boss Energy-linked leadership is replaced; the half-year report later lists Khouri as non-executive chairman.
1 Feb 2011capital raising announcement● Neutral
Greenvale completed the allotment of the shortfall from the rights issue on 1 February 2011, completing the underwritten raise of about $1.36 million at 8.5c.
31 Jan 2011quarterly activities report▲ GoodMajor
December 2010 quarter: South African pilot tests on Alpha shale gave about 2 to 2.5 barrels of oil per tonne, good oil properties but too little oil for conclusive tests. Results called positive. Native title objections to Nagoorin MDL 234 were withdrawn 5 November 2010, so grant can proceed.
27 Jan 2011capital raising announcement● Neutral
Valid applications received for 7,546,059 shares in the rights issue, against about 16.0 million on offer. The shortfall will be placed by underwriter Novus under the underwriting agreement.
30 Dec 2010other● Neutral
Administrative notice that the rights issue prospectus dated 13 December 2010 has been despatched to shareholders. No new information.
23 Dec 2010other● Neutral
Adoption of a Security Trading Policy setting closed periods and insider trading rules for directors and employees. Governance document only, with no operational or financial news.
14 Dec 2010capital raising announcement● Neutral
Cover letter to securityholders for the rights issue: about 16.0 million shares at 8.5c, record date 22 December 2010, closing 24 January 2011, underwritten by Novus. Proceeds are for debt repayment, technology review and working capital. Repeats the prospectus terms.
13 Dec 2010capital raising announcement● Neutral
Prospectus lodged for the underwritten rights issue: 2 new shares for every 3 held (2 for every 12 partly paid) at 8.5c, raising about $1.36 million, closing 24 January 2011. The chairman says funds will retire debt and fund the technology review.
22 Oct 2010annual report● Neutral
Re-release of the 2010 annual report already lodged on 24 September 2010, with the same directors and content in a new layout. No new information in the text provided.
15 Oct 2010capital raising announcement● NeutralMajor
Greenvale signed a mandate with Novus Capital to fully underwrite a rights issue of 2 new shares for every 3 held at 8.5c, raising up to about $1.36 million. Proceeds go to reducing debt and working capital, following the 7c $500k placement.
24 Sept 2010annual report● Neutral
2010 annual report for the year to 30 June 2010. Board is Grover (Chairman), Lorentz and Obeid; Fayad's November 2009 resignation is noted. Text provided is truncated, so no financial figures are reported here.
30 Apr 2010capital raising announcement▲ GoodMajor
After March 2010 quarter, Greenvale agreed with Novus Capital to raise $500,000 via a placement of 7,142,858 shares at 7c, for working capital. First 2,190,000 shares come shortly; the rest needs shareholder approval. Testing at the technology provider is delayed by a burner part.
What it means for a shareholder
7.1m new shares at A$0.070 to raise about A$500,000. That's 33% dilution: every existing holder's slice gets 33% smaller. If you held A$1,000 of shares (14,286 at the issue price), your slice goes from 0.0976% to 0.0656% of the company. To keep it you'd need 6,971 more shares - about A$488 at the issue price.
Create a free account to see this worked out for your own holding.
10 Mar 2010half year report▼ Bad
Half-year to 31 December 2009: loss of $284,908 (1.31c per share). Cash fell to $332,100 from $794,724; net assets $1.63M. Interest-bearing loan is $860,610 and Fayad is no longer a director.
2 Feb 2010listing compliance notice▼ BadMajor
ASX queried Greenvale after December 2009 quarter operating outflow of $384,000 and cash of $332,000. Company cited abnormal legal costs for a confidential, incomplete proposed acquisition and said it is reviewing capital raising. It says it complies with listing rules.
9 Nov 2009director officer appointment● NeutralMajor
Managing Director Vince Fayad resigned as a director. Reverses the management direction set when he took over on 31 December 2008; Robert Grover remains chairman.
30 Sept 2009annual report● Neutral
2009 annual report: chairman says the year focused on improving finances and simplifying investments, via the East Coast Minerals sale and the Minga sale. Talks and sample testing continue with a South African technology provider; the board hopes the moratorium ends favourably.
24 Aug 2009admin correction● Neutral
Registered office moved to Level 1, 2 Ross Place, South Melbourne. Postal, phone and email details unchanged.
17 Aug 2009asset acquisition disposition● Neutral
Boss Energy, which holds about 18% of Greenvale, bought 100% of Minga for $50,000 cash. Minga's main asset is a roughly $823,000 loan to Greenvale, which Boss agreed not to call before 1 October 2010 without Greenvale's agreement.
17 Aug 2009asset acquisition disposition▲ GoodMajor
Greenvale sold its 45% of Minga to Boss Energy for $22,500. Minga's loan to Greenvale is extended to 1 October 2010, giving more certainty on repayment, and non-cash repayment will be considered. Unwinds old arrangements with Esperance and East Coast.
7 Apr 2009remuneration report● Neutral
Disclosure of Managing Director Vince Fayad's terms: seconded from PKF at a discounted hourly rate, capped at $5,000 a month without chairman approval, not linked to share price, terminable on 7 days' notice with no termination payments.
13 Mar 2009half year report▼ Bad
Half-year to 31 December 2008: loss of $421,096 (1.93c per share), versus $689,939 a year earlier. Cash fell from $1.41M to $1.08M, net assets to $2.35M. Auditor now shown as RSM Bird Cameron.
30 Jan 2009quarterly activities report▼ BadMajor
December 2008 quarter: testing of Alpha shale with Global Resources technology produced no meaningful results and the relationship is being re-evaluated, with new technology partners approached. Contradicts the earlier 3 barrels per tonne result. Nagoorin MDL 234 notice received; moratorium continues.
31 Dec 2008director officer appointment● NeutralMajor
Chairman Leslie White retired after 39 years, staying as consultant. Boss Energy's Robert Grover becomes Chairman and PKF partner Vince Fayad Managing Director. Board is now Grover, Lorentz, Obeid and Fayad; office moves to Melbourne.
23 Dec 2008asset acquisition disposition● NeutralMajor
Greenvale sold its East Coast Minerals shares (5,671,868 ordinary plus bonus partly paid) to related company Minga for $250,000, applied against the loan. The loan owed to Minga falls from $1,279,593 to $749,593, before interest.
28 Aug 2008regulatory community update▲ Good
Queensland Mines Department advised that exploration and research can continue during the two-year oil shale moratorium, and asked for details of technologies being evaluated. Softens the earlier moratorium news.
26 Aug 2008regulatory community update● Neutral
Duplicate filing of the 26 August 2008 joint announcement on the Queensland two-year oil shale moratorium. No new information.
26 Aug 2008regulatory community update▼ BadMajor
Queensland government announced a two-year moratorium on oil shale projects. Greenvale says it has no official advice yet, and argues its inland tenements are far from the coast. A major regulatory threat to its projects.
