Past year: ▼ 62%(2.10c – 5.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Apr 2016quarterly activities report● Neutral
March 2016 quarter: no activity on the tenements, and the board is assessing exploration-sector acquisitions. Cash fell to $2.449M, including $224,000 for the aborted AIM listing in the six months. Estimated next-quarter outflow is $50,000.
11 Mar 2016half year report● Neutral
Half-year to 31 December 2015: loss of $371,989 (prior $624,410), mainly costs tied to the QER sale and admin. Convertible notes redeemed in full, and director loans repaid from sale proceeds. Strategic direction is still being assessed, including an acquisition.
3 Mar 2016director officer appointment● NeutralMajor
Justin Dibb and Phillip Shamieh join as non-executive directors, bringing mining experience and potential access to acquisition deals. Vince Fayad becomes company secretary, replacing Winton Willesee after nearly nine years. The registered office moves to Sydney.
22 Jan 2016quarterly activities report● Neutral
December 2015 quarter: QER sale completed with $3.36M net proceeds, all liabilities including director loans paid, and cash of $2.512M at 31 December. Madre South was granted in November. The board is reviewing options for Alpha and looking at mining acquisitions.
6 Jan 2016director officer appointment● Neutral
Executive Director Stephen Baird resigned on 6 January 2016 after the completed sale of the Lowmead and Nagoorin assets to QER, with cash now the main asset. No replacement executive director is needed yet, and Michael Povey took over technical matters.
7 Dec 2015regulatory community update● Neutral
Queensland grants a variation cutting Alpha MDL330 spending commitments to $40,000 for 2015 and $75,000 for 2016, after the oil shale moratorium was lifted and renewals were delayed. The work program restarts with data review, then scoping studies in 2016.
20 Nov 2015asset acquisition disposition▲ GoodMajor
The sale of Lowmead and Nagoorin to QER completes, with $3.36M net proceeds received after the $400,000 deposit and $239,632 of tenement costs. Net cash is estimated at about 2.8 cents per share. Alpha and Madre remain; Greenvale is also evaluating two WA gold projects.
28 Oct 2015quarterly activities report● Neutral
September 2015 quarter: shareholders approved the $4M QER sale on 22 September, with only licence transfers outstanding and the sunset date now 14 November. Convertible notes are fully redeemed with 3.1M options issued. Board is considering Alpha and a mining or other acquisition.
2 Oct 2015asset acquisition disposition● Neutral
All QER sale conditions are met except government transfer of MDL 234, EPM 7721 and MDL 188, with no processing timeline given. The sunset date is extended one month to 14 November 2015, so the $4M completion is delayed.
25 Sept 2015annual report● Neutral
2015 annual report for the year to 30 June 2015, now under the name Greenvale Energy Limited. The readable text covers only directors: Khouri, Baird, Povey and Fayad, with Knauer resigning 19 May 2015. No financial results are visible.
25 Sept 2015other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, pointing to the governance statement on pages 18-29. Administrative filing with no substantive news.
24 Sept 2015admin correction● Neutral
Greenvale lodges its new constitution, adopted after shareholders approved the change at Tuesday's general meeting. It enables conversion from a No Liability to a Limited Liability company. No financial effect is stated.
24 Sept 2015debt financing▲ GoodMajor
All 31 convertible notes ($287,742 face) are redeemed for $229,902 cash, about 80% of face, plus 3.1M free options at 8c expiring August 2018. Director-related loans fund this, at 8% rising to 16% from November 2015. Completion of the QER sale is expected by 14 October.
28 July 2015quarterly activities report● Neutral
June 2015 quarter: restates the QER sale agreement, with the $400,000 deposit received. The rights issue is cancelled because of the deposit and deferred QER payments. Directors' loans will fund repayment of the convertible notes, to be repaid from the sale proceeds.
14 July 2015asset acquisition disposition● NeutralMajor
Greenvale signs a sale agreement with QER for its Nagoorin and Lowmead interests for $4M cash, with a $400,000 deposit. Completion needs shareholder approval, with a net cash position of about $3M expected afterwards. Convertible noteholders are to be repaid; no new strategy is set.
3 June 2015asset acquisition disposition● NeutralMajor
Partner QER makes a conditional $4M cash offer for Greenvale's Lowmead (50%) and Nagoorin (67%) interests, subject to shareholder approval. Alpha is kept. The planned rights issue is postponed, with short-term funding sought from shareholders or directors.
19 May 2015capital raising announcement▼ BadMajor
Board plans a fully underwritten rights issue of 2 new shares for every 3 held, at about 1.25c to raise about $800,000 for working capital. It also defers the AIM listing to Q3 and opens the door to acquisitions, even outside mining. Povey joins the board; Knauer resigns.
30 Apr 2015quarterly activities report▼ Bad
March 2015 quarter: AIM dual listing, previously targeted for Q1 2015, is now under review given tougher markets. Directors are weighing a rights issue or strategic-partner equity, and are open to business combinations, asset sales or acquisitions. Alpha renewal and Madre North grant are repeated.
13 Mar 2015half year report▼ Bad
Half-year to 31 Dec 2014: loss $624,410 (prior year $262,421), including $280,844 of AIM listing costs. Convertible notes of $1.19M converted to 25.6M shares and 31 new notes ($287,742) issued. Lowmead and Nagoorin stay on care and maintenance.
2 Mar 2015regulatory community update▲ GoodMajor
Alpha MDL 330 renewed to January 2017, resolving the long-pending renewal. Baird says the very rich shale could replace fuel oil in nickel processing, giving early cash flow. This is the company's view; no deal or contract is stated.
2 Feb 2015quarterly activities report● NeutralMajor
December 2014 quarter: all convertible notes converted; after AGM approval Greenvale placed 1.8M shares for about $180,000 and issued about $288,000 of new notes to fund the AIM listing, now targeted for Q1 2015. Company renamed Greenvale Energy NL; EPM 25795 granted.
3 Nov 2014director officer appointment● Neutral
Vince Fayad, a corporate finance adviser and former Greenvale managing director (2008-09), joins as non-executive director from 31 October 2014. Joseph Obeid resigned at the same time.
31 Oct 2014quarterly activities report● Neutral
September 2014 quarter: AIM dual listing is in due diligence, hoped for in Q4 2014. Greenvale raised an extra £250,000, held or committed pending approval at the 6 November AGM, to cover costs. London broker Old Park Lane began research coverage; two new EPM applications lodged.
3 Oct 2014annual report● Neutral
Shareholder copy of the 2014 annual report, same content as the statutory accounts lodged 29 August. The readable text shows directors only; no financial results are visible.
16 Sept 2014security holder rights change● NeutralMajor
Conversion of 112 convertible notes ($1.12M face) into 24,086,022 shares at 4.65c, each with a free 10c option expiring August 2018. This follows the October 2013 note raising; shares on issue rise to 88.4M.
1 Sept 2014other● NeutralMajor
Greenvale intends to apply for a second listing on London's AIM, keeping its ASX listing. The board says it would help attract investors, improve liquidity and raise capital. No timing, size or approval is given.
29 Aug 2014annual report● Neutral
Statutory accounts for the year to 30 June 2014. Readable text covers only the directors and corporate directory (Khouri, Baird, Knauer, Obeid; Lorentz resigned November 2013). No financial results are visible.
31 July 2014quarterly activities report● Neutral
June 2014 quarter: Lowmead and Nagoorin remained on care and maintenance. Groundwater surveys restarted after a two-year gap (8 bores at Lowmead, 20 at Nagoorin). Strategic review and asset screening continue, with no deal announced.
27 May 2014investor presentation● Neutral
May 2014 presentation: cites over 700M barrels of 2C and 1.8B barrels of 3C net to Greenvale. Shows 64.3M shares, 5.4c price, $3.5M market cap and unaudited cash of $598,000 at 31 March 2014. Repeats known resource figures.
30 Apr 2014resource reserve update● NeutralMajor
March 2014 quarter: partner QER restated Nagoorin and Lowmead under SPE-PRMS rules. Nagoorin 2C is 946M barrels and 3C 2,234M (Greenvale 67%); Lowmead 3C is 671M (50%). Knauer joined the board; QER's plant investor process continues.
