Past year: ▼ 62%(2.10c – 5.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Apr 2012quarterly activities report▲ GoodMajor
March 2012 quarter: Greenvale completed the Esperance acquisition, issuing 17,420,589 shares (distributed to Esperance holders). It plans a share purchase plan, a call on partly paid shares, a sale of unmarketable parcels and a loyalty option offer. Alpha data-room being compiled for partners.
14 Mar 2012half year report● Neutral
Half-year to 31 December 2011: loss of $481,912 (1.14c per share) against $240,803 a year earlier. Cash was $231,708 and net assets $2.43M. It reports the Esperance consolidation completed on 23 February 2012, with consideration shares issued.
31 Jan 2012quarterly activities report● Neutral
December 2011 quarter: Greenvale shareholders approved the Esperance consolidation, with the Esperance vote due 31 January 2012. Lowmead and Nagoorin stay in care and maintenance. Nagoorin EPM renewal lodged 8 December; MDL 234 grant and moratorium unchanged.
18 Jan 2012asset acquisition disposition● Neutral
QER settled its pre-emptive purchase for $1.55 million. Greenvale shareholders approved the consolidation on 30 November 2011. Only the Esperance shareholder vote, set for 31 January 2012, remains.
29 Nov 2011admin correction▼ Bad
Esperance cancelled its 30 November 2011 meeting on the Greenvale deal. A new meeting is planned for January 2012 with a replacement prospectus. This delays the consolidation; no reason is given.
28 Nov 2011security holder rights change● Neutral
Notice that the 30c listed options (GRVO) expire 31 December 2011, with quotation ending 20 December. Options last traded at 0.5c while shares traded between 10c and 14c, so they are far out of the money.
25 Oct 2011quarterly activities report● Neutral
September 2011 quarter: shareholder meeting on the Esperance consolidation set for 30 November 2011, with 17,491,764 shares to be issued. Nagoorin EPM 7721 renewal was granted 12 August 2011, current to 21 March 2012. MDL 234 grant still not issued and the moratorium continues.
24 Oct 2011annual report● Neutral
Published 2011 annual report, the shareholder-facing version of the accounts lodged in September. Directors are Khouri, Lorentz and Obeid. Nothing new is shown in the readable text.
13 Oct 2011regulatory community update▲ Good
Greenvale points to a press report that QER's Gladstone oil shale demonstration plant has produced oil during commissioning. QER is its partner at Lowmead and Nagoorin; Greenvale calls it a step towards commercialising its assets. Esperance vote expected 30 November 2011.
27 Sept 2011annual report● Neutral
Statutory annual accounts for the year to 30 June 2011, with Khouri as chairman and Lorentz and Obeid as directors. Only the front section was readable, with no financial figures shown. Nothing new on the Esperance deal or the projects.
28 July 2011quarterly activities report● Neutral
June 2011 quarter: Esperance deal now means Greenvale issues 17,491,764 shares; after completion Greenvale would hold Lowmead 50%, Nagoorin 67% and Alpha 100%. Nagoorin EPM 7721 renewal and MDL 234 grant still pending, Lowmead renewal lodged, and the moratorium continues.
20 July 2011asset acquisition disposition● Neutral
Greenvale confirms QER has fully exercised its pre-emptive rights over Lowmead and Nagoorin, and the board welcomes QER's larger stake. Full transaction documents to follow. Settles the share count question from the June deal (the minimum, 17.49m, now applies, inferred from the Esperance release).
20 July 2011asset acquisition disposition● Neutral
Esperance says Queensland Energy Resources (QER) will fully exercise its pre-emptive rights on Lowmead and Nagoorin. Esperance gets about $1.6m cash from QER and 17.5m Greenvale shares, to be distributed to its holders. Still needs both shareholder votes. Resolves the open QER question from the June deal.
22 June 2011asset acquisition disposition● Neutral
Esperance Minerals' side of the same deal: it sells its oil shale interests to Greenvale for up to about 28 million Greenvale shares, distributed to its shareholders. If QER exercises its rights, Esperance would receive about $1.6m cash and 17.5m shares.
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.
20 Apr 2011quarterly activities report▲ Good
March 2011 quarter: the rights issue raised about $1.36 million, applied mainly to reducing debt; the $823k loan was repaid. Cash was $509k. MDL 234 grant still awaits, EPM 7721 renewal is pending and the moratorium continues.
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.
28 Oct 2010quarterly activities report● Neutral
September 2010 quarter: South African technology testing has started with preliminary feedback and a formal report due soon. MDL 234 grant process continues and the moratorium remains. Novus was issued 428,571 shares in lieu of $30,000 fees.
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.
