Past year: ▼ 62%(2.10c – 5.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 July 2010quarterly activities report● Neutral
June 2010 quarter: the $500,000 Novus placement at 7c completed, final tranche on 26 July. Nagoorin EPM 7721 renewed to March 2011; native title deal signed, but MDL 234 grant is not expected soon because of the government review. Still awaiting technology test feedback.
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.
29 Jan 2010quarterly activities report● Neutral
December 2009 quarter: the South African provider is building a bench-scale test plant for the 150 kg Alpha sample. Commissioning is expected late February, with testing from March. Robert Grover is now contact as Executive Chairman.
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.
29 Oct 2009quarterly activities report▲ Good
September 2009 quarter: a larger Alpha shale sample was sent to the potential technology provider. The native title Ancillary Agreement for Nagoorin was finalised, signed after quarter end, allowing MDL 234 grant to proceed. Moratorium continues.
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.
31 July 2009quarterly activities report● Neutral
June 2009 quarter: care and maintenance continues. A small Alpha sample went to a South African technology provider (inference: the new retort provider). Oil rose from US$50 to over US$60. Nagoorin renewal and MDL 234 grant still pending; moratorium continues.
28 Apr 2009quarterly activities report● Neutral
March 2009 quarter: preliminary Alpha shale tests with a new vertical retort technology provider are positive. Native title claimants objected to Nagoorin MDL 234 grant; an agreement is being negotiated. Oil prices remain low and the moratorium continues.
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.
29 Oct 2008quarterly activities report● Neutral
September 2008 quarter cash flow: cash fell from $1.41M to $1.378M, after $280k from asset sales and a $253k commercial bill repayment. Operating outflow was $191k; next quarter exploration spend estimated at $30k.
29 Oct 2008quarterly activities report● Neutral
September 2008 quarter: moratorium allows continued exploration; notice of intention to grant Nagoorin MDL 234 received, notification period ends 15 February 2009. Alpha yield of 3 barrels per tonne confirmed, final report awaited. Search for other technologies continues.
21 Oct 2008agm notice● Neutral
Amended notice of the annual general meeting to be held 25 November 2008, with proxy form including remuneration report and no-dividend resolutions. Text is largely garbled; administrative.
2 Oct 2008agm notice● Neutral
Annexure to the AGM notice with the proposed new company constitution (Resolution 9) to replace the replaceable rules. Text is largely garbled; administrative.
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.
30 July 2008quarterly activities report▼ BadMajor
June 2008 quarter: 20% Glassford JV interest sold for $30,000, and Mobotec rights terminated after the shale performed poorly for emissions use. Global Resources reports 3 barrels per tonne from Alpha shale. Resolves the Mobotec thread negatively.
23 June 2008director officer appointment● Neutral
Secretary Gary Douglas retired on 19 June 2008 after 30-odd years. Boss Energy's Winton Willesee was appointed Joint Company Secretary, continuing Boss's growing presence in management.
19 May 2008director officer appointment● Neutral
Boss Energy director Joseph Obeid joined the Greenvale board; Elizabeth Stoliar retired after 24 years. Adds a second Boss Energy figure to the board after Robert Grover.
29 Apr 2008quarterly activities report▲ Good
March 2008 quarter: Global Resources says Alpha shale yields about US$319 of product per tonne and is interested in a joint venture, with a machine expected within 12 months. Imperial pilot plant delayed by approvals. Percentages under negotiation; not agreed.
1 Feb 2008director officer appointment● Neutral
Brian Robert Taylor was appointed Secretary of Greenvale on 31 January 2008, as joint company secretary. Routine administrative change.
