2 Feb 2007capital raising announcement● Neutral
Rights issue closing date extended again to 20 February 2007, after the share registry sent incorrect entitlement forms to some shareholders. Options expected to trade from 1 March. Administrative.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Jan 2007quarterly activities report● Neutral
Quarter to December 2006: prepared the options rights issue prospectus (one for two at 40 cents) and applied for Alpha bulk-sampling approval, expected within weeks. 783,103 contributing shares converted; 14.3M fully paid and 7.5M contributing shares on issue. Otherwise repeats known test results.
29 Jan 2007quarterly activities report▼ Bad
Cash flow report for December 2006 quarter: operating outflow $289,000 and cash at quarter end $599,000 (about $704,000 with deposits), down from $838,000. Estimated outflow next quarter $15,000. Routine filing.
22 Jan 2007capital raising announcement● Neutral
Rights issue timetable extended after complaints from overseas shareholders. Closing date moves to 13 February 2007, with options expected to trade from 23 February. Administrative.
12 Jan 2007capital raising announcement● Neutral
Prospectus for the renounceable options issue (one for two at 40 cents), aiming to raise about $4.36 million. Options are described as speculative. Formalises the 22 December announcement; the text provided is truncated.
22 Dec 2006capital raising announcement● NeutralMajor
Greenvale announces a renounceable rights issue of one option for every two shares at 40 cents per option, about 10.9 million options, not underwritten. Options are exercisable at a further 30 cents between January 2010 and December 2011. Funds go to the INL technology, oil extraction research and bulk sampling.
1 Dec 2006agm notice● Neutral
All resolutions carried at the 30 November 2006 AGM: accounts adopted, Leslie White elected director, remuneration report adopted, and directors' fees cap set at $80,000 a year. Administrative.
26 Oct 2006quarterly activities report● Neutral
Quarter to September 2006: confirms the exclusive INL/Mobotec licence, the 16 August symposium and the solvent results, and plans to apply for a federal $150 million emissions grant. 889,625 contributing shares converted to fully paid. Largely repeats known facts.
26 Oct 2006quarterly activities report● Neutral
Cash flow report for September 2006 quarter: operating outflow $170,000, share proceeds $139,000, and cash at quarter end $838,000 (about $941,000 with deposits). Estimated next-quarter outflow is $15,000. Routine filing.
3 Oct 2006regulatory community update● Neutral
Greenvale and Esperance are seeking Queensland approval to take a bulk sample at Alpha. Samples would go to Idaho National Laboratory for emissions-technology testing, and be solvent-tested to see if the roughly threefold oil yield seen at Nagoorin and Lowmead repeats.
29 Sept 2006annual report● Neutral
2006 accounts, text truncated to the corporate governance statement. It notes Leslie White is both Chairman and CEO, there is no audit committee, and a majority of directors are not independent. KPMG has been auditor since 1972. No financial figures are visible.
11 Sept 2006resource reserve update▲ GoodMajor
Solvent technology tests on one Nagoorin and three Lowmead samples gave 400 and 358 litres a tonne versus about 119 and 116 by Fischer Assay. If applied across both deposits, Nagoorin's 2.65 billion barrels could exceed 8.8 billion. Company stresses results are preliminary.
11 Sept 2006resource reserve update● Neutral
Re-release of the same 11 September joint announcement under the Esperance Minerals heading: solvent tests gave 400 and 358 litres a tonne at Nagoorin and Lowmead, versus about 119 and 116 by Fischer Assay. Preliminary; no new information.
16 Aug 2006material agreement▲ GoodMajor
Media release says Greenvale and Esperance have acquired the exclusive INL/Mobotec licence for emissions-reducing oil shale technology in Australia, NZ, India and Japan. This follows the June Letter of Intent. The Alpha deposit holds 89.5 million barrels; open-cut transport cost estimated at US$18 a tonne.
28 July 2006quarterly activities report▲ Good
Quarter to June 2006: Idaho National Laboratory and Mobotec are named as licensing partners, with final documents hoped to be signed within 10 days. Nagoorin EPM 7721 renewed to March 2007. Oil shale samples sent for solvent testing; a Sydney symposium is planned for August.
28 July 2006quarterly activities report● Neutral
Cash flow report for the June 2006 quarter: operating outflow $139,000 and cash at quarter end $907,000 (about $1.0 million including deposits). Estimated outflow for next quarter is $15,000. Routine financial filing.
19 June 2006material agreement▲ GoodMajor
Greenvale and Esperance signed a Letter of Intent with two unnamed overseas groups for exclusive rights in Australia, NZ, India and Japan to use oil shale to cut coal power plant emissions 70-90%. Final agreement is targeted by end of July; it follows the earlier negotiation talk.
30 May 2006price query● Neutral
ASX queried a share price rise from $0.77 to $1.45 in days. Greenvale denied having undisclosed information, saying there is strong interest in oil shale and that licensing negotiations for new technologies continue, and confirmed listing rule compliance.
27 Apr 2006quarterly activities report● Neutral
Quarter to March 2006: tenements still on care and maintenance with renewals lodged; company negotiating with an overseas party on offshore oil shale treatment, with Alpha the preferred test site. Notes the two placements; Commonwealth Bank subsidiaries now hold 10.33% voting power.
27 Apr 2006quarterly activities report▲ Good
Cash flow report for the March 2006 quarter: share issues brought in $1.129 million, lifting quarter-end cash to $958,000 (about $1.06 million including deposits). Operating outflow was $138,000. Reflects the two February and March placements.
10 Mar 2006other● Neutral
East Coast Minerals says it owns 26.22% of Greenvale and Esperance shares, and so indirectly their oil shale holdings. It is a sister company announcement; this release was superseded by a revision the same day.
10 Mar 2006admin correction● Neutral
Revised East Coast Minerals notice clarifying its stakes: 14.91% of Greenvale Mining and 11.31% of Esperance Minerals, giving 26.22% of their oil shale holdings combined. Corrects the earlier same-day announcement.
7 Mar 2006capital raising announcement▲ GoodMajor
Greenvale issued 2,244,000 shares at 42 cents to clients of Westchester Corporate Finance, raising $942,480 with a 5% brokerage fee. Funds go to research and development with a Canadian environmental group on oil shale uses. Contributing shares can convert to fully paid at 15 cents.
What it means for a shareholder
2.2m new shares at A$0.420 to raise about A$942,480. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
22 Feb 2006half year report▼ Bad
Half-year to December 2005: net loss $176,480, cash $146,085 and net assets $1.6 million. Interest-bearing loans stand at about $1.45 million. The company continued care and maintenance of its oil shale leases; the February share placement is noted as a subsequent event.
16 Feb 2006capital raising announcement▲ GoodMajor
Greenvale placed 600,000 shares at 42 cents to clients of Martin Place Securities, raising about $250,000 (later reported as $252,000), with a 5% brokerage fee. Funds go to research with a Canadian group on mixing oil shale with coal to cut CO2, with first trials planned on Alpha oil shale.
What it means for a shareholder
600,000 new shares at A$0.420 to raise about A$252,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
10 Feb 2006admin correction● Neutral
Administrative notice that the share registrar, Link Market Services, moves its Sydney address from 13 February 2006. No substance for shareholders beyond the new address.
31 Jan 2006quarterly activities report● Neutral
Quarter to December 2005: Nagoorin and Lowmead oil shale tenements stayed on care and maintenance, with renewals being lodged. The company is exploring in-situ oil shale extraction and a possible Alpha oil shale trial. Alpha holds 89.5 million barrels; Nagoorin (50% interest) 2.65 billion barrels total.
31 Jan 2006quarterly activities report● Neutral
Cash flow report for the December 2005 quarter: operating cash outflow of $81,000, with cash at quarter end of $144,000. Estimated outflow for next quarter is $15,000. Routine financial filing.