14 Nov 2023investor presentation● Neutral
CEO Mark Turner is presenting at Resources Rising Stars in Sydney (14 Nov) and Melbourne (16 Nov). The visible text is a notice and disclaimers; slides are attached but no new results are visible.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 Nov 2023capital raising announcement● Neutral
Greenvale issued 7,453,125 shares to Pioneer at $0.064 to settle $477,000 of the $4M prepayment. This is the second conversion after April's $0.082. Future requests below the $0.07 floor are to be repaid in cash plus a 9% premium, not shares.
13 Nov 2023resource reserve update▲ GoodMajor
SRK's updated Alpha Inferred resource is 28Mt, up 51% from 18.6Mt, with 27.7M barrels of synthetic oil equivalent, up 30%. It includes 4.3Mt of torbanite, a modest decline. It remains Inferred, with upgrade to Indicated dependent on Test Program Four.
31 Oct 2023quarterly activities report● Neutral
September quarter: Phase 2 drilling completed, resource model due mid-December quarter, Test Program Four started, Longreach study done, and EP 145 deal secured after quarter-end. PFS is due Q1 2024. Greenvale's Astute stake was diluted from 13.69% to 11.21%.
23 Oct 2023joint venture update▲ Good
Alpha Test Program Four is progressing: two of three Licella runs done, Monash has begun its first of 16 runs, and Technix has received a first bulk sample. SRK's resource upgrade is still due early November. The CEO calls Alpha the priority over the new helium project.
17 Oct 2023farm in farm out agreement▲ GoodMajor
Greenvale agreed to earn 75% of EP 145 (Amadeus Basin, NT) from Mosman Oil and Gas for $160,000 cash, funding 100% of seismic and well work. Mosman's best-estimate prospective resource is 440 Bcf total gas, including 26.4 Bcf helium and 26.4 Bcf hydrogen. Needs Ministerial consent.
4 Oct 2023joint venture update▼ BadMajor
CeraPhi's feasibility study modelled 150°C and a 4.95MWe plant at Longreach, but CEO says the economics do not work now, and exploration below 3,000m is unlikely to be economic at small scale. Greenvale shifts focus to the Millungera Basin.
2 Oct 2023drilling result▲ Good
Phase 2 Alpha drilling finished: 20 HQ core holes, 1,053.5m. Initial results match expectations. SRK's updated resource is due early November. The 15-hole chip program was pushed to next year. Test Program Four is under way, with Licella's first run complete.
29 Sept 2023agm notice● Neutral
Greenvale will hold its AGM on 22 November 2023 at 11:30am AEDT. Director nominations close 13 October 2023. Administrative notice only.
29 Sept 2023annual report● Neutral
Annual report for the year to 30 June 2023. The chairman's letter says the pre-feasibility study is now expected by Q1 2024, later than the Q3 2023 target in July, with pilot plant trials to follow. It confirms the 80% Georgina disposal. Financials are not visible.
29 Sept 2023admin correction● Neutral
Appendix 4G corporate governance checklist lodged with the annual report. It is an administrative filing with no new information on operations or finances.
15 Sept 2023investor presentation● Neutral
CEO Mark Turner presented at the Spark Plus Singapore Mining Day on the Alpha and geothermal projects. The visible text is mostly disclaimers; no new results.
23 Aug 2023joint venture update● Neutral
Greenvale moved the final Alpha liquefaction test program (Program Four) from the University of Jordan to Monash University, citing larger-scale sample needs. It also engaged Licella for supercritical water scoping and Technix for bitumen product advice. Feeds the pre-feasibility study; drilling nears completion.
3 Aug 2023regulatory community update● Neutral
Astute Metals (the Georgina owner, in which Greenvale is largest shareholder per the quarterly) began an ambient noise seismic survey at the Central tenement, co-funded by a $100k NT grant. Greenvale holds 20% of the project. Targeting work is due in Q4 2023; no drilling.
28 July 2023quarterly activities report▲ Good
In the June 2023 quarter Greenvale completed Alpha Test Program Three (67.30wt% maximum conversion for Cannel Coal), began resource upgrade drilling, had Program Four under way, and started the CeraPhi Longreach geothermal feasibility study. Geophysics advanced at Georgina (20%), operated by Astute Metals, in which Greenvale is the largest shareholder.
19 July 2023other▲ Good
Greenvale received a $0.465M R&D tax rebate for 2022, tied to Alpha work. The company says it will fund the Alpha pre-feasibility study, now targeted for the September 2023 quarter, and pilot plant test work.
29 June 2023drilling spud▲ GoodMajor
Greenvale began a 2,000m resource upgrade drilling program at Alpha on 28 June: 25 core holes and 15 chip holes, about 55 days. It aims to lift part of the 18.6Mt Inferred resource to Indicated and test extensions south and west.
21 June 2023drilling progress report● Neutral
Astro finished the co-funded Ranken geophysical surveys and started a 548-station gravity survey over the Central Georgina area, due within a week. Results will guide the first Ranken drill hole and future targets. Greenvale holds 20%; no drilling or assay results.
5 June 2023regulatory community update▲ Good
Astro, which owns 80% of Georgina (Greenvale 20%), won two NT Government co-funding grants worth up to $261,106: $100,000 for a seismic survey at the Central area and $161,106 toward a 700m drill hole at Ranken. Work is scheduled for Q3 and Q4 2023.
22 May 2023regulatory community update● Neutral
Astro began gravity and passive seismic surveys at Ranken, the eastern part of Georgina (Greenvale 20%), targeting zinc-lead-silver. The surveys are co-funded by an NT grant and due to finish by early June. These are early-stage surveys, not drilling.
17 May 2023drilling result▲ GoodMajor
Alpha Test Program Three, run by the University of Jordan, reached maximum conversion of 67.3wt% for cannel coal, 65.9wt% for torbanite and 66.3wt% for a blend. Cannel coal improved 72% on Program Two. Program Four starts imminently and leads to the PFS.
17 May 2023investor presentation● Neutral
CEO Mark Turner presented at Resources Rising Stars on the Gold Coast on 17 May, with slides attached. The visible text is mostly disclaimers and shows no new results.
11 May 2023material agreement▲ GoodMajor
Greenvale signed a binding agreement with CeraPhi Energy for a Longreach geothermal feasibility study, due in about 12 weeks, plus a non-exclusive option on CeraPhi's closed-loop well patents. It also plans to relinquish permits with little potential. Costs are not stated in the visible text.
27 Apr 2023quarterly activities report● Neutral
March quarter: Test Program Two results reported, University of Jordan running Programs 3 and 4, and the PFS timing update promised in the June quarter after delays. Geothermal native title agreements advanced. Georgina assays reported; the $4M Pioneer placement is noted as complete.
27 Apr 2023capital raising announcement▼ Bad
Greenvale issued 6,780,488 shares to Pioneer at $0.082 each against $556,000 of the $4M February prepayment. This is the first conversion of the prepayment, at a price far below the initial $0.35, so it dilutes existing holders.
17 Apr 2023investor presentation● Neutral
Astro (80% owner of Georgina) announces its exploration manager will present a Georgina Basin update at a geoscience seminar in Alice Springs on 18-19 April. The visible text is mostly disclaimers and shows no new results.
6 Apr 2023drilling result▲ Good
Assays from Astro's Leichhardt East hole at Georgina (Greenvale 20%) show uranium of 0.24% U3O8 at 689.09-689.41m and 0.11% U3O8 at 481.1-481.85m, plus copper, silver and bismuth anomalism. This resolves the pending assays; copper grades are low (e.g. 819ppm). Follow-up is planned.
6 Apr 2023admin correction● Neutral
Greenvale re-releases the 30 March Test Program Two announcement with added commentary on the JORC Code Table 1 (Sections 1 and 2) reporting. The company says no other changes were made, so there are no new results.
30 Mar 2023drilling result▲ GoodMajor
Alpha Test Program Two on cannel coal (about 76% of the 18.6Mt resource) lifted maximum conversion to 39.0wt% at 365C, from 24.8wt% in Program One. Asphaltenes reached up to 6.5wt%, with under 1% gas. Program Three is under way; these are lab tests, not a PFS.
15 Mar 2023half year report● Neutral
Half-year to 31 December 2022: loss of $2.32M (prior period $5.26M) and net assets of $11.38M, down from $12.73M in June. The report confirms the 80% Georgina sale and the February $4M placement to fund the Alpha pre-feasibility study.