26 Aug 2022admin correction● Neutral
Greenvale's registered and principal administrative office moves to Suite 6, Level 5, 189 Kent Street, Sydney, with immediate effect. This follows the move flagged on 25 August. Administrative only.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
25 Aug 2022director officer appointment● NeutralMajor
Biddle steps down as Managing Director on 31 August 2022 but stays as non-executive director. Mark Turner becomes CEO. Healy moves to run Knox until the Astro sale, then becomes Astro CEO. CFO Boys retires 30 September; Kurt Laney succeeds him. Registered office moves to Sydney.
24 Aug 2022well test result▲ GoodMajor
First Parr Reactor liquefaction tests on Alpha torbanite produced the heavy oil fractions needed for bitumen, with less gas than pyrolytic retorting. Management calls it proof of concept. Higher-temperature tests, pilot plant design and a prefeasibility study follow; yields are not yet defined.
18 Aug 2022director officer appointment● Neutral
Non-executive director Dagmar Parsons has resigned from the board. No reason is given in the announcement.
9 Aug 2022material agreement termination▼ BadMajor
Greenvale and Within Energy mutually agreed not to proceed with the acquisition announced 1 June. Greenvale will instead pursue geothermal power and carbon credits through its own 100%-owned Queensland permit applications, starting with the Millungera Basin, to support Alpha permitting.
4 Aug 2022security holder rights change● Neutral
Board will issue 333,333 performance rights (Class 6A) to one employee under the plan approved 7 December 2021. They vest only after a one-year service condition, over three years. Small administrative grant.
27 July 2022drilling result● Neutral
Second hole, Leichhardt West, reached 600.8m with alteration and veining indicating a hydrothermal system, and minor chalcopyrite at 401.8m. Assays are pending. The rig has left and drilling is paused until the sale of 80% of Georgina to Astro completes.
8 July 2022investor presentation● Neutral
Presentation on the proposed Within Energy acquisition (initial 51%, option to 100%), delivered by Within CEO Adam Stepanoff. It says permits cover about 11,000 km2 and pitches a faster path for Alpha permitting. Terms are as announced 1 June. (The deal was later dropped.)
29 June 2022drilling result▲ Good
First Banks hole reached 550m, finding IOCG-style hematite alteration in basement from 290.6m and trace chalcopyrite at about 303m and 497m. Assays are pending. Drilling has moved to Leichhardt West. Early, encouraging signs only, not a discovery.
16 June 2022regulatory community update▲ Good
Greenvale lodged three more geothermal permit applications in the Millungera Basin, north-west Queensland, about 120km east of Mount Isa. It adds to the geothermal push begun with the Within Energy deal. These are applications only, not grants.
7 June 2022investor presentation● Neutral
CEO Healy presents at the Resources Rising Stars conference on 7 June 2022, titled 'Paving the Way to a Greener Future'. Visible text is disclaimers only; no new results or terms are disclosed.
6 June 2022drilling spud▲ GoodMajor
Diamond drilling has restarted at Georgina's central tenements: two holes totalling 1,100m at Banks (500m) and Leichhardt West (600m), about 42 days. Greenvale also won two NTGS co-funding grants worth up to $253k and was granted small tenement EL32964.
1 June 2022business combination● NeutralMajor
Greenvale will buy an initial 51% of geothermal company Within Energy, rising to 100% on milestones, and plans to rename itself Greenvale Energy, subject to shareholder approval. It also agreed in principle to sell 80% of Georgina to Astro Resources, keeping 20%, 19.7% of ARO and a royalty. Strategy shift.
1 June 2022asset acquisition disposition● NeutralMajor
Astro Resources' side of the deal: a conditional letter of intent to acquire 80% of Georgina for 1.15 billion ARO shares (about 19.7%) plus a 2% net smelter royalty. Biddle and Leibowitz would join Astro's board, and CEO Healy and key staff would move over. Astro plans a $2.25M placement.
6 Apr 2022investor presentation● Neutral
CEO Healy presents at the AGES seminar in Alice Springs on Georgina Basin stratigraphy, modelling and IOCG potential. The deck repeats known project information, with no new results disclosed in the visible text.
30 Mar 2022drilling scheduled● Neutral
Assays from the two Twin Peaks holes show elevated multi-element geochemistry, including trace gold in KNRDD002 and copper-bismuth-molybdenum in KNRDD004. The next diamond drilling is set for May at the shallower Mawson and Banks targets in EL32295.
15 Mar 2022half year report▼ Bad
Half-year to 31 December 2021 shows a loss of $5.26M (prior year: $462K profit), mostly $4.67M of non-cash performance rights expense. Net assets were $13.72M. Turner's appointment, the Alpha resource and the geothermal applications are noted as later events.
10 Mar 2022admin correction● Neutral
Re-release of the 9 March Alpha resource announcement at ASX's request, adding a drill hole summary table and extra commentary on the JORC tables. The JORC tables and resource figures are unchanged.
9 Mar 2022resource reserve update▲ GoodMajor
Alpha's maiden JORC resource is out: 18.6Mt inferred at 179 L/t, or 21.29M barrels of synthetic oil, including 4.6Mt of torbanite. It ends the overdue wait since Q4 2021. Greenvale also applied for four geothermal licences as part of a renewable energy strategy.
4 Feb 2022investor presentation● Neutral
CEO Healy presents at the ShareCafe Small Cap 'Hidden Gems' webinar on 4 February 2022, covering Alpha and Georgina. The attached deck is a company overview; the visible text shows 397M shares and no new results or announcements.
21 Dec 2021drilling result▲ GoodMajor
Second Twin Peaks hole KNRDD004 reached 900.9m, extended beyond its 750m design, with hematite-altered rocks like the first hole. Total drilled is 1,697m. Assays are due Jan-Feb 2022. Greenvale was also named successful applicant for licences covering two government drill holes.
14 Dec 2021director officer appointment▲ GoodMajor
Mark Turner, a project-delivery engineer formerly with Jemena, joins as Executive Director and General Manager of Alpha from 10 January 2022 on $350,000 fixed pay. Adds technical depth as the Alpha feasibility study advances.
8 Dec 2021investor presentation● Neutral
CEO Healy presents at the Resources Rising Stars conference. The deck shows 397M shares, price $0.34 (6 Dec), market cap $135M and cash $8.75M. Repeats known information.
8 Dec 2021well test result▲ GoodMajor
Modified Fischer Assay tests on Alpha core gave torbanite oil yields of 290-698 litres per tonne, above the earlier reported 650 maximum. The maiden JORC resource, targeted for Q4, is now expected 'in the coming weeks'. Follows the September sighter retort tests.
30 Nov 2021drilling result▲ GoodMajor
First Twin Peaks West hole KNRDD002 finished at 796.6m, extended ~80m after veining and alteration seen from 720m. It shows oxidised Tennant Creek-style IOCG alteration and trace native copper at ~732.5m. No assays yet; a second hole is underway.
11 Nov 2021investor presentation● Neutral
CEO Healy presents on Alpha at the Connecting Coal online conference. The deck shows 397M shares, price $0.27 (4 Nov), market cap $107.2M and cash $9.07M. Repeats known information.
5 Nov 2021drilling spud▲ GoodMajor
Maiden 3,000m diamond drilling began at Georgina's Twin Peaks West target, after slipping from the September start. Greenvale is the second junior to drill in the East Tennant region. First hole assays are expected late December or early January 2022.
28 Oct 2021investor presentation● Neutral
CEO Healy's Mining the Territory conference presentation on Georgina. It shows 397M shares, price $0.30 (25 Oct), market cap $120M, and 4,523 sq km of tenements. Repeats known facts.
14 Oct 2021investor presentation● Neutral
CEO Matt Healy presents at the Resource Rising Stars conference on 14 October. The deck shows 397M shares, price $0.32 (8 Oct), market cap $127M and cash $9.09M. Repeats known information.
13 Oct 2021security holder rights change● Neutral
Greenvale issued 6.8M Class 2 performance rights, including 5M to CEO Matthew Healy as flagged on 22 July. They vest at $0.50-$0.70 30-day VWAP targets with service periods of one to three years. Completes part of the July proposal.