Past year: ▼ 62%(2.10c – 5.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Mar 2023joint venture update● NeutralMajor
Greenvale hires the University of Jordan to run the final two Alpha liquefaction test programs, after delays at Australian labs. The pre-feasibility study slips from late Q1 to Q2 2023. Early results show higher temperatures improving conversion without catalyst.
10 Feb 2023drilling result▲ Good
Astro reports assays from the two holes Greenvale drilled in 2022 at Georgina. Leichhardt West returned 0.22% copper over 0.25m and 0.15% copper at the end of the hole, with elevated bismuth and silver. Astro says this may be the edge of an IOCG system. Leichhardt East assays are pending.
1 Feb 2023capital raising announcement▲ GoodMajor
Greenvale raises $4M from US investor Pioneer Resource Partners as a prepayment for $4.32M of shares, issued within 24 months at the investor's request. Initial price is $0.35, resetting after 20 March to a discount to market, with a $0.07 floor. Funds go to the Alpha study and pilot plant.
27 Jan 2023quarterly activities report● Neutral
December quarter: second round of Alpha Parr reactor tests finished with encouraging early signs, results due February, and the feasibility study is still targeted for Q1 2023. The Georgina sale closed for 46M Astro shares, with Greenvale keeping 20% and a 2% royalty.
16 Dec 2022director officer appointment● NeutralMajor
Chairman Tony Leibowitz retires from the board on 31 December 2022 for personal commitments. Director Neil Biddle, formerly managing director, becomes non-executive chair from 1 January 2023. The board shrinks to three: Biddle, Turner and Khouri. The Alpha study is still said to be on track for Q1 2023.
12 Dec 2022asset acquisition disposition▲ GoodMajor
Astro confirms it finalised buying 80% of Knox (Georgina) from Greenvale as at 28 November, after its 16 November shareholder approval. Greenvale receives 46,000,000 Astro shares, allotted 12 December. This completes the sale agreed in September.
12 Dec 2022drilling result▲ Good
Astro, now 80% owner of Georgina, completed its first hole at Leichhardt East to 699.8m, finding ironstones, IOCG-style alteration and bornite and chalcopyrite copper minerals. Greenvale retains 20%. Assays are not yet reported; the geology is encouraging but no grades are given.
28 Nov 2022admin correction● Neutral
Shareholders approved changes to the company constitution at the 25 November AGM, and the amended document is lodged as the listing rules require. The excerpt shown does not describe what was changed.
28 Nov 2022investor presentation● Neutral
CEO Mark Turner will present at the Resources Rising Stars series in Sydney (29 November) and Melbourne (1 December), with slides attached. The visible text is mostly disclaimers and shows no new results.
28 Nov 2022other● Neutral
Shareholders approved the change of name at the 25 November AGM, and ASIC has processed it: Greenvale Mining Ltd becomes Greenvale Energy Ltd, effective on ASX 30 November 2022. The ASX code stays GRV.
31 Oct 2022quarterly activities report● Neutral
September quarter report: Alpha liquefaction tests produced bitumen-grade heavy oil with less gas, refined testing continues and the pre-feasibility study is on track for Q1 2023. Georgina drilling is paused pending the Astro sale. Within Energy ended; Millungera resource confirmed. Cash figures not visible in the text.
31 Oct 2022capital raising announcement● NeutralMajor
The share purchase plan raised about $1.47M, short of the $2.4M target, from 117 holders at $0.06. All applications are filled, issuing 24,444,050 new shares on 3 November. With the director loan, management says the Alpha study should be funded.
20 Oct 2022debt financing● NeutralMajor
Directors Biddle and Khouri provide a $3.0M unsecured loan facility at 12% a year, repayable at the next capital raising or 18 months after final draw-down. The SPP close is extended to 28 October after a faulty registry link. Described as backstop funding in a challenging equity market.
14 Oct 2022director officer appointment● Neutral
Vincent Fayad, a former Greenvale director and secretary (2014-2020), is appointed joint company secretary alongside Kurt Laney. He is also Executive Director of Astro. Alan Boys has now retired, as announced 25 August.
5 Oct 2022agm notice● Neutral
The 2022 annual general meeting will be held in Sydney on 25 November 2022. Director nominations close 12 October. Notice of meeting to follow.
4 Oct 2022capital raising announcement● Neutral
The share purchase plan opens 5 October with the offer booklet issued: up to $30,000 per eligible holder at $0.06, targeting $2.4M, closing 21 October. Terms repeat the 28 September launch; the booklet notes a cap of 119,183,447 shares.
30 Sept 2022annual report● Neutral
2022 annual report. Chairman says the year was hit by COVID disruption, retorting gave suboptimal outputs so liquefaction is being pursued, and the Alpha feasibility study is due next March. The Georgina sale to Astro is described as 80% for about 19.9% of Astro, with a two-year option on the remaining 20%.
30 Sept 2022annual report● Neutral
Appendix 4G governance checklist for the year to 30 June 2022, lodged with the annual report. It points to the governance statement on the website. No new business information.
28 Sept 2022capital raising announcement● NeutralMajor
Greenvale launches a share purchase plan to raise up to $2.4M at $0.06 per share (15% discount), up to $30,000 each. Cash was $2.45M. Funds go to the Alpha pre-feasibility study (Q1 2023) and geothermal work. Not underwritten.
20 Sept 2022asset acquisition disposition● NeutralMajor
Greenvale signed definitive agreements to sell 80% of Knox (Georgina Basin) to Astro, terms unchanged from 1 June. Completion awaits Astro shareholder approval at a late October meeting. Only Chairman Leibowitz joins Astro's board; Greenvale will fund 20% of a later work program.
20 Sept 2022farm in farm out agreement● Neutral
Astro Resources says it has signed definitive documents to buy 80% of Knox, which holds the Georgina Basin IOCG project, on terms matching 1 June. Completion needs Astro shareholder approval, expected around early November 2022. Counterparty-side release of the Greenvale announcement.
16 Sept 2022investor presentation● NeutralMajor
Greenvale sets out a 'dual-lane' roadmap: Alpha pre-feasibility study in Q1 2023, geothermal permits expected Q1/Q2 2023 and Millungera drilling in Q2 2023 to about 2km. It targets Alpha commissioning in late 2025 or early 2026, with a 10MW Julia Creek plant to supply offsets.
6 Sept 2022regulatory community update▲ GoodMajor
Greenvale won two Queensland exploration permits (Julia Creek and Longreach, five years from 29 August 2022). An independent review backed a government estimate of over 611,000 petajoules of inferred stored heat in the Millungera Basin. Drilling-type fieldwork is planned for first half 2023; geothermal permits (EPGs) still await grant.
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.
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.
29 July 2022quarterly activities report● Neutral
June quarter report: Alpha retort testing is complete and initial Parr Reactor tests are done, with more planned for August. The board says Georgina no longer fits its asset profile, hence the 80% sale to Astro. Cash figures not visible in the text.
