Past year: ▼ 82%(0.20c – 1.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
10 Feb 2017security holder rights change● Neutral
Confirms the consolidation is complete, leaving 118,000,025 ordinary shares on issue. All other unlisted securities, including the Class B and C shares and options, have lapsed or not met milestones and are nil.
10 Feb 2017security holder rights change● Neutral
Consolidation done: ordinary shares now 118,000,025 (from 236M), with figures marked actual. Unlisted classes were also halved in this notice. Repeats the approval already announced.
6 Feb 2017security holder rights change▲ Good
Shareholders approved the 2-into-1 consolidation at the 6 February 2017 meeting. This clears a condition for the Texas acquisitions and rights issue; the timetable is unchanged from the earlier update.
30 Jan 2017quarterly activities report● Neutral
December 2016 quarter: due diligence ended in the 5 January 2017 signing of the two Texas oil project deals, backed by the A$18.88M rights issue plan. Cash fell to $471K from $544K. Michael Placha is no longer listed among directors.
10 Jan 2017security holder rights change● Neutral
Updated consolidation timetable: record date moved to 9 February 2017 and effective date to 8 February. The 2-into-1 ratio and share numbers are unchanged. Timing change only.
9 Jan 2017security holder rights change● Neutral
Notice of a 2-into-1 share consolidation, needed for the planned Texas acquisitions and rights issue. Ordinary shares would fall from 236M to 118M, subject to shareholder approval on 6 February 2017.
5 Jan 2017asset acquisition disposition▲ GoodMajor
Signs conditional deals for two Texas oil projects: 100% of 3,118 net acres (Trinity) and a drill-to-earn 70% of 6,280 net acres (Presidio). Price is US$1.45M cash plus 240M post-consolidation shares and performance rights. Funded by a rights issue of up to A$18.88M at 2c, minimum A$12M. Ends the search for a project.
31 Oct 2016quarterly activities report● Neutral
September 2016 quarter: due diligence is under way on an oil and gas opportunity in the United States, the first specific target after a long search. Cash fell to $544K from $578K. Shares stay suspended pending Chapters 1 and 2 compliance.
29 Sept 2016annual report● Neutral
Annual report for the year to 30 June 2016: loss of $188,579 against a $3,006,578 profit the year before. Shares remain suspended and the board has still found no suitable transaction, so it keeps evaluating projects to meet Chapter 12.
29 Sept 2016other● Neutral
Appendix 4G corporate governance checklist for the year to 30 June 2016, pointing to pages 42 to 48 of the annual report. No new information on operations or finances.
1 Aug 2016quarterly activities report● Neutral
June 2016 quarter: the search now focuses on mining resources and oil and gas, and the company refers to meeting Chapters 1 and 2 of the Listing Rules, which suggests a new-business listing route (inference). Cash was $578K. Still suspended.
2 May 2016quarterly activities report● Neutral
March 2016 quarter: the board keeps evaluating technology, finance and advanced mining projects, with shares still suspended. Cash was $609K, down from $647K. No deal announced.
9 Mar 2016half year report▼ Bad
Half-year to 31 December 2015 shows a loss of $113,486, against a $3,127,773 profit a year earlier. The prior-year profit included a $3.3M item, which is not explained in the extract. Shares remain suspended and no deal has been found.
29 Jan 2016quarterly activities report● Neutral
December 2015 quarter: still suspended, and no suitable transaction identified. Cash was $647K, down from $725K. The board continues evaluating projects so it can meet Chapter 12 and return to trading.
29 Oct 2015quarterly activities report● Neutral
September 2015 quarter: shares were suspended on 13 October 2015 and the board is still evaluating technology, finance and advanced mining projects. Cash fell to $725K from $779K, with about $50K of spending expected next quarter.
14 Oct 2015listing compliance notice▼ Bad
The company explains the suspension: ASX judged its current operations too small to keep the listing. The board says it will keep seeking a deal to meet Chapter 12 and win reinstatement. No transaction has been completed.
13 Oct 2015listing compliance notice▼ BadMajor
ASX suspended the company's shares from 13 October 2015 under Listing Rule 17.3. They stay suspended until it shows compliance with Chapter 12. This follows months of searching for a new project with no deal, after Kinney was handed back.
29 Sept 2015annual report● Neutral
Annual report for the year to 30 June 2015. It reports a profit of $3,006,578 against a $22,431,381 loss the year before, and confirms Kinney was handed back to Carbon Resources. The company is still looking for new projects in any sector.
29 Sept 2015other● Neutral
Appendix 4G corporate governance checklist, pointing to pages 44 to 50 of the annual report. No new information on operations or finances.
29 Sept 2015annual report● Neutral
Amended re-lodgement of the 30 June 2015 annual report. The extract shows the same content as the original (profit $3,006,578); what was amended is not visible in the text.
27 July 2015quarterly activities report● Neutral
June 2015 quarter: the company has no mining interests. It reviewed projects in technology, finance and advanced-stage mining but announced no deal. Cash at quarter-end was $779K.
12 June 2015other● Neutral
Computershare, the share registry, notifies a change of its Perth office address from 15 June 2015. No substance for shareholders beyond the new lodgement address.
12 June 2015other● Neutral
Re-release of the Computershare notice of its Perth office move from 15 June 2015. No new information.
23 Apr 2015quarterly activities report● Neutral
March 2015 quarter: the Kinney project has now been transferred back to Carbon Resources in full satisfaction of the APA. The company holds no mining permits. It is evaluating new projects, with cash of $839K.
16 Mar 2015half year report● Neutral
Half-year to 31 December 2014 shows a profit of $3,127,773, against a $378,057 loss a year earlier. The extract doesn't explain the profit (inference: it may relate to the Kinney handback). The Kinney return to Carbon Resources is noted as a later event.
30 Jan 2015quarterly activities report● Neutral
December 2014 quarter: no firm investor proposals for Kinney, and the decision after the quarter to return it to Carbon Resources is recapped. Cash was $873K. The board continues to look at new projects in all sectors.
8 Jan 2015asset acquisition disposition▼ BadMajor
After talks with Carbon Resources to vary the APA failed, the company will hand Kinney back to the vendor instead of paying US$1M. It keeps no interest and no ongoing commitments. This ends the project that was the company's focus; the board will now look at new projects.
24 Nov 2014resource reserve update● Neutral
Addendum to the annual report restating the Kinney resource of about 110.6Mt, made up of 54.7Mt at Long Canyon and 55.8Mt at the LBA. The resource was not updated to JORC 2012, and the addendum repeats the risk of losing the project if APA payments aren't made.
22 Oct 2014quarterly activities report● Neutral
September 2014 quarter: the entitlement offer completed, but no firm investor proposals were received for Kinney. The $100,000 loan from Oakhurst was repaid from the proceeds. Cash at quarter-end was about $1.01M. The risk of losing Kinney under the APA remains.
30 Sept 2014annual report● Neutral
Annual report for the year to 30 June 2014. It restates that Kinney is still being financed or sold and that the project could revert to the vendor if the APA notes aren't paid. New projects in any sector are being considered. Financial figures aren't in the extract.
