Past year: ▲ 75%(4.40c – 10.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Feb 2022regulatory community update▲ Good
Origin paid $102,823 for the Peat royalty for Oct-Dec 2021, resolving the earlier unpaid-Peat issue. Central and Santos farmouts to Peak Helium align Dukas and Mt Kitty sub-salt wells. The board is also reviewing its four geothermal licences.
3 Dec 2021security holder rights change● Neutral
HPR adopted a new constitution after shareholders approved it at the 30 November 2021 AGM, and lodged it with ASIC. The announcement gives no detail on what changed.
30 Sept 2021annual report● Neutral
Annual report for the year to 30 June 2021. The excerpt shows the board after the August changes, with Geoffrey King as interim chairman retiring at the 2021 AGM. The financial figures are not in the text provided.
30 Sept 2021annual report● Neutral
Appendix 4G governance checklist, accompanying the annual report. It states the corporate governance statement is on pages 44-48 and is current to 30 September 2021. No new business information.
27 Sept 2021capital raising announcement● NeutralMajor
HPR completed an oversubscribed placement of up to 20m shares at $0.04 to raise $800,000, a 23.1% discount to the last price of $0.052. Directors take $110,000 of it, subject to AGM approval. Proceeds may pay down some of the Macquarie debt and the rest bolsters working capital.
30 Aug 2021director officer appointment● NeutralMajor
David Croll (funds manager) and James Knowles (geologist) joined as non-executive directors. Croll takes no fees. The board intends a full strategic review of the portfolio, following the 18 August chairman change.
18 Aug 2021director officer appointment● NeutralMajor
Andy Carroll stepped down as Chairman but stays as a non-executive director. Deputy Chairman Geoffrey King becomes interim Chairman until a permanent one is found. The board plans a restructure and renewal over coming months.
29 July 2021material agreement▲ Good
HPR negotiated removal of the 10-year limit, making the ScimTek 1% royalty perpetual, covering hydrogen sales and a novel catalyst. Payment is complete, and ScimTek will give fortnightly updates. Improves the terms announced on 6 July.
6 July 2021asset acquisition disposition● NeutralMajor
HPR agreed to pay $300,000 for a 1% royalty on ScimTek Hydrogen sales, capped at $30m over 10 years, plus a first right of refusal on future project funding. A move beyond oil, gas and minerals into green hydrogen.
18 June 2021director officer appointment● Neutral
Joint company secretary Philip Leighfield resigned. Jarrod White, already CFO, continues as company secretary. Administrative change.
30 Apr 2021quarterly activities report● NeutralMajor
March 2021 quarter: revenue $93,085 (up 18%), cash $827,570. Macquarie facility extended three years to 7 December 2024, with US$250k yearly payments and a US$750k final payment. Peat payment from Origin was not received and HPR is seeking clarification.
23 Apr 2021asset acquisition disposition▲ GoodMajor
HPR bought 1.5% gold and 1.5% net smelter royalties over the Admiral Bay zinc leases in Western Australia from Orion Resource Partners for $100,000. First move into minerals; the operator can buy back for $40m adjusted for CPI. Completion expected within 30 days.
16 Mar 2021half year report▼ Bad
Half-year to 31 December 2020: royalty income fell to $183,824 (prior $293,930) and net loss widened to $304,880 (prior $42,610). Cash was $1,026,254 versus $1,843,070 at June 2020. Cites the US exchange rate and no Queensland royalties.
30 Sept 2020annual report● Neutral
FY2020 annual report. Chairman says the stronger closing cash balance will fund further royalty acquisitions, and notes the recent Texas royalty package. Flags a planned follow-up well to Dukas targeting helium and hydrocarbons, and possible Peat production increase from Origin.
30 Sept 2020other● Neutral
Appendix 4G corporate governance checklist lodged with the FY2020 annual report, pointing to pages 47-50. Administrative only.
21 Aug 2020asset acquisition disposition▲ GoodMajor
HPR paid a US$175,000 (about A$250,000) deposit to buy overriding royalties on three leases, over 300 acres, in Jackson County, Texas from TXO Production. First deal from its refreshed acquisition strategy, using the Royalco sale cash.
30 July 2020investor presentation● Neutral
July 2020 Amadeus Basin presentation: says Dukas-1 hit hydrocarbon indications but excess pressure stopped drilling into the target, with a new well planned for 2022. Also notes Mamlambo prospect (P50 24 mmbbl) in PL6. Mostly third-party material; no new HPR result.
13 Mar 2020half year report● Neutral
Half-year to 31 December 2019: royalty income $293,930 (prior $294,007), net loss $42,610 (prior $177,123). Cash was $516,269 at balance date, down from $1,045,908 at June 2019. No significant events reported.
19 Dec 2019asset acquisition disposition▲ GoodMajor
HPR accepted Fitzroy River's offer to buy its Royalco shares at 24 cents, for $1,312,908 cash, about $240k above cost. This converts the 10.68% Royalco stake into cash that may fund royalty acquisitions.
29 Nov 2019investor presentation● Neutral
AGM presentation restates the royalty strategy and known portfolio. Shows 189m shares, cash $1.1m, Royalco stake $1.3m and market cap $18.9m at $0.10. Says Dukas was 'suspended, positive indicators' and Central Petroleum plans 2020 drilling nearby. No new results.
30 Sept 2019annual report▲ Good
FY2019 annual report. Chairman says Planet Gas, a $3.7m acquisition, lifted royalty revenue above running costs. Dukas interim results were encouraging, and Longtom production is expected to resume. Burunga South 2 flow rates are still awaited.
30 Sept 2019other● Neutral
Appendix 4G corporate governance checklist lodged with the FY2019 annual report, pointing to pages 50-53. Administrative only.
15 Mar 2019half year report▲ Good
Half-year to 31 December 2018: royalty income rose to $294,007 (from $105,829) on the Planet Gas acquisition. Net loss $177,123 (prior $233,900). Cash $1,654,984, up from $1,178,186 at June 2018.
13 Mar 2019admin correction● Neutral
HPR re-lodged its 11 March presentation with a broker-report share price target removed, as it was included inadvertently. Investors are told not to rely on it. Administrative only.
11 Mar 2019investor presentation● Neutral
March 2019 presentation repeats the completed Planet Gas deal and known portfolio. Shows 189m shares, cash $1.1m, and Dukas drilling expected in April. Cites a broker valuation of 6.5 cents per share (DCF), later retracted. Nothing new.
7 Dec 2018asset acquisition disposition▲ GoodMajor
HPR completed buying Planet Gas USA for $1 on 7 December 2018, gaining 3% royalties on about 2,400 US wells (over US$30k a month) and assuming the US$15m Macquarie facility, drawn US$2.375m after a US$375k paydown. Resolves the pending October deal.
7 Dec 2018asset acquisition disposition▲ Good
Planet Gas Ltd shareholders approved the sale of Planet Gas USA to HPR on 6 December 2018, with completion imminent. Directors also finished their share subscription, completing the full $1.25m placement flagged on 17 October and funding HPR into 2019.
20 Nov 2018investor presentation▲ Good
November 2018 presentation: Planet Gas completion is due December 2018. Origin's Burunga South 2 reached 3,608 m and confirmed hydrocarbons, now cased and suspended for further testing. Shares 186m, cash over $2.3m.
22 Oct 2018investor presentation● Neutral
October 2018 presentation repeating the Planet Gas acquisition and portfolio. It shows 164m shares rising to 186m after the raise, cash $1.1m rising to over $2.0m, and the Burunga South 2 result due in Origin's 30 October report.
17 Oct 2018capital raising announcement● NeutralMajor
HPR raised $1.25m at $0.05 per share (25m shares) via placement, resolving the raising flagged on 15 October. Directors take 2.9m shares ($145k) subject to AGM approval. Funds may repay part of the Planet Gas debt and strengthen the balance sheet.
