29 Sept 2023annual report▲ Good
Annual report for year to 30 June 2023: profit of $492,920 versus a $758,972 loss the prior year. An August 2023 buy-back cancelled 896,685 small-parcel shares for $60,975. Knowles is listed as Executive Chairman.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Sept 2023annual report● Neutral
Appendix 4G governance checklist accompanying the annual report. The governance statement is on the company website, current to 29 September 2023. No new business information.
15 Sept 2023admin correction● Neutral
Notice that the Perth office of the share registry, Computershare, moves address from 18 September 2023. No business information.
31 July 2023quarterly activities report▼ BadMajor
June 2023 quarter gross receipts were A$443,000 and closing cash was A$1,462,850, with US$1.0m still owed to Macquarie. Central said Peak Helium, which had farmed into EP112 and EP125 on 31 March 2023, was over $3m overdue, putting the three sub-salt wells at risk and suspending planning. HPR expected a delay.
26 July 2023director officer appointment● NeutralMajor
Chairman James Knowles becomes Executive Chairman, on $95,000 a year via his own company, backdated to 1 January 2023. He is also to receive 4 million performance shares (price, deal and dividend hurdles), subject to shareholder approval. The two other directors stay non-executive.
28 Apr 2023quarterly activities report● Neutral
March 2023 quarter: receipts $271,283 and cash $1,205,010. A US$178,501 Pioneer payment withheld in 2022 was released. Macquarie balance stays US$1.0m. The four South Australian geothermal licences were renewed, but over 50% of each area had to be relinquished; applications to retain it were lodged.
21 Apr 2023resource reserve update▲ GoodMajor
HPR compiled Central's 18 April resource estimates for the Jacko Bore (EP125) and Dukas (EP112) sub-salt prospects on a 100% basis. It holds a 1.0% royalty over all gas from both. Santos will operate, with drilling targeted for late 2023 or early 2024.
12 Apr 2023farm in farm out completion▲ GoodMajor
The Peak Helium farmout over Central's Amadeus permits completed on 31 March 2023, with Peak funding two sub-salt wells. Mt Kitty (now Jacko Bore) drilling is planned for 2023/24 and Dukas for 2024, later than the 2023 earlier expected. HPR holds a 1% royalty.
15 Mar 2023half year report▲ Good
Half-year to 31 December 2022: profit of $83,446 versus a $75,128 loss a year earlier. Eight royalties generated income. The report notes the Macquarie facility as a possible funding source for acquisitions.
31 Jan 2023quarterly activities report● Neutral
December 2022 quarter: US royalty receipts $266,508 and a US$250,000 Macquarie repayment, cutting the balance to US$1.0m. HPR received $21,840 from its Peat-area ATP525 royalty. No material Northern Territory developments, and geothermal renewals are in final stages.
10 Nov 2022director officer appointment● NeutralMajor
James Knowles, a geologist director, replaces David Croll as Chairman, ending the interim arrangement in place since November 2021. Croll stays as a non-executive director. Louisa Ho becomes Company Secretary, while Jarrod White remains CFO.
31 Oct 2022quarterly activities report● Neutral
September 2022 quarter: receipts $273,421 and cash $1,224,518. No Macquarie principal repaid, with US$1.25m owing. No material developments on Northern Territory permits, and geothermal licence renewals are still in progress.
30 Sept 2022annual report● Neutral
Annual report for the year to 30 June 2022: loss of $758,972 versus $1,296,837 the prior year. After year-end, Santos withdrew from EP 115 and assigned its 40% to Frontier Oil & Gas, which assumed HPR's royalty there.
30 Sept 2022annual report● Neutral
Appendix 4G governance checklist accompanying the annual report. The governance statement is on the company website and current to 30 September 2022. No new business information.
24 Aug 2022material agreement● NeutralMajor
HPR's subsidiary GEO Capital was approved to participate in the Verra registry via the CBL exchange, so it can buy and trade carbon credits. HPR plans to allocate up to $300k over the coming financial period, diversifying beyond oil and gas royalties.
29 July 2022quarterly activities report● Neutral
June 2022 quarter: cash receipts $302,148 and year-end cash $1,105,422. No Macquarie principal repaid, with US$1.25m still owing. Geothermal licence renewals were lodged with reduced areas, and a technical report was completed under the strategic review.
20 June 2022production update▲ Good
HPR says it is on track for a record year of royalty receipts, with over $800,000 in cash received to 31 May 2022 and cash above $1m. Dukas and Mt Kitty wells are planned for 2023 under the Peak Helium farmout.
29 Apr 2022quarterly activities report▲ Good
March 2022 quarter: receipts $296,919, a significant rise on the prior quarter, and cash $910,126. No Macquarie principal was repaid, with US$1.25m still owing. Year-to-date royalty acquisitions were $400k.
16 Mar 2022half year report▲ Good
Half-year to 31 December 2021: royalty income rose to $437,375 (prior $183,824) and net loss narrowed to $75,128 (prior $304,880). Cash was $735,796 after the US$250,000 Macquarie repayment and the October placement.
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.
31 Jan 2022quarterly activities report● Neutral
December 2021 quarter: cash receipts about $160,000 and cash $734,000. David Croll became interim Chairman after King and Carroll left. HPR paid US$250,000 of principal to Macquarie, leaving US$1.25m owing. Origin has now paid, and Santos agreed an Amadeus farmdown to Peak Helium.
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.
29 Oct 2021quarterly activities report● Neutral
September 2021 quarter report. Chairman Geoffrey King and director Andrew Carroll will resign at the 30 November AGM, the founding directors from the Phoenix merger of 2014. The $800,000 placement is confirmed ($690,000 received), and the strategic review continues.
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.
30 July 2021quarterly activities report● Neutral
June 2021 quarter: revenue $119,367 (up 28%), cash $771,073. After quarter-end HPR paid $100,000 for Admiral Bay and $300,000 for the hydrogen royalty. Peat payment from Origin is still unpaid and under query.
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.