Past year: ▼ 19%(5.10c – 10.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
15 Jan 2025director officer appointment● NeutralMajor
Jin Wei becomes Executive Chairman and Yuqi Cao an Executive Director from 15 Jan 2025. Cao holds roles at Create Capital entities, the name of the December placement investor (inference of link). David Fang resigned as chair, three months after joining.
9 Dec 2024security holder rights change● Neutral
Consolidation completed: shares fell from 2,262,928,126 to 22,629,502 after rounding fractions up. Percentage holdings are unchanged. Holding notices go out 10 Dec 2024.
4 Dec 2024material agreement termination● Neutral
ASF Group's own notice that the undrawn A$200,000 loan facility to Key was terminated by agreement, with no further effect from 4 Dec 2024. Duplicates Key's announcement of the same day.
4 Dec 2024material agreement termination● Neutral
Key and ASF Group mutually terminated the A$200,000 loan agreement signed 18 Oct 2024. Nothing was drawn and no penalties apply. Placement funds raised days earlier mean the loan was not used (inference).
29 Nov 2024capital raising announcement▲ GoodMajor
Key raised A$255,000 before costs by placing 255,000,000 shares at $0.001 each to China Create Capital Holding Group. The money was for developing its Cooper Basin assets ATP924 and ATP920 and for working capital.
What it means for a shareholder
255m new shares at A$0.001 to raise about A$255,000. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (1,000,000 at the issue price), your slice goes from 0.0442% to 0.0397% of the company. To keep it you'd need 112,686 more shares - about A$113 at the issue price.
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28 Nov 2024security holder rights change● Neutral
Formal update confirming shareholder approval of the 100-to-1 consolidation, effective 28 Nov 2024. Shares fall from 2,262,928,126 to an estimated 22,629,281, with the issue date 10 Dec 2024. Resolves the vote pending from October.
28 Oct 2024security holder rights change● Neutral
Appendix 3A.3 formal notice of the proposed 100-to-1 share consolidation: 2,262,928,126 shares become an estimated 22,629,281, subject to approval on 28 Nov 2024. Issue date is 10 Dec 2024. Repeats the main announcement.
28 Oct 2024security holder rights change● NeutralMajor
Key will ask shareholders at the 28 Nov 2024 AGM to approve consolidating shares 100 into 1, cutting 2,262,928,126 shares to about 22.6m. Holders' percentage stakes are unchanged.
28 Oct 2024quarterly activities report▼ BadMajor
Quarter to 30 Sep 2024: Key chose not to apply for a Petroleum Lease over the Lake Eyre exclusion areas (success judged very unlikely). Renewal capped at 28 Feb 2025. It may seek Potential Commercial Area status on the rest. Cash A$90,000.
18 Oct 2024debt financing● NeutralMajor
Key signed an unsecured A$200,000 loan with ASF Group at 10% interest, maturing 18 Oct 2026, for working capital. ASF is a related party (Fang is an ASF director), and this follows the earlier ASF loans that were repaid (inference on relationship).
18 Oct 2024debt financing● Neutral
ASF Group's own announcement of the same A$200,000 unsecured loan facility to Key: 10% interest, maturing 18 October 2026. Duplicates Key's announcement of the same day.
15 Oct 2024director officer appointment● NeutralMajor
Quan (David) Fang (also a director of ASF Group) becomes Non-Executive Chairman and Professor Bingsong Yu joins as a director from 15 Oct 2024. Chair Geoff Baker, Min Yang and Dennis Wilkins resign. AGM set for 28 Nov 2024.
29 Aug 2024other● Neutral
Appendix 4G and corporate governance statement lodged with the annual report. Administrative filing with no new substance.
29 Aug 2024annual report● Neutral
Annual report for year to 30 June 2024. The chair says Queensland's Lake Eyre Basin measures delayed renewals and hit 2% of ATP 920 and 40% of ATP 924, while Alfajor is unaffected. Key keeps seeking farm-in partners and new assets. Text is truncated; no financial figures shown.
30 Apr 2024quarterly activities report▼ BadMajor
Quarter to 31 Mar 2024: Queensland's Lake Eyre Basin exclusion zone covers about 2% of ATP 920 and 40% of ATP 924, including Taj; Alfajor is unaffected. Renewal cannot run past 28 Feb 2025. Cash was A$305,000. This changes the earlier Taj/Alfajor priority plan.
1 Mar 2024half year report▼ Bad
Half year to 31 Dec 2023: loss of $334,147 (versus a $807,411 profit a year earlier, which included a $1.0m gain on the Perth Basin sale). Cash was $480,750. Renewals of ATP 920 and 924 are still awaited.
28 Dec 2023capital raising announcement● NeutralMajor
Key raised A$295,000 before costs by placing 295,000,000 shares at $0.001 each to Ms Wanyan Liu. Funds are for Cooper Basin permits, new venture assessment and working capital. At 1,967,928,126 shares (Dec 2020 count), this adds roughly 15% more shares (inference).
What it means for a shareholder
295m new shares at A$0.001 to raise about A$295,000. That's 15% dilution: every existing holder's slice gets 15% smaller. If you held A$1,000 of shares (1,000,000 at the issue price), your slice goes from 0.0584% to 0.0498% of the company. To keep it you'd need 172,389 more shares - about A$172 at the issue price.
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22 Sept 2023annual report● Neutral
Annual report for year to 30 June 2023. The chair says Key exited the Perth Basin ($1.1m Triangle sale) and now focuses on the Cooper Basin, with renewals of ATP 920 and 924 awaited. Text is truncated; no financial figures are shown.
22 Sept 2023other● Neutral
Appendix 4G and corporate governance statement lodged with the annual report. Administrative filing with no new substance.
14 Sept 2023other● Neutral
Computershare's Perth office moves to a new address from 18 September 2023. Administrative notice with no effect on Key's business.
22 June 2023other● Neutral
Key moved its registered office and principal place of business to Suite 2, 3B Macquarie Street, Sydney, effective 22 June 2023. Administrative notice.
20 Apr 2023capital raising announcement● Neutral
Key will run a 12-month on-market share buy back from 8 May 2023, for up to 196,792,813 shares. No price is given.
30 Mar 2023asset acquisition disposition▲ GoodMajor
Key received the final 31,378,015 Triangle shares, completing payment of the $1.1m Perth Basin sale, and sold them on 27 March 2023 for net $562,319. This resolves the open Triangle share thread and turns it into cash.
8 Mar 2023half year report● Neutral
Half-year to 31 December 2022: revenue and other income $1,146,200 and a result of $807,411, with the Perth Basin sale to Triangle completed. Cash was $95,238. The ASF loan was drawn a further $150,000 and repaid in full, and stays available to 31 December 2023.
30 Sept 2022asset acquisition disposition▲ GoodMajor
Key completes the sale of its subsidiaries holding L7 and EP 437 to Triangle. It has received A$600,000 cash and will receive A$500,000 of Triangle shares by 30 June 2023. This ends the long-delayed sale and Key's Perth Basin exposure.
27 Sept 2022annual report● Neutral
Annual report for year to 30 June 2022. The chairman says Key has sold WA-481-P and the L7/EP 437 interests and is now focused on its Cooper-Eromanga Basin permits ATPs 920, 924 and 783. Text is truncated; no financial figures given.
27 Sept 2022other● Neutral
Appendix 4G and corporate governance statement lodged with the annual report. Administrative filing with no new substance.
21 Sept 2022asset acquisition disposition▲ GoodMajor
Key replaces its January 2021 sale agreement with a new share sale deal with Triangle, selling the subsidiaries holding L7 and EP 437 for $1.1m total: $100,000 owing, $500,000 cash at completion, and $500,000 of Triangle shares by 30 June 2023.
21 Sept 2022asset acquisition disposition● Neutral
Triangle's version of the deal: it completes buying Key's L7 and EP 437 interests and buys back Key's 5% royalty, for the same $1.1m. Drilling is expected early 2024. This shows the royalty Key had kept is included in the sale.
16 June 2022asset acquisition disposition▼ Bad
The L7/EP 437 sale cut-off is extended again, from 30 June to 30 September 2022, with completion expected sooner. The remaining $100,000 is payable at completion. Key says it is refocusing on Cooper Basin gas.
