Past year: ▲ 0%(0.40c – 0.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Aug 2022registration revoked▼ BadMajor
New Standard was removed from the ASX official list from close of trading on 26 August 2022 for not paying its 2022/23 annual listing fees. Its shares had been suspended since October 2019, and the announcement gives no information on any exit or trading arrangement for holders.
22 Aug 2022listing compliance notice▼ BadMajor
ASX lists New Standard among already-suspended companies that have not paid 2022/23 annual listing fees. Unless paid by 26 August 2022, it will be removed from the official list. This repeats the 2021 fee warning, which the company then evidently got past.
27 Sept 2021admin correction● Neutral
Corporate governance checklist (Appendix 4G) lodged with the 2021 annual report, pointing to pages 12-17 and the company website. Administrative form with no new information.
27 Sept 2021annual report● Neutral
2021 annual report: year-end cash $63,140, no borrowings, directors' fees still suspended. Environmental audit report went to DMIRS in March 2021. Goals remain a major new project, a major capital raise, resuming ASX trading and continued rehabilitation. Notes the death of director Xiaoning Lin.
7 Sept 2021director officer appointment▼ Bad
Non-executive director Xiaoning Lin, appointed in 2019, has died following a car accident. The board extended condolences. No replacement is mentioned.
23 Aug 2021listing compliance notice▼ BadMajor
ASX lists New Standard among already-suspended companies that failed to pay annual listing fees for 2021/22. Unless paid by 27 August 2021, it will be removed from the official list.
16 Mar 2021half year report● Neutral
Half-year to 31 December 2020: cash $163,529, no debt, directors' fees still suspended. Site inspections found conditions as expected and an environmental audit report is under preparation. Financial statements are not in the text provided.
30 Oct 2020annual report● Neutral
2020 annual report: cash $292,424, no borrowings. Goals are a new major project, a major capital raise, resuming ASX trading and starting rehabilitation. A rehabilitation provision (stated as $970,690 for 2019) was retrospectively booked, resolving the earlier audit qualification.
30 Oct 2020admin correction● Neutral
Corporate governance checklist lodged with the 2020 annual report, pointing to pages 11-16 and the company website. Administrative form with no new information.
30 Sept 2020other▼ Bad
Unaudited accounts for the year to 30 June 2020 released, with the audit lodgement extended under ASIC COVID-19 relief. They show a loss of $361,832, cash $292,424 and a $1,045,480 rehabilitation provision, with the 2019 comparatives restated.
18 Aug 2020regulatory community update▼ BadMajor
The company chose not to renew EP481, which has expired, leaving it with no exploration permits. Unlike EP482, which DMIRS refused, this was the company's own decision. Rehabilitation of the old well sites continues.
13 Mar 2020half year report● Neutral
Half-year to 31 December 2019: cash $401,855, no debt, directors' fees still suspended since February 2015. Company continues to review new opportunities and work with DMIRS on rehabilitation. Financial statements are not in the text provided; the rehabilitation liability booking is not shown.
30 Jan 2020quarterly activities report● NeutralMajor
December quarter: a $400,000 placement at 0.6c was completed, lifting shares to 888.7m and cash to about $402,000. The rehabilitation site visit slipped to early 2020; shares stay suspended with no relisting date, and EP482 has lapsed.
14 Oct 2019listing compliance notice▼ BadMajor
ASX suspended the company's shares immediately. They stay suspended until it shows it can reliably estimate its rehabilitation obligations, has the financial capacity to meet them, and complies with Listing Rule 12.2.
14 Oct 2019regulatory community update▼ BadMajor
DMIRS refused the renewal of EP482, so the permit has expired, leaving EP481 as the only exploration permit. This resolves the open EP482 renewal thread against the company. Rehabilitation continues and project talks are not yet disclosable.
11 Oct 2019listing compliance notice▼ Bad
Replying to ASX about the auditor's qualified opinion, the company says it has not booked a rehabilitation liability because site visits are needed first. Visits are planned for November 2019, with a liability to be booked in the December 2019 half-year. Project discussions are not yet disclosable.
30 Sept 2019annual report● Neutral
2019 annual report: cash $210,623, no debt. Goals are a major new project, resumed Western Australian exploration, starting rehabilitation and a major capital raise. Sundance shares worth about $32,000. Murcia Pestell Hillard is listed alongside BDO as auditor. A qualified audit opinion is referred to in later ASX correspondence.
30 Sept 2019admin correction● Neutral
Corporate governance checklist lodged with the 2019 annual report, pointing to the governance statement on pages 14-19 and the company website. Administrative form with no new information.
7 Aug 2019listing compliance notice▼ Bad
Replying to an ASX query on its cash position (quarterly outflow $55,000, cash $211,000), the company expects continued negative cash flow. It says it is looking at projects in Morocco and South Sudan, none ready to announce, and believes it can raise further funds.
9 May 2019capital raising announcement● NeutralMajor
Completed a $204,134 placement of 34.0m shares at 0.6c to sophisticated investors introduced by the board. Funds are for new opportunities, DMIRS obligations and working capital. Shares on issue rise to 822.1m, after cash had fallen to about $64,000.
What it means for a shareholder
34.0m new shares at A$0.006 to raise about A$204,134. That's 4.5% dilution: every existing holder's slice gets 4.5% smaller. If you held A$1,000 of shares (166,667 at the issue price), your slice goes from 0.0233% to 0.0222% of the company. To keep it you'd need 7,910 more shares - about A$47 at the issue price.
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25 Mar 2019director officer appointment● Neutral
Xiaoning Lin, Managing Director of Goldfields Oil and Gas, joins as a non-executive director, and Chee Ho Ho resigns. The new director will not be paid until the company implements its strategy.
15 Mar 2019half year report● Neutral
Half-year to 31 December 2018: cash $119,344, no debt, directors' fees still suspended. The company is reviewing diversification opportunities and working with DMIRS on work programs and rehabilitation. Financial statements are not in the text provided.
27 Sept 2018admin correction● Neutral
Corporate governance checklist lodged with the 2018 annual report, pointing to the governance statement on pages 15-20 and the company website. Administrative form with no new operational or financial information.
27 Sept 2018annual report● Neutral
2018 annual report: cash $383,515, no debt. EP481 extended to August 2020, EP482 renewal pending. Rehabilitation deadlines set; settled Precision litigation; $429,851 placement. Targets a major new project and a higher share price. Directors remain unpaid.
13 Sept 2018regulatory community update▲ GoodMajor
The regulator extended exploration permit EP481 to 15 August 2020, securing one of the two remaining permits. EP482's renewal is not mentioned in this announcement.
6 Sept 2018regulatory community update● NeutralMajor
Both permits stay valid while renewals are decided. The regulator has set rehabilitation deadlines for the historic wells of 15 August 2020 and 30 November 2019. This sets a firm timeline for the open rehabilitation thread.
22 June 2018capital raising announcement▲ GoodMajor
Completed a $429,851 placement of 71.6m shares at 0.6c to sophisticated investors introduced by the board, taking shares on issue to 788.1m. Funds are for new opportunities, DMP obligations and working capital. It follows the December 2016 rights issue at 0.4c.
What it means for a shareholder
71.6m new shares at A$0.006 to raise about A$429,851. That's 9.1% dilution: every existing holder's slice gets 9.1% smaller. If you held A$1,000 of shares (166,667 at the issue price), your slice goes from 0.0233% to 0.0212% of the company. To keep it you'd need 16,657 more shares - about A$100 at the issue price.
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14 Mar 2018half year report● Neutral
Half-year to 31 December 2017: cash $206,919, no debt, and no directors' fees paid. The company is engaging sophisticated investors for a placement to fund new opportunities, DMP obligations and working capital. Financial statements are not in the text provided.
16 Jan 2018other▲ GoodMajor
The 2013 Precision Catering litigation against subsidiary NSO, claimed at about $1.2m, has been settled and dismissed. Terms are confidential but stated to have no material impact. This resolves a legacy liability.
21 Dec 2017director officer appointment● NeutralMajor
Board overhaul: Kunfang Liu becomes chairman, with Ming Li, Chee Ho Ho and Peng Zhang as directors. Chairman Song, Han, Zhang and Bruce Li resigned. The new board will keep stabilising the company while seeking growth, and will go unpaid until its strategy is implemented.
