15 Feb 2011other● Neutral
Notice of a Boardroom Radio audio broadcast of a company update by Managing Director Torey Marshall. No new information in the notice.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Feb 2011capital raising announcement▲ GoodMajor
Socius CG II signed a $5m investment agreement, mainly to start Copahue feasibility work. The first $2m buys 25,316,456 shares at 7.9c plus 12,658,228 options at 7.9c. Two further tranches, $2m and $1m, can be called later at then-market prices.
What it means for a shareholder
25.3m new shares at A$0.079 to raise about A$2.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
9 Feb 2011other● Neutral
Re-release of a Boardroom Radio notice with a corrected link, now for an interview titled 'US investors interested in Earth Heat'. No new information in the notice.
9 Feb 2011other● Neutral
Notice of a Boardroom Radio audio broadcast of a company update by Managing Director Torey Marshall. No new information in the notice.
8 Feb 2011other● Neutral
An independent New York firm, Arrowhead (ABID), produced a valuation report on the company, giving a range of 36.4c to 96.4c per share. The company is promoting the report; it is not an audited or company valuation.
28 Jan 2011quarterly activities report● Neutral
December quarter: Fiale JV and power purchase talks continue, slowed by French-English translation. Copahue contract signing has been delayed by the provincial authority. Talks with potential investors continue. 20m shares were issued, including a 10m placement raising $250,000.
7 Jan 2011security holder rights change● Neutral
Notice that a voluntary restriction on 6,341,463 shares expires 22 January 2011, while the wider extension to January 2012 announced in December stands. Issued capital is 540,314,222 quoted shares plus 3,901,965 unquoted.
23 Dec 2010other● Neutral
Amended version of the directors and officers share trading policy. Administrative only; the visible text matches the earlier version and the changes are not identifiable.
17 Dec 2010annual report● Neutral
Annual report for the year to 30 September 2010. The chairman describes the year as one of change, with the shift to new energy and 180MW of potential projects, and says a possible Toronto Stock Exchange listing in 2011 has begun. Financial figures not in the readable text.
17 Dec 2010security holder rights change▲ Good
Major shareholders and the board agreed to extend voluntary escrow on their shares from 22 January 2011 to 22 January 2012. The extension ends if shareholders force more than one of three named directors off the board.
17 Dec 2010other● Neutral
Administrative release of the directors and officers share trading policy, setting trading windows and blackout periods. No business or financial substance.
6 Dec 2010other● NeutralMajor
Corporate update: the company is considering a secondary listing such as the TSX, as it says ASX investors are less focused on new energy. Confidentiality agreements are signed with potential cornerstone investors; financing of up to $70m is under discussion, but no arrangement has been agreed.
11 Nov 2010investor presentation● Neutral
Presentation promoting 180MW of operated projects (Fiale in Djibouti, Copahue in Argentina). Shows 534m shares, a 4.5c price, A$24.5m market cap and A$300,000 cash with no debt. Copahue funding is still under discussion. Largely repeats earlier material.
11 Nov 2010investor presentation● Neutral
Re-release of the same day's investor presentation to correct an error. The visible change is to the Fiale exploration history slide; content otherwise matches the earlier version.
29 Oct 2010quarterly activities report● Neutral
September quarter: Copahue was awarded in July, with the definitive contract now expected to be signed in the December quarter. The South Australian licences were suspended for 12 months, citing market conditions. West Florence sale completed for A$75,000; Baxter royalty talks unresolved.
28 Oct 2010other● Neutral
Notice that Managing Director Torey Marshall was interviewed by O Six Media about the Djibouti JV, with a podcast on the website. No new information beyond the 22 October announcement.
22 Oct 2010joint venture update▲ GoodMajor
Signed a binding term sheet for a JV with Djibouti's energy ministry and Electricite de Djibouti to develop the Fiale geothermal field, up to 150MW in three tranches, starting with 50MW. Also placed 10m shares at 2.5c. Power purchase agreement and funding are still to be finalised.
16 Aug 2010investor presentation● Neutral
Presentation adding Africa to the company's assets. It shows a 3.8 cent share price, A$19.77m market cap, A$400,000 cash and no debt, with 524m shares. Copahue funding is still under discussion.
3 Aug 2010asset acquisition disposition● NeutralMajor
Heads of Agreement to expand into Africa: apply for geothermal areas in Kenya, pursue Djibouti tenements, and take over Botswana coal bed methane applications. It will issue 9,125,000 escrowed shares, and Alex Rose-Innes joins as executive director.
30 July 2010other● Neutral
Fall River changed its name to Earth Heat Resources Ltd, trading under the new ASX code EHR from 29 July 2010. A new website is live. This reflects the move to geothermal.
22 July 2010quarterly activities report● Neutral
June quarter: Copahue was formally awarded to partner Geothermal One after quarter end, but a performance guarantee must be lodged before the contract is signed. Approval was received for field work at Mt Grainger. A name change is planned.
9 July 2010investor presentation● Neutral
Updated presentation showing 524m shares, a 2 cent price, A$10.5m market cap, A$866,000 cash and no debt. It says funding for the Copahue farm-in is still under discussion. Otherwise it repeats earlier material.
23 June 2010asset acquisition disposition● NeutralMajor
Fall River agreed to sell its 25% West Florence interest in Colorado to Adelaide Energy for A$75,000, payable within a month. This continues the exit from US oil and gas; the Wyoming asset is still under review.
10 June 2010half year report● Neutral
Half-year report to 31 March 2010, covering the Earth Heat acquisition and the board changes. Norman Zillman joined the board on 26 February 2010, and the auditor is now K S Black & Co. Financial figures were not in the readable text.
21 May 2010investor presentation● Neutral
Investor presentation promoting the Copahue farm-in as the most advanced geothermal development opportunity of any ASX-listed explorer, citing a 25% IRR over 30 years. Norm Zillman is shown as a non-executive director. It largely repeats the 13 May announcement.
17 May 2010other● Neutral
Notice that Managing Director Torey Marshall was interviewed by O Six Media about the Copahue heads of agreement. The notice adds no new information.
13 May 2010farm in farm out agreement▲ GoodMajor
Heads of Agreement to farm into the Copahue geothermal project in Argentina, an initial 30 MW development. Fall River can earn 50% by spending about US$18m, then 75% with a further US$35m, and up to 87.5%. It depends on Geothermal One winning the award, expected within 6 weeks.
29 Apr 2010quarterly activities report● Neutral
March quarter: after the Earth Heat deal, the company reviewed its business and says it fixed legacy operational and administrative problems. It holds 8 South Australian licences (about 3,850 km2); mapping at Mt Grainger comes first, with exploration to start in the June quarter. It is also seeking overseas geothermal projects.
20 Apr 2010asset acquisition disposition▲ Good
Fall River was offered for grant the three applications (GELA 523-525), which would bring its South Australian portfolio to 11 licences covering about 13,000 km2. Formal grant is expected in May 2010 after documents are submitted. This follows the February applications.
5 Mar 2010other● Neutral
Notice that Managing Director Torey Marshall was interviewed by New York's O Six Media. No new company information is given in the notice itself.