Past year: ▲ 800%(0.30c – 10.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Mar 2025material agreement● Neutral
Triangle, the seller, confirms a binding term sheet moving Pilot's Cliff Head completion to 30 September 2026. Price stays about A$5.6m plus 10% interest, paid via a secured note. It is conditional on Pilot raising at least $5m net and being reinstated to trading.
28 Mar 2025farm in farm out agreement▲ GoodMajor
Pilot and Triangle agree revised Cliff Head terms, settling the unagreed restructure from February. The $5.563m for the onshore assets becomes a secured note due 30 September 2026, 10% interest from 30 June 2025, plus $167k on 31 August 2025. Offshore transfer still needs NOPTA approval.
20 Mar 2025director officer appointment● Neutral
Non-executive director Daniel Chen retired effective 19 March 2025, having joined in mid-2020. The board is now Executive Chairman Brad Lingo plus Sundich and Wallace; Pilot says it will further strengthen the board and management.
17 Mar 2025listing compliance notice● Neutral
ASX announced Pilot's suspension would continue under Listing Rule 17.5 for a late periodic report. This was issued in error and withdrawn the same day (see the amended notice).
17 Mar 2025admin correction● Neutral
Pilot says ASX wrongly announced a suspension for late reporting and then retracted it. It notes it lodged its quarterly report on 31 January 2025 and remains in voluntary suspension.
17 Mar 2025admin correction● Neutral
ASX corrected its earlier notice: Pilot was inadvertently suspended under Listing Rule 17.5. The suspension continues under the voluntary Listing Rule 17.2 request of 5 March 2025.
5 Mar 2025capital raising announcement● NeutralMajor
Pilot extends its suspension to 5 April 2025 or until a raising is announced. It plans a $7–8m share placement led by Alpine Capital, in two tranches, first settling by 28 March and second (needing shareholder approval) in May. Triangle talks remain unresolved; price not given.
4 Mar 2025price query▼ Bad
In a second ASX response, Pilot says earlier quarterly reports did not name South32, the terms sheet was signed 25 September 2024, and South32 provides no funding, only internal resources. This qualifies its earlier claim that the study had been disclosed.
26 Feb 2025price query● Neutral
Responding to an ASX query, Pilot says the South32 study is non-binding, grant-funded, has a one-year term, and is not price-sensitive. It says the study was earlier mentioned in quarterly reports and began in February 2025.
21 Feb 2025material agreement▲ GoodMajor
Pilot and South32 Worsley Alumina agreed to study capturing and storing up to about 700,000 tonnes a year of CO2 at Cliff Head, with Chiyoda and Knutsen NYK. Completion is expected Q3 2025, funded from the $6.5m grant. It is a first named emitter link, but only a study.
18 Feb 2025asset acquisition disposition▼ BadMajor
Pilot is in talks with Triangle to restructure the Cliff Head purchase, having not made the scheduled acquisition payments. It has funded about $5.7m of Cliff Head costs since 1 August 2024 and paid Triangle $400k. Recapitalisation talks remain incomplete and shares stay suspended.
14 Feb 2025director officer appointment● Neutral
Non-executive director Bruce Gordon retired from the board effective 12 February 2025, as foreshadowed in December. Management and the board have visited the Cliff Head and Arrowsmith sites.
12 Feb 2025investor presentation● Neutral
AGM presentation by the Chairman and Managing Director. The visible text is only disclaimers, the competent person statement and the ASX renewable-activity reporting conditions; no new information is visible (text truncated).
7 Feb 2025director officer appointment● Neutral
Alexander Sundich (Bridge Street Capital, about 4.7% holder) and Natalie Wallace joined the board as non-executive directors from 4 February 2025, completing the board renewal foreshadowed in December 2024.
5 Feb 2025listing compliance notice▼ Bad
Pilot asks to extend its trading suspension to 5 March 2025, or until a capital raising announcement. Talks with an existing investor on a package to complete the Cliff Head purchase are incomplete. Pilot says it has funded about $4.2m of Cliff Head costs since August 2024 and paid Triangle $0.4m.
23 Jan 2025capital raising announcement● NeutralMajor
Pilot received $1.805m from two investors for convertible notes on the same terms as earlier issues (12% interest, $0.02 conversion, December 2027 maturity). Issue depends on placement capacity after the 12 February 2025 AGM. Funds support Cliff Head operations; the Triangle purchase is not mentioned.
16 Jan 2025joint venture update● NeutralMajor
Pilot and KOSPO signed a non-binding Project Framework Agreement. It sets a FEED tender (responses by 15 March 2025), a Korean independent study, and an effort to sign a project development agreement by 30 June 2025. This pushes the earlier year-end 2024 target back.
8 Jan 2025other● Neutral
Distribution schedule for the listed $0.033 options: 88 holders and 137,091,607 options, nearly all in holdings over 100,000. Administrative.
8 Jan 2025other● Neutral
Register of the top 20 holders of listed $0.033 options expiring 13 December 2026 as at 23 December 2024: 137,091,607 options in total, with the top 20 holding about 75%. Administrative.
27 Dec 2024other● Neutral
Annual corporate governance statement and Appendix 4G against ASX recommendations. It notes no formal measurable gender diversity objectives were set. No new commercial information.
27 Dec 2024listing compliance notice▼ BadMajor
Pilot asked to extend its voluntary suspension to 3 February 2025 or until a capital raising announcement. Note funds of $1.8m are now due by 15 January, and Pilot is talking to an existing major capital provider about a package to complete Cliff Head. It expects at least 30 days.
24 Dec 2024resource reserve update▲ GoodMajor
Cliff Head's 2C contingent CO2 storage resource rose 58% to 72.2 Mt (100% basis) from 45.6 Mt, per consultant CO2Tech; 1C is 34.2 Mt and 3C 110.2 Mt. The 2024 Declaration must be amended before an injection licence application.
23 Dec 2024listing compliance notice▼ BadMajor
At Pilot's request, ASX suspended trading while Pilot waits for convertible note funds needed for the Triangle Cliff Head payment. Pilot asked for suspension until an announcement or trading on 27 December 2024.
20 Dec 2024annual report● Neutral
Annual report for year to 30 September 2024. The chairman's letter recaps the Cliff Head storage declaration, the $6.5m grant, the Korean consortium, the Three Springs offer and the revised Triangle deal. Financial statements are not visible in the provided text.
18 Dec 2024listing compliance notice● Neutral
ASX paused trading in Pilot pending a further announcement. The notice gives no reason; the Cliff Head update released the same day is the likely follow-up (inference).
18 Dec 2024asset acquisition disposition▼ BadMajor
Pilot says its initial Cliff Head instalment to Triangle depends on the convertible note funds, which had not yet arrived (investor has until 24 December). It says Triangle has different priorities and that Pilot remains open to a commercial resolution. The revised 17 December payment was apparently not made.
16 Dec 2024regulatory community update▲ Good
Pilot lodged an R&D tax incentive claim for the 2024 tax year: about $3.5m of Mid West project spending, giving a refundable offset of $1.5m. Cash is expected in early 2025.
11 Dec 2024capital raising announcement● NeutralMajor
Pilot has binding commitments for $2m of convertible notes, on the same terms as the November Discovery facility: 12% interest, $0.02 conversion price, maturity December 2027. Funds are due by 24 December and issue needs refreshed placement capacity after the 12 December meeting. Proceeds go toward Cliff Head.
9 Dec 2024director officer appointment● NeutralMajor
Alex Sundich (about 4.7% shareholder) and Natalie Wallace join as non-executive directors on 18 December 2024. Bruce Gordon and Daniel Chen retire by the February 2025 AGM. Pilot is recruiting a Perth-based CEO and CFO and moving headquarters to Perth.
4 Dec 2024joint venture update● Neutral
Pilot says it is still engaging the Korean consortium despite South Korea's political turmoil. It plans to meet them in Seoul the following week, with no change to the timing of scheduled events toward a binding development agreement for the Mid West project.
