29 Nov 2024director officer appointment● NeutralMajor
Alex Parks retires as Managing Director at close of business 29 November 2024, following the AGM. This completes the departure announced on 6 September when Hartshead came in.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Sept 2024annual report● Neutral
Corporate governance statement and Appendix 4G for the year to 30 June 2024, lodged with the annual report. Administrative compliance filing with no new operational or financial information.
30 Sept 2024annual report● Neutral
2024 annual report. The chairman says Umine permitting is taking much longer than expected and that several attempted transactions failed. The company turned to Hartshead (19.9%) as strategic investor; Tarratt and Meyers take over most of Parks' day-to-day roles.
6 Sept 2024capital raising announcement▲ GoodMajor
Hartshead Resources takes a 19.99% stake via a A$389,000 placement of 77.8m shares at 0.5c, with 1-for-2 free options at 1c (approval needed). Hartshead's Bevan Tarratt joins as Executive Director, Quinton Meyers joins the board, and MD Alex Parks will retire by the AGM.
What it means for a shareholder
77.8m new shares at A$0.005 to raise about A$389,000. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.0642% to 0.0514% of the company. To keep it you'd need 49,972 more shares - about A$250 at the issue price.
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2 Sept 2024director officer appointment● Neutral
Henko Vos and Jennifer Voon are appointed joint company secretaries after CFO/Company Secretary Sonu Cheema resigned for personal reasons. The appointment is interim until Cheema can resume.
9 May 2024investor presentation● Neutral
May 2024 corporate presentation, 'Small Explorer, Large Prospects'. The text provided is only disclaimers and notices; no new information is visible.
8 May 2024other▲ Good
Umine (PRM 20%) reports 50 handheld surface samples at the Djideli site. Seven from low-grade stockpiles ranged up to 5,269ppm uranium, averaging 1,773ppm. Results are preliminary; drilling is recommended and no resource exists. A permit application has been lodged.
12 Apr 2024asset acquisition disposition▼ BadMajor
The board relinquishes the Bowsprit lease. Bowsprit-1 will be abandoned and the site remediated over the next 12 months. This ends the Bowsprit sidetrack plan and farm-in search, with the lease due to expire in March 2024.
15 Mar 2024half year report▼ Bad
Half-year to 31 December 2023 net loss was A$6,955,186, versus A$394,501 a year earlier. The text shown does not explain the jump. A$387,500 first tranche of the A$1.55m raise completed 12 March; the rest needs shareholder approval.
6 Mar 2024other● Neutral
ASX notice that PRM's trading suspension will lift once its project investment announcement is released. Administrative, no new substance.
6 Mar 2024capital raising announcement▲ GoodMajor
PRM has firm commitments to raise A$1.55m in a placement. About US$200,000 (~A$300k) buys a 20% stake in Umine LLP, a Kazakh company planning to remediate a former uranium site and sell the uranium. Remaining funds go to Big Apple farm-out and working capital. Price not shown in the text.
5 Mar 2024other● Neutral
PRM extends its voluntary suspension by a day, to Wednesday 6 March 2024, still pending its project investment announcement. No new detail.
4 Mar 2024other● Neutral
PRM requests a voluntary trading suspension pending an announcement about a 'project investment'. No detail of the investment is given; the outcome follows in later releases.
23 Nov 2023investor presentation● Neutral
AGM presentation, 'Small Explorer, Large Prospects'. The text provided is only disclaimers; no new information visible.
28 Sept 2023annual report● Neutral
Appendix 4G and corporate governance statement lodged with the 2023 annual report, pointing to the company's website for the full statement. Administrative compliance filing with no new operational or financial information.
28 Sept 2023annual report● Neutral
2023 annual report. The chairman cites Big Apple's 1.37 Tcf unrisked (426 Bcf risked) NSAI resource and says more work precedes seeking a farm-in partner. Oil price rises have increased farm-in enquiries for Bowsprit, where a partner is still sought.
18 Sept 2023other● Neutral
Administrative notice: Computershare's Perth share registry office moves to Level 17, 221 St Georges Terrace from 18 September 2023. No other substance.
7 Sept 2023capital raising announcement● NeutralMajor
PRM raises A$650,000 via 32.5m shares at 2c with a free 3c option expiring March 2025 per share. A$600,000 is placed now; A$50,000 from directors/CFO needs shareholder approval. First raise since December 2021; funds go to Big Apple farm-out preparation and working capital.
What it means for a shareholder
32.5m new shares at A$0.020 to raise about A$650,000. That's 1.3% dilution: every existing holder's slice gets 1.3% smaller. If you held A$1,000 of shares (50,000 at the issue price), your slice goes from 0.00206% to 0.00203% of the company. To keep it you'd need 670 more shares - about A$13 at the issue price.
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7 Sept 2023investor presentation● Neutral
Presentation at the Good Oil and Gas Energy Conference, 'Small Explorer, Large Prospects'. Text provided is only disclaimers; likely repeats known facts but no new information visible.
4 Sept 2023investor presentation● Neutral
Investor presentation, 'Small Explorer, Large Prospects'. Text provided is only disclaimers; no new information visible.
31 Aug 2023resource reserve update▲ GoodMajor
Netherland Sewell assesses Big Apple at 1.37 Tcf unrisked mean net prospective gas resources and 426 Bcf risked, net to PRM's 80.25% NRI. Chance of success is 28-32% per sand. These are undiscovered volumes; farm-out is planned for early 2024.
23 Aug 2023drilling progress report▲ Good
PRM bought all available seismic and mapping confirms a closed Big Apple structure of about 7,370 acres, in line with pre-bid estimates. Volumes have gone to Netherland Sewell for audit; farm-out is planned for early 2024.
15 Aug 2023security holder rights change● Neutral
Notice that 45,594,779 listed PRMOB options, now exercisable at 40c after consolidation, expire 1 September 2023. The share price was 1.7c on 10 August, so the options are far out of the money (inference: they will likely lapse).
31 July 2023remuneration report● Neutral
MD/CEO Alex Parks's cash pay rises from A$252,000 to A$260,000 (excluding superannuation), effective immediately, following a remuneration committee review.
17 July 2023asset acquisition disposition▲ GoodMajor
PRM is awarded the two Big Apple Gulf of Mexico leases it bid on in March, 100% interest, 80.25% NRI, five-year term, no minimum work program. It will buy remaining seismic and have resources independently reviewed, then may seek a farm-in partner.
2 May 2023security holder rights change● Neutral
Consolidation timetable confirmed: every 20 securities become 1, cutting ordinary shares from 2,424,608,819 to 121,230,441. Listed options' exercise price rises from 2c to 40c. Shareholder vote is 2 June 2023; new shares issue 15 June.
2 May 2023security holder rights change● NeutralMajor
Timetable for a share consolidation to be voted on at an EGM on 2 June 2023, with the effective date also 2 June. The ratio is not stated in this text. Shareholders' holdings would be reduced in number by the consolidation.
30 Mar 2023asset acquisition disposition▲ GoodMajor
PRM is apparent high bidder at US$145,000 per block on two Gulf of Mexico blocks off Texas (100% interest), holding the 'Big Apple' gas prospect. Award is subject to BOEM review of up to 90 days. A farm-in partner is likely to be sought for drilling.
30 Mar 2023other● Neutral
ASX lifted the trading pause on PRM immediately. Administrative notice with no substance of its own.
30 Mar 2023other● Neutral
ASX paused trading in PRM securities pending an announcement. This relates to the Gulf of Mexico bid news released the same day; no substance of its own.