Each one in plain English, with the numbers worked through for a shareholder.
1 May 2026capital raising announcement● NeutralMajor
PRM raises $1.56m via placement of 709.1m shares at $0.0022, a 26.67% discount to last price, with 1 free option per 3 shares (exercisable at $0.004, 3 years). Tranche 2 (284.9m shares, incl. $60k from directors) needs shareholder approval. Funds go to Gawler licences and geophysics.
What it means for a shareholder
709m new shares at A$0.0022 to raise about A$1.6m. That's 29% dilution: every existing holder's slice gets 29% smaller. If you held A$1,000 of shares (454,545 at the issue price), your slice goes from 0.0268% to 0.0189% of the company. To keep it you'd need 189,970 more shares - about A$418 at the issue price.
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.
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.
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.
31 May 2021capital raising announcement▲ GoodMajor
GTT Ventures has committed to raise A$3.2m before costs. It funds a Bowsprit vertical well in July-August 2021 to about 8,000ft, targeting the T2 sand (1.8-4.1 MMbbl prospective, 25% chance). It also funds a 20% stake in Patriot Hydrogen for 25m shares, $250,000 and 3m options, a new direction.
15 Jan 2021capital raising announcement▲ GoodMajor
Placed 114.3m shares at 0.7c to raise A$800,000, a premium to the 0.5c rights issue. Funds go to working capital, the Bowsprit farm-out and new asset reviews. Company expects over A$1.2m cash and no debt; GTT gets A$36,000 and 5m options.
Technical prospectus offering 1,000 listed options at A$0.01 (to raise A$10) to allow secondary trading of placement, Winform and adviser options. No new money of substance.
13 Oct 2020capital raising announcement▲ GoodMajor
Shortfall closed and filled by existing holders: 81.9m shortfall shares placed on top of 158.9m taken up, so the full 240.8m shares (about A$1.2m at 0.5c) are issued. 202 holders took part and excess funds are refunded.
Rights issue results: holders took up 158.9m shares (A$795k, 66% of entitlements). A further A$812k of shortfall was applied for against 81.9m shares available, so some applications will be scaled back.
Prospectus for the non-renounceable rights issue: 1 new share per 1 held at A$0.005, up to A$1.2m, with a free option per 2 shares. Not underwritten; GTT is lead manager, and the offer closes 30 September 2020. Repeats the announced terms.
Revised timetable for the 1-for-1 rights issue: offer opens 16 September, closes 30 September 2020, new shares trade from 8 October. Dates only; no change to price or terms.
Announces a rights issue: 1 new share per 1 held at 0.5c to raise up to A$1.2m, with a free option per 2 shares (2c, expiring 1 September 2023). The price is a 37.5% discount to the last close. Proceeds fund the Bowsprit farm-out, the Winform note cash settlement, and overdue pay and debts.
31 July 2020capital raising announcement● NeutralMajor
Placed 30m shares at 0.5c to raise A$150,000, with attaching options (2c, expiring 1 September 2023) subject to approval. A$300,000 of convertible notes converted at 0.4c. A rights issue is planned. GTT earns a 6% fee and 7.5m options.
Board sets a plan to fund the company to 30 September 2020: a 1-for-10 share consolidation, then a raise of about A$350,000. A$200,000 is committed by shareholders, and A$75,000 in short-term loans from the chairman and GTT covers this quarter. A binding farm-out letter of intent was delayed by COVID-19.
31 Dec 2019capital raising announcement● NeutralMajor
Now named Prominence Energy, the company raised A$250,000 via a short-term convertible note from existing shareholders, 10% coupon, repayable 31 March 2020. Conversion is at a 20% discount. GTT's half needs shareholder approval. It funds working capital while farm-out talks continue.
14 Aug 2019capital raising announcement▲ GoodMajor
Sun has firm commitments to place 307.5m shares at A$0.002 to raise A$615,000, via GTT Ventures (6% fee plus 50m options). Funds cover lease rental and permitting. GTT's Patrick Glovac is to join the board. First well still Q1 2020, subject to funding or farm-out.
What it means for a shareholder
308m new shares at A$0.002 to raise about A$615,000. That's 24% dilution: every existing holder's slice gets 24% smaller. If you held A$1,000 of shares (500,000 at the issue price), your slice goes from 0.0523% to 0.0396% of the company. To keep it you'd need 160,817 more shares - about A$322 at the issue price.
28 June 2019capital raising announcement▼ BadMajor
Sun placed 75m shares at A$0.002 to raise A$150,000, with two free options per three shares (A$0.004, expiring 31 Dec 2020). Directors may take 45m more shares, converting A$70,000 of loans and adding A$20,000. The price is half the November 2018 placement price of A$0.004.
What it means for a shareholder
75.0m new shares at A$0.002 to raise about A$150,000. That's 7.8% dilution: every existing holder's slice gets 7.8% smaller. If you held A$1,000 of shares (500,000 at the issue price), your slice goes from 0.0567% to 0.0523% of the company. To keep it you'd need 42,562 more shares - about A$85 at the issue price.
The Share Purchase Plan closed with valid applications for 31,875,000 shares at A$0.004, raising A$127,500 before costs, well short of the A$500,000 the company was prepared to accept. The company described it as additional to a successful A$220,000 placement, with funds for well planning, permitting and working capital.
What it means for a shareholder
31.9m new shares at A$0.004 to raise about A$127,500. That's 3.8% dilution: every existing holder's slice gets 3.8% smaller. If you held A$1,000 of shares (250,000 at the issue price), your slice goes from 0.031% to 0.0299% of the company. To keep it you'd need 9,892 more shares - about A$40 at the issue price.
Share Purchase Plan closing extended from 23 November to 21 December 2018, so holders can see the refined 3D geological modelling results before deciding. Terms and the A$0.004 price are unchanged.
Share Purchase Plan booklet mailed; eligible holders can buy A$500 to A$15,000 of shares at A$0.004, aiming for up to A$0.5m. Chairman's letter targets drilling in Q2 2019 and first production by end of 2019. Mostly repeats the 31 October announcement.
1 Nov 2018capital raising announcement● NeutralMajor
Sun placed 80m shares at A$0.004 to raise A$320,000, and plans a Share Purchase Plan of up to A$500,000 at the same price. Directors would convert A$100,000 of loans into 25m shares, subject to shareholder approval. Funds cover well planning and permitting, not drilling.
What it means for a shareholder
80.0m new shares at A$0.004 to raise about A$320,000. That's 9.6% dilution: every existing holder's slice gets 9.6% smaller. If you held A$1,000 of shares (250,000 at the issue price), your slice goes from 0.033% to 0.0299% of the company. To keep it you'd need 26,440 more shares - about A$106 at the issue price.
14 Dec 2017capital raising announcement▲ GoodMajor
The 88.5m-share shortfall (A$354,155) was placed, completing the full A$1,296,742 rights issue at $0.004 per share. Shares and free options to be allotted 18 December. This resolves the open funding thread for Bowsprit evaluation.
Rights issue closed 5 December with shareholders taking 235.6m of 324.2m shares (A$942,587). A shortfall of 88.5m shares (A$354,155) falls to underwriter Patersons. Funds go to Bowsprit and working capital.
Prospectus for the rights issue: up to 324,185,395 new shares at $0.004 with one free $0.006 option per two shares, fully underwritten by Patersons. Offer closes 5 December 2017. Formal document for the raising already announced.
What it means for a shareholder
324m new shares at A$0.004 to raise about A$1.3m. That's 43% dilution: every existing holder's slice gets 43% smaller. If you held A$1,000 of shares (250,000 at the issue price), your slice goes from 0.0578% to 0.033% of the company. To keep it you'd need 187,500 more shares - about A$750 at the issue price.
Director Alex Parks becomes CEO and Managing Director, ending the vacancy since November 2016. Sun launches a Patersons-underwritten rights issue of 3 new shares per 4 held at $0.004 to raise up to $1,296,742, to fund Bowsprit seismic, reserves certification and farm-out. Lease signed.
Compliance detail on the 14 November placement: 2,344,952 shares issued under the 7.1A capacity, diluting existing holders by 0.55%. No underwriter and no fee. Disclosure only, on part of the oversubscription already announced.
14 Nov 2016capital raising announcement▲ GoodMajor
The rights issue shortfall of 69.7M shares ($696,900) was fully placed, so the full $1,320,528 is raised. The shortfall was oversubscribed, and Sun will take up to a further $317,900 on the same terms using its placement capacity.
Rights issue closed 12 October with shareholders taking up 62.4M of 132.1M shares ($623,628). The remaining 69.7M shares ($696,900) fall to the shortfall, which Fast Lane Australia underwrites. Fewer than half of entitlements were taken up by existing holders.
