Past year: ▲ 65%(36.5c – 1.34 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
15 Feb 2024production update▼ BadMajor
LNG deliveries have restarted after a maintenance outage that ran longer than expected due to problems with the main refrigerant compressors. The company will seek insurance or supplier compensation. Helium integration and final performance test await the equipment maker's arrival after Chinese New Year.
5 Feb 2024capital raising announcement▲ GoodMajor
All conditions are met for Mahlako Gas Energy's R550m (A$43.4m) investment for 5.5% of Tetra4, announced 27 December 2023; cash is to be settled to the company. Resolves that open thread and funds Phase 1/Phase 2 needs.
27 Dec 2023capital raising announcement▲ GoodMajor
Mahlako Gas Energy will invest R550m (A$43.4m) for 5.5% of Tetra4, leaving Renergen with 94.5%. Proceeds repay the Standard Bank bridge loan and fund Phase 2. Subject to conditions including DFC consents, due by 31 March (year per text truncated).
31 Oct 2023half year report▼ Bad
Reviewed half-year to 31 August 2023: revenue R23.8m (from R1.2m) as LNG replaced the CNG pilot; loss after tax R43.5m, 29.91 cents per share versus 19.31. BDO reviewed. Losses widened, confirming the earlier trading statement.
27 Oct 2023other▼ Bad
JSE trading statement: loss per share for six months to 31 August 2023 expected at 28.9–30.9 cents, 50–60% worse than 19.31 cents a year earlier. Revenue does not yet cover running costs, helium delayed. Unreviewed.
16 Oct 2023other● Neutral
Renergen admitted its earlier response to criticism was inappropriate and answered public questions. It restated helium cold box history, said the December 2022 leaks were separate, and expects nameplate production by H1 2024. No new results.
9 Oct 2023other● Neutral
Renergen blamed social media negativity for a substantial share price fall, saying management knows of no change in strategy or outlook. It will consider next steps. The statement offers no new facts.
29 Sept 2023quarterly activities report▲ GoodMajor
Quarter to 31 August 2023: LNG output rose 88% to 1,564 tons, and the helium cold box leak is repaired, with the performance test expected November 2023 (earlier than October restart guidance implied). Phase 2 Environmental Authorisation received. Two new wells showed gas.
19 Sept 2023admin correction● Neutral
Share registry Computershare's Perth office moved to Level 17, 221 St Georges Terrace from 18 September 2023. Administrative notice only; no company news.
1 Sept 2023other● Neutral
CEO Stefano Marani and COO Nick Mitchell each received 74,046 shares from vested bonus share awards (R0 strike) and sold some to cover tax, each ending with a net 43,316 shares gained. Routine director dealing.
7 July 2023other● Neutral
Corporate governance statement against ASX principles, listing the board (chair David King; CEO Stefano Marani; executives Mitchell and Harvey; independent directors). Administrative, no new events.
7 July 2023other● Neutral
Appendix 4G checklist for FY to 28 February 2023, pointing to the governance statement and annual report. Administrative filing with no substantive news.
30 June 2023other● Neutral
Renergen's first Environmental, Social and Governance report, covering the year to 28 February 2023, which it describes as a baseline for future targets. Visible text is introductory with no new financial or operational results.
30 June 2023annual report● Neutral
Integrated Annual Report for the year to 28 February 2023 published. Covers Tetra4 (Virginia Gas Project) and Cryovation, both 100% owned. Visible text is contents and reporting framework; no new figures shown, results were already released.
26 June 2023regulatory community update▲ Good
The US DFC's Congressional notification for the Tetra4 loan is complete. This clears one condition on the US$500m Phase 2 loan; the company calls it a milestone toward Phase 2 construction. Other conditions, such as the equity raise, remain.
26 June 2023quarterly activities report● NeutralMajor
Quarter to 31 May 2023: Phase 2 US$750m debt approved; new Timelink Cargo LNG deal; LNG up 12.8% to 823 tons. A vacuum leak in the helium cold box needs off-site repair, with testing restarting October 2023, a helium delay. New Morpheus well flows 70,000 scf/d. All TCPs lapsed.
8 June 2023debt financing▲ GoodMajor
US DFC approved a US$500m senior loan, subject to a Congressional notification period, and Standard Bank a further US$250m facility for Phase 2. Conditions include raising enough equity (the Nasdaq IPO or other) and lender approval of EPC and operations contractors. Advances the Phase 2 debt plan.
1 June 2023listing compliance notice▼ BadMajor
ASX suspended Renergen from 1 June 2023 for not lodging its annual report by the due date. Reinstatement was expected once the report was lodged, as the company had said the auditor's accounts were delayed.
1 June 2023listing compliance notice▲ Good
ASX said trading will resume on 2 June 2023 after Renergen lodged its full-year accounts. The one-day suspension is resolved.
1 June 2023annual report● Neutral
Short-form audited results: revenue up 381% to R12.7m, loss per share 19.86 cents versus 27.73. BDO gave an unmodified opinion. Warns ASX trading would be suspended on 1 June because the auditors' accounts were delayed.
1 June 2023annual report● Neutral
Audited FY2023 statutory accounts lodged for the year to 28 February 2023, with BDO as auditor. Lodgement lifts the ASX suspension. The visible text shows the board stating a going-concern basis and listing the new directors; the figures repeat the earlier results.
1 May 2023annual report● Neutral
Preliminary results for the year to 28 February 2023: revenue R12.7m (from R2.6m) on LNG sales since September 2022; loss R26.7m, 21% smaller, or 19.86 cents per share. Total assets R1.9bn, helped by R573.9m raised in the year. Unaudited.
27 Apr 2023other● Neutral
JSE trading statement: loss per share for the year to 28 February 2023 expected at 17.1–22.6 cents, 18–38% smaller than last year's 27.73 cents. Unaudited, and a narrower loss, not a profit.
8 Mar 2023investor presentation▲ GoodMajor
Phase 2 guidance: a target of R5.7bn–R6.2bn annual EBITDA once both plants are at full production, not before FY2027. Phase 2 would make about 34,400 GJ/day LNG and 4,200 kg/day helium. Funding options: US$750m debt, CEF's R1bn for 10% of Tetra4, a possible IPO. It is an unaudited target.
2 Mar 2023admin correction● Neutral
Renergen clarified that a share consolidation notice shown on its JSE feed belonged to another company, Resource Generation, and was wrongly published under Renergen's code. Shareholders should disregard it. No company news.
14 Feb 2023admin correction● Neutral
Routine cleansing notice under the Corporations Act for the 4.6m shares issued in the February placement, stating the raise as about $9.0m (the currency is not specified). Adds no new information.
8 Feb 2023capital raising announcement● Neutral
Renergen launched an accelerated bookbuild to place 4.6m new shares (about 3.2% of shares) with South African institutions, using its existing 2022 AGM authority. Proceeds fund Phase 2 capital spending. Price to be set at book close.
8 Feb 2023capital raising announcement● NeutralMajor
Renergen placed 4.6m new shares at R24.00, a 6.5% discount to the R25.68 prior close (about R110m), with the book comfortably oversubscribed. Settlement was due 10 February 2023, and 12,879,180 shares had then been issued under the general authority.
6 Feb 2023director officer appointment● NeutralMajor
Non-executive directors Alex Pickard (Ivanhoe's nominee) and Francois Olivier stepped down, and Bane Maleke retired. Thembisa Skweyiya and Dumisa Hlatshwayo joined as independent directors. The board said production of LNG and liquid helium had begun, so it was reshaping leadership.
1 Feb 2023capital raising announcement● NeutralMajor
Renergen is preparing a possible US IPO of ADSs on Nasdaq in 2023, having confidentially filed a draft Form F-1, and will seek shareholder approval to issue shares for cash for Phase 2. Size and price are undetermined; it may not proceed.
