Past year: ▼ 51%(1.00c – 5.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
26 Sept 2006joint venture update▼ BadMajor
ARC Energy disputes Rey's claim that its conditions were unmet, saying both remain bound by their agreement. It notes the Gujarat deal with a related party is likely to need Rey shareholder approval. Contradicts Rey's same-day announcement.
26 Sept 2006farm in farm out agreement● NeutralMajor
Rey says ARC's conditions were not met and signs a binding deal with Gujarat NRE Mineral Resources to farm into the Canning Basin permits. Gujarat pays $250,000 on grant and operates, holding 90% of petroleum with Rey's 10% free-carried. Gujarat is related to a director and 19.9% shareholder.
11 Sept 2006annual report● Neutral
Preliminary results for year to 30 June 2006: loss of $993,891, with cash of $3,009,693 and no debt. Net tangible assets were $4.52 million, or 6.3 cents per share, following the IPO.
16 Aug 2006security holder rights change● Neutral
Rey asks its registry to issue 550,000 employee options to three Chilean staff, exercisable at 20c by 31 December 2007, under the employee share plan. Minor dilution.
8 Aug 2006admin correction● Neutral
Rey adds a missing competent-person statement, naming consultant Allen Maynard, to its June quarterly report. Administrative; no new results.
31 July 2006quarterly activities report● Neutral
First quarterly report since the 5 June listing, which raised $3.3 million after costs. Fenix copper has promising surface grades, with 3,000 metres of drilling due late August. Liveringa coal drilling is likely deferred pending native title agreements.
31 July 2006director officer appointment● Neutral
John Booth has resigned as joint company secretary. Julian Ludowici remains company secretary. Administrative.
9 June 2006drilling scheduled▲ Good
Rey updates its Chile copper projects. At Fenix (100%), seven near-surface copper zones grade up to 4% and drilling is expected July-August. Work at Humitos and El Timon (both 100%) is planned from July.
5 June 2006material agreement▲ GoodMajor
Rey signs a letter of intent for ARC Energy to take a 100% interest in two Canning Basin petroleum permit applications and operate them. Rey keeps coal and coal-gas rights. Subject to a formal agreement and approvals.
2 June 2006other● Neutral
Top 20 option holders at 29 May 2006: Bruce Preston's super fund holds 7,025,000 options (17.13%), the largest. The top 20 hold 74.93% of 41,011,823 options. Administrative data.
2 June 2006security holder rights change● Neutral
Rey lists escrowed securities: 29,214,828 shares, 13,325,000 options and 8,000,000 management options locked until 4 June 2008; 2,701,599 shares are voluntarily escrowed until 4 March 2007.
2 June 2006other● Neutral
Top 20 shareholder list at 29 May 2006: Gujarat NRE Coke holds 10,000,000 shares (13.82%) plus a second 4,000,000-share holding (5.53%); Jose Bahamondes holds 6.94%. The top 20 hold 57.58%.
2 June 2006other● Neutral
Share distribution schedule at 29 May 2006: 1,339 holders own 72,344,499 shares including escrowed shares. The 89 largest holders (over 100,000 shares) hold 78.8%. Administrative data.
2 June 2006other● Neutral
Option distribution schedule at 29 May 2006: 266 holders own 41,011,823 options, with 48 holders of over 100,000 options holding 87.91%. Administrative data.
2 June 2006other● Neutral
ASX notice that Rey was admitted to the official list on 2 June 2006, listing the pre-quotation documents released (distribution schedules, top 20 holders, accounts, pro forma balance sheet). Administrative; no new information itself.
2 June 2006annual report● Neutral
Annual report for year to 30 June 2005, released as pre-quotation disclosure. It notes board changes on listing: Arun Jagatramka and Peter Gower join, Jose Bahamondes resigns as director. Company states it has no borrowings.
1 June 2006other▲ GoodMajor
ASX confirms Rey's admission to the official list on 2 June 2006, with trading in shares (REY) and options (REYO) starting 5 June 2006. 43,129,671 shares are quoted; 29,214,828 shares are escrowed for 24 months.
31 May 2006capital raising announcement▲ GoodMajor
Rey Resources's IPO prospectus offers 25,000,000 shares at $0.20 (with 12,500,000 options) to raise up to $5,000,000, minimum $3,000,000. Gujarat NRE Coke, a substantial shareholder, committed $800,000. Funds explore WA coal, Chile copper and Peru gold.
What it means for a shareholder
25.0m new shares at A$0.200 to raise about A$5.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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