Past year: ▲ 5900%(0.20c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
16 May 2025asset acquisition disposition● NeutralMajor
TMK is disposing of its 20% indirect interest in the Talisman Deeps offshore WA project, held through Skye Napoleon, for deferred consideration of $1m. Payable only within 90 days of commercial production starting. It removes future work-program obligations and completes exit from a non-core asset.
7 May 2025production update▲ Good
A pressure build-up test at LF-02 showed reservoir pressure down about 900 kPa since July 2023, roughly 90% of the 1,000 kPa needed for critical desorption. LF-02 kept producing gas unassisted during the shut-in, and the pilot wells produced about 7,600 m3 in April.
16 Apr 2025capital raising announcement● NeutralMajor
TMK raised about $2.25m via a placement of 750m shares at $0.003, a 7% discount to the five-day VWAP of $0.0032, issued under existing capacity around 24 April. Funds go to the LF-07 pilot well, 2025 exploration, feasibility studies and strategic partner efforts. Lead manager Prenzler gets 20m options at $0.005.
What it means for a shareholder
750m new shares at A$0.003 to raise about A$2.3m. That's 21% dilution: every existing holder's slice gets 21% smaller. If you held A$1,000 of shares (333,333 at the issue price), your slice goes from 0.0116% to 0.00918% of the company. To keep it you'd need 86,806 more shares - about A$260 at the issue price.
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7 Apr 2025production update▲ Good
March gas exceeded 10,000 m3, up about 10% on February's record, and gas 'slugs' appeared in LF-04 and LF-06, suggesting approach to critical desorption. DTS analysis shows water comes from the coal seams. Planning has started for at least one more production well, drilling before the end of Q2 2025 on company estimate.
2 Apr 2025regulatory community update▲ Good
Mongolian ministers and parliamentarians visited the Gurvantes project twice and expressed willingness to support its expansion and acceleration. Shows government goodwill for domestic gas, but no permits, approvals or commercial terms were announced.
31 Mar 2025other● Neutral
Appendix 4G, a routine checklist accompanying the annual report, dated 28 March 2025 and pointing to the governance statement on the website. It carries no new substance; it appears to flag that recommendation 1.3 (written agreements with executives) was not fully followed.
31 Mar 2025other● Neutral
Corporate governance statement as at 28 March 2025, a routine compliance document. It notes renewed senior executive contracts were not formalised during 2024's management changes, and the remuneration committee has put procedures in place to renew them promptly.
31 Mar 2025annual report● Neutral
Annual report for the year to 31 December 2024 (the first after the financial year change). The chairman's report says the three extra pilot wells were drilled on time and on budget and a commercially significant outcome is possible in 2025. Financial figures were truncated and are not available here.
11 Mar 2025production update▲ Good
February gas output was about 9,100 m3, up about 14% on January's record, with a new daily high of 463 m3 on 4 March. A pressure test shows reservoir pressure still falling toward critical desorption; 5 of 6 wells are at design fluid levels. Output is still not commercial.
27 Feb 2025security holder rights change● Neutral
Options prospectus for the free attaching TMKO options (one per two shares) to the November placement investors. Also offers 80m options to directors, 20m to Tsetsen Zantav and 52.75m to advisors. Paperwork for previously announced option issues; no new funds raised.
6 Feb 2025production update▲ GoodMajor
January set a record month: almost 8,000 m3 of gas, about 300% above December and 40% above the prior record. LF-02 produced over four times its historical rate. Material increase still expected late Q1 or early Q2 2025; the company says it is too early to predict.
13 Jan 2025production update▲ GoodMajor
The three new wells began flaring gas around 10 January, so all six wells now flare and total field gas has more than doubled. Flows are 'pre desorption' and not commercial. Critical desorption is estimated for late Q1 or early Q2 2025.
2 Jan 2025production update● Neutral
December: all six pilot wells ran near 100% uptime. The original three wells quickly returned to prior gas rates after pumps were sped back up. The new wells' fluid levels are down about 30% and DTS data is being collected. No new gas yet from them.
17 Dec 2024material agreement▲ GoodMajor
Binding MoU with German-backed Jens Energie to sell up to 0.6 TJ/day of pilot gas for power generation, for two years. It is conditional on TMK delivering 5,000 m3/day by 30 June 2025 and a detailed gas sales agreement. First early revenue pathway for the project.
13 Dec 2024investor presentation● Neutral
Webinar presentation repeating known project facts. Snapshot shows about 9.3bn shares, market cap about $18.6m and pro-forma cash about $2.5m after drilling. Targets first revenues in 2025. No new announcements.
2 Dec 2024production update▲ GoodMajor
The three new wells (LF-04, -05, -06) started pumping on the weekend, so all six Lucky Fox pilot wells are now running. Pump speeds rise over 6-8 weeks to reach critical desorption, when gas rates should increase materially. No gas rates are given.
27 Nov 2024drilling progress report● Neutral
Three new wells are completed and in final commissioning, with metering skids two-thirds done. All six wells will be ramped up slowly over 6-8 weeks. Management targets a successful outcome in Q1 2025. No gas results yet.
20 Nov 2024drilling progress report● Neutral
LF-05 and LF-06 now have tubing, pumps and DTS cable installed; LF-04 is to follow within days. Surface hookups are on schedule for production by end November. Pumps should reach full capacity early 2025, with pressure measurements from Q1 2025.
15 Nov 2024investor presentation● Neutral
Conference presentation repeating known points: 1,214 Bcf 2C contingent resource, six wells to be online soon, funded. It mentions a new strategic shareholder with about 9% ownership, which is the only new item. No new results.
13 Nov 2024drilling result▲ GoodMajor
Final pilot well LF-04 reached 503m with about 60m of net coal, as expected, completing the 2024 drilling campaign on time and on budget. The rig is leaving. Pumps are being fitted, with all six wells due on production by end of November.
4 Nov 2024capital raising announcement▲ GoodMajor
Trading resumes with $1.8m more raised at $0.002: a $1.5m placement of 750m shares (11% below the 15-day VWAP) plus about $0.3m for the shortfall from the entitlement offer, which had roughly 85% take-up. Company says it is now fully funded.
1 Nov 2024other● Neutral
ASX paused trading in TMK shares pending a further announcement. No reason is given in the text provided.
31 Oct 2024drilling result▲ Good
LF-06 drilled to 475m with about 60m of net coal, on prognosis and trouble free. Third and final well LF-04 starts within 24 hours; pumps go into LF-05 and LF-06. Wells are scheduled to be on production in late November 2024.
30 Oct 2024capital raising announcement● NeutralMajor
Entitlement and shortfall offers drew applications for 800.8m shares, raising $1.60m at $0.002 against the up to $1.9m sought. Shares and options are due to be issued on 1 November 2024. With the $1.34m placement, total is about $2.9m.
What it means for a shareholder
801m new shares at about A$0.002 to raise about A$1.6m. That's 22% dilution: every existing holder's slice gets 22% smaller. If you held A$1,000 of shares (500,500 at the issue price), your slice goes from 0.0174% to 0.0136% of the company. To keep it you'd need 139,167 more shares - about A$278 at the issue price.
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24 Oct 2024drilling progress report● Neutral
Reminder that the entitlement offer closes 25 October, with Board and management taking up most or all of their entitlements. LF-06 is drilling at 226m. The remaining wells are due to be on production within four to six weeks.
21 Oct 2024drilling result▲ Good
LF-05 reached 480m with about 60m of net coal, as expected and consistent with the three existing wells, drilled without problems. LF-06 started 20 October. The new wells are scheduled to be on production in late November 2024.
16 Oct 2024capital raising announcement● Neutral
Entitlement offer close extended three days to 25 October 2024. Directors and Australian management take 50% of fees in shares for six months, saving about $250,000 cash, and the company targets roughly 30% lower operating costs. Director share issue needs shareholder approval.
14 Oct 2024drilling progress report● Neutral
LF-05 has set surface casing at 261m and is drilling into the upper coal seam, expected at about 278m with total depth near 480m. LF-04 follows. Also announces an investor webinar on 16 October. No result yet.
11 Oct 2024capital raising announcement● Neutral
Entitlement offer prospectus and forms despatched; offer opens 11 October and closes 22 October 2024. Chair John Warburton's letter urges participation. Administrative step in the raising already announced, with no new terms beyond that.
8 Oct 2024drilling spud▲ GoodMajor
Drilling began on the first of up to three additional Lucky Fox pilot wells (LF-05), each expected to take seven to ten days. All three are expected to be finished in four to six weeks and put straight on production. Aim: reach critical desorption faster.
