Past year: ▲ 5900%(0.20c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Apr 2024listing compliance notice▼ Bad
TMK admits it inadvertently breached a listing rule by issuing 25m placement shares ($100,000) to largest holder Zantav without shareholder approval. The shares are under a holding lock, and the AGM will vote to release them.
18 Apr 2024capital raising announcement● Neutral
The share purchase plan closing date is extended two weeks to 6 May 2024, citing Easter postal delays. Terms are otherwise unchanged and a shareholder webinar is planned. Results are due 8 May.
15 Apr 2024agm notice● Neutral
AGM set for 23 May 2024 in West Perth. Director nominations close 22 April. Administrative notice.
10 Apr 2024admin correction● Neutral
Corrects a typo in the share purchase plan cover letter, where the word Imugene appeared instead of TMK. Administrative only; the plan terms are unchanged.
28 Mar 2024other● Neutral
Corporate governance statement as at 28 March 2024, covering the year to 31 December 2023. Says practices comply in all material respects with ASX principles. Administrative; no new business information.
28 Mar 2024other● Neutral
Appendix 4G, the checklist pointing to the governance statement, lodged with the annual report for the year to 31 December 2023. Administrative filing with no new substance.
28 Mar 2024annual report● Neutral
Annual report for the year to 31 December 2023. The board says three pilot wells were drilled and began producing gas, and a strategic partner campaign is planned for 2024. It also says a small equity raise was closed to fund the next phase. Financials were not in the text provided.
25 Mar 2024investor presentation● Neutral
March 2024 corporate presentation restating the 1,214 Bcf (2C) and 5,300 Bcf (2U) resources and the 100% ownership. It says 2024 milestones are now funded. Nothing new is visible in the text provided.
22 Mar 2024capital raising announcement● Neutral
Offer documents for the share purchase plan: eligible Australian and New Zealand holders can buy $1,000 to $30,000 of shares at $0.004, a 4.8% discount to the five-day average price. Closes 22 April. Options attached are subject to shareholder approval. Details the March raise.
21 Mar 2024capital raising announcement● NeutralMajor
TMK raised $2.53m in a placement of 633m shares at $0.004, each with a free option at $0.008 to April 2027, to fund infill wells at Gurvantes. A $1.5m share purchase plan for existing holders is offered on the same terms. Largest holder Zantav took 25m shares.
What it means for a shareholder
633m new shares at A$0.004 to raise about A$2.5m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (250,000 at the issue price), your slice goes from 0.00868% to 0.00712% of the company. To keep it you'd need 54,948 more shares - about A$220 at the issue price.
Create a free account to see this worked out for your own holding.
27 Feb 2024well test result● NeutralMajor
Shut-in tests show reservoir pressure has fallen about 500kPa since July. A further 750-1,000kPa drop is needed to reach critical desorption, when material gas rates are expected. An independent review by Cipher Consulting says more time or wells will likely be needed. The 1.2 TCF estimate is unchanged.
31 Jan 2024quarterly activities report● Neutral
December quarter report: 100% ownership completed and December gas output 50% above November. Shut-in tests have begun, and TMK has over $3m of cash and liquid assets, down from $6.8m in June. It has started a process to find a strategic partner for the project.
8 Jan 2024production update▲ Good
December gas output was 200.4 mscf, about 50% above November and 335% above October, with 99% uptime. Winterisation is complete and water is down to about 460 barrels a day. Rates remain low, and TMK expects an expanded 2024 pilot program.
22 Dec 2023security holder rights change● Neutral
TMK processed the distribution of 1,001,017,238 shares and 500,508,618 options to Talon shareholders. Of the shares, 166,033,268 are under voluntary escrow to 30 June 2024. Completes the Talon consolidation; the share count rises by about 1.09bn.
8 Dec 2023capital raising announcement● Neutral
Prospectus for the issue of up to 1.1bn shares and 550m TMKOB options to Talon as consideration for the Gurvantes deal. It is a transaction-specific document needed to make the securities freely tradeable; it raises no cash.
8 Dec 2023joint venture update● Neutral
Talon confirms the transaction is complete and will distribute about 1.001bn TMK shares and 500.5m options to its shareholders, record date expected 15 December. That is about 1.511 TMK shares per Talon share. Largely repeats TMK's completion news.
8 Dec 2023asset acquisition disposition▲ GoodMajor
TMK completed the Talon acquisition and now holds 100% of Gurvantes XXXV, issuing 1,092m shares and 546m listed options. It received $600,000 cash from Talon plus about $150,000 held in the acquired entities. This resolves the October agreement.
6 Dec 2023production update▲ GoodMajor
First gas rates reported: the highest daily rate was about 13,000 scfd on 30 November, with November output 130.5 mscf, roughly double the first month. TMK says rates are still low and not final. Both shareholder meetings approved the Talon deal.
17 Nov 2023investor presentation● Neutral
Noosa Mining Conference presentation restating known points: the 1.2 TCF (2C) and 5.3 TCF (2U) resources and the pending move from 67% to 100% of Gurvantes XXXV. Nothing new is visible in the text provided.
31 Oct 2023quarterly activities report▲ Good
September quarter report: gas flows from all three Lucky Fox wells, with Lucky Fox-3 pump stoppages from coal solids fixed. The Terra-area program is expanded to up to 8 cored wells. The Talon deal vote is set for 30 November, with completion expected mid-December.
13 Oct 2023security holder rights change● Neutral
1,005,000,000 shares held by major shareholder Tsetsen Zantav come out of voluntary escrow on 28 October 2023. The escrow dated from the April 2023 $5.7m raise. TMK says he has not sold any of his non-escrowed shares.
11 Oct 2023asset acquisition disposition▲ GoodMajor
Talon and TMK signed a binding heads of agreement for TMK to buy Talon's 33% of Gurvantes XXXV for up to 1.1 billion TMK shares and 550m listed options. This would take TMK to full ownership; it is subject to a Talon shareholder vote expected late November 2023.
11 Oct 2023asset acquisition disposition▲ Good
TMK signed a binding agreement to buy Talon's 33% of Gurvantes XXXV for up to 1.1bn shares and 550m listed options, giving it 100%. Talon adds A$850,000 toward project costs. Needs both companies' shareholder votes, expected late November 2023.
9 Oct 2023drilling result▲ GoodMajor
Terra-area well BHN23_002C intersected about 45m of net coal with moderate to high gas content, in the same formation as Nariin Sukhait about 100km west, so four more wells are added. The two earlier wells found thin coal with low gas. Lucky Fox-3 had pump problems from coal fines.
12 Sept 2023half year report● Neutral
Interim report for the six months to 30 June 2023 (the new year-end change period). It covers the pilot wells drilled on time and budget, the April $5.7m placement and 5,030,579,300 shares on issue. Financial figures are not visible in the text provided.
8 Sept 2023investor presentation● Neutral
September 2023 Good Oil Conference presentation restating known points: the 1,214 Bcf (2C) contingent resource, 5.3 TCF prospective resource and 67% interest. The text provided is truncated and shows nothing new.
1 Sept 2023production update● Neutral
Pilot wells continue as expected, with gas continuously flared and water peaking near 630 barrels a day. The Lucky Fox-3 pump was replaced in under two days, and a test showed the wells are connected. The Terra exploration program has begun; no gas rate is yet given.
29 Aug 2023material agreement▲ GoodMajor
TMK signed a two-year exploration cooperation agreement with Terra Energy, which operates the Baruun Noyon Uul coal mine in the project area. At least four cored wells and about 40 km of 2D seismic will be drilled, with drilling and seismic costs split 50/50.
9 Aug 2023joint venture update▲ Good
Talon repeats TMK's news that continuous gas flow is established from all three pilot wells, with an initial flow rate due in several weeks. Duplicates TMK's announcement; no new information.
9 Aug 2023flow test result▲ GoodMajor
Sustained gas flow is now established from all three Lucky Fox wells, sufficient for continuous flaring, following the unsustained three-hour flare of 24 July. An initial gas rate is expected in several weeks; commercial significance still depends on the six-month test.
