21 Apr 2008annual report● Neutral
Company confirms the 2007 annual report and AGM notice were sent to shareholders. Administrative only; the report repeats earlier information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Apr 2008annual report● Neutral
2007 annual report lodged. The chairman calls the year 'somewhat frustrating' as uranium market enthusiasm faded, while saying the Arizona JV and substantial cash remain and the board is seeking investments. Seven JV targets are listed. Text is truncated.
31 Jan 2008quarterly activities report▲ Good
December quarter: Liberty Star re-entered old drill holes, finding brecciated core and pyrite at Gala01, and began drilling Neola, hitting breccia at 175 feet. Neola, Helvia and Hafsa are being added to the JV; first program is three holes each. Follows the earlier negative drilling.
31 Oct 2007quarterly activities report● Neutral
September quarter: phase 1 of the Elle JV soil survey was completed, with assays expected by end of November. Loreto target was transferred to the JV. Drilling would follow only if the survey succeeds; directors still assess investments using cash reserves.
31 Oct 2007quarterly activities report● Neutral
Appendix 5B for September quarter: net operating outflow of $87,000, cash at quarter end $2.376 million, 55,079,593 shares on issue. Estimated next-quarter outflow is $150,000. Accompanies the quarterly report.
25 Sept 2007joint venture update▲ Good
Liberty Star transferred a 50% interest in four claims (about 83 acres) over the Loreto breccia pipe target to XState. Loreto lies within the Elle JV area; grid sampling assays were received and are being evaluated, with results to be released.
13 Sept 2007half year report● Neutral
Half-year to 30 June 2007: net loss $266,371 (versus $17,937), with cash of $2.46 million. Notes the Zeus acquisition signed 25 June and terminated 2 July, and director Douglas Wood's resignation on 10 April 2007. Text is truncated.
31 July 2007quarterly activities report● Neutral
June quarter: the Elle JV is running geochemical soil sampling, with Liberty Star prioritising the XState area. Detailed drilling would follow only if the survey is successful. No new results are reported in the text provided.
2 July 2007material agreement termination▼ BadMajor
XState and the Zeus vendors mutually agreed to drop the proposed Zeus acquisition announced on 25 June 2007. The Western Australian tenement deal will not proceed; no reason is given.
29 June 2007joint venture update● Neutral
Liberty Star started geochemical sampling of its uranium pipe targets, giving the XState JV area first priority. All pipes in the XState area have been sampled, with detailed sampling underway on Elle and Hermina. No results yet.
28 June 2007admin correction● Neutral
Company adds source references for data in the 25 June Zeus announcement, citing a Geoscience Australia uranium report and the Uranium Information Centre website. Administrative only.
25 June 2007asset acquisition disposition● NeutralMajor
XState signed a heads of agreement to buy 100% of Zeus Resources, holding 1 granted and 6 applied-for Western Australian tenements covering 3,654 km2, prospective for uranium and gold. This would add Australian ground beyond the Arizona JV; no price is given in the text provided.
13 June 2007regulatory community update● Neutral
A soil geochemical sampling program over three circular features in the Elle JV is planned to start in June 2007, with samples every 50 metres. This follows the failed drilling; success would be followed by detailed drilling, per the company.
30 May 2007agm notice● Neutral
All six resolutions passed at the 30 May 2007 AGM on a show of hands. Administrative only.
30 Apr 2007quarterly activities report● Neutral
March quarter: the two holes found no pipe, and partners are reviewing geochemistry and geophysics before the next phase. Of the US$2.9 million paid into the JV, US$2.3 million remains, and XState holds A$2.5 million cash in its own right.
27 Apr 2007annual report● Neutral
Company confirms the 2006 annual report and AGM notice were sent to shareholders. Administrative only; the report repeats earlier results.
16 Apr 2007drilling result▼ BadMajor
The first two Elle JV holes (Elle and Hada targets) found no breccia pipe material, and downhole surveys and an airborne survey found no conductors. The Hermina hole was postponed. First-phase result is negative; partners will try other techniques.
29 Mar 2007director officer appointment● Neutral
Rhod Grivas joined as a non-executive director, bringing over 19 years of exploration experience. Adds geological expertise to a board of Kestel, McArthur and Wood as the Elle drilling proceeds.
22 Mar 2007annual report● Neutral
Full-year 2006 annual report lodged. It describes the 50% Elle JV with Liberty Star, funded by XState's US$2.9 million, and its Arizona Strip pipe targets. Repeats previously announced facts; the text provided is truncated.
23 Feb 2007drilling progress report● Neutral
Liberty Star reports the first Elle hole (RDH Elle 01), collared 15 February 2007, was at 1,185 feet. It hit pyrite-bearing rock at 335 feet and the Hermit shale at 1,000 feet, with up to 17 ppm uranium in analysed shale. No breccia pipe result yet.
9 Feb 2007drilling scheduled● Neutral
Drilling at the Elle JV in Arizona will begin mid-February 2007: 4,500 feet of rotary and 32,160 feet of diamond drilling across three breccia pipes. Liberty Star runs the program, which sets up the first test of the uranium targets.
31 Jan 2007quarterly activities report● Neutral
No exploration was done in the December 2006 quarter. About $3.75 million of the $6 million raise went into the 50% Elle JV with Liberty Star; trading resumed 15 December 2006. Drilling of three pipes is scheduled for February 2007.
4 Jan 2007admin correction● Neutral
Company confirms no shares will be issued under the 20 December 2006 technical prospectus. Administrative only, with no effect on funds raised.
20 Dec 2006capital raising announcement● Neutral
Small technical prospectus for up to 30,000 shares at 20 cents (up to $6,000), prepared only to remove trading restrictions on recently issued shares. Not a real fundraising.
What it means for a shareholder
30,000 new shares at A$0.200 to raise about A$6,000. That's 0.0563% dilution: every existing holder's slice gets 0.0563% smaller. If you held A$1,000 of shares (5,000 at the issue price), your slice goes from 0.00938% to 0.00938% of the company. To keep it you'd need 3 more shares - about A$1 at the issue price.
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20 Dec 2006joint venture update▲ GoodMajor
Liberty Star says the Elle JV started 15 December 2006 after XState transferred US$2.9 million, earning 50% of three breccia pipes. Planned work is 4,500 feet of rotary drilling and 32,160 feet of diamond drilling.
4 Dec 2006capital raising announcement▲ GoodMajor
The prospectus raising closed oversubscribed on 30 November 2006 and the board accepted the $6.0 million maximum at 20 cents a share. The money funds the Arizona uranium JV, where XState sole funds US$2.9 million for 50%.
2 Nov 2006capital raising announcement▲ GoodMajor
Prospectus lodged to raise up to $6 million via 30,000,000 shares at 20 cents, minimum $5 million. Funds will support the Arizona uranium joint venture with Liberty Star, where XState earns 50% by spending US$2.9 million.
What it means for a shareholder
30.0m new shares at A$0.200 to raise about A$6.0m. That's 58% dilution: every existing holder's slice gets 58% smaller. If you held A$1,000 of shares (5,000 at the issue price), your slice goes from 0.023% to 0.00966% of the company. To keep it you'd need 6,887 more shares - about A$1,377 at the issue price.
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20 Sept 2006director officer appointment● Neutral
Douglas Wood was appointed director, while Anthony Crimmins, Michael Taverner and David Roche resigned. This completes the turnover of the old shell board, leaving Kestel, McArthur and Wood in the prospectus's director list.
6 Sept 2006agm notice▲ Good
At a general meeting all resolutions passed. David McArthur and Ross Kestel joined the board, and the company will be renamed XState Resources Limited. This clears a step towards the Arizona uranium venture.
4 Aug 2006half year report● Neutral
Half-year to 30 June 2006: the company stayed dormant with a $17,937 loss and net liabilities of $131,384. $400,000 of convertible notes converted into 5,000,000 shares, and the Arizona deal is flagged as the recapitalisation.