Annuncio • Jan 16
Atrum Coal Limited Announces Company Secretary Changes Atrum Coal Limited announced that Ms. Priyamvada (Pia) Rasal has been appointed as Company Secretary, effective 14 January 2025. Ms. Rasal, an employee of Automic Group (the Company's corporate secretarial provider) will replace Mr. Hasaka Martin as Company Secretary with effect from 14 January 2025. Annuncio • Nov 14
Atrum Coal Limited has filed a Follow-on Equity Offering in the amount of AUD 5.795682 million. Atrum Coal Limited has filed a Follow-on Equity Offering in the amount of AUD 5.795682 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,448,920,380
Price\Range: AUD 0.004
Discount Per Security: AUD 0.0002
Transaction Features: Rights Offering Annuncio • May 03
Atrum Coal Limited, Annual General Meeting, May 31, 2024 Atrum Coal Limited, Annual General Meeting, May 31, 2024, at 09:00 E. Australia Standard Time. Agenda: To consider Adoption of Remuneration Report; to consider Re-election of Anita Perry as Director; to consider Election of Michael Fry as Director; to consider Change in Directors' Fees; and to transact such other business matters. Annuncio • Mar 28
Atrum Coal Limited Announces Board Changes Atrum Coal Limited advised of the appointment of Michael Fry as an Independent Non-Executive Director to the Company's Board. Kelvin Flynn has tendered his resignation as a Non-Executive Director of the Company effective 31 March 2024. The Board thanks Kelvin for his strong contribution to the Company and wish him well in his future endeavours. Michael Fry holds a Bachelor of Commerce degree from the University of Western Australia. He has extensive corporate and commercial expertise, as well as financial and capital market knowledge, including corporate treasury management, specialising in the identification of risk management strategies. Michael has been involved in the direction and management of a diverse range of ASX listed oil and gas exploration and production companies with interests in Australia, South Africa and the United States of America, as well as other resource focused companies in the position of non-executive Director and Chairman. Michael is currently the Non-Executive Chairman of ASX listed Brookside Energy Limited and until recently Non-Executive Chairman of Technology Metals Australia Limited, prior to the recent merger with Australian Vanadium Limited. Annuncio • Feb 02
Atrum Coal Limited has completed a Follow-on Equity Offering in the amount of AUD 5.015132 million. Atrum Coal Limited has completed a Follow-on Equity Offering in the amount of AUD 5.015132 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 564,446,954
Price\Range: AUD 0.004
Discount Per Security: AUD 0.0002
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 689,336,084
Price\Range: AUD 0.004
Discount Per Security: AUD 0.0002
Transaction Features: Rights Offering Annuncio • Dec 19
Atrum Coal Limited has filed a Follow-on Equity Offering in the amount of AUD 5.015132 million. Atrum Coal Limited has filed a Follow-on Equity Offering in the amount of AUD 5.015132 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,253,783,038
Price\Range: AUD 0.004
Discount Per Security: AUD 0.0002
Transaction Features: Rights Offering Annuncio • Oct 12
Atrum Coal Limited Announces Changes in Company Secretary Atrum Coal Limited announced that Mr. Hasaka Martin has been appointed as Company Secretary, effective immediately. Mr. Martin, an employee of Automic Group (the Company's corporate secretarial provider) will replace Ms Nova Taylor as Company Secretary with effect from today. Ms Taylor has resigned from her role to undertake opportunities outside of Automic Group. Annuncio • Jun 29
Atrum Coal Limited Announces CFO Changes Atrum Coal Limited announced that the Company's CFO, Mr. Jayram Hosanee, has resigned effective from 1 July 2023. The Company also announced that Patricia Penney has been appointed as CFO effective from 1 July 2023 and the terms of her appointment align with the Atrum's ongoing cost optimization measures. Patricia Penney is a Chartered Professional Accountant (CPA, CA) with over 20 years of accounting and audit experience. Patricia is currently the Interim CFO for Fortune Minerals Limited, a Canadian exploration and mining Company. Patricia has been in this position since June 2020, and prior to that she was the Controller, and has been with Fortune Minerals Limited for 10 years. Prior to joining Fortune, she worked at Caceis Canada Ltd., an asset servicing and fund administration company, as a Senior Manager. Recent Insider Transactions • Mar 11
Insider recently bought AU$122k worth of stock On the 9th of March, Jay Hughes bought around 21m shares on-market at roughly AU$0.0058 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$487k more in shares than they have sold in the last 12 months. Board Change • Jan 05
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Non-Executive Chairman Glen Koropchuk is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Annuncio • Dec 30
Atrum Coal Limited Announces Board Changes Atrum Coal Limited announced the appointment of Konrad de Kerloy as an Independent Non-Executive Director to the Company's Board. Richard Barker has tendered his resignation as a Non-Executive Director of the Company effective 31 December 2022. The Board thanks Richard for his very strong contribution to the Company over the almost 4 years that he has been on the Board, since February 2019. During that time, he has been actively involved in coordinating each of the Company's equity raisings, has assisted with Shareholder relations during these challenging times and also took a lead role in the selection process for the former CEO. Konrad is an experienced trial and appellate advocate. He has appeared as lead counsel in cases in the High Court, Federal Court, Supreme Court, District Court and the SAT. Konrad specialises in major commercial disputes and dispute resolution involving corporate governance, directors' duties, banking and financial instruments, breaches of contract, professional negligence, corporate insolvency and reconstruction and industrial and employee disputes. Konrad's extensive experience in high stakes disputes will be an asset to Atrum as it continues to advance is multi-billion dollar claim against the Government of Alberta for the de facto expropriation of its coal leases for the Elan Project. Annuncio • Dec 01
Atrum Coal Limited Announces Management Changes Atrum Coal Limited advised the appointment of Kelvin Flynn as an Independent Non-Executive Director to the Company's Board. Non-Executive Director Jeffrey Gerrard has tendered his resignation as a Non-Executive Director of the Company effective today. The Board thanks Jeff for his strong contribution to the Company and wish him well in his future endeavours. Kelvin is a qualified Chartered Accountant with over 31 years' experience in investment banking and corporate advisory roles, including private equity and special situations investments in the mining and resources sector. He has held various leadership positions in Australia and Asia, having previously held the position of Executive Director/Vice President with Goldman Sachs and Managing Director of Alvarez & Marsal in Asia. He has worked in complex financial workouts, turnaround advisory and interim management. Kelvin is currently the Managing Director of the specialist alternative funds manager Harvis, which focuses on structured credit finance, investments and advice in the real estate and natural resources sectors. Mr. Flynn is currently a Non-Executive Director of ASX listed Mineral Resources Limited and Silver Lake Resources Ltd. Recent Insider Transactions • Nov 16
Insider recently bought AU$94k worth of stock On the 14th of November, Jay Hughes bought around 16m shares on-market at roughly AU$0.0058 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$141k. Insiders have collectively bought AU$365k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Oct 28
Insider recently bought AU$141k worth of stock On the 26th of October, Jay Hughes bought around 20m shares on-market at roughly AU$0.007 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$264k more in shares than they have sold in the last 12 months. Annuncio • Jun 09
Atrum Coal Limited Announces Resignation of Bill Fleming as Director Atrum Coal Limited announced that Bill Fleming has resigned as a Director of the Company effective immediately. The Board and management of Atrum wish to express their appreciation for the dedication and hard work undertaken by Bill Fleming as Non-Executive Director during the past 2 years and his commitment to the Company. Board Change • Apr 27
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Director Richard Barker is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Annuncio • Feb 04
Atrum Coal Limited Provides an Update on the Recent Outcome of the Appeal Process for Benga Mining Limited Atrum Coal Limited provides an update on the recent outcome of the appeal process for Benga Mining Limited (Benga). On January 28, 2022, the single appeal judge issued her decision denying all three applications for permission to appeal. The permission to appeal test applied by the Court is a strict test which requires that any proposed grounds of appeal be a pure question of law and also have arguable merit. In this case: the judge found that, to the extent the applicants, Benga, Piikani, and Stoney Nakoda, raised errors of law, they did not have arguable merit; and with respect to other grounds, the judge found they did not constitute pure errors of law and were instead questions of fact. The result of this decision is that a full panel of three judges of the Alberta Court Appeal will not hear the appeals. However, each of Benga, Piikani and Stoney Nakoda have also filed judicial review challenges of the provincial component of the JRP decision with Alberta's Court of Queen's Bench. It remains to be seen whether the applicants will pursue these challenges which were held in abeyance pending the decision of the Alberta Court of Appeal. The findings of the Joint Review Panel and the subsequent ruling of the Alberta Court of Appeal apply specifically and only to Benga's Grassy Mountain application. Like any natural resource development project, new applications for metallurgical coal mines will be gauged on their individual merits using the comprehensive and rigorous regulatory frameworks of Alberta and Canada. Annuncio • Feb 01
Atrum Coal Limited Announces Resignation of Andrew Caruso as Chief Executive Officer Atrum Coal Limited announced that it has received notice of resignation from its current Chief Executive Officer (CEO), Andrew Caruso. While naturally disappointed with his decision, the Atrum Board is fully understanding of Andrew's desireto pursue another business opportunity. Andrew has readily confirmed his willingness to work his contractual notice period of up to three months in the interests of facilitating a smooth transition to new executive leadership. He will remain as CEO during this interim phase. Breakeven Date Change • Nov 24
No longer forecast to breakeven The analyst covering Atrum Coal no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of AU$1.77m in 2023. New forecast suggests the company will make a loss of AU$10.5m in 2023. Executive Departure • Aug 03
Non-Executive Director Charles Fear has left the company On the 27th of July, Charles Fear's tenure as Non-Executive Director ended after 3.9 years in the role. As of March 2021, Charles still personally held 7.80m shares (AU$437k worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.75 years. Breakeven Date Change • Jun 23
No longer forecast to breakeven The analyst covering Atrum Coal no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of AU$1.77m in 2023. New forecast suggests the company will make a loss of AU$10.5m in 2023. Annuncio • Apr 27
Atrum Coal Limited Announces the Suspension of Exploration on Category 2 Lands Until Completion of the Current Stakeholder Consultation Process Atrum Coal Limited advised that the Government of Alberta has announced the suspension of exploration on Category 2 lands until completion of the current stakeholder consultation process. This suspension is stated to be a function of the Alberta Government's intent to ensure the credibility of, and good faith embedded in, this consultation process. The suspension has no impact on the company as it had already halted exploration activities at its Elan Hard Coking Coal Project (Elan Project). These actions were undertaken in order to direct maximum focus, effort and good faith to the stakeholder consultation process. It has been confirmed that the exploration suspension does not apply to care and maintenance activities, including the collection of environmental data. As a result, the company will maintain limited environmental data collection through 2021 to preserve the continuity of this data (from previous years) and the overall integrity of this work to accurately inform future impact assessment submissions. The company is set to work intensively with all stakeholders over the course of this year to assist in the development of a balanced and fair coal policy that reflects modern and sustainable mining practices. Executive Departure • Apr 01
Independent Non-Executive Chairman Charles Blixt has left the company On the 25th of March, Charles Blixt's tenure as Independent Non-Executive Chairman ended after 3.6 years in the role. As of December 2020, Charles personally held 2.10m shares (AU$599k worth at the time). A total of 3 executives have left over the last 12 months. Executive Departure • Mar 31
Independent Non-Executive Director has left the company On the 26th of March, George Edwards' tenure as Independent Non-Executive Director ended after 3.6 years in the role. As of December 2020, George personally held 1.40m shares (AU$399k worth at the time). A total of 3 executives have left over the last 12 months. Executive Departure • Mar 30
Independent Non-Executive Chairman Charles Blixt has left the company On the 26th of March, Charles Blixt's tenure as Independent Non-Executive Chairman ended after 3.6 years in the role. As of December 2020, Charles personally held 2.10m shares (AU$599k worth at the time). A total of 3 executives have left over the last 12 months. Price Target Changed • Mar 26
Price target increased to AU$1.05 Up from AU$0.80, the current price target is provided by 1 analyst. New target price is 1,319% above last closing price of AU$0.074. Stock is down 56% over the past year. Annuncio • Jan 26
Atrum Coal Limited Appoints Nova Taylor as Joint Company Secretary Atrum Coal Limited announced the appointment of Nova Taylor as Joint Company Secretary. Ms Taylor has approximately 4 years' experience working in Company Secretary and assistant Company Secretary roles with listed companies. She previously worked for Computershare Investor Services Pty Limited in various roles for over 10 years. Nova has completed a Bachelor of Laws at Deakin University. Ms Taylor is currently Company Secretary of several ASX listed companies. Is New 90 Day High Low • Jan 21
New 90-day low: AU$0.27 The company is down 9.0% from its price of AU$0.29 on 23 October 2020. The Australian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: AU$0.34 The company is up 45% from its price of AU$0.23 on 08 September 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 10.0% over the same period. Annuncio • Nov 25
Atrum Coal Limited Advises an Interim Update to the Resource Estimate for the Isolation South Deposit at its 100%-Owned Elan Hard Coking Coal Project (Elan Project) in Southern Alberta, Canada Atrum Coal Limited advised of an interim update to the resource estimate for the Isolation South deposit at its 100%-owned Elan Hard Coking Coal Project (Elan Project) in southern Alberta, Canada. The 2020 drilling program at the Elan Project focused solely on Isolation South. The program comprised
125 rotary air blast (RAB) holes, 35 large diameter core (LDC) holes and 6 HQ geotechnical and
hydrogeological holes. The RAB holes were completed across a typical spacing of 100 to 200 metres.
The LDC drilling was designed to reduce the spacing between coal quality data points to around 250
metres; it achieved this along with excellent core recoveries. The program had both an infill and
extensional focus, aimed at significantly upgrading resource classification and potentially also expanding
the Isolation South resource base. Coal quality testwork is continuing at several laboratories. The comprehensive coring program in 2020
(35 LDC and 6 hydrogeology /geotechnical holes) resulted in over 400 seam composites being sampled,
prepared and submitted for testing, with the seam composites combined from discreet ply samples. The interim Isolation South resource estimate has been prepared based on the raw and clean coal quality
data that was available as at November 2020, with a minimum requirement of at least the raw quality test
results completed for a valid coal quality point of observation. Of the 35 LDC holes completed in 2020, 21 have been completed to at least raw quality testwork, while
12 have been completed through to testing of clean coal composites. Coal quality data used in the
geological model is also incorporated from two hydrogeology /geotechnical holes and 15 cored holes
drilled historically by Scurry Oil. Coal quality attributes for the coal resources reported are summarised in Table 5 below, as determined
from individual grid models for each quality variable on an individual ply basis. Coal quality attributes are
reported on an air-dried basis and weighted by resource tonnes. Coal core samples from the LDC program were submitted to GWIL Birtley in Calgary for detailed coal
quality, washability and clean coal laboratory testwork. Additional clean coal analysis is being completed
by COALTECH Petrographic Associates, USA (for clean coal characterisation tests). Blended products
are designed by Atrum and prepared by Birtley for delivery to coal carbonisation laboratories in Europe;
DMT Coal Coke Group (Germany) and INCAR (Spain). The data acquired from the coal quality testwork has been used to generate raw and clean coal quality
grid models, and the data will feed into the Coal Handling and Preparation Plant (CHPP) design, and
determination of practical processing yield and product specification within the current PFS. The core objectives of the 2020 exploration program at Isolation South were to demonstrate structural and
coal quality continuity of the four seam groups over the pit shell extent identified in the Scoping Study,
upgrade resource classification and to acquire the necessary data to underpin key Elan Project Pre-
Feasibility Study (PFS) workstreams (including mine planning, plant design and product strategy to
market). These aims have all been achieved. The significant increase in Measured and Indicated resources at Isolation South provides the potential for
declaration of a substantial maiden Coal Reserve in accordance with JORC (2012) following the targeted
completion of a successful PFS by mid-2021. More immediately, the magnitude of the classification upgrades delivered with the interim Isolation South
resource now allow us to enlarge and enhance the production target from the Elan Project Scoping Study
(April 2020). These outcomes are set to be presented in an Updated Scoping Study targeted for release
next month. Annuncio • Oct 08
Rum Coal Limited Reportd Further Coal Quality Results At Its 100%-Owned Elan Hard Coking Coal Project Atrum Coal Limited reported further coal quality results, including coke quality and carbonisation testwork outcomes, for the Isolation South deposit at its 100%-owned Elan Hard Coking Coal Project (Elan Project) in southern Alberta, Canada. These results are based on coal characterisation and carbonisation test work conducted on samples obtained from the first three (3) large diameter cored (LDC) drill holes completed in Isolation South during the current field program. Complemented by results from the 4 LDC holes drilled in early 2020, and earlier petrographic analysis of 51 RAB samples, the results supplement and bolster the already significant volumes of historical coal quality testwork conducted on the Isolation South deposit by previous owners of the Elan Project tenements. They are also additive to the significant coal and coke quality testwork results obtained for the Elan South deposits through the 2018 and 2019 exploration programs. Key conclusions and next steps: Coal quality analyses on more than 400 core samples from the current 33 LDC hole drilling program at Isolation South are ongoing. This release summarises the clean coal and coke quality results from the first three (3) Isolation South LDC holes of the current field program (ISLD20-04, 05 and 11). This testing was conducted across three different international laboratories. It comprised 28 composite core samples for clean coal quality results and 10 samples across all four (4) proposed production coal seams for the coke quality and carbonisation results. The results from this testwork are readily comparable to previous coal and coke quality results released for Isolation South, both by Atrum and previous owners. They confirm that Isolation South coal and coke quality is aligned with globally traded Tier 1 HCC products, including close correlation with product characteristics from the nearby Elk Valley HCC production complex. A comprehensive Isolation South coal-coke quality report is expected to be completed in Fourth Quarter 2020, which is planned to incorporate further individual coal seam and typical product blend characterisation and carbonisation testing, including large-scale (500+ kg) moveable wall oven testing. The results of this comprehensive testwork are planned to feed directly into the Elan Project Pre-Feasibility
Study (PFS), which remains on track for completion in mid-2021. The Isolation South Project mid-volatile hard coking product(s) are expected to be comparable to coking coal products currently produced and exported from the nearby Teck Elk Valley mines as well as all
other globally traded Tier 1 HCCs. Western Canada's Elk Valley coking coals are well renowned for their strong coking propensity, low ash
content, low to moderate fluidity, low basicity index and high CSR. The highly refractory nature of these Mist Mountain formation coals (high in kaolinite and silica) is an important marketing advantage for western Canadian hard coking coal exports. 