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ALTO METALS LIMITED (AME)

Listed on ASX

SHARE PRICES

(updated at weekends)

Former (or subsequent) names

Shareholder links

Our website ranking of AME: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Automic Registry Services Level 5 126 Phillip Street Sydney NSW 2000

Tel : +61 (2) 8072 1400 or 1300 288 664 (within Australia)
Fax :
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000AME0
Address: Suite 9, 12-14 Thelma Street WEST PERTH WA 6005
Tel:  (08) 9381 2808 Fax: +61 8 9381 5545

Date first listed: 20/12/2012
Company Secretary: Graeme Smith
Sector: Energy Industry Group: XEJ
Activities: Mineral exploration

The suspension of trading in the securities of Alto Metals Limited will be lifted immediately, following the release by AME of an announcement.

15/07/2020

Strong support received for the Entitlement Offer with $2.6 million already secured by commitments under the Institutional Entitlement Offer for $1.7 million and from other major shareholders to participate in the Retail Entitlement Offer for $0.9 million. Both Institutional and Retail Entitlement Offers form part of the Company's $5.1 million capital raising at $0.07 per share. Statements of intention received from key shareholders holding 38.15% of the issued shares in Alto, that they do not intend to accept the Habrok Offer. Strong endorsement of the potential of Sandstone Gold Project, with drilling currently underway. Interim orders made by the Takeovers Panel in response to an application made by Habrok, deferring settlement of the Institutional Entitlement Offer and delaying the Retail Entitlement Offer.

15/07/2020

The President of the panel has made interim orders in response to an application for interim orders by Habrok in relation to the affairs of Alto Metals. The interim orders state in effect that Alto must immediately take all action necessary to defer its entitlement offer announced on 13 July 2020 until further order of the panel.

15/07/2020

The securities of Alto Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of AME.

15/07/2020

The suspension of trading in the securities of Alto Metals Limited will be lifted immediately following the release by AME of an announcement regarding the takeover offer made by Goldsea Australia Mining Pty Ltd.

28/05/2020

Goldsea will increase the offer consideration payable under its offer for the Alto shares from the original offer price of $0.065 cash per share, to $0.075 cash per share. There has been no change to the offer consideration payable under Goldsea's offer for the Alto options. The offers remain conditional on Goldsea receiving FIRB approval. Goldsea has agreed with FIRB to a further voluntary extension until 30 June 2020 for FIRB to continue its process. The closing date for the Goldsea Takeover Offers is now 7.00pm (Sydney time) on 8 July 2020. In relation to the Habrok proposal, an offer has yet to be made, and the Directors continue to advise that shareholders take no action in respect of it.

28/05/2020

The company releases a supplementary bidder's statement.

28/05/2020

The securities of Alto Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of AME, pending the release of an announcement regarding the takeover offer made by Goldsea Australia Mining Pty Ltd.

27/05/2020

The suspension of trading in the securities of Alto Metals Limited will be lifted immediately, following the release by AME of an announcement regarding exploration results and a corporate update.

16/03/2020

First three holes (SRC174-176) drilled since the Lord Nelson Mine closed (2010), targeting primary zone shoots below the open pit, all intercept a wide zone of high-grade gold mineralisation. High grade gold results on wide spaced drilling (80m x 50m spacing). The newly intersected gold mineralisation highlights the significant potential in primary zone below Lord Nelson pit, which remains open in all directions. Mineralisation style and geological setting is identical to that of the Lord Nelson deposit. Further assays are pending from a further five holes from deeper drilling testing fresh rock below the Lord Nelson pit and will be released as and when available. Mineralisation now confirmed to extend at depth below the pit in addition to, also remaining open ~200m along strike to the south of the Lord Nelson pit, with recent results. The Lord Nelson target is analogous to depth extensions demonstrated for many other major Yilgarn orogenic gold deposits. Alto's Sandstone Gold Project covers +800km2 and comprises the vast majority of the highly prospective and under-explored Sandstone Greenstone Belt.

16/03/2020

The company has entered into a Loan Facility Agreement for up to A$1m with its largest shareholder, Windsong Valley Pty Ltd, an entity associated with NonExecutive Director, Terry Wheeler. The Facility provides Alto with the flexibility to draw down for working capital as required to ensure the continuation of planned exploration at Lord Nelson. The provision of this Facility demonstrates the continued support from our largest shareholder and their commitment to seeing the unrealised value of Sandstone unlocked through ongoing exploration. Also, che Company's Board is considering its response to Goldsea and reiterates that shareholders should continue to TAKE NO ACTION, and await the Board's formal recommendation in the Target's Statement.

16/03/2020

The company lodges its Half Yearly Report and Accounts.

16/03/2020

The securities of Alto Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of AME, pending the release of an announcement regarding exploration results and a corporate update.

13/03/2020

Trading of the 56,875,060 Alto Metals Limited shares issued under the shortfall placement and quoted under the ASX code AMENA will be suspended in accordance with Listing Rule 17.2, pending a further announcement by Alto Metals Limited. Please note that the suspension applies to the shortfall shares quoted under the AMENA code only, and does not apply to any other quoted securities of AME. For further details, please see AME's announcement of 4 June 2019.

06/06/2019

The suspension of trading in the securities of Alto Metals Limited will be lifted from the commencement of trading on Thursday, 6 June 2019.

05/06/2019

MDI notes that there was no disclosure of the timing of the shareholder approval of the proposed placement to AME's Chair. AME announced its intention to do so on 6 May 2019 and, in accordance with ASX's Listing Rules, AME shareholders are required to approve this placement before it can proceed. AME has not, as of the date of this announcement, called a meeting of shareholders to approve this issue or provided any further update on this matter. The capital structure of AME is central to MDI's decision-making process in relation to the offer and MDI reserves the right, but is not under any obligation, to extend the takeover offer to the Shortfall Shares and/or any new AME shares issued to the AME Chair.

05/06/2019

Following consultation with ASX, ASX has now advised the Company that the New Shares will be quoted under avseparate code (ASX:AMENA) and the options attached to the New Shares will be under a separate code (ASX:AMEAJ) until the earlier of: Middle Island withdrawing the takeover offer; 5pm (AWST) on 28 June 2019 or such later date if the offer period for Middle Island's takeover offer is further extended by MDI; and The date on which MDI announces that the takeover will extend to the New Shares, following receipt of ASIC relief to extend the takeover offer to the New Shares, at which point Alto will apply to the ASX to have the New Shares quoted under the "˜AME' ticker code. Any options exercised under the code "˜AMEAJ' will be issued shares under the code "˜AMENA' until such time as the New Shares are quoted under the "˜AME' ticker code. The company anticipates that its shares under the AME ticker code will recommence at market open on 6 June 2019.

04/06/2019

The company requests an extension of its voluntary suspension to provide an update on the shortfall placement shares in relation to the current takeover from Middle Island Resources. Middle Island has still not advised if they will be extending the takeover offer of the shortfall placement shares to those new shareholders and if so when this will be done. Alto expects that the suspension will end on the earlier of the commencement of normal trading on Friday 7 June 2019 or when an announcement in relation to the above is released to the market.

03/06/2019

The percentage and number of acceptances quoted in its announcement earlier today were incorrect. The percentages and numbers quoted were based on incomplete information provided to the Company in relation to the acceptances received. Alto however still notes that, after four weeks, there has only been a 1.5% acceptance of the Offer from Middle Island Resources.

27/05/2019

In the absence of a further extension, Middle Island's takeover offer for all of the shares in the Company as at the record date of 16 April 2019 is now scheduled to close at 5.00pm AWST on 28 June 2019. The directors continue to recommend that shareholders reject the Middle Island offer by taking no action.

27/05/2019

The company requests an extension of its voluntary suspension to provide an update on the shortfall placement shares in relation to the current takeover offer from Middle Island Resources. Middle Island has still not advised if they will be extending the takeover offer of the shortfall placement shares to those new shareholders and if so when this will be done. Alto expects that the suspension will end on the earlier of the commencement of normal trading on Monday 3 June 2019 or when an announcement in relation to the above is released to the market.

27/05/2019

Middle Island Resources Limited advises that it has extended the offer period for the offer. The offer is now scheduled to close at 5pm (WST) on 28 June 2019 or such later date to which the offer period is extended.

24/05/2019

Middle Island Resources Limited would like draw two matters, which MDI is currently reviewing, to the attention of investors. It appears to MDI that some of the Shortfall Shares were issued contrary to the terms of the Prospectus, in that some appear to have been issued to Eligible Parties, as defined in the Prospectus. If so, the defeating condition of the Offer set out in Section 9.10(h) of MDI's Bidder's Statement has been triggered and MDI reserves its right to rely on the trigger of this defeating condition to allow the Offer to either lapse or to apply for ASIC consent to withdraw the Offer. If the Offer does lapse or ASIC consents, on application by MDI, to the withdrawal of the Offer, no MDI Shares will be issued to any AME shareholder under the Offer and, accordingly, all AME shareholders will retain their AME shares. In the interim, the MDI Offer remains open. MDI stresses that AME was, or should have been, aware of the consequences of issuing the Shortfall Shares by the terms of the Offer and record date which were clearly stated in the Bidder's Statement. The suggestion that AME's suspension was of MDI's making is refuted.

23/05/2019

The securities of Alto Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of AME, pending the release of an announcement regarding an update on the shortfall placement shares in relation to the current takeover offer from Middle Island Resources Ltd.

16/05/2019

The suspension of trading in the securities of Alto Metals Limited will be lifted immediately following the release by AME of an announcement regarding AME's board composition.

27/02/2019

The securities of Alto Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of AME, pending the release of an announcement regarding AME's board composition.

26/02/2019

name changed from Enterprise Uranium Limited

27/05/2016

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    13/11/2018Terry Wheeler25,556$0.045$1,150
    01/11/2018Dermot Ryan329,613$0.049$16,151
    25/10/2018Dermot Ryan70,387$0.045$3,197
    09/08/2018Dermot Ryan163,149$0.046$7,574
    06/08/2018Dermot Ryan26,851$0.049$1,316

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Richard MontiNon Exec Chairman, Independent Director13/03/2020
    Matthew BowlesManaging Director, CEO27/02/2019
    Jingbin WangNon Exec Director12/10/2016
    Terry WheelerNon Exec Director02/12/2016

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Patrick HolywellCFO28/02/201827/02/2019
    Dermot RyanNon Exec Director, CEO08/08/201227/02/2019
    Terry StreeterNon Exec Chairman13/03/201808/11/2018
    Stephen StoneNon Exec Director23/06/201617/07/2018
    Sam MiddlemasCFO15/07/201628/02/2018
    Bill RobertsonNon Exec Director09/09/201402/12/2016
    Anna MaoNon Exec Chairman14/09/201212/10/2016
    Arron CanicaisCFO15/07/2016
    Piers LewisCFO01/10/201401/06/2016
    Zhen HuangNon Exec Director14/09/201201/10/2015
    Damian DelaneyExecutive Director, CFO02/04/201309/09/2014
    Michael AtkinsNon Exec Director14/09/201201/04/2014
    Simon FlemingManaging Director04/02/201326/06/2013
    Dennis WilkinsCFO08/08/201202/04/2013
    Trevor SaulManaging Director14/09/201225/01/2013

    Date of first appointment, title may have changed.