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COUGAR METALS NL (CGM)

Suspended from ASX

Former (or subsequent) names

 

Shareholder links

Our website ranking of CGM: 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: AU000000CGM1
Address: Ground Floor, 16 Ord Street, West Perth WA 6005
Tel:  08 9482 0580 Fax: +61 8 6102 1788

Date first listed: 16/12/2003
Company Secretary: Ben Donovan
Sector: Materials Industry Group: XMJ
Activities: Exploration company focused on discovering gold at the Alta Floresta Project in Brazil

Following a resolution passed by creditors at the second meeting of creditors, the Company executed a Holding Deed of Company Arrangement on 20 August 2020 and Daniel Bredenkamp and Bryan Hughes were appointed Joint and Several Deed Administrators of the Company on that same day.

24/08/2020

Shareholders in this company should consider crystallising a capital loss in 2020/21 by selling their worthless shares, which they can achieve online by entering transaction details here. While this usually makes good economic sense, we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

13/08/2020

At the first meeting of the company's creditors held today, creditors ratified the appointment of the administrators. Creditors also elected not to appoint a committee of inspection to the company. The second meeting of the company's creditors is to be held on or before 4 August 2020. At this meeting, the creditors will be asked to make a decision regarding the future of the company. Administrators note that they intend to either: adjourn the second meeting for up to 45 business days; or seek an order from the Supreme Court of Western Australia extending the convening period to enable the second creditors' meeting to be held at a later date. In relation to the dispute with Richore, the decision by the warden has been received. The decision was in favour of the 'Company, stating that the warden was satisfied that the "˜Company has established there is a serious question to be tried in that there is a primae facie case with a sufficient likelihood of success that it has an interest in the whole of M39/15 9'1. The company has relied upon the ASIC's Instrument 2015/251 which provides relief in respet of the company's obligation to prepare, lodge and have audited its full-year financial reprot and directors' report in respect of the period ending 30 June 2020 for a period of up to 6 months from the date of the administrators' appointment. .

10/07/2020

At approximately 2:00PM on 30 June 2020, the Board of Directors appointed Bryan Hughes and Daniel Bredenkamp of Pitcher Partners as Joint and Several Administrators of the Company pursuant to section 436A of the Corporations Act 2001.

30/06/2020

The company lodges its Quarterly Activities Report.

01/05/2020

The company lodges its Quarterly Cashflow Report.

30/04/2020

The company lodges its Quarterly Cashflow Report.

31/01/2020

The company lodges its Quarterly Activities Report.

31/01/2020

The arbitration award found that Cougar had in fact breached the Settlement Agreement by making disparaging remarks to a DNI shareholder regarding DNI's management, but the arbitrator found that DNI had not proven nor suffered any damages. DNI was ordered to pay Cougar CAD 4250 and the award also directed that the payment of CAD 250,000 from DNI to Cougar, due on July 25, 2019 to rectify a default, was due and payable on December 4, 2019. As per DNI's market release of 8 December, 2019 DNI claims that all payments are suspended due to a second notice of default issued by DNI dated 5 November, 2019. DNI has failed to initiate arbitration to determine damages or seek other relief in relation to any alleged breach by Cougar and consequently there is no dispute pending determination by the arbitrator, and no suspension of any payments is applicable. As DNI failed to make the payment on due on 4 December, 2019 to rectify its default on the payment due 22 June, 2019, the full remaining settlement amount of CAD 2.25M became due and payable. Failing a new agreement being reached with the current management of DNI, Cougar will enforce this debt in the courts of Ontario and Madagascar.

10/12/2019

The company lodges its Quarterly Cashflow Report.

31/10/2019

The company lodges its Quarterly Activities Report.

31/10/2019

Cougars FY19 accounts have been prepared and are undergoing the audit process which has not been concluded as yet. Whilst a review of the Company's working capital, current debt structure and receipt of payments from debtors is underway the Board believes that it is prudent to remain suspended.

01/10/2019

The company's securities will be suspended from Official Quotation in accordance with Listing Rule 17.5 from the commencement of trading today, 1 October 2019, following failure to lodge the relevant periodic report by the due date.

01/10/2019

The suspension of trading in the securities of Cougar Metals NL will be lifted immediately following the release by the Company of an announcement regarding a funding agreement.

06/06/2018

Cougar has executed a funding arrangement with The Lind Partners, LLC for funding of up to A$3.15 million. Funding will be provided as a combination of the issue of Convertible Notes and ordinary shares.

06/06/2018

The securities of Cougar Metals NL will be suspended from quotation immediately under Listing Rule 17.2, at the request of the Company, pending the release of an announcement regarding a funding arrangement.

05/06/2018

The securities of Cougar Metals NL will be reinstated to official quotation immediately following the release of an announcement regarding exploration results.

15/01/2018

The company provides an update on further geological mapping, soil and rock chip sampling of the Solonopole/Ceara Lithium Project, Brazil. Regional geological mapping has identified additional pegmatite outcrops. Grab Samples have returned further high-grade results comprising Amblygonite and Lepidolite lithium minerals returning grades of up to 9.33% Li2O.

15/01/2018

The securities of Cougar Metals NL will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement regarding exploration results.

12/01/2018

The suspension of trading in the securities of Cougar Metals NL will be lifted immediately, following receipt of an announcement in relation to exploration results.

02/10/2017

The company provides an update on the first pass mapping, soil and rock chip sampling of the Solonopole Lithium Project, Brazil.10 small scale historical lithium mines are identified to date. Two target zones each approximately 10km in strike have been identified with clusters of outcropping pegmatites. Grab sampling has returned high grade lithium results within Amblygonite pegmatites with the top 10 samples returning grades between 1.5% Li2O and 9.29% Li2O.

02/10/2017

The securities of Cougar Metals NL will be suspended from official quotation immediately, at the request of the Company, pending the release of an announcement regarding exploration results.

02/10/2017

The suspension of trading in the securities of Cougar Metals NL will be lifted immediately, following receipt of an announcement.

31/08/2017

The company provides further drilling results from the Tomasina Saprolitic Graphic Project, Madagascar. Cougar is earning a 50% interest in the Project by completing a PEA to NI 43-101 standards utilising a minimum of 3000m of drilling and 1000m of trenching. The latest drill results comprise of a further sixteen holes (16) holes and one trench from the Main Zone and complement the results from the initial results of 3 holes released to the ASX on 27 July.

31/08/2017

The company provides a response in relation to the ASX letter regarding the change in the price of the company's securities from a close of $0.012 to a high of $0.017 and the increase in the volume of trading in securities.

31/08/2017

The company provides an update on the exploration activities with the Ceara Lithium Project, Brazil (CGM 85%).

31/08/2017

The securities of Cougar Metals NL will be suspended from official quotation from the commencement of trading today at the request of the Company, pending a response to a price query letter received from the ASX.

29/08/2017

The suspension of trading in the securities of Cougar Metals NL will be lifted immediately, following the release by the Company of an announcement regarding a capital raising.

29/03/2017

The company is pleased to announce a share placement to professional and sophisticated investors utilising the Company's 15% placement capacity and 10% enhanced placement capacity. In total, 164,285,714 new shares will be issued at an average price of 0.7 cents per share to raise $1.15 million.

29/03/2017

The securities of Cougar Metals NL will be suspended from official quotation immediately, at the request of the Company, pending the release of an announcement regarding a capital raising.

27/03/2017

The suspension of trading in the securities of Cougar Metals NL (the "Company") will be lifted immediately, following the release of the Company" announcement. Security Code: CGM

05/02/2013

The securities of Cougar Metals NL (the "Company") will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement. Security Code: CGM

01/02/2013

shares reinstated to quotation

04/10/2011

suspended from quotation following failure to lodge financial reports

03/10/2011

the suspension of trading in the securities of Cougar Metals NL (the "Company") will be lifted immediately following receipt of an announcement by the Company

29/07/2011

the securities of Cougar Metals NL (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement regarding exploration results

29/07/2011

shares reinstated to quotation

01/04/2010

securities suspended pending an announcement

31/03/2010

shares reinstated to quotation

20/07/2005

company announces that it has executed an agreement with the Murrin Murrin Joint Venture participants for the sale of Cougar's interests in the Toomey Hill & Pyke Hill Nickel Laterite Projects in a deal that will generate $5.05 million in immediate cashflow for the company

19/07/2005

reports on the status of the Brazilian gold tailings joint venture and indicates that an announcement relating to the suspension of the company's securities "is expected to be released by Cougar in the coming days, following which the securities of Cougar will resume normal trading" - a writ has been served on Ashburton and TPG seeking performance of their obligations as well as damages

15/07/2005

why no notification to the market regarding the announcement foreshadowed by the release of 2 June 2005? - when are shares to be re-quoted? why are shareholders not being kept informed?

08/07/2005

shares suspended from quotation pending an announcement

02/06/2005

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

     

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Randal SwickExecutive Chairman24/05/2002
    Scott ReidNon Exec Director01/08/2019
    David SymonsNon Exec Director01/09/2015

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Brian ThomasIndependent Director08/06/201701/08/2019
    Brett TuckerCFO14/06/201731/01/2019
    Michael FryCFO05/08/201114/06/2017
    Paul HardieNon Exec Director18/02/201001/09/2015
    Roger HusseyChairman25/07/201227/11/2014
    Jeffrey MooreNon Exec Director20/08/200829/11/2012
    Melissa FryCFO13/01/200930/11/2009

    Date of first appointment, title may have changed.