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POSEIDON NICKEL LIMITED (POS)

Listed on ASX

Former (or subsequent) names

 FROMTO
POSEIDON NICKEL LIMITED25/07/2007
NIAGARA MINING LIMITED13/05/200225/07/2007
RENEWABLE INVESTMENTS LIMITED24/08/200113/05/2002
WELLS GOLD CORPORATION LIMITED24/12/199924/08/2001
WELLS GOLD CORPORATION NL06/07/199424/12/1999
WELLS FARGO GOLD NL06/07/1994

Shareholder links

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

 

REGISTRY:

Computershare, Level 11, 172 St Georges Terrace, Perth WA 6000

Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000POS4
Address: Unit 8, Churchill Court, 331-335 Hay Street, SUBIACO, WA, AUSTRALIA, 6008
Tel:  08 9382 8799 Fax: 08 982 4760

Date first listed: 29/11/1993
Company Secretary: Brendan Shalders, Andrea Betti
Sector: Materials Industry Group: XMJ
Activities: Exploration for gold and other economic resources

The suspension of trading in the securities of Poseidon Nickel Limited will be lifted immediately, following the release by POS of an announcement regarding exploration results.

26/03/2020

New massive Ni sulphide lode named "Golden Swan" intersected as predicted by EM anomaly within the Black Swan mineralised channel. 19.5m (11.5m true width) of highly mineralised komatiite including 2m massive Ni sulphides in PBSD0029A from 739.5m down hole. Assays prioritised and pending. DHEM interpretations underway to assist further drilling.

26/03/2020

The securities of Poseidon Nickel Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of POS, pending the release of an announcement regarding exploration results..

25/03/2020

The suspension of trading in the securities of Poseidon Nickel Limited will be lifted immediately, following the release by POS of an announcement regarding a capital raising.

24/08/2018

The company issues an entitlement issue prospectus for a renounceable entitlement issue of 11 Shares for every 10 Shares held by those Shareholders registered at the Record Date at an issue price of $0.05 per Share to raise approximately $68,771,552 (based on the number of Shares on issue as at the date of this Prospectus). The Offer is fully underwritten by Petra Capital. The Underwriter has entered into a sub-underwriting agreement in respect of 100% of the Offer with Squadron Resources.

24/08/2018

A placement for approximately $5.8 million was successfully completed. An underwritten entitlement offer was launched to raise approximately $68.8 million. Funds raised will be used to restart the Silver Swan and Black Swan mines and bring the Black Swan processing plant back into production. First production is targeted within 12 months. Initial exploration drilling will also be commenced below the Black Swan open pit and at the Abi Rose prospect at the Lake Johnston Operation.

24/08/2018

The company has previously received a conditional and confidential proposal from Black Mountain Metals LLC. It intends to proceed with a material capital raising and advises that the proposal has been withdrawn. Black Mountain Metals has however requested and been granted diligence access by the Company and this process is now underway. Poseidon remains in discussion with Black Mountain Metals.

22/08/2018

The securities of Poseidon Nickel Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of POS, pending the release of an announcement regarding a capital raising.

22/08/2018

The suspension of trading in the securities of Poseidon Nickel Limited will be lifted from the commencement of trading on Thursday, 19 July 2018, following the release by the Company of an announcement regarding the Company's application to the Federal Court.

18/07/2018

The company was successful in its Federal Court proceedings for validation orders in relation to secondary trading in shares issued by the company pursuant to 40 securities issues made during the last 6 years. In its judgment delivered on 17 July 2018 the Federal Court made orders declaring that any offer for sale or sale of these shares during the period from the respective dates of issue until 5 April 2018, when the Company lodge a cleansing prospectus, was not invalid by reason of the failure to issue a cleansing notice or prospectus and any consequent failure by shareholders to provide disclosure in relation to the offers and sales of shares.

18/07/2018

Feasibility Study confirms the restart of the Silver Swan underground Black Swan open pit mine & processing plant at Black Swan is economic generating revenues of A$288.6m with pre-tax NPV10 of A$43.6m & IRR 92%.

18/07/2018

At the conclusion of the hearing held on 12 July 2018, the matter was adjourned to 17 July 2018 at 4.00pm (WST). At that hearing the Court is likely to deliver its reasons for decision and make final orders. The Company will confer with the Australian Securities and Investment Commission in relation to the final orders, in advance of that hearing. The Company expects that the final orders will enable reinstatement of the Company's shares to normal trading. The shares of the Company will remain suspended until after this hearing.

13/07/2018

The company issues a cleansing prospectus for an offer of up to 20,000 Shares at an issue price of $0.037 per Share to raise up to $740.

06/07/2018

Pursuant to Paragraph 9.2 of Guidance Note 27 of the ASX Listing Rules, amendments have been made to the Company's Trading Policy.

04/07/2018

The company has received an extension until 31 July 2018 to the Deed of Forbearance from Jefferies LLC.

19/06/2018

The adjournment has been extended until 12 July at 2.15pm (WST). The shares of the company will remain suspended until after this hearing. The Company is continuing to work with its legal advisers to resolve this matter as soon as possible.

14/06/2018

The hearing on 8 June 2018 was adjourned until 27 June 2018 at 10.15am (WST). The Federal Court adjourned the hearing as it requested further evidence from the Company. The Company is continuing to work with its legal advisers to resolve this matter as soon as possible.

12/06/2018

The Company requests a continuation of the voluntary suspension of its securities pending a final decision of the Federal Court of Australia. The voluntary suspension will continue until the 11 June 2018 pending the final decision of the Federal Court of Australia to grant declaratory relief and ancillary orders relating to prior trading in its shares and the Company's Securities being reinstated to trading on the ASX.

25/05/2018

The hearing of the company's Federal Court application for validating orders has been moved to a final hearing on 8 June 2018 at 2.15pm (WST). The Company has received an extension until 30th June 2018 to the Deed of Forbearance from Jefferies Bank.

17/05/2018

The company's Federal Court application for validating orders is currently listed for a first hearing on 13 June 2018 at 10.15am (WST). Whilst undertaking a review of prior share issues, the Company also identified that an offer of shares to an employee had not been made in accordance with Class Order 03/184. A validating order is being sought in relation to this issue of shares. The Company confirms that it has sought a further extension of its Deed of Forbearance from Jefferies Bank and will continue to comply with its obligations of continuous disclosure during this period of suspension.

14/05/2018

The company lodges its Quarterly Report to 31 March 2018.

27/04/2018

The company received the laboratory results from samples recovered from the reconnaissance stage of the Medusa Lithium Project drilling campaign at Lake Johnston. 20 Slim-line RC drill holes completed for 1,245m at the Medusa Project. Despite strong surface geochemical and mapping support, no encouraging lithium bearing pegmatites were encountered. All assay results were below 2000ppm Li (>0.5% Li2O) with limited support from typical LCT pegmatite associated elements. The lithium mineral-rich portions of the pegmatites are interpreted to have been weathered off which explains the strong residual lithium soil anomalies over the area.

13/04/2018

The Company requests a continuation of the voluntary suspension in its securities so that the Company can continue to file an application with the Federal Court of Australia. The Company expects the voluntary suspension will continue until the earlier of six (6) weeks from the date of this announcement, or the decision of the Federal Court of Australia to grant declaratory relief and ancillary orders relating to prior trading in its shares.

13/04/2018

The company issues a cleansing prospectus for an offer of up to 20,000 Shares at an issue price of $0.037 per Share to raise up to $740.

05/04/2018

A number of share issues made over the past few years were not accompanied by the issue of a cleansing notice or cleansing prospectus so as to permit immediate trading of these shares. The company is taking all necessary steps to rectify any breaches and will shortly lodge a cleansing prospectus to cleanse all such shares so that subsequent trading is not subject to secondary trading restrictions under the Act. Once the cleansing prospectus is lodged, the Company will file an application with the Federal Court of Australia seeking declaratory relief and ancillary orders relating to prior trading in these shares.

22/03/2018

The securities of Poseidon Nickel Limited will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement in relation to a cleansing prospectus and an application to the Federal Court of Australia seeking declaratory relief and ancillary orders relating to prior trading in shares.

22/03/2018

The suspension of trading in the securities of Poseidon Nickel Limited (the "Company") will be lifted immediately following the release of an announcement by the Company. Security Code: POS

24/02/2014

Poseidon Nickel says it is in negotiations which could lead to an ore tolling and concentrate purchase agreement. If finalised the agreement would allow Poseidon to deliver 350,000 - 700,000 tonnes of ore per annum for an initial period of up to 2 years. The ore would be mined from the existing Mt Windarra mine and shipped for treatment to a third party facility

12/02/2014

The securities of Poseidon Nickel Limited (the "Company") will be suspended from quotation immediately at the request of the Company, pending the release of an announcement. Security Code: POS

28/01/2014

name changed from Niagara Mining Limited

25/07/2007

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    20/09/2018David Singleton5,637,000$0.050$281,850

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Derek La FerlaNon Exec Chairman, Independent Director01/12/2019
    Peter HaroldManaging Director, CEO03/03/2020
    David RiekieCEO02/09/2019
    Michael RodriguezCOO18/03/2008
    Craig DavidsonCFO01/09/2017
    Brendan ShaldersCFO09/09/2019
    Peter MuccilliIndependent Director03/08/2020
    Dean HildebrandNon Exec Director01/07/2020
    Felicity GoodingDirector01/10/2018

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Geoffrey BrayshawIndependent Director01/02/200830/06/2020
    Karl PaganinNon Exec Director01/10/201830/06/2020
    Robert DennisManaging Director, CEO02/07/200730/08/2019
    Chris IndermaurNon Exec Chairman02/07/200701/10/2018
    David SingletonNon Exec Director01/02/200801/10/2018
    Gareth JonesCFO21/06/200701/09/2017
    Herbert ScruggsChairman30/09/201324/02/2014
    Richard MontiNon Exec Director04/04/200728/09/2013
    Andrew ForrestNon Exec Chairman02/07/200727/09/2013

    Date of first appointment, title may have changed.