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MONTEM RESOURCES LIMITED. (ASX.MR1)

Now called: EVOLVE POWER LIMITED

ASX Announcements (courtesy of ASX)

2020202120222023

ASX, Legal & CGT Status

SHARE PRICES

(updated at weekends)
Former (or subsequent) names

 

Shareholder links
Our website ranking of MR1: rating 4
(4 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Automic Group
Level 5, 191 ST GEORGES TERRACE PERTH WA 6000
Tel : +61 (2) 8072 1400 or 1300 288 664 (within Australia)
RegistryWebsite RegistryEmail

Company details
Address: Level 4, 100 Albert Road South Melbourne, Victoria 3205
Tel:  (03) 9692 7222

Date first listed: 15/09/2020

Activities: Coal exploration and production

Shareholders in this company should consider crystallising a capital loss in 2023/24 by selling their shares. This process is now much easier and quicker. It can be achieved 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.

16/10/2023

delisted at entity's request under Listing Rule 17.11

26/04/2023

we understand Montem signed a binding agreement to sell 50% of the TM-Rex to TransAlta and jointly form a partnership to manage the project - the company was advised by ASX that it would need to delist in order to proceed with the transaction because it would no longer satisfy listing conditions

26/04/2023

The company releases a notice of application for quotation of securities.

17/04/2023

The company releases the Results of its General Meeting - TM-REX and Delisting Approvals.

12/04/2023

The company releases a GM Presentation.

12/04/2023

The company will hold an extraordinary general meeting on 12 April 2023 at 11:00AM (AEDT) at Chartered Accountants ANZ, 33 Erskine Street, Sydney, NSW 2000 and via Zoom Webinar. For registration to attend virtually via the Zoom Webinar, please follow: https://us06web.zoom.us/webinar/register/WN_RyroFeqWRFK211szB0WjIA.

09/03/2023

Montem has submitted a formal request to the ASX to be removed from the official list of the ASX pursuant to ASX Listing Rule 17.11. Montem's request to voluntarily delist from the Official List is subject to the satisfaction by Montem of a number of conditions imposed by the ASX. Montem's decision to pursue the Delisting is primarily a result of Montem's decision to progress with the sale of 50% of the TM-REX Project to TransAlta Corporation as announced on 22 February 2023. The Delisting would mean Montem's shares will no longer be quoted on the ASX. In order to proceed with the Delisting shareholder approval by way of special resolution must be obtained at a general meeting which is to be held on 12 April 2023. If approved by shareholders, the Delisting will only proceed if shareholder approval is also given at the General Meeting for the Proposed Transaction.

09/03/2023

Montem signs a binding agreement to sell 50% of the Tent Mountain Renewable Energy Complex to TransAlta Corporation. TransAlta is a Canadian-based owner operator and developer of clean electricity with annual revenue of ~C$3 billion. TransAlta will pay up to A$26.7 million (C$24.7 million) for 50% of the TM-REX: with A$8.3 million (C$7.7 million) due on execution of definitive agreements; and further payments up to A$18.4 million (C$17.0 million) when project milestones are achieved. Montem and TransAlta will form a partnership and jointly manage the project, with TransAlta acting as the Project Developer. Proceeds from the sale are expected to provide the immediate capital required for Montem to advance the development of the Tent Mountain Pumped Hydro Energy Storage with TransAlta. Montem will seek shareholder approval to complete the transaction. On Friday 17 February the ASX provided its response to Montem's in-principle application for a recompliance listing, advising there is a significant likelihood the Company will not satisfy Listing Rule 1.1 condition 1, or that ASX would otherwise exercise its discretion under Listing Rule 1.19 to refuse the Company's application for re-admission to the official list, if the Company pursues the transaction and seeks to re-comply with Chapters 1 and 2 of the Listing Rules.

22/02/2023

The company lodges its Quarterly Activities and Cash Flow Report.

31/01/2023

The company releases a notification of cessation of securities.

13/01/2023

The company releases a notice of application for quotation of securities.

12/01/2023

The company releases a notification of cessation of securities.

05/01/2023

The company releases a notice of application for quotation of securities.

04/11/2022

The company releases the results of its general meeting.

02/11/2022

The company releases its GM Presentation.

02/11/2022

The company lodges its Quarterly Activities and Cashflow Report.

27/10/2022

The company releases a notice of application for quotation of securities.

21/10/2022

The company advises the results of the pro-rata non-renounceable entitlement offer, which closed on 18 October 2022. The company received applications for 3,637,992 new fully paid ordinary shares amounting to total subscriptions of $145,519.68. The company and Petra Capital will work together on a best endeavors to place any shortfall of the entitlement offer in the three month period after the close of the entitlement offer.

20/10/2022

The company releases a supplementary prospectus.

07/10/2022

The company's general meeting will be held on Wednesday, 2 November 2022 at 11:00AM (AEDT) at Level 4, 100 Albert Road, South Melbourne VIC 3205 and via Zoom Webinar.

30/09/2022

The company releases a notice of proposed issue of securities,

29/09/2022

The company releases a prospectus for a pro rata non-renounceable entitlement offer of 1 New Share for every 12.62 Existing Shares held by Eligible Shareholders at the Offer Price of $0.04·per New Share to raise up to $1.0 million. The Entitlement Offer is not underwritten. This Prospectus also includes an offer of any New Shares not taken up by Eligible Shareholders. Investors interested in participating in the Shortfall Offer should refer to Section 2.7 for further information.

29/09/2022

The company releases a notification of cessation of securities.

28/09/2022

Restricted securities were today released from ASX imposed escrow as follows: 35,185,567 Fully Paid Ordinary Shares, 3,217,897 Options, 5,067,898 Performance Rights.

15/09/2022

The company lodges its Half Year Report.

13/09/2022

Restricted securities will be released from ASX imposed escrow in accordance with ASX Listing Rule 3.10A as follows: 35,185,567 Fully Paid Ordinary Shares on 15 September 2022, 3,217,897 Options and 5,067,898 Performance Rights.

07/09/2022

The company releases a notice of application for quotation of securities.

29/08/2022

The company releases a cleansing prospectus for an offer of up to 250 Shares at an issue price of $0.04 per Share to raise up to $10 (before expenses).

25/08/2022

The company releases a notice of proposed issue of securities.

24/08/2022

ï‚· Placement of approximately $1 million at an issue price of $0.04 per share from institutional and sophisticated investors. Montem's Chairman, Managing Director and TM-Renewable Energy Complex Steering Committee members are participating in the Placement. Montem intends to make a non-renounceable entitlement offer to all shareholders at $0.04 per share, to raise up to $1 million. Montem has commenced a process to sell up to 50% of the TM-REX Pumped Hydro Energy Storage project within the next 6 months. Proceeds raised will primarily be applied to fund the costs associated with: the sale process for the PHES project of the TM-REX, and to seek in principle approval from ASX for re-listing as well as working capital.

24/08/2022

ASX has confirmed that MR1's reinstatement to trading on ASX will be conditional upon the Company re-complying with Chapters 1 and 2 of the ASX Listing Rules. MR1 intends to seek customary in principle approval from ASX that it is eligible for the re-compliance listing and if successful, intends to prepare and lodge a re-compliance prospectus to have its shares restated to trading. There is a risk that MR1 may not meet all of the eligibility criteria set by ASX for a re-compliance listing under Chapters 1 and 2 of the Listing Rules.

22/08/2022

The voluntary suspension will remain in place until the earlier of the commencement of normal trading on Monday, 29 August 2022, or when an announcement regarding the TM-REX project is released to the market subject to regulatory requirements associated with the TM-REX project.

16/08/2022

The voluntary suspension will remain in place until the earlier of the commencement of normal trading on Monday, 15 August 2022, or when an announcement regarding the TM-REX project is released to the market subject to regulatory requirements associated with the TM-REX project.

05/08/2022

The company lodges its Quarterly Activities and Cashflow Report.

29/07/2022

The company releases its TM-REX Pre-Feasibility Presentation.

26/07/2022

Pre-Feasibility Studies for the Pumped Hydro Energy Storage and Green Hydrogen Electrolyser elements of the Tent Mountain Renewable Energy Complex have been completed by Hatch and GHD, confirming the TM-REX as an outstanding renewable energy project with compelling economics. Montem has entered into a framework agreement with the Piikani Nation. The PFS details the Tent Mountain PHES development concept for an 80+ year project life with a 320 MW installed capacity, 2,560 MWh storage capacity allowing for 8 hours of continuous generation. PFS determined that based on the current data, there are no geotechnical fatal flaws in developing the TM-PHES. PFS recommends optimization work be completed to investigate increasing the size of the TM-PHES upper reservoir, with potentially low capital cost, which has the potential to almost double the energy storage capacity to 4,955 MWh, providing continuous generation for 15 hours. Nearby interconnection options for both the 500 kV and 240 kV transmission line have been identified to connect the TM-PHES to the Alberta power grid, and the relevant applications for connection are lodged. Results of the PFS returned compelling capital cost estimates for the TM-PHES that support attractive base case economics, with material upside for project economics in an evaluated "Net Zero Electricity" market scenario. The PFS for the Green Hydrogen Electrolyser identified the optimum business case which includes the co-location of the electrolyser facility "behind the meter" with a renewable energy source (offsite wind farm).

26/07/2022

The securities of Montem Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MR1, pending the release of an announcement regarding the results of a pre-feasibility study.

25/07/2022

listed entity carried for record purposes only

15/09/2020
View ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    07/03/2022Rob Tindall1,020,000$0.044$44,980
    15/12/2020Rob Tindall500,000$0.225$112,500

    Click here for the last 20 transactions all companies

    Directors & Executives (current)
    NAMETITLEDATE OF APPT
    Mark LochtenbergChairman, Independent Director15/09/2020
    Peter DoyleManaging Director, CEO15/09/2020
    Melanie LeydinCFO, Company Secretary30/11/2020
    Will SouterIndependent Director15/09/2020
    Susie HendersonIndependent Director15/09/2020
    Rob TindallNon Exec Director15/09/2020

    Date of first appointment, title may have changed.

    SPECIAL NOTE: During May 2024 we are working to remove duplications in the Company Secretary role.

    Directors & Executives (former)
    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Alan AhlgrenCFO30/11/2020

    Date of first appointment, title may have changed.