Post Melbourne Cup Perth AGMs
June 14, 2024
This list tracks AGMs held in Perth after the Melbourne Cup in 2023.
APM Human Services International (APM): 10am Perth time hybrid on November 10 - see notice of meeting. See text of 6 questions lodged and video grabs. See AFR's AGM write-up after shares tanked.
Australian Strategic Minerals: Nov 22, 2023: physical meeting in Perth starting at 10am WST. See notice of meeting. Market cap is $234m.
BCI Minerals: Nov 22, 2023: a physical meeting in Perth starting at 3pm WST. See notice of meeting. Typical of a business controlled by Kerry Stokes.
Cash Converters (CCV): fully virtual AGM starting at 9.30am Perth time on November 23 - see notice of meeting. See text of 6 questions asked, which were dominated by CEO.
Capricorn Metals (CMM): November 29, 2023: the gold miner was capitalised at $1.7 billion in June 2024 but held a physical AGM at the Perth Convention Centre last year. See notice of meeting.
Chalice Mining: 9am Perth hybrid at Westin Hotel. See notice of meeting. See text of 8 questions asked. Was impressed by the chair and proxies were disclosed early. Biggest protest 9% against termination benefits. Requested access to webcast archive and they refused.
De Grey Mining: gold miner with a market cap of $2.3 billion yet still they insist on having a physical AGM in Perth which east coast shareholders can't attend. See notice of meeting for Nov 9 gathering in 2023.
Deep Yellow (DYL): physical EGM in Perth on April 30, 2024 in the board room of the Country Women's Association to approve capital raisings. See notice of meeting. Should be a hybrid given it had 16,000 holders and a market cap of $1.25b at the time.
Duratec: Perth-based company with a $300m market cap which held its fully virtual 2023 AGM on November 24. See notice of meeting.
Emerald Resources (EMR): runs a gold mine in Cambodia and made a net profit of $66m last year. AGM was a physical on Nov 29 in Perth in 2023. See notice of meeting. Just cracked ASX300.
Euroz Hartleys: biggest Perth focused broker with a market cap of $180m - last AGM was November 17, 2023 physical meeting in Perth. see notice of meeting. They have 2500 shareholders and barely any instos.
Fortescue: November 21, 2023: 10am physical AGM in Perth - see notice of meeting.
IGO Ltd (IGO): miner with a market cap of $6b - last year was a hybrid on November 16 in Perth - see notice of meeting.
Imdex (IMD): did a badly structured capital raising in early 2023 and now has a market cap above $1 billion and its 2022 AGM was a physical gathering with no webcast available. Already own. Meeting was Friday October 6, 2023.
Latin Resources (LRC): 11.30am Perth time on May 30 2024 for a physical meeting which is disappointing for a company capitalised at $630 million. See notice of meeting.
Liontown (LTR): November 30, 2023: Physical meeting, 2pm Perth time. See notice of meeting.
Lycopodium (LYL): miner with a market cap of almost $500m but still held a physical AGM in Perth on October 13, 2023 - see notice of meeting.
Mineral Resources: November 18, 12.30pm - see text of questions asked. Billionaire CEO Chris Ellison reminded me of former Oxiana boss Owen Hegarty in his hey day. A real evangelist prone to making overblown claims. Hence the importance of this full 26 page transcript which has been commendably produced. However, the transcript didn't include the text of the spruiking corporate videos. If you go to the end of this 1 hour and 45 minute webcast, you'll see the corporate video finishes with the following lines: "The future for Mineral Resources is unlimited, we are the gold at the end of the rainbow." Hmmm, should ASIC and the ASX be discouraging such boosterism?
Monadelphous: 10am Perth time hybrid on November 22 with physical component at UWA. See notice of meeting and text of 6 written questions lodged, not all of which were asked, plus a detailed post-AGM email from the company. See webcast of 69 minute meeting.
Northern Star: 2pm Perth hybrid on November 16. See text of 11 written questions and notice of meeting. Meeting lasted 57 minutes with just one question from the floor in Perth. Watch the full video webcast archive.
Mt Gibson Iron (MGX): hybrid at 10.30am Perth time on November 15 - see notice of meeting. Market cap $607m. See text of 7 questions lodged and video grabs. Watch the 71 minute webcast.
Pantoro Ltd (PNR): May 29, 2024 1pm physical EGM meeting in Perth at the CWA to approve a pay rise for the directors and an incentive grant for the CEO. See notice of meeting. Market cap $463m in early May 2024.
Peet Ltd (PPC): market cap $550m but still ran a physical AGM on October 25 in Perth last year - see notice of meeting.
Perseus Mining: November 21, 2023: $2.27b market cap and still doing a physical only meeting in Perth at 4pm their time. See notice of meeting. Raised $3.5m in a 2004 float at 20c. Has prospered with gold projects in unfashionable Sudan, Ivory Coast and Ghana. Largest shareholders are index player Van Eck and T Rowe Price.
PYC Therapeutics (PYC): announced a non-under-written 1-for-4 at 8c to raise a maximum of $74.6m. Chair Alan Tribe will take up his full $24.6m entitlement but there are no overs for retail shareholders. However, under S615 of the Corps Act, the directors have given Euroz Hartley 3 months to place any shortfall at no less than the 8c offer price and any premium achieved will be returned to the non-participants. There are around 3,200 retail shareholders. Went into the raising with 3.7 billion shares. Time for a 10-for-1 consolidation, perhaps? Market cap $317m based on 8c going into the raising. Claims to only have net equity of $30m in Feb 2024 accounts after accumulating losses of $133.2m. The market is clearly valuing the potential of its drug developments. 2023 AGM was November 24 in Perth - see notice of meeting.
Ramelius Resources: 11am Perth time hybrid on November 24 for the gold miner capitalised at around $650m. See text of 3 lengthy questions submitted, two of which were asked, including a good chair answer on director recruitment. Watch 59 minute webcast archive. There were hostile auditor questions 40 minutes into this webcast. Watch part of it via Twitter.
Red 5 Mining (RED) The Perth-based gold miner did a shocking $125 million placement at 18c in 2020 with no SPP for retail shareholders. This comprised 55.8% of pre-raising capital and therefore needed shareholder approval. Was priced at a 23.4% discount to the last price and the stock was at 21c in mid May so the existing 4800 retail shareholders were badly diluted without compensation. The stock has been a wild ride since ranging between 15c and 44c but finished 2022 at around 21c giving it a market cap of $600 million. There was a big protest vote against director Kevin Dundo last year at a physical only AGM at the Celtic Club in Perth. No webcast archive provided here for 12,000 shareholders to access. Smorgon family are biggest holders with around 15%. Can't find an email contact anywhere.
Regis Resources: 10am hybrid in Perth on November 24. See notice of meeting and see text of 7 questions asked. Refused to provide a webcast archive here.
Sandfire Resources: November 26, 2pm - see text of 9 questions asked. No webcast archive provided.
South32: 3pm hybrid, October 27 with physical component in Perth. Lodged 3 written questions, 2 of which were asked at the 51 minute mark and the last on climate vote at the 98 minute mark. Biggest protest was 10.5% against advisory vote on climate action plan. Watch Youtube webcast of 106 minute meeting.
Spartan Resources (SPR): the Perth-based gold miner and explorer (known as Gascoyne Resources until 2023) launched an $80 million raising in April 2024, comprising a $47 million placement and a 1-for-17 non-renounceable to raise $33 million. The company was capitalised at $650m in April 2024 so very disappointed that it ran a physical AGM at the Celtic Club in Perth on November 23, 2023.
St Barbara Mines: 2pm Perth time, October 26: See notice of meeting and text of 6 questions asked. Meeting lasted 63 minutes and no material protest votes.
The Market Herald (TMH): the owner of HotCopper had a market cap of $101m by the end of 2022 and was becoming a more interesting company. See Rear Window wrap of the conflict. The 2022 AGM was a November 28 effort held virtually via zoom.
Wesfarmers: 4pm hybrid, October 27 with physical component in Perth. Lodged these 3 questions. Watch webcast of 1 hour and 50 minute meeting. No material protest votes.
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