OAR
Oar Resources Limited
ASX
Investor Presentation
Sentiment:
Investor Presentation
28 October 2024 5:53 PM
Oar Resources' October 2024 investor presentation highlights its expanding uranium and rare earth element portfolio in Brazil and Namibia, emphasizing strategic partnerships and exploration plans.
Capital raise
The company has limited cash on hand and may need to raise additional capital to fund its exploration activities.
Summary
- Oar Resources is developing a portfolio of uranium and rare earth element (REE) projects in Brazil and Namibia.
- The company has a market capitalization of $6.6 million and $0.87 million in cash and available funding as of September 30, 2024.
- In Brazil, Oar has expanded its landholdings to 880km2 and signed a Memorandum of Understanding (MoU) with Indústrias Nucleares do Brasil (INB), the state-owned nuclear materials company.
- Exploration activities in Brazil include surface scintillometer surveys, soil sampling, and airborne radiometric surveys, with plans for drilling in 2025.
- In Namibia, Oar holds two uranium projects, Gemsbok and Oryx, neighboring major uranium deposits.
- Exploration plans in Namibia include environmental impact assessments (EIAs) and further exploration activities.
- The company's exploration program is phased across uranium and REEs, based on early exploration success and analysis of historic drilling.
Sentiment
Score: 6
Explanation: The presentation expresses optimism about the company's prospects, but also acknowledges the risks associated with exploration and the need for further funding.
Positives
- Expanding uranium and REE portfolio in favorable jurisdictions.
- Strategic partnership with INB in Brazil.
- Encouraging exploration results in Brazil, with high uranium values detected.
- Projects located near existing mines and infrastructure in both Brazil and Namibia.
- Experienced management team with a track record of success.
Negatives
- Relatively small market capitalization.
- Limited cash on hand.
- Exploration is still in early stages, with significant risks involved.
- Dependence on exploration success for future growth.
Risks
- Exploration risk: The success of the company depends heavily on the success of its exploration activities.
- Funding risk: The company has limited cash on hand and may need to raise additional capital.
- Regulatory risk: Changes in mining regulations in Brazil and Namibia could impact operations.
- Market risk: Fluctuations in uranium and REE prices could affect profitability.
- Geopolitical risk: Political instability in Brazil or Namibia could disrupt operations.
Future Outlook
Oar Resources plans to continue its phased exploration program across its uranium and REE projects in Brazil and Namibia, with drilling planned for 2025. The company's success hinges on the results of this exploration and securing necessary funding.
Management Comments
- The MoU provides OAR with the opportunity to work with INB to advance its exploration activities and provide investors with exposure to the recently reinvigorated Brazilian uranium potential.
- A transformative and historic milestone for OAR, with the opportunity to be a first-mover in the hunt for uranium within Brazil.
Industry Context
The presentation highlights the growing global demand for uranium driven by the resurgence of nuclear energy, particularly for data centers and the expansion of small modular reactors (SMRs). Oar Resources positions itself to capitalize on this trend through exploration and development in established uranium-producing regions.
Next Steps
- Soil sampling, geophysics, and mapping in Brazil and Namibia.
- Drilling in Brazil and Namibia in 2025.
- Auger drilling in Tunas REE Project (Q2 2025).
- Reconnaissance mapping and surface sampling in various projects.
Key Dates
- April 3, 2024: Oar expands into world-class uranium mining region
- May 29, 2024: Oar expands Brazilian uranium footprint
- August 7, 2024: OAR signs MoU with INB
- September 2, 2024: Oar confirms uranium mineralization at Amorinopolis (amended)
- October 17, 2024: Short term funding of $0.75m announced
- October 2024: Investor presentation released
Keywords
Uranium, Rare Earth Elements, Brazil, Namibia, Exploration, Mining, Critical Minerals, Oar Resources
OAR
Oar Resources Limited
ASX
Sector: Materials
Filings with Classifications
Delay expected
28 November 2024 11:46 PM
Shareholder Update
- Trading of the company's securities will be on a deferred settlement basis from December 3, 2024 to December 11, 2024, delaying the full implementation of the name and ticker change.
Capital raise
28 November 2024 11:35 PM
Annual General Meeting Results
- Resolution 15 approved the issuance of future capital raising shares.
Capital raise
29 October 2024 10:00 PM
Annual General Meeting Notice
- The company is seeking shareholder approval to issue up to 500,000,000 shares (pre-consolidation) in a future capital raising.
- The issue price will be no less than 80% of the 5-day VWAP at the time of issue.
- The funds raised are intended for debt repayment, working capital, project development, acquisition costs, and potential new acquisitions.
Capital raise
28 October 2024 5:53 PM
Investor Presentation
- The company has limited cash on hand and may need to raise additional capital to fund its exploration activities.
Delay expected
8 August 2024 4:47 AM
Options Prospectus
- The company experienced delays in issuing the CN Options and Broker Options, which led to an extension of the expiry date to June 30, 2027.
Capital raise
31 July 2024 2:06 AM
Quarterly Report
- OAR successfully raised $1 million through a share placement.
- The company may need to raise additional capital in the future to fund its exploration activities.
Capital raise
31 July 2024 12:16 AM
Results of General Meeting
- Resolution 8 indicates approval to issue shares under Listing Rule 7.1, suggesting a potential future capital raise.
Capital raise
27 June 2024 11:21 PM
Notice of General Meeting
- Resolution 1 seeks Shareholder ratification pursuant to Listing Rule 7.4 for the issue of the Capital Raising Securities.
- The Company is proposing to issue up to 500,000,000 Shares at an issue price of no less than 80% of the 5-day VWAP at the time of issue per Share (Future Issue Shares) to professional and sophisticated investors who are unrelated parties of the Company (Future Capital Raising).
Capital raise
30 April 2024 2:44 AM
Quarterly Report
- The company successfully raised AUD $1 million through a share placement.
- The funds will be used to support environmental studies for uranium EPLs in Namibia and to grow the company's global portfolio.
- The company may need to raise additional capital in the future to fund its operations, given its low cash reserves.
Capital raise
2 April 2024 7:18 PM
Trading Halt Request
- Oar Resources is undertaking a capital raising managed by CPS Capital Group Pty Ltd.
- The details of the capital raising will be announced after the trading halt is lifted.
Capital raise
2 April 2024 6:55 PM
Exploration Update
- OAR will issue 100,000,000 fully paid ordinary shares (Tranche 1 and Tranche 2 Deferred Consideration Shares) to the Vendors (50,000,000 OAR ordinary shares per EPL) subject to confirmation in writing that EPL 9652 and EPL 9725 have both been granted.
- On the 12-month anniversary of EPL 9652 or EPL 9725 being granted, OAR will issue an aggregate of 100,000,000 fully paid OAR ordinary shares (Tranche 3 and Tranche 4 Deferred Consideration Shares) to the Vendors (50,000,000 OAR ordinary shares per EPL).
- Within four (4) years of EPL 9652 or EPL 9725 being granted, should OAR announce a JORC compliant uranium resource of 50M pounds at 100ppm or greater on each EPL, OAR will issue the Vendors 50,000,000 OAR ordinary shares for each EPL (Tranche 5 and Tranche 6 Deferred Consideration Shares).
Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.