Sedimentary Holdings NL

Sedimentary Holdings NL, formerly known as Sedimentary Uranium, is primarily a small gold mining and exploration company. It began exploring the Lake Frome region for uranium in the late 1960’s under the subsidies and incentives provided by the Labour government of the day (the same program helped the discovery of the Alligator Rivers region uranium deposits in Kakadu). They discovered the East Kalkaroo (Chatfield) and Yarramba deposits in 1970, and fellow explorers Mines Administration ("MINAD", a fully-owned subsidiary of sugar giant, CSR Ltd) in joint venture with Teton Exploration later found the adjacent Honeymoon uranium deposit. The Honeymoon deposit was to be developed as an ISL mine with a JV between MINAD, Teton and MIM Holdings, however, the Bannon Labour government in South Australia rewarded broad based community opposition and refused mineral leases for the project in March 1983 (including Beverley also; for a full history of Honeymoon and Beverley, see Mudd, 1998). Due to the small size of Sedimentary’s deposits and the depressed world uranium market in the late 1970’s to the early 1980’s, there was no attempted development of any ISL mine.

However, in 1997, junior Canadian uranium company, Southern Cross Resources Inc (SCR), reached an agreement with MIM (who by then fully owned the Honeymoon deposit) to purchase the Honeymoon deposit and trial plant, as well as Sedimentary’s adjacent deposits. The new project arrangement saw Sedimentary emerge with a 35% share holding in SCR, who would immediately begin development of the Honeymoon deposit (the share holding in SCR is now 22% due to finance and capital raising by SCR diluting Sedimentary's interests). Sedimentary still portray their undying faith in uranium mining and the nuclear industry, and if there was even a slim prospect of a sustained improvement in the global uranium market, you could safely bet they would be hedging more exploration effort that way.

In early 1999, the share price for Sedimentary spiked to over 20 cents due to a significant discovery of rich gold veins on their Queensland mining lease, proving the stock market has more faith in gold at the moment than uranium, which is saying something given the depressed state of the world gold market.

Directors :John R Harry (Chair), Robert B Devereux (Managing Director), Martin C Ackland, Michael P O'Neill.
Contacts :40 Dudley St, West Melbourne, VIC 3003
Ph (03) 9329 9884 - Fax (03) 9329 9886
Website :http://www.sedimentary.com.au/
Email :sediment@iaccess.com.au
Banking Services :Westpac Banking Corporation Ltd, 277 William St, Melbourne, VIC 3000
ASX Codes :Shares - SED (Home Exchange - Melbourne, VIC)
Annual Reports :Request by Email
ACN :000-697-183
Share Registry :National Registry Services Pty Ltd 600 Bourke St, Melbourne, VIC 3000
Uranium Prospects :
  • Honeymoon/Gould's Dam - through 22% shareholding in Canadian junior Southern Cross Resources Inc.

    • Some Shareholders (24-August-2000)

    Company or Entity
    Share (%)
    1
    		Lion Selection Group Ltd
    16.38
    2
    		Jarden Custodians Ltd
    5.26
    3
    		ANZ Nominees Ltd
    4.64
    4
    		Commonwealth Custodial Services Ltd
    4.38
    5
    		Jarden Custodians Ltd
    4.14
    6
    		AMP Nominees Pty Ltd
    3.51
    7
    		Alister John Forsyth
    2.72
    8
    		Jarden Custodians Ltd (No. 2 a/c)
    2.53
    9
    		Macquarie Bank Ltd
    2.49
    10
    		Holes Investment Pty Ltd
    2.32
    11
    		Antony C Doutlon
    2.11
    12
    		Margaret E Chatfield
    1.47
    13
    		Robert Devereux
    1.05
    14
    		Robert G S Callander
    0.84
    15
    		Neate & Associates Pty Ltd
    0.77
    16
    		FW (Nominees) Pty Ltd
    0.76
    17
    		Heanda Pty Ltd
    0.70
    18
    		Terranora Securities Pty Ltd
    0.70
    19
    		Nicola S Johnson
    0.70
    20
    		Kap Investments Pty Ltd
    0.61
    Total - 58.1% of Ordinary Shares
    No. of Ordinary Shareholders - 1,843

    Director's InterestsShare %
    John R Harry (through personal shares, and Holes Investments Pty Ltd)
    0.070
    Robert Devereux (through personal shares, and Holes Investments Pty Ltd)
    2.672
    Michael O'Neill (through personal shares and ??)
    1.078
    Martin C Ackland - Chief Executive Officer of Southern Cross Resources (also has experience at the Rum Jungle Rehabilitation Project)
    0.0077

    References Sedimentary Holdings NL Annual Report 1998 to 2000, and Mudd (1998).
    Last updated January 3, 2001.
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