{"collection_queue":{},"coverage":{"basis":"declared","collection_issues":[],"coverage_start":"2023-01-01","explained_count":10,"material_issue_count":0,"minor_discrepancy_count":0,"newer_pending_count":0,"note":"All BMC substantial-holder notices in the stock-specific queue through the cutoff were reviewed, including initial Victor Smorgon and Tembo positions, the Orion block sales, the BMC UK July 2026 sell-down, and the Victor Smorgon January transfer and four purchase rows. The Annual Report register confirms Tembo and associates at 15,250,000 shares as of 31 August 2026; no intervening Tembo transaction is inferred. 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It does not establish that each group member is a separate beneficial owner."],"relationships":[{"entity_id":"como_vsm_global_multi_strategy","relationship":"included in the group\u2019s reported relevant interests","source_ids":["2924-03139920-6A1345703"]},{"entity_id":"como_vsm_resources_scarcity","relationship":"included in the group\u2019s reported relevant interests","source_ids":["2924-03139920-6A1345703"]},{"entity_id":"vbs_exchange","relationship":"included in the group\u2019s reported relevant interests","source_ids":["2924-03139920-6A1345703"]},{"entity_id":"evolution_vsm_global_equities","relationship":"included in the group\u2019s reported relevant interests","source_ids":["2924-03139920-6A1345703"]},{"entity_id":"como_vsm_resources_gold","relationship":"included in the group\u2019s reported relevant interests","source_ids":["2924-03139920-6A1345703"]}],"roles":[{"role":"substantial-holder reporting group","source_ids":["2924-03139920-6A1345703"]}]},"wammes_pty_ltd":{"entity_id":"wammes_pty_ltd","investor_id":null,"kind":"company","management_id":null,"name":"WAMMES Pty Ltd","notes":[],"relationships":[],"roles":[{"role":"controlled registered holder in Scott Donaldson's indirect interest notice","source_ids":["2924-03037109-6A1303287"]}]}},"errors":[],"events":[{"account_entity_id":"evolution_vsm_global_equities","cash_amount":null,"consideration_basis":"not_disclosed","consideration_details":"No cash amount or currency disclosed.","contract_details":"","currency":null,"date":"2026-06-01","date_end":"2026-09-30","economic_event_id":"BMC-VSG-2026-06-01_TO_2026-09-30-04-PURCHASE","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-2026-06-01_TO_2026-09-30-04-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Form 604 Annexure A names Evolution Trustees Ltd ATF Victor Smorgon Partners Global Equities Fund as the holder of relevant interest. The group reports aggregate power; exact registered-account routing and consideration are not fully allocated to this purchase row. The disclosed month range is preserved as 2026-06-01 to 2026-09-30; exact days are not given.","original_wording":"Various dates between June 2026 and Sept 2026; on-market purchases; Ordinary shares; +360,117","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":360117,"quantity_acquired":360117,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, on-market purchase row for Evolution Trustees Ltd ATF Victor Smorgon Partners Global Equities Fund","page":3,"source_id":"2924-03139920-6A1345703"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":"vbs_exchange","cash_amount":null,"consideration_basis":"not_disclosed","consideration_details":"No cash amount or currency disclosed.","contract_details":"","currency":null,"date":"2026-06-01","date_end":"2026-09-30","economic_event_id":"BMC-VSG-2026-06-01_TO_2026-09-30-03-PURCHASE","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-2026-06-01_TO_2026-09-30-03-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Form 604 Annexure A names VBS Exchange Pty Ltd as the holder of relevant interest. The group reports aggregate power; exact registered-account routing and consideration are not fully allocated to this purchase row. The disclosed month range is preserved as 2026-06-01 to 2026-09-30; exact days are not given.","original_wording":"Various dates between June 2026 and Sept 2026; on-market purchases; Ordinary shares; +374,673","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":374673,"quantity_acquired":374673,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, on-market purchase row for VBS Exchange Pty Ltd","page":3,"source_id":"2924-03139920-6A1345703"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":"como_vsm_resources_scarcity","cash_amount":null,"consideration_basis":"not_disclosed","consideration_details":"No cash amount or currency disclosed.","contract_details":"","currency":null,"date":"2026-06-01","date_end":"2026-09-30","economic_event_id":"BMC-VSG-2026-06-01_TO_2026-09-30-02-PURCHASE","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-2026-06-01_TO_2026-09-30-02-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Form 604 Annexure A names Como Services Pty Ltd ATF Victor Smorgon Partners Resources Scarcity Fund as the holder of relevant interest. The group reports aggregate power; exact registered-account routing and consideration are not fully allocated to this purchase row. The disclosed month range is preserved as 2026-06-01 to 2026-09-30; exact days are not given.","original_wording":"Various dates between June 2026 and Sept 2026; on-market purchases; Ordinary shares; +195,507","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":195507,"quantity_acquired":195507,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, on-market purchase row for Como Services Pty Ltd ATF Victor Smorgon Partners Resources Scarcity Fund","page":3,"source_id":"2924-03139920-6A1345703"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":"como_vsm_global_multi_strategy","cash_amount":null,"consideration_basis":"not_disclosed","consideration_details":"No cash amount or currency disclosed.","contract_details":"","currency":null,"date":"2026-06-01","date_end":"2026-09-30","economic_event_id":"BMC-VSG-2026-06-01_TO_2026-09-30-01-PURCHASE","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-2026-06-01_TO_2026-09-30-01-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Form 604 Annexure A names Como Services Pty Ltd ATF Victor Smorgon Partners Global Multi-Strategy Fund as the holder of relevant interest. The group reports aggregate power; exact registered-account routing and consideration are not fully allocated to this purchase row. The disclosed month range is preserved as 2026-06-01 to 2026-09-30; exact days are not given.","original_wording":"Various dates between June 2026 and Sept 2026; on-market purchases; Ordinary shares; +1,850,883","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":1850883,"quantity_acquired":1850883,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, on-market purchase row for Como Services Pty Ltd ATF Victor Smorgon Partners Global Multi-Strategy Fund","page":3,"source_id":"2924-03139920-6A1345703"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":"como_vsm_resources_gold","cash_amount":null,"consideration_basis":"not_disclosed","consideration_details":"No cash amount or currency disclosed.","contract_details":"","currency":null,"date":"2026-09-23","date_end":null,"economic_event_id":"BMC-VSG-20260923-05-PURCHASE","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-20260923-05-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Form 604 Annexure A names Como Services Pty Ltd ATF Victor Smorgon Partners Resources Gold Fund as the holder of relevant interest. The group reports aggregate power; exact registered-account routing and consideration are not fully allocated to this purchase row.","original_wording":"23/09/2026; on-market purchases; Ordinary shares; +500,000","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":500000,"quantity_acquired":500000,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, on-market purchase row for Como Services Pty Ltd ATF Victor Smorgon Partners Resources Gold Fund","page":3,"source_id":"2924-03139920-6A1345703"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":null,"consideration_basis":"cash","consideration_details":"Form 604 states $5,900,434.58; currency not specified.","contract_details":"","currency":null,"date":"2026-09-23","date_end":null,"economic_event_id":"BMC-L1-20260923-03-PURCHASE","entity_id":"l1_capital","event_id":"BMC-L1-20260923-03-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Consideration amount is reported with \"$\"; the filing does not name a currency. No currency or unit price is inferred.","original_wording":"On-Market Purchase; consideration $5,900,434.58; 2,000,150 FPO shares","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":2000150,"quantity_acquired":2000150,"quantity_disposed":0,"reconciliation_note":"","security_class":"FPO","source_refs":[{"locator":"Annexure A, corresponding dated L1 Capital on-market purchase row","page":3,"source_id":"2924-03140139-6A1345805"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":null,"consideration_basis":"cash","consideration_details":"Form 604 states $2,175,000.00; currency not specified.","contract_details":"","currency":null,"date":"2026-09-21","date_end":null,"economic_event_id":"BMC-L1-20260921-02-PURCHASE","entity_id":"l1_capital","event_id":"BMC-L1-20260921-02-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Consideration amount is reported with \"$\"; the filing does not name a currency. No currency or unit price is inferred.","original_wording":"On-Market Purchase; consideration $2,175,000.00; 750,000 FPO shares","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":750000,"quantity_acquired":750000,"quantity_disposed":0,"reconciliation_note":"","security_class":"FPO","source_refs":[{"locator":"Annexure A, corresponding dated L1 Capital on-market purchase row","page":3,"source_id":"2924-03140139-6A1345805"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":null,"consideration_basis":"cash","consideration_details":"Form 604 states $8,480.70; currency not specified.","contract_details":"","currency":null,"date":"2026-09-15","date_end":null,"economic_event_id":"BMC-L1-20260915-01-PURCHASE","entity_id":"l1_capital","event_id":"BMC-L1-20260915-01-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Consideration amount is reported with \"$\"; the filing does not name a currency. No currency or unit price is inferred.","original_wording":"On-Market Purchase; consideration $8,480.70; 3,272 FPO shares","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":3272,"quantity_acquired":3272,"quantity_disposed":0,"reconciliation_note":"","security_class":"FPO","source_refs":[{"locator":"Annexure A, corresponding dated L1 Capital on-market purchase row","page":3,"source_id":"2924-03140139-6A1345805"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":1487700.06,"consideration_basis":"cash","consideration_details":"Transaction-specific on-market cash consideration disclosed in the substantial-holder notice.","contract_details":"","currency":"AUD","date":"2026-08-21","date_end":null,"economic_event_id":"BMC-L1-20260821-08-PURCHASE","entity_id":"l1_capital","event_id":"BMC-L1-20260821-08-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"control","notes":"The disclosure reports the transaction at L1 Capital level but does not allocate it among the registered-holder accounts.","original_wording":"On-market purchase of 551,029 FPO shares for A$1,487,700.06.","percentage":null,"percentage_basis":null,"price":2.69985801,"price_basis":"calculated_average","quantity":551029,"quantity_acquired":551029,"quantity_disposed":0,"reconciliation_note":"","security_class":"Fully paid ordinary shares (FPO)","source_refs":[{"locator":"Annexure A, Changes in relevant interests, 21 August 2026 row","page":3,"source_id":"2924-03125105-6A1339937"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":19860918.29,"consideration_basis":"cash","consideration_details":"Transaction-specific on-market cash consideration disclosed in the substantial-holder notice.","contract_details":"","currency":"AUD","date":"2026-08-20","date_end":null,"economic_event_id":"BMC-L1-20260820-07-PURCHASE","entity_id":"l1_capital","event_id":"BMC-L1-20260820-07-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"control","notes":"The disclosure reports the transaction at L1 Capital level but does not allocate it among the registered-holder accounts.","original_wording":"On-market purchase of 7,383,241 FPO shares for A$19,860,918.29.","percentage":null,"percentage_basis":null,"price":2.69,"price_basis":"calculated_average","quantity":7383241,"quantity_acquired":7383241,"quantity_disposed":0,"reconciliation_note":"","security_class":"Fully paid ordinary shares (FPO)","source_refs":[{"locator":"Annexure A, Changes in relevant interests, 20 August 2026 row","page":3,"source_id":"2924-03125105-6A1339937"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":84174202.8,"consideration_basis":"cash","consideration_details":"A$2.85 per CDI; cash amount calculated as 29,534,808 x A$2.85.","contract_details":"Underwritten block trade; completed 2 July 2026.","currency":"AUD","date":"2026-07-02","date_end":null,"economic_event_id":"BMC-BMCUK-20260702-SALE","entity_id":"bmc_uk_no_1","event_id":"BMC-BMCUK-20260702-SALE","event_type":"sale","exercise_price":null,"expiry_date":null,"holding_after":148110088,"holding_before":177644896,"interest_type":"direct","notes":"The sale is by BMC (UK) No.1 Limited. The two director notices describe overlapping indirect interests in this same BMC UK sale; their director-view rows share this economic event ID and do not represent additional blocks.","original_wording":"BMC UK entered into an underwritten block trade agreement to sell 29,534,808 CDIs at A$2.85 per CDI. The trade completed on 2 July 2026. The director notices describe the sale as by way of special crossings on ASX.","percentage":53.93,"percentage_basis":"voting_power","price":2.85,"price_basis":"disclosed","quantity":29534808,"quantity_acquired":0,"quantity_disposed":29534808,"reconciliation_note":"177,644,896 less the disclosed 29,534,808-CDI sale equals the reported 148,110,088-CDI remaining position.","reconciliation_status":"explained","security_class":"CHESS Depositary Interests (CDIs)","source_refs":[{"locator":"Date of change and note 2, BMC UK block trade","page":1,"source_id":"2924-03107175-6A1332253"},{"locator":"Scott Donaldson Appendix 3Y, nature of change: sale by special crossings on ASX","page":3,"source_id":"2924-03105386-6A1331559"},{"locator":"David Ellis Appendix 3Y, same BMC UK sale by special crossings on ASX","page":6,"source_id":"2924-03105386-6A1331559"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":"evolution_vsm_global_equities","cash_amount":null,"consideration_basis":"not_disclosed","consideration_details":"No cash consideration, price or currency disclosed.","contract_details":"","currency":null,"date":"2025-12-01","date_end":"2026-06-30","economic_event_id":"BMC-VSG-20251201_TO_20260630-04-PURCHASE","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-20251201_TO_20260630-04-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"The form gives only the month range December 2025 to June 2026; date bounds are month boundaries and do not claim daily precision.","original_wording":"Various dates between Dec 2025 and June 2026; acquisition of 523,784 ordinary shares by Evolution Trustees Ltd ATF Victor Smorgon Partners Global Equities Fund; on-market purchases.","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":523784,"quantity_acquired":523784,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, Global Equities Fund on-market purchase row","page":3,"source_id":"2924-03107014-6A1332210"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":"vbs_exchange","cash_amount":null,"consideration_basis":"not_disclosed","consideration_details":"No cash consideration, price or currency disclosed.","contract_details":"","currency":null,"date":"2025-12-01","date_end":"2026-06-30","economic_event_id":"BMC-VSG-20251201_TO_20260630-03-PURCHASE","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-20251201_TO_20260630-03-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"The form gives only the month range December 2025 to June 2026; date bounds are month boundaries and do not claim daily precision.","original_wording":"Various dates between Dec 2025 and June 2026; acquisition of 1,076,587 ordinary shares by VBS Exchange Pty Ltd; on-market purchases.","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":1076587,"quantity_acquired":1076587,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, VBS Exchange on-market purchase row","page":3,"source_id":"2924-03107014-6A1332210"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":"como_vsm_resources_scarcity","cash_amount":null,"consideration_basis":"not_disclosed","consideration_details":"No cash consideration, price or currency disclosed.","contract_details":"","currency":null,"date":"2025-12-01","date_end":"2026-06-30","economic_event_id":"BMC-VSG-20251201_TO_20260630-02-PURCHASE","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-20251201_TO_20260630-02-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"The form gives only the month range December 2025 to June 2026; date bounds are month boundaries and do not claim daily precision.","original_wording":"Various dates between Dec 2025 and June 2026; acquisition of 19,921 ordinary shares by Como Services Pty Ltd ATF Victor Smorgon Partners Resources Scarcity Fund; on-market purchases.","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":19921,"quantity_acquired":19921,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, Resources Scarcity Fund on-market purchase row","page":3,"source_id":"2924-03107014-6A1332210"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":"como_vsm_global_multi_strategy","cash_amount":null,"consideration_basis":"not_disclosed","consideration_details":"No cash consideration, price or currency disclosed.","contract_details":"","currency":null,"date":"2025-12-01","date_end":"2026-06-30","economic_event_id":"BMC-VSG-20251201_TO_20260630-01-PURCHASE","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-20251201_TO_20260630-01-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"The form gives only the month range December 2025 to June 2026; date bounds are month boundaries and do not claim daily precision.","original_wording":"Various dates between Dec 2025 and June 2026; acquisition of 1,640,471 ordinary shares by Como Services Pty Ltd ATF Victor Smorgon Partners Global Multi-Strategy Fund; on-market purchases.","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":1640471,"quantity_acquired":1640471,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, Global Multi-Strategy Fund on-market purchase row","page":3,"source_id":"2924-03107014-6A1332210"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":55749231.9,"consideration_basis":"cash","consideration_details":"Transaction-specific on-market cash consideration disclosed in the substantial-holder notice.","contract_details":"","currency":"AUD","date":"2026-06-30","date_end":null,"economic_event_id":"BMC-L1-20260630-06-PURCHASE","entity_id":"l1_capital","event_id":"BMC-L1-20260630-06-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"control","notes":"The disclosure reports the transaction at L1 Capital level but does not allocate it among the registered-holder accounts.","original_wording":"On-market purchase of 19,561,134 CDIs for A$55,749,231.90.","percentage":null,"percentage_basis":null,"price":2.85,"price_basis":"calculated_average","quantity":19561134,"quantity_acquired":19561134,"quantity_disposed":0,"reconciliation_note":"","security_class":"CHESS Depositary Interests (CDI)","source_refs":[{"locator":"Annexure B, Changes in relevant interests, 30 June 2026 row","page":4,"source_id":"2924-03107119-6A1332228"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":23626371.2,"consideration_basis":"cash","consideration_details":"A$3.20 per CDI; cash amount calculated as 7,383,241 x A$3.20.","contract_details":"Block trade.","currency":"AUD","date":"2026-05-18","date_end":null,"economic_event_id":"BMC-OMF-20260518-SALE","entity_id":"omf_fund_iii_bi","event_id":"BMC-OMF-20260518-SALE","event_type":"sale","exercise_price":null,"expiry_date":null,"holding_after":7383241,"holding_before":14766482,"interest_type":"direct","notes":"OMF retained 7,383,241 CDIs after the sale; it did not dispose of its full BMC position.","original_wording":"Orion entered into a block trade agreement to sell 7,383,241 CDIs at A$3.20 per CDI. The trade completed on 18 May 2026.","percentage":2.69,"percentage_basis":"voting_power","price":3.2,"price_basis":"disclosed","quantity":7383241,"quantity_acquired":0,"quantity_disposed":7383241,"reconciliation_note":"14,766,482 less 7,383,241 sold equals the reported 7,383,241 remaining; the 2.69% position confirms this was not a zero holding.","reconciliation_status":"explained","security_class":"CHESS Depositary Interests (CDIs)","source_refs":[{"locator":"Date of change table and note 2, May 2026 OMF block sale","page":1,"source_id":"2924-03091182-6A1325939"}],"supersedes":[],"venue":"not_disclosed","view":"major_holders"},{"account_entity_id":null,"cash_amount":2976095.79,"consideration_basis":"cash","consideration_details":"Transaction-specific on-market cash consideration disclosed in the substantial-holder notice.","contract_details":"","currency":"AUD","date":"2026-03-16","date_end":null,"economic_event_id":"BMC-L1-20260316-05-PURCHASE","entity_id":"l1_capital","event_id":"BMC-L1-20260316-05-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"control","notes":"The disclosure reports the transaction at L1 Capital level but does not allocate it among the registered-holder accounts.","original_wording":"On-market purchase of 1,293,561 CDIs for A$2,976,095.79.","percentage":null,"percentage_basis":null,"price":2.3007,"price_basis":"calculated_average","quantity":1293561,"quantity_acquired":1293561,"quantity_disposed":0,"reconciliation_note":"","security_class":"CHESS Depositary Interests (CDI)","source_refs":[{"locator":"Annexure B, Changes in relevant interests, 16 March 2026 row","page":4,"source_id":"2924-03107119-6A1332228"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":2300.0,"consideration_basis":"cash","consideration_details":"Transaction-specific on-market cash consideration disclosed in the substantial-holder notice.","contract_details":"","currency":"AUD","date":"2026-03-13","date_end":null,"economic_event_id":"BMC-L1-20260313-04-PURCHASE","entity_id":"l1_capital","event_id":"BMC-L1-20260313-04-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"control","notes":"The disclosure reports the transaction at L1 Capital level but does not allocate it among the registered-holder accounts.","original_wording":"On-market purchase of 1,000 CDIs for A$2,300.00.","percentage":null,"percentage_basis":null,"price":2.3,"price_basis":"calculated_average","quantity":1000,"quantity_acquired":1000,"quantity_disposed":0,"reconciliation_note":"","security_class":"CHESS Depositary Interests (CDI)","source_refs":[{"locator":"Annexure B, Changes in relevant interests, 13 March 2026 row","page":4,"source_id":"2924-03107119-6A1332228"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":1184124.83,"consideration_basis":"cash","consideration_details":"Transaction-specific on-market cash consideration disclosed in the substantial-holder notice.","contract_details":"","currency":"AUD","date":"2026-03-12","date_end":null,"economic_event_id":"BMC-L1-20260312-03-PURCHASE","entity_id":"l1_capital","event_id":"BMC-L1-20260312-03-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"control","notes":"The disclosure reports the transaction at L1 Capital level but does not allocate it among the registered-holder accounts.","original_wording":"On-market purchase of 509,301 CDIs for A$1,184,124.83.","percentage":null,"percentage_basis":null,"price":2.32500001,"price_basis":"calculated_average","quantity":509301,"quantity_acquired":509301,"quantity_disposed":0,"reconciliation_note":"","security_class":"CHESS Depositary Interests (CDI)","source_refs":[{"locator":"Annexure B, Changes in relevant interests, 12 March 2026 row","page":4,"source_id":"2924-03107119-6A1332228"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":295619.58,"consideration_basis":"cash","consideration_details":"Transaction-specific on-market cash consideration disclosed in the substantial-holder notice.","contract_details":"","currency":"AUD","date":"2026-03-11","date_end":null,"economic_event_id":"BMC-L1-20260311-02-PURCHASE","entity_id":"l1_capital","event_id":"BMC-L1-20260311-02-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"control","notes":"The disclosure reports the transaction at L1 Capital level but does not allocate it among the registered-holder accounts.","original_wording":"On-market purchase of 124,734 CDIs for A$295,619.58.","percentage":null,"percentage_basis":null,"price":2.37,"price_basis":"calculated_average","quantity":124734,"quantity_acquired":124734,"quantity_disposed":0,"reconciliation_note":"","security_class":"CHESS Depositary Interests (CDI)","source_refs":[{"locator":"Annexure B, Changes in relevant interests, 11 March 2026 row","page":4,"source_id":"2924-03107119-6A1332228"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":55450.89,"consideration_basis":"cash","consideration_details":"Transaction-specific on-market cash consideration disclosed in the substantial-holder notice.","contract_details":"","currency":"AUD","date":"2026-03-05","date_end":null,"economic_event_id":"BMC-L1-20260305-01-PURCHASE","entity_id":"l1_capital","event_id":"BMC-L1-20260305-01-PURCHASE","event_type":"purchase","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"control","notes":"The disclosure reports the transaction at L1 Capital level but does not allocate it among the registered-holder accounts.","original_wording":"On-market purchase of 23,302 CDIs for A$55,450.89.","percentage":null,"percentage_basis":null,"price":2.37966226,"price_basis":"calculated_average","quantity":23302,"quantity_acquired":23302,"quantity_disposed":0,"reconciliation_note":"","security_class":"CHESS Depositary Interests (CDI)","source_refs":[{"locator":"Annexure B, Changes in relevant interests, 5 March 2026 row","page":4,"source_id":"2924-03107119-6A1332228"}],"supersedes":[],"venue":"on_market","view":"major_holders"},{"account_entity_id":"como_tower","cash_amount":null,"consideration_basis":"non_cash","consideration_details":"Off-market transfer between associates; no cash consideration disclosed.","contract_details":"Internal associate transfer.","currency":null,"date":"2026-01-16","date_end":null,"economic_event_id":"BMC-VSG-20260116-COMOTOWER-TO-VBS-TRANSFER","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-20260116-COMOTOWER-TRANSFER-OUT","event_type":"transfer_out","exercise_price":null,"expiry_date":null,"holding_after":0,"holding_before":9244740,"interest_type":"indirect","notes":"Single non-cash transfer event from Como Tower Pty Ltd to VBS Exchange Pty Ltd, both associates; the transfer does not change Victor Smorgon Group's aggregate holding.","original_wording":"16/01/2026; Como Tower Pty Ltd transferred 9,244,740 ordinary shares off-market to VBS Exchange Pty Ltd (associate), as shown by the paired transfer-out and transfer-in rows.","percentage":null,"percentage_basis":null,"price":null,"price_basis":"not_disclosed","quantity":9244740,"quantity_acquired":0,"quantity_disposed":9244740,"reconciliation_note":"The same 9,244,740 shares are reported as transferred into VBS Exchange; these are the two sides of one internal associate transfer.","reconciliation_status":"explained","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, paired Como Tower transfer-out and VBS Exchange transfer-in rows","page":3,"source_id":"2924-03107014-6A1332210"}],"supersedes":[],"venue":"off_market","view":"major_holders"},{"account_entity_id":null,"cash_amount":21570126,"consideration_basis":"cash","consideration_details":"A$2.00 per CDI; cash amount calculated as 10,785,063 x A$2.00.","contract_details":"Block trade with the IPO Joint Lead Managers.","currency":"AUD","date":"2025-12-16","date_end":null,"economic_event_id":"BMC-OMF-20251216-SALE","entity_id":"omf_fund_iii_bi","event_id":"BMC-OMF-20251216-SALE","event_type":"sale","exercise_price":null,"expiry_date":null,"holding_after":14766482,"holding_before":25551545,"interest_type":"direct","notes":"The 14,766,482-CDI position after this sale is the opening balance reported before the May 2026 sale.","original_wording":"Orion entered into a block trade agreement with the Joint Lead Managers to the IPO to sell 10,785,063 CDIs at A$2.00 per CDI. The trade completed on 16 December 2025.","percentage":5.38,"percentage_basis":"voting_power","price":2,"price_basis":"disclosed","quantity":10785063,"quantity_acquired":0,"quantity_disposed":10785063,"reconciliation_note":"25,551,545 less 10,785,063 sold equals the reported 14,766,482 remaining.","reconciliation_status":"explained","security_class":"CHESS Depositary Interests (CDIs)","source_refs":[{"locator":"Date of change table and note 2, December 2025 OMF block sale","page":1,"source_id":"2924-03040348-6A1304707"}],"supersedes":[],"venue":"not_disclosed","view":"major_holders"},{"account_entity_id":"tembo_capital_holdings_iv_guernsey","cash_amount":null,"consideration_basis":"cash","consideration_details":"Form states 'Cash \u2013 $2.00 per share'; currency is unspecified, so no cash amount or currency is normalized.","contract_details":"The form does not identify the acquisition as an IPO subscription or market purchase.","currency":null,"date":"2025-12-12","date_end":null,"economic_event_id":"BMC-TEMBO-20251212-OTHER-ACQUISITION","entity_id":"tembo_capital_group","event_id":"BMC-TEMBO-20251212-OTHER-ACQUISITION","event_type":"other","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"control","notes":"The form reports a dated cash acquisition but does not state whether it was a market purchase or IPO subscription; the classification is kept as other.","original_wording":"Tembo; 12/12/2025; Cash \u2013 $2.00 per share; 15,250,000 ordinary shares.","percentage":null,"percentage_basis":null,"price":2.0,"price_basis":"disclosed","quantity":15250000,"quantity_acquired":15250000,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Section 5, Tembo consideration and acquisition row","page":2,"source_id":"2924-03039640-6A1304388"},{"locator":"Sections 1-3, initial substantial-holder position and relevant interest","page":1,"source_id":"2924-03039640-6A1304388"}],"supersedes":[],"venue":"not_disclosed","view":"major_holders"},{"account_entity_id":"vbs_exchange","cash_amount":5173486,"consideration_basis":"cash","consideration_details":"AU$2.00 per share is disclosed; the form does not classify the acquisition as a market purchase or IPO subscription.","contract_details":"","currency":"AUD","date":"2025-12-08","date_end":null,"economic_event_id":"BMC-VSG-20251208-03-OTHER-ACQUISITION","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-20251208-03-OTHER-ACQUISITION","event_type":"other","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"The source identifies a dated cash acquisition but does not state whether it was an IPO subscription or market purchase; the record preserves that uncertainty.","original_wording":"VBS Exchange Pty Ltd; 8/12/2025; Cash AU$2.00 per share; 2,586,743 ordinary shares.","percentage":null,"percentage_basis":null,"price":2.0,"price_basis":"disclosed","quantity":2586743,"quantity_acquired":2586743,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, consideration row for VBS Exchange Pty Ltd","page":4,"source_id":"2924-03036715-6A1303113"},{"locator":"Annexure A, registered-holder table for VBS Exchange","page":3,"source_id":"2924-03036715-6A1303113"}],"supersedes":[],"venue":"not_disclosed","view":"major_holders"},{"account_entity_id":"gannet_vsm_resources_scarcity","cash_amount":841764,"consideration_basis":"cash","consideration_details":"AU$2.00 per share is disclosed; the form does not classify the acquisition as a market purchase or IPO subscription.","contract_details":"","currency":"AUD","date":"2025-12-08","date_end":null,"economic_event_id":"BMC-VSG-20251208-02-OTHER-ACQUISITION","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-20251208-02-OTHER-ACQUISITION","event_type":"other","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"The source identifies a dated cash acquisition but does not state whether it was an IPO subscription or market purchase; the record preserves that uncertainty.","original_wording":"Gannet Capital Pty Ltd ATF Resources Scarcity Fund; 8/12/2025; Cash AU$2.00 per share; 420,882 ordinary shares.","percentage":null,"percentage_basis":null,"price":2.0,"price_basis":"disclosed","quantity":420882,"quantity_acquired":420882,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, consideration row for Resources Scarcity Fund","page":4,"source_id":"2924-03036715-6A1303113"},{"locator":"Annexure A, registered-holder table for the same fund","page":3,"source_id":"2924-03036715-6A1303113"}],"supersedes":[],"venue":"not_disclosed","view":"major_holders"},{"account_entity_id":"gannet_vsm_global_multi_strategy","cash_amount":5984750,"consideration_basis":"cash","consideration_details":"AU$2.00 per share is disclosed; the form does not classify the acquisition as a market purchase or IPO subscription.","contract_details":"","currency":"AUD","date":"2025-12-08","date_end":null,"economic_event_id":"BMC-VSG-20251208-01-OTHER-ACQUISITION","entity_id":"victor_smorgon_group","event_id":"BMC-VSG-20251208-01-OTHER-ACQUISITION","event_type":"other","exercise_price":null,"expiry_date":null,"holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"The source identifies a dated cash acquisition but does not state whether it was an IPO subscription or market purchase; the record preserves that uncertainty.","original_wording":"Gannet Capital Pty Ltd ATF Victor Smorgon Partners Global Multi-Strategy Fund; 8/12/2025; Cash AU$2.00 per share; 2,992,375 ordinary shares.","percentage":null,"percentage_basis":null,"price":2.0,"price_basis":"disclosed","quantity":2992375,"quantity_acquired":2992375,"quantity_disposed":0,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, consideration row for Global Multi-Strategy Fund","page":4,"source_id":"2924-03036715-6A1303113"},{"locator":"Annexure A, registered-holder table for the same fund","page":3,"source_id":"2924-03036715-6A1303113"}],"supersedes":[],"venue":"not_disclosed","view":"major_holders"}],"facets":{"entities":["bmc_uk_no_1","l1_capital","omf_fund_iii_bi","tembo_capital_group","victor_smorgon_group"],"event_types":["other","purchase","sale","transfer_out"],"securities":["CHESS Depositary Interests (CDI)","CHESS Depositary Interests (CDIs)","FPO","Fully paid common shares and/or CHESS Depositary Interests; class not disaggregated","Fully paid ordinary shares (FPO)","Ordinary shares"]},"filters":{"end":"","entity":"","security":"","start":"","type":"","view":"major_holders"},"holdings":[{"account_entity_id":null,"date":"2026-09-23","date_end":null,"entity_id":"l1_capital","holding_after":43785787,"holding_before":41032365,"interest_type":"indirect","notes":"Three purchase rows total 2,753,422, matching the movement from 41,032,365 to 43,785,787; the notice states voting power is based on 274,639,795 issued shares.","observation_id":"BMC-L1-POSITION-20260923","observation_type":"final","percentage":15.94,"percentage_basis":"issued_shares","quantity":43785787,"reconciliation_note":"Three purchase rows total 2,753,422, matching the movement from 41,032,365 to 43,785,787; the notice states voting power is based on 274,639,795 issued shares.","reconciliation_status":"explained","security_class":"FPO","source_refs":[{"locator":"Form 604 section 2, present notice; prior voting power also shown on page 1","page":1,"source_id":"2924-03140139-6A1345805"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":null,"date":"2026-09-23","date_end":null,"entity_id":"victor_smorgon_group","holding_after":33985297,"holding_before":30704117,"interest_type":"indirect","notes":"Five Annexure A purchase rows total 3,281,180, matching the increase from 30,704,117 to 33,985,297; voting power is disclosed as 12.37%.","observation_id":"BMC-VSG-POSITION-20260923","observation_type":"final","percentage":12.37,"percentage_basis":"issued_shares","quantity":33985297,"reconciliation_note":"Five Annexure A purchase rows total 3,281,180, matching the increase from 30,704,117 to 33,985,297; voting power is disclosed as 12.37%.","reconciliation_status":"explained","security_class":"Ordinary shares","source_refs":[{"locator":"Form 604 section 2, previous and present voting power","page":1,"source_id":"2924-03139920-6A1345703"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":"tembo_capital_holdings_iv_guernsey","date":"2026-08-31","date_end":null,"entity_id":"tembo_capital_group","holding_after":null,"holding_before":null,"interest_type":"control","notes":"The report states the Security Holder Information is current as of 31 August 2026. The top-20 table names Tembo Capital Holdings IV Guernsey Ltd at 15,250,000 shares; the substantial-holder table lists Tembo and its associates at the same 15,250,000. This confirms the group's reported initial position, without identifying a transaction between the Form 603 and this snapshot.","observation_id":"BMC-TEMBO-POSITION-20260831","observation_type":"position","percentage":5.55,"percentage_basis":"voting_power","quantity":15250000,"reconciliation_note":"The 15,250,000-share account and group totals match the Form 603 position. The report gives a dated snapshot, not a transaction trail.","reconciliation_status":"explained","security_class":"Ordinary shares","source_refs":[{"locator":"Security Holder Information, 20 largest registered holders, Tembo Capital Holdings IV Guernsey Ltd row","page":108,"source_id":"2924-03134531-6A1343379"},{"locator":"Substantial Holders, Tembo Capital Holdings IV Guernsey Ltd and its associates","page":109,"source_id":"2924-03134531-6A1343379"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":null,"date":"2026-08-21","date_end":null,"entity_id":"l1_capital","holding_after":41032365,"holding_before":33098095,"interest_type":"control","notes":"Aggregate L1 Capital relevant interest across four registered holders. The two disclosed purchases total 7,934,270 shares since the previous 33,098,095-share holding.","observation_id":"BMC-L1-POSITION-20260821","observation_type":"final","percentage":14.94,"percentage_basis":"voting_power","quantity":41032365,"reconciliation_note":"","security_class":"Fully paid ordinary shares (FPO)","source_refs":[{"locator":"Form 604 section 2, present voting power; Annexure B account totals","page":1,"source_id":"2924-03125105-6A1339937"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":null,"date":"2026-07-02","date_end":null,"entity_id":"bmc_uk_no_1","holding_after":148110088,"holding_before":177644896,"interest_type":"direct","notes":"Direct BMC UK position after the completed block trade.","observation_id":"BMC-BMCUK-POSITION-20260702","observation_type":"final","percentage":53.93,"percentage_basis":"voting_power","quantity":148110088,"reconciliation_note":"The notice reports the position change from 177,644,896 (64.68%) to 148,110,088 (53.93%); the 29,534,808 difference matches the disclosed sale.","reconciliation_status":"explained","security_class":"CHESS Depositary Interests (CDIs)","source_refs":[{"locator":"Previous and present notice, BMC UK CDI position","page":1,"source_id":"2924-03107175-6A1332253"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":null,"date":"2026-06-30","date_end":null,"entity_id":"l1_capital","holding_after":33098095,"holding_before":null,"interest_type":"control","notes":"Aggregate L1 Capital relevant interest; Annexure A lists four registered holders.","observation_id":"BMC-L1-INITIAL-20260630","observation_type":"initial","percentage":12.05,"percentage_basis":"voting_power","quantity":33098095,"reconciliation_note":"","security_class":"CHESS Depositary Interests (CDI)","source_refs":[{"locator":"Form 603 section 2, voting power and number of securities; aggregate across Annexure A registered holders","page":1,"source_id":"2924-03107119-6A1332228"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":"evolution_vsm_global_equities","date":"2026-06-30","date_end":null,"entity_id":"victor_smorgon_group","holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Present reported account position, equal to the new 523,784-share holding reported in Annexure A.","observation_id":"BMC-VSG-GLOBAL-EQUITIES-POSITION-20260630","observation_type":"position","percentage":null,"percentage_basis":null,"quantity":523784,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Section 4, present relevant interest for Global Equities Fund","page":4,"source_id":"2924-03107014-6A1332210"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":"como_vsm_global_multi_strategy","date":"2026-06-30","date_end":null,"entity_id":"victor_smorgon_group","holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Section 4's 4,632,846 Northern Trust holding and 10,689,438 trustee-account holding sum to 15,322,284.","observation_id":"BMC-VSG-GLOBAL-MULTI-POSITION-20260630","observation_type":"position","percentage":null,"percentage_basis":null,"quantity":15322284,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Section 4, present relevant interest for Global Multi-Strategy Fund","page":4,"source_id":"2924-03107014-6A1332210"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":null,"date":"2026-06-30","date_end":null,"entity_id":"victor_smorgon_group","holding_after":30704117,"holding_before":27443354,"interest_type":"indirect","notes":"Aggregate group position after the disclosed activities; the January transfer between associates nets to zero at group level.","observation_id":"BMC-VSG-POSITION-20260630","observation_type":"final","percentage":11.18,"percentage_basis":"voting_power","quantity":30704117,"reconciliation_note":"Four on-market purchase rows total 3,260,763, exactly matching the increase from 27,443,354 to 30,704,117. The two 9,244,740 transfer rows are internal and cancel at group level.","reconciliation_status":"explained","security_class":"Ordinary shares","source_refs":[{"locator":"Form 604 section 2, previous and present voting power","page":1,"source_id":"2924-03107014-6A1332210"},{"locator":"Annexure A, four purchase rows and two transfer rows","page":3,"source_id":"2924-03107014-6A1332210"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":"como_vsm_resources_scarcity","date":"2026-06-30","date_end":null,"entity_id":"victor_smorgon_group","holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Section 4's 440,803 Northern Trust holding and 1,509,176 trustee-account holding sum to 1,949,979.","observation_id":"BMC-VSG-RESOURCES-SCARCITY-POSITION-20260630","observation_type":"position","percentage":null,"percentage_basis":null,"quantity":1949979,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Section 4, present relevant interest for Resources Scarcity Fund","page":4,"source_id":"2924-03107014-6A1332210"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":"vbs_exchange","date":"2026-06-30","date_end":null,"entity_id":"victor_smorgon_group","holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Present reported account position after the January 2026 associate transfer and the on-market purchases disclosed in Annexure A.","observation_id":"BMC-VSG-VBS-POSITION-20260630","observation_type":"position","percentage":null,"percentage_basis":null,"quantity":12908070,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Section 4, present relevant interest for VBS Exchange Pty Ltd","page":4,"source_id":"2924-03107014-6A1332210"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":null,"date":"2026-05-18","date_end":null,"entity_id":"omf_fund_iii_bi","holding_after":7383241,"holding_before":14766482,"interest_type":"direct","notes":"Final position after the 18 May 2026 block sale.","observation_id":"BMC-OMF-POSITION-20260518","observation_type":"final","percentage":2.69,"percentage_basis":"voting_power","quantity":7383241,"reconciliation_note":"The source reports a remaining position of 7,383,241 CDIs and 2.69%; 'ceasing' refers to substantial-holder status only.","reconciliation_status":"explained","security_class":"CHESS Depositary Interests (CDIs)","source_refs":[{"locator":"Previous and present notice, OMF CDI holding and voting power","page":1,"source_id":"2924-03091182-6A1325939"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":null,"date":"2025-12-16","date_end":null,"entity_id":"omf_fund_iii_bi","holding_after":14766482,"holding_before":25551545,"interest_type":"direct","notes":"Final position after the 16 December 2025 block sale.","observation_id":"BMC-OMF-POSITION-20251216","observation_type":"final","percentage":5.38,"percentage_basis":"voting_power","quantity":14766482,"reconciliation_note":"The disclosed sale quantity exactly reconciles the before and after positions.","reconciliation_status":"explained","security_class":"CHESS Depositary Interests (CDIs)","source_refs":[{"locator":"Previous and present notice, OMF CDI holding and voting power","page":1,"source_id":"2924-03040348-6A1304707"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":"tembo_capital_holdings_iv_guernsey","date":"2025-12-12","date_end":null,"entity_id":"tembo_capital_group","holding_after":15250000,"holding_before":null,"interest_type":"control","notes":"Initial reported group position; Tembo is the registered holder and the Tembo Group Entities' interest arises through control.","observation_id":"BMC-TEMBO-INITIAL-POSITION-20251212","observation_type":"initial","percentage":5.55,"percentage_basis":"voting_power","quantity":15250000,"reconciliation_note":"The form's initial position is 15,250,000 shares. Its Section 5 consideration table reports that same quantity on 12 December at $2.00 per share, with currency unspecified.","reconciliation_status":"explained","security_class":"Ordinary shares","source_refs":[{"locator":"Sections 1 and 2, holder date and voting power","page":1,"source_id":"2924-03039640-6A1304388"},{"locator":"Annexure A, Tembo Group Entities","page":4,"source_id":"2924-03039640-6A1304388"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":null,"date":"2025-12-10","date_end":null,"entity_id":"omf_fund_iii_bi","holding_after":25551545,"holding_before":null,"interest_type":"not_disclosed","notes":"Issuer announcement does not identify its registered account or disaggregate common shares and CDIs.","observation_id":"BMC-OMF-FUND-INITIAL-20251210","observation_type":"initial","percentage":9.3,"percentage_basis":"voting_power","quantity":25551545,"reconciliation_note":"","security_class":"Fully paid common shares and/or CHESS Depositary Interests; class not disaggregated","source_refs":[{"locator":"Initial substantial shareholders table, OMF Fund III (Bi) LP row and note 1","page":1,"source_id":"2924-03037110-6A1303288"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":null,"date":"2025-12-10","date_end":null,"entity_id":"bmc_uk_no_1","holding_after":177644896,"holding_before":null,"interest_type":"not_disclosed","notes":"Issuer announcement identifies 100% parent as BMC (UK) Limited.","observation_id":"BMC-UK-NO1-INITIAL-20251210","observation_type":"initial","percentage":64.68,"percentage_basis":"voting_power","quantity":177644896,"reconciliation_note":"","security_class":"Fully paid common shares and/or CHESS Depositary Interests; class not disaggregated","source_refs":[{"locator":"Initial substantial shareholders table, BMC (UK) No.1 Limited row and note 1","page":1,"source_id":"2924-03037110-6A1303288"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":"como_tower","date":"2025-12-08","date_end":null,"entity_id":"victor_smorgon_group","holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"Como Tower Pty Ltd is identified as the beneficial owner of this associate-held position.","observation_id":"BMC-VSG-COMOTOWER-INITIAL-20251208","observation_type":"initial","percentage":null,"percentage_basis":null,"quantity":9244740,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, Como Tower beneficial-holder row","page":3,"source_id":"2924-03036715-6A1303113"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":"gannet_vsm_global_multi_strategy","date":"2025-12-08","date_end":null,"entity_id":"victor_smorgon_group","holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"13,681,813-share beneficial interest, comprising 2,992,375 registered to Titan Settlement & Custody Limited and 10,689,438 registered to Gannet Capital ATF the fund.","observation_id":"BMC-VSG-GLOBAL-MULTI-INITIAL-20251208","observation_type":"initial","percentage":null,"percentage_basis":null,"quantity":13681813,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, Global Multi-Strategy beneficial interest and registered-holder rows","page":3,"source_id":"2924-03036715-6A1303113"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":null,"date":"2025-12-08","date_end":null,"entity_id":"victor_smorgon_group","holding_after":27443354,"holding_before":null,"interest_type":"indirect","notes":"Initial reported Victor Smorgon Group position; the form states the group became substantial on 8 December 2025.","observation_id":"BMC-VSG-INITIAL-POSITION-20251208","observation_type":"initial","percentage":9.99,"percentage_basis":"voting_power","quantity":27443354,"reconciliation_note":"The three Section 5 acquisition rows total 6,000,000 shares at AU$2.00. The Form 603's consideration table covers acquisitions in the preceding four months; the remaining 21,443,354 shares are part of the disclosed initial balance but are not itemized as dated transactions, so no trade is inferred.","reconciliation_status":"explained","security_class":"Ordinary shares","source_refs":[{"locator":"Form 603 sections 1 and 2, date became substantial and aggregate voting power","page":1,"source_id":"2924-03036715-6A1303113"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":"gannet_vsm_resources_scarcity","date":"2025-12-08","date_end":null,"entity_id":"victor_smorgon_group","holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"1,930,058-share beneficial interest, comprising 420,882 registered to Titan Settlement & Custody Limited and 1,509,176 registered to Gannet Capital ATF the fund.","observation_id":"BMC-VSG-RESOURCES-SCARCITY-INITIAL-20251208","observation_type":"initial","percentage":null,"percentage_basis":null,"quantity":1930058,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, Resources Scarcity beneficial interest and registered-holder rows","page":3,"source_id":"2924-03036715-6A1303113"}],"supersedes":[],"view":"major_holders"},{"account_entity_id":"vbs_exchange","date":"2025-12-08","date_end":null,"entity_id":"victor_smorgon_group","holding_after":null,"holding_before":null,"interest_type":"indirect","notes":"VBS Exchange Pty Ltd is identified as beneficial owner and registered holder.","observation_id":"BMC-VSG-VBS-INITIAL-20251208","observation_type":"initial","percentage":null,"percentage_basis":null,"quantity":2586743,"reconciliation_note":"","security_class":"Ordinary shares","source_refs":[{"locator":"Annexure A, VBS Exchange beneficial-holder and registered-holder rows","page":3,"source_id":"2924-03036715-6A1303113"}],"supersedes":[],"view":"major_holders"}],"pending_count":0,"pending_ownership_count":0,"pending_support_count":0,"review":{"coverage_note":"Complete review of the BMC stock-specific director and substantial-holder source queue through the 2026-11-02 cutoff, cumulatively preserving the prior L1 Capital, Victor Smorgon Group, and AGM-circular review. All eight remaining substantive notices were reviewed; the 2026 Annual Report was reviewed for its dated 31 August holder register, and the Corporate Governance Statement and Pre-Quotation Disclosure were triaged as supporting context. The BMC UK sell-down reported by two directors and BMC UK is one economic trade, with the directors' overlapping indirect interests preserved separately by view and linked by economic event ID. Coverage refers to collected BMC ASX disclosures in the ticker queue and does not claim coverage of unreported or non-public trading.","coverage_start":"2023-01-01","cutoff_date":"2026-11-02","download_profile":"valuation","issuer_identifier":"ARBN 647 860 124","issuer_name":"BMC Minerals Ltd","limitations":["The July 2026 Victor Smorgon Form 604 describes four purchase rows as occurring on various dates between December 2025 and June 2026; daily dates are not disclosed and the month-boundary ranges are retained.","The September 2026 L1 Capital Form 604 gives dollar consideration without a currency label; no currency or cash amount is inferred in the preserved earlier records.","The December 2025 Tembo Form 603 reports cash consideration of $2.00 per share without naming the currency or classifying the acquisition as an IPO subscription or market purchase; the event remains 'other' with no normalized cash total.","The December 2025 Victor Smorgon Form 603 reports three dated AU$2.00 acquisitions totaling 6,000,000 shares; the remaining 21,443,354 shares in the initial group position are not itemized as dated transactions in its four-month consideration table, so no earlier transaction is inferred.","The Pre-Quotation Disclosure's top-20 table does not state an exact effective date and is retained as IPO-era context only; dated Forms 603/604 and the August 2026 Annual Report register are used for dated positions.","The Annual Report's director-interest table says 'as of the date of this report' but does not state an exact date at that section; it is cross-checked as context and no day-specific director observation is assigned from that table."],"reviewed_at":"2026-11-02T11:49:11Z","schema_version":"1.1.0","ticker":"BMC","view_coverage":{"directors":{"coverage_start":"2023-01-01","note":"All BMC director-interest notices in the stock-specific queue through the cutoff were reviewed: the seven initial Appendix 3X disclosures dated 12 December 2025 and the 30 June 2026 Appendix 3Y notices for Scott Donaldson and David Ellis. Their 29,534,808-CDI sale reports describe one BMC UK block trade completed 2 July 2026; each director's overlapping indirect interest is retained with the shared economic event ID. Initial option notices are position observations, not grant or exercise events.","reviewed_at":"2026-11-02T11:49:11Z","reviewed_through":"2026-11-02","status":"complete"},"major_holders":{"coverage_start":"2023-01-01","note":"All BMC substantial-holder notices in the stock-specific queue through the cutoff were reviewed, including initial Victor Smorgon and Tembo positions, the Orion block sales, the BMC UK July 2026 sell-down, and the Victor Smorgon January transfer and four purchase rows. The Annual Report register confirms Tembo and associates at 15,250,000 shares as of 31 August 2026; no intervening Tembo transaction is inferred. The latest previously reviewed L1/Victor holdings and 8 October AGM holder table remain preserved.","reviewed_at":"2026-11-02T11:49:11Z","reviewed_through":"2026-11-02","status":"complete"}}},"review_digest":"a9f1d1228efbc2c9a69988738c79429f22d434bbe6ce6ad92a007b86580fccca","review_issues":[{"note":"25,551,545 less 10,785,063 sold equals the reported 14,766,482 remaining.","record_id":"BMC-OMF-20251216-SALE","source_ids":["2924-03040348-6A1304707"],"status":"explained","view":"major_holders"},{"note":"14,766,482 less 7,383,241 sold equals the reported 7,383,241 remaining; the 2.69% position confirms this was not a zero holding.","record_id":"BMC-OMF-20260518-SALE","source_ids":["2924-03091182-6A1325939"],"status":"explained","view":"major_holders"},{"note":"The same 9,244,740 shares are reported as transferred into VBS Exchange; these are the two sides of one internal associate transfer.","record_id":"BMC-VSG-20260116-COMOTOWER-TRANSFER-OUT","source_ids":["2924-03107014-6A1332210"],"status":"explained","view":"major_holders"},{"note":"177,644,896 less the disclosed 29,534,808-CDI sale equals the reported 148,110,088-CDI remaining position.","record_id":"BMC-BMCUK-20260702-SALE","source_ids":["2924-03105386-6A1331559","2924-03107175-6A1332253"],"status":"explained","view":"major_holders"},{"note":"The notice reports the position change from 177,644,896 (64.68%) to 148,110,088 (53.93%); the 29,534,808 difference matches the disclosed sale.","record_id":"BMC-BMCUK-POSITION-20260702","source_ids":["2924-03107175-6A1332253"],"status":"explained","view":"major_holders"},{"note":"Three purchase rows total 2,753,422, matching the movement from 41,032,365 to 43,785,787; the notice states voting power is based on 274,639,795 issued shares.","record_id":"BMC-L1-POSITION-20260923","source_ids":["2924-03140139-6A1345805"],"status":"explained","view":"major_holders"},{"note":"The disclosed sale quantity exactly reconciles the before and after positions.","record_id":"BMC-OMF-POSITION-20251216","source_ids":["2924-03040348-6A1304707"],"status":"explained","view":"major_holders"},{"note":"The source reports a remaining position of 7,383,241 CDIs and 2.69%; 'ceasing' refers to substantial-holder status only.","record_id":"BMC-OMF-POSITION-20260518","source_ids":["2924-03091182-6A1325939"],"status":"explained","view":"major_holders"},{"note":"The form's initial position is 15,250,000 shares. Its Section 5 consideration table reports that same quantity on 12 December at $2.00 per share, with currency unspecified.","record_id":"BMC-TEMBO-INITIAL-POSITION-20251212","source_ids":["2924-03039640-6A1304388"],"status":"explained","view":"major_holders"},{"note":"The 15,250,000-share account and group totals match the Form 603 position. The report gives a dated snapshot, not a transaction trail.","record_id":"BMC-TEMBO-POSITION-20260831","source_ids":["2924-03134531-6A1343379"],"status":"explained","view":"major_holders"},{"note":"The three Section 5 acquisition rows total 6,000,000 shares at AU$2.00. The Form 603's consideration table covers acquisitions in the preceding four months; the remaining 21,443,354 shares are part of the disclosed initial balance but are not itemized as dated transactions, so no trade is inferred.","record_id":"BMC-VSG-INITIAL-POSITION-20251208","source_ids":["2924-03036715-6A1303113"],"status":"explained","view":"major_holders"},{"note":"Four on-market purchase rows total 3,260,763, exactly matching the increase from 27,443,354 to 30,704,117. The two 9,244,740 transfer rows are internal and cancel at group level.","record_id":"BMC-VSG-POSITION-20260630","source_ids":["2924-03107014-6A1332210"],"status":"explained","view":"major_holders"},{"note":"Five Annexure A purchase rows total 3,281,180, matching the increase from 30,704,117 to 33,985,297; voting power is disclosed as 12.37%.","record_id":"BMC-VSG-POSITION-20260923","source_ids":["2924-03139920-6A1345703"],"status":"explained","view":"major_holders"}],"scan":{"failures":[],"last_collected_at":"2026-11-06T12:02:51.347547Z","profile":"valuation","scanned_through":"2026-11-06","ticker":"BMC"},"sources":{"2924-03035899-6A1302728":{"category":"shareholder_list","collected_at":"2026-11-02T10:52:40.851502Z","page_count":12,"published_at_utc":"2025-12-10T07:48:29Z","relative_path":"2025/2025-12-10_Pre-Quotation Disclosure_22e7970b539b36c5.pdf","review_note":"Issuer match confirmed. Reviewed the pre-quotation ownership and option disclosures, including the 20 largest holders table on PDF page 8. The table is IPO-context only, has no clearly stated effective date, and the document notes that Orion's expected post-block position differs from the table; later Forms 603/604 and the 2026 Annual Report supply dated positions. No transaction or dated observation is inferred from this source.","sha256":"25619daf71b279ab9e4b06256b6b40a244864d6b25242ee720edc9b192fd62d1","source_id":"2924-03035899-6A1302728","state":"supporting","subject_name":"BMC Minerals Ltd. (ARBN 647 860 124)","subject_ticker":"BMC","title":"Pre-Quotation Disclosure","triage":{"classification":"relevant","reason":"Provides IPO-era holder/account context for the subsequent initial substantial-holder notices; it is not a dated register or a transaction disclosure.","views":["major_holders"]},"url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03035899-6A1302728"},"2924-03036715-6A1303113":{"category":"holder_notice","collected_at":"2026-11-02T10:52:40.850844Z","page_count":4,"published_at_utc":"2025-12-11T23:30:47Z","relative_path":"2025/2025-12-12_Becoming a substantial holder_b9d0ac2aace18ad2.pdf","review_note":"Issuer match confirmed by the Form 603 on PDF page 1 (BMC Minerals Limited, ACN/ARBN 647 860 124). The Victor Smorgon Group became substantial on 8 December 2025 with 27,443,354 ordinary shares (9.99%). Annexure A identifies the beneficial holder positions and registered holders. Section 5 identifies three acquisitions dated 8 December totaling 6,000,000 shares at AU$2.00 per share. The form does not label these acquisitions as market purchases or IPO subscriptions, so they are recorded as 'other'; the remaining 21,443,354-share initial balance is not treated as a transaction.","sha256":"52534b102ff55f763a1bc0585cf92924cd58a0c51709788ef594b3b257912bc3","source_id":"2924-03036715-6A1303113","state":"reviewed","subject_name":"BMC Minerals Limited (ARBN 647 860 124)","subject_ticker":"BMC","title":"Becoming a substantial holder","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03036715-6A1303113"},"2924-03037109-6A1303287":{"category":"director_interest","collected_at":"2026-11-02T10:52:40.849109Z","page_count":15,"published_at_utc":"2025-12-12T08:47:10Z","relative_path":"2025/2025-12-12_Initial Directors' Interest Notices_46ffb827cec03e56.pdf","review_note":"Issuer match confirmed on the announcement page (PDF page 1: BMC Minerals Ltd., ASX:BMC, ARBN 647 860 124). All seven Appendix 3X notices across pages 2-15 were reviewed. The form templates on pages 2-15 print 647 860 125, conflicting with the correct company identifier on page 1; treated as a template typo. Position disclosures are recorded as holdings on the 12 December 2025 notice date. The options are reported positions; no grant, vesting, exercise or expiry is inferred from these notices.","sha256":"e8656691f4328de4e601030b997df5e3b0bb568788a2d914291c4513eaa034d7","source_id":"2924-03037109-6A1303287","state":"reviewed","subject_name":"BMC Minerals Ltd. (ARBN 647 860 124)","subject_ticker":"BMC","title":"Initial Directors' Interest Notices","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03037109-6A1303287"},"2924-03037110-6A1303288":{"category":"holder_notice","collected_at":"2026-10-09T19:45:35.020626Z","page_count":1,"published_at_utc":"2025-12-12T08:47:35Z","relative_path":"2025/2025-12-12_Notice of Initial Substantial Shareholders_ee6f74d800cfa97c.pdf","review_note":"Reviewed full one-page issuer announcement. Reports BMC (UK) No.1 Limited and OMF Fund III (Bi) LP positions on admission date 10 December 2025; no transaction details. Announcement identifies BMC Minerals Ltd, ASX:BMC, company number BC1014247 and ARBN 647 860 124. Positions are retained as initial observations only.","sha256":"1277f54c449781b1671547eec172a8c7552032d027fca334b0b354fa8833cdc0","source_id":"2924-03037110-6A1303288","state":"reviewed","subject_name":"BMC Minerals Ltd","subject_ticker":"BMC","title":"Notice of Initial Substantial Shareholders","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03037110-6A1303288"},"2924-03039640-6A1304388":{"category":"holder_notice","collected_at":"2026-11-02T10:52:40.846430Z","page_count":4,"published_at_utc":"2025-12-18T22:41:33Z","relative_path":"2025/2025-12-19_Becoming a substantial holder_8f57c51b3330fc8c.pdf","review_note":"Issuer match confirmed from Form 603 page 1 (BMC Minerals Limited, ARBN 647 860 124). Tembo Capital Holdings IV Guernsey Ltd and its Annexure A group entities became substantial holders on 12 December 2025 with 15,250,000 ordinary shares and 5.55% voting power. Section 5 reports cash consideration of $2.00 per share for 15,250,000 shares on that date but does not specify currency or whether the acquisition was an IPO subscription or market purchase; transaction type is therefore recorded as other, with no cash total or currency inferred. Annexure A identifies Tembo Capital Mining Fund IV LP as a Tembo Group Entity.","sha256":"b8bcbda3565c84d2c06efc8877a322c4baf2bfce16692825d05c9c745652f6e9","source_id":"2924-03039640-6A1304388","state":"reviewed","subject_name":"BMC Minerals Limited (ARBN 647 860 124)","subject_ticker":"BMC","title":"Becoming a substantial holder","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03039640-6A1304388"},"2924-03040348-6A1304707":{"category":"holder_notice","collected_at":"2026-11-02T10:52:40.845523Z","page_count":1,"published_at_utc":"2025-12-21T22:49:34Z","relative_path":"2025/2025-12-22_Notice of Change of Substantial Holder_dfdf08929a6c1a33.pdf","review_note":"Issuer match confirmed on PDF page 1. The notice reports an OMF Fund III (Bi) LP sale of 10,785,063 CDIs at A$2.00 each, completed on 16 December 2025, reducing its position from 25,551,545 (9.30%) to 14,766,482 (5.38%). The remaining position matches the subsequent May 2026 notice.","sha256":"11fe944c4485b3b4e77c8bf118e0506b02bf0bb1509b4467ba171e359e1c7a34","source_id":"2924-03040348-6A1304707","state":"reviewed","subject_name":"BMC Minerals Ltd. (ARBN 647 860 124)","subject_ticker":"BMC","title":"Notice of Change of Substantial Holder","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03040348-6A1304707"},"2924-03091182-6A1325939":{"category":"holder_notice","collected_at":"2026-11-02T10:52:40.844679Z","page_count":1,"published_at_utc":"2026-05-18T06:51:35Z","relative_path":"2026/2026-05-18_Notice of Ceasing to be a Substantial Holder_f694ceba9f83b763.pdf","review_note":"Issuer match confirmed on PDF page 1. OMF Fund III (Bi) LP entered into a block trade to sell 7,383,241 CDIs at A$3.20 each; completed 18 May 2026. The reported holding declined from 14,766,482 (5.38%) to 7,383,241 (2.69%). The title's 'ceasing' wording reflects loss of substantial-holder status, not a zero holding.","sha256":"69e07665cbc33ab894e8e49f61825cb08221723a2b094da09ea1d9d0f42942ef","source_id":"2924-03091182-6A1325939","state":"reviewed","subject_name":"BMC Minerals Ltd. (ARBN 647 860 124)","subject_ticker":"BMC","title":"Notice of Ceasing to be a Substantial Holder","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03091182-6A1325939"},"2924-03105386-6A1331559":{"category":"director_interest","collected_at":"2026-11-02T10:52:40.843801Z","page_count":7,"published_at_utc":"2026-06-29T23:06:25Z","relative_path":"2026/2026-06-30_Change of Directors' Interest Notices_74465ad4d5e6901a.pdf","review_note":"Issuer match confirmed from the announcement on PDF page 1 (BMC Minerals Ltd., ASX:BMC, ARBN 647 860 124). Reviewed all seven pages, including both Appendix 3Y notices. The Appendix 3Y templates on pages 2 and 5 print 647 860 125; this conflicts with the issuer identity on page 1 and is treated as a template typo. Scott Donaldson and David Ellis both report the same 29,534,808-CDI disposal from BMC UK at $2.85/CDI, describe it as a sale by special crossings on ASX, and answer No to the closed-period question. The company notice confirms the single block completed on 2 July at A$2.85.","sha256":"65c0b0b0dc14cb6cc79001088ce5f09631c567aca80d7be4e351eca2fdb77fce","source_id":"2924-03105386-6A1331559","state":"reviewed","subject_name":"BMC Minerals Ltd. (ARBN 647 860 124)","subject_ticker":"BMC","title":"Change of Directors' Interest Notices","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03105386-6A1331559"},"2924-03107014-6A1332210":{"category":"holder_notice","collected_at":"2026-11-02T10:52:40.842885Z","page_count":5,"published_at_utc":"2026-07-02T04:04:50Z","relative_path":"2026/2026-07-02_Change in substantial holding_c931eb58afca6689.pdf","review_note":"Issuer match confirmed on PDF page 1. Reviewed all five pages; the July Form 604 reports 27,443,354 (9.99%) increasing to 30,704,117 (11.18%) by 30 June 2026. Page 3 contains two internal transfer rows (net zero to the group) and four on-market purchase rows totaling 3,260,763; the latter exactly reconciles the aggregate increase. The date for each purchase is given only as various dates between December 2025 and June 2026. The row parser could not read the table reliably; page 3 was manually transcribed and visually checked, and pages 4-5 were checked for current account positions and relationships.","sha256":"0a956e652d400232fb39c3e15c89c8f0b21588c9d5ff41a8c661497e661d1c58","source_id":"2924-03107014-6A1332210","state":"reviewed","subject_name":"BMC Minerals Ltd. (ARBN 647 860 124)","subject_ticker":"BMC","title":"Change in substantial holding","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03107014-6A1332210"},"2924-03107119-6A1332228":{"category":"holder_notice","collected_at":"2026-10-09T19:45:34.990305Z","page_count":4,"published_at_utc":"2026-07-02T06:30:00Z","relative_path":"2026/2026-07-02_Becoming a substantial holder_e4cf1247b980b3df.pdf","review_note":"Reviewed all four pages including Form 603 and Annexures A and B. L1 Capital became substantial on 30 June 2026; four registered-holder balances aggregate to 33,098,095 CDIs. Annexure B reports six on-market purchases with transaction-specific cash consideration from 5 March through 30 June 2026. The form labels the issuer \u201cBMC Materials Ltd\u201d but gives ARBN 647 860 124, consistent with BMC Minerals Ltd; treated as the target filing.","sha256":"a6bc702b8d2c2587855576df7769ff130d3bcb826919c60e6baa26dde2938bab","source_id":"2924-03107119-6A1332228","state":"reviewed","subject_name":"BMC Minerals Ltd","subject_ticker":"BMC","title":"Becoming a substantial holder","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03107119-6A1332228"},"2924-03107175-6A1332253":{"category":"holder_notice","collected_at":"2026-11-02T10:52:40.840927Z","page_count":1,"published_at_utc":"2026-07-02T07:38:40Z","relative_path":"2026/2026-07-02_Notice of Change of Substantial Holder_6fc9c2a39f4709ab.pdf","review_note":"Issuer match confirmed on PDF page 1. BMC UK's 2 July 2026 underwritten block trade sold 29,534,808 CDIs at A$2.85 each; reported position changed from 177,644,896 (64.68%) to 148,110,088 (53.93%). The directors' 30 June Appendix 3Y notices report the same disposal as a sale by special crossings on ASX; it is one underlying economic trade.","sha256":"5d4c7b8ba4fc245b0a8bee4a1baa6b54b2e541fcd303e4ccb7572254e8e8bb13","source_id":"2924-03107175-6A1332253","state":"reviewed","subject_name":"BMC Minerals Ltd. (ARBN 647 860 124)","subject_ticker":"BMC","title":"Notice of Change of Substantial Holder","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03107175-6A1332253"},"2924-03125105-6A1339937":{"category":"holder_notice","collected_at":"2026-10-09T19:45:34.982746Z","page_count":4,"published_at_utc":"2026-08-24T07:25:07Z","relative_path":"2026/2026-08-24_Change in substantial holding_23e628e00f5acfed.pdf","review_note":"Reviewed all four pages including Form 604 and Annexures A and B. L1 Capital reported two on-market purchases on 20 and 21 August 2026 and aggregate holdings of 41,032,365 FPO shares across four registered holders. No transaction-to-account allocation is disclosed. The form labels the issuer \u201cBMC Materials Ltd\u201d but gives ARBN 647 860 124, consistent with BMC Minerals Ltd; treated as the target filing.","sha256":"1d4c856c9260171e529b490573a82efcc0330a4fb88c82a10d8381964a19fc0f","source_id":"2924-03125105-6A1339937","state":"reviewed","subject_name":"BMC Minerals Ltd","subject_ticker":"BMC","title":"Change in substantial holding","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03125105-6A1339937"},"2924-03134530-6A1343378":{"category":"meeting_notice","collected_at":"2026-11-02T10:52:40.838958Z","page_count":27,"published_at_utc":"2026-09-11T02:46:08Z","relative_path":"2026/2026-09-11_Corporate Governance Statement and Appendix4G_01f0a26fdfb6c64c.pdf","review_note":"Issuer match confirmed. Reviewed the board roster on PDF page 3 and Securities Ownership and Dealing section 4.5 on page 11. The statement describes BMC's Securities Trading Policy and closed-period rules but contains no transaction-specific information or current holding values.","sha256":"13631e474fb0ea20845b7abbc8b94f30568373ce965ddf325f9d1b0e5a92d78c","source_id":"2924-03134530-6A1343378","state":"supporting","subject_name":"BMC Minerals Ltd. (ARBN 647 860 124)","subject_ticker":"BMC","title":"Corporate Governance Statement and Appendix4G","triage":{"classification":"relevant","reason":"Provides policy context for director dealing disclosures and their closed-period responses; it does not establish an individual trade or position.","views":["directors"]},"url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03134530-6A1343378"},"2924-03134531-6A1343379":{"category":"shareholder_list","collected_at":"2026-10-14T09:54:02.060499Z","page_count":148,"published_at_utc":"2026-09-11T02:46:13Z","relative_path":"2026/2026-09-11_Annual Report_65c590c66f0a87fa.pdf","review_note":"Issuer match confirmed. Reviewed PDF page 34 (director relevant interests), pages 108-109 (Security Holder Information and the 20 largest registered holders; information current as of 31 August 2026), including the substantial-holder table on page 109. The page-108 Tembo registered-holder row and page-109 Tembo-and-associates line both report 15,250,000, matching the 12 December 2025 Form 603 group position; this does not evidence an intervening trade. The director-interest table is an undated-as-to-day report-date snapshot, so no dated director observations are created from it. No transaction is inferred from the register.","sha256":"baa96e5e661f1e1e2a46252308e9133669b3f8e1ae557df1ca2d9eba36215d4a","source_id":"2924-03134531-6A1343379","state":"reviewed","subject_name":"BMC Minerals Ltd. (ARBN 647 860 124)","subject_ticker":"BMC","title":"Annual Report","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03134531-6A1343379"},"2924-03139920-6A1345703":{"category":"holder_notice","collected_at":"2026-11-02T10:52:40.825507Z","page_count":5,"published_at_utc":"2026-09-25T01:41:42Z","relative_path":"2026/2026-09-25_Change in substantial holding_e6f83472f5df75da.pdf","review_note":"Issuer match verified by ticker BMC and ARBN 647 860 124; the Form 604 page 1 issuer-name line contains \u201cBMC Materials Ltd.\u201d. The indexed PDF flagged visual_review_required and its transaction-row parser left one line unparsed. Retrieved the official BMC-hosted copy and visually reviewed pages 1, 3 and 4. Page 3 contains five purchase rows totaling 3,281,180; page 1 totals move from 30,704,117 to 33,985,297, an exact match. Four rows say \u201cVarious dates between June 2026 and Sept 2026\u201d; exact days are not disclosed. The AGM circular (separate supporting source) later confirms the group total as of 8 October.","sha256":"d3eb71a65b43fdbfe0d78a659cf4b01826c8dd330b280abb70f60b3f637ef222","source_id":"2924-03139920-6A1345703","state":"reviewed","subject_name":"BMC Minerals Ltd. (ARBN 647 860 124; notice text on the Forms 604 says \u201cBMC Materials Ltd.\u201d)","subject_ticker":"BMC","title":"Change in substantial holding","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03139920-6A1345703"},"2924-03140139-6A1345805":{"category":"holder_notice","collected_at":"2026-11-02T10:52:40.824410Z","page_count":4,"published_at_utc":"2026-09-25T07:00:38Z","relative_path":"2026/2026-09-25_Change in substantial holding_518b73d2f96b819c.pdf","review_note":"Issuer match verified by ASX:BMC and ARBN 647 860 124 (the form body also contains \u201cBMC Materials Ltd.\u201d). Read Form 604 page 1, Annexure A page 3 and Annexure B page 4. Parsed three on-market purchase rows on page 3; row quantities total 2,753,422, reconciling 41,032,365 to 43,785,787. Consideration amounts have a $ symbol but no currency is specified; no currency or price is inferred.","sha256":"f8781c5f41d332bc1025c6aa76b1af6e530669880df2b085e3858b96383aaa13","source_id":"2924-03140139-6A1345805","state":"reviewed","subject_name":"BMC Minerals Ltd. (ARBN 647 860 124; notice text on the Forms 604 says \u201cBMC Materials Ltd.\u201d)","subject_ticker":"BMC","title":"Change in substantial holding","url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03140139-6A1345805"},"2924-03148869-6A1349420":{"category":"meeting_notice","collected_at":"2026-11-02T10:52:40.820219Z","page_count":20,"published_at_utc":"2026-10-15T05:14:14Z","relative_path":"2026/2026-10-15_Notice of Annual General Meeting_Proxy Form_99710d391dfe0a7f.pdf","review_note":"Read the issuer\u2019s October 15 AGM circular on PDF pages 11-12. Page 11 sets 2026-10-08 as record date and reports 274,639,795 shares issued; page 12 lists only the three groups at or above 10%. No transactions are inferred from this position table.","sha256":"c1a8be57d5470b3a6feea9aa1c94e90c4c6041edaf41cc9f6051dd9ba0bdf437","source_id":"2924-03148869-6A1349420","state":"supporting","subject_name":"BMC Minerals Ltd. (ARBN 647 860 124; notice text on the Forms 604 says \u201cBMC Materials Ltd.\u201d)","subject_ticker":"BMC","title":"Notice of Annual General Meeting/Proxy Form","triage":{"classification":"relevant","reason":"Provides a later disclosed aggregate voting position for major-holder context, but is a meeting circular rather than a trade notice and does not report transactions.","views":["major_holders"]},"url":"https://asx.api.markitdigital.com/asx-research/1.0/file/2924-03148869-6A1349420"}},"status":"ready","summary":{"AUD":{"purchase_count":8,"purchases":81611441.34,"sale_count":3,"sales":129370700.0}},"ticker":"BMC","unresolved_count":0,"view":"major_holders","view_coverage":{"directors":{"basis":"declared","collection_issues":[],"coverage_start":"2023-01-01","explained_count":1,"material_issue_count":0,"minor_discrepancy_count":0,"newer_pending_count":0,"note":"All BMC director-interest notices in the stock-specific queue through the cutoff were reviewed: the seven initial Appendix 3X disclosures dated 12 December 2025 and the 30 June 2026 Appendix 3Y notices for Scott Donaldson and David Ellis. Their 29,534,808-CDI sale reports describe one BMC UK block trade completed 2 July 2026; each director's overlapping indirect interest is retained with the shared economic event ID. Initial option notices are position observations, not grant or exercise events.","notice_count":2,"pending_notice_count":0,"required_context_count":0,"reviewed_at":"2026-11-02T11:49:11Z","reviewed_notice_count":2,"reviewed_through":"2026-11-02","status":"complete","unclassified_note_count":0},"major_holders":{"basis":"declared","collection_issues":[],"coverage_start":"2023-01-01","explained_count":10,"material_issue_count":0,"minor_discrepancy_count":0,"newer_pending_count":0,"note":"All BMC substantial-holder notices in the stock-specific queue through the cutoff were reviewed, including initial Victor Smorgon and Tembo positions, the Orion block sales, the BMC UK July 2026 sell-down, and the Victor Smorgon January transfer and four purchase rows. The Annual Report register confirms Tembo and associates at 15,250,000 shares as of 31 August 2026; no intervening Tembo transaction is inferred. The latest previously reviewed L1/Victor holdings and 8 October AGM holder table remain preserved.","notice_count":11,"pending_notice_count":0,"required_context_count":0,"reviewed_at":"2026-11-02T11:49:11Z","reviewed_notice_count":11,"reviewed_through":"2026-11-02","status":"complete","unclassified_note_count":0}}}