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2026-11-06
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Austral Resources Australia Ltd

Producer · Copper · Australia Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.049
1D
—
1M
—
YTD
—
1Y
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Upside
Locked: sign in to view
Mkt cap
A$130.1M
EV
A$58.4M
Cash
A$71.7M
Debt
A$0
3 newer ASX announcements not yet reflected in this valuation

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash A$71.7M Unknown
Debt A$0 Net cash A$71.7M
Basic shares 2.7B 2026-07-30
Runway Unknown A$71.66m unrestricted and A$67.7m rehabilitation restricted cash at 30 June from the July quarterly. August half-year filing is listed but not independently extracted; the QIC A$15m follow-on commitment is excluded from bank cash until receipt is verified.

Liquidity

Financial position

The A$67.7m rehabilitation security is unavailable for operations; Q2 operating cash outflow and Rocklands restart spending create a funding test despite the reported A$71.66m bank cash.

Inventory composition1

The quarter-end Mt Kelly ROM stockpile contained approximately 1,208 tonnes of copper; carrying value was not disclosed in the reviewed release.

Mt Kelly ROM stockpile including former Anthill ore
— carrying · 74,000 tonnes containing about 1,208 tonnes copper

Capital structure

Ownership and dilution

Ordinary shares
2.7B
Fully diluted
2.7B

2,654,856,580 quoted ordinary shares at the 30 July Appendix 2A, plus 10,000,000 performance rights and 2,464,900 options. The August Hammer scheme remained conditional and no scheme consideration shares are counted.

Security classes2
ClassTypeQuantityStrikeExpiry
Unquoted performance rightsPerformance Right10M——
Options expiring 24 October 2027 exercisable at A$0.075Option2.5MA$0.0752027-10-24

KPI history

Operating metrics

1 periods
Operating metric source table4
MetricProjectPeriodPeriod typeValueStatus
ProductionMt Kelly Lady AnnieJune 2026 quarterQuarter1,796 tonnes copper cathodeReported
SalesMt Kelly Lady AnnieJune 2026 quarterQuarter1,800 tonnes copper cathodeReported
RevenueMt Kelly Lady AnnieJune 2026 quarterQuarter31,070,000 AUDReported
OtherCompanyJune 2026 quarterQuarter-10,890,000 AUDReported
Company guidance1
MetricProjectPeriodLowHighStatus
Copper Productionmt-kelly-lady-annieSeptember 2026 quarter1,8502,050 tonnesCurrent

Capital history

Capital events

2 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-07-30Ann. 2026-07-28Raising—159.8M—Completed—
2026-04-30Ann. 2026-02-16DebtA$21.5M——Completed—

Contracts and ownership

Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.

Partial · as of 2026-09-26

2025 annual report and binding Glencore documents establish current offtake, tolling and Lady Loretta royalty; QIC confirms a royalty structure but accessible primary sources omit the exact schedule.

Glencore buys all relevant Austral copper concentrate for life of tenements or plant; realized-price terms were not published.

Offtake · Active
Counterparties
Glencore
Applies to
Rocklands copper project and processing facility · Copper
Economic direction
Mixed
Period
From 2025-09-03; no end date stated
Key terms
Volume: 100 % of copper concentrate
Pricing: standard market terms adjusted for grade and metal
How it affects our valuation

No valuation treatment is available for this arrangement.

Austral grants Glencore spare Rocklands tolling capacity once the plant is recommissioned; no firm throughput was disclosed.

Tolling Or Processing · Active
Counterparties
Glencore
Applies to
Rocklands copper project and processing facility · Copper
Economic direction
Benefit
Period
From 2025-09-03; no end date stated
Key terms
Capacity: nameplate capacity less Austral integrated production tonnes per annum
Fee: market standard rate
How it affects our valuation

No valuation treatment is available for this arrangement.

An existing copper cathode offtake with Glencore is confirmed, but current pricing and committed volume were not disclosed in reviewed evidence.

Offtake · Active
Counterparties
Glencore
Applies to
Mt Kelly and Lady Annie copper operations · Copper
Economic direction
Mixed
Period
Dates not stated
How it affects our valuation

No valuation treatment is available for this arrangement.

Austral owes Glencore a 2.5% net-smelter-return royalty on Lady Loretta copper, distinct from the Rocklands QIC gross-revenue royalty.

Royalty · Active
Counterparties
Glencore
Applies to
Lady Loretta copper tenements · Copper
Economic direction
Burden
Period
From 2026-04-30; no end date stated
Key terms
NSR: 2.5 %
How it affects our valuation

No valuation treatment is available for this arrangement.

Austral agreed to a Glencore offtake for copper products derived from Lady Loretta; realized-price economics are undisclosed.

Offtake · Active
Counterparties
Glencore
Applies to
Lady Loretta copper tenements · Copper
Economic direction
Mixed
Period
From 2026-04-30; no end date stated
Key terms
Volume: all copper products
How it affects our valuation

No valuation treatment is available for this arrangement.

QIC committed A$15m as royalty financing for Rocklands expansion; the economic burden is reflected conservatively in risk-adjusted Rocklands value, without assuming an unsupported rate.

Royalty · Active
Counterparties
QIC Queensland Critical Minerals Fund
Applies to
Rocklands copper project and processing facility · Copper
Economic direction
Burden
Period
From 2026-08-07; no end date stated
Key terms
Funding commitment: 15,000,000 AUD
Royalty rate: — % of revenue
How it affects our valuation

No valuation treatment is available for this arrangement.

The Anthill Project Agreement was terminated after the June quarter; all residual obligations were extinguished and are not carried as a live valuation burden.

Other · Terminated
Counterparties
Glencore · Secover
Applies to
Mt Kelly and Lady Annie copper operations · Copper
Economic direction
Burden
Period
2025-09-03 to 2026-07-28
How it affects our valuation

This arrangement has ended; no current valuation treatment is required.