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- Last 2026-11-06
- A$0.475
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
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- Mkt cap
- A$317.8M
- EV
- A$290M
- Cash
- A$28M
- Debt
- A$0
1 newer ASX announcement not yet reflected in this valuation
- Application for quotation of securities - AZYPost Cash Checkpoint Security Event
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Sign in or enter a guest codeAnnouncements
Latest 12 of 8All sources ▸- Application for quotation of securities - AZYCorporate Action
- Change in substantial holdingOther
- Annual Report to shareholdersResults
- Quarterly Activities/Appendix 5B Cash Flow ReportOperations
- Quarterly Activities/Appendix 5B Cash Flow ReportOperations
- Quarterly Activities/Appendix 5B Cash Flow ReportOperations
- 2025 Annual ReportTransaction
- Minyari Scoping Study Update Confirms Development PotentialStudy
Event calendar · next 12 months
2 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| November2026 issuer target | Minyari Dome PFS completion and release | Study | Company Guided | High | Replaces old gold-only economics with costed gold-copper configuration; first major test of funding and construction assumptions. |
| 26November2026 at9:30amAWST | 2026 annual general meeting | Governance | Confirmed | Medium | Governance and remuneration decisions; meeting itself creates no operating value. |
Executive roster
As of 2026-10-30Background checks ▸Latest audited annual lists executive directors and CFO/company secretary; October AGM reconfirms Watson. No later departure found in issuer releases through cutoff.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Roger Mason | Managing Director and Chief Executive Officer | Executive Director · Chief Executive | 2011-04-01 | Annual Report to shareholders |
| Mark Rodda | Executive Chairperson | Executive Director | — | Annual Report to shareholders |
| Luke Watson | Chief Financial Officer · Company Secretary | Finance · Company Secretary | 2020-07-01 | Annual Report to shareholders · Notice of Annual General Meeting |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Minyari Dome development
AU
PFS Developer100% ownedGoldCopperSilverCobalt
100% economic interest through wholly owned Australian subsidiaries; no construction finance or reserve
- Study
- Scoping study
- Post-tax NPV (study prices, attributable)
- A$598.0md
- NPV restated at our deck (attributable)
- Locked
- IRR
- 46%s
- Initial capex (100%)
- A$306.3ms
- Capital intensity
- A$2,552/(oz/yr)d
- LoM AISC
- A$1,721/ozs
- Mine life
- 11.0 yrss
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Published study economicsIssuer or study metrics
NPVA$598M7% discount
IRR46%Published return
Initial capexA$306.3MPublished capital estimate
Operating cost1,721AUD/oz
October2024 study real price AUD3000/oz gold; NPV includes project capital and3.5% royalty, excludes corporate and financing costs. Accuracy±35%.
Resources & reserves3
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Indicated | 42M t | 1.61g/t Au;0.19%Cu;0.49g/t Ag;0.03%Co | Gold · Copper · Silver · Cobalt | 2026-04-02 |
| Mineral Resource | Inferred | 9M t | 1.25g/t Au;0.11%Cu;0.24g/t Ag;0.01%Co | Gold · Copper · Silver · Cobalt | 2026-04-02 |
| Mineral Resource | Total Indicated+Inferred | 51M t | 1.54g/t Au;0.17%Cu;0.44g/t Ag;0.03%Co | Gold · Copper · Silver · Cobalt | 2026-04-02 |
Milestones1
- Complete preferred-configuration PFS
Pending · High materiality
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Mining/environmental/heritage development approvals | Western Australia | Required | — | Yes |
Economic studies1
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| October2024 Gold-Focused Scoping Study | Scoping Study | Current | 2024-10-24 | Current published quantitative economics. PFS workstreams advanced but PFS not released; 3Mtpa CIL,11-year evaluation,1.321Moz Au. No reserve. |
Material
Regional satellite resource group
AU
Resource Stage100% ownedGoldCopperSilver
100%-owned satellite resources outside current gold-only study plan; inferred and subject to metallurgy, trucking and conversion
- Contained metal (attributable)
- 390.0k ozd
- Resource grade
- 0.69 g/td
- % Measured + Indicated
- —
- Resource tonnes
- 17.40 Mtd
- Our value per attrib. contained unit
- Locked
- Mining method
- Potential open pit
Resources & reserves3
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Inferred | 5M t | 0.70g/t Au | Gold · Copper · Silver | 2026-04-02 |
| Mineral Resource | Inferred | 1.2M t | 1.23g/t Au | Gold · Copper · Silver | 2026-04-02 |
| Mineral Resource | Inferred | 11.1M t | 0.64g/t Au;0.03%Cu;0.42g/t Ag | Gold · Copper · Silver | 2026-04-02 |
Milestones1
- Drill-test resource extensions and discovery targets
Pending · High materiality
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Funding runway is finite; annual report contains material going-concern uncertainty. Existing cash cannot fund standalone construction. October cash is unreported; valuation freezes a separately labelledA$4.023m interim cash-use estimate plus35k option proceeds.
Capital structure
Ownership and dilution
- Ordinary shares
- 669.1M
- Fully diluted
- 703.8M
579,542,891 at30June2025 +66,458,333 July2025 placement +208,334 October2025 placement +16,755,661 FY26 option exercises =662,965,219 at30June2026. Add6,079,067 September-quarter option exercises =669,044,286; add100,000 cutoff exercise =669,144,286. Outstanding options34,662,181; maximum existing FD703,806,467. Future raises modelled separately; no approved new AGM incentive securities included.
Security classes16
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Issued ordinary shares after cutoff option exercise | Ordinary Share | 669.1M | — | — |
| Unquoted option expiring2030-07-06, exercise AUD0 | Option | 3.5M | A$0 | 2030-07-06 |
| Unquoted option expiring2027-06-30, exercise AUD0.195 | Option | 1.6M | A$0.195 | 2027-06-30 |
| Unquoted option expiring2029-06-30, exercise AUD0.86 | Option | 3.9M | A$0.86 | 2029-06-30 |
| Unquoted option expiring2029-07-31, exercise AUD0.84 | Option | 750K | A$0.84 | 2029-07-31 |
| Unquoted option expiring2028-11-25, exercise AUD0.35 | Option | 4.6M | A$0.35 | 2028-11-25 |
| Unquoted option expiring2028-09-30, exercise AUD0.51 | Option | 3.3M | A$0.51 | 2028-09-30 |
| Unquoted option expiring2029-03-31, exercise AUD0.74 | Option | 500K | A$0.74 | 2029-03-31 |
| Unquoted option expiring2029-11-24, exercise AUD0.86 | Option | 5M | A$0.86 | 2029-11-24 |
| Unquoted option expiring2027-11-16, exercise AUD0.23 | Option | 4.8M | A$0.23 | 2027-11-16 |
| Unquoted option expiring2029-08-12, exercise AUD0.83 | Option | 600K | A$0.83 | 2029-08-12 |
| Unquoted option expiring2027-09-30, exercise AUD0.19 | Option | 300K | A$0.19 | 2027-09-30 |
| Unquoted option expiring2029-10-31, exercise AUD0.86 | Option | 350K | A$0.86 | 2029-10-31 |
| Unquoted option expiring2026-11-10, exercise AUD0.36 | Option | 4.8M | A$0.36 | 2026-11-10 |
| Unquoted option expiring2027-07-31, exercise AUD0.265 | Option | 100K | A$0.265 | 2027-07-31 |
| Unquoted option expiring2029-11-30, exercise AUD0.95 | Option | 500K | A$0.95 | 2029-11-30 |
Actuals and forecasts
Financial statements
| AUD | Unit | Trend | FY2025AA | FY2026AA |
|---|---|---|---|---|
| Operations | ||||
| Gold recovered | oz | 0.00 | 0.00 | |
| Ore processed | t | 0.00 | 0.00 | |
| Profit and loss | ||||
| Gold sales revenue | AUDm | 0.0 | 0.0 | |
| Other income excluding interest | AUDm | 0.9 | 0.2 | |
| Mining and processing cash cost | AUDm | 0.0 | 0.0 | |
| Gold royalties | AUDm | 0.0 | 0.0 | |
| Corporate and employee cash cost | AUDm | 3.3 | 4.6 | |
| Share based compensation expense | AUDm | 1.4 | 3.7 | |
| JV disposal exceptional charge | AUDm | 2.4 | 0.0 | |
| Costs net of other income | AUDm | 6.3 | 8.0 | |
| Normalized cash EBITDA proxy | AUDm | (6.3) | (8.0) | |
| D&A proxy | AUDm | 0.1 | 0.2 | |
| Net interest income | AUDm | 1.0 | 2.2 | |
| Cash income tax | AUDm | 0.0 | 0.0 | |
| NPAT proxy | AUDm | (5.3) | (5.9) | |
| Cash flow | ||||
| Operating cash flow before exploration | AUDm | (2.0) | (1.8) | |
| Exploration and study capital | AUDm | 9.5 | 36.5 | |
| Mine sustaining capital | AUDm | 0.0 | 0.0 | |
| Growth capital and equipment | AUDm | 0.0 | 0.3 | |
| Total capital cash outflow | AUDm | 9.5 | 36.8 | |
| Corporate free cash flow | AUDm | (11.5) | (38.6) | |
| Equity cash contributions | AUDm | 22.7 | 41.2 | |
| Balance sheet | ||||
| Projected cash | AUDm | 36.5 | 39.1 | |
| Interest bearing debt | AUDm | 0.0 | 0.0 | |
| Net debt / (cash) | AUDm | (36.5) | (39.1) | |
| Per share | ||||
| Diluted pro forma shares | m shares | 579.5 | 663.0 | |
| NPAT per share | AUD/share | (0.01) | (0.01) | |
| Dividend per share | AUD/share | 0.00 | 0.00 | |
| Multiples and ratios | ||||
| EV / EBITDA (x, current EV) | x | (45.7) | (35.7) | |
| P / E (x, current market cap) | x | (58.9) | (52.9) | |
| FCF yield (current market cap) | % | -3.7% | -12.3% | |
| EBITDA margin | % | — | — | |
| Net debt / EBITDA (x) | x | 5.8 | 4.9 | |
KPI history
Operating metrics
Operating metric source table19
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Total continuing income (interest and other) | Company | FY2025 | Year | 1,905,993 AUD | Reported |
| Statutory NPAT | Company | FY2025 | Year | -5,343,349 AUD | Reported |
| Operating cash flow | Company | FY2025 | Year | -2,022,431 AUD | Reported |
| Capitalised exploration and PP&E cash payments | Company | FY2025 | Year | 9,488,491 AUD | Reported |
| Cash | Company | FY2025 | Point In Time | 36,482,365 AUD | Reported |
| Book equity | Company | FY2025 | Point In Time | 98,253,211 AUD | Reported |
| Ordinary shares | Company | FY2025 | Point In Time | 579,542,891 shares | Reported |
| Total continuing income (interest and other) | Company | FY2026 | Year | 2,459,266 AUD | Reported |
| Statutory NPAT | Company | FY2026 | Year | -5,945,295 AUD | Reported |
| Operating cash flow | Company | FY2026 | Year | -1,789,135 AUD | Reported |
| Capitalised exploration and PP&E cash payments | Company | FY2026 | Year | 36,771,339 AUD | Reported |
| Cash | Company | FY2026 | Point In Time | 39,145,760 AUD | Reported |
| Book equity | Company | FY2026 | Point In Time | 137,243,996 AUD | Reported |
| Ordinary shares | Company | FY2026 | Point In Time | 662,965,219 shares | Reported |
| Cash at September quarter end | Company | 30 September2026 | Point In Time | 28,013,000 AUD | Reported |
| Quarter cash used before financing | Company | September2026 quarter | Quarter | 12,336,000 AUD | Source Derived |
| Cash and cash equivalents | Company | 2025-09-30 | Point In Time | 61,431,000 AUD | Reported |
| Cash and cash equivalents | Company | 2025-12-31 | Point In Time | 51,174,000 AUD | Reported |
| Cash and cash equivalents | Company | 2026-03-31 | Point In Time | 47,675,000 AUD | Reported |
Company guidance2
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Life Of Mine Gold Output (Study Target) | minyari_project | 2024scoping11-yearcase | 1,321,000 | 1,321,000 oz | Current |
| Plant Throughput Capacity (Study) | minyari_project | 2024study | 3,000,000 | 3,000,000 t/yr | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-10-30 | Raising | A$35K | 100K | — | Completed | — |
| 2025-10-01Ann. 2025-07-07 | Raising | A$40M | 66.7M | — | 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.
Audited annual and original study provide live royalty/access terms and terminated JV/farm-ins. Latest quarterly confirms processing choice but no signed offtake, hedge, tolling or construction facility identified. Detailed private royalty and future mining access terms remain gaps.
Current October2026 JORC tenure disclosure names International Royalty Corporation as1%NSR payee on non-uranium metals of E45/3918 and3919. Same1% burden modelled within3.5% combined state/private gold rate; older study called it Sandstorm. No duplicate royalty deducted.
Royalty · Active- Counterparties
- International Royalty Corporation (Sandstorm named in2024study)
- Applies to
- Minyari Dome development · Gold · Copper · Silver
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- NSR: 1 pct
How it affects our valuation
No valuation treatment is available for this arrangement.
Access framework for exploration at North Telfer; no undisclosed cash royalty assumed. Future mine agreement and heritage costs remain approval/funding risks, not proof of a free development right.
Other · Active- Counterparties
- Jamukurnu-Yapalikunu Aboriginal Corporation
- Applies to
- Minyari Dome development · Gold · Copper · Silver
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Exploration agreement date: 2015-07-26 date
How it affects our valuation
No valuation treatment is available for this arrangement.
IGO withdrew effective30April2025 without earning ownership; Antipa retains100%; no future partner expenditure credited.
Farm In · Terminated- Counterparties
- IGO Limited
- Applies to
- Minyari Dome development · Regional satellite resource group · Gold · Copper · Silver
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Historical expenditure: 15,000,000 AUD
How it affects our valuation
This arrangement has ended; no current valuation treatment is required.
Wilki farm-in withdrew effective3March2025;100% Antipa. Strategic shareholding is not ownership of project cash flows.
Farm In · Terminated- Counterparties
- Newmont
- Applies to
- Regional satellite resource group · Gold · Copper · Silver
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Historical expenditure: 12,000,000 AUD
How it affects our valuation
This arrangement has ended; no current valuation treatment is required.
Former32%Citadel interest disposed forA$17m cash; parties released from obligations. No surviving asset value and no second addition of historical proceeds.
Joint Venture · Terminated- Counterparties
- Rio Tinto
- Applies to
- Company-wide · Gold · Copper · Silver
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Cash proceeds: 17,000,000 AUD
How it affects our valuation
This arrangement has ended; no current valuation treatment is required.
Burden lies on specified regional licences outside the gold-only study schedule; no gross new discovery value credited free of royalty. Retained qualitatively in low satellite calibration, no second cash-flow charge.
Royalty · Active- Counterparties
- Newcrest Operations Ltd (Greatland subsidiary)
- Applies to
- Company-wide · Gold · Copper · Silver
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- NSR: 1.5 pct
How it affects our valuation
No valuation treatment is available for this arrangement.
Paladin subsidiary owns uranium rights on core licences; no uranium resources or uranium optionality assigned to Antipa. No fabrication of uranium economic interest.
Other · Active- Counterparties
- North Gascoyne Mining Pty Ltd (Paladin Energy subsidiary)
- Applies to
- Company-wide · Uranium
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- Uranium rights: Third-party owned text
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
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Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
The three V8-rostered executives have legal, exploration and listed-company finance backgrounds. Under their overlapping tenure Antipa expanded its disclosed resources and completed a A$17m Citadel sale, but Minyari remains pre-production and the PFS release was expected in November 2026. The FY2026 audited financial report again identified material going-concern uncertainty; cash was A$28.013m at 30 September 2026. In a prior non-executive chair role, Rodda oversaw Coalspur during a funding shortfall followed by a sale. These are company-level events; personal causation is not established.
Decision-relevant facts
Material summary
Mark Rodda
Executive Chairperson
Company SuccessIssuer Reported · Medium materiality
Antipa resource and funding progress during executive tenure
While Rodda was an executive director and later chair, Antipa completed a A$17m Citadel interest sale, reported a A$51.2m cash balance at 31 December 2025, and grew its total resource to 2.9 Moz gold / 3.6 Moz AuEq by April 2026. These are company outcomes; no source establishes Rodda as the individual cause.
Role overlaps event; causation unproven · Executive director/chair oversight overlapped these events; transaction agreement pre-dated his chair appointment, and no individual attribution is established for the resource estimate.
Citadel Joint Venture Interest Sale Completes · pp. 1-2; transaction and cash proceeds
Interim Financial Report for the half-year ended 31 December 2025 · pp. 21-22; A$51.17m cash at 31 Dec 2025
Minyari Project Resource Grows to 3.6 Moz Gold Equivalent · pp. 1-2; resource estimate
Role FitAnalyst Inference · Medium materiality
Relevant chair experience with limited personal attribution
Given Rodda’s stated legal/commercial career, General Counsel role at LionOre and Antipa executive-chair appointment, his background is relevant to company legal, transaction and governance oversight. This is an analyst inference; quantified personal delivery and independent credential verification are limited.
Responsibility not applicable · Inference based on the cited biography and role history; it does not assign individual responsibility for employer outcomes.
Annual Report for the year ended 30 June 2024 · p. 5; biography and qualifications
Appointment of Mark Rodda as Executive Chair · p. 1; chair appointment
Directors & Management · lines 30-34; current role
Company SuccessIssuer Reported · Medium materiality
LionOre takeover during General Counsel tenure
Antipa’s annual report states Rodda was LionOre General Counsel and Corporate Secretary before Norilsk Nickel’s takeover for more than US$6bn. This establishes role overlap with a substantial transaction, not Rodda’s personal causal contribution.
Role overlaps event; causation unproven · General Counsel and Corporate Secretary role overlapped the takeover; no source reviewed assigns him individual deal leadership or outcome.
Annual Report for the year ended 30 June 2024 · p. 5; biography and takeover disclosure
FailureDocumented · High materiality
Coalspur funding shortfall and sale during chair tenure
Coalspur rejected a US$175m final senior facility as insufficient to fund construction of Vista; repayment of its existing facility accelerated, with a later extension tied to a proposed transaction. Coalspur’s board recommended a sale and in June 2015 its shareholders received A$0.023 per share under the completed scheme. The board’s decision followed a strategic review in a challenging funding market; this is a company financing setback, not an established finding of personal misconduct.
Role overlaps event; causation unproven · Rodda was non-executive chair from July 2014 and signed the scheme booklet; the reviewed sources do not establish that he personally caused the funding shortfall.
Annual Financial Report year ended 31 December 2014 · p.19, Financial Condition and Liquidity; funding package and repayment
Coalspur scheme booklet · pp.4-5 and p.30; chair letter, strategic review, identity and tenure
Coalspur Announces Implementation of Scheme of Arrangement · scheme implementation and A$0.023 consideration
Evidence gaps · 5
- Issuer disclosures do not establish Rodda’s personal responsibility for LionOre’s takeover, Coalspur project outcomes, Citadel sale negotiations or Antipa resource growth.
- No independent BA/LLB registry verification, exhaustive litigation/court search, criminal or sanctions check, employment reference, or complete safety/environment enforcement check was performed; no clean/clearance conclusion is made.
- Coalspur financing documents do not isolate Rodda’s personal contribution to financing decisions; the report does not assess total shareholder returns over a defined holding period.
- Historical search entries were inherited without an independently verifiable audit trail. Refresh searches were targeted and limited; material former-employer and regulator records have not been exhaustively reviewed.
- A same-named Tamworth councillor appeared in general search results; the records reviewed did not establish that this is the Antipa executive, so those results were not attributed to him.
Roger Mason
Managing Director and Chief Executive Officer
Company SuccessIssuer Reported · High materiality
Long-tenure resource discovery and growth
Antipa reports Mason has been MD/CEO since its 2011 ASX listing. The company’s 2 April 2026 release reported 2.9 Moz gold / 3.6 Moz AuEq across Minyari and satellite resources, including a 2.5 Moz gold Minyari Dome resource. Mason publicly commented on the estimate. Resource estimation was prepared by Snowden Optiro and Antipa’s competent persons; no source reviewed quantifies Mason’s personal contribution to the work.
Role overlaps event; causation unproven · CEO tenure overlaps company discovery and resource growth. Technical responsibility is attributed in the release to competent persons/consultants, so CEO causation is not assumed.
Annual Report for the year ended 30 June 2024 · p. 5; tenure and issuer-claimed resource history
Minyari Project Resource Grows to 3.6 Moz Gold Equivalent · pp. 1-2 and pp. 20-22; estimate and competent person
Interim Financial Report for the half-year ended 31 December 2025 · pp. 12-20; exploration programme and discoveries
Company SuccessIssuer Reported · Medium materiality
Completed A$17m portfolio sale
Antipa completed sale of its non-controlling Citadel JV stake to Rio Tinto for A$17m in October 2024, increasing cash reserves to more than A$23m. Mason was quoted as MD about the transaction; the company does not identify him as sole decision-maker or establish personal causal responsibility.
Role overlaps event; causation unproven · As Managing Director, Mason’s tenure and public representation overlapped transaction completion; the sale was a board/company decision and personal causation is not isolated.
Citadel Joint Venture Interest Sale Completes · pp. 1-2; sale completion and MD comment
FailureIssuer Reported · Medium materiality
PFS timing extended after completed option studies
On 22 September 2026 Antipa reported that option studies had been completed and the PFS timing had extended, with release expected in November 2026. No failed project or production shortfall can yet be measured because Minyari remains pre-production.
Role overlaps event; causation unproven · As CEO, Mason is accountable for project scheduling at a high level; the issuer attributes the extension to detailed comparison and optimization work, not misconduct or individual negligence.
Minyari PFS Option Studies Update: Optimal Processing and Mine Scheduling Configuration Defined · pp. 1-2; workstreams completed and PFS timing
Role FitAnalyst Inference · Medium materiality
Strong geology and exploration fit; mine delivery remains unproven
Mason’s long geology, exploration and project-development experience and role as CEO since 2011 fit Antipa’s explorer/PFS stage. This is an analyst inference. The company has not yet demonstrated a producing mine under his Antipa tenure.
Responsibility not applicable · Inference from career and current project stage; it does not imply that exploration success equals operating delivery.
Annual Report for the year ended 30 June 2024 · p. 5; career and qualifications
Interim Financial Report for the half-year ended 31 December 2025 · p. 4; company’s exploration status
Evidence gaps · 4
- Resource growth is established at company level, but technical estimates identify named competent persons/consultants and do not quantify Mason’s individual causal contribution. No operating production or commissioning result under his Antipa tenure exists in the materials reviewed.
- University and AusIMM credentials were not independently verified. Public web searches are not an exhaustive court, criminal, sanctions, employment, safety or environmental check; no clearance conclusion is made.
- Exact CEO appointment date is not established; the issuer states he served in the role since its April 2011 listing.
- Historical search entries were inherited without an independently verifiable audit trail. Refresh searches were targeted and limited; material former-employer and regulator records have not been exhaustively reviewed.
Luke Watson
Chief Financial Officer and Company Secretary
Company SuccessIssuer Reported · Medium materiality
Mantra acquisition during CFO/Company Secretary tenure
Issuer annual reports state Watson served as Mantra CFO and Company Secretary from its A$6m IPO through its approximately A$1bn ARMZ acquisition in 2011. No source reviewed attributes the transaction’s terms or outcome personally to Watson.
Role overlaps event; causation unproven · The finance/company-secretarial role overlapped the IPO-to-acquisition period; no personal causal claim is established.
Annual Report for the year ended 30 June 2024 · printed p. 7 (physical p. 9); Mantra tenure and acquisition
Annual Report for the year ended 30 June 2024 · printed p. 7 (physical p. 9); company-secretary/finance career
FailureDocumented · High materiality
Renewed material going-concern uncertainty in FY2026
Antipa disclosed material uncertainty over going concern in its 2024 financial report. Capital proceeds subsequently raised cash to A$51.17m at December 2025, but the FY2026 audited report again stated a material going-concern uncertainty dependent on managing capital and raising funds if required; BDO’s audit opinion was not modified on this issue. Antipa reported A$39.15m cash at 30 June 2026 and A$28.013m at 30 September 2026. This describes company financing risk, not a personal misconduct finding.
Role overlaps event; causation unproven · Watson held the CFO role throughout these periods; no evidence reviewed establishes personal causation of funding uncertainty or the later cash movements.
Annual Report for the year ended 30 June 2024 · printed pp. 7-8 and p. 47 (physical p. 49); risk and material uncertainty
Citadel Joint Venture Interest Sale Completes · p. 1; cash sale proceeds
Interim Financial Report for the half-year ended 31 December 2025 · pp. 21-22 and p. 31; placement, liquidity and going concern
Interim Financial Report for the half-year ended 31 December 2025 · pp. 23-25; BDO review conclusion
2026 Annual Report · printed p.54 auditor report; p.62 Note 2 going concern; physically inspected pp.56,64
Quarterly Activities and Cashflow Report September 2026 · physical pp.25-27; appendix 5B cash and funding facilities, visually inspected
Role FitAnalyst Inference · Medium materiality
Relevant finance and listed-company secretarial experience
Watson’s CA and company-secretarial experience, tenure at Mantra and Antipa, and prior listed resources-sector roles are relevant to CFO/secretarial duties. This is an analyst inference; individual results and dated records for some prior roles are limited.
Responsibility not applicable · Inference from issuer-stated roles and qualifications; no personal attribution for company-level resource or capital-market outcomes.
Annual Report for the year ended 30 June 2024 · printed p. 7 (physical p. 9); career and qualifications
Appointment of CFO and Company Secretary · p. 1; appointment and prior roles
Interim Financial Report for the half-year ended 31 December 2025 · pp. 21-25; financial reporting
Evidence gaps · 4
- Issuer records do not give exact employer-specific dates for Watson’s OreCorp/OmegaCorp roles or name the international accounting firm; BBus awarding institution and CA/GIA/FINSIA register status were not independently checked.
- The FY2024 funding uncertainty overlapped Watson’s CFO tenure, but public records reviewed do not attribute it personally; subsequent capital raising and liquidity are company-level outcomes. No exhaustive litigation, court, criminal, sanctions, employment, safety or environmental check was performed.
- The CFO/secretary commencement date is not established: the annual report says July 2020, while the appointment was announced on 3 August 2020.
- Historical search entries were inherited without an independently verifiable audit trail. Refresh searches were targeted and limited; material former-employer and regulator records have not been exhaustively reviewed.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-09-04 · 669,044,286 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 33.74% | 225,764,125 | |
| 2 | 6.54% | 43,733,978 | |
| 3 | 3.59% | 24,000,000 | |
| 4 | 2.81% | 18,796,434 | |
| 5 | 2.74% | 18,359,808 | |
| 6 | 2.57% | 17,195,402 | |
| 7 | 1.78% | 11,890,900 | |
| 8 | 1.01% | 6,782,339 | |
| 9 | 0.83% | 5,547,944 | |
| 10 | 0.59% | 3,940,377 | |
| 11 | 0.57% | 3,800,000 | |
| 12 | 0.47% | 3,146,756 | |
| 13 | 0.47% | 3,130,000 | |
| 14 | 0.46% | 3,075,595 | |
| 15 | 0.46% | 3,053,126 | |
| 16 | 0.45% | 3,026,244 | |
| 17 | 0.45% | 3,000,000 | |
| 18 | 0.45% | 3,000,000 | |
| 19 | 0.44% | 2,930,865 | |
| 20 | 0.42% | 2,838,460 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- The ranked table lists registered accounts, not a complete or live beneficial-owner register. Nominee and custodian accounts may represent multiple investors.
- Later substantial-holder notices and capital changes after the register date have not been exhaustively reconciled in this batch snapshot.
Sources
- Annual Report to shareholders
Antipa Minerals Limited / ASX · Published 2026-09-18 · Accessed 2026-10-09
Top-20 registered holder table, ordinary-share/CDI account names, quantities and disclosed percentages.
2026/2026-09-18_Annual Report to shareholders_2924-03136750-6A1344309.pdf; PDF page 106, Additional Shareholder Information
Disclosed activity
Insider transactions
Trading activity51 buys · 10 sells shownNet cash last 12 months A$22.7mShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-10-01 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-10-01October aggregate restricted to the 1 October change date stated on the form. As disclosed: Oct-26: purchase of 350,000 shares for A$187,455.98
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ | PurchaseOrdinary Shares | 350,000 | AUD 187,455.98 | AUD 0.535589Calculated average | — |
| 2026-09-01to 2026-09-30 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-09-01As disclosed: Sep-26: purchase of 3,750,000 shares for A$2,191,553.16
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ | PurchaseOrdinary Shares | 3,750,000 | AUD 2,191,553.16 | AUD 0.584414Calculated average | — |
| 2026-08-06to 2026-08-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-08-06August aggregate restricted to the period after the 6 August prior notice; exact dates not disclosed. Start includes the prior notice date because its timing within that day is not stated. As disclosed: Aug-26: purchase of 3,749,995 shares for A$2,372,998.99
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ | PurchaseOrdinary Shares | 3,749,995 | AUD 2,372,998.99 | AUD 0.632801Calculated average | — |
| 2026-08-01to 2026-08-06 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-08-01Monthly aggregate restricted to period after the 2026-06-25 prior notice through the 2026-08-06 change date; individual trade dates are not stated. As disclosed: 2026-08 purchase, 350,000 ordinary shares, $196,826.47
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 350,000 | AUD 196,826.47 | AUD 0.562361Calculated average | — |
| 2026-07-01to 2026-07-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-07-01Monthly aggregate; exact date and direction are unresolved. As disclosed: Jul-26; volume 100,000; value $53,340.00; average price -$0.533.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Otherordinary shares | 100,000 | —Not Disclosed | — | — |
| 2026-07-01to 2026-07-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-07-01Monthly aggregate restricted to period after the 2026-06-25 prior notice through the 2026-08-06 change date; individual trade dates are not stated. As disclosed: 2026-07 purchase, 5,038,126 ordinary shares, $2,882,134.07
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 5,038,126 | AUD 2,882,134.07 | AUD 0.572065Calculated average | — |
| 2026-06-25to 2026-06-30 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-06-25Monthly aggregate restricted to period after the 2026-06-25 prior notice through the 2026-08-06 change date; individual trade dates are not stated. Start includes the prior notice date because its timing within that day is not stated. As disclosed: 2026-06 purchase, 1,554,591 ordinary shares, $873,521.64
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 1,554,591 | AUD 873,521.64 | AUD 0.561898Calculated average | — |
| 2026-06-01to 2026-06-03 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-06-01Monthly aggregate restricted to period after the 13 March prior notice through the 3 June change date; individual trade dates are not stated. As disclosed: 2026-06 purchase, 1,300,000 ordinary shares, $835,577.29
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 1,300,000 | AUD 835,577.29 | AUD 0.642752Calculated average | — |
| 2026-05-01to 2026-05-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-05-01Monthly aggregate restricted to period after the 13 March prior notice through the 3 June change date; individual trade dates are not stated. As disclosed: 2026-05 purchase, 4,257,288 ordinary shares, $2,798,368.40
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 4,257,288 | AUD 2,798,368.40 | AUD 0.657312Calculated average | — |
| 2026-04-01to 2026-04-30 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-04-01Monthly aggregate restricted to period after the 13 March prior notice through the 3 June change date; individual trade dates are not stated. As disclosed: 2026-04 purchase, 3,900,000 ordinary shares, $2,507,408.80
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 3,900,000 | AUD 2,507,408.80 | AUD 0.642925Calculated average | — |
| 2026-03-13to 2026-03-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-03-13Monthly aggregate restricted to period after the 13 March prior notice through the 3 June change date; individual trade dates are not stated. Start includes the prior notice date because its timing within that day is not stated. As disclosed: 2026-03 sale, 5,000,000 ordinary shares, $2,893,620.00
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Saleordinary shares | 5,000,000 | AUD 2,893,620.00 | AUD 0.578724Calculated average | — |
| 2026-03-13to 2026-03-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-03-13Monthly aggregate restricted to period after the 13 March prior notice through the 3 June change date; individual trade dates are not stated. Start includes the prior notice date because its timing within that day is not stated. As disclosed: 2026-03 purchase, 3,400,000 ordinary shares, $1,850,198.53
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 3,400,000 | AUD 1,850,198.53 | AUD 0.544176Calculated average | — |
| 2026-01-01to 2026-01-15 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2026-01-01Monthly aggregate restricted to period after the 2025-12-18 prior notice through the 2026-01-15 change date; individual trade dates are not stated. As disclosed: 2026-01 purchase, 4,724,992 ordinary shares, $2,933,251.11
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 4,724,992 | AUD 2,933,251.11 | AUD 0.620795Calculated average | — |
| 2025-12-18to 2025-12-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-12-18Monthly aggregate restricted to period after the 2025-12-18 prior notice through the 2026-01-15 change date; individual trade dates are not stated. Start includes the prior notice date because its timing within that day is not stated. As disclosed: 2025-12 purchase, 2,775,008 ordinary shares, $1,659,397.59
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 2,775,008 | AUD 1,659,397.59 | AUD 0.597979Calculated average | — |
| 2025-12-01to 2025-12-18 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-12-01Monthly aggregate restricted to period after the 2025-11-13 prior notice through the 2025-12-18 change date; individual trade dates are not stated. As disclosed: 2025-12 purchase, 4,800,000 ordinary shares, $2,724,989.95
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 4,800,000 | AUD 2,724,989.95 | AUD 0.567706Calculated average | — |
| 2025-11-13to 2025-11-30 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-11-13Monthly aggregate restricted to period after the 2025-11-13 prior notice through the 2025-12-18 change date; individual trade dates are not stated. Start includes the prior notice date because its timing within that day is not stated. As disclosed: 2025-11 purchase, 2,700,000 ordinary shares, $1,584,873.64
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 2,700,000 | AUD 1,584,873.64 | AUD 0.58699Calculated average | — |
| 2025-11-01to 2025-11-13 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-11-01Monthly aggregate restricted to period after the 2025-10-29 prior notice through the 2025-11-13 change date; individual trade dates are not stated. As disclosed: 2025-11 purchase, 5,750,000 ordinary shares, $3,190,577.27
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 5,750,000 | AUD 3,190,577.27 | AUD 0.554883Calculated average | — |
| 2025-10-29to 2025-10-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-10-29Monthly aggregate restricted to period after the 2025-10-29 prior notice through the 2025-11-13 change date; individual trade dates are not stated. Start includes the prior notice date because its timing within that day is not stated. As disclosed: 2025-10 purchase, 1,000,000 ordinary shares, $562,818.42
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 1,000,000 | AUD 562,818.42 | AUD 0.562818Calculated average | — |
| 2025-10-06to 2025-10-29 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-10-06Monthly aggregate restricted to period after the 2025-10-06 prior notice through the 2025-10-29 change date; individual trade dates are not stated. Start includes the prior notice date because its timing within that day is not stated. As disclosed: 2025-10 purchase, 9,000,000 ordinary shares, $5,526,970.60
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 9,000,000 | AUD 5,526,970.60 | AUD 0.614108Calculated average | — |
| 2025-10-01to 2025-10-06 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-10-01Monthly aggregate restricted to period after the 14 August prior notice through the 6 October change date; individual trade dates are not stated. As disclosed: 2025-10 purchase, 2,750,000 ordinary shares, $1,845,973.90
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 2,750,000 | AUD 1,845,973.90 | AUD 0.671263Calculated average | — |
| 2025-09-01to 2025-09-30 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-09-01Monthly aggregate restricted to period after the 14 August prior notice through the 6 October change date; individual trade dates are not stated. As disclosed: 2025-09 purchase, 2,245,000 ordinary shares, $1,485,320.88
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 2,245,000 | AUD 1,485,320.88 | AUD 0.661613Calculated average | — |
| 2025-09-01to 2025-09-30 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-09-01Monthly aggregate restricted to period after the 14 August prior notice through the 6 October change date; individual trade dates are not stated. As disclosed: 2025-09 sale, 45,000 ordinary shares, $31,430.70
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Saleordinary shares | 45,000 | AUD 31,430.70 | AUD 0.69846Calculated average | — |
| 2025-08-14to 2025-08-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-08-14Monthly aggregate restricted to period after the 14 August prior notice through the 6 October change date; individual trade dates are not stated. Start includes the prior notice date because its timing within that day is not stated. As disclosed: 2025-08 purchase, 3,100,000 ordinary shares, $1,808,476.31
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 3,100,000 | AUD 1,808,476.31 | AUD 0.583379Calculated average | — |
| 2025-08-01to 2025-08-14 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-08-01Monthly aggregate restricted to period after the 6 May prior notice through the 14 August change date; individual transaction dates are not stated. As disclosed: 2025-08 purchase, 3,450,000 ordinary shares, $1,895,338.20
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 3,450,000 | AUD 1,895,338.20 | AUD 0.549373Calculated average | — |
| 2025-07-01to 2025-07-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-07-01Monthly aggregate restricted to period after the 6 May prior notice through the 14 August change date; individual transaction dates are not stated. As disclosed: 2025-07 purchase, 9,750,000 ordinary shares, $5,567,279.22
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 9,750,000 | AUD 5,567,279.22 | AUD 0.571003Calculated average | — |
| 2025-06-01to 2025-06-30 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-06-01Monthly aggregate restricted to period after the 6 May prior notice through the 14 August change date; individual transaction dates are not stated. As disclosed: 2025-06 sale, 5,550,000 ordinary shares, $4,186,272.39
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Saleordinary shares | 5,550,000 | AUD 4,186,272.39 | AUD 0.754283Calculated average | — |
| 2025-06-01to 2025-06-30 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-06-01Monthly aggregate restricted to period after the 6 May prior notice through the 14 August change date; individual transaction dates are not stated. As disclosed: 2025-06 purchase, 3,200,000 ordinary shares, $2,210,138.49
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 3,200,000 | AUD 2,210,138.49 | AUD 0.690668Calculated average | — |
| 2025-06-17 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-06-17Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 17/06/2025: 1,207,101 shares; $975,825.28 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 1,207,101 | AUD 975,825.28 | AUD 0.808404Calculated average | — |
| 2025-06-16 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-06-16Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 16/06/2025: 1,730,001 shares; $1,370,672.78 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 1,730,001 | AUD 1,370,672.78 | AUD 0.792296Calculated average | — |
| 2025-06-13 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-06-13Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 13/06/2025: 2,100,000 shares; $1,686,933.05 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 2,100,000 | AUD 1,686,933.05 | AUD 0.803301Calculated average | — |
| 2025-06-12 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-06-12Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 12/06/2025: 1,350,000 shares; $1,015,977.74 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 1,350,000 | AUD 1,015,977.74 | AUD 0.752576Calculated average | — |
| 2025-06-11 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-06-11Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 11/06/2025: 2,000,000 shares; $1,470,334.80 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 2,000,000 | AUD 1,470,334.80 | AUD 0.735167Calculated average | — |
| 2025-06-10 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-06-10Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 10/06/2025: 1,150,000 shares; $854,301.94 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 1,150,000 | AUD 854,301.94 | AUD 0.742871Calculated average | — |
| 2025-06-06 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-06-06Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 06/06/2025: 1,707,800 shares; $1,233,818.98 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 1,707,800 | AUD 1,233,818.98 | AUD 0.722461Calculated average | — |
| 2025-06-05 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-06-05Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 05/06/2025: 1,220,000 shares; $823,301.45 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 1,220,000 | AUD 823,301.45 | AUD 0.674837Calculated average | — |
| 2025-06-04 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-06-04Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 04/06/2025: 600,000 shares; $384,972.39 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 600,000 | AUD 384,972.39 | AUD 0.641621Calculated average | — |
| 2025-06-02 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-06-02Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 02/06/2025: 625,000 shares; $397,636.22 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 625,000 | AUD 397,636.22 | AUD 0.636218Calculated average | — |
| 2025-05-06to 2025-05-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-05-06Monthly aggregate restricted to period after the 6 May prior notice through the 14 August change date; individual transaction dates are not stated. Start includes the prior notice date because its timing within that day is not stated. As disclosed: 2025-05 sale, 2,050,000 ordinary shares, $1,334,682.23
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Saleordinary shares | 2,050,000 | AUD 1,334,682.23 | AUD 0.651065Calculated average | — |
| 2025-05-06to 2025-05-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-05-06Monthly aggregate restricted to period after the 6 May prior notice through the 14 August change date; individual transaction dates are not stated. Start includes the prior notice date because its timing within that day is not stated. As disclosed: 2025-05 purchase, 2,500,000 ordinary shares, $1,333,505.92
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 2,500,000 | AUD 1,333,505.92 | AUD 0.533402Calculated average | — |
| 2025-05-30 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-05-30Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 30/05/2025: 750,000 shares; $471,235.50 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 750,000 | AUD 471,235.50 | AUD 0.628314Calculated average | — |
| 2025-05-29 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-05-29Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 29/05/2025: 423,609 shares; $254,504.39 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 423,609 | AUD 254,504.39 | AUD 0.6008Calculated average | — |
| 2025-05-28 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-05-28Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 28/05/2025: 655,950 shares; $394,029.30 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 655,950 | AUD 394,029.30 | AUD 0.6007Calculated average | — |
| 2025-05-22 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-05-22Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 22/05/2025: 5,000,000 shares; $3,244,121.25 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 5,000,000 | AUD 3,244,121.25 | AUD 0.648824Calculated average | — |
| 2025-05-21 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-05-21Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 21/05/2025: 2,675,000 shares; $1,619,452.82 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 2,675,000 | AUD 1,619,452.82 | AUD 0.605403Calculated average | — |
| 2025-05-20 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-05-20Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 20/05/2025: 1,371,044 shares; $768,305.70 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 1,371,044 | AUD 768,305.70 | AUD 0.56038Calculated average | — |
| 2025-05-19 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-05-19Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 19/05/2025: 1,200,000 shares; $626,112.90 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 1,200,000 | AUD 626,112.90 | AUD 0.521761Calculated average | — |
| 2025-05-16 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-05-16Relevant interest held as investment manager for collective investment schemes; registered account per notice. Earlier position is not inferred. As disclosed: 16/05/2025: 1,280,000 shares; $620,982.34 cash consideration
Becoming a substantial holder ↗ | Purchaseordinary shares | 1,280,000 | AUD 620,982.34 | AUD 0.485142Calculated average | — |
| 2025-05-01to 2025-05-06 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-05-01Monthly aggregate, restricted to period after prior 7 April disclosure and through the 6 May change date; individual trade dates are not stated. As disclosed: 2025-05 purchase, 4,000,000 ordinary shares, $1,935,817.23
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 4,000,000 | AUD 1,935,817.23 | AUD 0.483954Calculated average | — |
| 2025-04-07to 2025-04-30 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-04-07Monthly aggregate, restricted to period after prior 7 April disclosure and through the 6 May change date; individual trade dates are not stated. Start includes the prior notice date because its timing within that day is not stated. As disclosed: 2025-04 sale, 120,000 ordinary shares, $64,953.79
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Saleordinary shares | 120,000 | AUD 64,953.79 | AUD 0.541282Calculated average | — |
| 2025-04-07to 2025-04-30 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-04-07Monthly aggregate, restricted to period after prior 7 April disclosure and through the 6 May change date; individual trade dates are not stated. Start includes the prior notice date because its timing within that day is not stated. As disclosed: 2025-04 purchase, 2,050,000 ordinary shares, $1,103,282.45
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Purchaseordinary shares | 2,050,000 | AUD 1,103,282.45 | AUD 0.538187Calculated average | — |
| 2025-04-01to 2025-04-07 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-04-01The source aggregates by calendar month, with signed volume and consideration; transaction dates are not individually disclosed. The April row is within the four months before the 7 April substantial-holder date. As disclosed: 2025-04 sale 30,000, cash 14,817.33
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ | Saleordinary shares | 30,000 | AUD 14,817.33 | AUD 0.493911Calculated average | — |
| 2025-04-01to 2025-04-07 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-04-01The source aggregates by calendar month, with signed volume and consideration; transaction dates are not individually disclosed. The April row is within the four months before the 7 April substantial-holder date. As disclosed: 2025-04 purchase 2,217,899, cash 910,936.18
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ | Purchaseordinary shares | 2,217,899 | AUD 910,936.18 | AUD 0.41072Calculated average | — |
| 2025-03-01to 2025-03-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-03-01The source aggregates by calendar month, with signed volume and consideration; transaction dates are not individually disclosed. The April row is within the four months before the 7 April substantial-holder date. As disclosed: 2025-03 sale 50,000, cash 23,558.06
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ | Saleordinary shares | 50,000 | AUD 23,558.06 | AUD 0.471161Calculated average | — |
| 2025-03-01to 2025-03-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-03-01The source aggregates by calendar month, with signed volume and consideration; transaction dates are not individually disclosed. The April row is within the four months before the 7 April substantial-holder date. As disclosed: 2025-03 purchase 11,222,401, cash 4,680,714.87
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ | Purchaseordinary shares | 11,222,401 | AUD 4,680,714.87 | AUD 0.417087Calculated average | — |
| 2025-02-01to 2025-02-28 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-02-01The source aggregates by calendar month, with signed volume and consideration; transaction dates are not individually disclosed. Pre-consolidation quantities are retained as reported. As disclosed: 2025-02 sale 1,000,000, cash 37,168.05
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ | Saleordinary shares (pre-consolidation) | 1,000,000 | AUD 37,168.05 | AUD 0.037168Calculated average | — |
| 2025-02-01to 2025-02-28 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-02-01The source aggregates by calendar month, with signed volume and consideration; transaction dates are not individually disclosed. Pre-consolidation quantities are retained as reported. As disclosed: 2025-02 purchase 69,717,077, cash 2,932,496.22
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ | Purchaseordinary shares (pre-consolidation) | 69,717,077 | AUD 2,932,496.22 | AUD 0.042063Calculated average | — |
| 2025-01-01to 2025-01-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-01-01The source aggregates by calendar month, with signed volume and consideration; transaction dates are not individually disclosed. Pre-consolidation quantities are retained as reported. As disclosed: 2025-01 sale 500,000, cash 17,461.50
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ | Saleordinary shares (pre-consolidation) | 500,000 | AUD 17,461.50 | AUD 0.034923Calculated average | — |
| 2025-01-01to 2025-01-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2025-01-01The source aggregates by calendar month, with signed volume and consideration; transaction dates are not individually disclosed. Pre-consolidation quantities are retained as reported. As disclosed: 2025-01 purchase 77,382,923, cash 2,444,269.18
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ | Purchaseordinary shares (pre-consolidation) | 77,382,923 | AUD 2,444,269.18 | AUD 0.031587Calculated average | — |
| 2024-12-01to 2024-12-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2024-12-01The source aggregates by calendar month, with signed volume and consideration; transaction dates are not individually disclosed. Pre-consolidation quantities are retained as reported. As disclosed: 2024-12 sale 500,000, cash 12,721.95
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ | Saleordinary shares (pre-consolidation) | 500,000 | AUD 12,721.95 | AUD 0.025444Calculated average | — |
| 2024-12-01to 2024-12-31 | Copia Investment Partners LtdHSBC Custody Nominees (Australia) Limited
Details & evidence for Copia Investment Partners Ltd on 2024-12-01The source aggregates by calendar month, with signed volume and consideration; transaction dates are not individually disclosed. Pre-consolidation quantities are retained as reported. As disclosed: 2024-12 purchase 2,000,000, cash 50,000.00
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ | Purchaseordinary shares (pre-consolidation) | 2,000,000 | AUD 50,000.00 | AUD 0.025Calculated average | — |
| 2024-12-04 | Newcrest Mining Limited and associatesNewcrest Operations Limited
Details & evidence for Newcrest Mining Limited and associates on 2024-12-04Outgoing side of the same Greatland asset-package transfer also recorded for the receiving holder; do not sum the two sides. A cessation notice does not itself establish remaining ownership is zero. As disclosed: Off market share sale; No specific amount of consideration was given for the sale of securities
Newcrest Operations Limited · shares registered to controlled entity Ceasing to be a substantial holder ↗ Ceasing to be a substantial holder ↗ Becoming a substantial holder - Greatland Gold ↗ | Transfer Outfully paid ordinary shares | 410,264,785 | —Mixed Unallocated | — | — |
| 2024-12-04 | Greatland Holdings Group Pty Ltd, Greatland Resources Limited and associatesGreatland Holdings Group Pty Ltd
Details & evidence for Greatland Holdings Group Pty Ltd, Greatland Resources Limited and associates on 2024-12-04Part of a broader mining-asset transaction; no transaction-specific cash value is allocated to the Antipa holding. As disclosed: No specific amount of consideration was given for the transfer of the securities
Becoming a substantial holder - Greatland Gold ↗ Becoming a substantial holder - Greatland Gold ↗ Becoming a substantial holder - Greatland Gold ↗ | Transfer Infully paid ordinary shares | 410,264,785 | —Mixed Unallocated | — | — |
| 2024-08-16 | Newcrest Mining Limited and associatesNewcrest Operations Limited
Details & evidence for Newcrest Mining Limited and associates on 2024-08-16Shares issued under top-up placement to Newcrest Operations Limited; quantities and price are pre-consolidation. A contemporaneous free option allocation is separately recorded. As disclosed: Newmont top-up placement, 54,150,000 shares at $0.01 each.
Newcrest Operations Limited · shares registered to controlled entity Application for quotation of securities - AZY ↗ Application for quotation of securities - AZY ↗ Application for quotation of securities - AZY ↗ Newmont Exercises Top-Up Right to Maintain 8.6% Shareholding ↗ | Subscriptionordinary fully paid shares | 54,150,000 | AUD 541,500.00 | AUD 0.01Disclosed price | — |
| 2024-08-16 | Newcrest Mining Limited and associatesNewcrest Operations Limited
Details & evidence for Newcrest Mining Limited and associates on 2024-08-16Free options attached to Newcrest Operations top-up shares; quantities and exercise price are pre-consolidation. As disclosed: Free attaching options issued to Newmont, as approved by shareholders on 13 August 2024.
Newcrest Operations Limited · shares registered to controlled entity Notification regarding unquoted securities - AZY ↗ Newmont Exercises Top-Up Right to Maintain 8.6% Shareholding ↗ | Grantunlisted options exercisable at A$0.02 until 16 August 2026 | 27,075,000 | —Non Cash | — | — |
| 2023-05-25 | Newcrest Mining Limited and associatesNewcrest Operations Limited
Details & evidence for Newcrest Mining Limited and associates on 2023-05-25As disclosed: Allotment of ordinary shares under top-up rights
Newcrest Operations Limited · shares registered to controlled entity Substantial Holder Notice from Newcrest Mining Limited ↗ | SubscriptionFully Paid Ordinary Shares | 1,144,560 | AUD 23,463.38 | AUD 0.0205Calculated average | — |
Disclosed holding observations19 dated positions
Initial, final and threshold notices describe positions; these are not counted as purchases or sales.
| Holding at | Person / group | Type / security | Quantity | Percentage |
|---|---|---|---|---|
| 2026-10-01 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2026-10-01Copia reports 122,400,000 ordinary shares after monthly purchases; last annexure row is October 2026.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ | PositionOrdinary Shares | 122,400,000 | 18.29%Voting Power |
| 2026-08-06 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2026-08-06Copia reports 114,550,005 ordinary shares and 17.25% voting power.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ | PositionOrdinary Shares | 114,550,005 | 17.25%Voting Power |
| 2026-06-25 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2026-06-25Copia reported a prior position of 107,707,288 ordinary shares and 16.25% voting power.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ | PositionOrdinary Shares | 107,707,288 | 16.25%Voting Power |
| 2026-06-03 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2026-06-03Copia reports 100,957,288 ordinary shares and 15.23% voting power.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ | PositionOrdinary Shares | 100,957,288 | 15.23%Voting Power |
| 2026-03-13 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2026-03-13Copia reported a prior position of 93,100,000 ordinary shares and 14.05% voting power.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ | PositionOrdinary Shares | 93,100,000 | 14.05%Voting Power |
| 2026-01-15 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2026-01-15Copia reports 85,800,000 ordinary shares and 12.95% voting power.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ | PositionOrdinary Shares | 85,800,000 | 12.95%Voting Power |
| 2025-12-18 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2025-12-18Copia reports 78,300,000 ordinary shares and 11.82% voting power.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ | PositionOrdinary Shares | 78,300,000 | 11.82%Voting Power |
| 2025-11-13 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2025-11-13Copia reports 70,800,000 ordinary shares and 10.75% voting power.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ | PositionOrdinary Shares | 70,800,000 | 10.75%Voting Power |
| 2025-10-29 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2025-10-29Copia reports 64,050,000 ordinary shares and 9.72% voting power.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ | PositionOrdinary Shares | 64,050,000 | 9.72%Voting Power |
| 2025-10-06 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2025-10-0647m previous shares plus net 8.05m trades reconciles to 55.05m.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Thresholdordinary shares | 55,050,000 | 8.47%Voting Power |
| 2025-08-14 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2025-08-1435.7m previous shares plus net 11.3m reported purchases reconciles to 47m.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Thresholdordinary shares | 47,000,000 | 7.26%Voting Power |
| 2025-07-15 | Greatland Holdings Group Pty Ltd, Greatland Resources Limited and associates
Details & evidence for Greatland Holdings Group Pty Ltd, Greatland Resources Limited and associates on 2025-07-15The same post-consolidation share count is shown before and after this notice; percentage changed due to issued-share count.
Change in substantial holding ↗ | PositionFully Paid Ordinary Shares | 41,026,478 | 6.34%Voting Power |
| 2025-06-18 | Jupiter Asset Management Ltd
Details & evidence for Jupiter Asset Management Ltd on 2025-06-18Initial threshold position; prior opening balance is not disclosed.
Becoming a substantial holder ↗ | Initialordinary shares | 31,248,260 | 5.39%Voting Power |
| 2025-05-06 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2025-05-0629,770,000 previous shares plus 2,050,000 less 120,000 plus 4,000,000 reconciles to 35,700,000.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Change in substantial holding ↗ Change in substantial holding ↗ | Thresholdordinary shares | 35,700,000 | 6.21%Voting Power |
| 2025-04-07 | Copia Investment Partners Ltd
Details & evidence for Copia Investment Partners Ltd on 2025-04-07Initial threshold position. Prior opening position is not disclosed; the notice lists only four months of trading.
HSBC Custody Nominees (Australia) Limited · registered holder/custodian for relevant shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ | Initialordinary shares | 29,770,000 | 5.19%Voting Power |
| 2025-02-14 | Greatland Holdings Group Pty Ltd, Greatland Resources Limited and associates
Details & evidence for Greatland Holdings Group Pty Ltd, Greatland Resources Limited and associates on 2025-02-14Unchanged share count with reduced voting percentage due to dilution; not a sale.
Change in substantial holding ↗ | Thresholdfully paid ordinary shares | 410,264,785 | 7.38%Voting Power |
| 2024-12-04 | Greatland Holdings Group Pty Ltd, Greatland Resources Limited and associates
Details & evidence for Greatland Holdings Group Pty Ltd, Greatland Resources Limited and associates on 2024-12-04Initial disclosed group relevant interest.
Becoming a substantial holder - Greatland Gold ↗ | Initialfully paid ordinary shares | 410,264,785 | 8.46%Voting Power |
| 2024-12-04 | Newcrest Mining Limited and associates
Details & evidence for Newcrest Mining Limited and associates on 2024-12-04Ceasing to be substantial does not mean that no shares remain; remaining quantity is not stated.
Newcrest Operations Limited · shares registered to controlled entity Ceasing to be a substantial holder ↗ | Finalfully paid ordinary shares | — | — |
| 2023-10-06 | Newcrest Mining Limited and associates
Details & evidence for Newcrest Mining Limited and associates on 2023-10-06Position disclosed on 6-Oct-2023; not current ownership.
Newcrest Operations Limited · shares registered to controlled entity Substantial Holder Notice from Newcrest Mining Limited ↗ | PositionFully Paid Ordinary Shares | 356,114,785 | 8.83%Voting Power |
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Narrative and provenance
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Sign in or enter a guest codeChronological evidenceSource-document inventory24 documents
Application for quotation of securities - AZYCorporate Action · HighPartial
30 October exercise of 100,000 options at A$0.35; ordinary shares become 669,144,286 and remaining unquoted options total 34,662,181. Reconciles full security classes. Physical pages read: 1, 2, 3, 4, 5, 6, 7, 8.
- Document ID
- capital-oct26
- Published UTC
- 2026-10-30T04:04:16+00:00
- Projects
- minyari_project
- Commodities
- gold · copper
ASX AZY reference closeMarket Data · MediumExtracted
python -m miners.reference_price AZY --valuation-date 2026-10-30. market data provider via miners.collect_stock_prices; raw close AUD0.47, date 2026-10-30, volume 211000, same ordinary security, freshness 0 days. No external quote substitution.
- Document ID
- azy-reference-close
- Published UTC
- 2026-10-30T00:00:00Z
- Projects
- —
- Commodities
- —
Local market snapshotMarket Data · MediumExtracted
python -m miners.v8db.market_snapshot AZY --cutoff 2026-10-30 --shares 669144286 --commodities Au,Cu. Source databases data/asx_mining_companies.db, data/metal_prices.db and data/miners_v8.db. {"ticker": "AZY", "cutoff": "2026-10-30", "stock": {"close": 0.47, "date": "2026-10-30", "currency": "AUD", "source": "asx_mining_companies.db:daily_stock_prices", "high_52w": 0.835, "low_52w": 0.44, "returns": {"1m": -0.1455, "3m": -0.1376, "6m": -0.2769, "12m": -0.1215, "3y": 2.3571}, "relative_to_mining_index": {"1m": -0.0439, "3m": -0.0926, "6m": -0.1687, "12m": -0.21, "3y": 1.9523}, "avg_traded_value_20d": 410925.0, "avg_traded_value_60d": 511773.0, "shares": 669144286.0, "market_cap": 314497814.0}, "commodities": {"aud_per_usd": 1.4407, "Au": {"spot": 4031.3999, "unit": "USD/oz", "spot_date": "2026-10-29", "1y": {"average": 4452.2103, "low": 3947.7, "high": 5318.3999, "observations": 251}, "3y": {"average": 3304.7297, "low": 1932.6, "high": 5318.3999, "observations": 754}, "5y": {"average": 2724.9814, "low": 1623.3, "high": 5318.3999, "observations": 1256}, "series": "yahoo_futures:gc"}, "Cu": {"spot": 14508.6211, "unit": "USD/t", "spot_date": "2026-10-29", "1y": {"average": 13281.1868, "low": 10859.9713, "high": 14999.1504, "observations": 251}, "3y": {"average": 10892.9468, "low": 7900.265, "high": 14999.1504, "observations": 754}, "5y": {"average": 10043.6691, "low": 7077.9409, "high": 14999.1504, "observations": 1256}, "series": "yahoo_futures:hg"}}, "peers": {"basis": "primary commodity None", "source": "miners_v8.db:stock_daily (published research and daily recompute)", "coverage": "thin: 0 published peer(s) share the primary commodity; the database only holds stocks already run, so add peers from outside research (see the value skill)", "rows": []}}
- Document ID
- market-snapshot
- Published UTC
- 2026-10-30T00:00:00Z
- Projects
- —
- Commodities
- —
Published Australian gold peer database screenMarket Data · MediumExtracted
Read-only extension of snapshot: subject is absent from published companies, so primary_commodity None returns no peers automatically; queried published Au rows explicitly without reading any peer research files. Latest available dates 9–14 October 2026. [{"ticker": "CMM", "name": "CAPRICORN METALS LTD", "lead_asset_stage": "pfs_developer", "main_country": "AU", "market_cap": 6537149132.8, "enterprise_value": 6052633132.8, "ev_attrib_resource": 607.7551092278342, "p_nav": 1.0201175746141102, "return_12m": 0.004213483146067398, "date": "2026-10-14"}, {"ticker": "FRS", "name": "Forrestania Resources Limited", "lead_asset_stage": "pfs_developer", "main_country": "AU", "market_cap": 776125480.64, "enterprise_value": 768362764.64, "ev_attrib_resource": 330.2296224137242, "p_nav": 3.464628310344081, "return_12m": 0.30612244897959195, "date": "2026-10-09"}, {"ticker": "GGP", "name": "Greatland Resources Limited", "lead_asset_stage": "construction", "main_country": "AU", "market_cap": 6584753443.36, "enterprise_value": 5317999443.36, "ev_attrib_resource": 316.9469695265715, "p_nav": 1.3443905785218453, "return_12m": 0.11161731207289294, "date": "2026-10-14"}, {"ticker": "MEK", "name": "Meeka Metals Limited", "lead_asset_stage": "ramping_producer", "main_country": "AU", "market_cap": 269869047.351, "enterprise_value": 251401047.351, "ev_attrib_resource": 169.29363457979798, "p_nav": 0.8468059840956209, "return_12m": -0.5857142857142857, "date": "2026-10-09"}, {"ticker": "MI6", "name": "Minerals 260 Limited", "lead_asset_stage": "pfs_developer", "main_country": "AU", "market_cap": null, "enterprise_value": null, "ev_attrib_resource": null, "p_nav": null, "return_12m": null, "date": "2026-10-14"}]
- Document ID
- peer-database
- Published UTC
- 2026-10-30T00:00:00Z
- Projects
- —
- Commodities
- —
Thick High-Grade Gold intercepts returned from Minyari DepositResource Update · HighPartial
28 October new assays from previously unsampled 2025 core: 22m at 8.2g/t Au. Fresh result, historic drilling date kept distinct. Other Phase 1 intersections and active drilling noted; none treated as reserves or a mine plan. Physical pages read: 1, 2. Detailed tenure and live royalty/legal interest provisions checked on physical pages58–59: International Royalty Corporation1%NSR, Newcrest Operations1.5%NSR on specified other licences and Paladin uranium rights.
- Document ID
- drill-oct26
- Published UTC
- 2026-10-28T00:00:00Z
- Projects
- minyari_project
- Commodities
- gold · copper
Quarterly Activities and Cash Flow Report September 2026Operations · HighPartial
September quarter: A$28.013m cash, no debt or facility, A$12.336m operating plus investing burn, November PFS target; conventional CIL then copper flotation selected. Image-classified selected pages viewed. Physical pages read: 1, 3, 4, 13, 14, 24, 25, 26, 27.
- Document ID
- q-sep26
- Published UTC
- 2026-10-27T00:00:00Z
- Projects
- minyari_project
- Commodities
- gold · copper
Notice of Annual General MeetingGovernance · HighPartial
AGM confirmed 26 November 2026 9:30am AWST; current CFO/secretary Luke Watson. Remaining remuneration resolutions not yet approved at cutoff. Physical pages read: 1, 2, 3.
- Document ID
- agm26
- Published UTC
- 2026-10-23T00:00:00Z
- Projects
- minyari_project
- Commodities
- gold · copper
LBMA Q3 2026 market reportOther · MediumExtracted
Dated 14 October. Q3 auction gold mostly US$4,000–4,400 with wide volatility; used against the local futures observation. Forecasts quoted by third parties are not adopted mechanically.
- Document ID
- lbma-q3
- Published UTC
- 2026-10-14T00:00:00Z
- Projects
- —
- Commodities
- —
AZY management background screeningOther · MediumExtracted
management/AZY/summary.md and background-check.json reviewed. Screening-level biographies, Mason resource growth and Rodda/Johnson Lepidico board overlap; no personal causation or legal clearance inferred. Primary annual report rechecked.
- Document ID
- management-local
- Published UTC
- 2026-10-09T00:00:00Z
- Projects
- —
- Commodities
- —
AZY investor snapshotOther · MediumExtracted
ownership/AZY/investors.json; register dated 4 September verified to annual report physical page 106; later Copia notice updates beneficial holding, while nominees are not equated to beneficial owners.
- Document ID
- ownership-local
- Published UTC
- 2026-10-09T00:00:00Z
- Projects
- —
- Commodities
- —
AZY insider transactions databaseOther · MediumExtracted
python -m miners.insider_transactions show AZY. Partial source review through 9 October, 177 pending records and 13 unresolved matters. Historical Rodda purchase and Power subscription carry incomplete reconciliations; primary 2026 annual director holdings supersede historical balance snapshots. No clean-bill-of-health or current net buying claim.
- Document ID
- insiders-local
- Published UTC
- 2026-10-09T00:00:00Z
- Projects
- —
- Commodities
- —
Change in substantial holdingOther · HighPartial
Copia/Chester Form 604 dated 1 October and released 2 October: present holding 122.4m shares and 18.29% voting power; scan has swapped entry positions in labelled columns, interpreted against units rather than copied blindly. Physical pages read: 1, 2.
- Document ID
- holder-oct26
- Published UTC
- 2026-10-02T04:33:39.000Z
- Projects
- minyari_project
- Commodities
- gold · copper
Australian Resources and Energy Quarterly September 2026Other · MediumExtracted
September 2026 release, published by early October as verified web publication. Gold export revenue outlook constructive; higher diesel cost is a mine-development risk. Full numeric long-run gold forecast was not extracted; no false consensus deck claimed.
- Document ID
- req-sep26
- Published UTC
- 2026-10-01T00:00:00Z
- Projects
- —
- Commodities
- —
Annual Report to shareholdersResults · HighPartial
Audited FY2026 and comparative FY2025 statements; six-director roster and CFO, share bridge, options, resource and tenure summaries, commitments and related-party metallurgy fees. No production or Ore Reserve. Material going-concern uncertainty is disclosed at physical page 64. Selected text-classified core tables also visually inspected. Physical pages read: 3, 5, 6, 7, 8, 9, 10, 11, 12, 13, 28, 29, 30, 31, 38, 39, 40, 41, 42, 43, 60, 61, 62, 63, 64, 72, 73, 74, 79, 80, 81, 82, 106, 107, 108, 110, 111, 112, 113.
- Document ID
- annual26
- Published UTC
- 2026-09-17T22:17:48.000Z
- Projects
- minyari_project
- Commodities
- gold · copper
World Gold Council Q2 2026 outlookOther · MediumExtracted
Dated 30 July 2026. Investment and central bank demand underpin gold; jewellery and ETF flows face price/real-yield sensitivity, while production and recycling respond gradually. Used qualitatively to support scenarios, not a point price target.
- Document ID
- wgc-outlook
- Published UTC
- 2026-07-30T00:00:00Z
- Projects
- —
- Commodities
- —
Hannam Partners Metallurgy confirms CIL processingOther · HighPartial
Issuer-paid H&P marketing communication, 6 July 2026: A$2.25 target, A$1.513bn base NAV, potential 4.3kt copper production is broker assumption, not issuer guidance. Used solely as competing thesis; client relationship noted. Physical pages read: 1, 3.
- Document ID
- hp-jul26
- Published UTC
- 2026-07-06T00:00:00Z
- Projects
- minyari_project
- Commodities
- gold · copper
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · HighPartial
Historicalcashcheckpointonly; corecashreconciliationtableviewed. Otheroperatinghistoricalrowsnorequiredforpreproductionthesis;currentcapital/costviewsusecutoffreleases. Physical pages read: 20.
- Document ID
- q-mar26
- Published UTC
- 2026-04-27T22:12:17Z
- Projects
- minyari_project
- Commodities
- gold · copper
Minyari Project Resource Grows to 3.6 Moz Gold EquivalentResource Update · HighPartial
Original April 2026 resource table and category/deposit breakdown viewed. Minyari Dome 51Mt at 1.54g/t Au contains 2.54Moz gold, 87kt copper; satellite deposits all Inferred. Differences among rounded tables are retained and not forced into false precision. Physical pages read: 1, 7, 15, 21, 22, 23, 24.
- Document ID
- mre-apr26
- Published UTC
- 2026-04-02T00:00:00Z
- Projects
- minyari_project
- Commodities
- gold · copper
East Coast Research Building a Belt-Scale Paterson PlatformOther · HighPartial
Issuer-paid East Coast Research 18 March 2026: A$1.99 target, lower case A$1.90, A$6,500/oz gold, 12% WACC reported in report. Selected text pages read; not used as fair-value anchor. Higher commodity and transaction assumptions are challenged. Physical pages read: 1, 5, 9.
- Document ID
- ecr-mar26
- Published UTC
- 2026-03-18T00:00:00Z
- Projects
- minyari_project
- Commodities
- gold · copper
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · HighPartial
Historicalcashcheckpointonly; corecashreconciliationtableviewed. Otheroperatinghistoricalrowsnorequiredforpreproductionthesis;currentcapital/costviewsusecutoffreleases. Physical pages read: 34.
- Document ID
- q-dec25
- Published UTC
- 2026-01-27T21:12:57Z
- Projects
- minyari_project
- Commodities
- gold · copper
Quarterly Activities/Appendix 5B Cash Flow ReportOperations · HighPartial
Historicalcashcheckpointonly; corecashreconciliationtableviewed. Otheroperatinghistoricalrowsnorequiredforpreproductionthesis;currentcapital/costviewsusecutoffreleases. Physical pages read: 30.
- Document ID
- q-sep25
- Published UTC
- 2025-10-26T21:20:53Z
- Projects
- minyari_project
- Commodities
- gold · copper
2025 Annual ReportTransaction · HighPartial
FY2025 annual report portfolio history: IGO and Newmont farm-ins terminated without earned ownership; Citadel 32% interest sold for A$17m cash October 2024 and JV terminated. Partial reading for transaction chronology; audited comparative figures taken from newer FY2026 audited report. Physical pages read: 29, 30, 31, 32.
- Document ID
- annual25
- Published UTC
- 2025-09-25T22:17:15.000Z
- Projects
- minyari_project
- Commodities
- gold · copper
Australian business company income tax ratesOther · LowExtracted
Dated official Australian government guidance: standard company income tax30%, reduced25% for eligible base-rate entities. Used only to support30% large-mine modelling rate; depreciation and loss utilisation are explicitly analyst proxies, not advice.
- Document ID
- tax-rate
- Published UTC
- 2025-06-13T00:00:00Z
- Projects
- —
- Commodities
- —
Minyari Scoping Study Update Confirms Development PotentialStudy · HighPartial
October 2024 full scoping study. Detailed annual cash-cost and production tables at physical pages 90–91 are used to reconstruct a finite gold-only study case, not an unpublished PFS. A$306.3m preproduction includes A$90.5m prestrip; 3.5% state plus Sandstorm royalty and 99.9% doré payability. Study accuracy ±35%; no reserve. Physical pages read: 1, 2, 3, 5, 6, 8, 11, 13, 14, 15, 16, 33, 34, 35, 36, 82, 83, 85, 86, 88, 90, 91.
- Document ID
- study24
- Published UTC
- 2024-10-23T21:23:55Z
- Projects
- minyari_project
- Commodities
- gold · copper
Evidence facts56
145450 AUD
2026-06-3039145760 AUD
2026-06-30137243996 AUD
2026-06-30-5945295 AUD
2026-06-30-1789135 AUD
2026-06-3036771339 AUD
2026-06-3036482365 AUD
2025-06-3098253211 AUD
2025-06-30-5343349 AUD
2025-06-30-2022431 AUD
2025-06-309488491 AUD
2025-06-30662965219 shares
2026-06-30579542891 shares
2025-06-3028013000 AUD
2026-09-300 AUD
2026-09-300 AUD
2026-09-3012336000 AUD
2026-09-30-705000 AUD
2026-09-3011631000 AUD
2026-09-303840 km2
2026-09-30669144286 shares
2026-10-30703806467 shares
2026-10-30100 %
2026-04-02Au text
2026-04-02AU text
2026-04-0251000000 t
2026-04-021.54 g/t
2026-04-022540000 oz
2026-04-022026-04-02 date
2026-04-02Open pit and underground study text
2026-04-02100 %
2026-04-02Au text
2026-04-02AU text
2026-04-0217400000 t
2026-04-020.6971264367816092 g/t
2026-04-02390000 oz
2026-04-022026-04-02 date
2026-04-02Potential open pit text
2026-04-022200000 oz
2026-04-02375000 oz
2026-04-020.3 g/t
2026-04-02scoping_study text
2024-10-242024-10-24 date
2024-10-24598000000 AUD
2024-10-2446 %
2024-10-24306300000 AUD
2024-10-24120000 oz/yr
2024-10-241721 AUD/oz
2024-10-2411 years
2024-10-247 %
2024-10-243000 AUD/oz
2024-10-2422m at 8.2g/t Au from100m, previously unsampled2025 core text
2026-10-2814m at 2.1g/t Au from40m at Chicken Ranch text
2026-10-2861431000 AUD
2025-09-3051174000 AUD
2025-12-3147675000 AUD
2026-03-31