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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 activity16 buys · 0 sells shownNet cash last 12 months no tradesShow 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 |
|---|---|---|---|---|---|---|
| 2026-07-07 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2026-07-07Source separately reports option disposal and ordinary-share acquisition. As disclosed: Exercise of unlisted options at $0.20 each
director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ | Exerciseunlisted options exercisable at $0.20 until 16 August 2026 converted to ordinary shares | 75,000 | AUD 15,000.00 | AUD 0.2Disclosed price | — |
| 2026-07-07 | Roger Craig MasonResComp Pty Ltd as trustee for Newport Superannuation Fund
Details & evidence for Roger Craig Mason on 2026-07-07Source separately reports option disposal and ordinary-share acquisition. As disclosed: Exercise of unlisted options at $0.20 each
Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ | Exerciseunlisted options exercisable at $0.20 until 16 August 2026 converted to ordinary shares | 75,000 | AUD 15,000.00 | AUD 0.2Disclosed price | — |
| 2026-07-07 | Mark Trevor RoddaMurphy Rodda Superannuation Fund
Details & evidence for Mark Trevor Rodda on 2026-07-07Source separately reports option disposal and ordinary-share acquisition. The notice identifies the Murphy Rodda Superannuation Fund specifically as a direct interest, while its general direct-or-indirect field says indirect; the account-specific description is used here and the conflict remains unresolved. As disclosed: Exercise of unlisted options at $0.20 each
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ | Exerciseunlisted options exercisable at $0.20 until 16 August 2026 converted to ordinary shares | 75,000 | AUD 15,000.00 | AUD 0.2Disclosed price | — |
| 2025-11-25 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2025-11-25Nil consideration; awarded following shareholder approval. As disclosed: Issue of options following shareholder approval
director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Directors Interest Notice (x6) ↗ | Grantunlisted options exercisable at $0.86 until 24 November 2029 | 600,000 | —Non Cash | — | — |
| 2025-11-25 | Roger Craig MasonResComp Pty Ltd as trustee for Newport Superannuation Fund
Details & evidence for Roger Craig Mason on 2025-11-25Nil consideration; awarded following shareholder approval. As disclosed: Issue of options following shareholder approval
Change of Directors Interest Notice (x6) ↗ | Grantunlisted options exercisable at $0.86 until 24 November 2029 | 1,500,000 | —Non Cash | — | — |
| 2025-11-25 | Peter Stanley BuckBuck Superannuation Fund
Details & evidence for Peter Stanley Buck on 2025-11-25Nil consideration; awarded following shareholder approval. As disclosed: Issue of options following shareholder approval
Change of Directors Interest Notice (x6) ↗ | Grantunlisted options exercisable at $0.86 until 24 November 2029 | 600,000 | —Non Cash | — | — |
| 2025-11-25 | Neil Fredrick WarburtonMichlange Pty Ltd as trustee for NF Warburton Family Trust
Details & evidence for Neil Fredrick Warburton on 2025-11-25Nil consideration; awarded following shareholder approval. As disclosed: Issue of options following shareholder approval
Change of Directors Interest Notice (x6) ↗ | Grantunlisted options exercisable at $0.86 until 24 November 2029 | 300,000 | —Non Cash | — | — |
| 2025-11-25 | Mark Trevor RoddaSodelu Pty Ltd as trustee for Sodelu Trust
Details & evidence for Mark Trevor Rodda on 2025-11-25Nil consideration; awarded following shareholder approval. As disclosed: Issue of options following shareholder approval
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Directors Interest Notice (x6) ↗ | Grantunlisted options exercisable at $0.86 until 24 November 2029 | 1,350,000 | —Non Cash | — | — |
| 2025-11-25 | Gary Donald Johnson
Details & evidence for Gary Donald Johnson on 2025-11-25Nil consideration; awarded following shareholder approval. As disclosed: Issue of options following shareholder approval
Change of Directors Interest Notice (x6) ↗ | Grantunlisted options exercisable at $0.86 until 24 November 2029 | 600,000 | —Non Cash | — | — |
| 2025-11-18 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2025-11-18This notice states expiry 18 November and change date 19 November. As disclosed: Expiry of $0.95 Unlisted Options on 18 November 2025
director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Directors Interest Notices (x5) ↗ Change of Directors Interest Notices (x5) ↗ Notification of cessation of securities - AZY ↗ | Expiryunlisted options exercisable at $0.95 until 18 November 2025 | 900,000 | —Non Cash | — | — |
| 2025-11-18 | Roger Craig MasonResComp Pty Ltd as trustee for Newport Superannuation Fund
Details & evidence for Roger Craig Mason on 2025-11-18This notice states expiry 18 November and change date 19 November. As disclosed: Expiry of $0.95 Unlisted Options on 18 November 2025
Change of Directors Interest Notices (x5) ↗ Change of Directors Interest Notices (x5) ↗ Notification of cessation of securities - AZY ↗ | Expiryunlisted options exercisable at $0.95 until 18 November 2025 | 1,500,000 | —Non Cash | — | — |
| 2025-11-18 | Peter Stanley BuckBuck Superannuation Fund
Details & evidence for Peter Stanley Buck on 2025-11-18This notice states expiry 18 November and change date 19 November. As disclosed: Expiry of $0.95 Unlisted Options on 18 November 2025
Change of Directors Interest Notices (x5) ↗ Change of Directors Interest Notices (x5) ↗ Notification of cessation of securities - AZY ↗ | Expiryunlisted options exercisable at $0.95 until 18 November 2025 | 600,000 | —Non Cash | — | — |
| 2025-11-18 | Mark Trevor RoddaSodelu Pty Ltd as trustee for Sodelu Trust
Details & evidence for Mark Trevor Rodda on 2025-11-18This notice states expiry 18 November and change date 19 November. As disclosed: Expiry of $0.95 Unlisted Options on 18 November 2025
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Directors Interest Notices (x5) ↗ Change of Directors Interest Notices (x5) ↗ Notification of cessation of securities - AZY ↗ | Expiryunlisted options exercisable at $0.95 until 18 November 2025 | 1,200,000 | —Non Cash | — | — |
| 2025-11-18 | Gary Donald Johnson
Details & evidence for Gary Donald Johnson on 2025-11-18This notice states expiry 18 November and change date 19 November. Earlier 2024 director notice described a 19 November 2025 option expiry; the conflicting source dates are preserved. As disclosed: Expiry of $0.95 Unlisted Options on 18 November 2025
Change of Directors Interest Notices (x5) ↗ Change of Directors Interest Notices (x5) ↗ Change of Director's Interest Notice (x5) ↗ Notification of cessation of securities - AZY ↗ | Expiryunlisted options exercisable at $0.95 until 18 November 2025 | 600,000 | —Non Cash | — | — |
| 2025-10-15 | Mark Trevor RoddaSodelu Pty Ltd as trustee for Sodelu Trust
Details & evidence for Mark Trevor Rodda on 2025-10-15Notice gives total consideration across that director’s accounts. Amount is not allocated to this individual account. Napier appears in both Rodda and Power notices; duplicate economic identity is preserved. Ordinary share holdings: 1791346 before and 1824519 after, not combined with the separately disposed option class. As disclosed: Exercise of unlisted options at $0.20 each
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice (x4) ↗ Change of Director's Interest Notice (x4) ↗ | Exerciseunlisted options exercisable at $0.20 converted to fully paid ordinary shares | 33,173 | — | AUD 0.2Disclosed price | — |
| 2025-10-15 | Mark Trevor RoddaNapier Capital Pty Ltd
Details & evidence for Mark Trevor Rodda on 2025-10-15Notice gives total consideration across that director’s accounts. Amount is not allocated to this individual account. Napier appears in both Rodda and Power notices; duplicate economic identity is preserved. Ordinary share holdings: 155769 before and 158653 after, not combined with the separately disposed option class. The same Napier exercise appears in Power’s notice; one economic record is retained to avoid double counting. As disclosed: Exercise of unlisted options at $0.20 each
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice (x4) ↗ Change of Director's Interest Notice (x4) ↗ Change of Director's Interest Notice (x4) ↗ Change of Director's Interest Notice (x4) ↗ | Exerciseunlisted options exercisable at $0.20 converted to fully paid ordinary shares | 2,884 | — | AUD 0.2Disclosed price | — |
| 2025-10-15 | Mark Trevor RoddaMurphy Rodda Superannuation Fund
Details & evidence for Mark Trevor Rodda on 2025-10-15Notice gives total consideration across that director’s accounts. Amount is not allocated to this individual account. Napier appears in both Rodda and Power notices; duplicate economic identity is preserved. Ordinary share holdings: 1818922 before and 1849827 after, not combined with the separately disposed option class. The notice identifies the Murphy Rodda Superannuation Fund specifically as a direct interest, while its general direct-or-indirect field says indirect; the account-specific description is used here and the conflict remains unresolved. As disclosed: Exercise of unlisted options at $0.20 each
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice (x4) ↗ Change of Director's Interest Notice (x4) ↗ | Exerciseunlisted options exercisable at $0.20 converted to fully paid ordinary shares | 30,905 | — | AUD 0.2Disclosed price | — |
| 2025-10-15 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2025-10-15Notice gives total consideration across that director’s accounts. Amount is not allocated to this individual account. Napier appears in both Rodda and Power notices; duplicate economic identity is preserved. Ordinary share holdings: 6588115 before and 6707339 after, not combined with the separately disposed option class. As disclosed: Exercise of unlisted options at $0.20 each
director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Director's Interest Notice (x4) ↗ Change of Director's Interest Notice (x4) ↗ | Exerciseunlisted options exercisable at $0.20 converted to fully paid ordinary shares | 119,224 | — | AUD 0.2Disclosed price | — |
| 2025-10-15 | Roger Craig MasonResComp Pty Ltd as trustee for Newport Superannuation Fund
Details & evidence for Roger Craig Mason on 2025-10-15Notice gives total consideration across that director’s accounts. Amount is not allocated to this individual account. Napier appears in both Rodda and Power notices; duplicate economic identity is preserved. Ordinary share holdings: 590248 before and 596857 after, not combined with the separately disposed option class. As disclosed: Exercise of unlisted options at $0.20 each
Change of Director's Interest Notice (x4) ↗ Change of Director's Interest Notice (x4) ↗ | Exerciseunlisted options exercisable at $0.20 converted to fully paid ordinary shares | 6,609 | — | AUD 0.2Disclosed price | — |
| 2025-10-15 | Roger Craig MasonRoger Craig Mason as trustee for Mason Family Trust
Details & evidence for Roger Craig Mason on 2025-10-15Notice gives total consideration across that director’s accounts. Amount is not allocated to this individual account. Napier appears in both Rodda and Power notices; duplicate economic identity is preserved. Ordinary share holdings: 1168245 before and 1189879 after, not combined with the separately disposed option class. As disclosed: Exercise of unlisted options at $0.20 each
Change of Director's Interest Notice (x4) ↗ Change of Director's Interest Notice (x4) ↗ | Exerciseunlisted options exercisable at $0.20 converted to fully paid ordinary shares | 21,634 | — | AUD 0.2Disclosed price | — |
| 2025-10-15 | Peter Stanley BuckBuck Superannuation Fund
Details & evidence for Peter Stanley Buck on 2025-10-15Notice gives total consideration across that director’s accounts. Amount is not allocated to this individual account. Napier appears in both Rodda and Power notices; duplicate economic identity is preserved. Ordinary share holdings: 1722949 before and 1754083 after, not combined with the separately disposed option class. As disclosed: Exercise of unlisted options at $0.20 each
Change of Director's Interest Notice (x4) ↗ Change of Director's Interest Notice (x4) ↗ | Exerciseunlisted options exercisable at $0.20 converted to fully paid ordinary shares | 31,134 | — | AUD 0.2Disclosed price | — |
| 2025-10-01 | Roger Craig MasonResComp Pty Ltd as trustee for Newport Superannuation Fund
Details & evidence for Roger Craig Mason on 2025-10-01Placement issued after shareholder approval; not an on-market purchase. As disclosed: Issue of Placement Shares following shareholder approval at the General Meeting on 18 September 2025
Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ | Subscriptionfully paid ordinary shares | 83,333 | AUD 50,000.00 | AUD 0.600002Calculated average | 590,248 |
| 2025-10-01 | Peter Stanley BuckBuck Superannuation Fund
Details & evidence for Peter Stanley Buck on 2025-10-01Placement issued after shareholder approval; not an on-market purchase. As disclosed: Issue of Placement Shares following shareholder approval at the General Meeting on 18 September 2025
Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ | Subscriptionfully paid ordinary shares | 41,667 | AUD 25,000.00 | AUD 0.599995Calculated average | 1,722,949 |
| 2025-10-01 | Gary Donald JohnsonNetwealth Investments Ltd <WRAP Services A/C> Johnson Superannuation Fund
Details & evidence for Gary Donald Johnson on 2025-10-01Placement issued after shareholder approval; not an on-market purchase. As disclosed: Issue of Placement Shares following shareholder approval at the General Meeting on 18 September 2025
Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ | Subscriptionfully paid ordinary shares | 83,334 | AUD 50,000.00 | AUD 0.599995Calculated average | 1,023,434 |
| 2025-08-13 | Neil Fredrick WarburtonMichlange Pty Ltd as trustee for NF Warburton Family Trust
Details & evidence for Neil Fredrick Warburton on 2025-08-13Annual report identifies this option issue on appointment; the initial director notice identifies the related account. The associated initial position is a snapshot, not a second grant. As disclosed: On 13 August 2025 the Company issued 600,000 options upon appointment as a Non-Executive Director.
Annual Report to shareholders ↗ Annual Report to shareholders ↗ Initial Director's Interest Notice - Neil Warburton ↗ Appointment of Highly Experienced Mining Executive to Board ↗ Notification regarding unquoted securities - AZY ↗ | Grantunlisted options exercisable at $0.83 until 12 August 2029 | 600,000 | —Non Cash | — | — |
| 2024-12-02 | Gary Donald JohnsonNetwealth Investments Ltd <WRAP Services A/C> Johnson Superannuation Fund
Details & evidence for Gary Donald Johnson on 2024-12-02Dated share quantities are as disclosed before any later consolidation. As disclosed: 6,500,000 ordinary shares; $165,100; on-market purchase of shares
Change of Director's Interest Notice - Gary Johnson ↗ Change of Director's Interest Notice - Gary Johnson ↗ | Purchasefully paid ordinary shares | 6,500,000 | AUD 165,100.00 | AUD 0.0254Calculated average | 9,401,009 |
| 2024-11-26 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2024-11-26Quantity and exercise price are as disclosed at the time; later share-consolidation effects, if any, are not assumed. As disclosed: Nil – grant of options; Issue of Options following shareholder approval at AGM on 26 November 2024
director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ | Grantunlisted options exercisable at $0.035 until 25 November 2028 | 6,000,000 | —Non Cash | — | — |
| 2024-11-26 | Roger Craig MasonResComp Pty Ltd as trustee for Newport Superannuation Fund
Details & evidence for Roger Craig Mason on 2024-11-26Quantity and exercise price are as disclosed at the time; later share-consolidation effects, if any, are not assumed. As disclosed: Nil – grant of options; Issue of Options following shareholder approval at AGM on 26 November 2024
Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ | Grantunlisted options exercisable at $0.035 until 25 November 2028 | 15,000,000 | —Non Cash | — | — |
| 2024-11-26 | Peter Stanley BuckBuck Superannuation Fund
Details & evidence for Peter Stanley Buck on 2024-11-26Quantity and exercise price are as disclosed at the time; later share-consolidation effects, if any, are not assumed. As disclosed: Nil – grant of options; Issue of Options following shareholder approval at AGM on 26 November 2024
Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ | Grantunlisted options exercisable at $0.035 until 25 November 2028 | 6,000,000 | —Non Cash | — | — |
| 2024-11-26 | Mark Trevor RoddaSodelu Pty Ltd as trustee for Sodelu Trust
Details & evidence for Mark Trevor Rodda on 2024-11-26Quantity and exercise price are as disclosed at the time; later share-consolidation effects, if any, are not assumed. As disclosed: Nil – grant of options; Issue of Options following shareholder approval at AGM on 26 November 2024
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ | Grantunlisted options exercisable at $0.035 until 25 November 2028 | 13,500,000 | —Non Cash | — | — |
| 2024-11-26 | Gary Donald Johnson
Details & evidence for Gary Donald Johnson on 2024-11-26Quantity and exercise price are as disclosed at the time; later share-consolidation effects, if any, are not assumed. As disclosed: Nil – grant of options; Issue of Options following shareholder approval at AGM on 26 November 2024
Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ | Grantunlisted options exercisable at $0.035 until 25 November 2028 | 6,000,000 | —Non Cash | — | — |
| 2024-11-20 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2024-11-20Option expiry on 20 November is the stated nature of change; notice reports change date 21 November. As disclosed: Expiry of $0.075 Unlisted Options on 20 November 2024
director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ | Expiryunlisted options exercisable at $0.075 until 20 November 2024 | 9,000,000 | —Non Cash | — | — |
| 2024-11-20 | Roger Craig MasonResComp Pty Ltd as trustee for Newport Superannuation Fund
Details & evidence for Roger Craig Mason on 2024-11-20Option expiry on 20 November is the stated nature of change; notice reports change date 21 November. As disclosed: Expiry of $0.075 Unlisted Options on 20 November 2024
Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ | Expiryunlisted options exercisable at $0.075 until 20 November 2024 | 12,000,000 | —Non Cash | — | — |
| 2024-11-20 | Peter Stanley BuckBuck Superannuation Fund
Details & evidence for Peter Stanley Buck on 2024-11-20Option expiry on 20 November is the stated nature of change; notice reports change date 21 November. As disclosed: Expiry of $0.075 Unlisted Options on 20 November 2024
Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ | Expiryunlisted options exercisable at $0.075 until 20 November 2024 | 6,000,000 | —Non Cash | — | — |
| 2024-11-20 | Mark Trevor RoddaSodelu Pty Ltd as trustee for Sodelu Trust
Details & evidence for Mark Trevor Rodda on 2024-11-20Option expiry on 20 November is the stated nature of change; notice reports change date 21 November. As disclosed: Expiry of $0.075 Unlisted Options on 20 November 2024
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ | Expiryunlisted options exercisable at $0.075 until 20 November 2024 | 9,000,000 | —Non Cash | — | — |
| 2024-11-20 | Mark Trevor RoddaMafiro Pty Ltd as trustee for Mafiro Unit Trust
Details & evidence for Mark Trevor Rodda on 2024-11-20Option expiry on 20 November is the stated nature of change; notice reports change date 21 November. Mafiro appears in both Rodda and Power notices and is recorded once. As disclosed: Expiry of $0.075 Unlisted Options on 20 November 2024
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ | Expiryunlisted options exercisable at $0.075 until 20 November 2024 | 3,000,000 | —Non Cash | — | — |
| 2024-11-20 | Gary Donald Johnson
Details & evidence for Gary Donald Johnson on 2024-11-20Option expiry on 20 November is the stated nature of change; notice reports change date 21 November. As disclosed: Expiry of $0.075 Unlisted Options on 20 November 2024
Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x5) ↗ | Expiryunlisted options exercisable at $0.075 until 20 November 2024 | 6,000,000 | —Non Cash | — | — |
| 2024-08-16 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2024-08-16Quantity is as disclosed on the issue date, before later capital changes. As disclosed: Issue of Placement Shares and free attaching Placement Options following shareholder approval
director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ | Subscriptionfully paid ordinary shares | 1,500,000 | AUD 15,000.00 | AUD 0.01Calculated average | — |
| 2024-08-16 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2024-08-16Quantity is as disclosed on the issue date, before later capital changes. As disclosed: Issue of Placement Shares and free attaching Placement Options following shareholder approval
director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ | Grantunlisted options exercisable at $0.02 until 16 August 2026 | 750,000 | —Non Cash | — | — |
| 2024-08-16 | Roger Craig MasonResComp Pty Ltd as trustee for Newport Superannuation Fund
Details & evidence for Roger Craig Mason on 2024-08-16Quantity is as disclosed on the issue date, before later capital changes. As disclosed: Issue of Placement Shares and free attaching Placement Options following shareholder approval
Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ | Subscriptionfully paid ordinary shares | 1,500,000 | AUD 15,000.00 | AUD 0.01Calculated average | — |
| 2024-08-16 | Roger Craig MasonResComp Pty Ltd as trustee for Newport Superannuation Fund
Details & evidence for Roger Craig Mason on 2024-08-16Quantity is as disclosed on the issue date, before later capital changes. As disclosed: Issue of Placement Shares and free attaching Placement Options following shareholder approval
Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ | Grantunlisted options exercisable at $0.02 until 16 August 2026 | 750,000 | —Non Cash | — | — |
| 2024-08-16 | Mark Trevor RoddaMurphy Rodda Superannuation Fund
Details & evidence for Mark Trevor Rodda on 2024-08-16Quantity is as disclosed on the issue date, before later capital changes. The notice identifies the Murphy Rodda Superannuation Fund specifically as a direct interest, while its general direct-or-indirect field says indirect; the account-specific description is used here and the conflict remains unresolved. As disclosed: Issue of Placement Shares and free attaching Placement Options following shareholder approval
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ | Subscriptionfully paid ordinary shares | 1,500,000 | AUD 15,000.00 | AUD 0.01Calculated average | — |
| 2024-08-16 | Mark Trevor RoddaMurphy Rodda Superannuation Fund
Details & evidence for Mark Trevor Rodda on 2024-08-16Quantity is as disclosed on the issue date, before later capital changes. The notice identifies the Murphy Rodda Superannuation Fund specifically as a direct interest, while its general direct-or-indirect field says indirect; the account-specific description is used here and the conflict remains unresolved. As disclosed: Issue of Placement Shares and free attaching Placement Options following shareholder approval
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ Change of Director's Interest Notice (x3) ↗ | Grantunlisted options exercisable at $0.02 until 16 August 2026 | 750,000 | —Non Cash | — | — |
| 2023-11-22 | Mark Trevor RoddaMafiro Pty Ltd as trustee for Mafiro Unit Trust
Details & evidence for Mark Trevor Rodda on 2023-11-22Same Mafiro expiry appears in both Rodda and Power notices; recorded once. As disclosed: Nil – expiry of options
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice (x5) ↗ Change of Director's Interest Notice (x2) - Amended ↗ Change of Director's Interest Notice (x2) - Amended ↗ | Expiryunlisted options exercisable at $0.019 until 22 November 2023 | 3,000,000 | —Non Cash | — | — |
| 2023-11-22 | Mark Trevor RoddaSodelu Pty Ltd as trustee for Sodelu Trust
Details & evidence for Mark Trevor Rodda on 2023-11-22As disclosed: Nil – expiry of options
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice (x5) ↗ | Expiryunlisted options exercisable at $0.019 until 22 November 2023 | 9,000,000 | —Non Cash | — | — |
| 2023-11-22 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2023-11-22The amended notice reports 12,000,000 total expiry across Eugene Trust and Mafiro. As disclosed: Nil – expiry of options
director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Director's Interest Notice (x2) - Amended ↗ | Expiryunlisted options exercisable at $0.019 until 22 November 2023 | 9,000,000 | —Non Cash | — | — |
| 2023-11-22 | Roger Craig MasonRoger Craig Mason as trustee for Mason Family Trust
Details & evidence for Roger Craig Mason on 2023-11-22Amended notice corrects original 6,000,000 expiry to 12,000,000. As disclosed: Nil – expiry of options
Replaces 1 earlier record(s). Change of Director's Interest Notice (x2) - Amended ↗ | Expiryunlisted options exercisable at $0.019 until 22 November 2023 | 12,000,000 | —Non Cash | — | — |
| 2023-11-22 | Gary Donald Johnson
Details & evidence for Gary Donald Johnson on 2023-11-22As disclosed: Nil – expiry of options
Change of Director's Interest Notice (x5) ↗ | Expiryunlisted options exercisable at $0.019 until 22 November 2023 | 6,000,000 | —Non Cash | — | — |
| 2023-11-22 | Peter Stanley BuckBuck Superannuation Fund
Details & evidence for Peter Stanley Buck on 2023-11-22As disclosed: Nil – expiry of options
Change of Director's Interest Notice (x5) ↗ | Expiryunlisted options exercisable at $0.019 until 22 November 2023 | 6,000,000 | —Non Cash | — | — |
| 2023-11-17 | Mark Trevor RoddaSodelu Pty Ltd as trustee for Sodelu Trust
Details & evidence for Mark Trevor Rodda on 2023-11-17As disclosed: Nil – grant of options
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice (x5) ↗ | Grantunlisted options exercisable at $0.023 until 16 November 2027 | 12,000,000 | —Non Cash | — | — |
| 2023-11-17 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2023-11-17Amended notice corrects original 12,000,000 grant to 9,000,000. As disclosed: Nil – grant of options
Replaces 1 earlier record(s). director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Director's Interest Notice (x2) - Amended ↗ | Grantunlisted options exercisable at $0.023 until 16 November 2027 | 9,000,000 | —Non Cash | — | — |
| 2023-11-17 | Roger Craig MasonResComp Pty Ltd as trustee for Newport Superannuation Fund
Details & evidence for Roger Craig Mason on 2023-11-17Amended notice corrects original 6,000,000 grant to 15,000,000. As disclosed: Nil – grant of options
Replaces 1 earlier record(s). Change of Director's Interest Notice (x2) - Amended ↗ | Grantunlisted options exercisable at $0.023 until 16 November 2027 | 15,000,000 | —Non Cash | — | — |
| 2023-11-17 | Gary Donald Johnson
Details & evidence for Gary Donald Johnson on 2023-11-17As disclosed: Nil – grant of options
Change of Director's Interest Notice (x5) ↗ | Grantunlisted options exercisable at $0.023 until 16 November 2027 | 6,000,000 | —Non Cash | — | — |
| 2023-11-17 | Peter Stanley BuckBuck Superannuation Fund
Details & evidence for Peter Stanley Buck on 2023-11-17As disclosed: Nil – grant of options
Change of Director's Interest Notice (x5) ↗ | Grantunlisted options exercisable at $0.023 until 16 November 2027 | 6,000,000 | —Non Cash | — | — |
| 2023-10-06 | Roger Craig MasonResComp Pty Ltd as trustee for Newport Superannuation Fund
Details & evidence for Roger Craig Mason on 2023-10-06Account allocation follows the reported before-and-after holdings; source totals include other accounts. As disclosed: Shares acquired pursuant to non-renounceable rights issue; one free attaching option per two shares
Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | Subscriptionfully paid ordinary shares | 132,190 | — | AUD 0.013Disclosed price | — |
| 2023-10-06 | Roger Craig MasonResComp Pty Ltd as trustee for Newport Superannuation Fund
Details & evidence for Roger Craig Mason on 2023-10-06Account allocation follows the reported before-and-after holdings; source totals include other accounts. As disclosed: Shares acquired pursuant to non-renounceable rights issue; one free attaching option per two shares
Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | Grantunlisted options exercisable at $0.02 on or before 23 October 2025 | 66,095 | —Non Cash | — | — |
| 2023-10-06 | Roger Craig MasonRoger Craig Mason as trustee for Mason Family Trust
Details & evidence for Roger Craig Mason on 2023-10-06Account allocation follows the reported before-and-after holdings; source totals include other accounts. As disclosed: Shares acquired pursuant to non-renounceable rights issue; one free attaching option per two shares
Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | Subscriptionfully paid ordinary shares | 432,683 | — | AUD 0.013Disclosed price | — |
| 2023-10-06 | Roger Craig MasonRoger Craig Mason as trustee for Mason Family Trust
Details & evidence for Roger Craig Mason on 2023-10-06Account allocation follows the reported before-and-after holdings; source totals include other accounts. The after-holding line prints expiry 23 October 2023, while the class description and associated account show 23 October 2025; the discrepancy is retained. As disclosed: Shares acquired pursuant to non-renounceable rights issue; one free attaching option per two shares
Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | Grantunlisted options exercisable at $0.02 on or before 23 October 2025 | 216,341 | —Non Cash | — | — |
| 2023-10-06 | Peter Stanley BuckBuck Superannuation Fund
Details & evidence for Peter Stanley Buck on 2023-10-06Account allocation follows the reported before-and-after holdings; source totals include other accounts. As disclosed: Shares acquired pursuant to non-renounceable rights issue; one free attaching option per two shares
Change of Director's Interest Notice - Buck ↗ Change of Director's Interest Notice - Buck ↗ | Subscriptionfully paid ordinary shares | 622,697 | — | AUD 0.013Disclosed price | — |
| 2023-10-06 | Peter Stanley BuckBuck Superannuation Fund
Details & evidence for Peter Stanley Buck on 2023-10-06Account allocation follows the reported before-and-after holdings; source totals include other accounts. As disclosed: Shares acquired pursuant to non-renounceable rights issue; one free attaching option per two shares
Change of Director's Interest Notice - Buck ↗ Change of Director's Interest Notice - Buck ↗ | Grantunlisted options exercisable at $0.02 on or before 23 October 2025 | 311,348 | —Non Cash | — | — |
| 2023-10-06 | Mark Trevor RoddaSodelu Pty Ltd as trustee for Sodelu Trust
Details & evidence for Mark Trevor Rodda on 2023-10-06Account allocation follows the reported before-and-after holdings; source totals include other accounts. As disclosed: Shares acquired pursuant to non-renounceable rights issue; one free attaching option per two shares
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice - Rodda ↗ Change of Director's Interest Notice - Rodda ↗ | Subscriptionfully paid ordinary shares | 663,461 | — | AUD 0.013Disclosed price | — |
| 2023-10-06 | Mark Trevor RoddaSodelu Pty Ltd as trustee for Sodelu Trust
Details & evidence for Mark Trevor Rodda on 2023-10-06Account allocation follows the reported before-and-after holdings; source totals include other accounts. As disclosed: Shares acquired pursuant to non-renounceable rights issue; one free attaching option per two shares
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice - Rodda ↗ Change of Director's Interest Notice - Rodda ↗ | Grantunlisted options exercisable at $0.02 on or before 23 October 2025 | 331,730 | —Non Cash | — | — |
| 2023-10-06 | Mark Trevor RoddaNapier Capital Pty Ltd
Details & evidence for Mark Trevor Rodda on 2023-10-06Account allocation follows the reported before-and-after holdings; source totals include other accounts. Same Napier interest appears in Power and Rodda notices and is recorded once. As disclosed: Shares acquired pursuant to non-renounceable rights issue; one free attaching option per two shares
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice - Rodda ↗ Change of Director's Interest Notice - Rodda ↗ Change of Director's Interest Notice - Power ↗ Change of Director's Interest Notice - Power ↗ | Subscriptionfully paid ordinary shares | 57,692 | — | AUD 0.013Disclosed price | — |
| 2023-10-06 | Mark Trevor RoddaNapier Capital Pty Ltd
Details & evidence for Mark Trevor Rodda on 2023-10-06Account allocation follows the reported before-and-after holdings; source totals include other accounts. Same Napier interest appears in Power and Rodda notices and is recorded once. As disclosed: Shares acquired pursuant to non-renounceable rights issue; one free attaching option per two shares
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice - Rodda ↗ Change of Director's Interest Notice - Rodda ↗ Change of Director's Interest Notice - Power ↗ Change of Director's Interest Notice - Power ↗ | Grantunlisted options exercisable at $0.02 on or before 23 October 2025 | 28,846 | —Non Cash | — | — |
| 2023-10-06 | Mark Trevor RoddaMurphy Rodda Superannuation Fund
Details & evidence for Mark Trevor Rodda on 2023-10-06Account allocation follows the reported before-and-after holdings; source totals include other accounts. The notice identifies the Murphy Rodda Superannuation Fund specifically as a direct interest, while its general direct-or-indirect field says indirect; the account-specific description is used here and the conflict remains unresolved. As disclosed: Shares acquired pursuant to non-renounceable rights issue; one free attaching option per two shares
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice - Rodda ↗ Change of Director's Interest Notice - Rodda ↗ Change of Director's Interest Notice - Rodda ↗ | Subscriptionfully paid ordinary shares | 618,119 | — | AUD 0.013Disclosed price | — |
| 2023-10-06 | Mark Trevor RoddaMurphy Rodda Superannuation Fund
Details & evidence for Mark Trevor Rodda on 2023-10-06Account allocation follows the reported before-and-after holdings; source totals include other accounts. The notice identifies the Murphy Rodda Superannuation Fund specifically as a direct interest, while its general direct-or-indirect field says indirect; the account-specific description is used here and the conflict remains unresolved. As disclosed: Shares acquired pursuant to non-renounceable rights issue; one free attaching option per two shares
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice - Rodda ↗ Change of Director's Interest Notice - Rodda ↗ Change of Director's Interest Notice - Rodda ↗ | Grantunlisted options exercisable at $0.02 on or before 23 October 2025 | 309,059 | —Non Cash | — | — |
| 2023-10-06 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2023-10-06Eugene Trust only; the separately held Napier acquisition appears once under Rodda with both notices cited. As disclosed: Fully paid ordinary shares acquired pursuant to the Company’s Non-Renounceable Rights Issue
director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Director's Interest Notice - Power ↗ | SubscriptionFully Paid Ordinary Shares | 2,384,487 | — | AUD 0.013Disclosed price | 64,381,152 |
| 2023-10-06 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2023-10-06Eugene Trust only. The 1,221,089 total included 28,846 free options held by Napier Capital; those appear once under Rodda. As disclosed: Nil (free attaching options)
director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Director's Interest Notice - Power ↗ | GrantUnlisted Options exercisable at A$0.02 on or before 2025-10-23 | 1,192,243 | —Non Cash | — | — |
| 2023-08-02 | Mark Trevor RoddaLochmara Super Fund
Details & evidence for Mark Trevor Rodda on 2023-08-02Relevant-interest relationship ceased; this was not reported as a sale or transfer of the shares. As disclosed: Mr Rodda has resigned as the sole director of Kenepuru Pty Ltd (the trustee of the Lochmara Super Fund) and as such, no longer has a relevant interest in these shares.
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice ↗ | OtherFully Paid Ordinary Shares | 1,220,720 | —Not Disclosed | — | — |
| 2023-05-19 | Stephen Michael PowerEugene Trust
Details & evidence for Stephen Michael Power on 2023-05-19Share quantity is as disclosed before later capital changes. As disclosed: 1,000,000 ordinary shares; $15,000; On-market trade – purchase
director · 2023-01-01 Eugene Trust · indirect interest through registered holder Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | Purchasefully paid ordinary shares | 1,000,000 | AUD 15,000.00 | AUD 0.015Calculated average | 61,996,665 |
| 2023-05-18 | Mark Trevor RoddaMurphy Rodda Superannuation Fund
Details & evidence for Mark Trevor Rodda on 2023-05-18The notice identifies the Murphy Rodda Superannuation Fund specifically as a direct interest, while its general direct-or-indirect field says indirect; the account-specific description is used here and the conflict remains unresolved. As disclosed: On market trade - purchase
director · 2023-01-01 Murphy Rodda Superannuation Fund · director interest through joint trusteeship Lochmara Super Fund · ceased indirect interest after resignation as trustee director Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | PurchaseFully Paid Ordinary Shares | 710,000 | AUD 9,794.00 | AUD 0.013794Calculated average | 16,071,110 |
Disclosed holding observations1 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 |
|---|---|---|---|---|
| 2025-08-13 | Neil Fredrick Warburton
Details & evidence for Neil Fredrick Warburton on 2025-08-13Initial disclosed position at appointment; no transaction asserted.
Initial Director's Interest Notice - Neil Warburton ↗ Initial Director's Interest Notice - Neil Warburton ↗ | Initialunlisted options exercisable at A$0.83 until 12 August 2029 | 600,000 | — |
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Narrative and provenance
Research & Sources
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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