- Last 2026-11-06
- A$0.535
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
- Locked: sign in to view
- Mkt cap
- A$1.6B
- EV
- A$2.3B
- Cash
- A$110.3M
- Debt
- A$829.5M
Investment view
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Sign in or enter a guest codeAnnouncements
Latest 12 of 20All sources ▸- September 2026 Quarterly Activities ReportOperations
- September 2026 Quarterly UpdatePresentation
- Notice of Annual General Meeting/Proxy FormGovernance
- Notification of cessation of securities - BCICorporate Action
- Application for quotation of securities - BCICorporate Action
- BCI Board ChangesLeadership
- Notification of cessation of securities - BCICorporate Action
- Change of Director's Interest Notice - D BoshoffGovernance
- FY26 Annual ReportResults
- Appendix 4EResults
- FY26 Full Year ResultsResults
- June 2026 Quarterly Activities ReportOperations
Event calendar · next 12 months
12 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| Late calendar 2026 | CY2027 contract-year price negotiations with offtake partners | Economic Arrangement | Company Guided | High | The first realised salt prices reset the revenue deck: confidential negotiations are due in late CY2026 and set pricing for the first contract year. |
| Calendar 2026 | Jetty wet commissioning and Osprey transhipper arrival | Construction Or Commissioning | Company Guided | High | Wet commissioning of the jetty and arrival of the interim transhipper are prerequisites for the first shipment. |
| December 2026 quarter | Final SOP batch test work report | Study | Company Guided | Medium | Determines the SOP pilot flowsheet and whether the full-scale SOP option progresses. |
| Late calendar 2026 | Salt wash plant construction complete | Construction Or Commissioning | Company Guided | High | The wash plant is on the path to first harvest and sale; steel erection and mechanical installation were still ahead at 30 September 2026. |
| November 2026 | Fourth crystalliser train handed to operations (lined cells above 57%) | Construction Or Commissioning | Company Guided | Medium | More lined crystalliser area raises harvestable capacity ahead of first salt. |
| 20 November 2026 | 2026 annual general meeting; Ian Hansen election and Chris Salisbury departure | Governance | Confirmed | Medium | Board renewal: the Audit and Risk chair leaves and a former Wesfarmers chemicals chief executive joins as the plant moves into operation. |
| Q1 calendar 2027 (up to six months later if weather is cool or wet) | Operational readiness for first salt on ship and first revenue | Production | Company Guided | High | First sales convert the project from a funded construction story into operating cash flow; the timing has already slipped from the 2H 2026 plan in the February 2024 booklet. |
| Early calendar 2027 | Pilbara Ports road upgrade complete | Construction Or Commissioning | Company Guided | Medium | Last major civil package for the export route. |
| End of March 2027 quarter | SOP pilot plant detailed design complete | Study | Company Guided | Medium | Starts procurement and modular build; piloting runs about 12 months before a full-scale SOP decision. |
| Late February 2027 (inferred from 24 February 2026 timing) | FY27 half-year results | Results | Inferred | Medium | Shows cash, drawn debt and cost to complete against the A$1,443m budget. |
| Final quarter of FY27 (the June 2026 quarterly said March 2027; the September 2026 quarterly says progressive completion through the final quarter of FY27) | Crystalliser lining programme complete | Construction Or Commissioning | Company Guided | High | All seven trains are needed for nameplate 5.35Mtpa; 16 of 28 cells remained unlined at 30 September 2026. |
| Late August 2027 (inferred from 19 August 2026 timing) | FY27 results and annual report | Results | Inferred | Medium | First audited year with salt sales and the revised ramp-up profile. |
Executive roster
As of 2026-10-31Background checks ▸Executive director, CFO and the named leadership team in the FY26 annual report (pages 14-19) and the KMP list (page 90); the September 2026 board announcement changes non-executive directors only and non-executive directors are excluded.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| David Boshoff | Managing Director | Chief Executive · Executive Director | 2022-11-21 | FY26 Annual Report |
| Steve Fewster | Chief Financial Officer | Finance | 2023-12-04 | FY26 Annual Report |
| Robert Mancini | Chief Legal and Commercial Officer · Joint Company Secretary | Commercial · Company Secretary | 2025-01-20 | FY26 Annual Report |
| Elizabeth Shaw | Joint Company Secretary | Company Secretary | 2025-05-01 | FY26 Annual Report |
| Tim Deighton | Project Director | Operations · Senior Management | 2023-04-01 | FY26 Annual Report |
| Mhairi Cameron | General Manager Operations | Operations | 2025-05-01 | FY26 Annual Report |
| Tammie Miller | Head of People and External Affairs | Senior Management | 2024-06-01 | FY26 Annual Report |
| Shaun Meredith | Head of Environment and Heritage | Senior Management | 2024-03-01 | FY26 Annual Report |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Mardie Salt Operation and Mardie Port
AU
Construction 90% complete (87% including crystalliser lining); 266kt crystallised; 12 of 28 crystalliser cells commissioned; operationally ready for first salt on ship by Q1 CY2027 but weather dependent; A$178m construction cost to complete inside the A$1,443m budget.
- Study
- Optimised feasibility study base case (June 2023), salt-first case restated in the February 2024 equity raising booklets
- Post-tax NPV (study prices, attributable)
- —
- NPV restated at our deck (attributable)
- Locked
- IRR
- —
- Initial capex (100%)
- A$1.4bs
- Capital intensity
- A$270/(t/yr)d
- LoM AISC
- A$23.73/ts
- Mine life
- 60.0 yrsg
Salt-first, pre-tax, real, ungeared, from the start of construction (1,220+602 on the sensitivity chart); capex is the nominal A$1,287m plus A$156m contingency.
Milestones6
- Operational readiness for first salt on ship (weather dependent)
Pending · High materiality
- Salt wash plant complete
Pending · High materiality
- Crystalliser lining complete (seven trains)
Pending · High materiality
- Port construction complete and jetty wet commissioning
Pending · Medium materiality
- Pilbara Ports road upgrade complete
Pending · Medium materiality
- Mardie Spirit transhipment vessel delivered (CY2027)
Pending · Medium materiality
Permits & approvals2
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Offshore placement of dredge material (Commonwealth and State) | Commonwealth and Western Australia | Granted | — | Yes |
| Regulator engagement on potential iron ore export through Mardie Port | Western Australia | Required | — | No |
Economic studies1
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| Mardie optimised feasibility study base case, salt-first case (February 2024 equity raising) | Updated Feasibility | Reaffirmed | 2024-02-01 | Pre-tax, real, ungeared project NPV of about A$1.8bn at a 7% real discount rate from the start of construction; 5.35Mtpa salt, US$64.7/t CIF real long-term price, US$11.2/t freight, A$23.73/t FOB AISC, AUD/USD 0.69 from 2026, steady state EBITDA A$286m. The company states in September 2026 that all material assumptions continue to apply unless disclosed otherwise. |
Material
Mardie Sulphate of Potash (staged pilot)
AU
Pilot stage: KTMS trial crystallisers at steady state; 150kg/hr containerised pilot plant contracted to Bluestar Lehigh (detailed design by March 2027, about 12 months of piloting, then a full-scale FID); no committed full-scale capital.
- Study
- Salt plus SOP base case (February 2024 equity raising booklet); SOP plant not approveds
- Post-tax NPV (study prices, attributable)
- —
- NPV restated at our deck (attributable)
- Locked
- IRR
- —
- Initial capex (100%)
- A$186.0md
- Capital intensity
- A$1,329/(t/yr)d
- LoM AISC
- A$363/ts
- Mine life
- 60.0 yrsg
Salt plus SOP, pre-tax, real, ungeared; capex A$1,421m plus A$208m contingency for the entire project (salt-first A$1,287m plus A$156m); incremental to salt-first NPV about A$0.8bn.
Milestones2
- Final SOP batch test work report
Pending · Medium materiality
- SOP pilot plant detailed design complete
Pending · Medium materiality
Economic studies1
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| Mardie salt plus SOP base case (February 2024 equity raising) | Updated Feasibility | Current | 2024-02-01 | Pre-tax, real, ungeared NPV about A$2.6bn for salt plus 140ktpa SOP at US$708/t FOB real, A$363/t AISC, steady state EBITDA A$385m; the SOP plant is not approved and needs further funding and lender approval. |
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
Available funds fell from A$601m (Dec 2025) to A$316m (Sep 2026) against A$178m of construction cost still to complete, leaving about A$138m of headroom before the ramp-up working capital and first-year operating losses. Drawn debt is A$705.6m of the A$830m main facility, A$124.4m remains undrawn plus the A$81m cost overrun facility; the A$48.3m of bank guarantees sit on a separate A$70m limit. Series 3 notes of about A$124m accrete to A$151.9m by December 2030.
Inventory composition1
First inventory recognised at 30 June 2026: salt in suspension in the ponds and crystallisers at cost; 266kt had crystallised by 30 September 2026.
- Suspended salt work in progress (current 8.2m and non-current 11.1m) at 30 June 2026
- A$19.3M carrying
Capital structure
Ownership and dilution
- Ordinary shares
- 2.9B
- Fully diluted
- 3B
2,937,579,809 shares at 30 June 2026 (after 50,066,748 issued on 23 December 2025 on conversion of the Series 1 convertible notes) plus 2,519,164 shares issued on 18 September 2026 on rights conversion gives 2,940,098,973. Fully diluted adds 23,960,422 unquoted rights remaining after the 21 August and 12 October 2026 lapses. The 160,384,924 Series 3 notes (A$0.5811 conversion price, above the A$0.525 close) are excluded from the fully diluted count and valued as debt, with conversion tested in the valuation scenarios.
Security classes7
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| 2022 performance rights (BCIAT) | Performance Right | 2M | — | — |
| 2023 performance rights (BCIAB) | Performance Right | 3.4M | — | — |
| 2024 performance rights (BCIAAA) | Performance Right | 5.3M | — | — |
| 2025 performance rights (BCIAC) | Performance Right | 6.6M | — | — |
| 2024 share rights (BCIAAB) | Performance Right | 2.9M | — | — |
| 2025 share rights (BCIAD) | Performance Right | 3.7M | — | — |
| Series 3 convertible notes held by AustralianSuper (BCIAV): A$100m face, 5% capitalised quarterly, convertible at A$0.5811 per share (about 261.8m shares at maturity), maturity December 2030, issuer redemption from December 2027 | Convertible | 160.4M | A$0.581 | 2030-12-31 |
Actuals and forecasts
Financial statements
| AUD | Unit | Trend | FY25 actualA | FY26 actualA |
|---|---|---|---|---|
| Operations | ||||
| Salt sold | Mt | 0.00 | 0.00 | |
| Profit and loss | ||||
| Revenue (salt sales) | AUDm | 0.0 | 0.0 | |
| EBITDA | AUDm | (47.6) | (43.8) | |
| Depreciation and amortisation | AUDm | 5.0 | 4.4 | |
| Net interest expense (negative = income) | AUDm | (5.6) | (4.6) | |
| Income tax expense (negative = benefit) | AUDm | 0.0 | (92.9) | |
| Impairment and other items | AUDm | 0.0 | 18.5 | |
| NPAT | AUDm | (47.0) | 30.8 | |
| Cash flow | ||||
| Operating cash flow | AUDm | (8.7) | 1.1 | |
| Total capex | AUDm | 403.9 | 299.0 | |
| Free cash flow (after interest and corporate costs) | AUDm | (412.6) | (297.9) | |
| Debt drawn | AUDm | 236.1 | 350.5 | |
| Debt repaid | AUDm | 0.0 | 0.0 | |
| Balance sheet | ||||
| Cash at period end | AUDm | 77.8 | 98.3 | |
| Borrowings (syndicated facility plus convertible notes) | AUDm | 369.0 | 698.2 | |
| Net debt | AUDm | 291.2 | 599.9 | |
| Per share | ||||
| Ordinary shares (period end; fully diluted in forecasts) | m shares | 2,887.5 | 2,937.6 | |
| Earnings per share | AUD/share | (0.02) | 0.01 | |
| Dividends per share | AUD/share | 0.00 | 0.00 | |
| Multiples and ratios | ||||
| EV / EBITDA (x, current EV) | x | (47.5) | (51.7) | |
| P / E (x, current market cap) | x | (32.8) | 50.1 | |
| FCF yield (current market cap) | % | -26.7% | -19.3% | |
| EBITDA margin | % | — | — | |
| Net debt / EBITDA (x) | x | (6.1) | (13.7) | |
KPI history
Operating metrics
Operating metric source table16
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Crystallised salt in crystallisers at quarter end (kt) | Mardie Salt | Q2 FY26 (Dec 2025) | Point In Time | 0 kt | Reported |
| Cumulative Mardie expenditure (A$m) | Mardie Salt | Q2 FY26 (Dec 2025) | Point In Time | 1,298 A$m | Reported |
| Estimated construction cost to complete (A$m) | Mardie Salt | Q2 FY26 (Dec 2025) | Point In Time | 400 A$m | Reported |
| Crystallised salt in crystallisers at quarter end (kt) | Mardie Salt | Q3 FY26 (Mar 2026) | Point In Time | 0 kt | Reported |
| Cumulative Mardie expenditure (A$m) | Mardie Salt | Q3 FY26 (Mar 2026) | Point In Time | 1,369 A$m | Reported |
| Estimated construction cost to complete (A$m) | Mardie Salt | Q3 FY26 (Mar 2026) | Point In Time | 333 A$m | Reported |
| Crystallised salt in crystallisers at quarter end (kt) | Mardie Salt | Q4 FY26 (Jun 2026) | Point In Time | 49 kt | Reported |
| Cumulative Mardie expenditure (A$m) | Mardie Salt | Q4 FY26 (Jun 2026) | Point In Time | 1,479 A$m | Reported |
| Estimated construction cost to complete (A$m) | Mardie Salt | Q4 FY26 (Jun 2026) | Point In Time | 258 A$m | Reported |
| Crystallised salt in crystallisers at quarter end (kt) | Mardie Salt | Q1 FY27 (Sep 2026) | Point In Time | 266 kt | Reported |
| Cumulative Mardie expenditure (A$m) | Mardie Salt | Q1 FY27 (Sep 2026) | Point In Time | 1,586 A$m | Reported |
| Estimated construction cost to complete (A$m) | Mardie Salt | Q1 FY27 (Sep 2026) | Point In Time | 178 A$m | Reported |
| Cash and cash equivalents (A$m) | Mardie Salt | FY26 (30 Jun 2026) | Point In Time | 98.3 A$m | Reported |
| Cash at bank (A$m) | Mardie Salt | Q1 FY27 (Sep 2026) | Point In Time | 110.3 A$m | Reported |
| Syndicated facility drawn (A$m) | Mardie Salt | Q1 FY27 (Sep 2026) | Point In Time | 705.6 A$m | Reported |
| Syndicated facility drawn (A$m) | Mardie Salt | FY26 (30 Jun 2026) | Point In Time | 586.6 A$m | Reported |
Company guidance4
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Operational Readiness For First Salt On Ship (Calendar Quarter Ending) | mardie-salt | Q1 CY2027, weather dependent; up to six months later in cool or wet conditions | — | — date 2027-03-31 | Current |
| Nameplate Salt Production At Steady State | mardie-salt | Steady state (company target 5.35Mtpa) | 5,100,000 | 5,500,000 t/yr | Current |
| Salt First Construction Budget Including Contingency | mardie-salt | Whole project, A$178m still to complete at 30 September 2026 | 1,443,000,000 | 1,443,000,000 AUD | Current |
| Crystalliser Lining Programme Completion (28 Cells, 7 Trains) | mardie-salt | Final quarter of FY27, to about May-June 2027 (16 cells still to line at 30 September 2026) | — | — date 2027-06-30 | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-09-30Ann. 2026-10-20 | Debt | A$119M | — | — | Completed | — |
| 2026-06-30Ann. 2026-08-19 | Debt | A$350.5M | — | — | Completed | — |
| 2025-12-23 | Raising | A$29M | 50.1M | — | Completed | — |
| 2024-02-05Ann. 2024-02-01 | Raising | A$315M | — | — | 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.
Three binding salt offtakes, the CSL transhipment contract, FX and diesel hedges and contingent iron ore royalties are recorded from the FY24-FY26 annual reports and 2026 quarterlies; offtake volumes, price formulae and the third offtake counterparty are not published, so coverage is partial.
Binding salt offtake for the China market; volumes and the pricing formula are not disclosed. Pricing is set in the year before delivery with reference to prevailing market prices, so BCI keeps price exposure.
Offtake · Active- Counterparties
- Wanhua Chemicals (China)
- Applies to
- Mardie Salt Operation and Mardie Port · Others
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- Term and pricing: three-year supply term with options to extend three or five years; price reset annually or biannually by reference to market
Share of years 1-3 forecast volume: 62 %
No valuation treatment is available for this arrangement.
Initial three-year supply to a proposed world-scale chlor-alkali plant, 300ktpa rising to 600ktpa, with an option to extend three years; market-linked pricing.
Offtake · Active- Counterparties
- PT Chandra Asri Pacific subsidiary (Indonesia)
- Applies to
- Mardie Salt Operation and Mardie Port · Others
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- Volume year 1: 300,000 t/yr
Volume years 2-3: 600,000 t/yr
Extension option: three years
No valuation treatment is available for this arrangement.
Third binding offtake (FY25) lifted contracted volume to 62% of forecast years 1-3 salt production across China, Japan, Korea, Indonesia and Taiwan; Sojitz hosted a salt customer at Mardie in September 2026.
Offtake · Active- Counterparties
- Trading house for Japan, Korea and Taiwan (not named in the FY26 report)
- Applies to
- Mardie Salt Operation and Mardie Port · Others
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- Contract term: three-year terms with extension options
No valuation treatment is available for this arrangement.
CSL operates the transhipment fleet (interim Osprey, then the 16,000dwt Mardie Spirit under construction) that loads ocean-going vessels up to Newcastlemax offshore; the cost sits inside the AISC.
Tolling Or Processing · Active- Counterparties
- CSL Australia Pty Ltd
- Applies to
- Mardie Salt Operation and Mardie Port · Others
- Economic direction
- Burden
- Period
- From 2024-06-30; no end date stated
- Key terms
- Contract value: 598,000,000 AUD
Average annual charge: 28,500,000 AUD/yr
No valuation treatment is available for this arrangement.
USD forward contracts and option collars over forecast salt sales in 2027-2028; derivative asset A$9.8m at 30 June 2026. Small against about US$250m of annual sales at steady state.
FX Hedge · Active- Counterparties
- Not disclosed
- Applies to
- Mardie Salt Operation and Mardie Port · Others
- Economic direction
- Benefit
- Period
- Through 2028-06-30; start date not stated
- Key terms
- Forward notional: 55,300,000 USD
Call options notional: 96,000,000 USD
Put options notional: 55,300,000 USD
No valuation treatment is available for this arrangement.
Historic iron ore divestment royalties and deferred payments, recognised at nil (contingent assets) because receipt depends on third-party development decisions.
Royalty · Conditional- Counterparties
- Mineral Resources · Fortescue · Rio Tinto (Koodaideri) · Maiden Iron
- Applies to
- Company-wide · Others
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- Bungaroo South: 1% FOB royalty plus A$14.0m deferred consideration
Kumina: A$8.0m deferred consideration in two milestone payments
Nullagine: royalty over 75% of future iron ore mined
Koodaideri South: 2% FOB royalty (fully impaired to nil in FY26)
North Marillana: contingent consideration up to A$5.3m
No valuation treatment is available for this arrangement.
Sale of the Iron Valley iron ore assets to Mineral Resources; the last payment was received on 3 July 2026 and no further consideration is due.
Other · Expired- Counterparties
- Polaris Metals (Mineral Resources)
- Applies to
- Company-wide · Others
- Economic direction
- Benefit
- Period
- 2024-07-02 to 2026-07-03
- Key terms
- Total consideration: 72,600,000 AUD
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Bear, base and bull values, investment cases, project valuations and the equity bridge are available to subscribers.
Sign in or enter a guest codeResource-price transmission
Sensitivity lab
How our fair value responds to commodity prices and other drivers is available to subscribers.
Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
BCI's leadership combines mining operations, finance, legal/commercial, project delivery, stakeholder and environmental-approvals experience. Mardie made substantial construction and salt-crystallisation progress, but commercial shipment remains pending and the disclosed First Salt on Ship pathway moved beyond the former December 2026 quarter target. State and Commonwealth compliance records include company-level environmental non-compliances and paid infringements. Most outcomes are issuer-reported, individual causation is usually unproven, and the research remains screening-level.
Decision-relevant facts
Material summary
David Boshoff
Managing Director
Mardie advanced from pond filling to crystallised salt
BCI reported 49kt of crystallised salt and 85% construction progress at 30 June 2026, then 266kt and 90% progress at 30 September (87% including crystalliser lining). Available funding at September quarter-end was A$316m. This is meaningful commissioning progress, not a commercial shipment or evidence of personal causation.
Role overlaps event; causation unproven · Boshoff's MD tenure overlaps the milestones; the reports do not isolate his personal contribution.
First shipment moved beyond the prior December 2026 target
BCI's FY25 report and June 2025 quarterly said First Salt on Ship was targeted for the quarter ending 31 December 2026. By the 20 October 2026 quarterly, the pathway was described as CY2027 and timing remained weather/evaporation dependent. The disclosures support a schedule slip relative to the former target; they do not identify individual fault.
Role overlaps event; causation unproven · CEO role overlaps the schedule change, but the issuer attributes timing to natural evaporation and weather; personal causation is unproven.
Mardie had regulator-recorded environmental approval breaches during his tenure
DCCEEW's register lists two paid 2024 Mardie infringements totalling A$37,560 for operations before required management plans were approved and one paid 2025 notice of A$19,800 concerning a marine-fauna stop-order condition. BCI's own MS 1211 report separately records a March 2025 piling incident and other reporting non-compliances. Payment of the EPBC notices is not a conviction; sources do not establish Boshoff's personal conduct or causation.
Role overlaps event; causation unproven · The events occurred during his CEO tenure, but the regulator notices name Mardie Minerals and no personal act, negligence or liability by Boshoff is established.
Carmichael reached first export milestone during his Bravus leadership
BCI's 2022 appointment release says Boshoff led Carmichael's startup to full production during his 2019–2022 Bravus COO/CEO tenure. Bravus reported on 29 December 2021 that the first coal shipment had been assembled at the export terminal while he was CEO. Both sources are issuer statements and do not quantify his individual contribution to the wider mine economics.
Individual involvement documented · BCI and Bravus explicitly connect him to project leadership and the first shipment; no independent contribution or return analysis was found.
Evidence gaps · 4
- Exact Bravus role commencement and departure dates and independently measured production, cost, safety and return outcomes are not established.
- Mardie's first commercial shipment and steady-state performance remain pending; personal contribution to the reported project progress is not quantified.
- No personal responsibility for BCI environmental notices or safety metrics was established; final corrective-action and regulator follow-up records were not comprehensively reviewed.
- Qualifications and professional standing were not independently checked, and no exhaustive criminal, sanctions or litigation search was performed.
Steve Fewster
Chief Financial Officer
Fair Work Full Bench granted permission to appeal a Fortescue dismissal decision he made
In 2017 the Fair Work Commission identified Fewster as Fortescue's group manager of procurement and decision-maker in an employee's termination one week into a six-week performance improvement plan. The Full Bench found an arguable error because he was unaware the employee had engaged with the plan and requested more time, and it granted permission to appeal. The reviewed decision is interlocutory; the final appeal result was not located. It is not a criminal or regulatory finding against Fewster.
Individual involvement documented · The decision directly identifies his role in the termination and the procedural knowledge gap; it does not make a finding of personal dishonesty or professional misconduct.
Mardie financing remained available through the commissioning phase
BCI's syndicated facility was established before Fewster joined. During his BCI tenure, the company drew A$706m under the facility by September 2026 and reported A$316m of available funds. The funding position supports the project but does not establish Fewster's individual role in facility origination or project returns.
Role overlaps event; causation unproven · CFO tenure overlaps implementation and drawdowns; the reviewed documents do not attribute the facility or drawdowns specifically to him.
Broad finance and resources-sector experience
BCI describes Fewster as CFO from December 2023, with finance oversight across accounting, treasury, investor relations, marketing and IT. APM's 2021 annual report lists earlier CFO/company-secretarial roles, Fortescue operational portfolios and EY corporate-finance experience; it reports a Bachelor of Business, applied-finance postgraduate diploma and Chartered Accountant status.
Responsibility not applicable · The source biographies are employer-reported; dates and credentials were not verified against independent registries.
Evidence gaps · 3
- The final disposition of the 2017 Fair Work Commission appeal after permission was granted was not located.
- Prior finance-role dates, independently measured capital outcomes and current professional registration were not verified.
- No comprehensive employer-by-employer safety, environment, litigation or governance record was established.
Robert Mancini
Chief Legal and Commercial Officer; Joint Company Secretary
Issuer credits him with legal strategy for BHP's OZ Minerals acquisition
BCI's current biography says Mancini played a key role in the successful acquisition of OZ Minerals by BHP and oversaw legal strategy through the transaction and post-acquisition phase. OZ Minerals/BHP's 2022 annual report reports his legal and corporate-compliance work during a seven-year OZ tenure. These are issuer descriptions and do not quantify his individual contribution.
Individual involvement documented · BCI explicitly attributes legal strategy; the company report provides role context, not independent assessment.
Mardie regulator findings arose during his BCI legal, commercial and risk tenure
DCCEEW lists paid 2025 Mardie environmental infringement notices, including a December 2025 marine-fauna stop-order breach. BCI's 2024–25 MS 1211 report separately records a March 2025 piling incident and two late incident reports. Mancini joined in January 2025 and BCI states that he leads legal, commercial and risk functions; no source establishes that he controlled the specific field activity or caused the breaches.
Role overlaps event; causation unproven · Role and period overlap with legal/risk oversight; no personal involvement, negligent advice or culpability is demonstrated.
Evidence gaps · 3
- Exact tenure at Forge Group and any overlap with its 2014 administration/liquidation are unknown; no involvement in the causes was established.
- Current admission status and individual contribution to the OZ Minerals transaction or BCI outcomes were not independently verified.
- The relationship between BCI's environmental findings and his specific legal/risk decisions is not established; no exhaustive litigation or discipline search was performed.
Elizabeth Shaw
Joint Company Secretary
Corporate-law and company-secretarial experience
BCI's FY25 and FY26 annual reports describe Shaw as a corporate lawyer with more than 20 years' experience advising ASX-listed companies, joining BCI as Senior Corporate Counsel in September 2021 and becoming Joint Company Secretary on 1 May 2025. The FY25 report lists LLB, Bachelor of Economics and Graduate Diploma in Applied Finance. These are issuer-reported; admission and standing were not independently checked.
Responsibility not applicable · The company reports her role, experience and qualifications; no external professional-register check was completed.
Current secretary role is omitted from the undated senior-leadership page
BCI's current leadership webpage does not list Shaw, while the FY25 and FY26 annual reports list her as Joint Company Secretary. No cessation notice or superseding disclosure was found in the records reviewed; the selected roster is retained. This is a documentation/reconciliation gap rather than evidence that she left.
Responsibility not applicable · The reports support the appointment; the current webpage's omission does not prove cessation, and the exact current status was not independently reconfirmed by a dated notice.
Evidence gaps · 3
- The current undated leadership page omits Shaw; the latest annual report supports her role, but no later dated continuation or cessation notice was located.
- Qualifications, professional admission status, exact prior-employer chronology and individual legal outcomes were not independently checked.
- The project-finance role is company-level; no source reviewed establishes Shaw's specific work product or attributable outcome.
Tim Deighton
Project Director
Mardie construction progressed to 90% while he led the project
BCI reports Deighton as Project Director from April 2023. Mardie reached 85% construction completion by June 2026 and 90% by September (87% including liner works), with construction cost to date A$1.265bn and A$178m estimated cost to complete. These are issuer-reported progress figures; first shipment is pending.
Role overlaps event; causation unproven · Project oversight overlaps the reported construction progress; the reports do not isolate Deighton's personal contribution.
First shipment target shifted from December 2026 to calendar 2027
BCI previously targeted First Salt on Ship by the quarter ending 31 December 2026; its October 2026 quarterly described a CY2027 pathway, subject to weather and evaporation. The schedule change is relevant to the project director's remit but does not establish personal fault.
Role overlaps event; causation unproven · Role overlaps schedule management; BCI cites natural evaporation/weather and no individual causal finding.
ACCIONA reported a safe, timely module move under his project-director role
ACCIONA identified Deighton as Project Director on East Rockingham during the June 2021 transport of large preassembled boiler modules. Its account says the move was completed safely and in a timely manner. This documents a project milestone during his role, not sole contribution or final plant economics.
Role overlaps event; causation unproven · His project-director role overlapped the milestone, but ACCIONA does not assign exclusive personal responsibility.
Evidence gaps · 3
- The exact BCI commencement day and dates for ACCIONA, Primero and Mineral Resources roles are not established; the selected roster's 1 April 2023 date is unverified.
- No independent project-cost, safety, schedule or return series attributes Mardie performance to Deighton; first commercial shipment remains pending.
- No comprehensive prior-employer litigation, safety or environmental review was completed.
Mhairi Cameron
General Manager Operations
Salt crystallisation advanced during her operating leadership
Cameron joined BCI in May 2025. BCI reported 49kt crystallised by June 2026 and 266kt by September 2026, with 12 crystalliser cells commissioned. The report says winter crystallisation was lower than forecast due to prioritised brine transfer; the salt pavement is not yet a commercial shipment.
Role overlaps event; causation unproven · Operations leadership overlaps the ramp-up, but no personal causal contribution is quantified.
First shipment is now targeted in calendar 2027
The FY25 target was First Salt on Ship by the quarter ending 31 December 2026. By October 2026, BCI described a CY2027 pathway with timing dependent on weather and evaporation. Cameron's operations tenure overlaps the ramp-up but sources do not assign individual fault.
Role overlaps event; causation unproven · Operations role overlaps the schedule shift; weather and evaporation are identified as key drivers, and no personal cause is established.
Project safety indicators fluctuated during the construction-to-operations transition
BCI reported TRIFR of 2.3 at June 2025, 4.4 at June 2026 and 2.7 at September 2026. These company-level figures overlap Cameron's operations tenure; the reviewed sources do not identify an individual safety event or act by her.
Role overlaps event; causation unproven · The Operations remit overlaps site performance; no personal causation or violation is established.
Evidence gaps · 3
- Exact BCI start day and detailed prior employment chronology are not established; formal qualifications were not independently verified.
- Mardie's production, safety and schedule indicators are company-reported and no individual operating contribution or causal responsibility is measured.
- No comprehensive prior-employer legal, safety or environment review was performed.
Tammie Miller
Head of People and External Affairs
Long resources-sector experience in external affairs and government relations
BCI reports more than 25 years in external affairs, strategic communications and government relations, including almost 12 years at BHP and senior work with Minderoo. It lists BCom, public-relations graduate certificate, investor-relations diploma and leadership-coach credentials. The profile is issuer-reported and credentials were not independently verified.
Responsibility not applicable · Prior responsibilities and credentials are reported by BCI; employer outcomes and professional standing were not independently checked.
BCI reported people and community indicators during her tenure
BCI's FY26 report says 33% of employees were women at year end, compliance training completion was 99%, no new community grievances were lodged, and no grievance investigations remained open. The report also says no whistleblower submissions were received. These are company-reported indicators, not independently verified and not attributed personally to Miller.
Role overlaps event; causation unproven · Her people/external-affairs remit overlaps these indicators; the company report does not establish her individual contribution or explain whether the lack of reports reflects awareness/access.
Evidence gaps · 3
- Exact dates and outcomes from BHP, Minderoo and consulting roles are not established; listed qualifications were not independently verified.
- BCI's workforce, grievance and training indicators are issuer-reported; no independent employee or community assessment was reviewed.
- No whistleblower submissions reported by the company do not establish the absence of concerns; no exhaustive legal or regulator search was performed.
Shaun Meredith
Head of Approvals and Heritage (selected roster: Head of Environment and Heritage)
BCI's compliance report records a marine-fauna piling non-compliance during his tenure
BCI's MS 1211 report says piling recommenced on 25 March 2025 before observers had confirmed a manta ray had moved outside the exclusion zone. The report marked the condition non-compliant and says the incident was reported to DWER and DCCEEW on 1 April but not DBCA. The report separately marks a marine-fauna reporting condition non-compliant. Meredith joined BCI in March 2024 and the company later lists him as its environmental/approvals leader; no source connects him to the field decision.
Role overlaps event; causation unproven · Role and period overlap in environmental approvals, but field action was not attributed to Meredith; no personal violation or negligence is established.
DCCEEW recorded paid Mardie environmental infringements
The Department's register lists two paid 2024 Mardie notices for operations before required plans were approved and a paid December 2025 notice for violating a marine-fauna stop-order condition. The 2024 events include conduct before Meredith's March 2024 appointment; the later event followed his appointment. Payment of the unwithdrawn notices does not constitute conviction. The reviewed sources do not link him personally to the conduct.
Role overlaps event; causation unproven · Company/project notices overlap only in part with his tenure; no individual enforcement action or causation is established.
Earlier possible algal-mat impacts were not explicitly closed out in the reports reviewed
BCI's 2023–24 CAR identified potential non-compliance after algal-mat habitat near the temporary access track was impacted and reported to DWER. The 2024–25 CAR later marked related boundaries compliant and said no long-term loss of algal mat had been identified, but the sources reviewed did not expressly state that the earlier potential finding was formally closed by a regulator.
Role overlaps event; causation unproven · The possible impact was reported during Meredith's tenure, but the 2024–25 CAR indicates later compliant boundaries; no personal act is established.
Current website and selected roster use different titles
The selected V8 roster lists Head of Environment and Heritage; the current BCI leadership page lists Head of Approvals and Heritage. The FY26 annual report uses the earlier title. No dated appointment/title-change notice was located, so the effective date and exact title transition remain unknown.
Responsibility not applicable · This is a title/documentation discrepancy; it is not an adverse conduct finding.
Evidence gaps · 4
- The effective date and documentation for the title change from Head of Environment and Heritage to Head of Approvals and Heritage are unknown.
- The final regulator closure status for the earlier potential algal-mat finding and the complete corrective-action records for marine-fauna non-compliances were not located.
- No source connects Meredith personally to the field piling decision or the 2025 EPBC infringement; his responsibilities for those events are not established beyond role overlap and a documented delegated report signature.
- Degrees and professional standing were not independently verified; no exhaustive criminal, sanctions, court or regulator-history search was performed.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-07-17 · 2,937,579,809 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | Kerry Stokes | 35.17% | 1,033,214,709 |
| 2 | 35.03% | 1,029,086,501 | |
| 3 | 6.71% | 197,231,158 | |
| 4 | 1.80% | 53,020,213 | |
| 5 | 1.46% | 42,783,061 | |
| 6 | 0.66% | 19,283,509 | |
| 7 | 0.36% | 10,624,822 | |
| 8 | 0.36% | 10,448,635 | |
| 9 | 0.34% | 10,000,000 | |
| 10 | 0.33% | 9,625,524 | |
| 11 | 0.32% | 9,506,626 | |
| 12 | 0.27% | 7,815,217 | |
| 13 | 0.26% | 7,600,562 | |
| 14 | 0.25% | 7,203,608 | |
| 15 | 0.18% | 5,292,777 | |
| 16 | 0.17% | 5,000,000 | |
| 17 | 0.14% | 4,150,000 | |
| 18 | 0.14% | 4,107,828 | |
| 19 | 0.14% | 4,034,407 | |
| 20 | 0.14% | 4,000,000 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| Kerry Stokes | 36.12%Voting power | 2024-03-04 |
| 32.65%Calc. on issued shares | 2025-12-23 | |
| 10.41%Voting power | 2025-03-24 |
Sources & review notesEvidence checked through 2026-11-01
Coverage and limitations
- The company register is the 20 largest registered accounts as at 17 July 2026, not a complete beneficial-ownership register; nominee accounts remain unallocated.
- Substantial holders are shown at each group's latest supported disclosure date. Wroxby's and Ryder's notice percentages are historical and are not restated for later capital changes; AustralianSuper's post-conversion percentage is unavailable.
- BCI's 20 June 2025 Form 604 is about BCI's substantial interest in Agrimin Limited, not ownership of BCI, and is excluded.
Sources
- FY26 Annual Report
BCI Minerals Limited / ASX · Published 2026-08-19 · Accessed 2026-11-01
Reports substantial-holder notices on p.157, footnotes subsequent share issues, total issued shares of 2,937,579,809 as at 17 July 2026, and the 20 largest registered shareholders and their issued-capital percentages on p.158.
PDF pp. 157-159; Additional ASX Information; substantial shareholders, share register and voting rights
- Change in substantial holding from SVW
Seven Group Holdings Limited / ASX · Published 2024-03-06 · Accessed 2026-11-01
Reports that the SGH Group has no direct shareholding or economic interest in BCI and filed as associates of Wroxby; gives Wroxby's relevant-interest holding of 1,023,747,260 ordinary shares and 36.118% voting power as at 4 March 2024.
PDF p.1 cover letter; p.2 Form 604 sections 1-4
- Change in substantial holding
AustralianSuper Pty Ltd / ASX · Published 2024-03-06 · Accessed 2026-11-01
Reports AustralianSuper's relevant interest of 909,046,852 ordinary shares and 32.07% voting power following the retail entitlement offer, as at 4 March 2024.
PDF pp. 1-3, Form 604 and Annexure A
- Change in substantial holding from RYD
Ryder Capital Limited / ASX · Published 2025-03-28 · Accessed 2026-11-01
Reports Ryder Capital Limited and related entities' 300,488,706 BCI ordinary shares and 10.41% voting power as at 24 March 2025, with a transaction annexure and breakdown of relevant interests.
PDF pp. 1-5, Form 604 and Annexure A; present interests and trade schedule
- Change in substantial holding from BCI
BCI Minerals Limited / ASX · Published 2025-06-20 · Accessed 2026-11-01
The Form 604 is addressed to Agrimin Limited and identifies BCI Minerals as its substantial holder, so it concerns BCI's interest in Agrimin rather than holders of BCI and is excluded from BCI's shareholder rows.
PDF p.1, sections 1-4
- Application for quotation of securities - BCI
BCI Minerals Limited / ASX · Published 2025-12-23 · Accessed 2026-11-06
Ordinary shares on issue: 2,937,579,809 at 2025-12-23; used as the denominator for calculated substantial-holder percentages.
Appendix 2A, total ordinary shares on issue after the 23 December 2025 note conversion
Disclosed activity
Insider transactions
Trading activity13 buys · 0 sells shownNet cash last 12 months no tradesShow chartHide chart
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-08-18 | David BoshoffBoshoff Family Trust (held by Boshoff Family Pty Ltd as trustee)
Details & evidence for David Boshoff on 2026-08-18The lapsed rights did not meet vesting criteria; they are not ordinary shares. As disclosed: Lapse of Performance Rights that did not meet vesting criteria.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D Boshoff ↗ Change of Director's Interest Notice - D Boshoff ↗ | ExpiryPerformance Rights - 2024 - T2 | 802,088 | —Non Cash | — | 3,023,255 |
| 2026-05-26 | Brian O'DonnellRockstone Enterprises Pty Ltd <O'Donnell Super A/C>
Details & evidence for Brian O'Donnell on 2026-05-26Notice states $0.34 per share; currency and aggregate cash are not specified. As disclosed: On-market purchase of Shares
Rockstone Enterprises Pty Ltd <O'Donnell Super A/C> · Director and shareholder of the trustee and beneficiary of the disclosed super account. Change of Director's Interest Notice - B O'Donnell ↗ Change of Director's Interest Notice - B O'Donnell ↗ | PurchaseFully Paid Ordinary Shares | 200,000 | — | AUD 0.34Disclosed price | 3,000,000 |
| 2025-11-24 | David BoshoffBoshoff Family Trust (held by Boshoff Family Pty Ltd as trustee)
Details & evidence for David Boshoff on 2025-11-24Indirectly held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; no separate vesting terms are transcribed from this notice. As disclosed: Issue of 1,803,765 Share Rights pursuant to the shareholder approval obtained at the 21 November 2025 Annual General Meeting.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D Boshoff ↗ Change of Director's Interest Notice - D Boshoff ↗ | GrantShare Rights - 2025 | 1,803,765 | —Non Cash | — | 1,803,765 |
| 2025-11-24 | David BoshoffBoshoff Family Trust (held by Boshoff Family Pty Ltd as trustee)
Details & evidence for David Boshoff on 2025-11-24Indirectly held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; no separate vesting terms are transcribed from this notice. As disclosed: Issue of 2,823,787 Performance Rights pursuant to the shareholder approval obtained at the 21 November 2025 Annual General Meeting.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D Boshoff ↗ Change of Director's Interest Notice - D Boshoff ↗ | GrantPerformance Rights - 2025 | 2,823,787 | —Non Cash | — | 2,823,787 |
| 2025-08-25 | Brian O'DonnellRockstone Enterprises Pty Ltd <O'Donnell Super A/C>
Details & evidence for Brian O'Donnell on 2025-08-25Notice states $0.35 per share; currency and aggregate cash are not specified. As disclosed: On-market purchase of Shares
Rockstone Enterprises Pty Ltd <O'Donnell Super A/C> · Director and shareholder of the trustee and beneficiary of the disclosed super account. Change of Director's Interest Notice - B O'Donnell ↗ Change of Director's Interest Notice - B O'Donnell ↗ | PurchaseFully Paid Ordinary Shares | 134,898 | — | AUD 0.35Disclosed price | 2,800,000 |
| 2025-08-21 | Gabrielle Bell
Details & evidence for Gabrielle Bell on 2025-08-21The affected rights were held directly; the 100,000 ordinary shares are a separate indirect holding through Eskmar Pty Ltd. As disclosed: Lapse of Performance Rights that did not meet vesting criteria.
D and G Bell Family Account (held by Eskmar Pty Ltd as trustee) · Director, company secretary and shareholder of Eskmar Pty Ltd and beneficiary of the D and G Bell Family Account; 100,000 shares held through the trustee account. Change of Director's Interest Notice - G Bell ↗ Change of Director's Interest Notice - G Bell ↗ | ExpiryPerformance Rights - 2023 | 27,799 | —Non Cash | — | 166,796 |
| 2025-08-21 | David BoshoffBoshoff Family Trust (held by Boshoff Family Pty Ltd as trustee)
Details & evidence for David Boshoff on 2025-08-21The rights were held indirectly through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust. As disclosed: Lapse of Performance Rights that did not meet vesting criteria.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D Boshoff ↗ Change of Director's Interest Notice - D Boshoff ↗ | ExpiryPerformance Rights - 2023 | 537,967 | —Non Cash | — | 3,227,799 |
| 2025-05-01 | Brian O'DonnellRockstone Enterprises Pty Ltd <O'Donnell Super A/C>
Details & evidence for Brian O'Donnell on 2025-05-01Indirect holding through the disclosed O'Donnell Super A/C. As disclosed: On-market purchase of Shares
Rockstone Enterprises Pty Ltd <O'Donnell Super A/C> · Director and shareholder of the trustee and beneficiary of the disclosed super account. Change of Director's Interest Notice - B. O'Donnell ↗ Change of Director's Interest Notice - B. O'Donnell ↗ | PurchaseFully Paid Ordinary Shares | 131,527 | AUD 36,827.56 | AUD 0.28Disclosed price | 2,665,102 |
| 2025-03-05 | Brian O'DonnellRockstone Enterprises Pty Ltd <O'Donnell Super A/C>
Details & evidence for Brian O'Donnell on 2025-03-05Indirect holding through the disclosed O'Donnell Super A/C. As disclosed: On-market purchase of Shares
Rockstone Enterprises Pty Ltd <O'Donnell Super A/C> · Director and shareholder of the trustee and beneficiary of the disclosed super account. Change of Director's Interest Notice - B. O'Donnell ↗ Change of Director's Interest Notice - B. O'Donnell ↗ | PurchaseFully Paid Ordinary Shares | 200,000 | AUD 50,000.00 | AUD 0.25Disclosed price | 2,533,575 |
| 2024-11-28 | David BoshoffBoshoff Family Trust (held by Boshoff Family Pty Ltd as trustee)
Details & evidence for David Boshoff on 2024-11-28Indirect interest through Boshoff Family Pty Ltd as trustee for Boshoff Family Trust. As disclosed: Issue of 1,944,525 Share Rights - 2024 pursuant to shareholder approval at the 22 November 2024 Annual General Meeting.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D. Boshoff ↗ Change of Director's Interest Notice - D. Boshoff ↗ | GrantShare Rights - 2024 | 1,944,525 | —Non Cash | — | 1,944,525 |
| 2024-11-28 | David BoshoffBoshoff Family Trust (held by Boshoff Family Pty Ltd as trustee)
Details & evidence for David Boshoff on 2024-11-28Indirect interest through Boshoff Family Pty Ltd as trustee for Boshoff Family Trust. As disclosed: Issue of 3,825,343 Performance Rights 2024-T2 pursuant to shareholder approval at the 22 November 2024 Annual General Meeting.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D. Boshoff ↗ Change of Director's Interest Notice - D. Boshoff ↗ | GrantPerformance Rights - 2024 T2 | 3,825,343 | —Non Cash | — | 3,825,343 |
| 2024-10-14 | David BoshoffBoshoff Family Trust (held by Boshoff Family Pty Ltd as trustee)
Details & evidence for David Boshoff on 2024-10-14Indirect interest through Boshoff Family Pty Ltd as trustee for Boshoff Family Trust; this is the rights leg of the conversion. As disclosed: Conversion of 1,100,948 Share Rights-2023 to 1,100,948 Fully Paid Ordinary Shares.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D. Boshoff ↗ Change of Director's Interest Notice - D. Boshoff ↗ | ExerciseShare Rights - 2023 | 1,100,948 | —Non Cash | — | 0 |
| 2024-10-14 | David BoshoffBoshoff Family Trust (held by Boshoff Family Pty Ltd as trustee)
Details & evidence for David Boshoff on 2024-10-14Ordinary shares issued on conversion of Share Rights-2023. As disclosed: Conversion of 1,100,948 Share Rights-2023 to 1,100,948 Fully Paid Ordinary Shares.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D. Boshoff ↗ Change of Director's Interest Notice - D. Boshoff ↗ | ExerciseFully Paid Ordinary Shares | 1,100,948 | —Non Cash | — | 1,100,948 |
| 2024-09-24 | Miriam Erin Lyons Stanborough
Details & evidence for Miriam Erin Lyons Stanborough on 2024-09-24Direct interest. Ordinary shares held through Elygra Pty Ltd accounts were unchanged. As disclosed: Lapse of Performance Rights that did not meet vesting criteria.
director · Start not disclosed Elygra Pty Ltd · director of trustee Limestone Creek Super Fund · beneficiary and director of trustee Stanborough Family Trust · director of trustee Change of Director's Interest Notice - M. Stanborough ↗ Change of Director's Interest Notice - M. Stanborough ↗ | ExpiryPerformance Rights - 2022 | 136,622 | —Non Cash | — | 0 |
| 2024-09-24 | David BoshoffBoshoff Family Trust (held by Boshoff Family Pty Ltd as trustee)
Details & evidence for David Boshoff on 2024-09-24Indirect holding through Boshoff Family Trust. As disclosed: Lapse of Performance Rights-2022 that did not meet vesting criteria.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D. Boshoff ↗ Change of Director's Interest Notice - D. Boshoff ↗ | ExpiryPerformance Rights - 2022 | 153,773 | —Non Cash | — | 1,999,043 |
| 2024-09-19 | Gabrielle BellD and G Bell Family Account (held by Eskmar Pty Ltd as trustee)
Details & evidence for Gabrielle Bell on 2024-09-19Indirect holding through Eskmar Pty Ltd ATF the D and G Bell Family Account. As disclosed: On-market purchase
D and G Bell Family Account (held by Eskmar Pty Ltd as trustee) · Director, company secretary and shareholder of Eskmar Pty Ltd and beneficiary of the D and G Bell Family Account; 100,000 shares held through the trustee account. Change of Director's Interest Notice - G. Bell ↗ Change of Director's Interest Notice - G. Bell ↗ | PurchaseFully Paid Ordinary Shares | 100,000 | AUD 29,500.00 | AUD 0.295Disclosed price | 100,000 |
| 2024-07-24 | Garret DixonBunburra Trust
Details & evidence for Garret Dixon on 2024-07-24Exercise/conversion consumed 67,687 rights. The notice separately notes another 110,438 rights lapsed, without an independently stated date. As disclosed: Issue of 67,687 Fully Paid Ordinary Shares upon exercise of 67,687 Performance Rights-2020.
director · Start not disclosed to 2024-10-10 Bunburra Trust · beneficiary Galair Pty Ltd · beneficiary of trust for which it is trustee Change of Director's Interest Notice - G. Dixon ↗ Change of Director's Interest Notice - G. Dixon ↗ | ExercisePerformance Rights - 2020 | 67,687 | —Non Cash | — | — |
| 2024-07-24 | Garret DixonBunburra Trust
Details & evidence for Garret Dixon on 2024-07-24Shares issued on exercise of 67,687 vested Performance Rights-2020; estimated right value is not cash consideration. As disclosed: Issue of 67,687 Fully Paid Ordinary Shares upon exercise of 67,687 Performance Rights-2020.
director · Start not disclosed to 2024-10-10 Bunburra Trust · beneficiary Galair Pty Ltd · beneficiary of trust for which it is trustee Change of Director's Interest Notice - G. Dixon ↗ Change of Director's Interest Notice - G. Dixon ↗ | ExerciseFully Paid Ordinary Shares | 67,687 | —Non Cash | — | 67,687 |
| 2024-06-21 | Christopher SalisburySalisbury Family Trust
Details & evidence for Christopher Salisbury on 2024-06-21Indirect holding through BT Portfolio Services Ltd ATF the Salisbury Family Trust. As disclosed: On-market purchase
director · Start not disclosed Salisbury Family Trust · member and beneficiary BT Portfolio Services Ltd · member and beneficiary of trust for which it is trustee Change of Director's Interest Notice - C. Salisbury ↗ Change of Director's Interest Notice - C. Salisbury ↗ | PurchaseFully paid ordinary shares | 222,000 | AUD 52,170.00 | AUD 0.235Disclosed price | 222,000 |
| 2024-06-18 | Richard Fairfax Court ACR F Court Private Superannuation Fund
Details & evidence for Richard Fairfax Court AC on 2024-06-18Indirect beneficial holding through the R F Court Private Superannuation Fund. The 19 April registered-holder transfer was not an economic trade. As disclosed: On-market purchase
director · Start not disclosed R F Court Private Superannuation Fund · member and beneficiary Australian Executor Trustees Limited · member and beneficiary of fund for which it is custodian RF & J Pty Ltd · director and shareholder of trustee Change of Director's Interest Notice - R. Court ↗ Change of Director's Interest Notice - R. Court ↗ | PurchaseFully Paid Ordinary Shares | 400,000 | AUD 91,000.00 | AUD 0.2275Disclosed price | 2,228,105 |
| 2024-03-20 | Richard Fairfax Court ACR F Court Private Superannuation Fund
Details & evidence for Richard Fairfax Court AC on 2024-03-20Indirect beneficial holding through the R F Court Private Superannuation Fund. As disclosed: 320,000 Shares acquired on 20 March 2024 pursuant to participation in Tranche 2 of the Placement, as approved by shareholders on 14 March 2024.
director · Start not disclosed R F Court Private Superannuation Fund · member and beneficiary Australian Executor Trustees Limited · member and beneficiary of fund for which it is custodian RF & J Pty Ltd · director and shareholder of trustee Change of Director's Interest Notice - R. Court ↗ Change of Director's Interest Notice - R. Court ↗ | SubscriptionFully Paid Ordinary Shares | 320,000 | AUD 80,000.00 | AUD 0.25Disclosed price | 1,828,105 |
| 2024-03-20 | Brian O'DonnellRockstone Enterprises Pty Ltd <O'Donnell Super A/C>
Details & evidence for Brian O'Donnell on 2024-03-20Placement shares were acquired indirectly through the disclosed superannuation account. As disclosed: Participation in Tranche 2 of the placement
Rockstone Enterprises Pty Ltd <O'Donnell Super A/C> · Director and shareholder of the trustee and beneficiary of the disclosed super account. Change of Director's Interest Notice - B. O'Donnell ↗ Change of Director's Interest Notice - B. O'Donnell ↗ | SubscriptionFully Paid Ordinary Shares | 1,065,102 | AUD 266,275.50 | AUD 0.25Disclosed price | 2,333,575 |
| 2024-03-20 | Miriam Erin Lyons StanboroughLimestone Creek Super Fund
Details & evidence for Miriam Erin Lyons Stanborough on 2024-03-20The 200,000 share account-level increase is derived from the disclosed 5,896 prior and 205,896 after positions; the notice reports 320,000 acquired across two accounts. As disclosed: Participation in Tranche 2 of the placement.
director · Start not disclosed Elygra Pty Ltd · director of trustee Limestone Creek Super Fund · beneficiary and director of trustee Stanborough Family Trust · director of trustee Change of Director's Interest Notice - M. Stanborough ↗ Change of Director's Interest Notice - M. Stanborough ↗ | SubscriptionFully Paid Ordinary Shares | 200,000 | AUD 50,000.00 | AUD 0.25Disclosed price | 205,896 |
| 2024-03-20 | Miriam Erin Lyons StanboroughStanborough Family Trust
Details & evidence for Miriam Erin Lyons Stanborough on 2024-03-20The 120,000 share account-level increase is derived from the disclosed 120,000 after position; the notice reports 320,000 acquired across two accounts. As disclosed: Participation in Tranche 2 of the placement.
director · Start not disclosed Elygra Pty Ltd · director of trustee Limestone Creek Super Fund · beneficiary and director of trustee Stanborough Family Trust · director of trustee Change of Director's Interest Notice - M. Stanborough ↗ Change of Director's Interest Notice - M. Stanborough ↗ | SubscriptionFully Paid Ordinary Shares | 120,000 | AUD 30,000.00 | AUD 0.25Disclosed price | 120,000 |
| 2024-03-20 | David BoshoffBoshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee)
Details & evidence for David Boshoff on 2024-03-20Indirect interest through Boshoff Family Pty Ltd <Boshoff Family S/F A/C>. As disclosed: Participation in Tranche 2 of the placement, as approved by shareholders on 14 March 2024.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D. Boshoff ↗ Change of Director's Interest Notice - D. Boshoff ↗ | SubscriptionFully Paid Ordinary Shares | 160,000 | AUD 40,000.00 | AUD 0.25Disclosed price | 160,000 |
| 2024-03-04 | Richard Fairfax Court ACR F Court Private Superannuation Fund
Details & evidence for Richard Fairfax Court AC on 2024-03-04Indirect beneficial holding through the R F Court Private Superannuation Fund; transaction date 4 March 2024. As disclosed: 688,337 Shares acquired on 4 March 2024 pursuant to the Entitlement Offer to the extent of Mr Court's entitlement.
director · Start not disclosed R F Court Private Superannuation Fund · member and beneficiary Australian Executor Trustees Limited · member and beneficiary of fund for which it is custodian RF & J Pty Ltd · director and shareholder of trustee Change of Director's Interest Notice - R. Court ↗ Change of Director's Interest Notice - R. Court ↗ | SubscriptionFully Paid Ordinary Shares | 688,337 | AUD 172,084.25 | AUD 0.25Disclosed price | 1,508,105 |
| 2023-12-19 | Brian O'DonnellRockstone Enterprises Pty Ltd <O'Donnell Super A/C>
Details & evidence for Brian O'Donnell on 2023-12-19The conversion was non-cash. The notice gives an estimated value of $0.129 per Performance Right; that is not cash consideration. It separately states that 183,094 Performance Rights - 2020 had lapsed and had been notified to ASX on 1 August 2022, so no separate in-window lapse event is inferred. As disclosed: Conversion of 112,219 Performance Rights - 2020 to 112,219 Fully Paid Ordinary Shares
Rockstone Enterprises Pty Ltd <O'Donnell Super A/C> · Director and shareholder of the trustee and beneficiary of the disclosed super account. Change of Director's Interest Notice - B. O'Donnell ↗ Change of Director's Interest Notice - B. O'Donnell ↗ | ExerciseFully Paid Ordinary Shares | 112,219 | —Non Cash | — | 1,268,473 |
| 2023-12-19 | Gabrielle Bell
Details & evidence for Gabrielle Bell on 2023-12-19Direct issue of performance rights. The stated A$0.2398 per-right valuation is not cash consideration. As disclosed: Issue of 194,595 Performance Rights - 2023 pursuant to shareholder approval obtained at the 22 November 2023 Annual General Meeting.
D and G Bell Family Account (held by Eskmar Pty Ltd as trustee) · Director, company secretary and shareholder of Eskmar Pty Ltd and beneficiary of the D and G Bell Family Account; 100,000 shares held through the trustee account. Change of Director's Interest Notice - G. Bell ↗ Change of Director's Interest Notice - G. Bell ↗ | GrantPerformance Rights - 2023 | 194,595 | —Non Cash | — | 194,595 |
| 2023-12-19 | David BoshoffBoshoff Family Pty Ltd
Details & evidence for David Boshoff on 2023-12-19Indirect interest through Boshoff Family Pty Ltd. As disclosed: Issue of 1,100,948 Share Rights - 2023 pursuant to shareholder approval obtained at the 22 November 2023 Annual General Meeting.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D. Boshoff ↗ Change of Director's Interest Notice - D. Boshoff ↗ | GrantShare Rights - 2023 | 1,100,948 | —Non Cash | — | 1,100,948 |
| 2023-12-19 | David BoshoffBoshoff Family Pty Ltd
Details & evidence for David Boshoff on 2023-12-19Indirect interest through Boshoff Family Pty Ltd; separate from existing Performance Rights-2022 in the Boshoff Family Trust. As disclosed: Issue of 3,765,766 Performance Rights - 2023 pursuant to shareholder approval obtained at the 22 November 2023 Annual General Meeting.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D. Boshoff ↗ Change of Director's Interest Notice - D. Boshoff ↗ | GrantPerformance Rights - 2023 | 3,765,766 | —Non Cash | — | 3,765,766 |
| 2023-12-15 | Richard Fairfax Court AC
Details & evidence for Richard Fairfax Court AC on 2023-12-15Direct holding of rights; ordinary shares are held through the disclosed superannuation fund and custodian. As disclosed: Lapse of 81,309 Performance Rights - 2021 that did not meet vesting criteria, as notified to ASX on 19 December 2023.
director · Start not disclosed R F Court Private Superannuation Fund · member and beneficiary Australian Executor Trustees Limited · member and beneficiary of fund for which it is custodian RF & J Pty Ltd · director and shareholder of trustee Change of Director's Interest Notice - R. Court ↗ Change of Director's Interest Notice - R. Court ↗ | ExpiryPerformance Rights - 2021 | 81,309 | —Non Cash | — | 0 |
| 2023-12-15 | Christopher Salisbury
Details & evidence for Christopher Salisbury on 2023-12-15Direct holding. Rights lapsed after failing vesting criteria. As disclosed: Lapse of 85,826 Performance Rights - 2021 that did not meet vesting criteria, as notified to ASX on 19 December 2023.
director · Start not disclosed Salisbury Family Trust · member and beneficiary BT Portfolio Services Ltd · member and beneficiary of trust for which it is trustee Change of Director's Interest Notice - C. Salisbury ↗ Change of Director's Interest Notice - C. Salisbury ↗ | ExpiryPerformance Rights - 2021 | 85,826 | —Non Cash | — | 0 |
Disclosed holding observations16 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 |
|---|---|---|---|---|
| 2026-08-18 | David Boshoff
Details & evidence for David Boshoff on 2026-08-18Indirect holding: 160,000 shares in the Boshoff Family S/F A/C.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D Boshoff ↗ | PositionFully Paid Ordinary Shares | 160,000 | — |
| 2026-08-18 | David Boshoff
Details & evidence for David Boshoff on 2026-08-18Indirect holding: 1,100,948 shares in the Boshoff Family Trust account.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D Boshoff ↗ | PositionFully Paid Ordinary Shares | 1,100,948 | — |
| 2026-08-18 | David Boshoff
Details & evidence for David Boshoff on 2026-08-18Indirect holding in the Boshoff Family Trust account.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D Boshoff ↗ | PositionPerformance Rights - 2022 | 1,999,043 | — |
| 2026-08-18 | David Boshoff
Details & evidence for David Boshoff on 2026-08-18Indirect holding in the Boshoff Family Trust account.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D Boshoff ↗ | PositionPerformance Rights - 2023 | 3,227,799 | — |
| 2026-08-18 | David Boshoff
Details & evidence for David Boshoff on 2026-08-18Post-lapse position.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D Boshoff ↗ | PositionPerformance Rights - 2024 - T2 | 3,023,255 | — |
| 2026-08-18 | David Boshoff
Details & evidence for David Boshoff on 2026-08-18Indirect holding in the Boshoff Family Trust account.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D Boshoff ↗ | PositionPerformance Rights - 2025 | 2,823,787 | — |
| 2026-08-18 | David Boshoff
Details & evidence for David Boshoff on 2026-08-18Indirect holding in the Boshoff Family Trust account.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D Boshoff ↗ | PositionShare Rights - 2024 | 1,944,525 | — |
| 2026-08-18 | David Boshoff
Details & evidence for David Boshoff on 2026-08-18Indirect holding in the Boshoff Family Trust account.
Boshoff Family Pty Ltd · Director and shareholder of the corporate trustee; beneficiary of the disclosed trust account. Boshoff Family Trust (held by Boshoff Family Pty Ltd as trustee) · Performance rights and 1,100,948 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family Trust; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Boshoff Family S/F A/C (held by Boshoff Family Pty Ltd as trustee) · 160,000 ordinary shares are held through Boshoff Family Pty Ltd as trustee for the Boshoff Family S/F A/C; Boshoff is a director and shareholder of the trustee and a beneficiary of the account. Change of Director's Interest Notice - D Boshoff ↗ | PositionShare Rights - 2025 | 1,803,765 | — |
| 2026-05-26 | Brian O'Donnell
Details & evidence for Brian O'Donnell on 2026-05-26Indirect holding through Rockstone Enterprises Pty Ltd <O'Donnell Super A/C>.
Rockstone Enterprises Pty Ltd <O'Donnell Super A/C> · Director and shareholder of the trustee and beneficiary of the disclosed super account. Change of Director's Interest Notice - B O'Donnell ↗ | PositionFully Paid Ordinary Shares | 3,000,000 | — |
| 2025-08-21 | Gabrielle Bell
Details & evidence for Gabrielle Bell on 2025-08-21Indirect holding remained at 100,000 shares in the D and G Bell Family Account.
D and G Bell Family Account (held by Eskmar Pty Ltd as trustee) · Director, company secretary and shareholder of Eskmar Pty Ltd and beneficiary of the D and G Bell Family Account; 100,000 shares held through the trustee account. Change of Director's Interest Notice - G Bell ↗ Change of Director's Interest Notice - G Bell ↗ | PositionFully Paid Ordinary Shares | 100,000 | — |
| 2025-08-21 | Gabrielle Bell
Details & evidence for Gabrielle Bell on 2025-08-21Direct holding after lapse.
D and G Bell Family Account (held by Eskmar Pty Ltd as trustee) · Director, company secretary and shareholder of Eskmar Pty Ltd and beneficiary of the D and G Bell Family Account; 100,000 shares held through the trustee account. Change of Director's Interest Notice - G Bell ↗ | PositionPerformance Rights - 2023 | 166,796 | — |
| 2024-10-10 | Garret Dixon
Details & evidence for Garret Dixon on 2024-10-10Final position at cessation; shares held through Galair Pty Ltd as trustee for the Bunburra Trust.
director · Start not disclosed to 2024-10-10 Bunburra Trust · beneficiary Galair Pty Ltd · beneficiary of trust for which it is trustee Final Director's Interest Notice - G. Dixon ↗ | FinalFully Paid Ordinary Shares | 67,687 | — |
| 2024-03-28 | Richard Fairfax Court AC
Details & evidence for Richard Fairfax Court AC on 2024-03-28Aggregate underlying beneficial holding is 1,828,105 shares. Registered ownership of 827,853 shares moved from Australian Executor Trustees to RF & J Pty Ltd on 22 March 2024 with no underlying beneficial-interest change.
director · Start not disclosed R F Court Private Superannuation Fund · member and beneficiary Australian Executor Trustees Limited · member and beneficiary of fund for which it is custodian RF & J Pty Ltd · director and shareholder of trustee Change of Director's Interest Notice - R. Court ↗ | PositionFully Paid Ordinary Shares | 1,828,105 | — |
| 2023-12-15 | Richard Fairfax Court AC
Details & evidence for Richard Fairfax Court AC on 2023-12-15Position is held by Australian Executor Trustees Limited as custodian for the R F Court Private Superannuation Fund; Court is a member and beneficiary.
director · Start not disclosed R F Court Private Superannuation Fund · member and beneficiary Australian Executor Trustees Limited · member and beneficiary of fund for which it is custodian RF & J Pty Ltd · director and shareholder of trustee Change of Director's Interest Notice - R. Court ↗ Change of Director's Interest Notice - R. Court ↗ | PositionFully Paid Ordinary Shares | 819,768 | — |
| 2023-01-18 | Gabrielle Bell
Details & evidence for Gabrielle Bell on 2023-01-18Initial position disclosure; the notice states nil in Parts 1 and 2.
D and G Bell Family Account (held by Eskmar Pty Ltd as trustee) · Director, company secretary and shareholder of Eskmar Pty Ltd and beneficiary of the D and G Bell Family Account; 100,000 shares held through the trustee account. Initial Director's Interest Notice - G. Bell ↗ Initial Director's Interest Notice - G. Bell ↗ | InitialBCI securities (none disclosed) | 0 | — |
| 2023-01-18 | Michael Blakiston
Details & evidence for Michael Blakiston on 2023-01-18Final position at cessation. The notice also says 104,625 Performance Rights-2020 had lapsed; no date is specified for those lapses.
director · Start not disclosed to 2023-01-18 Carbrakine Super A/C · beneficiary of disclosed account Residuum Nominees Pty Ltd · director of trustee Final Director's Interest Notice - M. Blakiston ↗ | FinalPerformance Rights - 2020 | 64,125 | — |
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Sign in or enter a guest codeChronological evidenceSource-document inventory28 documents
BCI.AX close 30 October 2026 (local ASX price database)Market Data · MediumExtracted
Latest eligible ASX close on or before the 31 October 2026 cutoff from `python -m miners.reference_price BCI --valuation-date 2026-10-31`: A$0.525 raw close, volume 732,766, provider market data provider via miners.collect_stock_prices, one ASX BCI ordinary share, freshness 1 day.
- Document ID
- bci_close_20261030
- Published UTC
- 2026-10-29T23:00:00Z
- Projects
- —
- Commodities
- others
Local market snapshot for BCI at 31 October 2026 (data to the 30 October close)Market Data · MediumExtracted
Output of `python -m miners.v8db.market_snapshot BCI --cutoff 2026-10-31 --shares 2940098973 --commodities Salt`: 52-week range A$0.335-0.64, returns 1m -15.3%, 3m +22.1%, 12m +40.0%, 3y +95.6% (12m +31.1% relative to the mining index), 20-day average traded value A$553k, market cap A$1,543.6m on 2,940.1m shares, AUD per USD 1.4236 (AUD/USD about 0.70), no published peers in the local database and no salt spot series.
- Document ID
- market_snapshot_20261031
- Published UTC
- 2026-10-29T23:00:00Z
- Projects
- —
- Commodities
- others
Guidechem refined industrial salt price, China (30 Oct 2026)Commodity Data · LowExtracted
Chinese domestic refined industrial salt listed at 500 CNY/t on 30 October 2026, Shandong 99% salt 440 CNY/t and Shengli Chemical 380 CNY/t (October monthly ranges 440-510 and 380-420). A domestic ex-works series, not a seaborne CIF benchmark; no CIF Asia price for Australian salt was found.
- Document ID
- guidechem_refined_salt_20261030
- Published UTC
- 2026-10-29T23:00:00Z
- Projects
- mardie-salt
- Commodities
- others
September 2026 Quarterly Activities ReportOperations · HighExtracted
September 2026 quarterly activities report (20 Oct 2026): construction 90% complete (87% incl. crystalliser lining), 266kt salt crystallised, 12 crystalliser cells commissioned, A$119m drawn from the syndicated facility (A$706m drawn at quarter end), cash A$110.3m and total available funds A$316m, SOP pilot plant contract awarded, FSOS targeted CY2027 and weather dependent.
- Document ID
- sep26_quarterly_report
- Published UTC
- 2026-10-19T21:51:55Z
- Projects
- mardie-salt
- Commodities
- others
September 2026 Quarterly UpdatePresentation · MediumExtracted
September 2026 quarterly presentation: roadmap to salt revenue (crystalliser lining complete and Osprey transhipper CY2026-27, salt wash plant complete late CY2026), construction budget A$1,443m (A$1,265m spent, A$64m committed, A$114m uncommitted), SOP pilot plant timeline, Wood Mackenzie April 2026 Asian salt outlook, and the statement that JORC resources and reserves do not apply to seawater salt.
- Document ID
- sep26_quarterly_update
- Published UTC
- 2026-10-19T21:56:45Z
- Projects
- mardie-salt
- Commodities
- others
Notice of Annual General Meeting/Proxy FormGovernance · LowExtracted
Notice of 2026 annual general meeting for 20 November 2026 including election of Ian Hansen and remuneration report vote.
- Document ID
- agm_notice_20261013
- Published UTC
- 2026-10-12T22:40:03Z
- Projects
- —
- Commodities
- others
Notification of cessation of securities - BCICorporate Action · LowExtracted
Appendix 3H 12 Oct 2026: 1,297,293 2025 performance rights lapsed; unquoted securities after the change are 23,960,422 rights and 160,384,924 Series 3 convertible notes.
- Document ID
- cessation_20261012
- Published UTC
- 2026-10-12T02:17:58Z
- Projects
- —
- Commodities
- others
Application for quotation of securities - BCICorporate Action · LowExtracted
Appendix 2A: 2,519,164 ordinary shares issued 18 September 2026 on conversion of performance and share rights for nil consideration.
- Document ID
- appendix2a_20260918
- Published UTC
- 2026-09-18T07:30:35Z
- Projects
- —
- Commodities
- others
BCI Board ChangesLeadership · MediumExtracted
Ian Hansen (ex Wesfarmers Chemicals, Energy and Fertilisers MD) appointed non-executive director from 1 November 2026; Chris Salisbury (Audit and Risk Chair) will not seek re-election at the 20 November 2026 AGM.
- Document ID
- board_changes_20260917
- Published UTC
- 2026-09-16T22:30:53Z
- Projects
- —
- Commodities
- others
Notification of cessation of securities - BCICorporate Action · LowExtracted
Appendix 3H 21 Aug 2026: 1,322,933 2024 performance rights lapsed.
- Document ID
- cessation_20260821
- Published UTC
- 2026-08-21T07:44:43Z
- Projects
- —
- Commodities
- others
Change of Director's Interest Notice - D BoshoffGovernance · LowExtracted
Managing Director David Boshoff disposed of 802,088 vested 2024 tranche 2 performance rights on 18 August 2026 (lapse).
- Document ID
- director_interest_boshoff_20260821
- Published UTC
- 2026-08-21T07:52:38Z
- Projects
- —
- Commodities
- others
FY26 Annual ReportResults · HighExtracted
FY26 annual report (19 Aug 2026): pre-revenue, FY26 NPAT A$30.8m including a A$92.9m deferred tax asset recognition, cash A$98.3m, borrowings A$698.2m, 2,937.6m shares, offtake 62% of years 1-3 volume, A$1,443m salt-first budget, board and executive biographies, top-20 holders, contingent iron ore royalties, FX and diesel hedges, Series 3 convertible note terms.
- Document ID
- annual_report_fy26
- Published UTC
- 2026-08-18T21:46:13Z
- Projects
- mardie-salt
- Commodities
- others
Appendix 4EResults · MediumExtracted
Appendix 4E FY26: no dividends declared for FY26 (FY25 nil); net tangible assets A$0.28 per share.
- Document ID
- appendix_4e_fy26
- Published UTC
- 2026-08-18T21:46:03Z
- Projects
- mardie-salt
- Commodities
- others
FY26 Full Year ResultsResults · MediumExtracted
FY26 full year results announcement (18 Aug 2026): construction 85%, cumulative Mardie expenditure A$1,479m, cost to complete A$258m, available funds A$423m, 49kt crystallised, three binding offtakes cover 62% of first three years forecast salt, SOP pilot plant FID planned.
- Document ID
- fy26_results_announcement
- Published UTC
- 2026-08-18T21:46:43Z
- Projects
- mardie-salt
- Commodities
- others
Compass Minerals fiscal 2026 third-quarter resultsResults · LowExtracted
Compass Minerals (NYSE: CMP, salt and plant nutrition) reported Q3 adjusted EBITDA US$39.9m, nine-month US$191.6m, raised the midpoint of fiscal 2026 adjusted EBITDA guidance to US$230m (range US$218-242m) and net debt of US$660.3m at 30 June 2026 (net leverage 2.8x).
- Document ID
- cmp_q3_fy26_release
- Published UTC
- 2026-08-04T23:00:00Z
- Projects
- —
- Commodities
- others
Intrepid Potash second quarter 2026 resultsResults · LowExtracted
Intrepid Potash (NYSE: IPI) reported Q2 2026 adjusted EBITDA from continuing operations US$17.5m, first-half US$36.5m, completed the US$68.9m sale of Intrepid South and expanded its buyback to US$50m.
- Document ID
- ipi_q2_2026_release
- Published UTC
- 2026-08-03T23:00:00Z
- Projects
- —
- Commodities
- others
June 2026 Quarterly Activities ReportOperations · HighExtracted
June 2026 quarterly activities report: 49kt salt crystallised, first crystalliser train filled, company expects operational readiness for first salt on ship by Q1 CY2027 (weather dependent; cool or wet conditions can add up to six months), crystalliser lining to finish March 2027, dredging started April 2026.
- Document ID
- jun26_quarterly_report
- Published UTC
- 2026-07-19T22:25:33Z
- Projects
- mardie-salt
- Commodities
- others
Motley Fool Australia: ASX resources stock tipped to jump more than 100% (Shaw and Partners initiation on BCI, 19 June 2026)Other · LowExtracted
Reports that Shaw and Partners initiated coverage of BCI on 19 June 2026 with a Buy rating, high risk and a A$0.75 price target, equivalent to about 4.7x steady-state EV/EBITDA, expecting a re-rating to 6-8x as the company becomes an operator; flags weak industrial salt prices or SOP pilot underperformance as risks. The stock was about A$0.37 at the time. Used to test the thesis, never as the valuation anchor.
- Document ID
- shaw_initiation_20260623
- Published UTC
- 2026-06-22T23:00:00Z
- Projects
- mardie-salt
- Commodities
- others
Change of Director's Interest Notice - B O'DonnellGovernance · LowExtracted
Chair Brian O Donnell bought 200,000 shares on market at A$0.34 on 26 May 2026, lifting his indirect holding to 3,000,000 shares.
- Document ID
- director_interest_odonnell_20260527
- Published UTC
- 2026-05-26T22:22:52Z
- Projects
- —
- Commodities
- others
K+S raises EBITDA forecast for full year 2026Guidance · LowExtracted
K+S (XETRA: SDF; potash, magnesium and salt) raised its 2026 EBITDA forecast to EUR630-730m from EUR600-700m; net debt not stated on the page.
- Document ID
- kpluss_guidance_20260511
- Published UTC
- 2026-05-10T23:00:00Z
- Projects
- —
- Commodities
- others
March 2026 Quarterly Activities ReportOperations · MediumExtracted
March 2026 quarterly activities report: construction 81%, cyclones Mitchell and Narelle with no material damage, first two crystalliser cells flooded 11 March 2026, ramp-up profile under review.
- Document ID
- mar26_quarterly_report
- Published UTC
- 2026-04-27T22:25:23Z
- Projects
- mardie-salt
- Commodities
- others
31 December 2025 Half-Year Financial ReportResults · MediumExtracted
31 December 2025 half-year financial report: available funds A$601m, cost to complete A$400m, offtake contracts priced in the year before or biannually with reference to market pricing.
- Document ID
- half_year_report_dec25
- Published UTC
- 2026-02-23T22:00:45Z
- Projects
- mardie-salt
- Commodities
- others
Quarterly Activities ReportOperations · MediumExtracted
December 2025 quarterly activities report: first salt on ship targeted for the December 2026 quarter at that date (later moved to CY2027), construction 77%, crystalliser lining programme.
- Document ID
- dec25_quarterly_report
- Published UTC
- 2026-01-27T21:16:37Z
- Projects
- mardie-salt
- Commodities
- others
FY25 Annual ReportResults · MediumExtracted
FY25 annual report: third binding offtake signed taking contracted volumes to 62% of the first three years, construction 69%, cumulative expenditure A$1,113m.
- Document ID
- annual_report_fy25
- Published UTC
- 2025-08-21T23:16:19Z
- Projects
- mardie-salt
- Commodities
- others
Financial Close achieved for Mardie Project Debt FacilityFinancing · HighExtracted
Financial close achieved on the A$981m Mardie syndicated facility (NAIF, EFA, EDC, Westpac, ICBC) on 4 October 2024.
- Document ID
- financial_close_20241004
- Published UTC
- 2024-10-04T03:42:32Z
- Projects
- mardie-salt
- Commodities
- others
FY24 Annual ReportResults · MediumExtracted
FY24 annual report: A$598m 21-year transhipment services agreement with CSL Australia; offtake agreements signed with Wanhua Chemicals (China) and PT Chandra Asri Pacific (Indonesia, 300ktpa rising to 600ktpa); A$981m debt and A$315m equity raised; Iron Valley divestment.
- Document ID
- annual_report_fy24
- Published UTC
- 2024-08-22T23:19:23Z
- Projects
- mardie-salt
- Commodities
- others
Retail Entitlement Offer BookletStudy · HighExtracted
Retail entitlement offer booklet (8 Feb 2024) carrying the company Feb 2024 base case: salt-first pre-tax real ungeared NPV A$1.8bn at 7% real from start of construction (US$64.7/t CIF real, US$11.2/t freight, A$23.73/t FOB AISC real, AUD/USD 0.69, 5.35Mtpa, EBITDA A$286m); salt plus SOP NPV A$2.6bn; sales ramp chart; sources and uses of funds.
- Document ID
- retail_offer_booklet_feb24
- Published UTC
- 2024-02-08T07:33:26Z
- Projects
- mardie-salt
- Commodities
- others
Dampier Salt sells Lake MacLeod operation for A$375mTransaction · LowExtracted
Dampier Salt (Rio Tinto 68%, Marubeni 22%, Sojitz 10%) agreed to sell the 1.5Mtpa Lake MacLeod solar salt operation, a 1Mtpa gypsum operation and the Cape Cuvier port to Leichhardt Industrials for A$375m (completed December 2024). Implies about A$250 per tonne of annual salt capacity; no earnings multiple disclosed.
- Document ID
- lake_macleod_sale_20240116
- Published UTC
- 2024-01-15T23:00:00Z
- Projects
- —
- Commodities
- others
Evidence facts22
110300000.0 AUD
2026-09-30705600000.0 AUD
2026-09-30315700000.0 AUD
2026-09-30178000000.0 AUD
2026-09-30266000 t
2026-09-302937579809 shares
2026-06-302887513061 shares
2025-06-3098300000.0 AUD
2026-06-30698200000.0 AUD
2026-06-30834100000.0 AUD
2026-06-3030800000.0 AUD
2026-06-30-43800000.0 AUD
2026-06-301346000000.0 AUD
2026-06-30146000000.0 AUD
2026-06-300 AUD/share
2026-06-301822000000.0 AUD
2024-02-0164.7 USD/t
2024-02-0123.73 AUD/t
2024-02-010.69 USD/AUD
2024-02-01286000000.0 AUD
2024-02-012519164 shares
2026-09-180.525 AUD/share
2026-10-30