- Last 2026-11-06
- A$0.415
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
- Locked: sign in to view
- Mkt cap
- A$164.4M
- EV
- A$157.2M
- Cash
- A$33.7M
- Debt
- A$26.4M
3 newer ASX announcements not yet reflected in this valuation
- September Quarterly Results PresentationLatest Operating Presentation
- Quarterly Activities Report and Appendix 5BLatest Four Activities Reports
- Application for quotation of securities - BHMPost Cash Checkpoint Security Event
Investment view
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Sign in or enter a guest codeAnnouncements
Latest 12 of 15All sources ▸- Quarterly Activities Report and Appendix 5BResults
- June Quarterly Results PresentationPresentation
- Application for quotation of securities - BHMCorporate Action
- Quarterly Activities Report and Appendix 5BResults
- March Quarterly Results PresentationPresentation
- BHM Appendix 4D and Half Yearly ReportResults
- Amended Quarterly Activities Report and Appendix 5BResults
- Quarterly Activities Report and Appendix 5BResults
- Application for quotation of securities - BHMCorporate Action
- BHM Appendix 4E and 2025 Annual ReportResults
- Completion of Broken Hill Mines AcquisitionTransaction
- Broken Hill Mines Acquisition & Public Listing UpdateTransaction
Event calendar · next 12 months
3 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| 2026-10-01 to 2026-12-31 | Rasp and Pinnacles mineral resource updates | Resource Or Reserve | Company Guided | High | Updated resources can extend mine-life confidence, but must be converted into an executable mine plan. |
| 2026-10-12 | Second-tranche placement approval vote | Financing | Confirmed | High | Approval would unlock about A$25m gross funding and issue another 32.61m shares; rejection changes liquidity and dilution. |
| 2027-01-01 to 2027-03-31 | Tailings Dewatering Plant commissioning | Construction Or Commissioning | Company Guided | High | Commissioning is a constraint-release milestone for Rasp utilisation and processing throughput. |
Executive roster
As of 2026-08-28Background checks ▸FY26 annual report directors, key management personnel and corporate directory; nonexecutive directors excluded from operating roster.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Patrick Walta | Executive Chair | Executive Director | — | FY2026 Annual Report |
| Brent Slattery | Chief Executive Officer | Chief Executive | — | FY2026 Annual Report |
| Michael Worcester | Chief Financial Officer | Finance | — | FY2026 Annual Report |
| Alan Armstrong | Company Secretary | Company Secretary | — | FY2026 Annual Report |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Rasp Mine
Australia
Operating underground silver-lead-zinc mine and 750,000 tpa design-capacity plant; Western Mineralisation, Main Lode and initial Pinnacles feed were online by June 2026.
Project location
Approximate location
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Resources & reserves3
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Measured | 1.2M tonnes | 6.3% Zn, 3.9% Pb, 59.8 g/t Ag | Zinc · Lead · Silver | 2024-02-29 |
| Mineral Resource | Indicated | 2.6M tonnes | 5.0% Zn, 3.9% Pb, 58.3 g/t Ag | Zinc · Lead · Silver | 2024-02-29 |
| Mineral Resource | Inferred | 6.3M tonnes | 5.8% Zn, 2.7% Pb, 42.3 g/t Ag | Zinc · Lead · Silver | 2024-02-29 |
Tenements7
Milestones2
- Commission Tailings Dewatering Plant
Pending · High materiality
- Release updated Rasp mineral resource
Pending · High materiality
Material
Pinnacles Mine
Australia
BHM is exclusive operator and receives approximately 70% of operating net smelter returns; it does not own the tenements. Edwards open-pit mining restarted and first ore reached Rasp by June 2026.
Project location
Approximate location
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Resources & reserves3
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Measured | 168K tonnes | 4.2% Zn, 2.4% Pb, 89 g/t Ag, 0.24 g/t Au | Zinc · Lead · Silver · Gold | 2024-06-30 |
| Mineral Resource | Indicated | 847K tonnes | 4.7% Zn, 2.7% Pb, 102 g/t Ag, 0.37 g/t Au | Zinc · Lead · Silver · Gold | 2024-06-30 |
| Mineral Resource | Inferred | 5M tonnes | 4.7% Zn, 3.5% Pb, 139 g/t Ag, 0.53 g/t Au | Zinc · Lead · Silver · Gold | 2024-06-30 |
Tenements6
Milestones1
- Release updated Pinnacles mineral resource
Pending · High materiality
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
A$33.657m audited June cash plus approximately A$60m gross completed placement proceeds; June debt carrying value was A$26.447m, with A$26.940m customer contract liabilities and substantial development spending. Placement net proceeds and September cash were not disclosed.
Inventory composition1
Audited June balance has A$10.359m finished concentrate; other inventory consists of A$0.341m work-in-process ore and A$6.282m consumables. Only finished concentrate is separately credited in the equity bridge.
- Produced zinc and silver-lead concentrate awaiting shipment
- A$10.4M carrying
Capital structure
Ownership and dilution
- Ordinary shares
- 396.2M
- Fully diluted
- 496.7M
316,928,381 ordinary shares at 18 August plus 79,232,095 settled first-tranche placement shares = 396,160,476 issued shares. Fully diluted denominator also includes 81,362,996 options, 17,163,615 rights and 2,000,000 contingent Pinnacles shares. Conditional second tranche and withdrawn SPP excluded.
Security classes4
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Ordinary fully paid shares, quoted and restricted | Ordinary Share | 396.2M | — | — |
| Listed and unlisted options across disclosed classes | Option | 81.4M | — | — |
| Performance rights, including restricted class | Performance Right | 17.2M | — | — |
| Two million shares contingent on Pinnacles formal SOA | Other | 2M | — | — |
KPI history
Operating metrics
Operating metric source table5
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Throughput | Rasp | June 2026 quarter | Quarter | 119,320 tonnes | Reported |
| Production | Rasp | June 2026 quarter | Quarter | 95,787 oz silver in concentrate | Reported |
| Production | Rasp | June 2026 quarter | Quarter | 2,376 tonnes lead in concentrate | Reported |
| Production | Rasp | June 2026 quarter | Quarter | 3,331 tonnes zinc in concentrate | Reported |
| Free Cash Flow | Company | June 2026 quarter | Quarter | 9,133,000 AUD operating cash flow | Reported |
Company guidance2
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Tailings Dewatering Plant Commissioning | rasp | Q3 FY2027 | — | — target date | Current |
| Rasp And Pinnacles Mineral Resource Updates | Company | end CY2026 | — | — target date | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-09-04 | Raising | A$0 | — | — | Cancelled | — |
| 2026-09-03Ann. 2026-08-28 | Raising | A$60.2M | 79.2M | — | Completed | — |
| 2026-08-28 | Raising | A$24.8M | — | — | Announced | — |
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.
FY26 audited contractual and related-party notes, plus original Rasp/Pinnacles transaction terms; public terms remain incomplete for price deductions and farm-in economics.
Related-party royalty payable on Rasp and Pinnacles net smelter returns; Executive Chair has an interest in the counterparty.
Royalty · Active- Counterparties
- BHM RoyaltyCo Pty Ltd
- Applies to
- Rasp Mine · Pinnacles Mine · Silver · Lead · Zinc
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- NSR royalty: 2 percent
FY26 royalty incurred: 2,446,000 AUD
No valuation treatment is available for this arrangement.
BHM operates Pinnacles under HOA and retains approximately 70% of operating net smelter returns without owning the tenements; two million shares are contingent on formal SOA.
Joint Venture · Active- Counterparties
- Pinnacles Mines Pty Ltd · Broken Hill Pinnacles Pty Ltd
- Applies to
- Pinnacles Mine · Silver · Lead · Zinc
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- BHM share of operating net smelter returns: 70 percent
counterparty share: 30 percent
SOA contingent issue: 2,000,000 shares
No valuation treatment is available for this arrangement.
Silver-lead concentrate offtake is tied to a secured financing facility; realised-price exposure remains and precise treatment charges are undisclosed.
Offtake · Active- Counterparties
- Hartree Partners
- Applies to
- Rasp Mine · Silver · Lead
- Economic direction
- Mixed
- Period
- From 2025-10-01; no end date stated
- Key terms
- facility headline: 25,000,000 USD
drawn at June: 17,500,000 USD
pricing: 100% underlying commodity price text
No valuation treatment is available for this arrangement.
Kingfisher exploration cooperation and farm-in leaves BHM minority interests in Aragon and several regional tenements; no standalone mine plan is available.
Farm In · Active- Counterparties
- Kingfisher Mining
- Applies to
- Rasp Mine · Silver · Lead · Zinc
- Economic direction
- Mixed
- Period
- From 2026-03-01; no end date stated
- Key terms
- BHM Aragon participating interest: 15 percent
BHM other named tenement interests: 25 percent
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
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Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
The review adds Jason Morin as current COO on a September 2025 issuer appointment and a secondary profile updated 17 September 2026, while recording that BHM’s August FY26 KMP table omits him and its undated Our Team page omits both him and the CEO. Slattery’s FY26 KMP period starts 9 July 2025, while the appointment report says his CEO title took effect 1 September; the title date is used. BHM’s June 2026 throughput and metal output improved and first Pinnacles ore reached Rasp, but FY26 remained loss-making with negative operating cash flow. Site-level Rasp dust/lead and monitoring concerns remain material, while BHM’s FY26 report states no known regulatory breaches; the filings do not reconcile these records. Walta’s Century royalty litigation remains an unresolved civil allegation after a procedural ruling, and RoyaltyCo interests are disclosed without proof of impropriety. Morin’s prior KLL leadership overlapped with the Beyondie failure and administration; the sources reviewed do not establish individual causation or misconduct.
Decision-relevant facts
Material summary
Patrick Walta
Executive Chair
New Century restarted and ramped Century zinc mine
The issuer reports that Walta founded New Century Resources, negotiated its acquisition of Century, and led the project through feasibility, restart, commissioning and steady-state operations. The company biography reports over 1.5 million tonnes of zinc concentrate produced and acquisition by Sibanye-Stillwater in 2023. The company-level quantities are issuer-reported and no independent audit of individual attribution was identified.
Individual involvement documented · The issuer biography directly connects Walta to acquisition and leadership; production and sale are employer outcomes attributed by the issuer.
Century royalty deed litigation includes an unresolved fiduciary-duty claim against Walta
In the Century Mine royalty proceedings, the former operator/related parties seek to set aside royalty deeds, alleging fiduciary-duty breaches by Walta and other former directors; RoyaltyOne claims payment under the deeds. The Victorian Supreme Court’s 28 March 2025 decision concerned waiver of privilege over a due-diligence report and orders on a witness outline. It held the report could be adduced and dismissed the privilege summonses, but did not decide the merits of the royalty/fiduciary claims. A focused search through the 9 October 2026 cutoff found no later merits disposition; current case status and ultimate outcome therefore remain unresolved.
Individual involvement documented · Walta is named as a defendant by counterclaim and a beneficiary/former director. The asserted breach remains an allegation; no finding of misconduct is made by the 2025 ruling cited here.
Material personal interest in BHM RoyaltyCo royalty disclosed
The FY2026 half-year report identifies BHM RoyaltyCo as a related party and says A$1.657m of royalty was incurred in the six months to 31 December 2025; it states Executive Chair Patrick Walta has a material personal interest in RoyaltyCo. The June 2025 prospectus says the royalty is 2% NSR over Rasp/Pinnacles and nearby eligible interests, that Walta held 28.33% of RoyaltyCo, and the company treated it as arm’s length and said he did not participate in the board decision to acquire BHM or enter the royalty. Disclosure and stated recusal are evidenced; the sources reviewed do not include an independent benchmark of the royalty’s economic terms.
Individual involvement documented · Walta’s material personal interest is explicitly disclosed by the issuer. This is a related-party governance context, not evidence of impropriety; the board’s arm’s-length characterization is issuer-reported.
Evidence gaps · 5
- Full prior-employer chronology and exact dates are not independently established beyond the cited issuer biographies.
- Formal education, professional memberships and credentials have not been independently verified against awarding institutions or registers.
- No exhaustive individual criminal, sanctions, litigation, safety, environmental or regulatory record search was performed; logged open-web checks are limited and are not a clearance.
- For company-level operating outcomes, personal contribution is not established unless a source expressly attributes it.
- The 2025 annual review documents continued measurements/exceedances after the July licence variation but does not establish longer-term control effectiveness; indexed monthly reports through June 2026 could not be retrieved from the issuer site during this review.
Brent Slattery
Chief Executive Officer
Rasp output improved, while FY26 remained loss-making and cash-flow negative
BHM’s 9 July 2026 production update reports June-quarter throughput of 119,320 tonnes, silver output of 95,787 oz (+21.8% quarter on quarter), zinc output of 3,330 tonnes (+7.0%) and first Pinnacles ore delivered to the Rasp ROM in late June. The FY26 annual report records A$90.879m revenue, a A$48.827m net loss and A$4.73m negative operating cash flow; it notes reverse-acquisition accounting with BHM Holdings as accounting acquirer. These are company-level results, not evidence of individual contribution; the operational improvement had not translated to full-year profit or positive operating cash flow.
Role overlaps event; causation unproven · The CEO’s tenure overlaps the reported operating period; the sources do not establish personal contribution.
Evidence gaps · 5
- Full prior-employer chronology and exact dates are not independently established beyond the cited issuer biographies.
- Formal education, professional memberships and credentials have not been independently verified against awarding institutions or registers.
- No exhaustive individual criminal, sanctions, litigation, safety, environmental or regulatory record search was performed; logged open-web checks are limited and are not a clearance.
- For company-level operating outcomes, personal contribution is not established unless a source expressly attributes it.
- The 2025 annual review documents continued measurements/exceedances after the July licence variation but does not establish longer-term control effectiveness; indexed monthly reports through June 2026 could not be retrieved from the issuer site during this review.
Michael Worcester
Chief Financial Officer
Rasp output improved, while FY26 remained loss-making and cash-flow negative
BHM’s 9 July 2026 production update reports June-quarter throughput of 119,320 tonnes, silver output of 95,787 oz (+21.8% quarter on quarter), zinc output of 3,330 tonnes (+7.0%) and first Pinnacles ore delivered to the Rasp ROM in late June. The FY26 annual report records A$90.879m revenue, a A$48.827m net loss and A$4.73m negative operating cash flow; it notes reverse-acquisition accounting with BHM Holdings as accounting acquirer. These are company-level results, not evidence of individual contribution; the operational improvement had not translated to full-year profit or positive operating cash flow.
Role overlaps event; causation unproven · The CFO’s tenure overlaps the reported financial reporting period; the sources do not establish personal contribution.
Evidence gaps · 5
- Full prior-employer chronology and exact dates are not independently established beyond the cited issuer biographies.
- Formal education, professional memberships and credentials have not been independently verified against awarding institutions or registers.
- No exhaustive individual criminal, sanctions, litigation, safety, environmental or regulatory record search was performed; logged open-web checks are limited and are not a clearance.
- For company-level operating outcomes, personal contribution is not established unless a source expressly attributes it.
- The 2025 annual review documents continued measurements/exceedances after the July licence variation but does not establish longer-term control effectiveness; indexed monthly reports through June 2026 could not be retrieved from the issuer site during this review.
Alan Armstrong
Company Secretary
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 5
- Full prior-employer chronology and exact dates are not independently established beyond the cited issuer biographies.
- Formal education, professional memberships and credentials have not been independently verified against awarding institutions or registers.
- No exhaustive individual criminal, sanctions, litigation, safety, environmental or regulatory record search was performed; logged open-web checks are limited and are not a clearance.
- For company-level operating outcomes, personal contribution is not established unless a source expressly attributes it.
- The 2025 annual review documents continued measurements/exceedances after the July licence variation but does not establish longer-term control effectiveness; indexed monthly reports through June 2026 could not be retrieved from the issuer site during this review.
Jason Morin
Chief Operating Officer
Kalium Lakes entered external administration during Morin’s operating leadership
Morin had been Kalium Lakes’ General Manager Operations since August 2022 and was appointed Acting CEO effective 4 April 2023; the 2024 annual report lists his Acting CEO term through 3 October 2023. Administrators and receivers were appointed to the Beyondie project entities on 3 August 2023. Reward Minerals’ 2024 annual report says the original operation did not achieve viable production status; its attempted purchase of the whole project ended when the associated A$22.8 million capital raise was not completed, and in December 2024 it acquired only the plant, offices and minor infrastructure. In 2026 the Federal Court revested tenements to permit a conditional sale process, but the reviewed source does not confirm completion. Kalium Lakes says Morin’s employment was terminated by receivers without cause on 3 October because of the external administration and receivership. This is a material employer failure during role overlap, not evidence Morin caused the operating or funding outcomes or engaged in misconduct.
Role overlaps event; causation unproven · The company’s financial/operational failure overlaps Morin’s General Manager Operations and Acting CEO roles. The sources reviewed do not identify personal wrongdoing or causal responsibility; the annual report explicitly says termination was without cause.
Rasp lead-dust controls and monitoring remain an oversight issue
The NSW Chief Scientist & Engineer’s preliminary report records a 2025 EPA inspection at Rasp that identified emissions-control concerns; the licence was varied on 1 July 2025. Rasp’s 2025 Annual Review reports PM10 exceedances on 28 January (51.7 µg/m³), 22 May (50.7 µg/m³) and 10 December (84 µg/m³), monitoring failures on 20–21 October and 19 December, and blast-vibration exceedances. The January/May readings preceded BHM’s acquisition and Morin’s appointment; October/December monitoring failures and the 10 December PM10 reading occurred during his COO tenure, but the EPA inspection date is not specified. BHM’s FY26 annual report states there were no known environmental-regulation breaches during the year. The filings do not reconcile that statement with the event-specific monitoring/exceedance reporting; a reported exceedance is not by itself a regulator finding of legal breach. SafeWork NSW’s September 2026 proactive visit covered three unnamed mines and announced no site-specific breach. No source identifies personal responsibility by Morin. Post-December 2025 monitoring detail was not retrieved, so longer-term effectiveness is unresolved.
Role overlaps event; causation unproven · The record describes site conditions and regulator/issuer disclosures, not Morin’s personal conduct. Some 2025 events predate BHM acquisition/appointment; later events overlap his COO tenure but do not establish cause. The FY26 annual report states no known regulatory breaches, while the site-level events are not independently reconciled and do not by themselves establish a legal breach.
Rasp output improved, while FY26 remained loss-making and cash-flow negative
BHM’s 9 July 2026 production update reports June-quarter throughput of 119,320 tonnes, silver output of 95,787 oz (+21.8% quarter on quarter), zinc output of 3,330 tonnes (+7.0%) and first Pinnacles ore delivered to the Rasp ROM in late June. The FY26 annual report records A$90.879m revenue, a A$48.827m net loss and A$4.73m negative operating cash flow; it notes reverse-acquisition accounting with BHM Holdings as accounting acquirer. This is a company-level result during Morin’s COO tenure, not evidence of his personal contribution; operational improvement had not yet translated to full-year profit or positive operating cash flow.
Role overlaps event; causation unproven · The issuer reports operational output and audited annual financial results; no source connects Morin individually to the outcome.
Evidence gaps · 7
- BHM’s FY26 KMP table and undated Our Team page omit Morin; a secondary profile last updated 17 September 2026 lists him as COO/current. No later primary officer directory or dated appointment/departure notice was located, so the exact title/status on 10 October 2026 is not independently confirmed.
- Most dates and older positions in the pre-KLL chronology rely on a secondary employment profile; only selected appointments and endpoints are independently supported by issuer releases.
- The MBA and mining/minerals-engineering qualifications are employer-reported; the institutions named by the secondary profile and professional membership were not independently verified.
- A California civil personal-injury calendar entry surfaced for a defendant with the same name. The public record reviewed did not link that defendant to the BHM mining executive; it has not been attributed.
- No exhaustive criminal, sanctions, litigation, employment-reference, safety or credential check was performed. Open-web searches are limited and are not a clearance.
- KLL’s external administration during Morin’s General Manager Operations/Acting CEO overlap is a company-level failure; the reviewed sources do not establish his individual causal responsibility or misconduct.
- The 2025 Rasp annual review lists monitoring failures and PM10 exceedances, while BHM’s FY26 annual report says no known environmental-regulation breaches; the legal/compliance reconciliation is not explained. Post-December 2025 monthly monitoring outcomes were not retrieved.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-08-18 · 316,928,381 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 12.66% | 40,136,999 | |
| 2 | 8.19% | 25,971,000 | |
| 3 | 7.45% | 23,610,000 | |
| 4 | 5.63% | 17,838,613 | |
| 5 | 4.12% | 13,056,413 | |
| 6 | 3.54% | 11,214,750 | |
| 7 | 3.54% | 11,214,750 | |
| 8 | 3.05% | 9,665,485 | |
| 9 | 2.48% | 7,850,000 | |
| 10 | 1.61% | 5,115,508 | |
| 11 | 1.12% | 3,541,500 | |
| 12 | 1.12% | 3,541,500 | |
| 13 | 1.09% | 3,463,490 | |
| 14 | 1.05% | 3,313,284 | |
| 15 | 0.93% | 2,962,500 | |
| 16 | 0.81% | 2,571,815 | |
| 17 | 0.79% | 2,500,000 | |
| 18 | 0.77% | 2,443,700 | |
| 19 | 0.76% | 2,407,142 | |
| 20 | 0.71% | 2,250,925 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 12.66%Voting power | 2026-08-18 | |
| 8.19%Voting power | 2026-08-18 | |
| 7.45%Voting power | 2026-08-18 | |
| 5.63%Voting power | 2026-08-18 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- The ranked register is based on company share-registry information as at 18 August 2026 and does not show beneficial holders behind custodians.
- A further equity raising was announced on 28 August 2026. It occurred after the register date; historical percentages are not rebased or treated as current.
- Substantial-holder groups can overlap the register and must not be added to the registered-account rows.
- The 2026 annual report was absent from the local downloads manifest; the report contents and date were checked in a public filing text mirror, and the issuer’s official reports page was checked for the annual report listing.
Sources
- BHM Appendix 4E and 2026 Annual Report
Broken Hill Mines Limited / ASX · Published 2026-08-28 · Accessed 2026-10-09
Complete 20-account BHM ordinary-share register, denominator 316,928,381, and four substantial-holder rows as at 18 August 2026. The report distinguishes the ordinary-share table from separate BHMO/BHMOA option-holder lists.
Company official Investor Centre reports page; Annual Report 2026, printed pages 90-91 (PDF pages 92-93), Additional Information, Top 20 Shareholders and Substantial Shareholder table. Report text was reviewed from the filed annual report mirror at https://financialfilings.com/filings/broken-hill-mines-limited/annual-report/2026/57869190/.
Disclosed activity
Insider transactions
No transactions were identified in this reviewed view.
Disclosed holding observations3 dated positions
Initial, final and threshold notices describe positions; these are not counted as purchases or sales.
| Holding at | Person / group | Type / security | Quantity | Percentage |
|---|---|---|---|---|
| 2025-07-09 | John Scott Carr
Details & evidence for John Scott Carr on 2025-07-09Initial threshold-date holding; Form 603 says ordinary shares were issued on BHM acquisition. No cash consideration is disclosed in section 5.
Becoming a substantial holder x 3 ↗ | InitialOrdinary shares | 23,610,000 | 8.79%Voting Power |
| 2025-07-09 | Telok Ayer Pty Limited <Slattery Family A/C>
Details & evidence for Telok Ayer Pty Limited <Slattery Family A/C> on 2025-07-09Initial threshold-date holding; Form 603 says ordinary shares were issued on BHM acquisition. No cash consideration is disclosed in section 5.
Becoming a substantial holder x 3 ↗ | InitialOrdinary shares | 25,971,000 | 9.67%Voting Power |
| 2025-07-09 | Patrick Christopher Andrew Walta
Details & evidence for Patrick Christopher Andrew Walta on 2025-07-09Initial threshold-date holding; Form 603 says ordinary shares were issued on BHM acquisition. No cash consideration is disclosed in section 5.
FJB & Associates A/C · holding in account named in substantial holder form Becoming a substantial holder x 3 ↗ | InitialOrdinary shares | 40,136,999 | 14.94%Voting Power |
The closest covered peers
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Narrative and provenance
Research & Sources
The full analyst report, its figures and the broker-style PDF are available to subscribers and invited guests.
Sign in or enter a guest codeChronological evidenceSource-document inventory21 documents
BHM.AX historical market closeMarket Data · HighExtracted
Latest eligible ordinary-share close before 26 September cutoff. Market data collected through local reference-price tool.
- Document ID
- doc_20260925_price
- Published UTC
- 2026-09-25T00:00:00Z
- Projects
- —
- Commodities
- —
Withdrawal of share purchase planCorporate Action · HighExtracted
The planned A$5m SPP was withdrawn; no SPP proceeds or shares enter the valuation.
- Document ID
- doc_20260916_sppwithdrawal
- Published UTC
- 2026-09-16T00:00:00Z
- Projects
- —
- Commodities
- —
Shareholder letter on fully underwritten placement and SPPFinancing · HighExtracted
A$85m underwritten placement at A$0.76; second tranche conditional on 12 October approval.
- Document ID
- doc_20260904_placement
- Published UTC
- 2026-09-04T00:00:00Z
- Projects
- rasp · pinnacles
- Commodities
- silver · lead · zinc
Placement tranche allocation and settlementFinancing · HighExtracted
Secondary placement allocation confirms approximately A$60m first tranche and A$25m conditional second tranche.
- Document ID
- doc_20260903_tranche1
- Published UTC
- 2026-09-03T00:00:00Z
- Projects
- rasp · pinnacles
- Commodities
- —
FY2026 Annual ReportResults · HighExtracted
Audited FY26 accounts, related-party royalty, Pinnacles HOA, debt and dilution; basis for refreshed capital bridge.
- Document ID
- doc_20260828_annual
- Published UTC
- 2026-08-28T00:00:00Z
- Projects
- rasp · pinnacles
- Commodities
- silver · lead · zinc
Centenary high-grade drilling updateResource Update · MediumExtracted
High-grade intercept outside current MRE; resource conversion remains pending.
- Document ID
- doc_20260817_centenary
- Published UTC
- 2026-08-17T00:00:00Z
- Projects
- rasp
- Commodities
- zinc · lead · silver
Quarterly Activities Report and Appendix 5BResults · HighExtracted
June 2026 quarterly activities and Appendix 5B covering record throughput, rising silver output, Pinnacles first ore, cash flow and financing facilities.
- Document ID
- doc_20260731_14
- Published UTC
- 2026-07-30T22:25:19Z
- Projects
- rasp · pinnacles
- Commodities
- silver · lead · zinc
June Quarterly Results PresentationPresentation · HighExtracted
June 2026 results presentation with production trends, resource summaries, capital structure, liquidity and a 30 July reference share price.
- Document ID
- doc_20260731_15
- Published UTC
- 2026-07-30T22:40:54Z
- Projects
- rasp · pinnacles
- Commodities
- silver · lead · zinc
Application for quotation of securities - BHMCorporate Action · MediumExtracted
ASX quotation application for 3,039,400 escrowed ordinary shares, with total quoted and restricted security classes after quotation.
- Document ID
- doc_20260709_13
- Published UTC
- 2026-07-09T07:34:19Z
- Projects
- —
- Commodities
- —
Quarterly Activities Report and Appendix 5BResults · HighExtracted
March 2026 quarterly activities and Appendix 5B covering operations, exploration, capital spend and liquidity.
- Document ID
- doc_20260424_11
- Published UTC
- 2026-04-23T23:08:16Z
- Projects
- —
- Commodities
- —
March Quarterly Results PresentationPresentation · HighExtracted
March 2026 quarter presentation describing Rasp ramp-up, Pinnacles development and balance-sheet position.
- Document ID
- doc_20260424_12
- Published UTC
- 2026-04-23T23:09:46Z
- Projects
- —
- Commodities
- —
BHM Appendix 4D and Half Yearly ReportResults · HighExtracted
Half-year report to 31 December 2025 with consolidated revenue, loss, assets, liabilities, debt, inventory and capital structure.
- Document ID
- doc_20260225_10
- Published UTC
- 2026-02-24T22:49:54Z
- Projects
- —
- Commodities
- —
Amended Quarterly Activities Report and Appendix 5BResults · HighExtracted
Amended December 2025 quarterly activities and Appendix 5B, superseding cash-flow presentation in the original release.
- Document ID
- doc_20260206_09
- Published UTC
- 2026-02-06T06:48:27Z
- Projects
- —
- Commodities
- —
Quarterly Activities Report and Appendix 5BResults · HighExtracted
December 2025 quarterly activities and cash-flow report covering Rasp production, Pinnacles work and liquidity.
- Document ID
- doc_20260129_08
- Published UTC
- 2026-01-28T22:20:31Z
- Projects
- —
- Commodities
- —
Application for quotation of securities - BHMCorporate Action · MediumExtracted
ASX quotation application recording option exercises and the resulting quoted and unquoted security classes.
- Document ID
- doc_20251222_07
- Published UTC
- 2025-12-21T23:03:59Z
- Projects
- —
- Commodities
- —
BHM Appendix 4E and 2025 Annual ReportResults · HighExtracted
FY2025 annual report for the pre-combination legal parent, including subsequent-event capital structure and acquisition disclosures.
- Document ID
- doc_20250829_06
- Published UTC
- 2025-08-28T23:04:06Z
- Projects
- —
- Commodities
- —
Completion of Broken Hill Mines AcquisitionTransaction · HighExtracted
Confirms completion of the acquisition of Broken Hill Mines Holdings and the resulting corporate combination.
- Document ID
- doc_20250714_05
- Published UTC
- 2025-07-13T23:41:07Z
- Projects
- rasp · pinnacles
- Commodities
- silver · lead · zinc
Broken Hill Mines Acquisition & Public Listing UpdateTransaction · HighExtracted
Updates completion mechanics and expected timing for the acquisition and public listing.
- Document ID
- doc_20250707_04
- Published UTC
- 2025-07-06T23:35:21Z
- Projects
- rasp · pinnacles
- Commodities
- silver · lead · zinc
Broken Hill Mines Acquisition & Public Listing UpdateTransaction · HighExtracted
Updates timing and conditions for the Broken Hill Mines acquisition and public listing process.
- Document ID
- doc_20250424_03
- Published UTC
- 2025-04-24T08:55:05Z
- Projects
- rasp · pinnacles
- Commodities
- silver · lead · zinc
Broken Hill Mines Pty Ltd Completes Acquisition of BHOPLTransaction · HighExtracted
Confirms Broken Hill Mines Pty Ltd completed the acquisition of Broken Hill Operations Pty Ltd, owner of the Rasp mine.
- Document ID
- doc_20241031_02
- Published UTC
- 2024-10-31T03:45:36Z
- Projects
- rasp · pinnacles
- Commodities
- silver · lead · zinc
CBH to Acquire the Operating Rasp Ag-Pb-Zn Mine/Pinnacles JVTransaction · HighExtracted
Transaction announcement and technical appendices for the proposed acquisition of the operating Rasp mine and Pinnacles profit-share arrangement, including 2024 JORC resources and transaction terms.
- Document ID
- doc_20240917_01
- Published UTC
- 2024-09-17T00:30:47Z
- Projects
- rasp · pinnacles
- Commodities
- silver · lead · zinc
Evidence facts63
10055000 tonnes
2024-02-295.7 %
2024-02-293.2 %
2024-02-2948.5 g/t
2024-02-295971000 tonnes
2024-06-304.7 %
2024-06-303.3 %
2024-06-30133 g/t
2024-06-3070 %
2024-09-17750000 tonnes/year
2024-09-1748141000 AUD
2025-12-31-29941000 AUD
2025-12-3145127000 AUD
2025-12-317643000 AUD
2025-12-3114708000 AUD
2025-12-3115649000 AUD
2025-12-31166003493 shares
2026-07-09150924888 shares
2026-07-09316928381 shares
2026-07-0981362996 options
2026-07-0917163615 rights
2026-07-09119320 tonnes/quarter
2026-06-3095787 oz/quarter
2026-06-302376 tonnes/quarter
2026-06-303331 tonnes/quarter
2026-06-3078.9 %
2026-06-3088.3 %
2026-06-3088.2 %
2026-06-309133000 AUD
2026-06-3033657000 AUD
2026-06-3061395000 AUD
2026-06-309232000 AUD
2026-06-3052163000 AUD
2026-06-3010100000 AUD
2026-06-3053000000 AUD
2026-07-26True None
2026-06-300.68 AUD/share
2026-07-30316600000 shares
2026-07-3081300000 options
2026-07-3033700000 AUD
2026-06-3090879000 AUD
2026-06-30-48827000 AUD
2026-06-30-4730000 AUD
2026-06-3033657000 AUD
2026-06-3026447000 AUD
2026-06-3026940000 AUD
2026-06-3010359000 AUD
2026-06-3018533000 AUD
2026-06-302446000 AUD
2026-06-30316928381 shares
2026-08-1881362996 securities
2026-08-1817163615 securities
2026-08-182000000 shares
2026-06-3085000000 AUD
2026-09-040.76 AUD/share
2026-09-042026-10-12 date
2026-10-1279232095 shares
2026-09-0332610011 shares
2026-09-03True boolean
2026-09-160.675 AUD/share
2026-09-25322569 shares
2026-09-2517.8 metres
2026-08-1710.1 % ZnEq
2026-08-17Conflicts requiring judgment1
- ordinary shares on issue
The exact ASX Appendix 2A class totals are selected over the later presentation's rounded 316.6 million figure.