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- Last 2026-11-06
- A$0.23
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
- Locked: sign in to view
- Mkt cap
- A$744.5M
- EV
- A$684.5M
- Cash
- A$199.7M
- Debt
- A$134.9M
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Sign in or enter a guest codeAnnouncements
Latest 12 of 15All sources ▸- Notice of 2026 AGM and Proxy FormGovernance
- Quarterly Activities and Cashflow ReportOperations
- September Quarterly Report PresentationPresentation
- Core Lithium 2026 Annual Report to ShareholdersResults
- Quarterly Activities and Cashflow ReportOperations
- Exploration Program Commenced and Bynoe Tenement AcquiredTransaction
- Quarterly Activities and Cashflow ReportOperations
- $120 million Institutional Placement Supports Finniss FIDFinancing
- FID Approved and Funding Secured for Finniss RestartStudy
- Board and Management UpdatesLeadership
- Quarterly Activities and Cashflow ReportOperations
- EL8:Acquisition of Napperby Uranium ResourceTransaction
Event calendar · next 12 months
8 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| December quarter 2026 | Blackbeard 12,150m diamond programme completed | Exploration | Company Guided | Medium | Determines whether a maiden Mineral Resource can support a higher-grade feed source near the plant. |
| December quarter 2026 | First shipment of newly produced Finniss concentrate | Production | Company Guided | High | First revenue from the restart and the first realised price and grade data point. |
| 25 November 2026 | 2026 Annual General Meeting | Governance | Confirmed | Medium | Votes on director elections, NED fee pool and the Managing Director's one-off Finniss Payback performance rights. |
| Delivery March quarter 2027; installation in FY27 | Reflux classifier delivery and installation | Construction Or Commissioning | Company Guided | Medium | Final brownfields upgrade expected to lift recoveries towards the 78% plan. |
| Late January 2027 | December 2026 quarterly report | Results | Inferred | High | First disclosed production, recovery, sales and costs of the restart. |
| Late February 2027 | FY27 half-year results | Results | Inferred | Medium | First half-year of restart revenue and costs. |
| Mid-CY2027 | First development ore from BP33 underground | Construction Or Commissioning | Company Guided | High | BP33 supplies most of the first ten years of feed; schedule slippage is the main execution risk. |
| September 2027 | FY27 annual report and resource/reserve statement | Resource Or Reserve | Inferred | Medium | First reconciled production year and any reserve changes from BP33 extension drilling. |
Executive roster
As of 2026-10-31Background checks ▸Executive management disclosed in the 2026 annual report (Managing Director and CEO, CFO) plus the Company Secretary; no other senior managers are named.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Paul Brown | Managing Director and Chief Executive Officer | Executive Director · Chief Executive | 2026-03-02 | Board and Management Updates · Core Lithium 2026 Annual Report to Shareholders |
| James Virgo | Chief Financial Officer | Finance | — | Core Lithium 2026 Annual Report to Shareholders |
| Jaroslaw (Jarek) Kopias | Company Secretary | Company Secretary | 2011-06-21 | Core Lithium 2026 Annual Report to Shareholders |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Finniss Lithium Operation
AU
Ramping Producer100% ownedLithium
Restarted after the March 2026 FID: Grants open pit mining since May 2026, first concentrate September 2026, first shipment targeted December quarter 2026; BP33 decline under development (first ore mid-CY2027, nameplate 1.2Mtpa / 214ktpa SC6 in mid-2028); Carlton underground later in the plan.
- Production annualised (attributable)
- —
- Production (last FY, 100%)
- —
- AISC (latest quarter)
- —
- AISC margin at spot
- —
- Delivery vs guidance
- —
- Reserve life
- —
- Head grade
- —
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Published study economicsIssuer or study metrics
NPVA$837M8% discount
IRR76.5%Published return
Initial capexA$208MPublished capital estimate
Operating cost762AUD/t SC6
Post-tax, unlevered, 100%, US$1,500/t SC6 CIF, AUD/USD 0.70, real; excludes corporate costs.
Resources & reserves18
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | measured | 1.3 Mt | 1.48% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | indicated | 0.6 Mt | 1.49% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | inferred | 0.4 Mt | 1.27% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | measured | 2.8 Mt | 1.44% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | indicated | 6.5 Mt | 1.55% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | inferred | 1.1 Mt | 1.59% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | measured | 2.1 Mt | 1.33% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | indicated | 3.4 Mt | 1.32% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | inferred | 0.8 Mt | 1.14% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | indicated | 0.3 Mt | 0.66% Li2O | Lithium | 2026-06-30 |
| Ore Reserve | proved | 2.6 Mt | 1.27% Li2O | Lithium | 2026-06-30 |
| Ore Reserve | probable | 6.7 Mt | 1.32% Li2O | Lithium | 2026-06-30 |
| Ore Reserve | proved | 1.2 Mt | 1.43% Li2O | Lithium | 2026-06-30 |
| Ore Reserve | probable | 0.4 Mt | 1.41% Li2O | Lithium | 2026-06-30 |
| Ore Reserve | proved | 1.7 Mt | 1.19% Li2O | Lithium | 2026-06-30 |
| Ore Reserve | probable | 2.8 Mt | 1.19% Li2O | Lithium | 2026-06-30 |
| Ore Reserve | probable | 0.3 Mt | 0.68% Li2O | Lithium | 2026-06-30 |
| Ore Reserve | total | 15.6 Mt | 1.27% Li2O | Lithium | 2026-06-30 |
Tenements3
Milestones5
- Final Investment Decision
Achieved · High materiality
- First spodumene concentrate
Achieved · High materiality
- First shipment of new concentrate
Pending · High materiality
- BP33 first development ore
Pending · High materiality
- Nameplate 1.2Mtpa steady state
Pending · High materiality
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Mining and environmental approvals for Grants, BP33 and processing | Northern Territory | Granted | — | No |
Economic studies2
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| Finniss Restart Study | Scoping Study | Superseded | 2025-05-14 | Restart plan at US$1,330/t SC6: 1.2Mtpa DMS plant, 78% recovery, ~205ktpa SC6, A$690-785/t unit cost, A$175-200m pre-production capital, 20-year plan including Inferred and Carlton. |
| Finniss FID update | Operating Plan | Current | 2026-03-18 | FID outcomes: 17.9Mt feed @ 1.27% Li2O, 78% recovery, 2,870kt SC6, 214ktpa nameplate, A$762/t unit cost, A$208m restart capital, NPV8 A$837m post-tax / A$1,104m pre-tax at US$1,500/t CIF and AUD/USD 0.70, IRR 76.5%, ~13% Inferred material. |
Material
Finniss regional lithium resources and exploration
AU
Resource Stage100% ownedLithium
29.0Mt @ 1.14% Li2O of Mineral Resources at eight deposits outside the FID mine plan (38% Indicated by contained Li2O) plus the Blackbeard and BP33 down-plunge Exploration Targets; Blackbeard drilling under way; EL30897 acquired July 2026.
- Contained metal (attributable)
- 331.1k td
- Resource grade
- 1.14% Li2Od
- % Measured + Indicated
- 37.6%d
- Resource tonnes
- 29.01 Mtd
- Our value per attrib. contained unit
- Locked
- Mining method
- Open pit (conceptual; no mine plan)
Resources & reserves16
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | indicated | 4.2 Mt | 1.18% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | inferred | 7.1 Mt | 1.12% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | indicated | 1.7 Mt | 1.2% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | inferred | 2.9 Mt | 1.38% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | indicated | 1.8 Mt | 0.99% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | inferred | 1.4 Mt | 1.06% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | indicated | 1.5 Mt | 1.18% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | inferred | 2 Mt | 1.14% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | indicated | 0.6 Mt | 1.25% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | inferred | 0.7 Mt | 1.24% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | indicated | 1.2 Mt | 0.92% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | inferred | 0.6 Mt | 0.82% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | inferred | 1.9 Mt | 1.03% Li2O | Lithium | 2026-06-30 |
| Mineral Resource | inferred | 1.4 Mt | 1.18% Li2O | Lithium | 2026-06-30 |
| Exploration Target | exploration_target | — None | 1.5-1.7% Li2O | Lithium | 2025-05-14 |
| Exploration Target | exploration_target | — None | 1.5-1.6% Li2O | Lithium | 2025-05-14 |
Tenements1
Milestones1
- Blackbeard drilling complete
Pending · Medium materiality
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Stock database
Other assets
- Investee
- Axiant Resources Limited (ASX:AXR)
- Holding
- 33%
- Shares held
- 20.00m
- Market value
- A$3.0mm
- % of holder's market cap
- 0.4%m
- Cost basis
- —
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Cash A$199.7m plus an undrawn US$25m Nebari tranche (subject to an EV above A$350m) against A$157m remaining restart capital, ramp-up working capital and corporate costs. Our base case keeps the minimum cash above A$70m through FY28 before Grants and BP33 cash flow; a delay to BP33 or recoveries near the historical 64% would consume most of that buffer, and senior loan amortisation (3.5% a month) starts about 18 months after drawdown.
Inventory composition2
Inventory at 30 June 2026 A$7.1m (consumables A$6.2m, finished goods A$0.6m, work in progress A$0.3m); the remaining 25kt lithium fines stockpile was sold in the September quarter.
- Consumables and stores on hand (30 June 2026)
- A$6.2M carrying
- Spodumene concentrate finished goods on hand (30 June 2026)
- A$628K carrying
Capital structure
Ownership and dilution
- Ordinary shares
- 3.2B
- Fully diluted
- 3.7B
2,143,015,544 shares at 30 June 2025 + 1,050,476,190 placement shares (A$50m Sept 2025 placement and A$120m 2026 placement in two tranches) + 41,309,930 SPP shares + 2,000,000 option exercises = 3,236,801,664 at 30 June 2026, unchanged at 30 September 2026. Fully diluted adds 32,912,688 performance rights, 6,500,000 options and 396,126,984 shares on conversion of the notes. Up to 6,039,474 one-off rights for the Managing Director await AGM approval.
Security classes4
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Fully paid ordinary shares | Ordinary Share | 3.2B | — | — |
| Unquoted performance rights (incentive plan) | Performance Right | 32.9M | — | 2030-06-30 |
| Unquoted options exercisable at A$0.224 | Option | 6.5M | A$0.224 | 2027-06-30 |
| US$70m convertible notes (70,000,000 notes of US$1), conversion A$0.252; 396,126,984 shares at the 30 September 2026 A$ face of A$99.824m | Convertible | 396.1M | A$0.252 | 2032-06-30 |
Actuals and forecasts
Financial statements
| AUD | Unit | Trend | FY25AA | FY26AA |
|---|---|---|---|---|
| Profit and loss | ||||
| Revenue | AUDm | (2.4) | 17.8 | |
| Site operating costs (incl. care and maintenance in actuals) | AUDm | (18.4) | (27.5) | |
| Royalties | AUDm | (2.0) | 0.0 | |
| Corporate and administration | AUDm | (14.1) | (27.5) | |
| Other items (provision releases, NRV, fair-value gains, impairments) | AUDm | 24.2 | 18.6 | |
| EBITDA | AUDm | (12.7) | (18.5) | |
| Depreciation and amortisation | AUDm | (10.0) | (8.6) | |
| EBIT | AUDm | (22.7) | (27.1) | |
| Net interest | AUDm | (0.7) | 1.1 | |
| Income tax | AUDm | 0.0 | 0.0 | |
| Net profit after tax | AUDm | (23.4) | (26.0) | |
| Cash flow | ||||
| Operating cash flow | AUDm | (43.9) | (21.1) | |
| Total capital expenditure | AUDm | 19.4 | 24.0 | |
| Free cash flow | AUDm | (63.3) | (45.1) | |
| Equity issued net of costs | AUDm | 0.0 | 166.1 | |
| Debt and lease flows | AUDm | (0.6) | 35.1 | |
| Other investing, bonds and FX | AUDm | (0.2) | 2.3 | |
| Net change in cash | AUDm | (64.1) | 158.3 | |
| Balance sheet | ||||
| Cash | AUDm | 23.5 | 181.8 | |
| Debt (face; FY25-FY26 carrying value) | AUDm | 9.5 | 29.1 | |
| Net debt (negative = net cash) | AUDm | (14.0) | (152.7) | |
| Per share | ||||
| Diluted shares (notes as debt) | m shares | 2,143.0 | 3,236.8 | |
| Earnings per share | AUD/share | (0.01) | (0.01) | |
| Dividends per share | AUD/share | 0.00 | 0.00 | |
| Multiples and ratios | ||||
| EV / EBITDA (x, current EV) | x | (48.9) | (33.6) | |
| P / E (x, current market cap) | x | (29.1) | (26.2) | |
| FCF yield (current market cap) | % | -9.3% | -6.6% | |
| EBITDA margin | % | 523.8% | -103.4% | |
| Net debt / EBITDA (x) | x | 1.1 | 8.3 | |
KPI history
Operating metrics · Finniss Lithium Operation
| Metric | Unit | Trend | Jun Q 2026 | Sep Q 2026 |
|---|---|---|---|---|
| Mine development payments | AUD | 15,208,000 | 50,535,000 |
KPI history
Operating metrics · Company
| Metric | Unit | Trend | Sep Q 2025 | Dec Q 2025 | Mar Q 2026 | Jun Q 2026 | Sep Q 2026 |
|---|---|---|---|---|---|---|---|
| Cash at bank | AUD | 35,923,000 | 48,656,000 | 91,606,000 | 181,827,000 | 199,683,000 | |
| Net operating cash flow | AUD | (12,450,000) | (7,972,000) | (6,376,000) | 5,710,000 | (11,302,000) |
Operating metric source table16
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Cash at bank | Company | 30 Jun 2025 | Point In Time | 23,486,000 AUD | Reported |
| Cash at bank | Company | 30 Sep 2025 | Point In Time | 35,923,000 AUD | Reported |
| Cash at bank | Company | 31 Dec 2025 | Point In Time | 48,656,000 AUD | Reported |
| Cash at bank | Company | 31 Mar 2026 | Point In Time | 91,606,000 AUD | Reported |
| Cash at bank | Company | 30 Jun 2026 | Point In Time | 181,827,000 AUD | Reported |
| Cash at bank | Company | 30 Sep 2026 | Point In Time | 199,683,000 AUD | Reported |
| Net operating cash flow | Company | Sep Q 2025 | Quarter | -12,450,000 AUD | Reported |
| Net operating cash flow | Company | Dec Q 2025 | Quarter | -7,972,000 AUD | Reported |
| Net operating cash flow | Company | Mar Q 2026 | Quarter | -6,376,000 AUD | Reported |
| Net operating cash flow | Company | Jun Q 2026 | Quarter | 5,710,000 AUD | Reported |
| Net operating cash flow | Company | Sep Q 2026 | Quarter | -11,302,000 AUD | Reported |
| Mine development payments | Finniss | Jun Q 2026 | Quarter | 15,208,000 AUD | Reported |
| Mine development payments | Finniss | Sep Q 2026 | Quarter | 50,535,000 AUD | Reported |
| Revenue (net of quotational-period adjustments) | Company | FY25 | Year | -2,421,000 AUD | Reported |
| Revenue (stockpile sales) | Company | FY26 | Year | 17,846,000 AUD | Reported |
| Drawn senior loan and convertible notes (face) | Company | 30 Sep 2026 | Point In Time | 134,935,000 AUD | Reported |
Company guidance5
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Nameplate Concentrate Production (Sc6 Equivalent) From Mid 2028 | finniss | Steady state from mid-CY2028 | 214,000 | 214,000 t/yr | Current |
| Unit Operating Cost Fob Ex Royalties At Bp33 Full Capacity | finniss | Steady state | 762 | 762 AUD/t SC6 | Current |
| Restart Capital Including Contingency | finniss | FY26-FY28 | 208,000,000 | 208,000,000 AUD | Current |
| Restart Capital Remaining At 30 September 2026 | finniss | From 1 October 2026 | 157,000,000 | 157,000,000 AUD | Current |
| Plant Throughput Capacity After Brownfields Upgrades | finniss | FY27 onward | 1,200,000 | 1,200,000 t/yr ore | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-05-08Ann. 2026-03-19 | RaisingOrdinary Shares | A$120M | 571M | A$0.21 | Completed | Tranche 1 254m shares (A$53m) unconditional; Tranche 2 317m shares (A$67m) approved by shareholders and completed 8 May 2026.Max 571M · Period 2026-03-18 to 2026-05-08 · Argonaut Securities and Morgan Stanley Australia Securities · Holder approval required |
| 2026-06-30Ann. 2026-03-18 | DebtConvertible Notes (Us$1 Face) | A$37M | 25.9M | A$0.252 | Completed | US$26m Tranche 1 notes to InfraVia; 6-year maturity; 10% coupon until steady state then 8%, payable in cash or capitalised.Max 26M · From 2026-03-18 |
| 2026-08-04Ann. 2026-03-18 | DebtConvertible Notes (Us$1 Face) | A$62.2M | 44M | A$0.252 | Completed | US$44m Tranche 2 notes to Glencore (US$20m) and InfraVia (US$24m) after FIRB and shareholder approval; net A$62.2m.Max 44M · Period 2026-03-18 to 2026-08-04 · Holder approval required |
| 2026-08-04Ann. 2026-03-18 | DebtSenior Secured Loan | A$35.1M | — | — | Completed | US$25m Tranche 1 of the US$50m Nebari loan drawn (A$35.7m net); 48-month term; 3.5% monthly amortisation from month 18; Tranche 2 US$25m undrawn, needs EV above A$350m.From 2026-08-04 · SOFR + 5.0% with 3.5% SOFR floor · Holder approval required |
| 2025-09-04Ann. 2025-08-28 | Raising | A$50M | — | — | 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.
Royalties, marketing and offtake terms from the Restart Study, FID announcement, annual report and transaction releases; no commodity or FX hedges are disclosed. Mining contracts (NRW A$50m, Develop A$274m) are service contracts inside operating costs.
2.5% gross revenue royalty to Lithium Royalty Corp on Finniss product (Grants, BP33, Carlton); the prospects are held as security. Blackbeard is excluded.
Royalty · Active- Counterparties
- Lithium Royalty Corp
- Applies to
- Finniss Lithium Operation · Lithium
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- Gross revenue royalty rate: 2.5 %
Deposits covered: Grants, BP33, Carlton and certain other deposits; not Blackbeard
How it affects our valuation
No valuation treatment is available for this arrangement.
Five-year purchase and distribution (marketing) arrangement with Glencore signed with the funding package; Core keeps full flexibility to place offtake. Fees not disclosed.
Offtake · Active- Counterparties
- Glencore International AG
- Applies to
- Finniss Lithium Operation · Lithium
- Economic direction
- Mixed
- Period
- From 2026-03-18; no end date stated
- Key terms
- Term: 5 years
Scope: Glencore markets and sells all Finniss spodumene concentrate and DSO; Core may place offtake and refer customers directly
How it affects our valuation
No valuation treatment is available for this arrangement.
Equity-linked offtake right for InfraVia, conditional on ownership thresholds, at market-linked Fastmarkets pricing.
Offtake · Conditional- Counterparties
- InfraVia CMF Invest S.a r.l.
- Applies to
- Finniss Lithium Operation · Lithium
- Economic direction
- Mixed
- Period
- From 2026-03-18; no end date stated
- Key terms
- Share of production: Greater of 5% or as-converted equity ownership, capped at 12%
Pricing: Market-linked, Fastmarkets spodumene index
How it affects our valuation
No valuation treatment is available for this arrangement.
EL30897 acquired for A$3.75m cash; A$1.0m deferred cash on a Mineral Resource Estimate of at least 8Mt and a 1% gross revenue royalty capped at A$10m.
Royalty · Active- Counterparties
- Charger Metals NL
- Applies to
- Finniss regional lithium resources and exploration · Lithium
- Economic direction
- Burden
- Period
- From 2026-07-17; no end date stated
- Key terms
- Gross revenue royalty: 1 %
Royalty cap: 10,000,000 AUD
Deferred cash on an 8Mt Mineral Resource: 1,000,000 AUD
How it affects our valuation
No valuation treatment is available for this arrangement.
Core retains a 1.0% net smelter royalty over the Napperby uranium project (EL31449) sold to Elevate Uranium for A$5.0m.
Royalty · Active- Counterparties
- Elevate Uranium Ltd
- Applies to
- Company-wide · Uranium
- Economic direction
- Benefit
- Period
- From 2025-12-23; no end date stated
- Key terms
- Net smelter royalty: 1 %
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
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Sensitivity lab
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Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
This refresh reconciles the unchanged three-person V8.1 roster and adds targeted evidence through 2 November 2026. Core reported first concentrate produced while commissioning and first shipment remained pending. A newly filed Resolution Minerals Form 20-F identifies Jarek Kopias as a concurrent CFO and reports material control weaknesses, material misstatements and going-concern doubt; these are role-overlap matters, not findings of individual causation or misconduct. Dated career records, independent credential checks and targeted historical searches remain incomplete.
Decision-relevant facts
Material summary
Paul Brown
Managing Director / Chief Executive Officer and Executive Director
Company SuccessIssuer Reported · Medium materiality
Finniss restart approved and fully funded
Core’s FY2026 annual report describes board approval of the Finniss restart FID and a fully funded restart package in March 2026. Brown was MD and CEO from 2 March 2026; the evidence shows role overlap and issuer-level outcome, not that he alone delivered it.
Role overlaps event; causation unproven · The executive held the CEO/MD role during the reported decision and restart; no sole-causation inference is made.
Core Lithium Annual Report 2026 · MD and CEO letter; Finniss restart and funding section
Company SuccessIssuer Reported · Medium materiality
First concentrate produced as Finniss restart commissioning continued
Core reported first spodumene concentrate produced at Finniss during the September 2026 quarter, within six months of the March FID. The plant remained in commissioning and optimisation, and first shipment was targeted for the December quarter. Brown’s CEO/MD commentary describes team progress; the filing does not establish his individual causal contribution.
Role overlaps event; causation unproven · Brown held the MD/CEO role during the milestone and commented on it. The source describes an issuer/team outcome and does not isolate his personal contribution.
September Quarterly Activities and Cashflow Report · Highlights and MD commentary, pp. 1-2; Processing, p. 3
Evidence gaps · 2
- Targeted independent searches of regulator, court, safety and environmental records were not completed for this individual; the logged source review does not support a clearance conclusion.
- Core FY2024 disclosures describe MinRes and Fortescue roles and prior CEO roles at Hastings Technology Metals and Technology Metals Australia, but do not give complete dates or quantified individual outcomes; role overlap with project milestones does not establish sole causation.
James Virgo
Chief Financial Officer
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Targeted independent searches of regulator, court, safety and environmental records were not completed for this individual; the logged source review does not support a clearance conclusion.
- Core’s FY2024 annual report documents a four-year Resolute GM Finance/Investor Relations role, earlier EY career, 12+ years’ industry experience, CA status and June 2024 appointment; exact dates for earlier employers and independently measured results were not disclosed.
Jaroslaw (Jarek) Kopias
Company Secretary
GovernanceIssuer Reported · Medium materiality
RML reported material weaknesses and ineffective financial reporting controls
Resolution Minerals reported that material weaknesses identified in FY2024-FY2026 had resulted in material misstatements; management, under Audit Committee supervision and with CEO/CFO participation, concluded ICFR was ineffective at 30 June 2026. Kopias was RML CFO and signed the 30 October CFO certification. The auditor gave an unmodified opinion on the financial statements but was not engaged to audit ICFR and expressed no opinion on its effectiveness. These issuer disclosures do not identify individual causation or establish personal misconduct.
Role overlaps event; causation unproven · Kopias held the CFO role and participated in the assessment and certification, so the matter overlaps his role. The filings do not assign him sole or individual causal responsibility for the weaknesses or misstatements.
Resolution Minerals Ltd Form 20-F for year ended 30 June 2026 · Item 15, pp. 73 and 150; auditor report F-2
Resolution Minerals Ltd Form 20-F Exhibit 12.2: CFO certification · CFO certification, paras. 1-5
FailureIssuer Reported · Medium materiality
RML disclosed substantial going-concern doubt and short-term financing terms
For FY2026 Resolution Minerals reported a A$53.3 million net loss and A$28.3 million operating and investing cash outflows; its auditor stated these conditions raised substantial doubt about continuing as a going concern. The 28 October loan agreement provides for a facility up to A$10 million, including an A$2.5 million initial drawdown and further conditional tranches, unsecured at 12% with repayment within six months of advances. The filing does not establish all tranches were drawn or uncertainty resolved.
Role overlaps event; causation unproven · Kopias was RML CFO during the reporting period; the financial condition and financing terms are issuer-level events and do not establish personal causation.
Resolution Minerals Ltd Form 20-F for year ended 30 June 2026 · Item 3 and audited financial statements, pp. 4 and F-2
Resolution Minerals Ltd Short-Term Loan Agreement dated 28 October 2026 · Short-Term Loan Agreement, clauses 1-5
Evidence gaps · 3
- Prior roles, exact tenure, education and professional qualifications are not established by the selected evidence.
- Targeted independent searches of regulator, court, safety and environmental records were not completed for this individual; the logged source review does not support a clearance conclusion.
- The SEC-filed issuer disclosures are not independent investigations. The auditor did not audit ICFR; individual causal responsibility is not established. Broader targeted regulator, court, safety, environment and prior-employer searches remain incomplete.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-08-31 · 3,236,801,664 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 17.14% | 554,832,089 | |
| 2 | 9.21% | 298,225,294 | |
| 3 | 8.63% | 279,484,814 | |
| 4 | 3.01% | 97,310,751 | |
| 5 | 2.16% | 69,847,230 | |
| 6 | 2.09% | 67,747,063 | |
| 7 | 1.93% | 62,600,000 | |
| 8 | 1.60% | 51,932,030 | |
| 9 | 1.00% | 32,390,664 | |
| 10 | 0.87% | 28,038,515 | |
| 11 | 0.67% | 21,576,849 | |
| 12 | 0.66% | 21,311,963 | |
| 13 | 0.58% | 18,780,284 | |
| 14 | 0.50% | 16,202,912 | |
| 15 | 0.47% | 15,334,304 | |
| 16 | 0.46% | 15,000,000 | |
| 17 | 0.40% | 13,084,392 | |
| 18 | 0.34% | 10,903,629 | |
| 19 | 0.34% | 10,903,555 | |
| 20 | 0.33% | 10,603,088 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 9.53%Voting power | 2026-08-31 | |
| 6.30%Voting power | 2026-09-18 | |
| 5.11%Voting power | 2026-09-21 | |
| 5.08%Voting power | 2026-09-30 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- Registered nominee and custodian accounts do not identify beneficial owners; substantial-holder group totals overlap those accounts and should not be added to the register.
- Citigroup reported a temporary substantial position on 21 September and ceased to be substantial on 22 September; its cessation notice does not quantify its exact remaining holding.
- The 22 September VanEck Form 603 is an image-based filing; the disclosed group total and voting power were visually read from its first form page, while annexure detail was not machine-readable.
- The issuer’s register and Paradice summary are current as at 31 August 2026; subsequent capital changes could make their percentages stale, although later forms separately disclose voting power on their own dates.
Sources
- Core Lithium Annual Report 2026
Core Lithium Ltd / ASX · Published 2026-09-24 · Accessed 2026-10-09
Issuer’s substantial shareholder summary names Paradice Investment Management Pty Ltd with 308,453,563 shares (9.53%). Full 20-account register is stated as at 31 August 2026, with 3,236,801,664 ordinary shares on issue.
Local PDF downloads/CXO/2026/2026-09-24_Core Lithium 2026 Annual Report to Shareholders_f187181dbb157a11.pdf, printed pp. 119–120 (PDF pp. 121–122).
- Becoming a substantial holder
Vanguard Group / ASX · Published 2026-09-24 · Accessed 2026-10-09
Form 603 says Vanguard Group became a substantial holder on 21 September 2026 with 165,227,510 ordinary shares and 5.105% voting power.
Local PDF downloads/CXO/2026/2026-09-24_Becoming a substantial holder_af92b033dac29ce9.pdf, pp. 1–2 and Annexure A.
- Becoming a substantial holder
Van Eck Associates Corporation / ASX · Published 2026-09-22 · Accessed 2026-10-09
Form 603 identifies Van Eck Associates Corporation and associates (VanEck) and states the holder became substantial on 18 September 2026, with 203,970,356 common shares and 6.3016% voting power.
Local PDF downloads/CXO/2026/2026-09-22_Becoming a substantial holder_689e3d1ec1a234f9.pdf, Form 603 first page (document page 2 of 37); scanned page visually reviewed.
- Becoming a substantial holder
Australian Retirement Trust / ASX · Published 2026-10-02 · Accessed 2026-10-09
Form 603 says Australian Retirement Trust became substantial on 30 September 2026 with 164,397,437 ordinary shares and 5.079% voting power; it names HSBC Custody Nominees (Australia) Limited as registered holder.
Local PDF downloads/CXO/2026/2026-10-02_Becoming a substantial holder_658aba45397551e9.pdf, pp. 1–5.
- ASX announcements
Core Lithium Ltd · Published date not stated · Accessed 2026-10-09
Checked issuer announcements for later shareholder notices; the latest located ownership disclosures are the 2 October Australian Retirement Trust Form 603 and September substantial-holder forms. The 6 October AGM notice adds no newer holdings data.
Issuer announcements page reviewed through 9 October 2026.
- Becoming a substantial holder
Citigroup / ASX · Published 2026-09-23 · Accessed 2026-10-09
Citi reported 179,204,965 shares and 5.5365% on 21 September; its 24 September cessation notice says it ceased to be substantial on 22 September.
Local PDF downloads/CXO/2026/2026-09-23_Becoming a substantial holder_e5624363861cefe3.pdf, pp. 1–4.
- Ceasing to be a substantial holder
Citigroup / ASX · Published 2026-09-24 · Accessed 2026-10-09
Citi reports ceasing to be a substantial holder on 22 September 2026; it does not state the group’s exact remaining holding.
Local PDF downloads/CXO/2026/2026-09-24_Ceasing to be a substantial holder_a169bbcc782b1de6.pdf, pp. 1–3.
Disclosed activity
Insider transactions
Trading activity26 buys · 12 sells shownNet cash last 12 months A$27.4mShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-09-18 | VanEck Associates CorporationVanEck Rare Earth and Strategic Metals UCITS ETF
Details & evidence for VanEck Associates Corporation on 2026-09-18VanEck fund transaction; no account-level opening balance is given for the four-month period. As disclosed: Sale
Becoming a substantial holder ↗ | SaleOrdinary shares | 1,429,883 | — | AUD 0.37Disclosed price | — |
| 2026-09-18 | VanEck Associates CorporationVanEck Rare Earth and Strategic Metals UCITS ETF
Details & evidence for VanEck Associates Corporation on 2026-09-18VanEck fund transaction; no account-level opening balance is given for the four-month period. As disclosed: Purchase
Becoming a substantial holder ↗ | PurchaseOrdinary shares | 76,507,382 | — | AUD 0.37Disclosed price | — |
| 2026-09-18 | VanEck Associates CorporationVanEck Rare Earth and Strategic Metals ETF
Details & evidence for VanEck Associates Corporation on 2026-09-18VanEck fund transaction; no account-level opening balance is given for the four-month period. As disclosed: Purchase
Becoming a substantial holder ↗ | PurchaseOrdinary shares | 99,588,393 | — | AUD 0.37Disclosed price | — |
| 2026-09-18 | VanEck Associates CorporationVanEck S&P Global Mining UCITS ETF
Details & evidence for VanEck Associates Corporation on 2026-09-18VanEck fund transaction; no account-level opening balance is given for the four-month period. As disclosed: Purchase
Becoming a substantial holder ↗ | PurchaseOrdinary shares | 3,588,379 | — | AUD 0.37Disclosed price | — |
| 2026-09-18 | VanEck Associates CorporationVanEck S&P Global Mining UCITS ETF
Details & evidence for VanEck Associates Corporation on 2026-09-18VanEck fund transaction; no account-level opening balance is given for the four-month period. As disclosed: Purchase
Becoming a substantial holder ↗ | PurchaseOrdinary shares | 4,848 | — | AUD 0.37Disclosed price | — |
| 2026-09-18 | VanEck Associates CorporationVanEck Rare Earth and Strategic Metals ex China ETF
Details & evidence for VanEck Associates Corporation on 2026-09-18VanEck fund transaction; no account-level opening balance is given for the four-month period. As disclosed: Sale
Becoming a substantial holder ↗ | SaleOrdinary shares | 9,634 | — | AUD 0.37Disclosed price | — |
| 2026-09-14 | VanEck Associates CorporationVanEck Rare Earth and Strategic Metals ETF
Details & evidence for VanEck Associates Corporation on 2026-09-14VanEck fund transaction; no account-level opening balance is given for the four-month period. As disclosed: Purchase
Becoming a substantial holder ↗ | PurchaseOrdinary shares | 25,492,279 | — | AUD 0.3949Disclosed price | — |
| 2026-09-07 | VanEck Associates CorporationVanEck Rare Earth and Strategic Metals ex China ETF
Details & evidence for VanEck Associates Corporation on 2026-09-07VanEck fund transaction; no account-level opening balance is given for the four-month period. As disclosed: Purchase
Becoming a substantial holder ↗ | PurchaseOrdinary shares | 485 | — | AUD 0.33Disclosed price | — |
| 2026-08-06 | VanEck Associates CorporationVanEck Rare Earth and Strategic Metals ex China ETF
Details & evidence for VanEck Associates Corporation on 2026-08-06VanEck fund transaction; no account-level opening balance is given for the four-month period. As disclosed: Purchase
Becoming a substantial holder ↗ | PurchaseOrdinary shares | 55,630 | — | AUD 0.27Disclosed price | — |
| 2026-08-06 | VanEck Associates CorporationVanEck Rare Earth and Strategic Metals ex China ETF
Details & evidence for VanEck Associates Corporation on 2026-08-06VanEck fund transaction; no account-level opening balance is given for the four-month period. As disclosed: Purchase
Becoming a substantial holder ↗ | PurchaseOrdinary shares | 5,560 | — | AUD 0.27Disclosed price | — |
| 2026-08-04 | VanEck Associates CorporationVanEck Rare Earth and Strategic Metals ex China ETF
Details & evidence for VanEck Associates Corporation on 2026-08-04VanEck fund transaction; no account-level opening balance is given for the four-month period. As disclosed: Purchase
Becoming a substantial holder ↗ | PurchaseOrdinary shares | 55,643 | — | AUD 0.255Disclosed price | — |
| 2026-05-08 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-05-08Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 52,631,140 | AUD 11,052,539.40 | — | — |
| 2026-04-29 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-04-29Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Sale
Change in substantial holding ↗ | SaleFully paid ordinary shares | 17,489 | AUD 5,594.02 | — | — |
| 2026-04-16 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-04-16Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Sale
Change in substantial holding ↗ | SaleFully paid ordinary shares | 9,567 | AUD 3,251.35 | — | — |
| 2026-04-10 | Fourth Sail Capital US LP
Details & evidence for Fourth Sail Capital US LP on 2026-04-10Quantity transcribed from Annexure A's 6.723.700 notation; the source states 4.61% voting power after these reported changes but gives no exact ending share count. As disclosed: Sell
Ceasing to be a substantial holder ↗ | SaleOrdinary shares | 6,723,700 | —Not Disclosed | AUD 0.2883Disclosed price | — |
| 2026-04-09 | Fourth Sail Capital US LP
Details & evidence for Fourth Sail Capital US LP on 2026-04-09Quantity transcribed from Annexure A's 19.376.908 notation; the source states 4.61% voting power after these reported changes but gives no exact ending share count. As disclosed: Sell
Ceasing to be a substantial holder ↗ | SaleOrdinary shares | 19,376,908 | —Not Disclosed | AUD 0.2831Disclosed price | — |
| 2026-03-24 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-03-24Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 42,603,134 | AUD 8,946,677.59 | — | — |
| 2026-03-13 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-03-13Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 47,248 | AUD 10,871.83 | — | — |
| 2026-03-11 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-03-11Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 16,919 | AUD 3,977.72 | — | — |
| 2026-03-10 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-03-10Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Sale
Change in substantial holding ↗ | SaleFully paid ordinary shares | 6,325 | AUD 1,485.73 | — | — |
| 2026-03-09 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-03-09Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 58,025 | AUD 12,771.12 | — | — |
| 2026-03-05 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-03-05Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 75,447 | AUD 19,247.46 | — | — |
| 2026-03-02 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-03-02Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 9,141 | AUD 2,514.89 | — | — |
| 2026-02-27 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-02-27Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 1,973,979 | AUD 514,128.18 | — | — |
| 2026-02-26 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-02-26Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 2,978,569 | AUD 774,763.94 | — | — |
| 2026-02-24 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-02-24Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 15,507,717 | AUD 3,513,964.34 | — | — |
| 2026-02-23 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-02-23Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 2,228,714 | AUD 466,621.68 | — | — |
| 2026-02-20 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-02-20Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 6,516,923 | AUD 1,338,320.55 | — | — |
| 2026-02-19 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-02-19Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 7,914,803 | AUD 1,678,374.44 | — | — |
| 2026-01-16 | Fourth Sail Capital US LP
Details & evidence for Fourth Sail Capital US LP on 2026-01-16As disclosed: Disposal of ordinary shares on market.
Change in substantial holding ↗ | SaleOrdinary shares | 27,658,235 | — | — | 177,201,493 |
| 2026-01-05 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-01-05Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Sale
Change in substantial holding ↗ | SaleFully paid ordinary shares | 31,141 | AUD 9,026.92 | — | — |
| 2025-12-29 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2025-12-29Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Sale
Change in substantial holding ↗ | SaleFully paid ordinary shares | 42,726 | AUD 12,171.55 | — | — |
| 2025-12-12 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2025-12-12Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 41,272 | AUD 9,496.74 | — | — |
| 2025-12-09 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2025-12-09Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 1,057 | AUD 227.36 | — | — |
| 2025-11-13 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2025-11-13Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Sale
Change in substantial holding ↗ | SaleFully paid ordinary shares | 7,922,838 | AUD 1,285,310.82 | — | — |
| 2025-11-12 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2025-11-12Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Sale
Change in substantial holding ↗ | SaleFully paid ordinary shares | 1,105,746 | AUD 166,562.60 | — | — |
| 2025-11-06 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2025-11-06Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 3,331,545 | AUD 492,420.19 | — | — |
| 2025-11-05 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2025-11-05Paradice group relevant-interest trade; the filing does not allocate the transaction to a specific registered nominee account. As disclosed: Share Purchase
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 1,788,946 | AUD 224,950.75 | — | — |
Disclosed holding observations8 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 |
|---|---|---|---|---|
| 2026-09-21 | Citigroup Global Markets Australia Pty Limited and related Citigroup bodies corporate
Details & evidence for Citigroup Global Markets Australia Pty Limited and related Citigroup bodies corporate on 2026-09-21Citigroup affiliates report aggregate relevant interests; Annexure A describes securities lending and nominee arrangements.
Becoming a substantial holder ↗ | ThresholdOrdinary fully paid shares | 179,204,965 | 5.54%Voting Power |
| 2026-09-18 | VanEck Associates Corporation
Details & evidence for VanEck Associates Corporation on 2026-09-18Aggregate relevant interest reported in Form 603. Annexure B's four fund positions total 203,970,356: Rare Earth and Strategic Metals ETF 125,080,672; ex China ETF 218,958; S&P Global Mining UCITS ETF 3,593,227; Rare Earth and Strategic Metals UCITS ETF 75,077,499. The account amounts are included here for reconciliation, not as additional holdings to sum with the group total.
Becoming a substantial holder ↗ Becoming a substantial holder ↗ | ThresholdOrdinary shares | 203,970,356 | 6.30%Voting Power |
| 2026-05-08 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-05-08Form 604 reports the aggregate present relevant interest and voting power after the disclosed Annexure 1 trades.
Change in substantial holding ↗ Change in substantial holding ↗ | PositionFully paid ordinary shares | 308,453,563 | 9.53%Voting Power |
| 2026-03-18 | Citigroup Global Markets Australia Pty Limited and related Citigroup bodies corporate
Details & evidence for Citigroup Global Markets Australia Pty Limited and related Citigroup bodies corporate on 2026-03-18Aggregate relevant interest of Citigroup affiliates; the notice includes securities lending and ordinary-course contractual positions and should not be read as beneficial long-term ownership.
Becoming a substantial holder ↗ | ThresholdOrdinary fully paid shares | 185,934,572 | 6.98%Voting Power |
| 2026-02-24 | Paradice Investment Management Pty Ltd
Details & evidence for Paradice Investment Management Pty Ltd on 2026-02-24Form 604 reports the aggregate present relevant interest and voting power after the disclosed annexure changes.
Change in substantial holding ↗ Change in substantial holding ↗ | PositionFully paid ordinary shares | 208,093,342 | 7.82%Voting Power |
| 2026-01-28 | Citigroup Global Markets Australia Pty Limited and related Citigroup bodies corporate
Details & evidence for Citigroup Global Markets Australia Pty Limited and related Citigroup bodies corporate on 2026-01-28Reported aggregate of Citigroup affiliates, including securities lending and market-contract interests; not treated as a single beneficial account.
Becoming a substantial holder ↗ | ThresholdOrdinary fully paid shares | 138,138,697 | 5.19%Voting Power |
| 2026-01-16 | Fourth Sail Capital US LP
Details & evidence for Fourth Sail Capital US LP on 2026-01-16Present reported relevant interest held through Goldman Sachs as custodian; voting power printed as 6.66%.
Change in substantial holding ↗ | PositionOrdinary shares | 177,201,493 | 6.66%Voting Power |
| 2025-10-22 | Fourth Sail Capital US LP
Details & evidence for Fourth Sail Capital US LP on 2025-10-22Form 603 identifies Fourth Sail Capital US LP as beneficial owner via custodian; this is a threshold snapshot, not a purchase record.
Becoming a substantial holder ↗ | ThresholdOrdinary shares | 204,859,728 | 7.70%Voting Power |
The closest covered peers
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Narrative and provenance
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Sign in or enter a guest codeChronological evidenceSource-document inventory25 documents
Market snapshot and peer database rows at 31 October 2026Market Data · HighExtracted
Local research product: python -m miners.v8db.market_snapshot CXO --cutoff 2026-10-31 --shares 3236801664 (returns 1m -34.4%, 3m -12.5%, 12m +75.0%, 3y -41.7%; relative to the mining index 1m -24.2%, 12m +66.2%, 3y -82.2%; 52-week range A$0.125-0.42; 20-day average traded value A$7.0m, 60-day A$12.6m; AUD/USD 0.7025) plus lithium peer rows read from data/miners_v8.db stock_daily at 30 October 2026 (PLS, LTR, IGO, ELV, A11, VUL, LKE).
- Document ID
- cxo-market-snapshot-20261031
- Published UTC
- 2026-10-30T23:00:00Z
- Projects
- —
- Commodities
- lithium
Local insider-dealings record for CXO (data/insider-transactions.db)Other · MediumExtracted
python -m miners.insider_transactions show CXO (directors view, status partial): no on-market director purchases or sales recorded since March 2023; recorded items are a November 2025 off-market transfer by Malcolm McComas with no change in beneficial ownership, a June 2025 cancellation of Alicia Sherwood's rights, and 2023 option exercises and a sale by Greg English. 2026 placement participation by directors is disclosed in the annual report holdings.
- Document ID
- cxo-insider-dealings
- Published UTC
- 2026-10-30T23:00:00Z
- Projects
- —
- Commodities
- lithium
CXO closing price 30 October 2026 (A$0.21, volume 56,790,931)Market Data · HighExtracted
Latest eligible local ASX close on or before the cutoff from python -m miners.reference_price CXO --valuation-date 2026-10-31 (market data provider via miners.collect_stock_prices; one ASX CXO ordinary share; close A$0.21, high A$0.222, low A$0.202, volume 56,790,931; freshness 1 day).
- Document ID
- cxo-close-20261030
- Published UTC
- 2026-10-30T06:10:00Z
- Projects
- —
- Commodities
- lithium
GFEX lithium carbonate most-active futures settlement historyCommodity Data · MediumExtracted
Local commodity database data/metal_prices.db series gfex:lc: lithium carbonate settled CNY 91,140/t on 29 October 2026, down from CNY 118,820/t on 30 September, CNY 153,300/t on 3 September and a peak near CNY 201,840/t on 13 May 2026 (CNY 73,700/t on 29 September 2025).
- Document ID
- gfex-lc-20261029
- Published UTC
- 2026-10-29T05:30:00Z
- Projects
- —
- Commodities
- lithium
Notice of 2026 AGM and Proxy FormGovernance · LowExtracted
Notice of 2026 AGM (25 November 2026): director elections (Brown, Hine, Neuling, McComas), NED fee pool increase, new constitution, STI/LTI and a one-off Finniss Payback incentive of up to 6,039,474 performance rights for the Managing Director.
- Document ID
- cxo-agm-notice-20261023
- Published UTC
- 2026-10-22T22:30:00Z
- Projects
- —
- Commodities
- lithium
SMM Australian spodumene concentrate 6% CIF China price pageCommodity Data · MediumExtracted
Shanghai Metals Market assessment of Australian SC6 spodumene CIF China, reported at about US$1,485/t on 22 October 2026 in a month-end lithium roundup (secondary search result; page values not machine-readable). Used only as the spot reference for the deck, adjusted for the subsequent fall in GFEX carbonate.
- Document ID
- smm-spodumene-cif-20261022
- Published UTC
- 2026-10-22T07:00:00Z
- Projects
- —
- Commodities
- lithium
Quarterly Activities and Cashflow ReportOperations · HighExtracted
September 2026 quarter activities report and Appendix 5B: first spodumene concentrate produced from the upgraded DMS plant, first shipment targeted for the December quarter, BP33 decline and portal advancing, NMRD100 34.08m @ 2.09% Li2O, Tranche 2 convertible note (A$62.2m net) and senior loan Tranche 1 (A$35.7m net) received, cash A$199.7m at 30 September 2026, Axiant spin-out completed (33% retained).
- Document ID
- cxo-q1fy27
- Published UTC
- 2026-10-13T22:30:00Z
- Projects
- finniss · finniss-regional
- Commodities
- lithium
September Quarterly Report PresentationPresentation · MediumExtracted
September 2026 quarter presentation: 1.2Mtpa throughput, 257ktpa SC5 (214ktpa SC6) nameplate, SC5 unit cost A$635/t (A$762/t SC6), A$157m restart capital remaining and A$244m available funding; Mineral Resource and Ore Reserve appendices.
- Document ID
- cxo-q1pres
- Published UTC
- 2026-10-13T22:30:00Z
- Projects
- finniss
- Commodities
- lithium
Local management assessment for CXO (management/CXO/summary.md and background-check.json)Leadership · MediumExtracted
Local research product management/CXO/summary.md with background-check.json: executive team assessment 38/100 with low evidence confidence (incomplete biographies, adverse-record searches not completed); notes Paul Brown held the CEO/MD role during the FID and fully funded restart without inferring sole causation.
- Document ID
- cxo-management-assessment
- Published UTC
- 2026-10-08T23:00:00Z
- Projects
- —
- Commodities
- lithium
Local ownership register for CXO (ownership/CXO/investors.json)Other · MediumExtracted
Local research product ownership/CXO/investors.json (reviewed 9 October 2026): top-20 register at 31 August 2026 (52.40% of 3,236,801,664 shares) and substantial holders Paradice 9.53% (31 Aug 2026), VanEck 6.30% (18 Sep 2026), Vanguard 5.105% (21 Sep 2026) and Australian Retirement Trust 5.079% (30 Sep 2026), from Form 603 notices.
- Document ID
- cxo-investor-register
- Published UTC
- 2026-10-08T23:00:00Z
- Projects
- —
- Commodities
- lithium
Benchmark: Lithium price reversal gets respite then deepens - Q3 2026 Lithium Price ReviewCommodity Data · MediumExtracted
Benchmark Mineral Intelligence quarterly review (2 October 2026): spodumene FOB Australia US$1,780/t at end-Q3 2026, down 23.5% in the quarter; battery-grade carbonate RMB127,750/t (US$19,025/t), down 20.8%. Drivers: CATL Jianxiawo mine back into care and maintenance after its environmental approval was revoked; restarts of Bald Hill and Core's Finniss adding feedstock; Chinese battery tax exemption removal; a mid-September sell-off. Benchmark still sees strong fundamentals.
- Document ID
- bmi-q3-2026-review
- Published UTC
- 2026-10-01T23:00:00Z
- Projects
- —
- Commodities
- lithium
Core Lithium 2026 Annual Report to ShareholdersResults · HighExtracted
FY26 annual report (year to 30 June 2026): audited statements (revenue A$17.8m from stockpile sales, net loss A$26.0m, cash A$181.8m, convertible note liability A$29.1m), 3,236,801,664 shares, FY26 Mineral Resource 48.5Mt @ 1.26% Li2O and Ore Reserve 15.6Mt @ 1.27% Li2O, directors and executives, tax losses A$372.4m, top-20 register at 31 August 2026.
- Document ID
- cxo-ar26
- Published UTC
- 2026-09-23T22:30:00Z
- Projects
- finniss · finniss-regional
- Commodities
- lithium
Motley Fool Australia: Core Lithium shares jump 8% after a milestone investors have waited months forOther · MediumExtracted
News article on first concentrate (8 September 2026) citing TipRanks: two analyst ratings in the prior three months with an average 12-month target of A$0.28, about 21% below the share price at the time. Used only to test the thesis, never as a fair-value anchor.
- Document ID
- fool-cxo-20260908
- Published UTC
- 2026-09-08T02:00:00Z
- Projects
- —
- Commodities
- lithium
IEA Global Critical Minerals Outlook 2026 (launch and press coverage)Commodity Data · MediumExtracted
IEA Global Critical Minerals Outlook 2026, launched mid-July 2026. Press coverage (for example Tribune India, 17 July 2026) reports that the IEA sees lithium and copper supply facing deficits through 2035 in its outlook, and that critical-minerals investment fell 9% in 2025; secondary sources also describe near-term oversupply being worked through. Report figures were not read directly.
- Document ID
- iea-gcmo-2026
- Published UTC
- 2026-07-17T02:00:00Z
- Projects
- —
- Commodities
- lithium
Quarterly Activities and Cashflow ReportOperations · MediumExtracted
June 2026 quarter activities report and Appendix 5B: Grants open-pit mining restarted (NRW), Develop Global mobilised at BP33, first shipment of 20kt fines and 5kt concentrate stockpiles, cash A$181.8m, Tranche 1 convertible notes A$37.0m.
- Document ID
- cxo-q4fy26
- Published UTC
- 2026-07-14T22:30:00Z
- Projects
- finniss
- Commodities
- lithium
Exploration Program Commenced and Bynoe Tenement AcquiredTransaction · LowExtracted
Blackbeard drilling commenced and Bynoe tenement EL30897 acquired from Charger Metals: A$3.75m cash, A$1.0m deferred on a Mineral Resource Estimate, 1% gross revenue royalty capped at A$10m; Blackbeard best previous intersection 63m @ 1.67% Li2O.
- Document ID
- cxo-bynoe-20260619
- Published UTC
- 2026-06-18T22:30:00Z
- Projects
- finniss-regional
- Commodities
- lithium
Quarterly Activities and Cashflow ReportOperations · MediumExtracted
March 2026 quarter activities report and Appendix 5B: FID, Tranche 1 placement A$53.3m, cash A$91.6m at 31 March 2026.
- Document ID
- cxo-q3fy26
- Published UTC
- 2026-04-22T22:30:00Z
- Projects
- finniss
- Commodities
- lithium
$120 million Institutional Placement Supports Finniss FIDFinancing · MediumExtracted
A$120m two-tranche institutional placement at A$0.21 completed (254m shares unconditional, 317m conditional on shareholder approval).
- Document ID
- cxo-placement-20260319
- Published UTC
- 2026-03-18T22:30:00Z
- Projects
- finniss
- Commodities
- lithium
FID Approved and Funding Secured for Finniss RestartStudy · HighExtracted
Final Investment Decision and funding package for the Finniss restart: US$70m convertible notes (Glencore, InfraVia; A$0.252 conversion; 10% coupon until steady state then 8%), US$50m Nebari senior loan (SOFR+5%, 3.5% floor, 48 months), A$120m placement at A$0.21; FID economics NPV8 A$837m post-tax / A$1,104m pre-tax at US$1,500/t SC6 CIF and AUD/USD 0.70, 17.9Mt feed, 78% recovery, 2,870kt SC6, A$762/t unit cost, A$208m restart capital, 20-year life; Glencore 5-year marketing arrangement; InfraVia equity-linked offtake right.
- Document ID
- cxo-fid-20260318
- Published UTC
- 2026-03-17T22:30:00Z
- Projects
- finniss
- Commodities
- lithium
Board and Management UpdatesLeadership · MediumExtracted
Paul Brown appointed Managing Director and CEO (CEO since June 2024); Mark Hine appointed independent non-executive director.
- Document ID
- cxo-board-20260302
- Published UTC
- 2026-03-01T22:30:00Z
- Projects
- —
- Commodities
- lithium
Quarterly Activities and Cashflow ReportOperations · LowExtracted
December 2025 quarter activities report and Appendix 5B: uranium assets sold to Elevate Uranium (A$2.5m cash received), cash A$48.7m at 31 December 2025.
- Document ID
- cxo-q2fy26
- Published UTC
- 2026-01-21T22:30:00Z
- Projects
- finniss
- Commodities
- lithium
EL8:Acquisition of Napperby Uranium ResourceTransaction · LowExtracted
Elevate Uranium announcement of its acquisition of Uranium Generation Pty Ltd (Napperby) from Core: A$5.0m consideration (A$2.5m cash and 8,923,738 EL8 shares) plus a 1.0% net smelter royalty to Core on Napperby production.
- Document ID
- el8-napperby-20251223
- Published UTC
- 2025-12-22T22:30:00Z
- Projects
- —
- Commodities
- uranium
Updated Grants Mine Plan and Ore ReserveReserve Update · MediumExtracted
Updated Grants mine plan: Grants restarts as an open pit then transitions underground; Grants Ore Reserve 1.53Mt @ 1.42% Li2O (22kt contained) at 30 October 2025.
- Document ID
- cxo-grants-reserve-20251110
- Published UTC
- 2025-11-09T22:30:00Z
- Projects
- finniss
- Commodities
- lithium
Quarterly Activities and Cashflow ReportOperations · LowExtracted
September 2025 quarter activities report and Appendix 5B: A$33.5m placement proceeds, Carlton reserve update, cash A$35.9m at 30 September 2025.
- Document ID
- cxo-q1fy26
- Published UTC
- 2025-10-12T22:30:00Z
- Projects
- finniss
- Commodities
- lithium
Restart Study Repositions Finniss OperationsStudy · HighExtracted
Finniss Restart Study (May 2025, scoping-level overall): production history (2022 start, 46.6% then 64.4% recovery), geology, BP33 and Carlton underground designs, annual production plan (Table 7-2), costs, royalties (LRC 2.5% gross revenue royalty; NT Mineral Royalty Act), power by diesel generation, Darwin Port logistics. Economics superseded by the FID update.
- Document ID
- cxo-restart-study-20250514
- Published UTC
- 2025-05-13T22:30:00Z
- Projects
- finniss
- Commodities
- lithium
Evidence facts68
17846000 AUD
2026-06-30-25960000 AUD
2026-06-30-23370000 AUD
2025-06-30-18455000 AUD
2026-06-30-21087000 AUD
2026-06-3024012000 AUD
2026-06-30181827000 AUD
2026-06-3023486000 AUD
2025-06-3029121000 AUD
2026-06-304792000 AUD
2026-06-30375828000 AUD
2026-06-303236801664 shares
2026-06-302143015544 shares
2025-06-300 AUD/share
2026-09-24100 %
2026-06-305400000.0 t
2026-06-301.28 % Li2O
2026-06-3069000.0 t
2026-06-3010200000.0 t
2026-06-301.27 % Li2O
2026-06-30129000.0 t
2026-06-3015600000.0 t
2026-06-301.27 % Li2O
2026-06-30198000.0 t
2026-06-306330000 t
2026-06-301.411 % Li2O
2026-06-3089300 t
2026-06-3010860000 t
2026-06-301.449 % Li2O
2026-06-30157400 t
2026-06-302290000 t
2026-06-301.384 % Li2O
2026-06-3031700 t
2026-06-3019480000 t
2026-06-301.429 % Li2O
2026-06-30278400 t
2026-06-3011040000 t
2026-06-301.128 % Li2O
2026-06-30124500 t
2026-06-3017970000 t
2026-06-301.15 % Li2O
2026-06-30206600 t
2026-06-3029010000 t
2026-06-301.141 % Li2O
2026-06-30331100 t
2026-06-300.5% Li2O text
2026-06-300.5% Li2O text
2026-06-30199683000 AUD
2026-09-30134935000 AUD
2026-09-3035112000 AUD
2026-09-3014134000 AUD
2026-09-303236801664 shares
2026-09-303672341336 shares
2026-09-300 AUD
2026-09-30100 %
2026-09-30Blackbeard 7.0-10.0Mt @ 1.5-1.7% Li2O (conceptual); BP33 down-plunge 3.9-6.5Mt @ 1.5-1.6% Li2O (conceptual) text
2026-09-30Axiant Resources Limited (ASX:AXR) text
2026-09-3033 %
2026-09-3033 %
2026-09-3020000000 shares
2026-09-30837000000 AUD
2026-03-1876.5 %
2026-03-18208000000 AUD
2026-03-1820 years
2026-03-1878 %
2026-03-181200000 t/yr
2026-03-18Open pit (conceptual; no mine plan) text
2025-05-140.21 AUD/share
2026-10-30Conflicts requiring judgment1
- cash
Different balance dates: 30 September 2026 Appendix 5B cash (A$199.7m) is the latest and is used in the equity bridge; 30 June 2026 audited cash (A$181.8m) is kept for the financial model.