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- Last 2026-11-06
- A$0.22
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
- Locked: sign in to view
- Mkt cap
- A$103.6M
- EV
- A$75.9M
- Cash
- A$28.8M
- Debt
- A$0
7 newer ASX announcements not yet reflected in this valuation
- Update to Acquisition of 15% of MarenicaMaterial Corporate Transaction
- Application for quotation of securities - EL8Post Cash Checkpoint Security Event
- Quarterly Activities/Appendix 5B Cash Flow ReportLatest Four Activities Reports
- Notification regarding unquoted securities - EL8Post Cash Checkpoint Security Event
- Proposed issue of securities - EL8Post Cash Checkpoint Security Event
- Annual Report to shareholdersLatest Annual Report
- Update - Proposed issue of securities - EL8Post Cash Checkpoint Security Event
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Sign in or enter a guest codeAnnouncements
Latest 12 of 18All sources ▸- Update - Proposed issue of securities - EL8Financing
- Update to - Elevate Lifts Marenica Project OwnershipTransaction
- Update - Proposed issue of securities - EL8Financing
- Application for quotation of securities - EL8Financing
- Quarterly Activities and Appendix 5B - June 2026Results
- Proposed issue of securities - EL8Financing
- Notification of cessation of securities - EL8Corporate Action
- Quarterly Activities and Appendix 5B - March 2026Operations
- Half Yearly Report and AccountsResults
- Oobagooma Acquisition UpdateTransaction
- Presentation - 121 Cape TownPresentation
- Marenica Resource Update Doubles GradeResource Update
Event calendar · next 12 months
7 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| 30 September 2026 | Marenica final 5% acquisition closing deadline | Transaction | Confirmed | High | Completion would lift ownership to 90%, trigger A$1.1m of share consideration and extinguish the A$3.425m receivable. |
| late CY2026 | Marenica conversion and extension drilling | Exploration | Company Guided | Medium | More Indicated material could improve the foundation for a scoping study. |
| Q4 2026 | Integrated U-pgrade Stage 5 pilot operation and optimisation | Construction Or Commissioning | Company Guided | High | Stage 5 grade and recovery will test the process advantage that underpins Marenica economics. |
| 2 October 2026 | Angela exploration licence expiry or renewal | Permitting | Confirmed | Medium | Renewal status affects tenure over the 30.8 Mlb Angela resource. |
| Q1 2027 | U-pgrade Pilot Plant testing of Koppies ore | Construction Or Commissioning | Company Guided | High | Koppies-specific metallurgical response could support or weaken the largest asset calibration. |
| Q1 2027 | Marenica Scoping Study commencement | Study | Company Guided | High | Study launch is the first step toward economic evidence, but a completed study is not yet scheduled. |
| after late-CY2026 drilling | Marenica resource update after late-2026 drilling | Resource Or Reserve | Company Guided | Medium | Updated resource classification and grade could change the stage-weighted resource valuation. |
Executive roster
As of 2026-09-25Background checks ▸The 2026 audited annual report identifies the two executive key management personnel and company secretary as of report date. The 9 September issuer presentation spells out the CFO and company secretary’s first name; no later leadership change was found before cutoff.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Murray Hill | Managing Director · Chief Executive Officer | Executive Director · Chief Executive | 2012-05-01 | 2026 Annual Financial Report |
| Shane McBride | Chief Financial Officer · Company Secretary | Finance · Company Secretary | — | 2026 Annual Financial Report · World Nuclear Symposium Presentation |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Koppies Uranium Project
Namibia
Resource Stage100% ownedUranium
Pre-development resource-stage project comprising Koppies, Hirabeb and Namib IV; renewal applications for key EPLs were pending at 30 June 2026.
- Contained metal (attributable)
- 76.2m lbd
- Resource grade
- 186 ppm U3O8
- % Measured + Indicated
- 57.2%d
- Resource tonnes
- 186.20 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Project location
Approximate location
Loading imagery…
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Resources & reserves4
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Indicated | 98 Mt | 200 ppm U3O8 at 100 ppm cut-off | Uranium | 2026-06-30 |
| Mineral Resource | Inferred | 35.4 Mt | 160 ppm U3O8 at 100 ppm cut-off | Uranium | 2026-06-30 |
| Mineral Resource | Inferred | 23.3 Mt | 200 ppm U3O8 at 100 ppm cut-off | Uranium | 2026-06-30 |
| Mineral Resource | Inferred | 29.5 Mt | 155 ppm U3O8 at 100 ppm cut-off | Uranium | 2026-04-15 |
Tenements4
Milestones2
- Commence technical studies after pilot-plant data are available
Pending · High materiality
- Test Koppies ore through the U-pgrade Pilot Plant
Pending · High materiality
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Koppies-area EPL renewals | Namibia | Pending | — | Yes |
Core asset
Marenica Uranium Project
Namibia
Scoping Study Developer85% ownedUranium
Current ownership remains 85% as confirmed in the 25 September annual report; final 5% acquisition is conditional with extended 30 September 2026 close. Resource figures are on a 100% project basis, while the company headline 181 Mlb portfolio total uses prospective 90% Marenica ownership.
- Contained metal (attributable)
- 44.9m lbd
- Resource grade
- 180 ppm U3O8
- % Measured + Indicated
- 14.2%d
- Resource tonnes
- 134.50 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Project location
Approximate location
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Published study economicsIssuer or study metrics
No numeric study economics were published.
Bench-scale U-pgrade testing indicated about 98% mass rejection and potential approximately 50% capex and opex reduction, but no current study-level economics were disclosed.
Resources & reserves2
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Indicated | 16.8 Mt | 205 ppm U3O8 at 100 ppm cut-off | Uranium | 2026-06-10 |
| Mineral Resource | Inferred | 117.7 Mt | 175 ppm U3O8 at 100 ppm cut-off | Uranium | 2026-06-10 |
Tenements1
Milestones4
- Release U-pgrade pilot plant results
Achieved · High materiality
- Complete acquisition of remaining 5% to reach 90% ownership
Pending · Medium materiality
- Achieve integrated steady-state operation and optimise all five U-pgrade stages
Pending · High materiality
- Commence Marenica Scoping Study
Pending · High materiality
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Future project development and mining approvals | Namibia | Required | — | Yes |
Economic studies1
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| 2017 Marenica Scoping Study | Scoping Study | Superseded | 2017-04-18 | Historical scoping study predates the current JORC 2012 resource and the pilot-scale validation program; it is not used as current NAV evidence. |
Material
Angela Uranium Project
Australia
Resource Stage100% ownedUranium
High-grade Northern Territory resource with exploration below the known lens; no current economic study or reserve.
- Contained metal (attributable)
- 30.8m lbd
- Resource grade
- 1,310 ppm U3O8
- % Measured + Indicated
- 0%d
- Resource tonnes
- 10.70 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Project location
Site imagery
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Resources & reserves1
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Inferred | 10.7 Mt | 1,310 ppm U3O8 at 300 ppm cut-off | Uranium | 2026-06-30 |
Tenements1
Milestones1
- Assess deep-hole results and define follow-up drilling
Pending · Medium materiality
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| EL 25758 renewal or extension | Northern Territory, Australia | Required | 2026-10-02 | Yes |
Material
Napperby Uranium Project
Australia
Resource Stage100% ownedUranium
Shallow Northern Territory resource acquired in December 2025; prior testwork indicated U-pgrade amenability and a 1% net smelter royalty applies.
- Contained metal (attributable)
- 8.0m lbd
- Resource grade
- 382 ppm U3O8
- % Measured + Indicated
- 0%d
- Resource tonnes
- 9.50 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Project location
Approximate location
Loading imagery…
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Resources & reserves1
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Inferred | 9.5 Mt | 382 ppm U3O8 at 200 ppm cut-off | Uranium | 2025-12-23 |
Tenements1
Milestones1
- Design infill drilling across the wider mineralised envelope
Pending · Medium materiality
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Future development approvals | Northern Territory, Australia | Required | — | No |
Material
Thatcher Soak Uranium Project
Australia
Resource Stage100% ownedUranium
Western Australian resource-stage project; no current development study or reserve is disclosed.
- Contained metal (attributable)
- 10.9m lbd
- Resource grade
- 425 ppm U3O8
- % Measured + Indicated
- 0%d
- Resource tonnes
- 11.60 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Project location
Approximate location
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Resources & reserves1
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Inferred | 11.6 Mt | 425 ppm U3O8 at 150 ppm cut-off | Uranium | 2026-06-30 |
Tenements1
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Future uranium development approvals | Western Australia | Required | — | Yes |
Material
Bigrlyi Uranium Joint Venture
Australia
Resource Stage20.82% ownedUraniumOthers
Energy Metals-operated Ngalia Basin joint venture; the latest resource contains measured, indicated and inferred material and potential vanadium by-product value.
- Contained metal (attributable)
- 5.0m lbd
- Resource grade
- 1,370 ppm U3O8
- % Measured + Indicated
- 69.5%d
- Resource tonnes
- 7.90 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Project location
Site imagery
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Resources & reserves3
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Measured | 1.7 Mt | 1,300 ppm U3O8 at 500 ppm cut-off | Uranium · Others | 2025-02-25 |
| Mineral Resource | Indicated | 3.8 Mt | 1,410 ppm U3O8 at 500 ppm cut-off | Uranium · Others | 2025-02-25 |
| Mineral Resource | Inferred | 2.5 Mt | 1,340 ppm U3O8 at 500 ppm cut-off | Uranium · Others | 2025-02-25 |
Tenements1
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Future development approvals | Northern Territory, Australia | Required | — | No |
Material
Attributable Ngalia JV resource basket
Australia
Resource Stage100% ownedUranium
Portfolio of Walbiri, Sundberg, Hill One, Karins and Malawiri resources with differing interests of approximately 20.82% to 23.97%; valued conservatively as a portfolio rather than as one ownership percentage. For valuation only, 100% refers to the already-attributable 2.35 Mlb basket; underlying legal JV percentages differ by prospect.
- Contained metal (attributable)
- 2.4m lbd
- Resource grade
- 612 ppm U3O8d
- % Measured + Indicated
- 0%d
- Resource tonnes
- 1.75 Mtd
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Project location
Approximate location
Loading imagery…
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Resources & reserves1
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Measured, Indicated and Inferred attributable portfolio | — None | approximately 980 ppm U3O8 on the reported attributable aggregate | Uranium | 2026-06-30 |
Tenements3
Material
Namibia Exploration Portfolio
Namibia
Discovery Drill Stage100% ownedUranium
Capri and surrounding Central Erongo and Koppies-area exploration licences and applications; no current JORC resource is disclosed outside projects separately recorded.
- Ownership
- 100%r
- Commodity
- U3O8r
- Country
- NAr
- Best recent intercept (grade x width)
- —
- Metres drilled (12M)
- 1,878 m
- Exploration spend (12M)
- —
Project location
Approximate location
Loading imagery…
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Tenements3
Milestones1
- Define a maiden Capri resource when drilling density supports estimation
Pending · Medium materiality
Material
Australian Exploration Portfolio
Australia
Discovery Drill Stage100% ownedUranium
Minerva, Fitton, Entia and adjacent wholly owned exploration tenements with high-grade historical intersections or targets but no current JORC resources separately disclosed.
- Ownership
- 100%r
- Commodity
- U3O8r
- Country
- AUr
- Best recent intercept (grade x width)
- —
- Metres drilled (12M)
- —
- Exploration spend (12M)
- —
Tenements4
Milestones1
- Prioritise follow-up drilling at Minerva, Fitton and Entia
Pending · Medium materiality
Other
Oobagooma Uranium Project
Australia
Early Explorer100% ownedUranium
Elevate remains legal owner while the conditional sale to Orpheus is incomplete; consideration includes cash, ORP shares and milestones, and access, heritage and Western Australian uranium-policy constraints are material.
- Ownership
- 100%r
- Commodity
- U3O8r
- Country
- AUr
- Best recent intercept (grade x width)
- —
- Metres drilled (12M)
- —
- Exploration spend (12M)
- —
Project location
Approximate location
Loading imagery…
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Tenements1
Milestones1
- Satisfy conditions and complete sale to Orpheus
Delayed · Medium materiality
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Defence-land access and heritage agreements | Western Australia | Required | — | Yes |
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Audited cash covered about 5.9 June-quarter burn periods at 30 June. The July A$1.1 million Marenica settlement and continuing pilot, drilling and study expenditure reduce later liquidity; mine construction funding is uncommitted.
Capital structure
Ownership and dilution
- Ordinary shares
- 471.1M
- Fully diluted
- 498.4M
Audited 30 June 2026 ordinary shares 465,968,122 plus 4,701,659 July Marenica consideration shares equals 470,669,781. A secondary summary of the 11 September Appendix 3Y reports 390,091 rights converted to shares and 257,363 rights lapsed; this implies 471,059,872 ordinary shares. The 400,000 August 2026 options expired. Estimated unquoted options and rights now total 27,356,339, yielding 498,416,211 fully diluted shares before conditional final Marenica consideration. Confirm September Appendix 2A directly at next refresh.
Security classes14
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Ordinary fully paid shares | Ordinary Share | 471.1M | — | — |
| Options expiring 30 November 2026 | Option | 7.2M | A$0.72 | 2026-11-30 |
| Retention rights | Performance Right | 830K | A$0 | — |
| Service rights | Performance Right | 228.9K | A$0 | — |
| Options expiring 8 September 2028 | Option | 70K | A$0.5 | 2028-09-08 |
| Performance rights | Performance Right | 2.4M | A$0 | — |
| Options expiring 13 October 2029 | Option | 2.4M | A$0.65 | 2029-10-13 |
| Options expiring 16 January 2027 | Option | 670K | A$0.65 | 2027-01-16 |
| Options expiring 20 December 2026 | Option | 3M | A$0.8 | 2026-12-20 |
| Options expiring 30 June 2028 | Option | 200K | A$0.7 | 2028-06-30 |
| Options expiring 18 July 2027 | Option | 200K | A$0.45 | 2027-07-18 |
| Options expiring 24 November 2026 | Option | 5.8M | A$0.64 | 2026-11-24 |
| Options expiring 26 February 2028 | Option | 1.5M | A$0.75 | 2028-02-26 |
| Options expiring 1 December 2029 | Option | 2.9M | A$0.41 | 2029-12-01 |
KPI history
Operating metrics · Company
| Metric | Unit | Trend | September quarter 2025 | December quarter 2025 | March quarter 2026 | June quarter 2026 |
|---|---|---|---|---|---|---|
| Cash at quarter end (Appendix 5B) | AUD | 18,872,000 | 36,659,000 | 33,997,000 | 28,830,000 | |
| Appendix 5B operating cash flow | AUD | (2,145,000) | (3,886,000) | (2,259,000) | (4,893,000) |
Operating metric source table13
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Exploration spend, June quarter | Company | June quarter 2026 | Quarter | 4,091,377 AUD exploration expenditure | Reported |
| Operating cash flow June quarter | Company | June quarter 2026 | Quarter | -4,893,000 AUD | Reported |
| Operating cash flow FY2026 | Company | FY2026 | Year | -12,702,085 AUD | Reported |
| Pilot Stage 1–4 mass rejected | Marenica | Pilot stages 1-4 result at 31 August 2026 | Point In Time | 88 percent of feed mass rejected | Reported |
| Pilot Stage 1–4 uranium retained | Marenica | Pilot stages 1-4 result at 31 August 2026 | Point In Time | 79 percent uranium recovery to Stage 5 feed | Reported |
| Cash at quarter end (Appendix 5B) | Company | September quarter 2025 | Point In Time | 18,872,000 AUD | Reported |
| Appendix 5B operating cash flow | Company | September quarter 2025 | Quarter | -2,145,000 AUD | Reported |
| Cash at quarter end (Appendix 5B) | Company | December quarter 2025 | Point In Time | 36,659,000 AUD | Reported |
| Appendix 5B operating cash flow | Company | December quarter 2025 | Quarter | -3,886,000 AUD | Reported |
| Cash at quarter end (Appendix 5B) | Company | March quarter 2026 | Point In Time | 33,997,000 AUD | Reported |
| Appendix 5B operating cash flow | Company | March quarter 2026 | Quarter | -2,259,000 AUD | Reported |
| Cash at quarter end (Appendix 5B) | Company | June quarter 2026 | Point In Time | 28,830,000 AUD | Reported |
| Appendix 5B operating cash flow | Company | June quarter 2026 | Quarter | -4,893,000 AUD | Reported |
Company guidance5
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| U Pgrade Pilot Plant Results Release Timing | marenica | Stages 1-4 results released 31 August 2026; Stage 5 integrated results pending | — | — calendar timing | Achieved |
| Marenica Infill Drilling Completion | marenica | early August 2026 | — | — calendar timing | Superseded |
| Integrated Steady State Operation Across All Five U Pgrade Stages | marenica | Q4 2026 | — | — calendar timing | Current |
| Pilot Plant Testing Of Koppies Ore | koppies | Q1 2027 | — | — calendar timing | Current |
| Commence Marenica Scoping Study | marenica | Q1 2027 | — | — calendar timing | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-07-28Ann. 2026-07-13 | RaisingOrdinary Fully Paid Shares | A$1.1M | 4.7M | A$0.234 | Completed | Non-cash consideration for the completed first 10% Marenica ownership increase, taking current ownership to 85%.Max 4.7M · Period 2026-07-13 to 2026-07-28 |
| 2026-07-13 | RaisingOrdinary Fully Paid Shares | A$1.1M | 4.6M | — | Announced | Pending non-cash consideration for the remaining 5% Marenica interest; completion was extended twice and is not included in ordinary shares on issue.Max 4.6M · Period 2026-07-13 to 2026-09-30 · five-day VWAP before the extended closing date; quantity is the residual of the original maximum after the first tranche |
| 2025-12-23 | RaisingOrdinary Fully Paid Shares | A$2.5M | 8.9M | A$0.28 | Completed | Non-cash share consideration for the completed acquisition of Uranium Generation Pty Ltd.Max 8.9M · Period 2025-12-23 to 2025-12-23 |
| 2025-11-07Ann. 2025-10-31 | RaisingOrdinary Fully Paid Shares | A$25M | 71.4M | A$0.35 | Completed | A$25 million institutional placement before costs.Max 71.4M · Period 2025-10-31 to 2025-11-07 |
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.
2026 annual report contingent-liability note and post-period Marenica transaction were reconciled with transaction and resource announcements. No commodity or FX derivative hedge is disclosed in the audited report.
Namibian mineral-licence introduction agreement; specific current project mapping is not named in the annual report. A$2.026 million has been paid to date, nil in FY2026.
Other · Active- Counterparties
- Mallee Minerals Pty Limited
- Applies to
- Company-wide · Uranium
- Economic direction
- Burden
- Period
- From 2006-04-07; no end date stated
- Key terms
- Inferred classification fee: 0.01 AUD per tonne of ore
Indicated incremental fee: 0.02 AUD per tonne of ore
Measured incremental fee: 0.03 AUD per tonne of ore
How it affects our valuation
No valuation treatment is available for this arrangement.
A 1% gross royalty is payable to Paladin Energy on any Oobagooma production; no production to date.
Royalty · Active- Counterparties
- Paladin Energy Limited
- Applies to
- Oobagooma Uranium Project · Uranium
- Economic direction
- Burden
- Period
- From 2019-12-13; no end date stated
- Key terms
- Gross production royalty: 1 percent
How it affects our valuation
No valuation treatment is available for this arrangement.
A separate 1% gross royalty is payable to Areva Mining on Oobagooma production; no production to date.
Royalty · Active- Counterparties
- Areva Mining
- Applies to
- Oobagooma Uranium Project · Uranium
- Economic direction
- Burden
- Period
- From 2019-12-13; no end date stated
- Key terms
- Gross production royalty: 1 percent
How it affects our valuation
No valuation treatment is available for this arrangement.
A 1.5% gross royalty on Pamela/Angela production is embedded in the risk-adjusted project calibration.
Royalty · Active- Counterparties
- Paladin NT Pty Ltd
- Applies to
- Angela Uranium Project · Uranium
- Economic direction
- Burden
- Period
- From 2019-12-13; no end date stated
- Key terms
- Gross production royalty: 1.5 percent
How it affects our valuation
No valuation treatment is available for this arrangement.
Core Lithium retains a 1% net smelter royalty over the acquired Napperby project; no production to date.
Royalty · Active- Counterparties
- Core Lithium Limited
- Applies to
- Napperby Uranium Project · Uranium
- Economic direction
- Burden
- Period
- From 2025-12-22; no end date stated
- Key terms
- Net smelter royalty: 1 percent
How it affects our valuation
No valuation treatment is available for this arrangement.
Energy Metals-operated Bigrlyi joint venture; Elevate holds 20.82% of a 23.9 Mlb uranium resource and potential vanadium by-product.
Joint Venture · Active- Counterparties
- Energy Metals Limited
- Applies to
- Bigrlyi Uranium Joint Venture · Uranium · Others
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Elevate participating interest: 20.82 percent
How it affects our valuation
No valuation treatment is available for this arrangement.
Minority joint venture interests across Walbiri, Sundberg, Hill One, Karins and Malawiri, valued at source-reported attributable pounds.
Joint Venture · Active- Counterparties
- Energy Metals Limited
- Applies to
- Attributable Ngalia JV resource basket · Uranium
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Participating interest range: 20.82-23.97 percent
How it affects our valuation
No valuation treatment is available for this arrangement.
Completed Xanthos 10% acquisition increased Elevate ownership from 75% to 85%; current project calibration uses 85%.
Joint Venture · Active- Counterparties
- Xanthos
- Applies to
- Marenica Uranium Project · Uranium
- Economic direction
- Benefit
- Period
- From 2026-07-28; no end date stated
- Key terms
- Acquired interest: 10 percent
Cash paid: 1,100,000 AUD
Shares issued: 4,701,659 ordinary shares
How it affects our valuation
No valuation treatment is available for this arrangement.
Final 5% acquisition had not closed by 25 September; closing deadline extended to 30 September. No present 90% project value is taken.
Joint Venture · Conditional- Counterparties
- Millenium
- Applies to
- Marenica Uranium Project · Uranium
- Economic direction
- Mixed
- Period
- Through 2026-09-30; start date not stated
- Key terms
- Conditional remaining interest: 5 percent
Share consideration: 1,100,000 AUD
Debt release: 3,425,275 AUD
How it affects our valuation
No valuation treatment is available for this arrangement.
Conditional sale of Oobagooma with upfront cash, ORP shares and milestone shares; completion remained unconfirmed by the cutoff.
Other · Conditional- Counterparties
- Orpheus Uranium Limited
- Applies to
- Oobagooma Uranium Project · Uranium
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- Upfront cash: 225,000 AUD
Upfront ORP shares: 20,000,000 shares
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
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Management background checks
The executive team combines uranium metallurgical leadership, listed-company financial experience and Namibian environmental management. Pilot results remain partial. A same-name former Matrix Metals executive is a possible but unconfirmed identity match to the CFO; the Namibian manager’s overlapping company and environmental consultancy roles warrant transparent governance.
Decision-relevant facts
Material summary
Murray Hill
Managing Director, Chief Executive Officer
Company SuccessIssuer Reported · High materiality
Pilot produced partial-stage results
The September 2026 quarterly reports 88% mass rejection and 79% uranium recovery over the first four U-pgrade pilot stages; stage five results were still pending. The April update says Hill provided day-to-day oversight in Namibia after the plant encountered delays. Hill is named as the competent person for the metallurgical results in the August announcement. These are pilot data, not commercial mine production.
Role overlaps event; causation unproven · Hill was named as competent person for the reported metallurgical results and oversaw the pilot; the company did not attribute the numerical outcome to him alone.
Quarterly Activities Report September 2026 · pp. 1–2, pilot-stage results and remaining stage
U-pgrade Pilot Plant Update · p. 1, delay and MD oversight
Successful U-pgrade pilot plant results · p. 7, competent person statement
Role FitAnalyst Inference · Medium materiality
Role fit rests on process experience
Analyst inference: reported metallurgical consulting and direct pilot oversight fit the current exploration-to-process-testing stage, but no operating uranium mine delivery is established.
Responsibility not applicable · Role-fit judgment, not a personal production claim.
Annual Financial Report 2026 · Directors report: metallurgical background
U-pgrade Pilot Plant Update · p. 1: pilot oversight
Evidence gaps · 3
- Independent degree, fellowship and historic client engagement checks were unavailable; the consulting practice and prior lab and engineering employers are not fully identified.
- Final integrated five-stage pilot performance and study economics remained unreported by 31 October 2026.
- Targeted open-web legal, safety, environmental and regulatory searches are not comprehensive records checks.
Shane McBride
Chief Financial Officer, Company Secretary
Company SuccessDocumented · Medium materiality
Possible identity match: Matrix copper restart
A same-name Matrix CEO was in office when the company reported 4,656 tonnes of FY2008 copper production following the 2007 restart. Elevate describes its CFO’s prior role at an unnamed Queensland copper SX/EW producer, consistent with Matrix; an opened professional profile and 2014 company presentation provide additional name and career similarities. No primary source explicitly connects the two roles by name, so the identity match remains unconfirmed.
Responsibility unresolved · Matrix’s same-name CEO is documented, but the identity match to Elevate’s CFO is not established. No personal delivery is attributed.
Matrix Metals investor presentation · pp. 4, 13–14: management, production and commissioning
Copper news boosts Matrix Metals share price · 28 June 2007: first copper and CEO identification
Annual Financial Report 2026 · p. 32: unnamed Queensland copper SX/EW MD
Meet the team · Same-name professional profile, Matrix and Energy Minerals Australia roles
Mulga Rock company update · pp. 3 and 24: same-name CFO and fellowships
FailureDocumented · High materiality
Possible identity match: Matrix administration
Matrix’s same-name MD/CEO was in office in October 2008. Its directors appointed administrators on 11 November, followed by secured creditor Glencore appointing receivers on 14 November. Matrix later reported an A$91.3m loss for the December 2008 half-year, including impairment and creditor claims, and described a copper-price decline and provisional price adjustment. Its same-name director resigned on 10 January 2011; the project was sold in 2010. Elevate’s CFO has a similar Queensland copper-plant MD background, but the records reviewed do not definitively establish that the two are the same person.
Responsibility unresolved · Matrix company events and a same-name director are documented. Their identity with Elevate’s CFO is not conclusively established, and no individual misconduct or causation is inferred.
Matrix Metals investor presentation · p. 4: MD/CEO
Half-year financial report to December 2008 · pp. 2–3 and income statement: director resignation, external administration, loss and price context
Leichhardt project sale settlement · p. 1: 2010 asset sale
Annual Financial Report 2026 · p. 32: unnamed former Queensland SX/EW MD role
Meet the team · Same-name professional profile: Matrix and Energy Minerals Australia
Mulga Rock company update · pp. 3 and 24: same-name CFO, similar fellowships
EnvironmentIssuer Reported · Medium materiality
Matrix flood after receivership; identity link unconfirmed
Cape Lambert reported that severe 2009 flooding at the Matrix project may have released contaminants, and that remediation was planned. The incident followed administration and the asset was in receivership. A final independent cleanup outcome was not found. Matrix’s director was a possible same-name match to Elevate’s CFO, not a confirmed identity.
Responsibility unresolved · The incident is company-level, the asset was controlled by receivers, and the identity link to the Elevate CFO is not established; no personal role is inferred.
Leichhardt acquisition announcement · p. 2: possible release and intended remediation
Half-year financial report to December 2008 · p. 2: director and receiver dates
Annual Financial Report 2026 · p. 32: unnamed Queensland copper SX/EW MD background
Evidence gaps · 4
- No opened primary source explicitly links Elevate’s CFO by name to Matrix Metals or the Energy and Minerals Australia CFO; the identified matches rest on same name, matching professional details and similar project history and remain unconfirmed.
- Matrix 2009 remediation and any later enforcement outcome were not found; the incident occurred after receivers took control.
- Full Matrix board records and personal decision-making around finance and price risk were not reviewed, so individual causation is not established.
- Independent degree and professional membership verification and the complete timeline of Energy and Minerals Australia roles remain unavailable.
Jessica Bezuidenhout
General Manager, Namibia
GovernanceDocumented · High materiality
Company manager also authored assessment for company
A 2020 Marenica report identifies Bezuidenhout as its Namibia general manager. She co-authored a March 2021 ECC environmental and social assessment submitted for Marenica Ventures; the 2025 Namibian Chamber review also identifies her as an ECC director. The overlapping roles are relevant when considering the independence of the consultant’s work. The reviewed records do not establish a breach of law or misstatement, and fee terms and any conflict-management arrangements were not found.
Individual involvement documented · The role and authorship are directly identified; the inference concerns governance independence, not improper conduct.
2020 Annual Report · Operations review: general manager appointment
EPL 7435 environmental and social impact report · title page: assessment client and authors
Chamber of Mines annual review 2025 · printed pp. 80 and 112: roles
Role FitAnalyst Inference · Medium materiality
Environmental background relevant to uranium exploration
Analyst inference: the documented Namibia GM role and reported environmental assessment experience are relevant to managing exploration and permitting; the record does not independently establish project delivery or environmental compliance outcomes.
Responsibility not applicable · This is an analytical assessment, not an independently measured outcome.
EPL 8791 environmental impact assessment · p. 15: issuer representative
ECC professional curriculum vitae · pp. 1–4: reported career
EnvironmentDocumented · Medium materiality
Separate marine phosphate permit dispute
Bezuidenhout co-authored ECC’s 2022 Sandpiper scoping report for Namibia Marine Phosphate. A 2021 court decision found the operator lacked a valid clearance; in 2026 a new clearance was issued and appeals were pending as of 6 October. This is a separate project and does not establish wrongdoing by her or Elevate.
Employer context; no individual link established · She commented as consultant; no personal finding or responsibility for the court outcome is established.
Marine phosphate: NMP claims unfair scrutiny · 2023 report: consultant remarks and prior court outcome
Final Sandpiper scoping report · p. 2: scoping report authorship
Sandpiper clearance legal framework and available recourse · 6 October 2026: new clearance and pending appeals
Evidence gaps · 4
- The current contractual terms, remuneration and conflict-management arrangements between Elevate and ECC were not found.
- Her degree and complete previous-employer outcomes were not independently verified; the CV is self-reported.
- 2026 exact appointment continuity and the full scope of the unnamed pilot-plant operations manager are not documented in reviewed sources.
- Namibian court, environmental and regulatory records were not exhaustively searched.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2025-08-28 · 385,615,812 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 26.07% | 100,540,375 | |
| 2 | 8.28% | 31,922,881 | |
| 3 | 7.12% | 27,447,481 | |
| 4 | 4.97% | 19,175,535 | |
| 5 | 2.07% | 8,000,000 | |
| 6 | 1.98% | 7,625,873 | |
| 7 | 1.97% | 7,579,825 | |
| 8 | 1.64% | 6,333,826 | |
| 9 | 1.35% | 5,200,635 | |
| 10 | 0.99% | 3,806,604 | |
| 11 | 0.76% | 2,930,176 | |
| 12 | 0.76% | 2,928,219 | |
| 13 | 0.68% | 2,615,862 | |
| 14 | 0.65% | 2,517,188 | |
| 15 | 0.59% | 2,272,727 | |
| 16 | 0.57% | 2,200,097 | |
| 17 | 0.54% | 2,067,389 | |
| 18 | 0.52% | 2,000,000 | |
| 19 | 0.44% | 1,700,000 | |
| 20 | 0.44% | 1,698,948 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 9.89%Issued shares | 2025-08-28 | |
| 9.84%Issued shares | 2025-08-28 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- The top-20 register is more than a year old, and 2026 capital issuances mean its share counts and percentages are historical.
- Nominee and custodian accounts do not establish beneficial ownership.
- The annual report lists Sprott Inc. and Paradice Investment Management as substantial holders; their holdings may have changed since 28 August 2025, and no later notices were located.
- Cumulus Wealth’s 5.27% annual-report position is omitted from current substantial holders because its Form 605 states it ceased to be substantial on 30 September 2025.
Sources
- Elevate Uranium Limited Annual Report 2025
ASX / Elevate Uranium Limited · Published 2025-09-19 · Accessed 2026-10-09
Provides the dated top-20 registered ordinary-share accounts and the company-reported substantial holders.
Local PDF downloads/EL8/2025/2025-09-19_Annual Report to shareholders.pdf, pp. 74-75; shareholder information current at 28 August 2025.
- Notice of ceasing to be a substantial holder — Cumulus Wealth Pty Ltd
ASX / Elevate Uranium Limited · Published 2025-10-06 · Accessed 2026-10-09
Cumulus Wealth ceased to be a substantial holder on 30 September 2025.
Local PDF downloads/EL8/2025/2025-10-06_5b9d8b67d835bd81a0b40bcf_verified.pdf, Form 605, p. 1.
- Elevate Uranium Limited Annual Financial Report 2026
ASX / Elevate Uranium Limited · Published 2026-09-25 · Accessed 2026-10-09
Latest annual financial report located; it contains no current top-holder register or substantial-holder table.
Local PDF downloads/EL8/2026/2026-09-25_Annual Financial Report.pdf.
Disclosed activity
Insider transactions
Trading activity3 buys · 0 sells shownNet cash last 12 months no tradesShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-09-11 | Carol Ann Hill
Details & evidence for Carol Ann Hill on 2026-09-11As disclosed: 257,363 2025 STI Performance Rights expired unvested.
Murray Philip Hill · Spouse of director Murray Hill. Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> · Trustee and beneficiary with Murray Philip Hill. Change of Director's Interest Notice ↗ | Expiry2025 STI Performance Rights | 257,363 | —Non Cash | — | — |
| 2026-09-11 | Carol Ann Hill
Details & evidence for Carol Ann Hill on 2026-09-11As disclosed: 390,091 ordinary shares acquired; 390,091 2025 STI Performance Rights converted on vesting and exercise to Ordinary FP Shares.
Murray Philip Hill · Spouse of director Murray Hill. Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> · Trustee and beneficiary with Murray Philip Hill. Change of Director's Interest Notice ↗ | ExerciseOrdinary fully paid shares | 390,091 | —Non Cash | — | — |
| 2026-01-21 | Murray Philip Hill
Details & evidence for Murray Philip Hill on 2026-01-21As disclosed: Transfer of 453,847 ordinary shares from Murray Philip Hill.
Director · Start not disclosed Carol Ann Hill · Spouse; relevant interests disclosed as direct and indirect. Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> · Trustee and beneficiary with Carol Ann Hill. Change of Director's Interest Notice ↗ | Transfer OutOrdinary fully paid shares | 453,847 | —Non Cash | — | 540,909 |
| 2026-01-21 | Carol Ann Hill
Details & evidence for Carol Ann Hill on 2026-01-21As disclosed: Transfer of 895,639 ordinary shares from Carol Ann Hill.
Murray Philip Hill · Spouse of director Murray Hill. Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> · Trustee and beneficiary with Murray Philip Hill. Change of Director's Interest Notice ↗ | Transfer OutOrdinary fully paid shares | 895,639 | —Non Cash | — | 6,730,234 |
| 2026-01-21 | Murray Philip Hill and Carol Ann Hill jointly as trustees and beneficiaries of the Carmu Super Fund accountMurray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C>
Details & evidence for Murray Philip Hill and Carol Ann Hill jointly as trustees and beneficiaries of the Carmu Super Fund account on 2026-01-21As disclosed: Transfer into the Carmu Super Fund account of 1,349,486 ordinary shares.
Murray Philip Hill · Trustee and beneficiary of the joint account. Carol Ann Hill · Trustee and beneficiary of the joint account. Change of Director's Interest Notice ↗ | Transfer InOrdinary fully paid shares | 1,349,486 | —Non Cash | — | 2,731,304 |
| 2025-12-16 | Tracy Sophia Mann
Details & evidence for Tracy Sophia Mann on 2025-12-16As disclosed: 600,000 options held by Tracy Sophia Mann disposed; options exercisable at $0.61 on or before 16 December 2025; notice records nil consideration.
Director · Start not disclosed Change of Director's Interest Notice X 2 ↗ | ExpiryUnlisted options exercisable at $0.61 | 600,000 | —Non Cash | — | — |
| 2025-12-16 | Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C>
Details & evidence for Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> on 2025-12-16As disclosed: 1,900,000 unlisted options in Carmu Super Fund account expired unexercised on 16 December 2025.
Change of Director's Interest Notice X 2 ↗ | ExpiryUnlisted options exercisable at $0.61 | 1,900,000 | —Non Cash | — | — |
| 2025-12-02 | Tracy Sophia Mann
Details & evidence for Tracy Sophia Mann on 2025-12-02As disclosed: 432,570 Service Options acquired by Tracy Sophia Mann; exercisable at $0.41 and expiring 1 December 2029.
Director · Start not disclosed Change of Director's Interest Notice x 3 ↗ | GrantService Options | 432,570 | —Non Cash | — | — |
| 2025-12-02 | Stephen Thomas Mann
Details & evidence for Stephen Thomas Mann on 2025-12-02As disclosed: 130,000 Service Rights granted; expiring 30 November 2028.
Director · Start not disclosed Change of Director's Interest Notice x 3 ↗ | GrantService Rights | 130,000 | —Non Cash | — | — |
| 2025-12-02 | Scott Perry
Details & evidence for Scott Perry on 2025-12-02As disclosed: Issue of 695,837 Service Options exercisable at $0.41, expiring 1 December 2029.
Director · Start not disclosed Change of Director's Interest Notice x 3 ↗ | GrantService Options | 695,837 | —Non Cash | — | — |
| 2025-12-02 | Carol Ann Hill
Details & evidence for Carol Ann Hill on 2025-12-02As disclosed: 647,454 2025 STI Performance Rights granted to Carol Ann Hill, expiring 1 December 2027.
Murray Philip Hill · Spouse of director Murray Hill. Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> · Trustee and beneficiary with Murray Philip Hill. Change of Director's Interest Notice x 3 ↗ | Grant2025 STI Performance Rights | 647,454 | —Non Cash | — | — |
| 2025-12-02 | Carol Ann Hill
Details & evidence for Carol Ann Hill on 2025-12-02As disclosed: 658,245 2025 LTI Performance Rights granted to Carol Ann Hill, expiring 1 December 2029.
Murray Philip Hill · Spouse of director Murray Hill. Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> · Trustee and beneficiary with Murray Philip Hill. Change of Director's Interest Notice x 3 ↗ | Grant2025 LTI Performance Rights | 658,245 | —Non Cash | — | — |
| 2025-12-02 | Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C>
Details & evidence for Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> on 2025-12-02As disclosed: 1,737,304 Service Options granted to Murray Hill and Carol Hill jointly as trustees/beneficiaries of the Carmu Super Fund; exercisable at $0.41 and expiring 1 December 2029.
Change of Director's Interest Notice x 3 ↗ | GrantService Options | 1,737,304 | —Non Cash | — | — |
| 2025-08-14 | Scott Perry
Details & evidence for Scott Perry on 2025-08-14As disclosed: 990,280 fully paid ordinary shares acquired on market at $0.2537 per share.
Director · Start not disclosed Change of Director's Interest Notice - Scott Perry ↗ | PurchaseFully paid ordinary shares | 990,280 | —Not Disclosed | AUD 0.2537Disclosed price | — |
| 2025-05-16 | Andrew BantockDefine Consulting Pty Ltd ATF the Define Superannuation Fund
Details & evidence for Andrew Bantock on 2025-05-16As disclosed: 197,778 EL8AQ Service Rights ceased by lapse of conditional rights because conditions had not been met.
Director · Start not disclosed Notification of cessation of securities - EL8 ↗ Change of Director's Interest Notice X 3 ↗ Annual Report to shareholders ↗ | CancellationService Rights | 197,778 | —Non Cash | — | 98,889 |
| 2024-12-20 | Murray Philip Hill
Details & evidence for Murray Philip Hill on 2024-12-20As disclosed: 153,847 ordinary shares subscribed for under placement at $0.325 per share.
Director · Start not disclosed Carol Ann Hill · Spouse; relevant interests disclosed as direct and indirect. Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> · Trustee and beneficiary with Carol Ann Hill. Change of Director's Interest Notice - Murray Hill ↗ | SubscriptionFully paid ordinary shares | 153,847 | AUD 50,000.28 | AUD 0.325Disclosed price | — |
| 2024-12-20 | Andrew BantockDefine Consulting Pty Ltd ATF the Define Superannuation Fund
Details & evidence for Andrew Bantock on 2024-12-20As disclosed: 92,308 ordinary shares issued to Define Consulting Pty Ltd ATF the Define Superannuation Fund under placement at $0.325 per share.
Director · Start not disclosed Change of Director's Interest Notice - Andrew Bantock ↗ | SubscriptionFully paid ordinary shares | 92,308 | AUD 30,000.10 | AUD 0.325Disclosed price | — |
| 2023-12-11 | Stephen Thomas Mann
Details & evidence for Stephen Thomas Mann on 2023-12-11As disclosed: 130,000 Service Rights acquired by Stephen Mann, expiring 30 November 2028.
Director · Start not disclosed Change of Director's Interest Notice X 3 ↗ | GrantService Rights | 130,000 | —Non Cash | — | — |
| 2023-12-11 | Murray Philip Hill
Details & evidence for Murray Philip Hill on 2023-12-11As disclosed: 440,089 Service Rights granted to Murray Philip Hill, expiring 30 November 2028.
Replaces 1 earlier record(s). Director · Start not disclosed Carol Ann Hill · Spouse; relevant interests disclosed as direct and indirect. Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> · Trustee and beneficiary with Carol Ann Hill. Change of Director's Interest Notice X 3 ↗ Notification regarding unquoted securities - EL8 ↗ Notification regarding unquoted securities - EL8 ↗ Disclosure Document ↗ | GrantRetention Rights | 440,089 | —Non Cash | — | — |
| 2023-12-11 | Murray Philip Hill
Details & evidence for Murray Philip Hill on 2023-12-11As disclosed: 4,082,341 options granted to Murray Philip Hill, exercisable at $0.72 on or before 30 November 2026.
Director · Start not disclosed Carol Ann Hill · Spouse; relevant interests disclosed as direct and indirect. Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> · Trustee and beneficiary with Carol Ann Hill. Change of Director's Interest Notice X 3 ↗ | GrantOptions | 4,082,341 | —Non Cash | — | — |
| 2023-12-11 | Andrew BantockDefine Consulting Pty Ltd ATF the Define Superannuation Fund
Details & evidence for Andrew Bantock on 2023-12-11As disclosed: 296,667 Service Rights acquired by Define Consulting Pty Ltd ATF the Define Superannuation Fund, expiring 30 November 2028.
Director · Start not disclosed Change of Director's Interest Notice X 3 ↗ | GrantService Rights | 296,667 | —Non Cash | — | — |
| 2023-11-27 | Andrew Bantock
Details & evidence for Andrew Bantock on 2023-11-27As disclosed: 262,153 non-cash-exercised ordinary shares at the stated $0.17 per share.
Director · Start not disclosed Change of Director's Interest Notice - Andrew Bantock ↗ | ExerciseFully paid ordinary shares | 262,153 | —Non Cash | AUD 0.17Disclosed price | — |
| 2023-11-27 | Andrew Bantock
Details & evidence for Andrew Bantock on 2023-11-27As disclosed: 600,000 cash-exercised ordinary shares at $0.17 per share.
Director · Start not disclosed Change of Director's Interest Notice - Andrew Bantock ↗ | ExerciseFully paid ordinary shares | 600,000 | AUD 102,000.00 | AUD 0.17Disclosed price | — |
| 2023-11-27 | Carol Ann Hill
Details & evidence for Carol Ann Hill on 2023-11-27As disclosed: Carol Ann Hill acquired 3,600,000 ordinary shares by cash exercise of options at $0.17 per share.
Murray Philip Hill · Spouse of director Murray Hill. Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> · Trustee and beneficiary with Murray Philip Hill. Change of Director's Interest Notice - Murray Hill ↗ | ExerciseOrdinary fully paid shares | 3,600,000 | AUD 612,000.00 | AUD 0.17Disclosed price | 7,625,873 |
| 2023-06-26 | Carol Ann Hill
Details & evidence for Carol Ann Hill on 2023-06-26As disclosed: 921,053 ordinary shares issued on exercise of options at $0.10 per share in Carol Ann Hill account.
Murray Philip Hill · Spouse of director Murray Hill. Murray Philip Hill & Carol Ann Hill <Carmu Super Fund A/C> · Trustee and beneficiary with Murray Philip Hill. Change in Director's Interest Notice X 2 ↗ | ExerciseFully paid ordinary shares | 921,053 | AUD 92,105.30 | AUD 0.1Disclosed price | — |
| 2023-06-26 | Andrew BantockDefine Consulting Pty Ltd ATF the Define Superannuation Fund
Details & evidence for Andrew Bantock on 2023-06-26As disclosed: 657,895 ordinary shares acquired by exercise of options at $0.10 per share in Define Superannuation Fund.
Director · Start not disclosed Change in Director's Interest Notice X 2 ↗ | ExerciseFully paid ordinary shares | 657,895 | AUD 65,789.50 | AUD 0.1Disclosed price | — |
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Narrative and provenance
Research & Sources
AI Analyst Report
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 inventory27 documents
2026 Annual Financial ReportResults · HighExtracted
Audited FY2026 report, including post-year-end pilot results and Marenica ownership. Publication time not provided by issuer page; midnight is a date-only normalization and next session is used conservatively.
- Document ID
- el8-2026-09-25-annual-report
- Published UTC
- 2026-09-24T16:00:00Z
- Projects
- koppies · marenica · angela · napperby · thatcher-soak · bigrlyi · ngalia-jv-portfolio
- Commodities
- uranium
EL8.AX local ASX ordinary-share close, 25 September 2026Market Data · HighExtracted
Repository daily_stock_prices ASX ordinary-share series sourced from market data provider via miners.collect_stock_prices; 25 September raw close A$0.235, volume 200,756, with 28 and 31 August closes retained to test pilot-release price reaction.
- Document ID
- market-el8-close-2026-09-25
- Published UTC
- 2026-09-25T06:00:00Z
- Projects
- —
- Commodities
- —
Elevate Uranium Updates Director Murray Hill’s Equity HoldingsCorporate Action · LowExtracted
Secondary summary of the 11 September director-interest disclosure. Underlying Appendix 2A was not accessible; conversion is a provisional cap-table bridge. Date-only publication timestamp is normalized.
- Document ID
- el8-2026-09-12-rights-conversion
- Published UTC
- 2026-09-11T14:00:00Z
- Projects
- —
- Commodities
- —
Issuer media index listing September investor webinarPresentation · LowExtracted
Issuer media page lists an investor webinar held 10 September and posted 11 September. No verified transcript was accessible; no webinar statements are promoted to facts. Page publication time unavailable; listing date used.
- Document ID
- el8-2026-09-11-media-index
- Published UTC
- 2026-09-10T16:00:00Z
- Projects
- —
- Commodities
- uranium
World Nuclear Symposium PresentationPresentation · MediumExtracted
Issuer presentation dated 9 September 2026; extracted all 30 pages. It supplies a full CFO name and a 30-day trading-value observation. Its pro-forma 90% Marenica resource attribution conflicts with later annual-report confirmation of 85% legal ownership.
- Document ID
- el8-2026-09-09-symposium-presentation
- Published UTC
- 2026-09-08T23:28:00Z
- Projects
- koppies · marenica · angela · napperby
- Commodities
- uranium
Issuer research index listing MST Access updateOther · LowExtracted
Issuer research index lists a 1 September MST Access update. The linked full PDF was not accessible at retrieval; no contents or target are extracted. Page publication time unavailable; latest listing date used.
- Document ID
- el8-2026-09-01-research-index
- Published UTC
- 2026-08-31T16:00:00Z
- Projects
- —
- Commodities
- uranium
Cameco uranium industry average price, August 2026Commodity Data · MediumExtracted
Latest available Cameco month-end industry average of UxC and TradeTech spot and long-term uranium prices; not an EL8 realized price.
- Document ID
- market-uranium-2026-08-31
- Published UTC
- 2026-08-31T16:00:00Z
- Projects
- —
- Commodities
- uranium
Successful U-pgrade Pilot Plant ResultsOperations · HighExtracted
Nine-page 31 August issuer release. ASX listing gives 08:04 local release time. First four stages operated; Stage 5 integrated results were still due in Q4.
- Document ID
- el8-2026-08-31-pilot-release
- Published UTC
- 2026-08-30T22:04:00Z
- Projects
- marenica · koppies
- Commodities
- uranium
Update - Proposed issue of securities - EL8Financing · MediumExtracted
Second update extended the proposed issue date for the remaining Marenica 5% acquisition tranche to 30 September 2026.
- Document ID
- el8-2026-08-07-marenica-issue-update
- Published UTC
- 2026-08-07T07:55:02Z
- Projects
- marenica
- Commodities
- uranium
Update to - Elevate Lifts Marenica Project OwnershipTransaction · HighExtracted
Elevate clarified that it currently owns 85% of Marenica and extended settlement of the final 5% tranche to 30 September 2026.
- Document ID
- el8-2026-08-07-marenica-ownership
- Published UTC
- 2026-08-07T07:28:27Z
- Projects
- marenica
- Commodities
- uranium
Update - Proposed issue of securities - EL8Financing · MediumExtracted
The closing date for the remaining 5% Marenica acquisition was extended to 14 August 2026.
- Document ID
- el8-2026-07-28-marenica-issue-update
- Published UTC
- 2026-07-28T06:59:16Z
- Projects
- marenica
- Commodities
- uranium
Application for quotation of securities - EL8Financing · HighExtracted
Appendix 2A confirmed issue and quotation of 4,701,659 shares for the first 10% Marenica acquisition tranche.
- Document ID
- el8-2026-07-28-marenica-quotation
- Published UTC
- 2026-07-28T06:42:11Z
- Projects
- marenica
- Commodities
- uranium
Quarterly Activities and Appendix 5B - June 2026Results · HighExtracted
Latest quarterly report with cash, runway, pilot status, complete resource table and tenement schedule.
- Document ID
- el8-2026-07-29-quarterly
- Published UTC
- 2026-07-28T22:18:29Z
- Projects
- koppies · marenica · angela · napperby · thatcher-soak · bigrlyi · ngalia-jv-portfolio · namibia-exploration-portfolio · australia-exploration-portfolio · oobagooma
- Commodities
- uranium
Proposed issue of securities - EL8Financing · HighExtracted
Appendix 3B proposed up to 9,333,900 shares as non-cash consideration for an additional 15% of Marenica.
- Document ID
- el8-2026-07-13-marenica-proposed-issue
- Published UTC
- 2026-07-12T23:41:31Z
- Projects
- marenica
- Commodities
- uranium
Notification of cessation of securities - EL8Corporate Action · MediumExtracted
Appendix 3H recorded lapses and the resulting quoted and unquoted security classes.
- Document ID
- el8-2026-05-06-securities-cessation
- Published UTC
- 2026-05-06T07:59:44Z
- Projects
- —
- Commodities
- —
Quarterly Activities and Appendix 5B - March 2026Operations · HighExtracted
March quarter report disclosed pilot-plant delays, the updated Koppies resource and Marenica infill work.
- Document ID
- el8-2026-04-28-quarterly
- Published UTC
- 2026-04-27T22:13:37Z
- Projects
- koppies · marenica · namibia-exploration-portfolio
- Commodities
- uranium
Half Yearly Report and AccountsResults · HighExtracted
Half-year financial statements and resource review for the period ended 31 December 2025.
- Document ID
- el8-2026-03-13-half-year
- Published UTC
- 2026-03-12T21:24:37Z
- Projects
- koppies · marenica · angela · napperby · thatcher-soak · bigrlyi · ngalia-jv-portfolio
- Commodities
- uranium
Oobagooma Acquisition UpdateTransaction · MediumExtracted
Orpheus extended the Oobagooma completion deadline by 75 days because third-party agreements remained outstanding.
- Document ID
- el8-2026-02-12-oobagooma-update
- Published UTC
- 2026-02-11T22:15:59Z
- Projects
- oobagooma
- Commodities
- uranium
Presentation - 121 Cape TownPresentation · MediumExtracted
Corporate presentation with February capital structure, resource summary, project stage and catalyst framing.
- Document ID
- el8-2026-02-09-presentation
- Published UTC
- 2026-02-08T21:14:32Z
- Projects
- koppies · marenica · angela · napperby · thatcher-soak · bigrlyi · ngalia-jv-portfolio · namibia-exploration-portfolio · australia-exploration-portfolio
- Commodities
- uranium
Marenica Resource Update Doubles GradeResource Update · HighExtracted
JORC 2012 Marenica update lifted grade to 185 ppm at the selected 100 ppm cut-off; later superseded in size by the June-quarter update.
- Document ID
- el8-2026-02-05-marenica-resource
- Published UTC
- 2026-02-04T21:22:00Z
- Projects
- marenica
- Commodities
- uranium
Quarterly Activities and Appendix 5B - December 2025Results · HighExtracted
December quarter report covering the A$25 million placement, pilot plant commissioning and completed Napperby acquisition.
- Document ID
- el8-2026-01-21-quarterly
- Published UTC
- 2026-01-20T21:21:22Z
- Projects
- koppies · marenica · angela · napperby · australia-exploration-portfolio
- Commodities
- uranium
MST Access: Elevate Uranium - Time to UpgradeOther · MediumExtracted
Issuer-commissioned external analyst initiation dated 19 January. Used to test thesis and earlier timetable, never as fair-value anchor. Exact publication time unavailable; date-only normalization.
- Document ID
- el8-2026-01-19-mst-initiation
- Published UTC
- 2026-01-18T16:00:00Z
- Projects
- koppies · marenica
- Commodities
- uranium
Acquisition of Napperby Uranium Resource and High-Grade Exploration ProjectsTransaction · HighExtracted
Completed acquisition of Napperby and six exploration tenements from Core Lithium for A$5 million plus a 1% Napperby NSR.
- Document ID
- el8-2025-12-23-napperby-acquisition
- Published UTC
- 2025-12-22T22:48:57Z
- Projects
- napperby · australia-exploration-portfolio
- Commodities
- uranium
Quarterly Activities and Appendix 5B - September 2025Operations · MediumExtracted
September quarter activities, pilot plant shipment, Namib IV drilling and cash-flow disclosure.
- Document ID
- el8-2025-10-29-quarterly
- Published UTC
- 2025-10-28T21:14:48Z
- Projects
- koppies · oobagooma
- Commodities
- uranium
ORP: Acquisition of Oobagooma Uranium ProjectTransaction · MediumExtracted
Orpheus agreed to acquire Oobagooma from Elevate subject to conditions, with cash, upfront shares and milestone shares as consideration.
- Document ID
- el8-2025-10-14-oobagooma-sale
- Published UTC
- 2025-10-13T23:02:32Z
- Projects
- oobagooma
- Commodities
- uranium
2025 Annual ReportResults · HighExtracted
Audited FY2025 report covering financial position, the resource portfolio, pilot plant construction and project tenure.
- Document ID
- el8-2025-09-19-annual-report
- Published UTC
- 2025-09-19T06:44:13Z
- Projects
- koppies · marenica · angela · thatcher-soak · bigrlyi · ngalia-jv-portfolio · namibia-exploration-portfolio · australia-exploration-portfolio
- Commodities
- uranium
Bigrlyi Mineral Resource Increased by 12%Resource Update · MediumExtracted
Energy Metals reported a 12% increase in the Bigrlyi JORC resource; Elevate held 20.82% of the joint venture.
- Document ID
- el8-2025-02-25-bigrlyi-resource
- Published UTC
- 2025-02-24T22:40:02Z
- Projects
- bigrlyi
- Commodities
- uranium · others
Evidence facts77
23.9 Mlb U3O8
2025-02-2520.82 percent
2025-02-2510.1 kt V2O5
2025-02-25161.1 Mlb U3O8
2025-06-3098 percent
2025-06-30225000 AUD
2025-10-1420000000 ORP ordinary shares
2025-10-1418872000 AUD
2025-09-308.8 quarters
2025-09-308.03 Mlb U3O8
2025-12-23382 ppm U3O8
2025-12-232500000 AUD
2025-12-238923738 ordinary shares
2025-12-2336659000 AUD
2025-12-3125000000 AUD
2025-11-0740.2 Mlb U3O8
2026-02-05185 ppm U3O8
2026-02-05466000000 ordinary shares
2026-02-0626500000 securities
2026-02-0666.1 Mlb U3O8
2026-02-0975 days
2026-02-1236653673 AUD
2025-12-31465968122 ordinary shares
2025-12-3176.2 Mlb U3O8
2026-04-1534000000 AUD
2026-03-31August 2026 None
2026-04-28465968122 ordinary shares
2026-05-0628403793 securities
2026-05-069333900 ordinary shares
2026-07-132200000 AUD
2026-07-132026-08-14 None
2026-07-284701659 ordinary shares
2026-07-28470669781 ordinary shares
2026-07-2828830000 AUD
2026-06-305.89 quarters
2026-06-304091377 AUD
2026-06-3076.2 Mlb U3O8
2026-06-3052.8 Mlb U3O8
2026-06-10180 ppm U3O8
2026-06-1090 percent
2026-07-29180.7 Mlb U3O8
2026-06-30August 2026, subject to procurement and customs delays and potentially later in CY2026 None
2026-07-292026-09-30 None
2026-08-0785 percent
2026-08-0790 percent
2026-09-3089.68 USD/lb U3O8
2026-08-3196.5 USD/lb U3O8
2026-08-31390091 shares
2026-09-11257363 rights
2026-09-1128820547 AUD
2026-06-30465968122 shares
2026-06-3012702085 AUD
2026-06-3088 percent
2026-08-3179 percent
2026-08-31590 ppm U
2026-08-3185 percent
2026-09-252026-09-30 date
2026-09-25181 Mlb U3O8
2026-09-250.235 AUD/share
2026-09-25200756 shares
2026-09-250.295 AUD/share
2026-08-280.27 AUD/share
2026-08-3188 percent
2026-08-3179 percent
2026-08-31590 ppm U
2026-08-31Q4 2026 None
2026-08-31Q1 2026 None
2026-01-19Q2 2026 None
2026-01-19True None
2026-01-19True None
2026-01-19True None
2026-09-01True None
2026-09-01True None
2026-09-11Shane McBride None
2026-09-09230000 AUD/day
2026-08-3190 percent
2026-09-0950 percent
2026-09-09Conflicts requiring judgment1
- Marenica current ownership percentage
The quarterly and September presentation attribute a pro-forma 90% resource interest, but the 7 August release and later 25 September audited annual report state only 85% was legally owned while the final 5% closing remained conditional through 30 September. Use 85% in valuation.